Bango CFO Matt Wilson joined Steve Darling from Proactive to discuss the company’s full-year results for the 12 months ending December 31, 2024, along with its outlook for 2025. The company reported a pivotal year marked by robust revenue growth, rising profitability, and continued momentum across its Digital Vending Machine® (DVM) and Payments segments.
For FY2024, Bango posted a 16% increase in total revenue and more than doubled its Adjusted EBITDA to $15.3 million. This reflects both the platform’s operational leverage and a disciplined approach to cost management.
The DVM platform continued to scale globally, adding nine new customers during the year. That momentum has carried into 2025 with six additional wins, including Bango’s first customer in South Korea.
In the U.S., the DVM now supports six of the top eight communication providers. A notable achievement was launching Disney+ with Portugal’s largest high-street retailer, Continente, within just 12 weeks from initial contact.
Bango’s payments business also remains a market leader. It continues to be the largest Direct Carrier Billing (DCB) partner for Google Play, the sole DCB provider for Amazon Japan, and the exclusive online DCB provider for NTT DOCOMO—Japan’s largest mobile operator.
The company’s financial position was further strengthened through strategic financing from NatWest and NHN, underscoring confidence in Bango’s business model and growth trajectory. Leadership highlighted that investments in DVM, combined with market tailwinds in “Super bundling,” have created a strong sales pipeline.
With reduced R&D capital expenditures and the scalability of its platform, Bango expects a significant increase in cash generation starting in FY2026—positioning the company to deliver meaningful shareholder returns. Larbey and Wilson expressed strong confidence and excitement about Bango’s path forward.
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