To The Moon

🌟🌟🌟Grab $Grab Holdings(GRAB)$  has just announced an excellent Q3 24 Earnings report on Monday. Its revenue grew 17% for the quarter to USD 716 million.  Grab has just delivered its 11th consecutive quarter of Adjusted EBITDA improvement and its 2nd positive Profit for the quarter.

Grab is now serving more users than ever before with 42 million Monthly Transacting Users on its platform. 

Grab is a leading Super App in Southeast Asia, providing everyday services such as mobility, deliveries and digital financial services to millions of people in the fast growing South East Asian region.  Grab is currently operating in Singapore, Malaysia, Cambodia, Indonesia, Myanmar, Philippines, Thailand and Vietnam, serving customers in over 500 cities and towns.

From its humble beginnings in 2012, Grab was founded by Anthony Tan and Tan Hooi Long and was publicly listed on the Nasdaq in 2021.  In March 2018, Grab merged with Uber's Southeast Asian operations and took over Uber's assets and operations.  These included Uber Eats which led to Grab's expansion in food delivery services.  In December 2020, Grab was granted a Digital Bank Licence in partnership with Singtel from MAS. 

For the quarter, Revenue grew 17% year over year or 20% on  a constant currency basis to USD 716 million.  On demand Gross Merchandise Value (GMV) grew 15% year over year, or 18% on a constant currency basis to USD 4.7 billion. 

Profit for the quarter was positive at USD 15 million.  Adjusted EBITDA improved by USD 62 million year over year to an all time high of USD 90 million.  Operating Cash Flow was USD 338 million in Q3 24 and Adjusted Free Cash Flow was USD 76 million on a trailing 12 month basis. 

According to Anthony Tan,  Group CEO and Co Founder, Q3 24 was a strong quarter as investments made across the business drove an acceleration of  Grab's On Demand GMV growth.  He remains bullish on the long term growth outlook of South East Asia as Grab is firing on all cylinders to capture the strong user demand trends, improve income growth opportunities for its ecosystem partners and drive tech led innovations to enhance the efficiency of its market place. 

Operating loss in Q3 24 was USD 38 million.  This represents an improvement of USD 55 million year over year, due to increases in revenue. 

Due to Grab's USD 500 million share repurchase program, Grab bought an additional 17.7 million shares with a principal amount of USD 58.2 million.  Cumulatively Grab has repurchased 57 million shares with the total amount of USD 189 million as of 30 September 2024.

Customer deposits in Grab's digital bank business tripled to reach USD 1.1 billion for the quarter  compared to USD 362 million in the previous year quarter.  The strong growth was mainly driven by an increased number of deposit customers across its digital banks and the launch of Boost Pocket in GXS Bank.  This is a term deposit product that boosts the interest rate that customers can earn on their savings. 

Grab has raised its full year 2024 guidance for revenue and adjusted EBITDA due to the strong momentum Grab is seeing across the business heading into the end of the year.  Grab expects to deliver sequential On Demand GMV growth in Q4 24 too. 

Grab is up 12.3% to USD 4.90  after the release of its latest earnings report.   

I have invested in Grab 3 months ago as I believe that Grab is undervalued and oversold.  So far I am happy that Grab is making great progress towards achieving its goal towards profitability.  As a regular user of Grab services, I am familiar with Grab's products and services.  I believe that Grab has a dominant market share especially in its mobility and food delivery business.  Grab is making great progress with its banking services too.

At the last closing price of USD 4.90, Grab is a great buy especially after the release of its excellent Q3 24 Earnings report. 

When it comes to investing, I seek companies that  are undervalued and have lots of exponential growth ahead.  Grab fits my criteria perfectly. 

@Daily_Discussion  @TigerStars  @Tiger_comments  @MillionaireTiger  @CaptainTiger