Grab Holdings Ltd. reported its financial results for the first quarter of 2025, showcasing an 18% year-over-year increase in revenue on a constant currency basis, reaching $773 million. The company's On-Demand Gross Merchandise Value $(GMV.AU)$ grew by 16% year-over-year, or 17% on a constant currency basis, totaling $4.9 billion. Profit for the quarter improved by $125 million year-over-year, resulting in a net profit of $10 million. Adjusted EBITDA saw an increase of $44 million year-over-year, reaching a record high of $106 million. The company also highlighted its strong operating cash flow, which stood at $936 million, and its adjusted free cash flow on a trailing 12-month basis amounted to $157 million. Grab's deliveries segment experienced an 18% year-over-year revenue growth, driven by an increase in Deliveries GMV and contributions from its Advertising business. In terms of business outlook, Grab expects continued growth in the second quarter, aiming for strong sequential On-Demand GMV and overall revenue increases, while maintaining cost discipline. The company has raised its full-year Adjusted EBITDA guidance to a range of $460 million to $480 million. Grab's platform saw a record number of users and an increased number of active driver- and merchant-partners despite the seasonal demand impacts from the Lunar New Year and Ramadan fasting period. The company continues to focus on harnessing AI and technological capabilities to improve the reliability and affordability of its offerings, positioning itself to navigate uncertainties in the global macroeconomic landscape.