GRAB Q3 2024 Earnings

Call Details

• Call Title: Grab Holdings Limited Q3 2024 Earnings Call
• Date: November 12, 2024
• Management Team:
  • Douglas Yu (Director, Investor Relations and Strategic Finance)
  • Anthony Tan (Chief Executive Officer)
  • Alex Hungate (Chief Operating Officer)
  • Peter Oey (Chief Financial Officer)

Call Summary

Financial Performance

• Group Adjusted EBITDA more than tripled year-on-year to reach another record high of $90 million in Q3 2024.
• Deliveries GMV grew 16% year-on-year on a constant currency basis in Q3 2024.
• Deliveries segment margin reached 1.8% in Q3 2024, up from 1.5% sequentially and 1.1% in the prior-year period.
• Advertising revenue was $185 million in Q3 2024 and advertising as a percentage of deliveries GMV increased to 1.6% from 1.4% sequentially and 1.1% year-on-year.
• Lending disbursals increased 38% year-on-year and 13% quarter-on-quarter in the quarter.
• Grab reported free cash flow of $138 million in Q3 2024 and stated roughly $76 million on a trailing 12-month basis.

Guidance

• The company reiterated updated full-year 2024 adjusted EBITDA guidance of $308-$313 million.
• The trading update was described as maintaining prior expectations of sequential growth in both on-demand segments heading into Q4 2024.
• No specific numeric FY25 guidance or detailed Q4 forward metrics were provided on the call.
• October and early November were described as showing strong momentum, but the company did not provide quantified Q4 operating metrics.