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Highlights
- Boku's FY23 revenue rose 29.7%, driven by a 153% increase in digital wallet earnings.
- Adjusted EBITDA for 2023 grew 27.5% to USD 25.8 million, including USD 2.0 million in bonuses.
- H1 FY24 revenues expected to reach USD 47.0 million, up 23% over H1FY23.
Boku Inc (LSE:BOKU) runs a global mobile payments network via its mobile-focused platform. It is listed on the FTSE AIM 100 Index. It has a market cap of GBP 528.99mn.
In FY23, the company's revenue increased by 29.7% compared to FY22. Boku's earnings from digital wallets and A2A connections reached USD 16.9 million, marking a remarkable 153% rise from USD 6.7 million in the previous year. This growth is attributed to the expanding adoption of these payment methods among the company's key merchants.
Adjusted EBITDA also saw a notable boost, rising by 27.5% to USD 25.8 million in 2023. This figure includes USD 2.0 million in outperformance bonuses for staff and executives, acknowledging their exceptional results that exceeded both budget and market expectations.
Recent Business Update
According to the company's trading update released on July 18, 2024, revenues for H1 FY24 are anticipated to reach a minimum of USD 47.0 million, reflecting a 23% increase from H1 FY23 and a 30% rise on a constant currency basis. This growth is attributed to higher transaction volumes, with carrier-related revenues seeing double-digit growth. Additionally, revenues from digital wallets and A2A connections surged by over 50%, notably boosted by Google's recent launch on BLIK in Poland.
Company Outlook
The company plans to continue investing in its core capabilities to foster long-term, sustainable growth within the expansive cross-border payments market. It will uphold the values and culture that contributed to its success at DCB, using these strengths to seamlessly integrate digital wallets and A2A connections into its network.
Top 10 Shareholders
The top 10 shareholders of BOKU account for approximately 57.77% of the total shareholdings. Octopus Investments Limited holds the largest stake at around 13.01%, followed by Vitruvian Partners LLP with approximately 8.85%, as illustrated in the chart below.
Stock Information
Over the past month, BOKU's stock price has risen by approximately 0.55%, while it has risen by about 15.87% over the last six months. The stock's 52-week low and high are GBX 132.00 and GBX 195.00, respectively, and it is currently trading above the average of these values.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 19 August 2024. The reference data in this report has been partly sourced from EODHD/Others.
