Swvl reports $24.2 million revenue, returns to profitability

Swvl Holdings Corp (NASDAQ: SWVL) reported fiscal year 2025 revenue of $24.2 million, representing a 41% increase from $17.2 million in the previous year, according to the company's earnings statement.

The Dubai-based mobility solutions provider returned to profitability with net income of $1.3 million, compared to a net loss of $10.3 million in fiscal 2024. The company's operating loss narrowed 94% to $0.5 million from $8.5 million in the prior year.

Business-to-business revenue grew 56% to $20.3 million, representing 84% of total revenue compared to 75% in the previous year. The Gulf Cooperation Council region drove significant growth with revenue increasing 122% to $8.0 million, while Egypt revenue rose 20% to $16.2 million.

Operating expenses declined 36% to $7.2 million from $11.2 million, with general and administrative expenses falling 39.5% to $6.7 million. The company reduced staff costs by 43% and technology costs by 38%.

Swvl reported net dollar retention of 128% and entered fiscal 2026 with a sales backlog of $38.2 million. Recurring revenue reached 84% of total revenue, up from 75% in the prior year, while dollar-pegged revenue increased to 33% from 23%.

The company's total equity returned to positive $2.9 million from negative $0.7 million in fiscal 2024. Cash and cash equivalents stood at $4.41 million at year-end, down from $4.96 million the previous year.

"We grew revenue 41% to $24.2 million, turned profitable, and more than doubled our GCC business," said CEO Mostafa Kandil in the earnings statement.

Swvl provides technology-enabled mass mobility solutions for enterprises and governments across Egypt, Saudi Arabia, the UAE, Kuwait, and the United Kingdom.

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