Boku, Inc.
("Boku"
or the "Company" and, together with its subsidiaries, the
"Group")
Trading update for the year
ended 31 December 2024
Boku (AIM: BOKU), a global network of local payment solutions, is pleased to
announce the following unaudited trading update for the financial
year ended 31 December 2024.
Financial Highlights
·
Group revenue for 2024 is expected to be in excess
of $99 million, representing growth of c.20% compared to $82.7
million in the prior year. This represents c.24% growth on a
constant currency* basis.
·
Adjusted EBITDA**
is anticipated to be in excess of $31 million, up
c.22% on the prior year (2023: $25.8 million), reflecting a margin
of approximately 31.7%, in line with our commitment to maintain the
adjusted EBITDA margin above 30% while we invest in our products
and infrastructure.
·
Total Group cash of approximately $177 million at
31 December 2024, up from $150.9 million at 31 December
2023.
·
Of total group cash, Boku's own cash was
approximately $80 million at 31 December 2024 (2023: $70.4 million)
and includes the impact of the repurchase of 4.7 million shares in
the year at a cost of $10.7 million.
Operational Highlights
· The financial
performance in 2024 has been driven by expanded access for the
Group's merchants to a growing global user base, facilitated by an
increasing number of relevant local payment method
connections.
·
Monthly Active Users
("MAUs")*** increased by 31% to 88.4 million in December 2024,
compared to 67.4 million in December 2023.
· Total
Payment Volume ("TPV")**** grew to c.$12.4 billion representing
growth of c.18% year-on-year (2023: 10.5 billion), driven by
increasing active user numbers. This represents c23% growth on a
constant currency basis.
· Continued strong growth in new users of digital wallets and
A2A connections.
· Delivery on strategic initiatives, such as Boku's previously
announced first e-commerce launch in Japan for which the Group has
developed a number of new features within its platform.
The Company expects to announce its
audited results for the year ended 31 December 2024 on 18 March
2025, at which time it will provide further details on its
financial and operational performance.
Stuart Neal, Chief Executive Officer,
commented:
"We are extremely pleased with the progress achieved in 2024.
Boku's strong performance underscores the successful execution of
our strategic vision to become the best network for local payment
methods. With a growing merchant base, an expanding global
footprint, and continued investments in scalable infrastructure, we
are well-positioned to capitalise on the significant opportunities
in the cross-border e-commerce market. As the demand for local
payment methods continues to rise, Boku is uniquely equipped to
drive sustained revenue growth and deliver long-term value for our
shareholders."
*Constant currency calculated by
applying the monthly average foreign exchange rates in 2023 to the
actual 2024 monthly results.
**Adjusted EBITDA is a non-IFRS
measure defined as earnings before interest, tax, depreciation,
amortisation, non-recurring income, share based payment expense,
foreign exchange gains/(losses) and exceptional items.
*** MAU data includes all users who
successfully processed a payment or had an active bundle during the
last month of the period.
**** TPV is the $ value of
transactions processed by the Boku platform and includes
transactions from Direct Carrier Billing (DCB), Bundling, eWallets
and A2A payments.
Enquiries:
Boku, Inc.
Stuart Neal, Chief Executive Officer
+44 (0)20 3934
6630
Robert Whittick, Chief Financial
Officer
Investec Bank plc (Nominated Adviser and Joint
Broker)
+44 (0)20 7597 5970
Nick Prowting / Kamalini Hull /
Patrick Robb
Peel Hunt LLP (Joint
Broker)
+44 (0)20 7418 8900
Neil Patel / Ben Cryer / Kate
Bannatyne
IFC
Advisory Limited (Financial PR & IR)
+44 (0)20 3934 6630
Tim Metcalfe / Graham Herring /
Florence Chandler
Notes to Editors
Boku Inc. (AIM: BOKU) is a leading
global provider of mobile payment solutions. Boku's mobile-first
payments network, including mobile wallets, direct carrier billing,
and account to account/real-time payments schemes, reaching over
7.5 billion mobile payment accounts through a single
integration.
Customers who trust Boku to simplify
sign-up, acquire new paying users and prevent fraud include global
leaders such as Amazon, Meta Platforms, Google, Microsoft, Netflix,
Sony, Spotify and Tencent.
Boku Inc. was incorporated in 2008
and is headquartered in London, UK, with offices in the US, India,
Brazil, China, Estonia, Germany, Indonesia, Ireland, Japan,
Singapore, Spain, Taiwan and Vietnam.
To learn more about Boku, Inc.,
please visit: https://www.boku.com
