Grab reports $252m in Q2 earnings, raises guidance for 2026

Photo credit: The Business Times

Grab announced that it recorded a profit of US$252 million for the second quarter of 2026, a 620% increase from US$35 million in Q2 2025.

Revenue for the quarter rose 22% year on year to US$997 million, driven by growth across deliveries, mobility, and financial services.

Grab also reached a record 54 million monthly transacting users in Q2 2026, said group CEO and co-founder Anthony Tan. User penetration remains nascent across Grab’s markets, as the monthly transacting user (MTU) base is still a minority of Southeast Asia’s addressable users.

Engagement among users is deepening, as growth in daily transacting users outpaced MTU growth, while retention rates remained stable, said Tan.

As users engage with more services, their lifetime value rises and they remain embedded in the platform, he added.

“This is why our growth this quarter was led by transactions and users rather than prices – the healthiest form of growth we can generate,” said Tan.

Revenue for deliveries grew 21% in the quarter to US$531 million from US$439 million in Q2 2025. This was driven by growth in gross merchandise value (GMV) and the advertising business.

See also: Grab’s financial health in 8 charts

Meanwhile, groceries arm GrabMart grew GMV at 17x the rate of food deliveries in Q2 2026. Alex Hungate, Grab’s COO, said that GrabMart’s growth is expected to outpace the deliveries portfolio.

Grocery penetration is still nascent, while users rose 42% year on year. GrabMart constitutes about 14% of the user base.

“Longer term, we can see that some of the global peers are reporting [around] 30% or even higher for grocery penetration, so there’s obviously lots of upside there,” he added.

Photo credit: Grab