Highlights

  • Superloop's new SuperCharge29 strategy targets more than $1 billion in Group Revenue and $200 million in underlying EBITDA by FY29.
  • The company is targeting reported EPS growth at a compound annual growth rate above 30% as it moves beyond its completed three-year Double Down strategy.
  • Smart Communities contracted lots nearly doubled to around 190,000 in FY26, providing a substantial pipeline for future service activation and revenue growth.
  • Formal FY27 guidance is expected in November, with continued Investment in organic growth, Smart Communities expansion and selective acquisitions shaping the near-term outlook.

Superloop Limited (ASX:SLC) is entering its next growth phase with the launch of its SuperCharge29 strategy, following the completion of its three-year Double Down strategy in FY26 -- a period in which revenue rose 21.6% to $664.3 million and underlying EBITDA increased 33.1% to $122.7 million. The telecommunications and connectivity provider recorded growth across its Consumer, Business and Wholesale segments, with free Cash Flow up 50% to $84.4 million, giving the company a strong platform from which to pursue its next set of medium-term targets.

The forward outlook is now defined by ambitious FY29 targets rather than incremental FY27 guidance alone, with management pointing to more than $1 billion in Group revenue, $200 million in underlying EBITDA and reported EPS growth above 30% CAGR as the markers of success for the SuperCharge29 era.

SuperCharge29 Sets the Medium-Term Ambition

Superloop's headline forward target is to exceed $1 billion in Group revenue by FY29, alongside $200 million in Group underlying EBITDA and reported EPS growth at a compound annual growth rate above 30%. These targets represent a substantial step up from FY26's $664.3 million in revenue and $122.7 million in underlying EBITDA, implying the company expects growth to continue at a similar or accelerating pace over the coming years.

Management has said it will continue investing in organic growth, Smart Communities expansion and selective acquisitions to reach these targets, with formal FY27 guidance expected to be provided in November -- giving investors a nearer-term checkpoint on progress toward the FY29 ambition.

Segment Growth Trends Support the Forward Trajectory

Superloop's outlook is underpinned by growth across all three operating segments in FY26. Consumer, the largest segment, grew revenue 27.4% to $463.2 million with 116,000 new customers, while Wholesale revenue increased 19.2% to $97.3 million with gross Margin expanding to 69.2% from 62.9%. Business revenue grew a more modest 8.2% to $113.4 million, though its gross margin improved 2.6 percentage points to 43.1%.

Overall customer numbers grew 28% to 935,000, with nbn Market Share rising to 8.5%. Sustaining this rate of customer and margin growth across all three segments will be central to whether Superloop can hit its SuperCharge29 targets.

Smart Communities Provides a Growing Pipeline

Smart Communities is emerging as an increasingly important growth vector in Superloop's outlook, with contracted lots nearly doubling to around 190,000 in FY26, supported by new developer wins and the acquisitions of Frontier Networks and Lynham Networks. Lynham alone contributed approximately 17,000 active services, 30,000 connected lots and 56,000 contracted lots, while active lots across Smart Communities increased by approximately 21,000 to around 65,000.

This expanding contracted-lot base represents a substantial pipeline for future service activation, and continued fibre-to-the-premises investment -- $7.6 million of the year's $37.9 million Capital Expenditure was directed to Smart Communities builds -- suggests the segment will remain a key contributor to the company's medium-term growth outlook.

Financial Position Supports Continued Investment

Superloop's Balance Sheet gives it room to pursue its growth ambitions. The company ended FY26 with $101.7 million of cash and approximately $128 million of net debt, while gross Operating Cash Flow rose 40% to $123.5 million with conversion of 101%. Net profit after tax increased to $17.5 million from $1.2 million, and NPATA rose 34.2% to $37.9 million, reflecting a business generating increasing cash to fund the organic growth, Smart Communities expansion and selective acquisitions envisaged under SuperCharge29.

Conclusion

Superloop's outlook has shifted decisively toward its newly announced SuperCharge29 strategy, which targets more than $1 billion in Group revenue, $200 million in underlying EBITDA and reported EPS growth above 30% CAGR by FY29. Growth across Consumer, Business and Wholesale segments in FY26, together with a near-doubling of Smart Communities' contracted lot pipeline, provides tangible early momentum toward these targets. With formal FY27 guidance due in November and approximately $128 million of net Debt still on the balance sheet, the pace of organic growth, Smart Communities expansion and any further selective acquisitions will determine how quickly Superloop's ambitious FY29 targets come into view.