TIDMBOKU
RNS Number : 8380T
Boku Inc
27 July 2022
27 July 2022
Boku, Inc.
("Boku" or the "Company" and, together with its subsidiaries,
the "Group")
Trading update for the six months ended 30 June 2022
Healthy underlying performance augmented by strong growth in new
payment types
Boku, a leading global mobile payments company, is pleased to
provide the following unaudited trading update for the six months
ended 30 June 2022.
Summary
-- The Group saw further growth in volume processed through its
mobile-first payments network of Direct Carrier Billing ("DCB"),
Bundling, eWallets and Real Time Payments in the first half of
2022, with total volumes up by 14% on a constant currency basis*
compared to H1 2021.
-- Monthly Active Users ("MAUs") ** increased to 46.3m in June 2022, up 22% on a year earlier.
-- TPV generated from the newer Local Payment Methods ("LPMs") -
eWallets and Real Time Payments - increased eleven times compared
to H1 2021, with new users of these LPMs up six times.
-- Revenues for H1 2022 were $30.3m. At constant currency* they
would have been $2.5m higher representing growth of 7%, compared to
the same period in 2021, with year on year growth rates affected by
comparison to the Covid peaks in the first quarter of 2021.
-- Boku's Identity division, as previously announced, was sold
on 28 February 2022 to Twilio for a maximum consideration of
$32.3m, leaving Boku as a pure play Payments business.
The Identity division results will be shown as discontinued in
the 2022 interim and full year results and so we only provide here
the continuing Payments division results. The prior period
comparatives have also been adjusted and exclude the Identity
division results.
Financial Highlights
-- Payments revenues for H1 2022 are expected to be at least
$30.3m (H1 2021: $30.7m). On a constant currency basis*, revenues
would have been $2.5m higher, which represents growth of 7%.
-- Payments adjusted EBITDA*** expected to be approximately
$9.5m (2021 H1: $11.1m). Adjusting for the foreign exchange impact
of c. $2.0m, EBITDA showed growth of 4% against the same period in
2021, reflecting increased investment in the mobile-first
network.
-- Group profit before tax of approximately $29.5m (H1 2021:
$1.9m) which includes the profit on the disposal of Boku's Identity
division of $24.0m, net of disposal costs.
-- Group cash of $67.8 million at 30 June 2022 (30 June 2021:
$38.0m). The Group is now debt free following the disposal of the
Identity division in February 2022 and operating cash generation in
the period.
-- The average daily cash balance, a measure which smooths out
the effect of carrier and merchant payments, was $63.3m in June
2022 (June 2021: $38.0m).
Operational Highlights
-- Underlying Payments metrics continuing to grow:
o 46.3m Monthly Active Users of the Boku platform in June 2022
(June 2021: 37.9 million), a 22% increase.
o 28.8m new users made their first payment or bundling
transaction with Boku during the first half of the year.
o Total Payment Volume ("TPV")**** of $4.4bn in H1 2022. On a
constant currency basis* TPV would have been $0.5bn higher,
representing growth of 14%.
-- Strong growth in the new Local Payment methods ("LPMs"):
o Volumes processed from Local Payment Methods including
eWallets and Real Time Payments increased eleven times compared
with H1 2021.
o MAUs of eWallets and Real Time Payments increased eight times
to over 2.1m in June 2022 compared to the same period in 2021.
o New users of LPMs increased o ver six times to 3.1m in H1 2022
(up from 0.5m in the same period in 2021).
-- Over 40 new launches in H1 2022 with existing and new
merchants including Netflix, Meta, Apple, Amazon, Spotify, Samsung,
Sky and EA Games through Boku's expanded mobile-first network.
-- Boku has continued to expand its regulated payment
capabilities to cover more than 50 markets. A recent highlight is
the granting of a payments licence in the Philippines.
-- Mobile-first payments network expanded to over 7bn end user
accounts, 42% of which are non-DCB.
* Constant currency based on monthly average foreign exchange rates in H1 2021
** Monthly Active Users (MAU) data includes all users who
successfully processed a payment or had an active bundle during the
last month of the period
*** Adjusted EBITDA (Earnings before interest, taxation,
depreciation and amortization): Adjusted for stock option expenses,
foreign exchange gains/losses and eExceptional items
**** TPV is the US$ value of transactions processed by the Boku
platform and includes transactions from DCB, Bundling, eWallets and
Real Time Payments. Prior periods excluded bundling
Jon Prideaux, Boku's CEO, commented : "Boku is now a pure play
payments business. The significant depreciation of most major
currencies against the dollar should not obscure the real progress
that the business has made in the last year. Growth in our key
metrics is strong. Underpinned by our leading position in Direct
Carrier Billing, the number of Monthly Active Users increased by
22%. We saw explosive growth in the non-DCB Local Payment Methods
usage, up elevenfold, driven by deployments with the world's
leading music and video streaming companies, the world's leading
social networks and leading games companies. It's still early days
for these payment methods and I look forward to the future with
confidence."
Enquiries:
Boku, Inc.
Jon Prideaux, Chief Executive Officer +44 (0)20 3934
Keith Butcher, Chief Financial Officer 6630
Peel Hunt LLP (Nominated Adviser and Broker) +44 (0)20 7418
Edward Knight / Paul Gillam/ James Smith 8900
IFC Advisory Limited (Financial PR & IR)
Tim Metcalfe / Graham Herring / Florence +44 (0)20 3934
Chandler 6630
Notes to Editors
Boku Inc. (AIM: BOKU) is a leading global provider of mobile
payment solutions. Its mobile-first payments network provides
multiple mobile payment methods, including mobile wallets, direct
carrier billing, and real-time payments schemes, reaching over 7
billion mobile payment accounts in 91 countries - all through a
single integration.
Customers that trust Boku to simplify sign-up, acquire new
paying users and prevent fraud include global leaders such as
Amazon, Apple, Facebook/Meta, Google, Microsoft, Netflix, PayPal,
Sony, Spotify and Tencent.
Boku Inc. was incorporated in 2008 and is headquartered in
London, UK, with offices in the US, India, Brazil, China, Estonia,
France, Germany, Indonesia, Japan, Singapore, Spain, Taiwan and
Vietnam.
To learn more about Boku Inc., please visit:
https://www.boku.com
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END
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July 27, 2022 02:00 ET (06:00 GMT)
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