The following is a summary of the Grab Holdings Limited (GRAB) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Grab reported strong Q1 2024 revenues of $653 million, a 24% increase YoY.

• The company's On-Demand Gross Merchandise Volume (GMV) grew 18% YoY to $4.2 billion.

• Adjusted EBITDA expanded 4x YoY to $153 million, credited to all segments.

• Reported an IFRS net loss of $115 million for the quarter, an improvement from last year.

• Ended the quarter with gross cash liquidity of $5.3 billion.

• Grab initiated a $500 million share buyback program and repurchased approximately 97 million of Class A ordinary shares.

• Net cash liquidity at the end of Q1 was $5 billion.

Business Progress:

• Grab reached a record of 38 million monthly transacting users.

• Contributed to progress were initiatives with governments and regulators like the Tourism Authority of Thailand and Grab's Kota Masa Depan program in Indonesia.

• Grab's On-Demand GMV reached a new record of $4.2 billion in a quarter, marking a 21% increase YoY.

• Despite impacts of seasonal festivities, demand in Deliveries remained resilient.

• Grab's lending business saw growth with total loans dispersed in Q1 growing 64% YoY to reach $483 million.

• Strong demand witnessed in the Mobility segment.

• Planning a progressive scaling of the lending business and optimization of expenses within its Digibanks.

• Committed to achieving breakeven for its Financial Services segment no later than the second half of 2026.

• Grab's fintech business is expanding, with lending becoming a major revenue driver.

• The company undertook cost management and efficiency improvement initiatives across its departments.

• Enhancements have been reported in drivers' metrics across different countries.

More details: Grab Holdings IR

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