SWVL HOLDINGS CORP Stock Price, News & Analysis

Swvl Holdings Corp (SWVL) is implementing significant cost-reduction measures as part of its ongoing portfolio optimization program. These measures include focusing on major markets like Egypt and Mexico, evaluating operations in smaller countries for potential sale or discontinuation, and reducing headcount by over 50%. The company is also cutting operating expenses, especially in discretionary spending like marketing. This decision comes amid economic uncertainty and volatility in capital markets that could affect Swvl's cash generation capabilities and commitments.

Swvl Holdings Corp (Nasdaq: SWVL) has received a notification from Nasdaq regarding non-compliance with Rule 5450(a)(1) due to its Class A ordinary shares closing bid price falling below $1.00 for 30 consecutive business days. The company has until May 1, 2023, to regain compliance by achieving a minimum bid of $1.00 for ten consecutive days. If compliance is not met, Swvl could face delisting. The company plans to consider options such as a reverse share split to address the deficiency and maintains that its Nasdaq listing is a priority.

Swvl Holdings Corp (NASDAQ: SWVL) reported significant improvements in profitability across its operations in Egypt, Turkey, Germany, Kenya, and Jordan, achieving Adjusted EBITDA breakeven in August 2022. These five countries accounted for 58% of Swvl's H1 2022 revenues, reflecting a 3.4x year-on-year revenue growth. The company anticipates reaching cash flow positivity in 2023, with expectations of breakeven at a full portfolio level by Q4 2022 and consolidated profitability next year. Both direct-to-consumer and enterprise segments performed positively in these regions.

Swvl Holdings Corp (NASDAQ: SWVL), a global tech-enabled mass transit provider, announced that analysts at Barclays and Alliance Global have initiated coverage with ratings of 'Buy' and 'Equal Weight'. This follows a recent 'Outperform' rating from Baird with a price target of $8. Analysts' reports reflect their views and are not endorsed by Swvl, which disclaims liability for any inaccuracies. As a company, Swvl operates in over 20 countries, providing efficient transportation solutions through its proprietary app.

Swvl Holdings Corp (NASDAQ: SWVL) announced Baird has initiated coverage with an "Outperform" rating and a price target of $8, significantly above current trading levels. Founder and CEO Mostafa Kandil highlighted a record-breaking quarter in Q2, with revenues increasing 3.4x year-on-year, while CFO Youssef Salem mentioned a robust balance sheet following a $29 million capital raise in early Q3 and a roadmap to cash flow positivity in 2023. The company has completed several strategic acquisitions, emphasizing growth and shareholder value.

Swvl Holdings Corp reported a strong performance for the first half of 2022, achieving revenues of $40.7 million, a 3.2x increase compared to H1 2021. Total bookings surged to 40.1 million, up 3.7x year-over-year. The Q2 2022 revenue was $23.3 million, marking a 3.4x uptick from Q2 2021. With a cash balance of $19 million, Swvl also raised $29 million in early Q3 and aims to achieve positive cash flow in 2023.

Swvl Holdings Corp (NASDAQ: SWVL) announced a definitive agreement for a private placement with a U.S. institutional investor, involving the sale of 12,121,214 ordinary shares along with series A and B warrants at $1.65 per share, totaling approximately $20 million in gross proceeds. The series A warrants can purchase an equal number of shares, while series B warrants can acquire 6,060,607 shares. If all warrants are exercised, Swvl could receive an additional $30 million. The deal is expected to close on August 12, 2022, pending standard conditions.

Swvl Inc. (NASDAQ: SWVL) announced a strategic partnership with City Group Co. KSCP to enhance transportation services in Kuwait. The collaboration will leverage Swvl's Software as a Service (SaaS) solutions, focusing on the launch of "Citylink Shuttle." This initiative aims to provide demand-responsive transportation options, initially deploying 100 vehicles over six months. CEO Mostafa Kandil emphasized the commitment to transforming the transportation landscape in Kuwait. The partnership aligns with Swvl's expansion strategy and aims to contribute to profitability, building on recent acquisitions in Europe and Brazil.

Swvl Holdings Corp (NASDAQ: SWVL) announced on July 10, 2022, that key shareholders, including founders and pre-business combination investors, voluntarily extended their lock-up agreements. This extension applies to approximately 84% of the total outstanding shares, covering 100,414,134 Class A Ordinary Shares. Initially, these agreements varied from 6 to 12 months but have now been extended to 12 or 18 months. This move follows Swvl's recent growth in Latin America and the acquisition of Urbvan, which enhances its transport-as-a-service and software-as-a-service operations.