11th Jan 2022 14:40
Bango PLC - Cambridge-based mobile commerce company - Says revenue for the year to December 31 amounted to USD20.7 million, up 32% from USD15.7 million the year prior. Explains that this growth was ahead of market expectations. Expects full-year adjusted earnings before interest, taxes, depreciation, and amortization of at least USD6.1 million, a 1.7% increase from USD6.0 million the year before. Net cash as of December 31 grew 22% to USD9.6 million from USD7.9 million a year ago. Explains that this was on the back of "high growth" in its Payments business, leading to new contract wins with companies like Microsoft Corp and Amazon.com Inc. Adds that resale and bundling platform deals, as well as a "steep" rise of demand for its purchase behavior targeting technology also contributed to its accelerated growth.
"A strong balance sheet and a strategy of investing for growth means we are well positioned to realize our goal of becoming the technology behind every payment choice," Chief Executuve Paul Larbey says.
Current stock price: 194.60 pence
12-month change: up 15%
By Abby Amoakuh; [email protected]
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