Swvl reports 26% revenue growth and profitability in H1 2025

DUBAI - Swvl Holdings Corp (NASDAQ:SWVL), a tech-enabled mass transit solutions provider with a market capitalization of $34.35 million, reported 26% year-over-year revenue growth to $10.19 million in the first half of 2025, according to a company press release Monday. According to InvestingPro analysis, the company’s current valuation appears to be near its Fair Value.

The Dubai-based company achieved a net profit of $0.43 million, compared to a $5.7 million loss in the same period last year. When measured in constant currency, revenue growth reached 49%. This marks a significant turnaround, particularly notable as InvestingPro data shows the company was not profitable over the last twelve months, with an EBITDA of -$8.62 million.

Swvl’s recurring revenue increased to 85% of total revenue, up from 74% in the first half of 2024, while dollar-pegged revenue nearly doubled to 34% from 18% in the comparable period. The company reported a net dollar retention rate of 118%.

By region, the Kingdom of Saudi Arabia showed the strongest performance with 80% revenue growth and 112% increase in gross margins. Egypt delivered 29% revenue growth with an 18% improvement in gross margin in constant currency. The United Arab Emirates generated $0.86 million in revenue. The company maintains a current ratio of 0.65, indicating potential challenges in meeting short-term obligations. Get access to more detailed financial metrics and 8 additional key insights with InvestingPro.

Gross margin grew 26% year-over-year to $2.19 million, maintaining a steady margin percentage of 22%. Cash outflows decreased to $0.25 million from $0.51 million in the first half of 2024.

"We are prioritizing recurring, contract-based revenues and scaled dollar-pegged markets aimed at building quality earnings," said Mostafa Kandil, Chief Executive Officer of Swvl, in the statement. The company’s overall financial health score is rated as WEAK by InvestingPro analysts, with particularly low scores in profit and cash flow metrics.

The company’s financial results reflect its focus on enterprise contracts and disciplined cost management across its operations in emerging and developed markets.

In other recent news, Swvl Holdings Corp announced that its Egypt operations have returned to their peak revenue levels from 2022 in Egyptian-pound terms as of August 2025. The company expects to achieve U.S. dollar parity soon. This development comes after Swvl underwent a period of restructuring, which appears to have positively impacted its financial performance. The announcement was made through a company press release, highlighting the significant progress within the Egyptian market. These recent developments mark an important milestone for Swvl as it continues to navigate the mass transit technology landscape.

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