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Bango PLC - Cambridge-based mobile commerce company - Posts an increase of 9.0% in revenue to $10.8 million during the six months to June 30, from $9.9 million a year earlier. Says end user spend rises by 16% to $2 billion, compared to $1.8 billion, reflecting the ‘continued growth of merchants using the Bango Platform to collect payments,’ it explained. Bango says it has added 24 new merchants for them to boost the performance of their digital advertising campaigns. These include restaurant Hard Rock, Adidas and Marvel games publisher Kabam.
Bango Chief Executive Officer Paul Larbey says: ‘Our strategy of investing for growth is paying off. The increasing competitive advantage of the Bango Platform is securing long term, growing, recurring revenue streams from the world's largest businesses. With the progress made in the first half, the board is confident Bango will comfortably meet the full year analyst consensus revenue and adjusted Ebitda forecasts for [financial 2022].’
In the summary of consensus forecasts published in June, Bango anticipated revenue for 2022 to be $26.4 million and adjusted earnings before interest, tax, depreciation and amortisation to reach $8.2 million.
Current stock price: 180.10 pence, down 5.2%
12-month change: down 16%
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