Investors in Southeast Asian superapp Grab — who have seen the price of the company’s Nasdaq-listed shares more than halve this year — may finally get to see light at the end of the tunnel. The Singapore-based company’s third quarter results showed some signs that the company is moving towards profitability, at least in some segments of its operations.
Grab saw its deliveries segment achieve positive adjusted EBITDA for the first time in Q3 — nine months ahead of expectation. Its core food deliveries sub-segment also turned adjusted EBITDA positive in Q3, two quarters ahead of its previous guidance.