REG - Bango PLC - FY 2021 Trading Update and Notice of Results

BangoAnnouncement

11/01/2022 07:05

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RNS Number : 9827X  Bango PLC  11 January 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 (THE "EUWA")) ("UK MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK
MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Bango PLC

("Bango")

FY 2021 Trading Update and Notice of Results

 

Bango (AIM: BGO), the global platform for data-driven commerce, today
provides an update on trading for the twelve months ended 31 December 2021,
ahead of announcing 2021 Full Year Results on 8 March 2022.

Financial Highlights (USD)*

 ·             Revenue up 32% to $20.7M (FY20 $15.7M), delivering revenue growth ahead of
               expectations
 ·             End User Spend (EUS) $4.1B (FY20 $2.4B)
 ·             Adjusted EBITDA** of at least $6.1M (FY20 $6.0M), in line with expectations
 ·             Net cash at 31 Dec 2021 was $9.6M (31 Dec 2020 $7.9M)

* The change in presentation currency from GBP to USD has been prepared in
accordance with IAS21.

** Operating profit before depreciation, amortization and share based payments

 

Operational Highlights

 ·             High growth in the Payments business across major customers, including new
               routes with Amazon, the launches of M365 and Game Pass Ultimate with
               Microsoft, and global partnerships with NTT Data, KakaoPay and TPAY.
 ·             Significant Platform momentum illustrated by new, multi-year platform deals
               signed, including Verizon, the leading carrier in the US, which has
               standardized on the Bango Platform for third party merchant offers to its 140
               million subscribers.
 ·             Bango Audience customers now include a FTSE 100 company, financial trading
               apps, cryptocurrency exchanges and a metaverse trading platform alongside the
               world's largest games developers.
 ·             Increased investment in Research & Development and Sales & Marketing,
               as planned, to drive future growth in the Platform and Bango Audiences
               businesses.

 

Paul Larbey, CEO of Bango, said:

"In 2021 Bango took several important steps to accelerate our journey from
tens of millions of dollars of revenue to hundreds of millions. We delivered
32% revenue growth, ahead of market expectations, signed key new contracts for
our resale and bundling platform and saw a steep rise in demand for our unique
purchase behavior targeting technology from app developers spanning mobile
gaming to stock trading to NFT purchases.

The launches of new Bango powered services by Microsoft and Amazon illustrate
the increased importance of the Bango platform for the world's largest online
merchants and highlight the trust they place in us. The resale and bundling
platform deals deliver a growing, recurring revenue stream alongside the
existing payments business.

This growth in the Bango Payments business provides valuable new purchase data
which Bango transforms into Bango Audiences, feeding the demand for purchase
behavior targeting from app developers as they seek out ways to reach those
valuable paying users.

Bango technology and our partnerships give us a significant advantage as we
expand in large, fast growth markets. A strong balance sheet and a strategy of
investing for growth means we are well positioned to realize our goal of
becoming the technology behind every payment choice."

For the purposes of UK MAR, the person responsible for arranging the release
of this announcement on behalf of Bango is Paul Larbey, Chief Executive
Officer.  

 

Contact Details:

 

 Bango PLC                  FTI Consulting           Liberum Capital
 Tel. +44 1223 617387       Tel. +44 203 727 1000    Tel. +44 20 3100 2000

 E. investors@bango.com

 Paul Larbey, CEO           Rob Mindell              Cameron Duncan

 Matt Garner, CFO           Charlotte Stephen        James Greenwood

 Anil Malhotra, CMO         Gregory Hynes            Ed Phillips

 Rebecca Jamieson, IR                                Will King

 

 

About Bango

 

The world's largest online merchants, including Amazon (NASDAQ: AMZN), Google
(NASDAQ: GOOG) and Microsoft (NASDAQ: MSFT), use Bango technology to acquire
more paying users.

 

Bango has developed unique purchase behavior technology that enables millions
more users to buy the products and services they want, using innovative
methods of payment including carrier billing, digital wallets and subscription
bundling. Bango harnesses this purchase activity into valuable marketing
segments, called Bango Audiences. Merchants use these audiences to target
their marketing at paying customers based on their purchase behavior. Better
targeting increases spend through the Bango payments business, in turn
generating more data insights, creating a powerful virtuous circle that drives
continuous growth. Everyone connected to the Bango Platform thrives as the
virtuous circle grows.

 

Bango, the technology behind every payment choice. For more information, visit
www.bangoinvestor.com (http://www.bangoinvestor.com)  and follow our twitter
account @bangoinvestor

 

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