Bango PLC - Trading Update and Strategy Day
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO BE PRICE SENSITIVE FOR THE PURPOSES OF THE MARKET ABUSE REGULATIONS. WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Trading Update and Strategy Day
Bango (AIM: BGO), the mobile commerce company, provides an update on expected financial performance for FY 2019.
- End User Spend (EUS) for FY2019 is expected to be approximately
- Group Revenue growth of over 40% to at least
- Payment Platform revenue and data monetization revenue both delivered growth in the year and are expected to be at least
- Operating costs in line with expectations. The cost of operating the Payment Platform remains stable, while the volumes processed doubled and Bango increased investment in sales and marketing to enable the launch of the data monetisation business.
- Adjusted EBITDA for the full year is positive and expected to be over
- Management's positive view of continued exponential EUS growth is unchanged, due to growth of existing customers, a heathy pipeline of new routes, and new merchants joining the Bango ecosystem.
- Management is increasingly confident in data monetisation opportunities contributing to EUS and revenue growth in 2020 and beyond. The Audiens CDP is performing well and
- Cash has increased from the end of 1H 2019 and will be at least
- Bango 2020 Strategy day will be held on
During 2019 there were activations of new routes for
Sales of Bango Audiences from
Research and development investment is directed towards growing the data monetisation business, and towards boosting the Bango platform to ensure it can process a potential tenfold increase in transaction volumes as business grows, without incurring significant extra operating cost.
"After another year of sustained growth in 2019 in all areas of the business, Bango enters 2020 on a strong foundation. The growth of merchants and End User Spend on the Bango Payment Platform brings new opportunities for data monetization using
Bango will update investors and analysts on these developments, and the scale of new revenue opportunities, at the annual Bango Strategy and Capital Markets Day in
For further information please contact:
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Bango. Think inside the circle. For more information, visit www.bango.com.
This information is provided by RNS, the news service of the
Quick facts: Bango PLC
Market Cap: £88.01 m
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