Grab Holdings Limited reported a profit of $17 million for the third quarter, marking a 13.3% rise from the same quarter a year ago as the Southeast Asian tech giant continued to expand its core on-demand business.
Adjusted EBITDA rose 51% year-on-year to $136 million, prompting the company to revise up its full-year guidance.
Nasdaq-listed Grab now expects 2025 group revenue to reach $3.38-3.4 billion, up from its prior estimate of $3.33-3.4 billion. It also raised its full-year adjusted EBITDA guidance to $490-500 million from $460-480 million.
“This quarter marks another vital step forward in our journey, not just in financial performance, but in how we are building a more resilient, technology-driven platform for the long term,” said Anthony Tan, Group Chief Executive Officer and co-founder of Grab.
“Looking ahead, we will continue to prioritise innovation to fuel profitable growth in our core on-demand business while making disciplined investments to accelerate growth in financial services and explore autonomous vehicle (“AV”) and remote driving opportunities,” he added.
Deliveries were the largest contributor to the group’s revenue, bringing in $465 million during the quarter. This was 23% higher than the $380 million recorded a year ago. Gross merchandise volume (GMV) growth remained almost flat to hit $3.73 billion, driven by higher transactions and monthly transacting users.
The mobility vertical’s revenue also expanded 17% during the period, reaching $317 million from $271 million in the same quarter last year. Mobility gross merchandise volume reached $2.04 billion, up 20% year on year.
Grab’s fintech vertical, meanwhile, saw its revenue grow 39% to $90 million, driven by lending across GrabFin and digibanks. The loan portfolio rose 65% to $821 million, with total loans disbursed increasing 56% to $886 million.
Segment adjusted EBITDA, however, was still at a negative $28 million, reflecting higher credit provisions in line with lending growth.
Customer deposits across Singapore and Malaysia reached $1.31 billion, with deposit customers hitting all-time highs.
“As we head into the final stretch of 2025, we expect to exit the year on a high note. We remain on track for our financial services loan portfolio to exceed $1 billion, and for full-year on-demand GMV growth to accelerate from 2024 levels,” Tan said.
“As a result, both our mobility and deliveries segments are poised to exit the year at record GMV levels,” he added.
