(Alliance News) - Boku Inc on Tuesday said it expects 2023 revenue and profit to be ahead of expectations, and the provider of mobile payment solutions also announced the retirement of its chief executive officer.
Boku said it expects revenue for the first half ended on June 30 to be at least USD37.5 million, up 24% from USD30.3 million the year before.
Adjusted earnings before interest, tax, depreciation and amortisation are anticipated to be 25% higher at about USD12.0 million, compared to USD9.5 million the year before.
Boku reported 61.2 million monthly active users of the platform in June, up 32% from 46.4 million a year earlier.
Chief Executive Officer Jon Prideaux said: "The strong end to 2022 has continued into the first half of 2023 and we now expect both revenues and Ebitda to exceed the board's prior expectations for the full year. With the majority of our key merchants now using our services for the newer eWallets and Account to Account based payments, our growth strategy is manifestly working. The story is one of steady growth in DCB being complemented by triple digit growth rates on Local Payment methods."
Prideaux will retire from the role on December 31, Boku said. He will remain as a non-executive director, however. Prideaux has been with the firm since 2014.
The company said Stuart Neal has re-joined Boku and has been appointed chief executive designate. He is expected to be appointed CEO on January 1 next year.
Neal was chief financial officer between 2012 and 2014 and between 2017 and 2019. Previously, he was chief commercial officer at Vocalink PaybyBankapp. He was also commercial director at Barclaycard, then Europe's second-largest payment acceptance company.
Shares were up 1.1% at 136.00 pence each on Tuesday morning in London.
By Xindi Wei, Alliance News reporter
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Boku (BOKU)