Press release
Grab Reports Second Quarter 2023 Results
Q2 2023 Revenue grew 77% year-over-year to $567 million1 Q2 2023 Loss for the period improved by 74% year-over-year to $148 million Q2 2023 Adjusted EBITDA
About this update from Grab Holdings Limited
[{"type":"text","content":"\n\nQ2 2023 Revenue grew 77% year-over-year to $567 million1\n\n\n\nQ2 2023 Loss for the period improved by 74% year-over-year to $148 million\n\n\n\nQ2 2023 Adjusted EBITDA improved by 92% year-over-year to $(20) million\n\n\n\nGroup Adjusted EBITDA breakeven guidance brought forward to Q3 2023 from Q4 2023\n\n\n\n SINGAPORE--(BUSINESS WIRE)--\nGrab Holdings Limited (NASDAQ: GRAB) today announced unaudited financial results for the second quarter ended June 30, 2023.\n\n\n“We had a strong set of results for the second quarter. Deliveries GMV grew year-over-year (“YoY”) to hit record-highs, supported by our continued push on key affordability initiatives and an expanding GrabUnlimited subscriber base. More people are using Grab today than ever before, as we achieved our highest Monthly Transacting Users to date,” said Anthony Tan, Group Chief Executive Officer and Co-Founder of Grab. “Looking ahead, we will focus on making our platform more valuable to our driver- and merchant-partners, by providing them with tools and services to become more productive and engaged. Our aim is to continue fostering a flourishing ecosystem that enables them to thrive, while delivering sustainable growth for Grab.”\n\n\n“We continued on our path to profitability, with Group Revenues growing 77% YoY, while delivering our sixth consecutive quarter of Group Adjusted EBITDA improvement. Against the backdrop of a strong first half along with our focus on driving cost efficiencies and maintaining a strong balance sheet, we are revising our Group Adjusted EBITDA guidance range up by $165 million to $195 million, to $(30) million to $(40) million for the full year 2023,” said Peter Oey, Chief Financial Officer of Grab. “We are on track to achieve Group Adjusted EBITDA breakeven in the third quarter of 2023, ahead of our prior target of the fourth quarter of 2023.”\n\n\nGroup Second Quarter 2023 Key Operational and Financial Highlights\n\n\n\n\n($ in millions,\nunless otherwise stated)\n\n\n\n\n\n\nQ2 2023\n\n\n\n\n\n\n\nQ2 2022\n\n\n\n\n\n\n\nYoY %\nChange\n\n\n\n\n\n\n\nYoY %\nChange\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n(unaudited)\n\n\n\n\n\n\n\n(unaudited)\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n(constant currency2)\n\n\n\n\n\n\n\n\nOperating metrics:\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nGMV\n\n\n\n\n\n\n5,243\n\n\n\n\n...