Grab Holdings ($GRAB) reported a solid Q4 2025 with 19% YoY revenue growth and a new $500M share buyback, but the FY26 guidance for 22% revenue growth and 45% Adjusted EBITDA growth is below market expectations of 25% and 55%, respectively. While the company projects a 20% revenue CAGR until 2028 and expects $1.5 billion in Adjusted EBITDA by 2028, the guidance is not strong enough to impress the street, potentially leading to downward pressure on the stock despite strong underlying metrics.