Swoop Holdings Limited (ASX:SWP) Reports 1H FY25 Financial Results
Financial Performance
Swoop Holdings Limited (ASX:SWP) reported a 5% increase in revenue for the first half of FY25, reaching $45.8 million. The underlying EBITDA stood at $7.3 million, marking a 12% rise compared to 1H FY24. The company achieved a strong long-term growth with a three-year revenue CAGR of 24% and an underlying EBITDA CAGR of 11%.
Subscriber Growth and Contracts
The total number of subscribers increased by 24% to 200,726 as of December 2024, driven by organic growth. Mobile subscribers reached 128,349, up by 9%, while non-mobile subscribers surged by 67% to 72,377. Swoop secured a three-year agreement with Flip to provide wholesale internet services, expected to generate over $10 million in annual revenue. Additionally, a key customer contract with committed revenues of up to $36 million over 22 years has been signed for constructing and operating a fibre network in Greater Melbourne.
Operational Highlights
In July 2024, Swoop completed the divestment of its Wholesale Voice Business for $8.8 million. The company holds $15.5 million in available funding as of December 2024 to support both organic growth and potential acquisitions.
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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