Boku (AIM: BOKU), the world’s leading independent direct carrier billing company, today announces its unaudited interim results for the period ended 30 June 2018.
- Positive Adjusted EBITDA* for the Period of $2.5 million (compared with $2.8 million loss in H1 2017)
- Revenues increased 66% to $16.9 million (H1 2017: $10.2 million)
- Gross Profit Margin increased to 92.4% from 90.7% (average for 2017)
- Net Loss for H1 2018 of $0.7 million vs Net Loss of $6.6 million for H1 2017
- The Company held $30.7 million in cash at the end of Period (2017: $20 million). The average daily cash balance in June 2018 – a measure which smooths out the effect of carrier and merchant payments – was $23.1 million (December 2017: $19.2 million)
- Total Payment Volume (“TPV”) grew 153% reaching $1.5 billion (H1 2017: $0.6 billion).
- Increase in Monthly Active Users (“MAUs”) to 10.3 million in June, an increase of 117% vs June 2017
- TPV to August 2018 reached $2.2 billion while MAU reached 11.3 million.
- Boku Account connections, for major customers such as Apple, Microsoft and Spotify, now total 127
*Adjusted EBITDA: Earnings before interest, tax, depreciation, amortisation, share-based payment, foreign exchange gains/(losses) and exceptional items (which includes IPO costs).
Jon Prideaux, Chief Executive of Boku Inc, commented: “By any measure the first half of 2018 has been a successful one for Boku. Total Payment Volume is up 153% to $1.5 billion and the number of Monthly Active Users on our platform is up by 117% on a year earlier at 10.3 million. This has driven improved financial results with revenues up 66%. Impressively, this growth has been achieved with the cost of regular operations staying stable and the only cost increases coming from new investment in growth areas, especially Mobile Identity. For the first time we can report positive Adjusted EBITDA of $2.5m. Current trading is also encouraging with TPV reaching $2.2 billion and MAU increasing to 11.3 million to the end of August 2018.”