Swvl Holdings Corp. (SWVL) Income Statement
SWVL 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSWVL revenue and net income
Where SWVL's revenue goes
2025Each bar shows an amount and its share of revenue. SWVL kept 5.4% of revenue as net income.
SWVL profit margins
SWVL growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +40.5% | −17.5% | +6.9% | — |
| Gross profit | +19.8% | +189.4% | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SWVL quarterly EPS vs estimates
Swvl beat the analyst EPS estimate in 4 of the last 6 quarters.
SWVL income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $24.2M | $17.2M | $22.9M | $43.0M | $25.6M | $17.3M | $12.4M |
| Cost of revenue | $19.8M | $13.6M | $18.7M | $42.8M | $48.9M | $26.4M | $33.8M |
| Gross profit | $4.4M | $3.6M | $4.1M | $179,831 | −$5.8M | −$4.2M | −$21.4M |
| Research & development | $518,438 | $750,033 | $1.1M | $9.0M | $3.8M | $1.0M | $708,308 |
| Sales, general & admin | $6.3M | $10.4M | $10.1M | $34.4M | $69.6M | $17.0M | $18.1M |
| Total operating expenses | $7.8M | $12.1M | $9.9M | $87.3M | $82.3M | $20.4M | $19.5M |
| Operating income | −$3.5M | −$8.5M | $12.8M | −$44.3M | −$88.1M | −$24.6M | −$40.9M |
| Interest income | $228 | $1,613 | $46,115 | $57,402 | $128,421 | $546,872 | $303,753 |
| Interest expense | $182,743 | $40,979 | $129,355 | $653,606 | $1.5M | $63,683 | $70,637 |
| Income before taxes | $1.5M | −$11.1M | $13.1M | −$101.7M | −$133.8M | −$24.0M | −$40.6M |
| Income taxes | $155,066 | — | −$41,305 | — | −$4.7M | −$3.2M | −$5.4M |
| Net income | $1.3M | −$10.3M | $3.1M | −$116.5M | −$141.5M | −$29.7M | −$35.3M |
| EBITDA | $2.1M | −$10.6M | $5.0M | −$96.8M | −$131.6M | −$24.4M | −$40.4M |
| EPS (diluted) | $0.12 | −$1.04 | $0.45 | −$1.58 | −$0.59 | −$0.26 | −$7.44 |
| Gross margin | 18.0% | 21.1% | 18.0% | 0.4% | −22.6% | −24.3% | −173.5% |
| Operating margin | −14.4% | −49.3% | 56.0% | −103.0% | −344.7% | −141.9% | −331.3% |
| Net margin | 5.4% | −60.1% | 13.4% | −270.9% | −553.5% | −171.7% | −285.5% |
| Sep '26 | Mar '26 | Jun '25 | Mar '25 | Jun '24 | Mar '24 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.1M | $8.1M | $5.3M | $4.9M | $4.0M | $4.0M | $5.9M | $5.6M | $5.6M | $9.6M | $24.8M | $10.8M |
| Cost of revenue | $6.6M | $6.6M | $4.1M | $3.9M | $3.2M | $3.2M | $4.7M | $4.7M | $4.7M | $12.2M | $21.4M | $12.2M |
| Gross profit | $1.5M | $1.5M | $1.2M | $978,991 | $872,129 | $872,129 | $1.2M | $881,693 | $881,693 | −$2.6M | $3.4M | −$1.4M |
| Research & development | $168,156 | $168,156 | $105,213 | $118,326 | $161,205 | $124,449 | $559,279 | — | $945,967 | $945,967 | $2.5M | — |
| Sales, general & admin | $1.8M | $1.8M | $1.2M | $1.5M | $2.7M | $2.7M | $4.0M | $1.4M | $1.4M | $20.8M | $19.9M | $30.7M |
| Total operating expenses | $1.8M | $1.8M | $1.3M | $1.7M | $2.9M | $2.9M | $895,330 | $941,438 | $941,438 | −$63.5M | $25.6M | $70.3M |
| Operating income | −$285,057 | −$285,057 | −$128,347 | −$722,077 | −$2.0M | −$2.0M | $7.7M | −$1.6M | −$1.6M | −$25.0M | $935,673 | −$33.0M |
| Interest income | — | — | $106,697 | $216 | $48,142 | $30,481 | — | — | — | $8,040 | $25,018 | — |
| Interest expense | — | — | $78,158 | $16,680 | $37,449 | $13,417 | $3.5M | — | $385,726 | $385,726 | $481,214 | — |
| Income before taxes | −$260,091 | −$260,091 | −$340,623 | $772,823 | −$2.8M | −$2.8M | $242,280 | $1.8M | $1.8M | −$36.6M | $46.7M | −$73.3M |
| Income taxes | — | — | — | — | — | $20,653 | −$20,653 | — | −$1.2M | −$1.2M | −$49,092 | −$336,428 |
| Net income | −$260,091 | −$260,091 | −$340,623 | $772,823 | −$2.8M | −$2.8M | $262,933 | $1.8M | $1.8M | −$35.4M | $47.3M | −$72.0M |
| EBITDA | −$239,721 | −$239,721 | −$225,519 | $826,449 | −$1.9M | −$1.9M | −$2.1M | −$430,229 | −$430,229 | −$36.0M | $2.3M | −$32.5M |
| EPS (diluted) | — | — | $0.04 | — | — | — | — | $0.35 | $0.00 | −$0.53 | −$0.12 | −$0.73 |
| Gross margin | 18.2% | 18.2% | 22.9% | 19.9% | 21.6% | 21.6% | 20.0% | 15.9% | 15.9% | −27.6% | 13.7% | −12.6% |
| Operating margin | −3.5% | −3.5% | −2.4% | −14.7% | −50.5% | −50.5% | 130.4% | −29.0% | −29.0% | −260.5% | 3.8% | −304.4% |
| Net margin | −3.2% | −3.2% | −6.5% | 15.7% | −70.6% | −70.6% | 4.5% | 32.3% | 32.3% | −368.8% | 190.6% | −664.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SWVL's financial statements (latest annual report filed April 20, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SWVL financial results
In fiscal year 2025 (ended December 31, 2025), Swvl reported revenue of $24.2 million, up 40.5% from the year before. It had net income of $1.3 million, a net profit margin of 5.4%. Diluted earnings per share came to $0.12. Over five years revenue grew at an average rate of 6.9% a year.
See the SWVL stock overview for the latest quote and news, or the SWVL chart for price history and technical indicators.
SWVL income statement FAQ
What is Swvl's annual revenue?
Swvl reported total revenue of $24.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 40.5% from $17.2 million the previous year.
Is Swvl profitable?
Yes. Swvl reported net income of $1.3 million in fiscal 2025, a net profit margin of 5.4%; its operating margin was −14.4%.
What is Swvl's gross margin?
Swvl's gross margin was 18.0% in fiscal 2025: for every $100 of revenue, Swvl kept $18 after the direct cost of its products and services.
How much does Swvl spend on research and development?
Swvl spent $0.5 million on research and development in fiscal 2025, 2.1% of revenue.
How fast is Swvl growing?
Revenue grew 6.9% a year on average over the last five fiscal years, from $17.3 million to $24.2 million.
What are Swvl's earnings per share?
Swvl earned $0.12 per diluted share in fiscal 2025, compared with $-1.04 a year earlier.
When does Swvl's fiscal year end?
Swvl's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 20, 2026.