ASX-listed telecommunications provider Swoop has reported a 20% bump in revenue from FY24 to FY25, posting results of $106.5 million in revenue while also delivering a 32% organic growth in underlying recurring revenue.
The company's FY25 results saw the company deliver an underlying EBITDA of $15.2 million.
Core Business EBITDA, which excludes one-off co build projects and discontinued operations, was up 14% on FY24.
Swoop also saw a 14% increase in total subscriber numbers from June 2024, all from organic growth.
Along with a total of $18.1 million of available funding as of 30 June 2025, providing what the company describes as "significant firepower for organic and strategic opportunities", a $6.2 million divestment of Vonex shares was also announced, expected to complete in October 2025.
At the start of this year, Swoop announced it had signed a three-year agreement to provide wholesale internet services to nbn and IPTV provider Flip, with the deal expected to add over $10 million revenue annually with "further upside" as Flip's subscriber base grows.
Swoop CEO Alex West said FY25 has been nothing short of transformational for Swoop.
"Our strategy of simplifying operations and investing in automation has unlocked powerful efficiencies, accelerating organic growth across our key product lines," he said.
"The 32% surge in recurring revenue, 64% uplift in operating cash flow, and our first full year of positive free cash flow are a testament to the strength of our model and the discipline of our execution.
"Our fibre infrastructure expansion, backed by long-term contracts with global tech leaders, is reshaping the digital landscape in Greater Melbourne. Our landmark deal with Flip further cements Swoop as the go-to partner for scalable, high-performance wholesale internet services.
"With $18.1 million in available funding and a further $6.2 million to be released upon the Vonex divestment, we’re entering FY26 with confidence, capability, and a bold mission: to redefine connectivity in Australia; faster, smarter, and more customer-focused than ever before.”
