Bango Strategy Day sets out long-term growth plan

RNS Number : 5895P

Bango PLC

20 October 2021

 

BANGO PLC

("Bango")

Bango Strategy Day sets out long-term growth plan

20 October, 2021 - Bango (AIM: BGO), the global platform for data-driven commerce, will today host its annual Strategy Day at 13.15 BST.

The event will be at The Loading Bay, Techspace, 25 Luke Street, London, EC2A 4DS.

Management presentations will explain the Bango strategy to become the technology behind every payment choice by:

1.  Making online commerce frictionless, enabling ubiquitous payment options such as carrier billing, mobile wallets and subscription bundling; and

2.  Using payment transaction data to make marketing more effective through purchase behavior targeting.

The event will include product demonstrations and commentary from a selection of customers and partners.

Bango will set out its plan for long-term growth, based on:

·	A strong transactional business in an expanding addressable market that increased revenue at 52% CAGR over the last 5 years. Future growth is anticipated to continue to generate >95% gross margin.
·	Accelerating momentum of the synergistic SaaS-based Platform licensing business. Early wins include BT and Verizon, driving an estimated $7M of additional high margin annual recurring revenue (ARR) in 2023.
·	Success in its purchase behavior targeting business that has achieved 20x growth in app developer engagement over the last 18 months and 10x growth in usage in 1H21. Six app developers have already each increased their spending on Bango Audiences to an annualized rate in excess of $100k/year, and many more are expected to follow the same path. With gross margins expected to be >70% and thousands of app developers as potential customers, this business is set for substantial growth.

Paul Larbey, CEO of Bango, commented: "Bango is on a strong revenue growth trajectory, driven by our unique and highly scalable platform. Continued high margins mean that this organic growth will be funded by our own cash generation. I look forward to discussing our plans with existing and potential shareholders".

The presentation materials will be available at bangoinvestor.com after the event.

ENDS

Contact Details:   

Bango PLC	FTI Consulting	Liberum Capital
Tel. [phone]  E. [e-mail]	Tel. [phone]	Tel. [phone]
Paul Larbey, CEO Matt Garner, CFO Anil Malhotra, CMO  Rebecca Jamieson, IR	Rob Mindell Charlotte Stephen Gregory Hynes	Cameron Duncan James Greenwood  Ed Phillips Will King

About Bango

App developers, stores and payment providers cross the threshold into the Bango ecosystem to converge, grow and thrive.

By bringing businesses together and powering e-commerce with unique data-driven insights, Bango delivers new business opportunities and new dimensions of growth for customers around the world. Being inside the Bango circle means global merchants including Amazon (NASDAQ: AMZN), Google (NASDAQ: GOOG) and Microsoft (NASDAQ: MSFT) can work together with payment partners from Africa to the Americas, accelerating the performance of everyone on the inside.

Bango. Think inside the circle. For more information, visit www.bango.com.

 

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