Swoop's H1 FY26 revenue jumps 41%

Australian telecommunications provider Swoop has reported its results for the first half of FY26, achieving $64.1 million in revenue, representing a 41% increase year-on-year.

Revenue from internet, data and mobile services grew organically by 27% to $56.1 million.

Swoop delivered underlying EBITDA of $6.5 million in 1H FY26; that figure was down from uEBITDA of $7.2 million in 1H FY25.

The company also reported a loss after income tax of $800,699 for the first half of FY26.

Working capital - current assets less current liabilities - is in a net deficit position of $15.2 million as of 31 December 2025; that number is improved from a net deficit of $18.5 million of 30 June 2025, however.

The working capital deficiency is largely due to the funding of the company's capital expenditure with operating cash flows as it invests in its network, as well as the automation and optimisation of operational platforms and systems for growth.

As of 31 December 2025, Swoop held $16 million in available funding, including $6.2 million in cash, further strengthening the Company’s balance sheet and supporting ongoing growth initiatives.

Swoop’s board and management team have recently intensified their focus on improving margins across the business, with a gross margin increase of between 5% and 10% targeted company-wide. 

A range of initiatives are underway to support this objective, including one-off investments in key technology growth platforms and ongoing supplier contract renegotiations. 

The full benefit of these margin improvements is expected to be realised in FY27. In parallel, the company is pursuing cost reduction initiatives across multiple areas of the business, with operational cost reductions of between 10% and 20% targeted. The full impact of these cost efficiencies is also anticipated to be realised in FY27.

Over the past 12 months, Swoop has also tripled its NBN market share.

The company continues to progress its Melbourne Fibre Project, underpinned by approximately $60 million in long-term contracts to provide Swoop-owned fibre infrastructure to a NASDAQ-listed global technology company and other customers.

This strategic infrastructure investment expands Swoop’s reach across key digital infrastructure zones in greater Melbourne.

Swoop CEO Alex West said the results demonstrate the strength of the Company’s organic growth strategy and its disciplined focus on operational performance.

“Our 41% revenue growth highlights the increasing demand for reliable internet and mobile services," he said.

“We have continued to deliver record sales across our core product suite while strengthening customer satisfaction and expanding our NBN market share. This reflects both the quality of our network and the strength of our operating model.”

“Our focus remains on operational excellence, margin expansion and delivering long-term shareholder value, with FY27 expected to reflect the full benefits of the initiatives currently underway.”