$GRAB · Grab Holdings Ltd
Grab Holdings reported Q3 2026 results with revenue of $1,112 million (+27% YoY), record Adjusted EBITDA of $237 million (+73% YoY), and profit for the period of $18 million. Financial Services Segment Adjusted EBITDA turned positive for the first time at $12 million. The company repurchased $400 million in shares and disclosed a $60 million break fee from the rejected foodpanda Taiwan deal.
- Revenue grew 27% YoY (30% CC) to $1,112 million, driven by all core segments.
- Adjusted EBITDA hit a record $237 million, up 73% YoY, with margin expanding 565 bps to 21.3%.
- Financial Services Segment Adjusted EBITDA turned positive for the first time at $12 million vs. -$28 million YoY.
- Gross Loan Portfolio scaled 200% YoY to $2.7 billion; NPLs at 2.6%, covered 2.4x by reserves.
- Repurchased $400M of shares in Sep-Oct; $500M remaining under buyback program.
Extended-hours trading shows GRAB at $3.17, +10.84% vs the $2.86 regular close, reflecting strong reaction to the record Adjusted EBITDA, Financial Services profitability milestone, and aggressive buyback execution.
Grab's Financial Services segment reaching profitability while the loan portfolio tripled to $2.7B signals the super-app model is working, reinforced by $400M in buybacks.
Grab's Financial Services segment reaching profitability marks an inflection for Southeast Asian super-apps, where lending monetization has been a key investor debate. The 200% loan portfolio growth mirrors aggressive fintech expansion across the region.
Taiwan FTC rejected the foodpanda Taiwan acquisition; Grab will incur a $60 million break fee in Q4 2026. NPLs at 2.6% of the $2.7B loan portfolio bear watching as lending scales rapidly.