Looks GOOD!10 Jul 2019 08:56
Bango (AIM: BGO), the mobile commerce company, is pleased to provide an update on trading for the six months ended 30 June 2019, ahead of announcing its Interim Results on 17 September 2019.
- Excellent progress of the Bango Platform with End User Spend (EUS) for 1H2019 in excess of £465m, more than double the £220m EUS for 1H2018. This rapid growth continues the five-year trend of more than 100% growth in EUS year-on-year.
- Given the excellent performance of the Bango Platform in 1H, the Board of Bango continues to expect total EUS for 2019 to be more than double 2018 EUS.
- Positive EBITDA in 2Q2019, with the operational leverage gained through the Bango Platform delivering revenue growth on a stable cost base, and operating on a cash-flow positive basis.
- Strong revenue growth of 64% to £4.3m 1H2019 (growth of 54% to £2.6m in 1H2018)
- Management continues to expect significant revenue and EUS growth in 2020 and beyond. This will be driven by recent wins of new Google Play, Amazon and Microsoft routes, supported by strong growth across existing routes and further agreements with major media players, including a new global merchant agreement, signed in 1H2019.
- Strong interest in the new Bango data monetization business, underpinned by early sales success. The valuable audiences to app developers is growing rapidly, as more mobile operators sign up to monetize data through Bango.
- The Audiens Customer Data Platform (CDP) is performing very well - new customers won in 1H2019 include Experian, Iper, Tamoco, and Nextplora .
- Strengthened senior management team with the appointment of Paul Larbey as Chief Operating Officer, announced in February - Paul joined from a senior role at Nokia. Nancy Cruickshank, SVP Digital Business Transformation at Carlsberg, joined Bango as Non-Executive Director, announced in January.
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