Financial Data and Key Metrics Changes - In Q1 2025, Grab achieved a 17% year-on-year growth in on-demand GMV and recorded another all-time high in monthly transacting users, leading to record revenues [5][6] - The trailing twelve-month adjusted free cash flow expanded to $157 million, and the adjusted EBITDA outlook for the full year 2025 was raised to $460 million to $480 million from a previous range of $440 million to $470 million [6][5] Business Line Data and Key Metrics Changes - The delivery segment continued to grow, with monthly transacting users increasing sequentially, particularly driven by strong performance from Grab Mart [20][54] - The number of transactions on the platform increased by 19% year-on-year, indicating higher engagement [36] Market Data and Key Metrics Changes - The company noted that it has not seen any signs of consumer weakness despite macroeconomic uncertainties, particularly in Indonesia, where it outperformed its closest competitor [54][55] - The direct marketing costs in Indonesia declined by 12% quarter-on-quarter, contributing to improved adjusted EBITDA as a percentage of GMV [55] Company Strategy and Development Direction - Grab aims to position itself as a countercyclical company, focusing on improving reliability and affordability in its offerings to drive user growth and retention [5][6] - The company is leveraging AI to enhance user and partner services, with a focus on affordability and efficiency in operations [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining growth momentum despite potential macroeconomic headwinds, citing strong performance in Q1 and expectations for continued demand growth [6][36] - The company is closely monitoring the macro environment but remains optimistic about its ability to execute its growth strategy [33][39] Other Important Information - Grab's FinTech business is expected to see an increase in lending to consumers, with a focus on prudent growth amid macroeconomic uncertainties [108] - The company is exploring opportunities for value-added acquisitions to enhance its ecosystem [56] Q&A Session Summary Question: Changes in consumer behavior amid weakening macros - Management has not observed any signs of consumer weakness and expects a rebound in growth rates across mobility and deliveries in Q2 [20][21] Question: Confidence in higher EBITDA guidance - The company is confident due to strong Q1 performance, with demand remaining robust despite seasonal challenges [35][36] Question: Plans if demand softens - Management indicated they would monitor the situation closely and may consider promotions to stimulate demand if necessary [33] Question: Industry consolidation in delivery - Management noted ongoing consolidation in the industry but emphasized their focus on growing their delivery segment, which remains underpenetrated [51][52] Question: Performance in Indonesia compared to competitors - Grab outperformed its closest competitor in Indonesia, with strong growth in deliveries and a decline in direct marketing costs [54][55] Question: Margin drivers for deliveries - The margin improvement in deliveries was attributed to product mix and stable incentives, with Grab Mart growing faster than other delivery segments [86][87] Question: FinTech loan book growth and credit quality - The loan book grew 5% to 6% quarter-on-quarter, with stable non-performing loans, and management is monitoring credit quality closely [92][94] Question: Autonomous vehicle partnerships - Grab is exploring partnerships in the autonomous vehicle space, aiming to be at the forefront of this technology [98][99]

Financial Data and Key Metrics Changes - The company achieved a 17% year-on-year growth in on-demand GMV and recorded another quarter of record revenues, with a trailing twelve-month adjusted free cash flow expanding to $157 million [5][6] - Adjusted EBITDA outlook for the full year 2025 was raised to $460 million to $480 million from a previous range of $440 million to $470 million [6] Business Line Data and Key Metrics Changes - Monthly transacting users reached a record high, contributing to the overall revenue growth [5] - Delivery MTUs continued to grow sequentially, particularly with strong performance from Grab Mart [20][54] Market Data and Key Metrics Changes - The company noted no signs of consumer weakness despite macroeconomic uncertainties, with demand remaining strong in April [20][36] - The Indonesian market outperformed its closest competitor, with delivery MTUs growing sequentially [54] Company Strategy and Development Direction - The company aims to position itself as a countercyclical entity, focusing on reliability and affordability to drive user growth and retention [5][6] - New product initiatives, including AI-driven services, are expected to enhance operational performance without compromising margins [22][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining growth momentum despite potential macroeconomic headwinds, citing strong performance in Q1 and expectations for continued demand [6][36] - The company is closely monitoring the macro environment but remains optimistic about its ability to navigate challenges [33][39] Other Important Information - The company is focusing on enhancing its ecosystem through affordable products and viral initiatives to increase user engagement [26][41] - The FinTech segment is expected to see growth in lending to consumers, with a focus on prudent credit management [108][111] Q&A Session Summary Question: Changes in consumer behavior amid weakening macros - Management has not observed any signs of consumer weakness and expects a rebound in growth rates across mobility and deliveries in Q2 [20][21] Question: Confidence in higher EBITDA guidance - The company is confident due to strong Q1 performance, with demand remaining robust and cost optimization efforts in place [33][36] Question: Plans if demand softens - Management indicated they would monitor the situation closely and may consider promotions to stimulate demand if necessary [33] Question: Industry consolidation in delivery - The company believes there is still room for growth in the delivery segment despite ongoing consolidation in the industry [48][51] Question: Performance in Indonesia compared to competitors - The company outperformed its closest competitor in Indonesia, with strong growth in deliveries and a decline in direct marketing costs [54][55] Question: Thoughts on AV partnerships - The company is excited about the potential of autonomous vehicles and is actively exploring partnerships, though timelines for pilot deployments are not yet established [97][99] Question: Differences in FinTech models - The company focuses on supporting partners with credit underwriting advantages, which helps maintain stable NPLs [108][111] Question: Monetization of dine-out discovery - The company is enhancing dine-out discovery capabilities, which is expected to tap into a larger market and generate advertising revenue in the future [112][115]