Reports Q4 revenue $653M, consensus $628.98M. “2023 was a pivotal year for us. We generated over $11B of earnings for our partners, achieved strong top-line growth as we exited the year with Mobility GMV above pre-COVID levels and Deliveries GMV growth re-accelerating, while also reaching Adjusted EBITDA profitability in the year,” said Anthony Tan, CEO. “We will continue to execute towards sustainable and profitable growth in 2024, as we deepen engagement with our users through affordable and high value offerings, grow our Financial Services business, while continuing to outserve our driver- and merchant-partners.” “We reported a strong set of results in the fourth quarter, recording our eighth consecutive quarter of Adjusted EBITDA improvements,” said CFO Peter Oey. “As we execute on our strategies in 2024, we expect to drive continued improvements in Adjusted EBITDA and Adjusted Free Cash Flow. In the medium term, we see between 100 to 200 basis points of upside to our Segment Adjusted EBITDA margins for Deliveries, as we continue to drive growth in On-Demand GMV and accelerate year-over-year revenue growth rates beyond 2024. With our robust balance sheet position, we are pleased to announce that our Board of Directors has authorized our first share repurchase program of up to $500M and the repayment of the outstanding balance of our Term Loan B.”
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