Aug 3, 2026 earnings call — Record quarter and upgraded full-year guidance
Grab raised full-year 2026 revenue guidance from $700 million to $720 million, citing strong on-demand growth and consolidation of Superbank and Stash.
EPS $0.06 (est $0.02)
Key quotes
"Adjusted EBITDA grew 54% year-over-year to $168 million, more than twice our revenue growth rate"
"We recently consolidated Superbank, which now serves over 7.4 million customers and in July, we completed our acquisition of Stash, bringing a profitable AI-powered wealth platform and over $5 billion in AUM into our ecosystem."
"Overall, GrabMart grew GMV at 1.7x the rate of food deliveries this quarter."
Analyst Q&A 5
Why guidance was revised
Q (Peter Oey · Morgan Stanley; Citi; Barclays; JPMorgan; Macquarie): Analysts asked if the upgraded guidance mostly reflects Superbank consolidation and whether the core business (excluding Superbank) changed.
A: Management said on-demand momentum continued, with on-demand and financial services growth and consolidation of Superbank and Stash feeding the new guidance. They also said they are baking in FX headwinds. They added that the core business is performing well and is in line with prior guidance.
"So basically, in summary, the core business is performing well and is in line with the prior guidance." — Alexander Charles Hungate (COO)
Why mobility revenue lagged rides growth
Q (Peter Oey): The analyst asked why mobility GMV grew 18% and transactions 28% but revenue only grew 12%, and whether take rates will stabilize or recover.
A: Management said they leaned into driver and partner incentives, including the $7 million Alex mentioned, to keep supply strong as fuel prices rose. They said this raised monthly active drivers (up 19%) and drivers' earnings (up 4%), while saver products compressed average ticket size and kept riders using the service. They reported mobility margin was 8.6% and viewed the setup as healthy going into Q3.
Share buyback pace and triggers
Q (Peter Oey · Morgan Stanley; Maybank): Analysts asked how fast the company will execute the $750 million buyback and when they would accelerate repurchases.
A: They said they executed roughly $400 million of the prior $500 million program and that some purchases were accelerated. For the new $750 million, bringing cumulative authorization to $1.75 billion, they will deploy with the same discipline and focus on pace and will execute where they see dislocation in the share price. They emphasized a balanced capital allocation between organic investment, high-bar M&A, and returning capital to shareholders.
Foodpanda Taiwan deal status and costs
Q (Peter Oey · HSBC; UBS; CIMB): Analysts asked for progress with regulators, the likely timeline to close the Foodpanda Taiwan deal, expected upfront integration costs, and whether those costs are in 2026 guidance.
A: Management said they remain on track with the transaction and are keen to enter the Taiwan market. They said they are in very close discussions with Taiwanese regulators and expect to close by the end of the year. They did not provide figures for upfront integration costs or say whether such costs are included in 2026 guidance.
Closing summary and priorities
Q (Peter Oey): The operator closed Q&A and asked Peter for closing remarks.
A: Management recapped that scale has converted into profitability, with EBITDA growing faster than revenue and revenue margin expanding 360 basis points. They noted $1.75 billion cumulative buyback authorization and said Financial Services turning profitable in the second half is the next real catalyst. They reiterated the trajectory is multi-quarter and thanked stakeholders.