Grab Q3 2025 revenue rises 21.9% to $873M; acquires Infermove for delivery boost
Grab Holdings' Q3 2025 revenue rose 21.9% YoY to $873 million, beating expectations, while operating margin turned positive at 3.1%. The company has acquired China-based AI robotics firm Infermove to enhance first- and last-mile delivery capabilities.
1. Robust Q3 2025 Financial Performance
Grab Holdings reported third-quarter revenue of $873 million, a 21.9% year-over-year increase that surpassed consensus forecasts. The company swung to a positive adjusted operating margin of 3.1%, compared with a small loss in the same period last year, driven by ongoing cost optimization and higher take rates across its ride-hailing and food delivery segments. Gross transaction value grew by over 18%, underscoring sustained demand for Grab’s services across Southeast Asia even as competitors ramp up promotions.
2. Digital Wallet Leadership and Ecosystem Expansion
Grab’s super-app strategy continues to yield market share gains in digital payments, with its digital wallet processing approximately 250 million transactions in Q3, up 28% from the prior year. Partnerships with regional banks and merchants have boosted merchant acceptance to over 600,000 outlets. The company also introduced new micro-lending products and insurance offerings within the app, which collectively contributed to a 15% increase in non-transport revenue, further diversifying Grab’s income streams beyond ride-hailing and delivery.
3. Strategic Acquisition of Infermove for Delivery Innovation
In a bid to enhance its first- and last-mile logistics capabilities, Grab completed the acquisition of China-based Infermove, an AI robotics specialist. Infermove’s autonomous sorting and delivery robots will be integrated into GrabExpress fulfillment centers across Singapore and Malaysia, targeting a 20% improvement in delivery speed and a 12% reduction in per-parcel handling costs by mid-2026. The deal underscores Grab’s commitment to leveraging automation to maintain its competitive edge as regional logistics costs continue to rise.
4. Competitive Moat and Growth Outlook
Despite intensifying competition from regional super-apps and global players entering Southeast Asia, Grab’s integrated ecosystem—spanning mobility, delivery, financial services, and on-demand commerce—remains highly differentiated. Management projects full-year 2025 revenue growth of 18% to 22%, driven by further penetration into underbanked markets and cross-sell opportunities within its 85 million active users base. Continued margin expansion is anticipated through incremental technology investments and economies of scale in its logistics network.