Australians have given fixed-wireless internet the tick of approval as two major providers today reported strong growth in revenue and earnings in the year to June.
Australians have given fixed-wireless internet the tick of approval as two major providers today reported strong growth in revenue and earnings in the year to June.
Balcatta-based fixed-wireless ISP Pentanet reported revenue of $10.8 million and underlying earnings of $2.4 million.
The company, led by managing director Stephen Cornish, boasts more than 12,000 subscribers.
It has made significant headway in the development of Australia's e-sports capabilities, with the launch of NVIDIA's GeForce NOW platform in the local market scheduled for October.
Mr Cornish said the results showed the benefit of increasing scale as the business builds its subscriber base.
"Our efforts in increasing brand recognition and delivering excellent network performance and customer service have been delivering outstanding results, with industry leading growth rates and customer churn rates at below half of the industry average," he said.
Elsewhere, Swoop Holdings has posted its first full-year results since reverse listing on the ASX in May, with the NSW-based ISP finishing the year to June with revenue of $30.9 million with underlying earnings of $4.9 million.
Swoop is backed by several WA-based investors, including Tony Grist and Tattarang, and is the product of a merger between Swoop and NodeOne Internet.
It undertook a series of major acquisitions in the past few months, including of telcos based in South Australia, Victoria and WA, with its network now boasting about 390 fixed-wireless towers and 30,000 subscribers.
The group has since flagged the potential for further acquisitions and investments in its network.
Revenue is expected to grow to $40 million this financial year with earnings expected to reach $10 million.
“We had a fantastic year which was capped off by our successful listing on the ASX,” Alex West, Swoop’s chief executive, said.
“I am thrilled with the growth we have achieved and the opportunities that exist for further acquisitions.
“Along with the board, the executive team and I are pumped to be creating the next national Australian telco with the business on track for an equally successful FY22.”
Pentanet shares were trading at $0.68 at 10am AEST; Swoop shares, meanwhile, were trading at $1.44 apiece.
