Swvl Reports 41% Revenue Growth, $1.3M Net Income in FY2025
Swvl's FY2025 revenue grew 41% to $24.2 million while net income reached $1.3 million, turning from a $10.3 million loss in FY2024. Operating loss narrowed 94% to $0.5 million, GCC revenue climbed 122%, net dollar retention hit 128%, and sales backlog reached $38.2 million.
1. FY2025 Turnaround Highlights
Swvl delivered a financial turnaround in FY2025 with revenue up 41% to $24.2 million and net income of $1.3 million, compared to a $10.3 million loss in FY2024. Operating loss narrowed 94% to $0.5 million, marking a near return to operating profitability.
2. Regional Revenue Growth
Revenue in Egypt grew 20% to $16.2 million, driven by expansions in manufacturing, financial services and logistics. GCC revenue more than doubled to $8.0 million, led by major enterprise wins in the UAE and new client additions in Saudi Arabia, Kuwait and Qatar.
3. Revenue Quality Metrics
Recurring revenue rose to 84% of total, up from 75%, while dollar-pegged revenue reached 33%. Net dollar retention stood at 128%, and the company entered FY2026 with a $38.2 million sales backlog, offering strong visibility into near-term revenue.
4. Cost Management and Operating Leverage
Operating expenses declined 36% to $7.2 million, with general and administrative costs down 39.5% due to reduced staff and professional fees. As a percentage of revenue, expenses fell from 65% to 30%, underscoring Swvl’s operating leverage as it scales.