SINGAPORE, February 23, 2023 – Grab Holdings Limited (NASDAQ: GRAB) today announced unaudited financial results for the fourth quarter and full year ended December 31, 2022.
“Our 2022 and fourth quarter results demonstrate our commitment to accelerating our path to profitability. In the fourth quarter, we achieved revenue growth of 310% year-over-year (“YoY”), while improving our Group and Deliveries Segment Adjusted EBITDA margins and maintaining regional category leadership across our Mobility and Food Deliveries businesses. We achieved these results by focusing on capturing the rebound in Mobility demand, optimizing our costs, reducing our cost-to-serve and innovating on products and services that drive stickiness and engagement within our ecosystem. As we look ahead, we will remain laser-focused on driving sustainable growth, and improving the efficiency of our ecosystem,” said Anthony Tan, Group Chief Executive Officer and Co-Founder of Grab.
Q4 2022 Revenue grew 310% year-over-year to $502 million, and 2022 Revenue grew by 112% year-over-year to $1,433 million[1]
Q4 2022 GMV grew 11% year-over-year to $5.0 billion, and 2022 GMV grew by 24% year-over-year to $19.9 billion
Q4 2022 Loss for the period improved by 64% year-over-year to $391 million, with 2022 Loss for the year improving by 51% year-over-year to $1,740 million
Group Adjusted EBITDA breakeven guidance brought forward to the fourth quarter of 2023 from the second half of 2024
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