Grab Holdings reported stronger financial results for the second quarter of 2026, driven by growth across its On-Demand and Financial Services businesses. The company also raised its full-year financial guidance and announced a new $750 million share repurchase program on Tuesday (04/08).

Revenue increased 22% year over year to $997 million, while On-Demand Gross Merchandise Value (GMV) rose 21% to $6.463 billion. Profit for the period reached $235 million, compared with $20 million in the same quarter of 2025.

"We delivered another strong quarter. We executed against our product and AI-led strategy with On-Demand GMV growth accelerating to 22% year-over-year (“YoY”) on a constant currency basis, and we reached a record 54 million Monthly Transacting Users," said Anthony Tan, Group Chief Executive Officer and Co-Founder of Grab.

"Our Grab intelligence layer is now embedded across every layer of our platform, lifting driver and merchant-partner earnings, while improving our operating efficiency. We expect this intelligence layer to further strengthen as it scales, translating directly into deeper user engagement, and durable, profitable growth for Grab."

Revenue and Profit Increase in the Second Quarter

Grab reported operating profit of $19 million in the second quarter, up from $7 million in the same period last year.

The improvement was mainly driven by higher revenue across all business segments.

The company said higher operating profit was partly offset by increased cost of revenue related to the expansion of Jaya and Everrise stores, as well as higher net impairment losses on financial assets, mainly driven by Digibank expected credit losses.

Profit for the period increased to $235 million from $20 million a year earlier. The increase was mainly supported by a $307 million gain recognized from the consolidation of Superbank in June 2026 and a $66 million favorable movement in income tax expense from the recognition of deferred tax assets.

The company said these gains were partly offset by a $183 million increase in fair value loss on financial assets and liabilities. Grab also noted that the Superbank remeasurement gain was a one-time item, while profit in the second half of the year may continue to vary because of fair value measurements and other non-operating items.

Adjusted EBITDA increased 54% year over year to $168 million from $109 million. Adjusted EBITDA margin also improved to 16.9% of revenue, compared with 13.3% in the second quarter of 2025.

Deliveries, Mobility, and Financial Services Maintain Growth

The Deliveries segment generated revenue of $531 million, an increase of 21% from the previous year. Deliveries GMV reached $4.249 billion, supported by growth in transactions, Monthly Transacting Users, and GMV per user.

Average monthly active Deliveries merchant-partners increased 8% year over year, while their average earnings grew 14%. Quarterly active advertisers using Grab's self-service platform increased 21%, and average advertiser spending rose 24%.

Mobility revenue increased 12% year over year to $331 million, while Mobility GMV grew 18% to $2.214 billion. Mobility transactions increased 28% as the company expanded more affordable transportation services.

Grab said it committed more than $7 million during the quarter to support driver-partner earnings amid higher fuel costs across the region. Average monthly active driver-partners increased 19% year over year to reach a new record.

Financial Services revenue grew 59% year over year to $134 million. The company said the increase was mainly driven by higher lending contributions from GrabFin and its Digibanks, including the consolidation of Superbank in June 2026.

The gross loan portfolio reached $2.318 billion, up 197% from $781 million in the second quarter of 2025. Total loans disbursed increased 72% year over year to a record $1.2 billion.

Customer deposits across GXS Bank in Singapore, GXBank in Malaysia, and Superbank in Indonesia totaled $2.5 billion at the end of the second quarter.

Grab also completed the acquisition of Stash Financial, Inc. in July 2026. The company said Stash's financial results and operations will be consolidated into its Financial Services segment beginning in the third quarter of 2026.

Grab Raises 2026 Guidance and Expands Share Repurchase Program

Grab raised its full-year 2026 outlook following the second-quarter performance.

The company now expects full-year revenue of $4.10 billion to $4.15 billion, compared with its previous guidance of $4.04 billion to $4.10 billion. It also increased its Adjusted EBITDA guidance to $720 million to $740 million from the previous range of $700 million to $720 million.

"Adjusted EBITDA margin expanded to 16.9% of Group revenue from 13.3% a year ago, marking our eighteenth straight quarter of Adjusted EBITDA growth and proving that our business model scales," said Peter Oey, Chief Financial Officer of Grab.

"We are raising our full-year 2026 guidance to $4.10 billion to $4.15 billion in Group revenue and $720 million to $740 million in Adjusted EBITDA, reflecting the strength of our underlying business alongside the consolidation of Superbank and the acquisition of Stash. We remain anchored to a disciplined capital allocation framework, and the Board has authorized an additional $750 million in share repurchases, bringing our cumulative authorization to $1.75 billion since 2024."

Separately, Grab's Board of Directors authorized a new share repurchase program of up to $750 million for the company's outstanding Class A ordinary shares. The company said the repurchases may be conducted through open market transactions, privately negotiated transactions, block trades, or other legally permitted methods, depending on market conditions and the trading price of its shares.

Grab said the repurchase program will be funded using excess cash after allocating capital for investments to support future growth. The program does not require the company to repurchase a specific amount of shares.

PHOTO: STRAIT TIMES

This article was created with AI assistance.

We make every effort to ensure the accuracy of our content, some information may be incorrect or outdated. Please let us know of any corrections at [email protected].