Grab Holdings Limited (GRAB) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day everyone and welcome to Grab's second quarter 2026 earnings call. I'm Ken Lek, Head of Strategic Finance and Investor Relations at Grab and joining me today are Anthony Tan, Chief Executive Officer, Alex Hungate, President and Chief Operating Officer, and Peter Oey, Chief Financial Officer. During this call, we will be making forward-looking statements regarding future events, including our business and financial performance. These statements are based on our current beliefs and expectations. Actual results can differ materially due to a number of risks and uncertainties as described on this earnings call in the earnings release and in our Form 20F and other filings with the SEC. We do not undertake any duty to update any forward-looking statements. We will also be discussing non-IFRS financial measures on this call. These measures supplement but do not replace IFRS financial measures. Please refer to the earnings materials for a reconciliation of non-IFRS to IFRS financial measures. For more information, please refer to our earnings press release, remarks and supplementary presentations available on our IR website. For today's call, Anthony will deliver opening remarks after which we will open the floor for questions. As a reminder, we are accepting questions via our IR email at investor.relationsatgrab.com. Do submit your questions ahead of time and we will add them to the Q&A queue. With that, I'll hand it over to Anthony. Thanks, Ken. Good day, everyone, and thank you for joining us. We delivered a record second quarter. Adjusted EBITDA grew 54% year-over-year to $168 million, more than twice our revenue growth rate, with margin expanding to 16.9% of revenue from 13.3%. Our 18th consecutive quarter of adjusted EBITDA growth. On-demand GMV grew 21% year-o...