Bango has released its FY2022 Trading Update. Highlights include:
- Revenue up 59% to $32.9M (FY21 $20.7M);
- Annual Recurring Revenue (ARR) at Dec 2022 was $5.0M, up 5x from Dec 2021;
- End User Spend of $5.6B (FY21 $4.1B) with a run rate exiting 2022 of $8.6B;
- $11M of planned $21M cost synergies from the acquisition of DOCOMO Digital executed;
- Cash at 31 Dec 2022 of $9.7M (30 Jun 2022: $5.7M);
- Acquisition of DOCOMO Digital, in Aug 2022, adds significant scale, including $3.5B EUS, $16M annual revenue and over 100 new customers;
- 44 new organic merchant customers including McAfee, HBO, Paramount, NFL and Duolingo, as well as the major win in June of the ‘Global Tech Leader’;
- New Platform deals with T-Mobile, Televisa Univision and Liberty Global alongside Verizon +Play launch in Dec 22 drove ARR growth. Strong pipeline of new platform deals to close during 2023..
Paul Larbey, CEO of Bango, said:
“2022 was a transformational year for Bango…With more partners connected to the Platform than ever before, the unique value of the Bango Platform continues to grow. The acquisition of DOCOMO Digital has solidified our leading position with merchants such as Amazon and Google and significantly expanded the pool of end user spend data available to create Bango Audiences. We enter the year with a rich pipeline of opportunities that make me very confident this strong growth will continue in 2023 and beyond.”
The full announcement can be found here.