Grab (US:GRAB)2024-11-12 11:08Financial Performance - Profit for the quarter was $15 million, an improvement of $114 million year-over-year[9] - Adjusted EBITDA improved by $62 million year-over-year to an all-time high of $90 million[2] - Revenue grew 17% year-over-year to $716 million, or 20% on a constant currency basis[4] - Revenue for Q3 2024 was $716 million, a 16.4% increase from $615 million in Q3 2023[39] - Adjusted EBITDA for Q3 2024 was $90 million, compared to $28 million in Q3 2023, reflecting a significant improvement[29] - Total Segment Adjusted EBITDA for the nine months ended September 30, 2024, was $479 million, up from $241 million in the same period of 2023[29] - The company reported a profit of $15 million for Q3 2024, a turnaround from a loss of $99 million in Q3 2023[39] - For the three months ended September 30, 2024, the profit before income tax was $47 million, compared to a loss of $83 million in the same period of 2023[43] - The company reported a total comprehensive income of $146 million for the three months ended September 30, 2024, compared to a loss of $145 million in the same period of 2023[40] - Basic earnings per share for the three months ended September 30, 2024, was $0.01, compared to a loss of $0.02 in the same period of 2023[40] User Engagement - Monthly Transacting Users reached 42 million, a 16% increase year-over-year[5] - Monthly Transacting Users (MTUs) increased, indicating growth in user engagement across Grab's platforms[34] Cash Flow and Financial Position - Operating Cash Flow was $338 million, an improvement of $17 million year-over-year[9] - Adjusted Free Cash Flow was positive at $138 million, improving by $144 million year-over-year[9] - Free Cash Flow for Q3 2024 was $292 million, compared to $275 million in Q3 2023, showing positive cash generation[31] - Adjusted Free Cash Flow for Q3 2024 was $138 million, compared to a negative $6 million in Q3 2023, indicating better cash flow management[32] - Net cash from operating activities for the three months ended September 30, 2024, was $338 million, compared to $322 million in the same period of 2023[43] - The company incurred finance costs of $28 million for the three months ended September 30, 2024, compared to $18 million in the same period of 2023[43] Growth Metrics - On-Demand GMV grew 15% year-over-year to $4.7 billion, or 18% on a constant currency basis[4] - Total loan portfolio grew 81% year-over-year to $498 million[17] - Customer deposits in the digital bank tripled to $1.1 billion, a 50% increase quarter-over-quarter[19] - Full year 2024 revenue guidance raised to $2.76 billion - $2.78 billion, reflecting 17% - 18% year-over-year growth[10] Operational Costs - The cost of revenue increased to $409 million in Q3 2024 from $375 million in Q3 2023, reflecting higher operational costs[39] Assets and Equity - Total assets increased to $9,178 million as of September 30, 2024, up from $8,792 million as of December 31, 2023[42] - Cash and cash equivalents at the end of the period were $2,885 million, a decrease from $3,138 million at the beginning of the period[44] - Total equity attributable to owners of the Company decreased to $6,359 million as of September 30, 2024, from $6,449 million as of December 31, 2023[42] Future Outlook - The company plans to continue focusing on expanding its product offerings and enhancing user experience to drive future growth[25]