Alexander Hungate on Q1 2026 Earnings
From Grab Q1 2026 Earnings · · Elijah Cheng
“We set out to start 2026 strongly and we delivered. Against the backdrop of our seasonally softest quarter due to Ramadan and Chinese New Year, on-demand GMV growth accelerated to 24% year-on-year, while group MTUs increased to 52 million. In financial services, loan disbursements grew 67% to exceed $1 billion for the first time, and we remain on track for our financial services segment to achieve adjusted EBITDA break even in the second half of this year.”
On , Alexander Hungate, President & Chief Operating Officer at Grab Holdings, spoke about Q1 2026 Earnings during Grab Q1 2026 Earnings on Elijah Cheng.
About Alexander Hungate
Alexander Hungate, President and Chief Operating Officer of Grab Holdings, discussed the company's first-quarter 2026 earnings on May 4, 2026. He stated that the company had a "phenomenal quarter," with revenue growing 24% year-over-year, on-demand gross merchandise value (GMV) up 24%, adjusted EBITDA of $154 million (up 46%), and adjusted free cash flow of $98 million. Hungate attributed the strong performance partly to seasonal factors like Chinese New Year and Ramadan being concentrated in the first quarter. He noted that the company made a conscious decision to invest in AI infrastructure, including a tokenization stack and cloud capacity, and said early returns from these investments are showing up in the numbers, with over 50% adoption of a driver AI system generating 1.25 million interactions in two months. Hungate also addressed several strategic initiatives. He announced that Grab is advancing its buyback mandate with a $400 million accelerated share repurchase program, which he described as a reflection of the company's conviction in its long-term value. Regarding electric vehicles, Hungate said Grab is committed to accelerating the EV transition to reduce driver partners' exposure to fuel price volatility, citing a "drive to own" program in Thailand and the Philippines connecting drivers with OEMs like BYD and GAC, with deals for up to 70,000 vehicles across six markets. On regulatory matters in Indonesia, Hungate stated that recent government announcements focused on "Ojol" (two-wheel ride-hailing) drivers, while four-wheel drivers earn well above the minimum wage and are "less of a concern for government and regulators."