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Priced for a highly profitable outcome

A provider of a state-of-the-art mobile payment platform is delivering eye-catching revenue growth and is poised to smash full-year earnings estimates
 Priced for a highly profitable outcome
  • First half revenue soars 49 per cent to £7.1m
  • App developers using Bango Marketplace doubled to 4,000 in past six months
  • Largest subscription agreement signed to date with a tier 1 US telecoms group

Aim-traded Bango (BGO:215p), a provider of a state-of-the-art mobile payment platform enabling smartphone users to charge purchases made in app stores straight to their mobile phone account, has more than doubled its first-half cash profit to £2m, buoyed by 74 per cent higher end-user spend of £1.3bn.

In the period, Bango signed a raft of new partnerships including ones with NTT Data Hong Kong and T-Pay Mobile (combined over 1bn users) to enable merchants connected to Bango’s platform to access new operators and wallet billing connections across Asia, the Middle East and Africa. Bango is also scaling up its subscription revenue, expanding arrangements with Amazon Prime and Microsoft Xbox Game Pass and announcing its largest deal to date with a tier 1 US telecoms carrier. That contract could be worth more than £0.5m in annual revenue. Platform partnerships enable hundreds of millions of online customers to benefit from offers for products including Netflix, BritBox, Spotify, Pandora Radio and YouTube TV, all through the Bango platform.

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