Southeast Asia’s superapp Grab announced Thursday that it has achieved a profit of $20 million in the second quarter of FY2025 amid higher revenue.

Grab said in a statement that its revenue grew 23 percent year-over-year, or 19 percent on a constant currency basis, with year on year growth accelerating from the prior quarter, to $819 million in the second quarter of 2025, driven by growth across its on-demand and financial services segments.

The firm’s profit for the period was $20 million, an improvement of $89 million year on year, primarily due to positive operating profit and lower finance costs for the period, partially offset by higher income tax expenses incurred in the quarter.

Its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was $109 million for the quarter, an improvement of $45 million year on year from $64 million in the prior year period, as the firm grew on-demand gross merchandise value (GMV) and revenue, while improving profitability on a segment adjusted EBITDA basis.

Grab has maintained its full year revenue guidance of $3.33 billion to $3.4 billion (19 percent to 22 percent year on year growth).

It has also hold its full year EBITDA guidance of $460 million to $480 million (47 percent to 53 percent year on year growth).

“We delivered another record quarter of profitable growth at scale, with over 46 million monthly transacting users powering the Grab ecosystem flywheel,

“Grab’s growth engine continues to gain momentum, with on-demand GMV accelerating to 21 percent year-over-year or 18 percent year o year on a constant currency basis, and Grab achieving our fourteenth consecutive quarter of adjusted EBITDA growth,” said Anthony Tan, Group Chief Executive Officer and Co-Founder of Grab.

“We will continue to execute on our strategy to drive product- and tech-led innovations to enhance the affordability and reliability of our services, further deepen user engagement and retention, while attracting new users to the Grab ecosystem,” he added.

Meanwhile, Peter Oey, Chief Financial Officer of Grab, said that strong topline growth acceleration and continued discipline on costs demonstrate the firm’s ability to generate adjusted EBITDA growth and adjusted free cash flow.

“We also successfully raised a $1.5 billion of zero coupon convertible senior note, which further strengthens our balance sheet and optimizes our strategic flexibility,” he added.

The firm’s on-demand GMV grew 21 percent year on year, or 18 percent year on year on a constant currency basis to $5.4 billion in the second quarter, underpinned by year on year growth in on-demand monthly transacting users (MTUs) and total number of on-demand transactions of 15 percent and 23 percent, respectively.

Its deliveries revenue also rose strongly by 23 percent year on year, or 18 percent year on year on a constant currency basis, to $439 million in the second quarter of 2025.

The strong growth was primarily driven by growth in deliveries GMV and advertising business revenue.

Its mobility revenue also increased 19 percent year on year, or 17 percent year on year on a constant currency basis in the second quarter.

The growth was underpinned by strong growth in mobility MTUs and total number of mobility transactions.

Revenue for financial services, on the other hand, expanded 41 percent year on year, or 38 percent year on year on a constant currency basis, to $84 million in the second quarter.

The growth was primarily driven by increased contributions mainly from lending across GrabFin and Digibanks.

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