Bango (AIM: BGO), the global platform for data-driven commerce, today announces its unaudited interim results for the six months ended 30 June 2020.
1H2020 Financial highlights
* NHN acquired 60% of Audiens in April 2020. The associate is accounted for using the equity method for consolidation purposes.
** Adjusted EBITDA is operating profit before depreciation, amortization, share based payments and exceptional items from continuing operations
*** Operating costs before depreciation, amortization, share based payments and exceptional items from continuing operations.
**** Includes income from the platform and the gain from the creation of the JV (see note 7) with NHN
1H20 Operational highlights
Innovation powering growth
Paul Larbey, Chief Executive Officer at Bango, commented:
"Bango has delivered continued growth during a period of worldwide social and economic turbulence. Record revenue growth of 50%, adjusted EBITDA over double the entire FY19 amount, and an EBITDA margin of 23% during this period demonstrates the relevance and resilience of the Bango Platform.
Most revenue growth results from contracts and routes won in previous years, so it is encouraging for future growth that the payments business launched new merchants and new routes during a period when online spending surged. With retailers now joining the Bango circle and new wins such as the major telco platform deal announced in May, Bango is ideally positioned to continue delivering exponential growth.
The first half of the year has firmly established Bango Marketplace as an invaluable tool for App Developer marketing teams. Gaming giants such as Nexon and Nimble Neuron have joined the Bango ecosystem to increase the revenue generated through their marketing activities. The recent Bango Marketplace partnerships will allow Bango to grow the business even faster.
While our successes are global, the opportunity in Asia and the progress Bango is making in that region is particularly exciting and positions us well to meet our goal of being the technology behind every payment choice".