• Revenue of $106.5 million, up 20% YoY
• Underlying EBITDA of $15.2 million
• Operating Cash Flow of $17.6 million, up 64% YoY
• 14% increase in total subscriber numbers from June 2024

Swoop Holdings Ltd has announced its FY25 full year results, delivering record growth and strong financial performance. The company reported revenue of $106.5 million, up 20% year-over-year, driven by a 32% organic growth in underlying recurring revenue. Underlying EBITDA was $15.2 million, with the core business EBITDA (excluding one-off projects and discontinued operations) up 14% on FY24. Operating cash flow increased by 64% year-over-year to $17.6 million, and the company achieved its first full year of positive free cash flow at $5.1 million, a turnaround from $(5.7) million in FY24. Swoop also saw a 14% increase in total subscriber numbers from June 2024, all from organic growth, and a 300% improvement in NBN market share over the last 12 months, now at 0.69%. The company continued to simplify its business through automation and product focus, delivering strong organic growth and significant synergies. Swoop has $18.1 million of available funding as at 30 June 2025, including $8.0 million in cash, and expects to receive an additional $6.2 million from the divestment of Vonex shares. The company has also secured key customer commitments valued up to $49 million over 22 years, supporting a major fibre network build in Greater Melbourne, and signed a 3-year agreement to provide wholesale internet services to Flip, expected to add over $10 million in revenue annually.

Swoop expects to deliver continued strong organic growth in its core business, with the Flip wholesale agreement expected to add over $10 million in revenue annually, with further upside as Flip's subscriber base grows.

Swoop is entering FY26 with confidence, capability, and a bold mission to redefine connectivity in Australia, faster, smarter, and more customer-focused than ever before. The company's investment in automation and simplification of operations has unlocked powerful efficiencies, accelerating organic growth across its key product lines.