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Boku Inc.

Boku Inc Transformational year, Revenue up 45% to $35.3m

Boku Inc (LON: BOKU), the world’s leading independent direct carrier billing company, today announced its final audited results for the year ended 31 December 2018.

Jon Prideaux, Chief Executive of Boku Inc, commented: “2018 has been a transformational year for Boku; two major milestones include reporting our maiden positive Adjusted EBITDA for the whole year and the acquisition of mobile identity business, Danal Inc. We’ve delivered growth on all of our KPIs illustrated at both the top and bottom lines.

“We believe that 2019 will be another year of exceptional growth as we continue to build upon our strong Payments business, growing Identity business, and our state of the art platform to deliver further products and services to our customers.”

Financial Highlights

· Revenue up 45% to $35.3m (2017: $24.4m)

· Adjusted EBITDA $6.3m vs. 2017 Adjusted EBITDA** loss ($2.3m)

· Reported Net loss of $4.3m down 85% (2017: $28.1m)

· $32.3m Gross cash at year end (31 December 2017: $20.2m)

· Monthly average cash balances of $24.4m (2017: $19.2m)

Operational Highlights

· Total Payment Volume (TPV) doubled to over $3.6bn (2017: $1.7 billion)

· 13.5 million Monthly Active Users (MAU) in December 2018 (December 2017: 8.0 million)

· 70 new Boku Account connections for major customers such as Apple, Microsoft and Spotify (2017: 45)

· Acquisition of mobile identity business, Danal Inc.on 1 January 2019

**Adjusted EBITDA: Earnings before interest, tax, depreciation and amortisation, adjusted for stock option expenses, forex gains/losses and exceptional items

Capital Markets Day

Boku will hold a Capital Markets Day for institutional investors and analysts on Wednesday 22 May 2019. The event will be held in London, with the venue and timing to be confirmed. Further details will be provided in due course.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.