Grab (US:GRAB)2025-07-31 10:28Revenue Growth - Revenue grew 23% year-over-year to $819 million, or 19% on a constant currency basis[4] - Deliveries revenue grew 23% year-over-year to $439 million, with Deliveries GMV increasing by 22% to $3.471 billion[9] - Mobility revenue increased by 19% year-over-year to $295 million, supported by a 23% growth in total Mobility transactions[10] - Financial Services revenue grew 41% year-over-year to $84 million, with a loan portfolio increasing by 78% to $708 million[11] - The company expects FY 2025 revenue guidance of $3.33 billion to $3.40 billion, reflecting a year-over-year growth of 19% to 22%[8] - Revenue for the three months ended June 30, 2025, increased to $819 million, up 23.3% from $664 million in the same period of 2024[33] Profitability - Profit for the quarter improved by $89 million year-over-year to $20 million, driven by increased revenue and lower finance costs[4] - For the three months ended June 30, 2025, Grab reported a profit of $20 million, a significant improvement from a loss of $68 million in the same period of 2024[22] - Operating profit for the three months ended June 30, 2025, was $7 million, a significant improvement compared to a loss of $56 million in the same period of 2024[33] - Net profit for the period was $20 million for the three months ended June 30, 2025, compared to a loss of $68 million in the same period of 2024[33] - Total comprehensive income for the three months ended June 30, 2025, was $103 million, compared to a loss of $73 million in the same period of 2024[34] Cash Flow and Liquidity - Cash liquidity totaled $7.6 billion at the end of Q2 2025, up from $6.2 billion in the prior quarter, bolstered by the issuance of $1.5 billion in convertible notes[7] - Adjusted Free Cash Flow was $112 million during the quarter, improving by 177% year-over-year[7] - Adjusted Free Cash Flow for the three months ended June 30, 2025, was $112 million, compared to $40 million in the same period of 2024, marking a 180% increase[25] - The company reported a net cash from operating activities of $64 million for the three months ended June 30, 2025, down from $272 million in the same period of 2024[25] - Cash and cash equivalents at the end of the period increased to $3,880 million, up from $2,964 million at the end of December 31, 2024[35] Adjusted EBITDA - Adjusted EBITDA reached a record high of $109 million, improving by $45 million year-over-year[4] - Adjusted EBITDA for the six months ended June 30, 2025, was $215 million, up from $126 million in the same period of 2024, reflecting a year-over-year growth of 70.6%[22] - Total Segment Adjusted EBITDA for the three months ended June 30, 2025, was $201 million, compared to $148 million in the same period of 2024, indicating a 35.8% increase[24] Financial Health - The loan portfolio in the financial services segment reflects the total of current and non-current loan receivables, net of expected credit loss allowances, which is crucial for assessing financial health[30] - Grab's cash liquidity includes cash on hand, short-term and long-term time deposits, marketable securities, and restricted cash, which are essential for meeting short-term obligations[19] Shareholder Actions - The company repurchased and retired ordinary shares amounting to $(274) million during the three months ended June 30, 2025[37] - The weighted-average ordinary shares outstanding increased to 4,116,419 for the three months ended June 30, 2025, compared to 3,964,775 in the same period of 2024[34] Costs and Expenses - Costs related to mergers and acquisitions for the three months ended June 30, 2025, were $5 million, compared to an insignificant amount in the same period of 2024[22] User Metrics - Monthly Transacting Users (MTUs) are a key metric for Grab, representing the average number of unique users who transact via Grab's apps each month[27]