Grab revenue climbs 19% for full-year 2024

This was attributed to a 16% increase in total sales from rides and deliveries.

Grab reported a full-year revenue of 19% or $2.78b for 2024 compared to $2.35b from a year before attributable to robust growth on their ride-hailing and delivery services, financial services, and advertising.

Full-year on-demand GMV in 2024 went up by 16% YoY to $18.36b, driven mostly by ride-hailing and delivery services. Deliveries GMV growth accelerated to 13% YoY, or 16% YoY on a constant currency basis, in comparison to the 4% YoY growth recorded in 2023.

Grab also reported a loss of $158m, a 67% improvement YoY, attributed to improvements in Group Adjusted EBITDA, alongside lower restructuring costs and share-based compensation expenses. Non-cash expenses included $279mn in share-based compensation expenses, $147m of depreciation and amortisation and $8m of losses from equity-accounted investees

The Singapore ride hailing company expects their FY2025 group revenue to reach between $3.33b to $3.40b whilst expecting an adjusted EBITDA of $440m to $470m.

“As we look ahead to the first quarter of 2025, with Lunar New Year and the Ramadan fasting period both occurring in the same quarter, we expect GMV and Revenue growth to come in softer from the fourth quarter of 2024, followed by a sharp recovery in the second quarter 2025. We encourage investors to focus instead on our full year guidance as a basis to determine our Group performance and to see through the seasonality effects of the first quarter,” Peter Oey, Chief Financial Officer of Grab said.

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