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Highlights
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Bango PLC reports a 19% increase in overall revenue, rising to 22% in constant currency.
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The Digital Vending Machine (DVM) business sees a remarkable 63% growth year-on-year, with recurring revenue up by 130%.
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Positive EBITDA of £4 million achieved, marking a turnaround from the previous year’s loss.
Bango PLC {LSE:BGO} recently presented strong first-half results, showcasing notable growth across several sectors. CEO Paul Larbey detailed these accomplishments in an interview with Proactive’s Stephen Gunnion. The company reported an overall revenue increase of 19%, which adjusts to a 22% rise when taking constant currency into account. The carrier billing segment also showed progress, achieving a 5% growth with even stronger results when accounting for currency fluctuations.
A key highlight of the report was the performance of Bango's Digital Vending Machine (DVM) business. This segment achieved a remarkable 63% year-on-year growth, with recurring revenue surging by 130%. Larbey attributed these gains to strategic initiatives implemented following Bango's acquisition of DOCOMO Digital.
Cost management has also played a crucial role, with expenses declining significantly. This operational efficiency has contributed to a positive EBITDA of £4 million, in contrast to a small loss reported during the same period last year.
In addition to these financial achievements, Larbey discussed the signing of new DVM customers, including one from the financial services sector. This development indicates considerable potential for future growth and diversification within Bango's offerings.
Looking ahead, the second half of the year is poised for further opportunity, with major events such as Amazon Prime Day, Black Friday, and Cyber Monday anticipated to drive additional growth. Bango's strategic positioning and recent performance suggest a strong outlook for continued advancement in the digital payments landscape.
