Trading update for the year ended 31 December 2024

Boku Inc

23 January 2025

 

Boku, Inc.

("Boku" or the "Company" and, together with its subsidiaries, the "Group")

Trading update for the year ended 31 December 2024

Boku (AIM: BOKU), a global network of local payment solutions, is pleased to announce the following unaudited trading update for the financial year ended 31 December 2024.

Financial Highlights

·    Group revenue for 2024 is expected to be in excess of $99 million, representing growth of c.20% compared to $82.7 million in the prior year. This represents c.24% growth on a constant currency* basis.

·    Adjusted EBITDA** is anticipated to be in excess of $31 million, up c.22% on the prior year (2023: $25.8 million), reflecting a margin of approximately 31.7%, in line with our commitment to maintain the adjusted EBITDA margin above 30% while we invest in our products and infrastructure.

·    Total Group cash of approximately $177 million at 31 December 2024, up from $150.9 million at 31 December 2023.

·    Of total group cash, Boku's own cash was approximately $80 million at 31 December 2024 (2023: $70.4 million) and includes the impact of the repurchase of 4.7 million shares in the year at a cost of $10.7 million.

Operational Highlights

·   The financial performance in 2024 has been driven by expanded access for the Group's merchants to a growing global user base, facilitated by an increasing number of relevant local payment method connections.

·     Monthly Active Users ("MAUs")*** increased by 31% to 88.4 million in December 2024, compared to 67.4 million in December 2023.

·     Total Payment Volume ("TPV")**** grew to c.$12.4 billion representing growth of c.18% year-on-year (2023: 10.5 billion), driven by increasing active user numbers. This represents c23% growth on a constant currency basis.

·      Continued strong growth in new users of digital wallets and A2A connections.

·     Delivery on strategic initiatives, such as Boku's previously announced first e-commerce launch in Japan for which the Group has developed a number of new features within its platform.

The Company expects to announce its audited results for the year ended 31 December 2024 on 18 March 2025, at which time it will provide further details on its financial and operational performance. 

Stuart Neal, Chief Executive Officer, commented:

"We are extremely pleased with the progress achieved in 2024. Boku's strong performance underscores the successful execution of our strategic vision to become the best network for local payment methods. With a growing merchant base, an expanding global footprint, and continued investments in scalable infrastructure, we are well-positioned to capitalise on the significant opportunities in the cross-border e-commerce market. As the demand for local payment methods continues to rise, Boku is uniquely equipped to drive sustained revenue growth and deliver long-term value for our shareholders."

*Constant currency calculated by applying the monthly average foreign exchange rates in 2023 to the actual 2024 monthly results.

**Adjusted EBITDA is a non-IFRS measure defined as earnings before interest, tax, depreciation, amortisation, non-recurring income, share based payment expense, foreign exchange gains/(losses) and exceptional items.

*** MAU data includes all users who successfully processed a payment or had an active bundle during the last month of the period.

**** TPV is the $ value of transactions processed by the Boku platform and includes transactions from Direct Carrier Billing (DCB), Bundling, eWallets and A2A payments.

Enquiries:

Boku, Inc.

Stuart Neal, Chief Executive Officer                                                 [phone]

Robert Whittick, Chief Financial Officer

Investec Bank plc (Nominated Adviser and Joint Broker)          [phone]

Nick Prowting / Kamalini Hull / Patrick Robb

Peel Hunt LLP (Joint Broker)                                                          [phone]

Neil Patel / Ben Cryer / Kate Bannatyne

IFC Advisory Limited (Financial PR & IR)                                      [phone]

Tim Metcalfe / Graham Herring / Florence Chandler

Notes to Editors

Boku Inc. (AIM: BOKU) is a leading global provider of mobile payment solutions. Boku's mobile-first payments network, including mobile wallets, direct carrier billing, and account to account/real-time payments schemes, reaching over 7.5 billion mobile payment accounts through a single integration.

Customers who trust Boku to simplify sign-up, acquire new paying users and prevent fraud include global leaders such as Amazon, Meta Platforms, Google, Microsoft, Netflix, 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, Germany, Indonesia, Ireland, Japan, Singapore, Spain, Taiwan and Vietnam.

To learn more about Boku, Inc., please visit: https://www.boku.com

 

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