🧵 Grab reports record quarter and raises outlook for 2026

1/ Grab – Southeast Asia’s largest “super-app” (ride-hailing, food delivery, payments) – posted Q2 2026 results, and the numbers are well above expectations. 📈

2/ Key figures:

💰 Revenue: $997M (+22% year-on-year)

💵 Net profit: $235M (over 5× year-on-year)

📊 Adjusted EBITDA: $168M (+54%)

👥 Record 54 million monthly transacting users Grab reports

3/ This is the 18th consecutive quarter of EBITDA growth – that’s almost 4.5 years of uninterrupted profitability improvement.

4/ Why such a big jump in profit? Grab attributes it to AI – they deployed an “intelligent layer” across the entire platform, which lowers costs and improves earnings for drivers and partners.

5/ The company is also expanding financial services – following the acquisitions of Superbank and Stash, it expects this part of the business to be more profitable in the second half.

6/ Grab is also testing autonomous vehicles – the first paid point-to-point service is set to launch in Singapore as early as Q4 2026.

7/ And finally – the company expanded its share buyback programme to $1.75 billion (of which $400M was already spent in H1). The market rewarded this; the stock added over 5% after the results.

My take: This is a neat example of how the “super-app” model can pick up speed after years of losses – Grab was long a symbol of growth without profit, but that now appears to be turning. Particularly interesting is the link between AI efficiency and a real margin impact – EBITDA margin is genuinely growing at a pace that outpaces revenue growth. The guidance raise should be taken with a pinch of salt – part is organic growth, part is simply consolidating Superbank and Stash into the numbers, so it’s not purely about the core business accelerating. Autonomous vehicles in Singapore will be an interesting test of whether they can compete with Waymo and similar players outside the US/China.