Swoop Holdings reports $115.9M FY26 revenue
Full story: https://grafa.com/en/news/australia/swoop-holdings-reports-115-9m-fy26-revenue
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Swoop Holdings reported a 21.8% revenue increase to $115.9 million for FY26 as core broadband and mobile services expanded.
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Underlying EBITDA declined by $2.8 million to $6.1 million due to elevated supplier fees and increased marketing expenditures.
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The company executed non-core asset sales and integrated a three-year wholesale deal with TPG Telecom to drive margin growth.
Swoop Holdings (ASX:SWP) reported annual revenue of $115.9 million for FY26, representing a 21.8% increase driven by expanding subscriber numbers.
The growth contrasts with an underlying EBITDA drop from $8.9 million to $6.1 million, caused by higher supplier fees and marketing costs.
Total operating expenses increased $2.3 million to $25.7 million, improving to 22% of revenue from 25% in FY25.
"The growth in subscriber numbers was indicative of the focus on mobile and nbn. Our dual brands, Swoop and Moose, both outperformed many of their peers," said Swoop Holdings Executive Chairman Tony Grist.
The business recorded an impairment charge of $20 million while securing approximately $11 million from selling its Melbourne fibre network.
The company stated that its recent wholesale agreement with TPG Telecom (ASX:TPG) is expected to lead its strategic effort to increase product margins.
During FY26, Swoop’s incumbent mobile network supplier significantly increased mobile charges.
The increased charges were not fully passed on to customers to maintain the customer base ahead of the transition to TPG as a new supplier in FY27.
Following the announcement, the Swoop Holdings share price was unchanged at $0.10.
Swoop Holdings operates as an Australian telecommunications provider delivering broadband, mobile, and voice services across fixed wireless and national network access.
The business recently completed a balance sheet recapitalisation via an entitlements issue alongside board and executive leadership restructuring.
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