Boku Inc (LON:BOKU), a leading provider of global mobile payment solutions, has announced the following unaudited trading update for the six months ended 30 June 2024.
Financial Highlights
· Revenues for the six months ended 30 June 2024 are expected to be at least $47.0m (H1 2023: $38.2m), up 23% and up 30% on a constant currency basis* primarily driven by increasing transaction volumes from existing merchants.
· Carrier related revenues (Direct Carrier Billing (DCB) and Bundling) showed continued resilience with double digit growth on H1 2023.
· Digital Wallets / Account to Account (A2A) revenues were up over 50% from $7.5m in H1 2023 demonstrating increasing adoption (including the notable launch of Google on BLIK in Poland).
· Adjusted EBITDA** is expected to be in line with current market expectations, with adjusted EBITDA margins broadly flat on 2023.
· As previously communicated, the Company is continuing to invest and, throughout 2024 and 2025, this is focused on core back-end infrastructure to enable scalable growth over the next five years by readying the business for an acceleration in regulated A2A volumes and material increases in cross border transactions.
· Total Group cash was $148.5m at 30 June 2024, inclusive of merchant cash in transit, with no debt.
