Revenue grew by 41% to $24.2M; GCC revenue more than doubled (+122%)
Operating loss narrowed by 94% to $0.5M from $8.5M, approaching operating profitability
Recurring revenue increased to 84%; dollar-pegged revenue reached 33% of total revenue
Net Dollar Retention reached 128% across all markets in USD and sales backlog of $38.2M
Total equity returned to positive $2.9M
DUBAI, United Arab Emirates, April 20, 2026 (GLOBE NEWSWIRE) -- Swvl Holdings Corp ("Swvl" or the "Company", and together with the Company's subsidiaries, the "Group") (NASDAQ:SWVL), a leading provider of technology-enabled mass mobility solutions for enterprises and governments, today announced its financial results for the fiscal year ended December 31, 2025 ("FY 2025").
Swvl delivered a financial turnaround in FY 2025, with revenue growing by 41% to $24.2 million compared to fiscal year ended December 31, 2024 ("FY 2024"), profitability returning with net income of $1.3 million and positive shareholders' equity. These financial results were driven by accelerating demand for enterprise mobility across Egypt and the Gulf Cooperation Council ("GCC"), disciplined cost management that reduced general and administrative expenses by 39.5% in FY 2025 in comparison to FY 2024, and a strategic shift toward higher-quality, recurring, and dollar-pegged revenue.
The scale of the improvement is reflected across certain major financial metrics. Net income increased by ~$11.6 million year-over-year, operating cash outflows narrowed by 42% to $2.1 million, working capital turned positive at $1.0 million, and total equity improved by $3.6 million. Swvl is also entering fiscal year 2026 ("FY 2026") with a sales backlog of $38.2 million and net dollar retention of 128%.
FY 2025 Financial Highlights
Revenue: $24.2M, up 41% year-over-year from $17.2M
Net income: $1.3M vs net loss of $10.3M in FY 2024 (change of $11.6M)
Gross profit: $4.4M, up 21% from $3.6M
Operating loss narrowed 94% to $0.5M from $8.5M
GCC revenue: $8.0M, up 122% year-over-year from $3.6M
Egypt revenue: $16.2M, up 20% year-over-year from $13.5M
B2B revenue: $20.3M, up 56% year-over-year; 84% of total revenue
Recurring revenue: 84% of total (vs 75% of total in FY 2024)
Dollar-pegged revenue: 33% of total (vs 23% of total in FY 2024)
Net Dollar Retention: 128%
Sales backlog: $38.2M entering FY 2026
Operating expenses: $7.2M, down 36% from $11.2M
Total equity: positive $2.9M vs negative $0.7M in FY 2024
Cash and cash equivalents: $4.41M
Summary
(USD, in millions)
FY 2025
FY 2024
Change
Revenue
$24.2
$17.2
+41%
Gross Profit
$4.4
$3.6
+21%
Operating (loss)/income
-$0.49
-$8.4
-94%
Net income/(loss)
$1.3
-$10.3
