Category: On-Demand Services
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Q2 2026
- GOTO Q2 2026 GoTo's Profit Nearly Tripled and Adjusted EBITDA Topped Rp1 Trillion - So Why Did the Buyback Slow 60%?Jul 30
- ETERNAL Q2 2026 Segment Profit Hit a Record Rs. 849 Crore - So Why Did Net Income Fall 47%?Jul 29
Q1 2026
- ETERNAL Q1 2026 Net Income Rose for a Third Straight Quarter - So Why Did the Full Fiscal Year Fall 31%?May 20
- SWIGGY Q1 2026 Instamart's Full-Year Loss Grew 62%. Its Own Breakeven Deadline Is Due Starting Next Quarter.May 11
- GOTO Q1 2026 GoTo's Real Operating Income Hit a Record Rp418 Billion. Its Stock Fell 20% Anyway.May 08
- GRAB Q1 2026 Grab's Stock Fell 27% This Quarter - Its Best-Ever Q1 Says the Business Didn'tMay 05
- BIRD Q1 2026 Revenue Rose 11.5% This Quarter - So Why Did Operating Profit Fall Nearly 10%?Mar 31
Q4 2025
- DHER Q4 2025 Delivery Hero Hit Its Adjusted EBITDA Target - So Why Does One Subsidiary Have a Going-Concern Warning?Apr 20
- GOTO Q4 2025 GoTo Beat Its Full-Year Guidance. Its Real Operating Loss Tripled the Same Quarter.Mar 13
- GRAB Q4 2025 Grab Just Posted Its First Full Year Of Profit - The Stock Fell 17% AnywayFeb 12
- SWIGGY Q4 2025 Two Straight Quarters of a Shrinking Loss, Bought With an 11.5% Dilution and a Quick-Commerce Business Going the Wrong WayJan 29
- ETERNAL Q4 2025 Net Income Rose for a Second Straight Quarter - So Why Is the Founder Stepping Down as CEO?Jan 29
- BIRD Q4 2025 Net Income Rose 8.7% This Year - So Why Did Bank Debt Jump 66%?Dec 31
Q3 2025
- GOTO Q3 2025 GoTo Raised Its Guidance and Turned Cash Flow Positive. Its Real Operating Line Slipped Back Into a LossNov 06
- GRAB Q3 2025 Grab Raised Guidance Twice This Year - Then Went Quiet On Capital Returns AgainNov 04
- ETERNAL Q3 2025 Revenue Nearly Doubled in a Quarter — Was Any of That Growth Real?Oct 30
- SWIGGY Q3 2025 For the First Time, the Loss Shrank From Last Quarter. It's Also Asking For More Cash It Says It Isn't Needed.Oct 30
- BIRD Q3 2025 Revenue Rose 8.5% This Quarter - So Why Did Profit Fall 15%?Sep 30
Q2 2025
- DHER Q2 2025 Delivery Hero Finally Posted a Profitable Operating Result - So Why Is a €860 Million Spain Liability Still Unrecognized?Sep 15
- GOTO Q2 2025 Why Did GoTo's Stock Crash 30% in Its Best Quarter Yet?Aug 06
- ETERNAL Q2 2025 Revenue Jumped 23% in a Quarter — So Why Did Net Income Fall a Fifth Straight Time?Aug 04
- SWIGGY Q2 2025 Instamart's Breakeven Guidance Finally Held Still. Everything Else Slowed Down To Get There.Jul 31
- GRAB Q2 2025 Grab Finished Its Buyback With Borrowed Money - Is That Capital Discipline?Jul 31
- BIRD Q2 2025 Debt-to-Equity Just Crossed 0.50x - Does the Profit Growth Make Up for It?Jun 30
Q1 2025
- ETERNAL Q1 2025 The Best Fiscal Year Ever — So Why Did Free Cash Flow Turn Negative?May 14
- SWIGGY Q1 2025 Food Delivery Finally Turned Real Money. Instamart Just Moved the Goalposts Again.May 09
- GOTO Q1 2025 Who Rewrites the Formula Behind Its Own First Profitable Year?May 08
- GRAB Q1 2025 Grab's Cash Flow Base Grew Again - So Why Did The Stock Fall?Apr 30
- BIRD Q1 2025 Net Income Jumped 43% This Quarter - So Why Did the Stock Keep Falling?Mar 31
Q4 2024
- DHER Q4 2024 How Did Delivery Hero Turn a €341 Million Operating Loss Into a €3.8 Billion Cash Pile?May 06
- GOTO Q4 2024 FinTech Hit Breakeven By Rp14 Billion. Is That a Real Turnaround?Mar 13
- GRAB Q4 2024 Grab's Stock Rallied 24% This Quarter - Its First Full Year Of Positive Cash Flow Didn't Keep UpFeb 20
- SWIGGY Q4 2024 Why Faster Growth Meant A Bigger Loss, Not A Smaller OneFeb 05
- ETERNAL Q4 2024 Net Income Has Now Fallen Three Straight Quarters - Is the Profitable Era Cracking?Jan 29
- BIRD Q4 2024 Profit Jumped 74% This Quarter - So Why Did the Stock Fall 18%?Dec 31
Q3 2024
- SWIGGY Q3 2024 The Profitable Business Bankrolling the One That Isn'tDec 18
- GRAB Q3 2024 A Full Trailing Year Of Positive Cash Flow Finally Exists - So Why Doesn't The Math Support The Price?Nov 11
- ETERNAL Q3 2024 Segment Profits Rose 12% This Quarter - So Why Did Net Income Fall 30%?Nov 06
- GOTO Q3 2024 The Highest Adjusted EBITDA Ever Posted, and a Country Exit That Never Made It Into the FilingNov 04
- BIRD Q3 2024 The Stock Jumped 32% in One Quarter - Did the Business Actually Get That Much Better?Sep 30
Q2 2024
- DHER Q2 2024 Delivery Hero's Adjusted EBITDA Nearly Tripled. Then the EU Antitrust Bill Came to €403 Million.Sep 09
- ETERNAL Q2 2024 Adjusted EBITDA Hit a Record Rs. 299 Crore - So Why Did the Re-Rating Finally Stall?Aug 16
- GRAB Q2 2024 A Second 'Positive' Free Cash Flow Quarter Still Adds Up To A Negative First HalfAug 15
- GOTO Q2 2024 GoTo Just Posted Its Best Growth Quarter Since the Turnaround. Its Stock Hit an All-Time Low AnywayJul 30
- BIRD Q2 2024 Blue Bird's Stock Fell 15% Last Quarter - Did the Business Actually Get Worse?Jun 30
Q1 2024
- ETERNAL Q1 2024 A Fully Profitable First Fiscal Year - So Why Did the Auditor Still Add an Emphasis of Matter?May 17
- GRAB Q1 2024 Adjusted EBITDA Hit A Record High - So Why Did The Net Loss Come Back?May 15
- GOTO Q1 2024 GoTo's Numbers Just Got 9% Smaller and 63% Bigger, Depending on Which One You ReadApr 30
- BIRD Q1 2024 Is Blue Bird's Margin Slide Now a Trend, Not a Blip?Mar 31
Q4 2023
- DHER Q4 2023 Delivery Hero Posted Its First Profitable Year of Adjusted EBITDA. It Also Just Wrote Off €858 Million of Goodwill.May 06
- GRAB Q4 2023 A First-Ever Profitable Quarter Comes With A First-Ever Buyback - So Why Is Cash Flow Barely Positive?Feb 22
- ETERNAL Q4 2023 Adjusted EBITDA Hit a Third Straight Positive Quarter - So Why Did the Revenue-to-GOV Ratio Just Fall?Feb 12
- GOTO Q4 2023 GoTo Hit Its Q4 Profit Target. Its Balance Sheet Just Took a Rp79 Trillion Hit to Get There.Jan 30
- BIRD Q4 2023 Why Did Profit Fall Again Despite Double-Digit Revenue Growth?Dec 31
Q3 2023
- ETERNAL Q3 2023 The Tax-Credit Asterisk Is Gone - So What's Still Not Adding Up?Nov 10
- GRAB Q3 2023 Grab Turned Adjusted EBITDA Positive For The First Time - Its 'Positive Free Cash Flow' Didn'tNov 09
- GOTO Q3 2023 The User Decline Just Stopped. Q4 Profitability Got Less Certain.Oct 26
- BIRD Q3 2023 Revenue Grew 18% YoY, But Both Profit Lines Shrank — What Broke The StreakSep 30
Q2 2023
- DHER Q2 2023 Delivery Hero Just Hit Adjusted EBITDA Breakeven. So Why Is the Stock Down 64% in Two Years?Sep 05
- MEITUAN Q2 2023 Turned Profitable Again — Then Bought Its Own Departing Co-Founder's AI StartupAug 24
- GRAB Q2 2023 Grab's Breakeven Guidance Jumped $165 Million in One Quarter - Here's What's Actually Behind ItAug 23
- ETERNAL Q2 2023 The First Profitable Quarter Ever - So Why Was the Underlying Business Still Losing Money?Aug 10
- GOTO Q2 2023 The New CEO Said Out Loud What Two Quarters of Earnings Calls Wouldn'tJul 27
- BIRD Q2 2023 Free Cash Flow Is Still Negative — But The Gap Just Shrank By Two-ThirdsJun 30
Q1 2023
- ETERNAL Q1 2023 The Slowest Revenue Growth in Two Years - So Why Did Food Delivery Just Post Its Best Quarter Ever?May 19
- GRAB Q1 2023 Revenue 'Grew' 130% - The Comparable Number Is 58%May 18
- GOTO Q1 2023 Group Contribution Margin Turned Positive Exactly on Schedule. The User Base Kept Shrinking Anyway.Apr 27
- BIRD Q1 2023 Operating Profit Nearly Quadrupled - So Why Is Free Cash Flow Still Negative?Mar 31
Q4 2022
- DHER Q4 2022 What Does It Cost to Discover a €742 Million Mistake Six Months In?May 15
- GOTO Q4 2022 On-Demand Turned Profitable for a Full Quarter. The Balance Sheet Just Absorbed an Rp11 Trillion Hit for It.Mar 20
- GRAB Q4 2022 Revenue Grew 310% - But a Tenth of It Was an Accounting ReclassificationFeb 23
- ETERNAL Q4 2022 Blinkit's First Full Quarter Landed - So Why Did the Real Story Turn Out to Be Food Delivery Stalling?Feb 09
- BIRD Q4 2022 The Best Year Since The Pandemic Came With A Negative Cash Flow QuarterDec 31
Q3 2022
- GOTO Q3 2022 Real Cost Discipline, or a Net Revenue Number That Doesn't Add Up?Nov 21
- GRAB Q3 2022 Deliveries Broke Even Three Quarters Early - At What Cost to Growth?Nov 16
- ETERNAL Q3 2022 Food Delivery Finally Turned a Profit - So Why Did Zomato's Loss Get Bigger?Nov 10
- BIRD Q3 2022 Every Metric Hit A Record. The Stock Fell Anyway.Sep 30
Q2 2022
- DHER Q2 2022 Is a Majority Stake in Glovo Worth a Dawn Raid From Brussels?Sep 05
- GOTO Q2 2022 The Margins Improved Sequentially. The Real Segment Losses Didn't.Aug 30
- GRAB Q2 2022 Revenue Beat GMV Growth for the First Time - But At What Cost?Aug 25
- ETERNAL Q2 2022 Food Delivery Finally Broke Even - So Why Give Away 7.6% of the Company for Blinkit?Aug 01
- BIRD Q2 2022 The Margin Collapse That Undid Itself In One QuarterJun 30
Q1 2022
- GOTO Q1 2022 The first earnings call after Indonesia's biggest IPOMay 30
- ETERNAL Q1 2022 The Loss Widened 435% This Quarter - So Why Did the Business Actually Get Better?May 23
- GRAB Q1 2022 Down 51% in a Quarter - Did the Business Get Worse, or Just the Stock?May 19
- BIRD Q1 2022 The Taxi Margin That Didn't Survive Its First EncoreMar 31
Q4 2021
- DHER Q4 2021 How Do You Halve a Net Loss While the Business Is Actually Losing More Money?May 05
- GRAB Q4 2021 A record debut quarter - with a DOJ investigation left out of the deckMar 03
- ETERNAL Q4 2021 Down 85% Quarter-on-Quarter - But Was the Loss Actually Shrinking?Feb 10
- MEITUAN Q4 2021 A $6 Billion Grocery Bet Hiding Inside Two Profitable BusinessesFeb 03
- BIRD Q4 2021 Did Reopening Actually Fix Taxi, or Just Pause the Bleeding for One Good Quarter?Dec 31
Q3 2021
- ETERNAL Q3 2021 Two Months After Its IPO, Already Spending Like a Holding Company?Nov 11
- BIRD Q3 2021 Was Indonesia's Delta Wave as Bad as 2020's Lockdown? The Numbers Say NoSep 30
Q2 2021
- DHER Q2 2021 Woowa Is Finally in the Numbers. So Is a Restated Two-Year-Old Accounting ErrorSep 20
- DASH Q2 2021 Why Is DoorDash Suddenly Losing More Money Than It Did a Year Ago?Aug 19
- ETERNAL Q2 2021 A Founder's Stock Grant, Almost Exactly the Size of the Quarter's Adjusted LossAug 10
- BIRD Q2 2021 Blue Bird's Q2 Revenue 'Doubled' YoY - But the Comparison Quarter Was the Full LockdownJun 30
Q1 2021
- DASH Q1 2021 Is DoorDash Now Paying for the Ballot Measure It Won?May 21
- BIRD Q1 2021 One Year After Indonesia's First Covid Quarter, Is Blue Bird's Base Actually Low Enough to Beat?Mar 31
Q4 2020
- DHER Q4 2020 To Buy Korea's Biggest Delivery App, Delivery Hero Had to Sell Its OwnMay 20
- DASH Q4 2020 A Record IPO Year, Funded in Part by a Ballot Measure It Quietly BankrolledMar 05
- BIRD Q4 2020 Blue Bird's First Annual Loss Since Its IPO - So Why Did the Stock Rally 51% in Q4?Dec 31
Q3 2020
Q2 2020
- DHER Q2 2020 Orders Doubled in a Pandemic. So Did the Losses. Where's the €3.25 Billion Going?Sep 15
- BIRD Q2 2020 Net Revenue Fell 71.6% Once Jakarta's Lockdown Actually Hit - and Management Finally Cut Its Own PayJun 30
Q1 2020
- BIRD Q1 2020 The Taxi Business Just Posted Its First-Ever Loss - Before Jakarta Even Locked DownMar 31
Q4 2019
- DHER Q4 2019 Is Delivery Hero's First Annual Profit Actually Two Different Numbers?Feb 18
- BIRD Q4 2019 FY2019: Profit Down 31%, But the Acer Fight Is Finally OverDec 31
Q3 2019
Q2 2019
- LYFT Q2 2019 The IPO Charge Was One-Time. The New $300M-a-Quarter Bill Isn't.Aug 19
- UBER Q2 2019 A Record $5.2 Billion Quarterly Loss - And the Core Business Actually Got Healthier. How?Aug 16
- DHER Q2 2019 Can a €721 Million Profit Really Just Be an Accounting Artifact?Aug 08
- BIRD Q2 2019 The Stock Corrected 18% This Quarter - So Why Did the P/E Get More Expensive?Aug 08
Q1 2019
- UBER Q1 2019 Was the Core Business Actually Losing Money Right Before the IPO?Jun 04
- LYFT Q1 2019 A Billion-Dollar Debut Loss That's Mostly a Bill for Going PublicMay 17
- BIRD Q1 2019 Profit Fell 10% and the Stock Rallied 21% Anyway - What Actually Changed This Quarter?May 10
Q4 2018
- DHER Q4 2018 Whatever Happened to That First-Ever Profit?Feb 20
- BIRD Q4 2018 Full-Year Revenue Finally Turned Positive - So Why Did a New Lender Show Up in Q4?Feb 06
Q3 2018
Q2 2018
- DHER Q2 2018 How Do You Post Your First-Ever Profit While Burning More Cash Than Ever?Oct 15
- BIRD Q2 2018 Revenue Fell for a Sixth Straight Quarter - So Why Did Net Income Jump 21%?Aug 03
Q1 2018
Q4 2017
- DHER Q4 2017 Why Did the Loss Grow 79% in a Year the Business Actually Got Better?May 04
- BIRD Q4 2017 The Stock Gave Back Nine Months of Gains in One Quarter - Did the Business Actually Get Worse?Apr 09
Q3 2017
Q2 2017
- BIRD Q2 2017 Go-Jek Went Live Five Months Ago. The Numbers Still Don't Show It.Aug 05
- DHER Q2 2017 A Record Growth Half-Year, With a Net Loss That Grew Even FasterAug 04