Bango reports strong revenue growth and operational highlights, expecting positive net cash position in FY25.

From GlobeNewswire: 2024-09-30 05:15:00

Bango reports an 18.6% increase in total revenue for the six months ending 30 June 2024, with transactional revenue climbing by 5.3%. Annual recurring revenue saw a substantial rise of 130.4%. Adjusted EBITDA soared to $4.0M, while net debt stood at $5.1M on 30 June 2024.

Operational highlights include signing new customers for the Digital Vending Machine® (DVM) and expanding subscription content providers. Bango’s partnership with Uber and tech leaders underscores the DVM’s appeal beyond traditional services. Board changes were made, with Tony Perkins joining as Non-Executive Director and Audit Committee Chair.

Paul Larbey, CEO of Bango, expressed confidence in meeting market expectations for the year as the company’s growth trajectory remains strong. The DVM continues to be adopted widely, with Disney+ joining the Bango eDisti program to accelerate revenue. Bango is poised to return to a positive net cash position in FY25.

Transactional revenue reflects charges based on retail prices paid by consumers, while DVM, Audiences & One-Off Revenue includes license fees. Annual Recurring Revenue estimates future revenues based on contracted revenues. Adjusted EBITDA excludes certain items, and net debt calculation considers cash and investments.

Bango, a pioneer in digital content monetization, facilitates global partnerships to expand customer reach. The Digital Vending Machine® is instrumental in driving the subscriptions economy, offering flexibility for subscribers. Trusted by major content providers, Bango technology enables seamless subscriber engagement worldwide.



Read more at GlobeNewswire:: Interim Results for the six months ended 30 June 2024