PERL note: “On track for breakeven and positive cash flow”

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.

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Announcement: Interim Results

Bango today announces its unaudited interim results for the six months ended 30 June 2017.

Read full announcement here

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Support for Charitable donations to American Red Cross (Harvey & Irma)

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


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PERL analysis: “Bango – Making waves in Japan”

Download the latest analysis from Progressive Research (PERL), Bango: Making waves in Japan, covering the launch of Bango enabling physical goods payments for Amazon in Japan.

“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

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Announcement: Physical goods payments for Amazon in Japan

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, by charging the cost to their mobile phone bill.

The payment method opened-up to purchase goods on 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

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Bango Final Results FY2016 video

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.

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2016 Annual Report and Notice of AGM

Click here to download the Bango Annual Report 2016, click here for the Notice of Annual General Meeting (AGM), here for the associated form of proxy and here for the explanatory notes.

Click here to order a printed copy of the Bango 2016 Annual Report.

The Bango AGM will be held at 2pm on Wednesday 24 May 2017 at the offices of Bango, 5 Westbrook Centre, Cambridge, CB4 1YG.

Whenever a Director is proposed for re-election, the Bango board carefully considers a) the continuing value that Director brings to the board, b) their participation during the previous period serving on the board, c) for NEDs, the risk that a non-executive board member could lose their independence from the executive team having been a Director for a previous period – the so-called “Going native” problem.

Martin Rigby has been a Director of Bango PLC for 11 years. This is just over 9 years, the point after which a NED is thought, by some, to potentially exhibit impaired independence. A review of Martin’s contributions over the last year by two recently appointed Director’s indicated no signs of lack of independence. The basis for retaining Martin as a Director for a further two years is that he has extensive knowledge of the digital content market from an independent, “outsider” perspective, deep expertise in corporate governance, and a knowledge of the competitive landscape gained outside Bango that is very difficult to find elsewhere. The board therefore considers that a) Martin remains independent and b) in addition to this test of independence, his role as an independent Director would be valid because of the industry and governance values he brings to the board and stakeholders.

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