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Grab cuts losses by 54% to $68m in Q2 as adjusted EBITDA turns positive
Adjusted EBITA for the period rose to $64m.
Grab cut its losses in Q2 2024 to $68m, an improvement of $79m or 54% YoY.
The loss for the quarter included $82m in non-cash share-based compensation expenses.
The company attributed the improvement to its group adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), which turned positive, rising to $64m in Q2.
The improvement in the group's adjusted EBITDA, however, was partially offset by an increase in income tax expense.
Improvements in revenue also helped cut losses. Revenue for the period rose 17% YoY to $664m.
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