Grab Holdings reports Q1 adjusted EBITDA $154M vs. $106M last year

Reports Q1 revenue $955M, consensus $920.2M. “We had a strong start to 2026. Typically the first quarter is our seasonally softest quarter, however our On-Demand GMV growth accelerated to 24% year-over-year (“YoY”), or 21% YoY on a constant currency basis 2 , marking another quarter of record profitability. Our results demonstrate the resilience of our platform, especially as Southeast Asia navigates an uncertain macroeconomic environment from the fuel crisis,” said Anthony Tan, Group Chief Executive Officer and Co-Founder of Grab. “As we look ahead to the rest of the year, we remain committed to delivering durable, profitable growth while standing shoulder-to-shoulder with our communities – leaning deeply into AI to outserve our users with hyper-personalized experiences, while simultaneously unlocking more sustainable earnings opportunities for our ecosystem partners.” “Our first quarter performance highlights our consistent execution and the growing operating leverage across our platform, with Adjusted EBITDA growing 46% YoY to a record $154 million. This strong start keeps us firmly on track to deliver our 2026 Revenue guidance of $4.04 billion to $4.10 billion and Adjusted EBITDA guidance of $700 million to $720 million,” said Peter Oey, Chief Financial Officer of Grab. “With trailing Twelve Month Adjusted Free Cash Flow expanding to $489 million in the first quarter, we remain focused on disciplined capital allocation to drive profitable growth and maintain our commitment to return capital to shareholders.”