Boku expects interim revenues to rise more than 33%
By Iain Gilbert
Date: Thursday 18 Jul 2019
(Sharecast News) - Payment services provider Boku expects interim revenues to improve by more than a third year-on-year as "strong" growth in monthly active users bolstered its payments business.
Boku now anticipates first-half revenues to be around $22.5m - $23m - marking an annual growth rate of more than 33%.
The AIM-listed group said its upbeat performance was the result of an increase in the number of transactions processed through its payment platform amid a rise in user growth. Total payment volume rose 49% to $2.3bn, while monthly active users grew 48% to 15.3m.
Boku also expects its mobile identity segment to have made up somewhere between 14% and 16% of group revenues in the half after it monitored 74m numbers and processed 140.9m billable transactions in the six months ended 30 June.
Group cash at the end of the half was $27.8m - down from the $32.3m the firm had on hand a year earlier.
Chief executive Jon Prideaux said: "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."
"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."
As of 1010 BST, Boku shares had fallen 4.57% to 123.10p.
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