Boku narrows losses on improved revenues
Boku, Inc (DI) Reg S Cat 3/144A
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17:15 18/04/24
Payments platform Boku has narrowed full-year losses as revenues and earnings were both set to have increased significantly in 2019 thanks to payments growth and progress in its identity fraud prevention solution.
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Boku said on Tuesday that it now expects full-year revenues to be in the range of $50m to $50.5m, up around 42%, while group earnings before interest, taxes, depreciation and amortisation were expected to come in at $10m to $10.5m - up 59% from 2018.
Total processed value was said to be $5bn, up from the $3.6bn reported the year prior, with monthly active users of the Boku platform increasing to 17.8m.
The AIM-listed group's identity division saw billable transactions increase 45% to 253m and revenue grow 26% to $6.7m.
All in all, losses were narrowed to $5m from $6.4m as Boku continued to expand its services outside of the US and the UK to over 60 countries worldwide.
Chief executive Jon Prideaux said: "We are confident that we will see a material revenue impact from e-wallets over the medium term.
"Demand from global companies for a secure and simple worldwide way of verifying users on mobile is plentiful, with six potentially transformative deals in the pipeline. Realising this potential needs global supply from non-US carriers on which we are expecting to make further progress in 2020."
As of 1340 GMT, Boku shares had slumped 17.71% to 79p.