Singapore, 12 February 2026 – Southeast Asia’s leading super-app operator Grab Holdings has entered a defining phase in its corporate evolution, reporting its first-ever full-year net profit of US$268 million for FY2025. The milestone marks a decisive turnaround from a net loss of US$105 million the year before, signalling the arrival of financial sustainability for one of the region’s most influential technology platforms.
The profitability breakthrough was driven by a powerful fourth-quarter performance, with Grab delivering US$171 million in net profit—more than six times higher than the US$27 million recorded a year earlier. Revenue for the quarter rose 19% year-on-year to US$906 million, reflecting broad-based growth across its mobility, deliveries, and financial services segments.
This achievement underscores not just operational momentum, but a deeper structural transformation in Southeast Asia’s digital economy. After years of aggressive expansion, heavy investment, and strategic losses aimed at capturing market share, Grab has now demonstrated that scale, efficiency, and disciplined cost management can coexist with sustained growth.
A Record Year Driven by Strong User Growth and Financial Discipline
At the core of Grab’s profitability was a steady expansion in revenue and improved operational efficiency. The company’s total revenue climbed approximately 20% to US$3.4 billion in FY2025, up from US$2.8 billion a year earlier. Improved adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), stronger finance income, and reduced share-based compensation expenses all contributed to lifting overall profitability.
Grab’s Chief Executive Officer and co-founder, Anthony Tan, described the results as a turning point in the company’s long-term journey, noting that Grab ended 2025 with a record fourth quarter while surpassing 50 million monthly transacting users, a testament to its deep integration into Southeast Asia’s daily economic life.
The company’s mobility and delivery businesses, once heavily subsidised to fuel rapid expansion, have now matured into profitable engines. Both segments recorded positive EBITDA margins, highlighting improved pricing discipline and operational optimisation.
This transformation reflects Grab’s shift from prioritising user acquisition at all costs to optimising monetisation, cost structures, and profitability, an evolution mirrored across global technology companies navigating post-pandemic economic realities.
Fintech Emerges as Grab’s Fastest-Growing Strategic Pillar
Grab’s financial services division delivered some of the strongest growth, underscoring fintech’s increasing importance within the super-app ecosystem. Revenue from financial services surged 34% year-on-year to US$99 million in the fourth quarter alone.
Loan growth was particularly striking, with outstanding loans expanding approximately 120% year-on-year to US$1.2 billion, while total loans disbursed during the quarter rose 53% to US$979 million. Meanwhile, customer deposits across its digital banking platforms, including GXS Singapore and GXBank Malaysia, climbed to US$1.6 billion, reflecting growing consumer confidence in Grab’s financial infrastructure.
This expansion positions Grab as a serious challenger in Southeast Asia’s financial ecosystem, extending beyond ride-hailing and food delivery into lending, payments, savings, and digital banking. For investors, fintech offers higher margins and recurring revenue streams compared with traditional mobility or delivery services.
Grab’s digital banking operations in Malaysia, in particular, are strategically significant. Malaysia’s rapidly growing digital finance adoption, supportive regulatory framework, and expanding SME ecosystem provide fertile ground for Grab’s fintech ambitions.
Expansion Strategy Accelerates with US$500 Million Share Buyback and Strategic Acquisition
Reflecting growing financial strength, Grab also announced a US$500 million share buyback programme, signalling confidence in its long-term prospects and commitment to enhancing shareholder value.
In parallel, the company revealed a strategic acquisition of US-based digital financial services provider Stash, gaining access to advanced fintech technology, artificial intelligence-driven investing platforms, and subscription-based revenue streams. The deal, valued at approximately US$425 million for a controlling stake, will expand Grab’s technological capabilities and strengthen its fintech offering globally.
Stash brings more than US$5 billion in assets under management and over one million paying subscribers, providing Grab with immediate scale and expertise in wealth management technology.
This move highlights Grab’s ambition to transition beyond Southeast Asia’s mobility and delivery sectors into global fintech leadership.
Strong Growth Outlook Reinforces Investor Confidence
Looking ahead, Grab expects revenue to reach between US$4.04 billion and US$4.1 billion in FY2026, representing projected growth of 20% to 22%. Adjusted EBITDA is forecast to increase to between US$700 million and US$720 million, reinforcing the company’s trajectory toward stronger profitability and cash flow generation.
Over the longer term, Grab expects revenue to maintain a compound annual growth rate of approximately 20% through 2028, with EBITDA projected to reach US$1.5 billion.
These projections signal strong investor confidence in Grab’s diversified business model and Southeast Asia’s expanding digital economy.
Strategic Implications for Southeast Asia’s Tech Ecosystem
Grab’s profitability milestone carries broader implications beyond the company itself. For Southeast Asia’s technology sector, long characterised by rapid growth but limited profitability, Grab’s transition signals a new phase of financial maturity.
The achievement demonstrates that Southeast Asia’s digital economy can produce not only high-growth platforms but also sustainable, profitable technology champions. This shift could encourage increased investor confidence, attract capital inflows, and accelerate innovation across the region.
For Malaysia, Grab’s digital banking expansion and fintech growth align with national ambitions to build a regional financial technology hub. The country’s strong digital infrastructure, regulatory support, and growing consumer adoption of digital finance create favourable conditions for continued expansion.
A Defining Moment in Grab’s Corporate Evolution
Grab’s first full-year profit represents more than just a financial milestone, it marks the successful completion of its transition from aggressive startup to mature digital platform leader.
After years of losses driven by expansion and competition, the company has proven that its business model can deliver sustainable profitability while maintaining strong growth.
As Southeast Asia’s digital economy continues to expand, Grab now stands as one of its most prominent and financially sustainable champions, positioned at the intersection of mobility, commerce, and financial services.
Its transformation offers a powerful signal to global investors: Southeast Asia’s technology ecosystem has entered a new era of maturity, scale, and sustainable value creation.
