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Grab Grab Reports Second Quarter 2021 Results September 13 , 2021 • Gross Merchandise Value reached an all - time high of $ 3.9 billion , up 62 % year - over - year • Adjusted Net Sales reached a new quarterly record of $ 550 million , increasing 92 % year - over - year • Revenue grew to $ 180 million , up 132 % year - over - year • Deliveries continues to outperform with 68 % year - over - year growth in Adjusted Net Sales • New report by NielsenIQ finds Grab¹ to be the most - often used brand in Indonesia for online food delivery and ride - hailing ; OVO² is the most - often used e - wallet for payments SINGAPORE & MENLO PARK , Calif .-- ( BUSINESS WIRE ) -- Grab Holdings Inc. , Southeast Asia's leading superapp , today announced financial results for the quarter ended June 30 , 2021. The company posted record Gross Merchandise Value and Adjusted Net Sales of $ 3.9 billion and $ 550 million respectively . Total revenue was $ 180 million , up 132 % year - over - year ( " YoY " ) . Adjusted EBITDA for Q2 2021 was $ ( 214 ) million and Net Loss was $ ( 815 ) million . Grab's planned business combination with Altimeter Growth Corp. ( Nasdaq : AGC ) , a special purpose acquisition company , continues to progress and is expected to close in the fourth quarter . " We had a strong quarter with double , and in some cases , triple - digit growth year - over - year across all of our core verticals . This was in spite of a worsening COVID - 19 environment , which saw many Southeast Asian countries tightening movement restrictions as cases surged , " said Anthony Tan , Group CEO and Co - founder of Grab . " Our growth is testament to the resilience of our superapp business model and the significant market opportunity in the region . As the platform becomes more relevant to everyday life in Southeast Asia , we've seen user spend grow by 27 % year over year . At the same time , we're creating more opportunities for merchants - our GrabFood merchant base has more than doubled , while merchants using GrabPay nearly tripled . " Peter Oey , Chief Financial Officer of Grab , commented , " We achieved a record quarter in terms of Gross Merchandise Value and Adjusted Net Sales , and continue to experience strong traction in our newer services like GrabMart and PayLater . While the COVID - 19 situation on the ground is challenging , our business continues to be resilient , and we are increasing our investments in our superapp ecosystem in anticipation of the market recovery as vaccination rates improve . Our deliveries business continues to outperform and is growing rapidly , with the addition of new offerings such as GrabMart and GrabSupermarket , and we expect to continue investing heavily in this segment . " Second Quarter 2021 Financial and Operational Highlights • Gross Merchandise Value ( GMV ) grew 62 % YoY to reach $ 3.9 billion , a new record for Grab . Deliveries and mobility demonstrated strong YoY GMV growth of 58 % and 93 % respectively , in spite of governments tightening movement restrictions on the back of the COVID - 19 pandemic . • Adjusted Net Sales reached a new all - time high of $ 550 million , up 92 % YoY . • Revenue grew 132 % YoY to $ 180 million . • Adjusted EBITDA of $ ( 214 ) million was down by $ 8 million YoY . • Net loss , which includes $ 608 million in non - cash items for interest accrued on Grab's convertible redeemable preference shares , stock based compensation , depreciation and amortization , was $ ( 815 ) million , compared to $ ( 718 ) million in Q2 2020 . • Monthly Transacting Users grew 28 % YoY , while spend per user , defined as GMV per Monthly Transacting Users ( MTU ) , increased by 27 % YoY . • Registered GrabFood merchants more than doubled YoY in Q2 2021 , compared to Q2 2020 , while registered GrabPay merchants nearly tripled . • As of June 30 , 2021 , Grab had cash liquidity of $ 5.3 billion , an increase of $ 1.6 billion from $ 3.7 billion as of December 31 , 2020 . Three Months Ended ( $ millions , unless otherwise stated ) 2020-2021 % Change June 30 , Financial Measures : 2021 2020 ( unaudited ) ( unaudited )