Bango has released its 1H23 Interim Results. Highlights include:
- Revenue up 88% to $20.3M, in line with management expectations
- Strong Digital Vending MachineTM (DVM) traction in the US. New deal in 1H means Bango has secured 3 out of 5 key US telcos, opening up subscription bundling to >200M US customers
- The DOCOMO Digital integration cost synergies are 90% complete
- Bango is on track to meet consensus market expectations for the full year
Paul Larbey, Chief Executive Officer of Bango, commented: “I am excited about the opportunities for our Super Bundling strategy. Our leadership in the telecommunications market was extended by the acquisition of DOCOMO Digital one year ago. Profitability and cash generation will grow, as we deliver on the synergies from the acquisition. Our focus on the Digital Vending Machine is already delivering revenue growth. The recurring revenue generated from the DVM deals already won will drive exponential growth in the years to come.”
Presentation and Webcast
A presentation of the interim results will be made to investors and analysts at 8.30am this morning via the Investor Meet Company Platform. Those wishing to join the call can sign up to Investor Meet Company for free and add to meet BANGO PLC via: https://www.investormeetcompany.com/bango-plc/register-investor
The full RNS can be found here.
