Bango records 70% revenue growth in 2020

Wed, 13th Jan 2021

Data-driven commerce platform Bango has achieved revenues of £12.2 million over the whole of 2020, delivering year-on-year revenue growth of 70%. The AIM-listed firm has also revealed, ahead of its full year results due 16 March 2021, that end user spend grew to £1.9 billion from £1.1 billion. Adjusted EBITDA is expected to exceed £4 million whereas this was £450,000 in 2019. This has allowed the company to double its cash provision from £2.69 million to £5.83 million. Bango CEO Paul Larbey said: 'Global lockdowns have driven more users online and accelerated the adoption of digital payments by merchants and consumers, which will continue to drive-up end user spend. 'Merchants and resellers are partnering more successfully through Bango to offer valuable, third-party product bundles to more customers. The pressure on advertisers to deliver revenue makes Bango Audiences even more compelling as a new way to target paying customers.' At 2:00pm: (LON:BGO) Bango PLC share price was 0p at 172p Story provided by StockMarketWire.com

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