Boku Inc - San Francisco-headquartered mobile payments platform - Says it saw continued strong payments revenue growth in the second half of 2020, particularly in the fourth quarter. As a result, higher levels of earnings before interest, taxes, depreciation and amortization are expected from "powerful operational gearing" - which will see 2020 results ahead of the current market consensus expectations for both revenues and Ebitda. Revenue for 2020 is expected to be at least USD56.3 million, which is up from USD46.8 million in 2019. Adjusted Ebitda is expected to be at least USD15.0 million, compared to USD7.4 million in 2019, and USD1.5 million ahead of market consensus expectations.
Chief Executive Jon Prideaux says: "Covid-19 has cast a long shadow over 2020. The pandemic has affected all aspects of business and personal lives. Many companies have been hanging on for their lives, others have perished in the struggle. Boku, positioned as it is, at the intersection of mobile and digital entertainment, is one of the fortunate companies that has been able to prosper."
"Boku's customers primarily supply digital entertainment services: they saw demand increase and we, in turn, saw increased volumes and increased revenues. In December, 28.8 million users transacted through our payments systems. At peak, we processed more than 400 transactions each second. Both are new records. Growth has been driven by existing connections, new launches and the Fortumo acquisition. New launches have been made for Amazon, Apple, Epic Games, Sony, Spotify, Netflix, Tencent, Microsoft, Google and many other smaller merchants," he adds.
Current stock price: 160.50 pence
Year-to-date change: up 11%
By Paul McGowan; paulmcgowan@alliancenews.com
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Boku (BOKU)