Half Year 2026 Swoop Holdings Ltd Earnings Call Transcript
Key Points
- Swoop Holdings Ltd (ASX:SWP) achieved a 41% year-on-year revenue growth, reaching $64.1 million for the first half of FY26.
- The company reported a 9% increase in total services in operation, totaling 219,000 as of December 2025.
- Swoop Holdings Ltd (ASX:SWP) completed the $6.2 million divestment of Vonex shares and raised $10 million through an entitlement offer, strengthening its cash position.
- The Melbourne Fiber rollout is backed by customer contracts providing $61.5 million in revenues over the next 22 years.
- The company received multiple industry awards, including ProductReview and Canstar awards, reflecting strong customer satisfaction and operational excellence.
- Underlying EBITDA for the half was down 10% year-on-year, reflecting temporary margin compression.
- Operating cash flow was negative $4.1 million, primarily due to a significant reduction in accounts payable.
- Free cash flow declined to negative $14.9 million, impacted by one-off investments in technology platforms.
- Gross margin declined from 36% to 27%, due to the rapid growth of lower-margin products such as NBN and mobile.
- Net loss after tax was $0.8 million, including $8.9 million in depreciation and amortization.
Hello, everyone, and thank you for joining us here today. My name is Alex West, and I am the CEO of Swoop. And joining me is Patricia Jones, our CFO. Again, thank you for being here as we walk through our FY26 first half year results and going through the presentation that was released on the ASX platform earlier today. So as we go to slide 4, we talk about who we are.
Swoop is a premium provider of residential and SMB broadband operating across our own high-margin fiber and fixed wireless infrastructure as well as via the NBN for national coverage. We also serve mobile customers under the Moose Mobile brand, leveraging a national MVNO on the Optus Network. Our strategy of automated operations and targeted product focus continues to deliver exceptional results. We achieved a 41% growth year-on-year, with $64.1 million in revenue for the half. We delivered 6% growth year-on-year in gross margin with $17.5 million for the half.
And at December 2025, our total services in operation were 219,000, up 9% from the same time last year
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