Swvl Secures a New Up to $1.5 Million Multi-Year Contract in Saudi Arabia, Expanding Its Healthcare Mobility Footprint Across the GCC
Rhea-AI Summary
Swvl (Nasdaq: SWVL) signed a three-year healthcare mobility contract in Saudi Arabia worth up to $1.5 million, expanding its GCC healthcare operations. The deployment will support patient, medical staff, and equipment transport using Swvl’s platform for dynamic routing, real-time dispatch, and operational visibility.
The company cited prior multi-year wins—an up to $2.2 million contract in Kuwait and an up to $5.5 million contract in the UAE—underscoring continued regional enterprise demand and Swvl’s focus on mission-critical verticals.
Positive
- Signed a three-year KSA healthcare contract valued up to $1.5 million
- Regional enterprise backlog includes up to $2.2M (Kuwait) and $5.5M (UAE)
- Expands healthcare vertical using full technology and operations stack
Negative
- Contract values are stated as "up to" amounts, indicating potential revenue variability
News Market Reaction
On the day this news was published, SWVL gained 13.51%, reflecting a significant positive market reaction. Argus tracked a peak move of +22.7% during that session. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $17M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
SWVL was down 3.9% while key rail peers like RVSN and RAIL showed gains of 36.85% and 5.33% respectively, suggesting today’s setup was more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 02 | UAE contract win | Positive | +18.2% | Five-year UAE enterprise contract up to $5.5M in fastest-growing market. |
| Jan 27 | Kuwait expansion | Positive | -16.6% | Launch in Kuwait with $2.2M multi-year contract for enterprise mobility. |
| Nov 26 | Saudi bookings milestone | Positive | +0.8% | Surpassing 100,000 bookings with Bank AlJazira in Saudi Arabia during 2025. |
| Nov 06 | Nasdaq deficiency notice | Negative | -2.0% | Nasdaq notification on minimum $35M market value of publicly held shares. |
| Oct 28 | Q3 2025 earnings | Positive | +13.6% | Q3 2025 profitability with $6.5M revenue and $0.2M net profit reported. |
SWVL has generally traded higher on positive contracts and profitability updates, with one notable selloff on the Kuwait launch despite supportive fundamentals.
Over recent months, Swvl has highlighted a series of GCC-focused growth milestones. On Oct 28, 2025, it reported Q3 2025 revenue of $6.5 million and net profit of $0.2 million, which saw shares rise 13.55%. Subsequent news included a Nasdaq minimum market value deficiency notice on Nov 6, 2025, and a Saudi bookings milestone of over 100,000 on Nov 26, 2025. In 2026, Swvl announced an up to $2.2 million Kuwait contract and an up to $5.5 million UAE contract, framing today’s Saudi healthcare award within an ongoing GCC expansion strategy.
Market Pulse Summary
The stock surged +13.5% in the session following this news. A strong positive reaction aligns with Swvl’s past responses to growth milestones, such as the 18.23% gain on its UAE contract and the 13.55% move on Q3 2025 profitability. This Saudi healthcare contract of up to $1.5 million would fit the pattern of investors rewarding recurring, contract-based GCC expansion. The key risk would be whether enthusiasm outpaced fundamentals, given the share price still trades below the $3.34 200-day moving average.
AI-generated analysis. Not financial advice.
DUBAI, United Arab Emirates, Feb. 09, 2026 (GLOBE NEWSWIRE) -- Swvl Holdings Corp (“Swvl” or the “Company”) (Nasdaq: SWVL), a leading provider of technology-enabled mass mobility solutions, today announced the signing of a new three-year contract valued at up to
The agreement will support patient, medical staff, and equipment transportation across healthcare facilities, leveraging Swvl’s technology platform to enable dynamic route planning, real-time dispatching, and operational optimization. The deployment is designed to support on-demand and time-critical mobility requirements while maintaining high standards of safety, service quality, and operational visibility.
The agreement reinforces Swvl’s strategy of expanding into high-value, mission-critical verticals where transportation complexity and service reliability are essential. Healthcare has emerged as a key focus area for the Company across the GCC, driven by increasing demand for scalable solutions that can efficiently move patients, nurses, doctors, and medical equipment across multi-site and shift-based operations.
The Company believes the deployment will leverage Swvl’s full technology and operations stack to deliver optimized routing, improved fleet utilization, and real-time performance visibility, enabling healthcare providers to better manage dynamic demand while maintaining predictable service levels.
“Saudi Arabia represents one of the most strategic growth markets for Swvl in the region,” said Mostafa Kandil, Chief Executive Officer at Swvl. “Securing an up to
The announcement follows a series of recent multi-year enterprise contract wins by Swvl across the GCC, including an up to
“We believe our expansion into healthcare across the GCC underscores the versatility and scalability of Swvl’s platform,” added Ahmed Misbah, Chief Financial Officer at Swvl. “Our focus remains on securing long-term, high-quality contracts that generate predictable revenue while addressing critical operational needs in essential sectors.”
With this milestone, Swvl continues to advance its regional expansion strategy, deepening its presence in Saudi Arabia and reinforcing its position as a provider of enterprise-grade, technology-enabled mobility solutions across high-growth GCC markets.
About Swvl
Swvl is a technology-driven mobility company providing scalable transportation solutions for enterprises and communities. Through its proprietary platform, Swvl delivers optimized routing, real-time visibility, and operational efficiency across large-scale transportation networks.
Forward-Looking Statements
This press release contains “forward-looking statements” relating to future events. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Swvl’s expansion strategy in Saudi Arabia and the GCC; the benefits of its mobility solutions; its belief that deployments will leverage its technology and operations stack; its ability to address complex, time-sensitive transportation needs; and its expectations regarding long-term demand for technology-enabled mass mobility solutions.
These statements are based on the current expectations of Swvl’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, assurance, prediction, or definitive statement of fact or probability. Actual results may differ materially due to various risks and uncertainties, many of which are beyond Swvl’s control. Many actual events and circumstances are beyond the control of Swvl. These statements are subject to a number of risks and uncertainties regarding Swvl’s business, and actual results may differ materially.
In addition, forward-looking statements provide Swvl’s expectations, plans, or forecasts of future events and views as of the date of this communication. Swvl anticipates that subsequent events and developments could cause Swvl’s assessments and projections to change. However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Swvl’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon any forward-looking statements.
More detailed information about risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the “SEC”), which is available on the SEC’s website, www.sec.gov, and in subsequent SEC filings.
Contact
Investor Relations: Investor.relations@swvl.com
FAQ
What did Swvl (SWVL) announce on February 9, 2026 about Saudi Arabia?
How does the $1.5 million Saudi contract affect Swvl's GCC expansion strategy?
What services will Swvl provide under the Saudi healthcare mobility contract (SWVL)?
Are the contract amounts guaranteed revenue for Swvl (SWVL)?
What prior GCC contracts did Swvl reference alongside the Saudi deal?
How will Swvl's platform aim to improve healthcare transport efficiency under the SWVL contract?
