Book Company (LSE:
Boku) Appointing Richard Pennycook CBE, a senior retail manager, as the new chairman, while reporting strong first-half results, with revenue climbing 34% to over $63 million Digital wallet Serve.

Boku reports revenue growth for transaction updates in the first half of the year

London-listed payment solutions company says revenue from digital wallet and account payment plans rose 90% Compared with the same period last yearhighlighting the ongoing shift from traditional card payments to local payment methods.

Boku’s Direct Carrier Billing Division allows customers to charge purchases on their mobile phone bills, up 16% in six months. The company processed over $7 billion in total payments, up 27% from $5.8 billion in the first half of 2024.

“We are increasing our ties to the LPM network by increasing our relationships with existing global businessmen and driving growth by deepening our relationships with existing global businessmen,” said Dr. CEO Stuart Neal said in a statement.

Profit indicators show motivation

Profitability has improved significantly, with adjusted EBITDA expected to reach at least $21 million, a 50% increase from $14.2 million the previous year. The company’s EBITDA margin expanded to about 33% from 30.1% in the same period last year.

However, the results are not completely clean. About $3 million in revenue comes from specific launch phase pricing, which has been normalized and will not recur in the second half. Deprived of this one-time increase, with basic income increasing by about 27%.

Boku’s cash position was strengthened during this period, with total collective cash rising 29% to about $192 million. The company’s own cash holdings rose 16% to $87 million, even after spending $12.3 million to buy back 5.8 million shares.

Monthly active users on the Boku platform climbed to 20% to 95 million out of 79.6 million in June. As businesses seek alternatives to traditional credit card processing, growth reflects merchant adoption of local payment methods.

Year-round outlook

Boku expects full-year revenue growth to match or exceed 27% in the second half of the year, indicating full-year revenue will exceed the current analyst consensus estimate of $119.7 million. Adjusted EBITDA is expected to be consistent with the $38.3 million consensus figure.

The company maintains guidance of more than 20% in mid-term organic revenue growth each year and adjusts its EBITDA margin to more than 30%.

Leadership Change

Additionally, Boku announced that the Richard Pennycook CBE will take effect on August 1, replacing Dr. Richard Hargreaves, who retired nine years later.

PennyCook brings extensive public company experience, currently serves as Chairman of the Beach Group and formerly leads Howdens Jotery Group. He spent 30 years in his executive role, including serving as CEO of the Cooperative Group from 2013 to 2017.

“I’m excited to be joining Boku’s board at this exciting time as it accelerates its growth and expansion,” Pennycook said.

Hargreaves joined Boku while still private and helped the company get its 2017 AIM listing. “It is an honor to work with the entire team and contribute to the success of my business in nine years of participation,” he said.

Boku connects merchants and customers to a global network of local payment solutions through mobile operator bills, digital wallets and bank-to-bank transfer systems. Company processing Payment In more than 50 countries, it cooperates with more than 200 mobile operators around the world.

This article was written by Damian Chmiel on www.financemagnates.com. (Tagstotranslate)Boku



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