Grab Holdings has reported a full-year net profit of $268 million for the financial year ended 31 December 2025, marking the Singapore-headquartered super-app's first profitable year since its founding. The result reverses a $105 million net loss recorded in 2024 and demonstrates that the company's sustained programme to improve unit economics across its deliveries, mobility, and financial services business lines has begun to generate tangible returns at the group level, vindicating a multi-year restructuring of its cost base and pricing approach across Southeast Asia.
Full-year revenue reached $3.4 billion, a 20 per cent increase on the prior year, as Grab's core businesses in the region continued to benefit from recovering consumer spending, growing platform engagement, and the ongoing expansion of its digital banking operations. The combination of accelerating top-line growth and positive profitability represents a significant shift in the company's financial profile and provides a more stable foundation from which to pursue the next phase of its development across the markets in which it operates.
FOURTH QUARTER DRIVES FULL-YEAR RESULT
The fourth quarter of FY2025 was particularly strong, with Grab reporting a quarterly net profit of $171 million — more than six times the profit recorded in the equivalent period of the prior year. The pace of improvement in the final quarter suggests that operational leverage within the business is building, and that the cost disciplines the company implemented in earlier periods are generating meaningful bottom-line returns as revenue scales. A strong fourth quarter also indicates that seasonal demand patterns across the holiday and festive period in Southeast Asia worked favourably for Grab's deliveries and mobility businesses.
Grab reported that it crossed 50 million monthly transacting users during 2025, a milestone reflecting sustained platform engagement across its markets in Southeast Asia. The user base figure is significant because monthly transacting users are the primary driver of transaction volume across all of Grab's verticals — from ride-hailing and food delivery to financial services — and a growing, active user count provides the platform foundation required to sustain continued revenue growth across multiple business lines simultaneously.
DIGITAL BANKING DEPOSITS SHOW SUBSTANTIAL GROWTH
GX Bank, Grab's digital banking operation in Malaysia, recorded substantial growth in deposits during 2025, adding to the financial services revenue that has become an increasingly important contributor to the group's overall results. Digital banking is a strategically significant segment for Grab because it offers recurring, fee-based income streams that are less dependent on the volume of individual ride-hailing or food delivery transactions processed through the platform on any given day, providing revenue diversification and margin stability that pure marketplace businesses typically lack.
The FY2025 results position Grab at a meaningful inflection point, transitioning from a well-funded but loss-making growth company to a profitable, diversified technology-driven platform serving tens of millions of consumers across Southeast Asia. For investors and analysts, the central question going forward will be whether the group can sustain double-digit revenue growth whilst maintaining — or improving upon — its current profit margin as competitive dynamics across the region evolve and the cost of acquiring and retaining users in more mature market segments begins to increase.