Grab Holdings, Southeast Asia's largest ride-hailing and food delivery platform, has reported its first annual profit more than four years after going public through a merger with a special purpose acquisition company.
"This is not a one-time event," stated Grab Chief Financial Officer Peter Oey in an interview following the Nasdaq-listed company's earnings release on Thursday. "We are a sustainably profitable business."
The Singapore-based company posted a net profit of $200 million for 2025, a significant turnaround from the $158 million net loss recorded in 2024.
The company also achieved profitability at the operating level, with an operating profit of $65 million in 2025 compared to an operating loss of $168 million the previous year. Revenue grew by 20% year-over-year to $3.37 billion.
Oey attributed the full-year profitability primarily to Grab's ongoing efforts in operational automation, including expanded use of artificial intelligence to reduce costs.
He noted that even as Grab continues to expand into more cities across Southeast Asia, "we are able to operate with fewer employees."
Despite the improved profitability, Grab's stock performance has remained weak.
The current share price is down 11.5% from 12 months ago and has declined 16.7% year-to-date, significantly underperforming the Nasdaq Composite Index, which has fallen only 0.7% this year.
The stock weakness reflects investor skepticism about Grab's ability to maintain its expansion pace in Southeast Asia, coupled with concerns about the region's economic outlook.
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