Boku Inc (LON:BOKU), a leading provider of global mobile payment solutions, has announced the following unaudited trading update for the financial year ended 31 December 2023.
Financial Highlights
· Revenues for the year ended 31 December 2023 are expected to be at least $82.7m (2022: $63.8m), up 30% and up 33% on a constant currency basis**** driven by increasing transaction volumes from our major global merchants including good growth from bundling.
· H2 2023 revenues expected to be at least $44.5m representing 33% growth compared to H2 2022 (H2 2022: $33.4m).
· Full year revenues include $16.9m from Local Payment Methods (“LPMs”), up 153% from $6.7m in 2022 following increasing adoption of these products by our key merchants.
· Adjusted EBITDA* expected to be at least $27.3m, up 33% from $20.5m in 2022, and ahead of current market expectations, despite continued investment in Boku’s mobile-first payment network with adjusted EBITDA margin of approximately 33%.