Bango PLC Trading Update and Capital Markets Day (4939L)
December 27 2018 - 1:01AM
UK Regulatory
TIDMBGO
RNS Number : 4939L
Bango PLC
27 December 2018
27 December 2018
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO
BE PRICE SENSITIVE FOR THE PURPOSES OF THE MARKET ABUSE
REGULATIONS
BANGO PLC
("Bango")
Trading Update and Capital Markets Day
Bango (AIM: BGO), the mobile commerce company, provides an
update on expected financial performance for FY 2018. Highlights
are:
- End User Spend (EUS) will be more than double FY2017,
continuing the four-year trend of more than 100% growth every year.
Total EUS for 2017 was GBP271m compared to an anticipated 2018 EUS
in excess of GBP550m for 2018.
- EBITDA will be positive for 4Q2018, but not for the year as a
whole, and therefore below market expectations. Management has
decided to take revenue on several new contracts for subscription
services as long-term, higher value annuity revenues rather than
one-time, up-front fees this year.
- Management's positive view of continued significant revenue
and EUS growth in 2019 is unchanged, augmented by a strong pipeline
of influential new data monetization customers expected to close in
H1 2019. The Audiens Customer Data Platform (CDP) is performing
well and Bango Marketplace has delivered early initial sales,
following its launch in December.
- Cash at the end of FY18, is expected to be in excess of
GBP3.5m, which is sufficient to fund the Group to
profitability.
During 2018 there were several Google Play activations, and the
pipeline of new opportunities continues to grow. EUS from physical
goods, and a range of streaming video and audio services, is
growing well. The growth of merchants and EUS on the Bango Platform
has been accompanied by increased revenues from Audiens CDP, and
from the first sales from Bango Marketplace, enabling further
monetization of payment data.
Costs are being maintained at current levels. Research and
development investment is directed towards growing the data
monetisation business, with more than half of sales and marketing
expenditure focussed on Bango Marketplace.
Ray Anderson, CEO said:
"Trading as Bango enters 2019 is going well. The payment
business continues to thrive, and the increasing pipeline of EUS
that can move over to the Bango Platform gives confidence that
rapid EUS growth on a stable cost base can continue. The launch of
the Bango Marketplace on 13 December opens up new revenue streams
for 2019 and beyond, building on unique Bango technology and the
technology and relationships acquired earlier this year with
Audiens SRL."
"The team at Bango look forward to updating investors and
analysts on these exciting developments, and the scale of new
revenue opportunities, at the annual Bango Strategy and Capital
Markets Day in London on 30 January 2019."
ENDS
For further information please contact:
Bango plc
Ray Anderson, CEO +44 3330 770 247
Carolyn Rand, CFO
Anil Malhotra, CMO
Cenkos Securities plc
Beth McKiernan / Neil McDonald +44 131 220 6939
FTI Consulting
Matt Dixon / Rob Mindell +44 203 727 1000
About Bango
Cross the threshold into the thriving Bango ecosystem where
merchants and payment providers converge, grow and thrive. Being
inside the Bango circle means global merchants including Amazon
(NASDAQ: AMZN), Google (NASDAQ: GOOG) and Microsoft (NASDAQ: MSFT)
are able to work together with payment partners from Africa to the
Americas, accelerating the performance of everyone on the inside.
By bringing businesses together and powering e-commerce with unique
data-driven insights, Bango delivers new dimensions of growth and
new experiences for people around the world.
Bango. Think inside the circle. For more information, visit
www.bango.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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