President and Chief Operating Officer Alex Hungate said in an interview at Grab’s Singapore headquarters that the company aims to grow revenue by more than 20% annually over the next three years, News.Az reports, citing Reuters.
It is also targeting a tripling of EBITDA to $1.5 billion by 2028, compared with last year’s level.
The ride-hailing sector in Southeast Asia has shifted from aggressive, subsidy-driven growth to a stronger focus on profitability. Companies are facing rising operating costs while seeking to maximize returns through AI-powered “super apps” that bundle transportation, food delivery and financial services.
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Earlier this month, Nasdaq-listed Grab reported its first-ever full-year net profit in its 2025 results — 14 years after its founding and following billions of dollars raised from investors. However, its 2026 revenue and adjusted EBITDA forecasts fell short of Wall Street expectations, sending shares lower. Grab’s stock has dropped more than 15% this year, compared with declines of 11% for Uber and 31% for Lyft.
In a recent research note, Huatai Securities cautioned that heavier investments in autonomous vehicle partnerships and AI development could weigh on profitability. The firm also flagged risks such as slower-than-expected user growth and broader macroeconomic volatility.
Hungate said Grab plans to reach its 2028 goals by improving efficiency within its core app and delivery network. With users already engaging frequently with the platform, Grab can bundle services — including mobility, food delivery and groceries — at a lower incremental cost.
The company operates in more than 900 cities across Southeast Asia and is expanding its financial services offerings. According to Hungate, Grab can leverage its extensive data to assess credit risk more accurately than traditional banks when underwriting loans.
Grab has also made limited moves beyond Southeast Asia, including an acquisition in U.S. wealth management platform Stash. However, Hungate emphasized that the company’s “first and best” use of cash remains reinvesting in Southeast Asia to drive organic growth, while remaining open to selective acquisitions.
He added that there are currently no plans for a secondary listing and provided no update regarding media reports of a potential merger with Indonesian rival GoTo.
Looking ahead, Grab is exploring the development of AI agents designed to boost user loyalty, including automated assistants for drivers and merchants. While the company collaborates with foundational model providers such as OpenAI, Hungate said Grab prefers to build its own AI agents rather than directly integrating widely used chatbots like ChatGPT.
“We think that our brand and the frequency with which customers use us will mean that the agents that we deploy will be ones that do a better job for them,” Hungate said.
