Singapore-based super app Grab‘s revenue in 2025 grew 20 percent year on year, reaching a record $3.37 billion as the firm continued to grow to expand its user base, improve frequency and engagement in the platform, and optimize incentive levels.

This marked a significant rise from $469 million in 2020 and $675 million in 2021. Grab first crossed the $1-billion milestone in 2022 with revenue of $1.43 billion, and reached $2.36 billion in 2023.

According to figures from Grab’s 2025 annual report, recently submitted, to the United States Securities and Exchange Commission (SEC), Malaysia remained the company’s largest market from 2022 to 2025, while Singapore was its top revenue contributor in 2020–2021.

In 2025, Grab generated $1.04 billion in revenue from Malaysia, the only market exceeding $1 billion. Other leading markets were Singapore with $727 million, Indonesia with $715 million, the Philippines with $316 million, followed by Thailand and Vietnam with $288 million and $255 million, respectively.

Source: Grab’s annual report 2025

Grab’s report also showed that deliveries were the largest revenue contributor at $1.8 billion, followed by mobility with $1.22 billion, financial services with $347 million, and other activities with $4 million.

The firm’s profit for the year was $200 million, a $358 million improvement year on year, driven by improvements in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), increases in net finance income and lower share-based compensation expenses. Its adjusted EBITDA for the full year was $500 million, an increase of $187 million compared to $313 million in 2024.

Grab is eyeing $4.04 billion to $4.10 billion of revenue in 2026, a 20 percent to 22 percent growth from last year.

Grab posts first full year net profit with 20 percent revenue growth