Grab Holdings posted a $20 million profit in the second quarter, swinging from a $68 million loss a year earlier, the Nasdaq-listed tech firm said on Thursday.
Topline registered double-digit growth, with revenue climbing 23% to $819 million in the April-June period. This was supported by a 21% increase in on-demand gross merchandise value (GMV) to $5.4 billion.
Monthly transacting users also rose 13% to 46.2 million. Adjusted EBITDA reached a new high of $109 million, up 69% from the previous year.
“Our growth engine continues to gain momentum, with On-Demand GMV accelerating year-over-year, and we will continue to execute on our strategy to enhance affordability, reliability, and user engagement,” Grab Group CEO and co-founder Anthony Tan said.
By segment, mobility posted the sharpest growth in profit value. Earnings from its ride-hailing services grew 27% during the period, hitting $164 million.
Monthly active drivers reached a record high in the second quarter, climbing 18%. The quarter also saw the official launch of GrabCab in Singapore.
The deliveries segment adjusted EBITDA also grew 50% during the period, hitting $63 million.
The company’s financial services, meanwhile, remained loss-making. While revenue for this segment grew 41%, EBITDA losses for the quarter increased by 8% to $26 million. Grab attributed this to an increase in expected credit loss provisions as loan disbursals rise.
Looking ahead, Grab expects the overall momentum to continue toward the remainder of the year.
“We remain committed to disciplined capital allocation to sustain our growth acceleration momentum, and remain on track to deliver Adjusted EBITDA in the second half that is greater than that in the first half,” Grab Chief Financial Officer Peter Oey said.
Grab maintained its full-year 2025 guidance, projecting $3.33 to 3.40 billion in revenue, up 19–22% from last year and $460 to 480 million in adjusted EBITDA, up 47–53% year-on year.
