Grab reported its first full-year net profit on 11 February 2026, posting a $200 million gain for the 2025 financial year and marking a $358 million improvement year-on-year. The Singapore-based super-app operator reached a milestone that investors and analysts had long anticipated, turning an annual profit for the first time since its founding and demonstrating that its diversified platform model is capable of generating sustainable earnings.
Group revenue for FY2025 reached a record $3.37 billion, a 20 per cent increase from the prior year, driven by growth across its ride-hailing, food delivery and financial services segments. Adjusted EBITDA reached $500 million, up 60 per cent year-on-year, reflecting both top-line expansion and the company's ongoing effort to improve operating efficiency across its markets in Southeast Asia.
FINANCIAL SERVICES EMERGES AS A FAST-GROWING PILLAR
The Financial Services segment delivered revenue of $347 million for the full year, a 37 per cent increase year-on-year, establishing it as one of the most dynamic contributors to Grab's growth story. Lending was cited as the principal driver of that expansion, as GrabFinance scaled its consumer and merchant loan books across markets where traditional bank access remains limited for significant portions of the population.
The combined deposits held at GXS Bank, the digital bank Grab operates in Singapore, and GX Bank, its Malaysian digital banking venture, reached $1.6 billion at the end of 2025. That figure illustrates the speed at which the two neobanks have accumulated customer funds since their respective launches, positioning the financial services arm as an increasingly meaningful part of the group's balance sheet and future earnings potential.
Monthly transacting users across the platform crossed 50 million, an indicator of the breadth of Grab's engagement with consumers across its operating geographies. The ability to cross-sell financial products to a large base of existing users who already interact with Grab daily for transport and food services is one of the structural advantages the company cites in its financial services growth strategy.
PROFITABILITY MILESTONE VALIDATES THE SUPER-APP MODEL
The first full-year net profit ends a chapter in which Grab absorbed substantial losses as it invested in building out its platform, expanding into new markets and establishing its digital banking operations. The $358 million year-on-year swing from loss to profit reflects not only revenue growth but also tighter cost management and improved unit economics across the ride-hailing and delivery businesses.
The profitability milestone arrives at a time when Southeast Asian digital economy companies are under pressure from investors to demonstrate that their platforms can generate returns commensurate with the capital deployed to build them. Grab's FY2025 results provide a concrete answer to that challenge, though the company will need to sustain and build on the profit in subsequent years to fully close the debate about the durability of its earnings model.
With a record revenue base, growing financial services operations and its first annual profit in hand, Grab enters the next financial year with a stronger set of credentials than at any point in its history. The performance of the financial services division in particular will be closely watched, given the regulatory complexity of operating digital banks across multiple Southeast Asian jurisdictions with distinct licensing frameworks.