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(Alliance News) - Boku Inc on Tuesday saw it shares tick upwards as it posted improved revenue and reported expectations of further growth in 2025.
The San Francisco-based mobile payment service provider said profit before tax reduced 46% to USD6.2 million in 2024 from USD11.4 million the prior year.
Operating profit for the firm came in 37% lower at USD6.2 million from USD9.7 million.
Revenue by contrast grew 20% to USD99.3 million from USD82.7 million, in line with Boku's guidance provided in its January trading statement of revenue in excess of USD99 million.
Direct Carrier Billing revenue grew 11% to USD73.3 million from USD66.1 million, driving growth.
Revenue from other Local Payment Methods further supported growth as it improved 56% to USD26.0 million from USD16.6 million.
Adjusted earnings before interest, tax, depreciation and amortisation also matched guidance figures as it improved 22% to USD31.4 million from USD25.8 million. The firm anticipated it in excess of USD31 million.
Boku attributed its weaker operating profit to a mix of factors including: "increases in foreign exchange revaluation losses on non-USD balances [largely JPY] and share based payment expenses driven by increases in both the number of awards granted, to a growing number of staff, and the Boku share price".
Its shares were up 5.1% at 166.00 pence on Tuesday morning in London.
Looking at current trading, Boku said the new year has started "strongly", with it possessing a "healthy and increasing pipeline of opportunities". The firm anticipates revenue growth in excess of 20% for 2025.
Chief Executive Stuart Neal said: "Boku's strong financial health and positive momentum reaffirms our position as a leader in Local Payment Methods [LPMs]. With robust organic revenue and adjusted Ebita growth, we continue to invest in capabilities that will drive future business expansion."
By Christopher Ward, Alliance News reporter
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