Grab Holdings Limited (NASDAQ:GRAB) Q3 2024 Earnings Conference Call November 11, 2024 7:00 PM ET

Company Participants

Douglas Eu - Director of Investor Relations and Strategic Finance
Anthony Tan - Chief Executive Officer
Alex Hungate - Chief Operating Officer
Peter Oey - Chief Financial Officer

Conference Call Participants

Pang Vittayaamnuaykoon - Goldman Sachs Group, Inc.
Mark Mahaney - Evercore
Ranjan Sharma - JPMorgan Securities
Jiong Shao - Barclays
Sachin Salgaonkar - Bank of America Merrill Lynch
Alicia Yap - Citigroup, Inc.
Divya Kothiyal - Morgan Stanley

Operator

Ladies and gentlemen, thank you for joining us today. My name is Sierra, and I will be your conference operator for this session. Welcome to Grab's Third Quarter 2024 Earnings Results Call. After the speakers' remarks, there will be a Q&A session.

I will now turn it over to Douglas Eu to start the call.

Douglas Eu

Good day, everyone, and welcome to Grab's third quarter 2024 earnings call. I'm Douglas Eu, Director, Investor Relations and Strategic Finance at Grab. And joining me today are Anthony Tan, Chief Executive Officer; Alex Hungate, Chief Operating Officer; and Peter Oey, Chief Financial Officer.

During this call, we will be making forward-looking statements about future events, including our future business and financial performance. These statements are based on our current beliefs and expectations. Actual results could differ materially due to a number of risks and uncertainties as described in this earnings call, in the earnings release and in our Form 20-F and other filings with the SEC. We do not undertake any duty to update any forward-looking statements.

We will also be discussing non-IFRS financial measures on this call. These measures supplement but do not replace IFRS financial measures. Please refer to the earnings materials for a reconciliation of non-IFRS to IFRS financial measures. For more information, please refer to our earnings press release, remarks and supplemental presentation available on our IR website.

And with that, I will turn the call over to Anthony to deliver his opening remarks before we open it up for questions.

Anthony Tan

Thank you so much for joining us today. Third quarter 2024 was a strong quarter for us. The investments we have made or been making across the business drove an acceleration of our On-Demand GMV growth year-on-year. We continue to leverage our platform scale to drive profitable growth, of group adjusted EBITDA more than tripling year-on-year to reach another record high of $90 million, and our 11th consecutive quarter of adjusted EBITDA improvement.