Grab Holdings Limited reported its fourth-quarter and full-year 2024 financial results, achieving its first full year of positive Group Adjusted EBITDA of $313 million, reaching the upper end of its guidance range. The company also recorded its first positive full-year Adjusted Free Cash Flow of $136 million, a significant improvement of $370 million year-over-year.
For the fourth quarter of 2024, Grab's revenue grew 17% year-over-year to $764 million, or 15% on a constant currency basis, driven by growth across all segments. On-Demand Gross Merchandise Value (GMV) increased 20% year-over-year to $5.0 billion, and the company reported a profit of $11 million for the quarter, with Adjusted EBITDA improving to $97 million.
Despite strong 2024 performance, Grab provided a fiscal year 2025 revenue forecast between $3.33 billion and $3.40 billion, with the midpoint falling below analysts' average estimate of $3.40 billion. The company projects Adjusted EBITDA for FY2025 to be between $440 million and $470 million, representing 41% to 50% year-over-year growth.
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