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An update from Swoop Holdings Limited ( (AU:SWP) ) is now available.
Swoop Holdings reported strong operating momentum for the March quarter, with customer receipts rising 35% year-on-year to $36.6 million, driven by accelerating NBN and mobile growth and contributions from the Melbourne Fibre Project. Monthly recurring sales climbed 67% and monthly revenue 17%, while available funding of $11.2 million, including $4.2 million in cash, underpins completion of the fibre rollout and further expansion in its core offerings.
Free cash flow improved by $0.7 million versus the prior corresponding period to negative $3.3 million, and on an underlying basis excluding Melbourne Fibre cash flows, the core business generated about $1.1 million of positive free cash flow, highlighting emerging operating leverage. Management has already delivered approximately $1.1 million in annualised cost savings as part of a broader plan to cut the cost base by 10–20% into FY27, while proceeds of $9.66 million from an entitlement offer continue to support working capital, capital expenditure and the Melbourne project.
The quarter also brought a change in governance roles, with the resignation of company secretary Louise Bolger and the appointment of Hasaka Martin of Singleton CoSec, who will oversee ASX communications on listing rule matters from 1 May 2026. No material post-quarter events were reported, and related-party payments for the period were limited to $50,000 in directors’ fees, indicating a relatively clean capital management and disclosure profile for investors monitoring governance and liquidity.
More about Swoop Holdings Limited
Swoop Holdings Limited is an Australian telecommunications provider focused on NBN, mobile and fibre-based services. The company is expanding its network infrastructure, including the Melbourne Fibre Project, to support growth in residential and business connectivity across its core markets.
Average Trading Volume: 88,684
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$35.77M
For an in-depth examination of SWP stock, go to TipRanks’ Overview page.