TLDR
- Grab Holdings forecast fiscal 2026 revenue of $4.04-$4.10 billion, missing Wall Street estimates of $4.13 billion as consumer spending slows in Southeast Asia
- The company reported its first annual profit of $200 million for 2025, reversing a $158 million loss from the previous year
- Grab announced a $425 million acquisition of U.S. digital investment platform Stash Financial to expand its fintech offerings
- The ride-hailing giant unveiled a $500 million share buyback program to boost shareholder returns after shares fell 70% since its 2021 listing
- Fourth-quarter revenue came in at $906 million, below analyst estimates of $940.7 million, as consumers cut discretionary spending
Grab Holdings shares dropped roughly 4% in after-hours trading Wednesday after the Southeast Asian tech company issued a fiscal 2026 revenue forecast that fell short of Wall Street expectations.
The Singapore-based ride-hailing and delivery platform projected annual revenue between $4.04 billion and $4.10 billion. Analysts had expected $4.13 billion, according to LSEG data.
The disappointing outlook came despite Grab reporting its first annual profit. The company posted net income of $200 million for 2025, a reversal from the $158 million loss recorded in 2024.
Consumer spending patterns across Southeast Asia have shifted as sticky inflation and U.S. tariff policy fallout pressure household budgets. Shoppers are becoming more selective with purchases and hunting for cost-saving options on everyday items.
Grab has responded by leaning into its Saver platform. The service offers discounts, bundled deals, and lower delivery fees to attract price-conscious customers.
“We’re going to continue to make our rides affordable, because that’s really one of the fastest growing businesses in terms of adding new users into the platform today,” CFO Peter Oey told Reuters.
Stash Acquisition Expands Fintech Push
The company announced it will acquire U.S. digital investment platform Stash Financial in a deal initially valued at $425 million. Grab will purchase a 50.1% stake at closing, with the remaining interest acquired at fair market value over three years.
Stash manages $5 billion in assets and serves over one million paying subscribers. The platform uses AI-powered tools to help users invest.
The acquisition strengthens Grab’s financial services division, which already includes payments, lending, and digital banking across Singapore, Malaysia, and Indonesia. Stash is cash-flow positive and expected to generate over $60 million in adjusted EBITDA by 2028.
“This is a milestone in Grab’s evolution as a trusted international provider of financial services,” CEO and cofounder Anthony Tan said. “This acquisition brings more than just recurring, high-margin subscription revenue.”
Full-year revenue for 2025 climbed 20% to $3.4 billion. The company projected revenue will grow at a 20% compound annual rate from 2025 through 2028.
Shareholder Returns Take Priority
Grab announced a $500 million share buyback program as part of efforts to reward investors. The stock has tumbled more than 70% since the company’s Nasdaq debut in 2021, weighed down by years of losses.
“This provides us with greater flexibility to accelerate our platform ambitions while delivering shareholder value,” Oey said.
Fourth-quarter revenue totaled $906 million, missing analyst estimates of $940.7 million. The company forecast adjusted EBITDA between $700 million and $720 million for fiscal 2026, compared with analyst expectations of $721.7 million.
Oey said Grab plans to double down on its grocery business this year. That segment is growing 1.7 times faster than the company’s food delivery operations.
The Stash transaction is expected to close in the third quarter, subject to regulatory approvals and customary closing conditions. Grab operates across eight Southeast Asian countries with over 50 million monthly active users.
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