• Divesting non-core offerings to focus on core products
• Targeting $5m+ margin increase through mobile and nbn user base
• Forecasting 187k mobile/nbn SIOs by FY25, 300k+ by FY30

Swoop Holdings Ltd (ASX: SWP) presented its AGM update, outlining its strategic priorities and financial outlook. The key points include:- Divesting non-core offerings such as data centers, non-strategic fibre networks, and fixed wireless networks to focus on its core fibre and nbn businesses. The company has received $9-10m in non-binding indicative offers and has $3-5m in contract negotiations for these divestments.- Targeting a $5m+ margin increase through renegotiating supply contracts and benefiting from scale in its mobile and nbn products. The company aims to improve gross margins by ~10% across its core products over the next 2-3 years.- Forecasting significant growth in its mobile and nbn user base, from 187k SIOs in FY25 to over 300k by FY30. This is expected to drive a near doubling of recurring revenue from ~$95m in FY25 to over $185m in FY30, and an increase in underlying EBITDA from ~$15m in FY25 to over $35m in FY30.- Highlighting the company's strong performance and customer satisfaction in its mobile and nbn businesses, which have received numerous industry awards.- Providing an update on the progress of its $100m+ Melbourne fibre network project, which is on track with 65km built to date and 95% of the project under fixed-price contracts.

Swoop is forecasting the following financial metrics:- Recurring revenue of ~$95m in FY25, growing to over $185m in FY30- Underlying EBITDA of ~$15m in FY25, growing to over $35m in FY30- Mobile and nbn SIOs of 187k by FY25, growing to over 300k by FY30

Swoop is focused on divesting non-core offerings to concentrate on its core fibre and nbn businesses. The company is targeting a $5m+ margin increase through renegotiating supply contracts and benefiting from scale in its mobile and nbn products over the next 2-3 years. Swoop is forecasting significant growth in its mobile and nbn user base, which is expected to drive a near doubling of recurring revenue and an increase in underlying EBITDA by FY30.