Swoop was extremely loved when they listed for $1 and rallied to $2 but have been sold down to $0.29 today, purely on market sentiment it would seem based on todays results. I like that there has been a very substantial buy back and that there has been decent director buying at these levels also. Very small RL holding for me.

Swoop quarterly hi-lights include 13% organic growth (over 50% annually) and approved $32m funding facility to add to their $40m cash to drive growth via acquisition and organically. Could be priced in but I think the next catalyst will be the announcement of more acquisitions

ANNOUNCEMENT 29 April 2022

Appendix 4C Quarterly Cash Flow Report and Quarterly Activities Report

Swoop Holdings Limited (ASX: SWP) is pleased to release its quarterly activities report and Appendix 4C for the three-month period ended 31 March 2022 (Q3).

The quarterly cash flow report provided by Swoop incorporates the operations of Swoop (and its subsidiaries) including the businesses acquired during the quarter:(iFibre for the 2-month period from February to March 2022).

Highlights of Q3 & Events Subsequent to the Quarter

•  Q3 receipts of $13.8m for the quarter which is up 13% from Q2 receipts of $12.2m1.
•  The majority of the $1.6m increase in cash receipts is driven by organic growth.
•  Positive operating cash flows of $0.93m for the quarter, which is down from the
• previous quarter, largely due to the timing of expenses.
•  Number of Services in Operation (SIO’s) at the end of Q3 increased to 38,105
• representing a 2% organic increase from Q2.
•  The proportion of SIO’s which are On Net at the end of Q3 is 53%, up from 52% at
• the end of Q2.
•  Swoop now has 479 towers and masts across the country.
•  Cash balance at 31 March was $40.51m.
•  Completed (post Q3) an additional acquisition of Sydney based dark fibre builder,
• owner and operator Luminet.
•  The Company has concluded terms with Westpac for $32m of funding facilities to
• facilitate further growth and expansion.