Boku Inc Trading Update (8932F)
18 Julio 2019 - 1:00AM
UK Regulatory
TIDMBOKU
RNS Number : 8932F
Boku Inc
18 July 2019
18 July 2019
Boku, Inc.
("Boku" or the "Company" and, together with its subsidiaries,
the "Group")
Trading Update for the six months ended 30 June 2019
Continuing growth in Total Payment Volume and Monthly Active
Users driving Payments business, strong start to Mobile Identity
with plenty more to come.
Boku (AIM: BOKU), the world's leading independent carrier
commerce company, is pleased to provide the following unaudited
trading update for the six months ended 30 June 2019.
-- Group Revenue and Adjusted EBITDA* on track to meet full year
expectations
-- Group Revenue for H1 2019 is expected to be in the range of
US$22.5 million to US$23 million (2018 US$16.9 million); representing
growth in excess of 33% compared to H1 2018
-- Mobile Identity is anticipated to represent between 14% and
16% of Group Revenues in H1 2019
-- Total Payment Volume ("TPV")** of US$2.3 billion in H1 2019
was 49% up on H1 2018's US$1.5 billion
-- 15.3 million Monthly Active Users ("MAU") of the Boku platform
in June 2019 (June 2018: 10.3 million), a 48% increase
-- Boku Identity monitored 74 million numbers in June 2019 and
140.9 million billable transactions were processed in H1 2019
(12 million monitored in December 2018 and 70.6 million processed
in H1 2018, on a proforma basis)
-- US$27.8 million in Group cash at 30 June 2019 (30 June 2018:
US$32.3 million). The average daily cash balance - a measure
which smooths out the effect of carrier and merchant payments,
was $22.2 million in June (December 2018: $24.4 million)
* Adjusted EBITDA: Adjusted for IPO costs, stock option
expenses, Forex gains/losses and Exceptional items
** TPV is the US$ value of transactions processed by the Boku
platform
Jon Prideaux, Boku's CEO, commented: "I am delighted with our
first half results which show Boku maturing into a multi-product
company, without missing a step in our Payments business.
"With Monthly Active Users continuing to grow strongly, we are
proving once again the value that Boku brings to our global digital
clients. Of course, the law of large numbers dictates that Payments
volumes will not continue to grow at such high percentages
indefinitely, but with our significant scale driving operational
gearing, the incremental revenues we generate from Payments will
continue to drop straight through to EBITDA, affording us the
opportunity to make ongoing investments in future growth.
"Our first such investment, Boku Identity, is off to a flying
start and yet we have barely begun to realise the full potential of
this new venture. Having acquired Danal Inc, now fully integrated
as Boku Identity, at the beginning of the year, the first half of
2019 has been focused on setting ourselves up for sustainable
global expansion in what is a new and emerging market. We expect
this progress on Identity to continue and accelerate in the second
half.
"Identity is not the only innovation we are pursuing. Our
recently announced partnership with Grab in South East Asia
demonstrates that there is plenty of potential to grow our Payments
business through partnerships with mobile wallets and other
alternative payment methods.
"I am hugely excited by the pipeline of opportunities that we
have created in both Payments and Identity and I look forward to
providing further updates as the year progresses.
"We maintain our full year guidance for revenues and adjusted
EBITDA, with the normal seasonal bias and further scale up in
identity revenues expected in H2 2019."
Enquiries:
Boku, Inc.
Jon Prideaux, Chief Executive Officer +44 (0)20 3934
Stuart Neal, Chief Financial Officer 6630
Peel Hunt LLP (Nominated Adviser and
Broker)
Edward Knight / Peter Stewart / Nick +44 (0)20 7418
Prowting 8900
IFC Advisory Limited (Financial PR
& IR)
Tim Metcalfe / Heather Armstrong /
Florence Chandler +44 (0)20 3934 6630
Notes to Editors
Incorporated in 2008, Boku is the world's leading independent
carrier commerce company. Boku's Platform, which is linked to
billing, identity and sales systems of more than 170 mobile network
operators, simplifies transacting on mobile devices.
Boku's Payment products enable mobile phone users, of which
there are more than five billion worldwide, to buy goods and
services and charge them to their mobile phone bill or pre-pay
balance. Its Identity Products are used to verify user details.
Companies like Apple, Google, Facebook, Microsoft, PayPal, Spotify,
Square, Sony and Western Union use Boku to simplify sign-up,
acquire new paying users and prevent fraud.
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END
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