Bango has released a very reassuring update, in which FYDec24 sales are in line: +16% y/y to $53.4m, while FCF is slightly better than expected (at $1.7mA vs. $0.6mE). EBITDA is below (at >$15.2mA vs. $16.8mE) though this still implies a very strong H2 (+37% EBITDA margin) demonstrating Bango’s upwards direction of travel. Given this encouraging outcome, we take this opportunity to introduce FY25 & 26 forecasts: showing robust top-line - driven by BGO’s high growth Digital Vending Machine (DVM) ....
