Interim Results for the six months ended 30 June 2024
Bango (AIM: BGO) announced its interim results for the six months ended 30 June 2024. Key financial highlights include:
- Total Revenue: $24.1M (+18.6% YoY)
- Transactional Revenue: $16.4M (+5.3% YoY)
- Annual Recurring Revenue (ARR): $12.9M (+130.4% YoY)
- Adjusted EBITDA: $4.0M (up $4.2M YoY)
Operationally, Bango signed 4 new Digital Vending Machine® (DVM) customers in 1H24 and 3 more post-period. The company expanded its eDisti program to 20 content providers, including Microsoft and Disney. Bango also signed a global agreement with Uber to accelerate Uber One subscriptions through telco channels. The company remains confident in meeting market expectations for the full year and returning to a positive net cash position in FY25.
Bango (AIM: BGO) ha annunciato i risultati intermedi per i sei mesi conclusi il 30 giugno 2024. Evidenze finanziarie principali includono:
- Ricavi totali: 24.1 milioni di dollari (+18.6% rispetto all'anno precedente)
- Ricavi transazionali: 16.4 milioni di dollari (+5.3% rispetto all'anno precedente)
- Ricavi ricorrenti annuali (ARR): 12.9 milioni di dollari (+130.4% rispetto all'anno precedente)
- EBITDA rettificato: 4.0 milioni di dollari (aumento di 4.2 milioni di dollari rispetto all'anno precedente)
Dal punto di vista operativo, Bango ha firmato 4 nuovi clienti per il Digital Vending Machine® (DVM) nel primo semestre del 2024 e altri 3 dopo il periodo. L'azienda ha ampliato il suo programma eDisti a 20 fornitori di contenuti, tra cui Microsoft e Disney. Bango ha anche firmato un accordo globale con Uber per accelerare le sottoscrizioni di Uber One attraverso i canali delle telecomunicazioni. L'azienda rimane fiduciosa di soddisfare le aspettative del mercato per l'intero anno e di tornare a una posizione di cassa netta positiva nell'FY25.
Bango (AIM: BGO) anunció sus resultados intermedios para los seis meses finalizados el 30 de junio de 2024. Puntos financieros clave incluyen:
- Ingresos totales: 24.1 millones de dólares (+18.6% interanual)
- Ingresos transaccionales: 16.4 millones de dólares (+5.3% interanual)
- Ingresos recurrentes anuales (ARR): 12.9 millones de dólares (+130.4% interanual)
- EBITDA ajustado: 4.0 millones de dólares (aumento de 4.2 millones de dólares interanual)
Operativamente, Bango firmó 4 nuevos clientes de Digital Vending Machine® (DVM) en el primer semestre del 2024 y 3 más después del período. La empresa amplió su programa eDisti a 20 proveedores de contenido, incluyendo Microsoft y Disney. Bango también firmó un acuerdo global con Uber para acelerar las suscripciones a Uber One a través de canales de telecomunicaciones. La empresa sigue confiada en cumplir con las expectativas del mercado para todo el año y regresar a una posición de caja neta positiva en el FY25.
Bango (AIM: BGO)는 2024년 6월 30일로 종료된 6개월 동안의 중간 결과를 발표했습니다. 주요 재무 하이라이트는 다음과 같습니다:
- 총 수익: 2410만 달러 (+18.6% 전년 대비)
- 거래 수익: 1640만 달러 (+5.3% 전년 대비)
- 연간 반복 수익 (ARR): 1290만 달러 (+130.4% 전년 대비)
- 조정된 EBITDA: 400만 달러 (전년 대비 420만 달러 증가)
운영 측면에서 Bango는 2024년 상반기에 Digital Vending Machine® (DVM) 고객 4명을 새로 등록했으며, 기간 이후에 3명 추가 등록했습니다. 이 회사는 Microsoft와 Disney를 포함한 20개 콘텐츠 제공업체로 eDisti 프로그램을 확장했습니다. Bango는 또한 통신 채널을 통해 Uber One 구독을 가속화하기 위해 Uber와 글로벌 계약을 체결했습니다. 이 회사는 연간 시장 기대를 충족하고 FY25에서 긍정적인 순 현금 위치로 돌아갈 것이라고 확신하고 있습니다.
Bango (AIM: BGO) a annoncé ses résultats intermédiaires pour les six mois se terminant le 30 juin 2024. Points financiers clés comprennent :
- Chiffre d'affaires total : 24,1 millions de dollars (+18,6 % par rapport à l'année précédente)
- Chiffre d'affaires transactionnel : 16,4 millions de dollars (+5,3 % par rapport à l'année précédente)
- Chiffre d'affaires récurrent annuel (ARR) : 12,9 millions de dollars (+130,4 % par rapport à l'année précédente)
- EBITDA ajusté : 4,0 millions de dollars (augmentation de 4,2 millions de dollars par rapport à l'année précédente)
Sur le plan opérationnel, Bango a signé 4 nouveaux clients pour Digital Vending Machine® (DVM) au premier semestre 2024 et 3 autres après la période. L'entreprise a élargi son programme eDisti à 20 fournisseurs de contenu, dont Microsoft et Disney. Bango a également signé un accord mondial avec Uber pour accélérer les abonnements Uber One via des canaux de télécommunications. L'entreprise reste confiante quant à sa capacité à répondre aux attentes du marché pour l'année entière et à revenir à une position de trésorerie nette positive en FY25.
Bango (AIM: BGO) gab seine Zwischenberichte für die sechs Monate bis zum 30. Juni 2024 bekannt. Wichtige finanzielle Höhepunkte sind:
- Gesamtumsatz: 24,1 Millionen Dollar (+18,6% im Jahresvergleich)
- Transaktionsumsatz: 16,4 Millionen Dollar (+5,3% im Jahresvergleich)
- Jährlich wiederkehrende Einnahmen (ARR): 12,9 Millionen Dollar (+130,4% im Jahresvergleich)
- Bereinigtes EBITDA: 4,0 Millionen Dollar (plus 4,2 Millionen Dollar im Jahresvergleich)
Operativ hat Bango im ersten Halbjahr 2024 4 neue Kunden für den Digital Vending Machine® (DVM) gewonnen und 3 weitere nach dem Zeitraum. Das Unternehmen hat sein eDisti-Programm auf 20 Inhaltsanbieter, darunter Microsoft und Disney, ausgeweitet. Bango hat auch eine globale Vereinbarung mit Uber unterzeichnet, um die Uber One-Abonnements über Telekommunikationskanäle zu beschleunigen. Das Unternehmen ist zuversichtlich, die Markterwartungen für das Gesamtjahr zu erfüllen und bis FY25 in eine positive Netto-Cash-Position zurückzukehren.
- Total Revenue increased by 18.6% YoY to $24.1M
- Annual Recurring Revenue (ARR) grew by 130.4% YoY to $12.9M
- Adjusted EBITDA improved by $4.2M YoY to $4.0M
- Signed 4 new Digital Vending Machine® (DVM) customers in 1H24, with 3 more post-period
- Expanded eDisti program to 20 content providers, including Microsoft and Disney
- Signed global agreement with Uber for Uber One subscriptions through telco channels
- Net Revenue Retention at 159%
- Net debt of $5.1M at 30 June 2024, compared to net cash of $5.5M in 1H23
- Gross profit margin decreased to 80.8% from 90.0% in 1H23
- Loss before taxation of $3.4M, though improved from $4.9M loss in 1H23
CAMBRIDGE, United Kingdom, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Bango (AIM: BGO), today announces its interim results for the six months ended 30 June 2024.
Financial Overview (unaudited):
| Results for the 6 months ended 30 June 2024 | 1H24 | 1H23 | Change | ||
| Total Revenue | + | ||||
| Transactional Revenue1 | + | ||||
| DVM, Audiences & One-Off2 | + | ||||
| Annual recurring revenue (ARR)3 | + | ||||
| Net Revenue Retention4 | |||||
| Adjusted EBITDA5 | ( | + | |||
| Profit/(Loss) before taxation | ( | ( | + | ||
| Net (Debt6)/Cash | ( | - | |||
Notes:
- Transactional revenue grew
9.4% on a constant currency basis. - Other Income of
$1.4M , which is not included in the revenue figure above, related to recovery of tax costs from the acquisition of DOCOMO Digital.$1.1M will be accounted for as a tax cost, resulting in$0.3M profit. - Gross profit margin of
80.8% (1H23:90.0% ) reduced from82.8% in 2H 2023 due to geographic mix. Improvements expected in 2H 2024 as high margin DVM revenue grows. - Net debt6 of
$5.1M at 30 June 2024 (net debt of$3.9M at 31 Dec 2023) after R&D investment of$7.6M in the period.
Operational Highlights
- Bango signed 4 new Digital Vending Machine® (DVM) customers in 1H24, including a Bank in Brazil. Post-period there has been a further 3 new customer wins.
- A leading European telco that adopted the DVM in 2020 extended their contract for a further 3 years, with a minimum contract value of
$1.5M over the term. - 13 new subscription content providers were added to the DVM in 1H24, taking the total to 106.
- The eDisti7 program now has 20 content providers, including Microsoft and Disney, allowing Bango to provide a ‘pre-stocked’ Digital Vending Machine, reducing time to revenue for both DVM customers and Bango.
- Bango signed a global agreement with Uber to accelerate the take-up of Uber One subscriptions through telco channels, proving the appeal of the Bango DVM beyond digital video, music and gaming services.
- The ‘global technology leader’ (announced in June 2022) launched its first two telcos with Bango in 1H24. Additional launches are underway.
- Chartered Accountant Tony Perkins joined the Bango Board as a Non-Executive Director and Chair of the Audit Committee. In Q3, Tony was appointed as Senior Independent Director replacing Eric Peacock who retired from the Board to focus on his recovery from an accident.
Presentation and Webcast
A presentation of the interim results will be made to investors and analysts at 10:00 BST today via the Investor Meet Company Platform. Those wishing to join the call can sign up to Investor Meet Company for free via:
https://www.investormeetcompany.com/bango-plc/register-investor
Full RNS announcement
Read the full Interims Results RNS announcement here: https://polaris.brighterir.com/public/bango_plc/news/rns/story/r7ze9jw
Paul Larbey, Chief Executive Officer of Bango, commented:
“The first six months of 2024 have gone to plan and are in-line with the Trading Update issued in July. The payments business continues to deliver growth, providing cash to fund expansion of the Digital Vending Machine® (DVM), which continues to be adopted as the defacto standard platform for subscription bundling by the world’s largest companies. The addition of Disney+ to the Bango eDisti program is further evidence of this and will help accelerate time-to-revenue from DVM deals. With 4 new DVM wins in the 1H and a further 3 in Q3, the pipeline built over the past years continued to deliver results and provides confidence in meeting market expectations for the full year.
The subscriptions market is vast and growing, and the percentage of subscriptions bundled through channels is increasing. Bango's leadership position in this market is strengthening with the DVM now playing a key role in the customer acquisition and engagement strategies of major content brands. We are excited by the opportunity ahead and remain on track to continue our strong growth trajectory and return to a positive net cash position in FY25.”
1 Transactional Revenue is revenue derived by charging a percentage of the retail price paid by the consumer and is made up of direct carrier billing, resale and revenue share amounts.
2 DVM, Bango Audiences & one-off Revenue includes all DVM license and support fees, revenue from Bango Audiences (discontinued in Q1) and one-off fees including DVM set-up and change requests.
3 Annual Recurring Revenue is the expected annual revenues to be generated in the next 12 months based on contracted revenues recognized as at 30 June 2024.
4 Net Revenue Retention is a measure of the retention and expansion of revenue from customers over the previous 12 months and is calculated by dividing the ARR from existing customers at the end of 1H24 to the ARR from those same customers at the end of 1H23.
5 Adjusted EBITDA is earnings before interest, tax, depreciation, amortization, negative goodwill, exceptional items, share of net loss of associate and share based payment charge
6 Net debt is cash and cash equivalents plus short-term investments less the loan from NHN and borrowings. Barclays continues to provide an overdraft facility which was not used at the end of the period .
7 eDisti is a program that allows Bango to resell subscriptions from content providers removing the need for a commercial agreement between the DVM customer and the content provider.
Contact Details:
investors@bango.com
About Bango
Bango enables content providers to reach more paying customers through global partnerships. Bango revolutionized the monetization of digital content and services, by opening-up online payments to mobile phone users worldwide. Today, the Digital Vending Machine® is driving the rapid growth of the subscriptions economy, powering choice and control for subscribers.
The world's largest content providers, including Amazon, Google and Microsoft trust Bango technology to reach subscribers everywhere.
Bango, where people subscribe. For more information, visit www.bangoinvestor.com
FAQ
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