Photo Credit: Grab
Singapore, July 31, 2021, Southeast Asian super-app giant Grab has reported a net profit of $35 million for the second quarter of 2025, a sharp turnaround from a loss of $53 million in the same quarter last year. The milestone reflects the company’s continued focus on operational efficiency, revenue growth, and improved cost management across its business segments.
Robust Revenue Growth
Grab’s revenue climbed to $819 million in the second quarter, marking a 23% rise compared to the same period last year. This growth was primarily fueled by higher demand in its ride-hailing, food delivery, and financial services offerings. The consistent uptick in consumer activity and merchant engagement contributed significantly to this strong top-line performance.
Profitability Gains Across Core Segments
- The company’s adjusted EBITDA rose to $109 million, up 69% from the previous year.
- In the Deliveries segment, EBITDA margins improved to 1.8% of GMV, driven by increased efficiency and a steady rise in advertising revenue.
- Mobility services also saw healthy expansion, with EBITDA margins climbing to 8.7%, aided by lower incentives and operational cost control.
Segment-Wise Performance Breakdown
Deliveries (including food and groceries):
This vertical continued to outperform, with gross merchandise value (GMV) growing 22% year-over-year. Strategic updates to the platform, such as new user features and faster delivery options, helped deepen user engagement and drive profitability.
Mobility (ride-hailing):
Mobility transactions rose by 23%, with GMV up 19% compared to Q2 2024. Initiatives to enhance driver productivity and incentivize eco-friendly transportation options helped improve margins and maintain service quality.
Financial Services:
This segment posted $84 million in revenue, reflecting a 41% growth from the previous year. Loan disbursements rose sharply, reaching an annualized run rate of nearly $2.9 billion. Despite an EBITDA loss of $26 million, the segment showed signs of narrowing its losses due to increased user adoption and platform enhancements.
Operational Efficiency and Liquidity Strength
Grab reported an operating profit of $7 million, compared to a loss of $56 million in the same quarter last year. Net cash reserves stood at $5.7 billion, with the company generating $229 million in adjusted free cash flow over the trailing 12 months.
Additionally, the company continued to optimize its capital structure, completing a convertible notes offering of $1.5 billion and conducting share buybacks totaling $274 million during the quarter.
Strategic Outlook
Looking ahead, Grab is focused on product innovation, affordability, and expanding its market share in underpenetrated regions. New features across food delivery, grocery, and ride-hailing platforms are expected to further enhance user retention and unlock new revenue opportunities.
Conclusion
Grab’s second-quarter performance signals a solid return to profitability, with all major business lines contributing to growth. The company’s disciplined financial management, coupled with strong market demand, positions it well for sustained progress in the coming quarters.