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Visual21 Nov 2025
Data center suppliers
Grab (GRAB) investor relations material
Grab Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Revenue grew 22% year-over-year to $873 million in Q3 2025, with On-Demand GMV up 24% to $5.8 billion and record growth in monthly transacting users, driving a 24% year-on-year increase in on-demand GMV.
Adjusted EBITDA rose 51% year-on-year to $136 million, marking the fifteenth consecutive quarter of sequential profitability improvement.
Adjusted free cash flow improved by $185 million year-on-year to $283 million on a trailing 12-month basis.
Profit for the period increased 14% year-on-year to $17 million.
Product-led innovations and cost discipline contributed to profitable growth and deeper user engagement.
Financial highlights
Deliveries revenue increased 23% year-on-year to $465 million, with GMV up 26% to $3.73 billion and segment Adjusted EBITDA up 42% to $78 million.
Mobility revenue rose 17% year-on-year to $317 million, GMV up 20% to $2.04 billion, and segment Adjusted EBITDA margin at 8.9%.
Financial Services revenue surged 39% year-on-year to $90 million, loan portfolio up 65% to $821 million, with loan disbursals annualized at $3.5 billion.
Adjusted Free Cash Flow for Q3 2025 was $203 million, up 37% year-on-year.
Net cash liquidity stood at $5.29 billion as of September 30, 2025.
Outlook and guidance
Full-year 2025 revenue guidance raised to $3.38–$3.40 billion (21–22% year-on-year growth).
Full-year Adjusted EBITDA guidance upgraded to $490–$500 million (57–60% year-on-year growth).
Expect to exit 2025 at record GMV levels for both mobility and delivery segments, with sequential GMV growth into Q4.
Margins for deliveries expected to continue growing into 2026, with no change in long-term margin outlook (deliveries to 4%+, mobility to 9%+).
On track for financial services loan portfolio to exceed $1 billion by year-end.
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Frequently asked questions
Grab Holdings Limited operates a Southeast Asian superapp offering services such as ride-hailing, food delivery, digital payments, and financial services. The company serves consumers and merchants through its integrated mobile platform across several countries in the region. It is headquartered in Singapore, and its shares are listed on the NASDAQ.
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