Swvl revenue rises 59% to $16.2 million
- Swvl (NASDAQ:SWVL) reported first-half 2026 revenue of $16.2 million, up 59% year over year.
- Gulf Cooperation Council revenue more than doubled to $7.1 million, while Egypt revenue increased 35% to $9.1 million.
- Swvl signed private-placement agreements in August expected to generate about $14.5 million in gross proceeds.
Swvl (NASDAQ:SWVL) reported first-half 2026 revenue of $16.2 million, up 59% from the prior-year period, with growth across its Gulf Cooperation Council and Egypt operations.
Gulf Cooperation Council revenue increased 107% to $7.1 million, while Egypt revenue rose 35% to $9.1 million.
Recurring revenue represented 88% of total revenue, dollar-pegged revenue reached 44%, and net dollar retention was 123%.
Gross profit increased 35% to $2.9 million, although gross margin declined to 18.2% from 21.5%.
Operating loss widened to $0.57 million from $0.42 million, while operating margin improved to negative 3.5% from negative 4.1%.
Operating expenses declined to 25% of revenue from 29%, while cash fell to $2.1 million at June 30 from $4.4 million at December 31, 2025.
Swvl also signed private-placement agreements on August 25 and 26 for 10,017,714 Class A Ordinary Shares, with expected aggregate gross proceeds of approximately $14.5 million.
