Bango PLC (AIM:BGO, OTCQX:BGOPF) CEO Paul Larbey takes Proactive's Stephen Gunnion through the company's trading statement for the first half of the year, revealing a 19% revenue growth. He detailed the performance of Bango's transactional payments business, which grew by 6% in actual currency and 9% in constant currency, and emphasised the significant 64% year-on-year growth in the Digital Vending Machine (DVM) segment.
Larbey noted the impressive turnaround in profitability, with the company reporting an EBITDA exceeding $4 million, a substantial improvement from a slight loss in the previous year.
Expanding on the DVM growth, Larbey explained that recurring revenue from the DVM increased by 130%, reaching just under $13 million. This growth was driven by new customer acquisitions and enhanced engagement from existing customers, resulting in a net revenue retention of 159%. He highlighted the first win outside the telco sector, entering the banking sector in Latin America.
Discussing the benefits of Bango's ecosystem model, Larbey described how their platform facilitates rapid revenue generation for telcos by bundling various services, including partnerships with major players like Microsoft. He also touched on the broader subscription economy, noting how the DVM helps reduce churn and create compelling consumer offers.
Looking ahead, Larbey mentioned the upcoming full interim results in September, expressing optimism about meeting market expectations for the full year and achieving a net cash position by 2025.
