Bango PLC Trading Update and Notice of Results (8782S)
14 Julio 2020 - 1:00AM
UK Regulatory
TIDMBGO
RNS Number : 8782S
Bango PLC
14 July 2020
14 July 2020
BANGO PLC
("Bango")
Trading Update and Notice of Results
Record revenue growth ahead of expectations, with EUS expected
to be GBP2B in FY20
Bango (AIM: BGO), the mobile commerce company, is pleased to
provide an update on trading for the six months ended 30 June 2020
(1H 2020), ahead of announcing its Interim Results on 15 September
2020.
Highlights for the period include:
Revenue*
Record Revenue growth of more than 50% to GBP4.8M (vs 1H 2019
Payments revenue of GBP3.18M)
Adjusted** EBITDA
Adjusted EBITDA for 1H 2020 is expected to exceed the full year
2019 value of GBP0.45M (which included Audiens).
Cash
The Bango Platform generated cash in 1H 2020. Cash on 30 June
2020 was GBP4.2M. This accounts for NHN deal related and associated
internal costs and the Audiens earnout payment (from January 2020)
totaling approximately GBP1.8M.
End User Spend
End User Spend (EUS) grew strongly to more than GBP740M. This
continues the exponential growth trend in EUS through the Bango
Platform and, as the full benefits of the customer wins and route
activations (for example Softbank and Amazon.co.jp) won during
1H2020 are seen, we expect to see a strong 2H 2020 to meet full
year forecasts.
Bango Marketplace
Bango continues to invest in growing its data insights and
monetization capabilities and now offers payment audiences in 7 out
of the top 10 countries, measured by app store revenue. Over 1,000
app developers are now registered and engaged with Bango
Marketplace, compared to around 200 at the end of 2019. Two new
partnerships have been signed with leading games publishers who
have started using Bango Audiences across their full range of
titles.
Audiens and NHN joint venture
The period saw the completion of a Joint Venture with NHN Corp
of South Korea to drive the Audiens Customer Data Platform (CDP)
business forward. Bango retains a 40% stake in Audiens allowing
Bango to benefit from the anticipated growth from NHN's investment
of finance and technology expertise.
Significant new contracts won
During 1H 2020 Bango signed a three-year platform deal with a
leading global telecoms provider, worth at least GBP1.5M, with
opportunities for further revenue growth. Bango also announced the
launch of a payment option for Softbank customers in Amazon.co.jp.
Bango now powers carrier billing for Amazon.co.jp across Japan's
three largest operators: SoftBank, NTT Docomo and KDDI, reaching
over 100 million consumers.
Paul Larbey, CEO said:
"Bango enters the second half of 2020 in a stronger position
than ever before. The achievements in the first six months, during
a period of unprecedented global uncertainty, are a testament to
the strength of the Bango team and the success of Bango
customers.
The payments and resale business continues to grow rapidly,
increasing profitability and cash generation, thanks to the stable
operating costs of the platform. The opportunities for this
business are greater than ever, having expanded beyond telco
providers to retailers now joining the Bango circle, where data
insights help them thrive.
Bango Marketplace offers a powerful and proven proposition with
strong sales momentum. Bango Audiences help the world's largest
games companies to acquire new paying users, which in turn
generates more payment insights, and the Bango virtuous circle
grows.
With all this exciting progress, Bango is firmly on track to
become the technology behind every payment choice."
Bango will report its Interim Results for the 6-month period
ending 30 June on 15 September 2020.
*Revenue in the period excludes discontinued operations such as
Audiens - now treated as a minority interest following the joint
venture with NHN Corp.
** Adjusted to remove extraordinary items
ENDS
Contact Details:
Bango PLC FTI Consulting finnCap
Tel. +44 333 077 0247 Tel. +44 203 727 1000 Tel. +44 207 200 0500
Ray Anderson, Exec Rob Mindell Marc Milmo
Chair
Paul Larbey, CEO Darius Alexander James Thompson
Carolyn Rand, CFO Leah Dudley Matthew Radley
Anil Malhotra, CMO
About Bango
App developers, stores and payment providers cross the threshold
into the Bango ecosystem to converge, grow and thrive. By bringing
businesses together and powering e-commerce with unique data-driven
insights, Bango delivers new business opportunities and new
dimensions of growth for customers around the world. Being inside
the Bango circle means global merchants including Amazon (NASDAQ:
AMZN), Google (NASDAQ: GOOG) and Microsoft (NASDAQ: MSFT) can work
together with payment partners from Africa to the Americas,
accelerating the performance of everyone on the inside.
Bango. Think inside the circle. For more information, visit
www.bango.com
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END
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