Bango CFO, Rachel Elias-Jones discusses the financial and operational highlights from today’s Interim Results announcement, covering the doubling of End User Spend on a stable cost base, launch of carrier billing in Amazon Japan and powerful new data driven technology designed for tier one developers to grow their business.
Download the latest Progressive Equity Research note covering todays’ Interim Results.
“Bango has reported strong interim results, with impressive growth in End User Spend (EUS) and revenue, alongside reduced losses and cash outflow. Operational momentum remains strong, with new billing routes activated across the world. The first half also saw the launch of Direct Carrier Billing (DCB) for physical goods with Amazon Japan.”
All forecasts contained within represent the views of Progressive Research, not of Bango or other analysts covering Bango.
Bango today announces its unaudited interim results for the six months ended 30 June 2017.
Following the disastrous events brought by hurricanes Harvey and Irma, Bango technology is supporting charitable relief by processing a significant volume of charitable donations. Bango works with the tier 1 US Mobile Network Operators to allow users to donate by Direct Carrier Billing.
Due to the charitable character of the arrangement, Bango will not profit from these transactions and will exclude the value of the donations processed when reporting End User Spend.
To donate to American disaster relief visit here
“Bango has announced what is, in our view, a significant Direct Carrier Billing (“DCB”) launch with Amazon in Japan. Bango Platform technology is enabling customers on Japan’s two largest mobile operator networks to purchase physical goods from Amazon Japan, charging the cost to their phone bill. We believe this is the first carrier billing payments service for physical goods from Amazon. The announcement contains no details on the terms of the transaction and for now we make no revisions to forecasts. Nevertheless, with the Japanese e-commerce market estimated at US$100bn annually and Amazon the market leader, we expect the deal to be substantial for Bango.” PERL, 2017
Bango announces that it has enabled a new payment method for Amazon customers in Japan. Amazon customers with a KDDI (au) or NTT DOCOMO mobile phone account can now pay for physical goods from Amazon.co.jp, by charging the cost to their mobile phone bill.
The payment method opened-up to purchase goods on Amazon.co.jp at the start of June, greatly increasing the range of products that can be charged to the phone bill by KDDI and NTT DOCOMO customers, who cover around 75% of all mobile subscribers in Japan (Telecommunications Carriers Association, Japan, 2016).
Read the full announcement – Physical goods payments for Amazon in Japan
2016 was a year of strong growth for Bango. Watch Bango CFO, Rachel Elias-Jones discuss the key operational and financial highlights of FY2016, and the exciting outlook for Bango in 2017 and beyond.