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<a href="/company/grab">Grab</a> has reported its financial results for the fourth quarter of 2024, with revenue rising 17% year-on-year to USD 764 million, driven by strong demand for its ride-hailing and delivery services. The company posted a Q4 profit of USD 11 million. Releasing its results on February 20, Grab credited the growth to heightened engagement across both affordable and premium tiers. Anthony Tan, co-founder and group CEO, said the performance reflects product and technology initiatives that boosted user activity and transaction frequency​.
On-demand gross merchandise value (GMV) reached USD 5 billion in Q4 2024, a 20% jump from the same period last year​. Features such as “Saver” and “Priority” rides or deliveries contributed to a growing share of transactions, underscoring efforts to tailor services for varied customer needs. Meanwhile, Grab’s mobility business posted a 23% rise in quarterly GMV, supported by strong driver supply and offerings like advance bookings and airport rides​. In Southeast Asia, where congestion and convenience are daily considerations, these features have reportedly helped reduce wait times and bring more drivers onto the road, strengthening Grab’s foothold.
Revenue from financial services surged 38% as Grab expanded lending through its GrabFin unit and digital banks​. Total loans disbursed reached USD 2.2 billion in 2024, increasing the loan portfolio to USD 536 million by year-end​. Tan highlighted the company’s prudent lending approach, noting that deposits at GXS Bank in Singapore and GXBank in Malaysia climbed to USD 1.2 billion, signaling growing consumer adoption.
Grab closed 2024 with its first positive full-year adjusted EBITDA of USD 313 million and positive adjusted free cash flow of USD 136 million, signaling its shift toward sustained profitability​.
The company also narrowed its annual loss to USD 158 million through tighter cost management, a 67% improvement from USD 485 million in 2023​. It repurchased 67 million Class A ordinary shares by the end of the year, reaffirming its commitment to capital returns while continuing to invest in new features such as group orders, dine-out deals, and payment solutions aimed at boosting user engagement​.
Gross and net cash liquidity remained stable at USD 6.1 billion and USD 5.8 billion, respectively, at the end of the fourth quarter.
For 2025, Grab projects revenue between USD 3.33–3.40 billion and group adjusted EBITDA in the range of USD 440–470 million, reflecting confidence in growth across delivery volumes and lending​.
The company is also ramping up investment in generative artificial intelligence and autonomous vehicles.
In remarks published alongside the latest results, Tan said generative AI can “improve the health of [Grab’s] marketplace,” citing tools such as “GrabRideGuide,” which directs drivers to high-demand locations, and “Merchant Menu Assistant,” which aims to boost restaurant sales.
While acknowledging that self-driving vehicles remain in “very early days” in the region, he noted that Grab is actively engaging with regulators and potential partners to explore the technology’s future.

Grab rides to record quarterly revenue in Q4 2024, sets sights on AI and autonomous vehicles