Grab Holdings Limited has announced its financial results for the fourth quarter and full year of 2024, marking its strongest quarter to date. The company reported a 17% year-over-year (YoY) revenue increase, reaching $764m, with its On-Demand Gross Merchandise Value (GMV) growing by 20% YoY to $5b. Monthly Transacting Users (MTUs) rose to 44 million, marking the seventh consecutive quarter of growth.
The company achieved a quarterly profit of $11m, with Adjusted EBITDA reaching an all-time high of $97m, a $61m improvement from the previous year. For the full year, Grab’s revenue grew by 19% YoY, exceeding its guidance, and the Group Adjusted EBITDA was positive at $313m.
Anthony Tan, Group CEO and Co-Founder of Grab, stated, “Fourth quarter was our strongest quarter ever. We finished 2024 with On-Demand GMV growth accelerating to 20% YoY, and as we continue to generate profitability at scale.”
Looking ahead, Grab has set its FY 2025 guidance with expected revenue between $3.33b and $3.40b, representing a 19% to 22% growth YoY. The company also anticipates Adjusted EBITDA to grow between 41% YoY and 50%, YoY reaching $440m to $470m.
Peter Oey, Chief Financial Officer of Grab, highlighted the company’s achievements, noting, “We outperformed our Revenue guidance for 2024, whilst demonstrating our ability to scale the platform profitably.”
Grab’s continued growth and profitability underscore its strategic position in the market, with plans to deepen user engagement and expand its ecosystem in 2025.
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