Grab Reports 54% EBITDA Growth, Raises Full-Year Guidance on Fintech Consolidation
Southeast Asia's super-app operator posted its 18th consecutive quarter of profitability expansion as it integrates SuperBank and Stash acquisitions.
Record Quarter Drives Guidance Increase
Grab Holdings Limited reported adjusted EBITDA of $168 million for the second quarter of 2026, representing 54% year-over-year growth and marking the company's 18th consecutive quarter of profitability expansion (earnings call, 2026-08-04). The Singapore-based super-app operator raised its full-year 2026 guidance from $700 million to $720 million, reflecting both operational momentum and the consolidation of its digital banking assets.
Adjusted EBITDA margin expanded to 16.9% of revenue from 13.3% in the prior-year period, more than doubling the company's revenue growth rate. On-demand gross merchandise value grew 21% year-over-year to $6.5 billion, or 22% on a constant currency basis, while monthly transacting users reached a record 54 million despite "elevated fuel prices" across the region (earnings call, 2026-08-04).
Fintech Integration Accelerates
The company consolidated SuperBank in May 2026 and completed its acquisition of Stash in July, moves that CEO Anthony Tan said position the Financial Services segment to reach adjusted EBITDA profitability in the second half of 2026. SuperBank now serves over 7.4 million customers and recorded full-year profitability in 2025, with pretax return on equity reaching 5.7% in Q2 2026 and cost-to-income ratio at 55% (earnings call, 2026-08-04).
Stash, described as "a profitable AI-powered wealth platform," brings over $5 billion in assets under management and more than 1 million active subscribers to Grab's ecosystem (earnings call, 2026-08-04). President and COO Alex Hungate said the company expects its loan book to exceed $3 billion by year-end, including the SuperBank portfolio.
Operational Momentum Across Segments
Grab's deliveries business accelerated to 24% year-over-year growth on a constant currency basis, while mobility achieved 18% growth despite persistent fuel price pressures. The company's grocery delivery offering grew at 1.7 times the rate of food delivery overall, with grocery users increasing 42% year-over-year, though still representing only 14% of the food user base (earnings call, 2026-08-04).
CFO Peter Oey noted that the number of rides grew 28% year-over-year, highlighting transaction-led rather than price-led growth. However, the updated guidance incorporates foreign exchange headwinds of 2% to 3% and continued fuel price support for drivers through the second half of the year (earnings call, 2026-08-04).
AI Investment and Board Changes
Tan emphasized the company's AI capabilities, stating that "cost per AI interaction with driver and merchant partners has approximately halved versus a year ago, while monthly interactions grew tenfold" (earnings call, 2026-08-04). The company's internal analytics platform reportedly saves sales teams approximately 40,000 hours quarterly.
The company announced a board change, with a director stepping down "in connection with our proposed acquisition of Food Panda, Taiwan business" (earnings call, 2026-08-04). Tan confirmed Grab maintains "ongoing dialogue with Uber" in its capacity as a shareholder, noting contractual restrictions prevent Uber from competing in Grab's core markets for one year following any full sale of its shareholding.
MarginX data shows recent insider sales by CFO Peter Oey (50,000 shares) and another executive, Philipp Wolfgang Josef Kandal (two transactions totaling 50,000 shares).
This article was generated by MarginX from the earnings call on 2026-08-04. It is not investment advice.