Grab Holdings Ltd and GoTo Group Financial Update
Indonesia’s GoTo Group has reported its fourth consecutive quarter of adjusted profit, marking significant progress in cost management and revenue enhancement amid intense competition in the ride-hailing and delivery sectors. The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 427 billion rupiah (approximately US$26 million) for the second quarter, as stated in a recent announcement. This figure represents a substantial improvement from the pro-forma loss of 64 billion rupiah recorded a year earlier.
Net revenue, which excludes incentives to driver and merchant partners and promotions to users, saw a 23% increase on a pro forma basis, reaching 4.3 trillion rupiah. GoTo’s strategic cost-cutting measures, including job reductions and the closure of certain business units, have been pivotal in this turnaround. These efforts come as user growth stabilizes and competition from regional players, including Singapore’s Grab Holdings Ltd, continues to impact margins.
Despite these positive developments, investor sentiment remains cautious. GoTo’s stock price has declined by about 80% since its initial public offering in Jakarta in 2022. However, the shares have experienced a more than 20% increase over the past 12 months, reflecting the company’s improving earnings trajectory.
In a potential market-shifting move, Grab Holdings Ltd has been reportedly considering a takeover of GoTo at a valuation exceeding US$7 billion. This development, as reported by Bloomberg News, could significantly alter the competitive landscape in the region. However, Grab has publicly downplayed the likelihood of such a deal, stating in June that it is not currently engaged in discussions.
Grab Holdings Ltd Overview
Grab Holdings Limited, a Nasdaq-listed company, operates across various sectors, including delivery management, mobility, financial services, and enterprise software solutions. As of August 7, 2025, the company’s close price stood at USD 4.88, with a market capitalization of approximately USD 19.56 billion. The company’s 52-week high was USD 5.72, recorded on November 20, 2024, while the 52-week low was USD 3.12, noted on August 15, 2024. Grab’s price-to-earnings ratio is notably high at 104.43, reflecting investor expectations and market dynamics.
Grab continues to expand its global footprint, leveraging its diverse service offerings to cater to a wide range of customer needs. The company’s strategic initiatives and potential market moves, such as the rumored acquisition of GoTo, underscore its ambition to strengthen its position in the competitive landscape of Southeast Asia’s tech-driven industries.