Grab (US:GRAB)2024-11-12 02:36Q3 2024 Financial Performance - Revenue increased by 17% year-over-year (YoY) to $716 million, with a 20% increase on a constant currency basis[11] - On-Demand Gross Merchandise Value (GMV) grew by 15% YoY to $4659 million, or 18% on a constant currency basis[11] - Group Adjusted EBITDA was a profit of $90 million, compared to $28 million in Q3 2023, representing a 224% increase[11] - The company reported a profit for the period of $15 million, a significant improvement from a loss of $99 million in the same period last year[11] - Adjusted Free Cash Flow for the trailing 12 months was $76 million, an increase of $348 million YoY[11] Segment Performance - Deliveries revenue increased by 13% YoY to $380 million, with GMV growing by 12% YoY to $2965 million[23] - Mobility revenue increased by 17% YoY to $271 million, with GMV growing by 20% YoY to $1694 million[24] - Financial Services revenue increased by 34% YoY to $64 million, and the loan portfolio grew by 81% YoY to $498 million[25] Financial Position - Bank deposits across Digibanks tripled YoY, surpassing $1 billion[20] - Total loans disbursed grew 38% YoY to $567 million[20] - Cash liquidity stood at $6142 million as of September 30, 2024, with net cash liquidity at $5814 million[22] Outlook - The company updated its 2024 revenue outlook to $276 billion - $278 billion, representing 17%-18% YoY growth[28] - The company updated its 2024 Group Adjusted EBITDA outlook to $308 million - $313 million[28]