Grab Reports Solid Growth in Q2 2024 With Revenue and EBITDA Improvements

Grab Holdings Inc., Southeast Asia's leading superapp, reported its financial results for the second quarter of the year 2024, indicating sustained growth and improved financial health. With operations spanning across various sectors, including food delivery, ride-hailing, and financial services, Grab has showcased resilience in a dynamic market.

Revenue and GMV Growth

The company's revenue saw a substantial year-over-year increase, amounting to a 17% rise, with figures reaching $664 million. Adjusted for constant currency terms, the revenue growth rate climbs to 23%. This notable ascent is attributed to the strengthened foothold in its respective markets and a diversifying portfolio of services, despite facing stiff competition and evolving consumer preferences.

Further bolstering its market presence, Grab's On-Demand Gross Merchandise Volume (GMV) also experienced a significant upswing. The GMV expanded by 13% over the same period last year, standing at an impressive $4.4 billion. The company's consistent investment in enhancing user experience and expanding service reach have evidently paid off, with the constant currency basis figure highlighting an even stronger 18% year-over-year growth.

Narrowing Operating Losses and EBITDA Improvement

On the financial efficacy front, Grab reported a sizable improvement in its operating losses. The operating loss was reduced by $121 million compared to the same quarter in the previous year, now reporting a reduced loss of $56 million. This increase in operating efficiency reflects the company's ongoing efforts to optimize its cost structures and streamline operations.

Equally important is the improvement in Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). The Adjusted EBITDA witnessed significant betterment, showing an $81 million improvement over the same quarter last year. This is a strong indicator that Grab's business model is maturing and that it is making strides toward profitability.

Revenue, EBITDA, Growth