Interim Results for the six months ended 30 June 2025
Bango (AIM: BGOPF) has reported its interim results for H1 2025, showing mixed financial performance. Total revenue increased 5% to $25.2M, while Adjusted EBITDA grew 66% to $6.7M. The company reported a reduced net loss of $3.2M, improving from $4.2M in H1 2024.
Key operational highlights include doubling active subscriptions to 19.2M through their Digital Vending Machine (DVM), securing 7 new DVM customers, and expanding into new markets including South Korea and Japan. The company has completed the DOCOMO Digital routes migration and established strategic partnerships with major telcos, including DISH TV and MTN.
Bango's gross profit margin improved to 84.3% (from 80.8%), though net debt increased to $7.3M (from $5.1M). The company maintains strong customer retention with zero churn in DVM customers and expects significant cash generation in 2026.
Bango (AIM: BGOPF) ha riportato i risultati intermedi H1 2025, mostrando una performance finanziaria mista. Il fatturato totale è aumentato del 5% a 25,2 mln di dollari, mentre l'EBITDA rettificato è cresciuto del 66% a 6,7 mln di dollari. L'azienda ha registrato una perdita netta ridotta di 3,2 mln di dollari, migliorando dai 4,2 mln di dollari nell'H1 2024.
Punti operativi chiave: raddoppiati gli abbonamenti attivi a 19,2 mln attraverso la Digital Vending Machine (DVM), 7 nuovi clienti DVM, espansione in nuovi mercati tra cui Corea del Sud e Giappone. DOCOMO Digital routes migration completata e partenariati strategici con grandi telco, tra cui DISH TV e MTN.
Il margine di profitto lordo è migliorato al 84,3% (da 80,8%), sebbene il debito netto sia aumentato a 7,3 mln di dollari (da 5,1 mln). L'azienda mantiene una forte retention con zero churn nei clienti DVM e prevede una significativa generazione di cassa nel 2026.
Bango (AIM: BGOPF) ha reportado sus resultados interinos para H1 2025, mostrando un rendimiento mixto. Los ingresos totales aumentaron un 5% a 25,2 millones de dólares, mientras el EBITDA ajustado creció un 66% a 6,7 millones de dólares. La empresa registró una pérdida neta reducida de 3,2 millones de dólares, mejorando desde 4,2 millones en H1 2024.
Entre los aspectos operativos clave destacan duplicar las suscripciones activas a 19,2 millones a través de su Digital Vending Machine (DVM), 7 nuevos clientes DVM y expandirse a nuevos mercados, incluyendo Corea del Sur y Japón. Se ha completado la migración de DOCOMO Digital routes y establecido alianzas estratégicas con grandes operadoras, como DISH TV y MTN.
El margen bruto se situó en 84,3% (desde 80,8%), aunque la deuda neta aumentó a 7,3 millones de dólares (frente a 5,1 millones). La empresa mantiene una alta retención de clientes sin churn en los clientes DVM y espera una generación de caja significativa en 2026.
뱅고(Bango, AIM: BGOPF)는 2025년 상반기(H1 2025) 실적을 발표했고, 재무 실적은 엇갈린 모습을 보였다. 총매출은 5% 증가하여 2,520만 달러, 조정 EBITDA는 66% 증가하여 670만 달러로 나타났다. 회사는 순손실을 320만 달러로 축소했고, 2024년 상반기의 420만 달러에서 개선되었다.
주요 운영 하이라이트로는 활발한 구독자 수를 두 배로 늘려 1,920만 명으로 달성, 새로운 DVM 고객 7건 확보, 한국과 일본 등 새로운 시장으로의 확장. DOCOMO Digital 경로 마이그레이션을 완료했고 DISH TV, MTN 등 주요 통신사와 전략적 파트너십을 수립했다.
총 이익률은 84.3%로 개선되었고(이전 80.8%), 그러나 순부채는 730만 달러로 증가했다(이전 510만 달러). 이 회사는 DVM 고객의 이탈률 0으로 강한 고객 유지력을 유지하며 2026년 현금 창출이 크게 기대된다.
Bango (AIM: BGOPF) a publié ses résultats intermédiaires pour le premier semestre 2025, affichant une performance financière mitigée. Le chiffre d'affaires total a augmenté de 5% pour atteindre 25,2 M$, tandis que l'EBITDA ajusté a bondi de 66% à 6,7 M$. La société a enregistré une perte nette réduite à 3,2 M$, en amélioration par rapport à 4,2 M$ au H1 2024.
Les points forts opérationnels incluent un doublement des abonnements actifs à 19,2 M via leur Digital Vending Machine (DVM), 7 nouveaux clients DVM, et une expansion sur de nouveaux marchés dont la Corée du Sud et le Japon. Le migre DOCOMO Digital routes est terminée et des partenariats stratégiques ont été établis avec de grands opérateurs, dont DISH TV et MTN.
La marge brute est passée à 84,3% (contre 80,8%), bien que la dette nette ait augmenté à 7,3 M$ (contre 5,1 M$). L'entreprise maintient une forte rétention client avec zéro churn chez les clients DVM et prévoit une génération de cash significative en 2026.
Bango (AIM: BGOPF) hat seine Zwischenergebnisse für das erste Halbjahr 2025 veröffentlicht und eine gemischte finanzielle Performance gezeigt. Der Nettoumsatz stieg um 5% auf 25,2 Mio. USD, während das bereinigte EBITDA um 66% auf 6,7 Mio. USD wuchs. Das Unternehmen meldete einen reduzierten Nettoverlust von 3,2 Mio. USD, eine Verbesserung gegenüber 4,2 Mio. USD im H1 2024.
Wichtige operative Highlights umfassen eine Verdopplung der aktiven Abonnements auf 19,2 Mio. durch ihre Digital Vending Machine (DVM), 7 neue DVM-Kunden und die Expansion in neue Märkte, darunter Südkorea und Japan. Die DOCOMO Digital Routes-Migration wurde abgeschlossen und es wurden strategische Partnerschaften mit großen Telekommunikationsunternehmen, darunter DISH TV und MTN, etabliert.
Die Bruttogewinnmarge verbesserte sich auf 84,3% (von 80,8%), obwohl die Nettenschulden auf 7,3 Mio. USD stiegen (von 5,1 Mio.). Das Unternehmen weist eine starke Kundenbindung mit null Churn bei DVM-Kunden aus und geht von einer signifikanten Barflussgenerierung im Jahr 2026 aus.
بنجو (AIM: BGOPF) أعلنت عن نتائجها نصف السنوية للسنة المالية 2025 منجزة أداءً ماليًا مختلطًا. إجمالي الإيرادات ارتفع بنسبة 5% إلى 25.2 مليون دولار, في حين نموا EBITDA المعدل بنسبة 66% إلى 6.7 مليون دولار. سجلت الشركة صافي خسارة منخفضة قدرها 3.2 مليون دولار، وهو تحسن من 4.2 مليون دولار في النصف الأول من 2024.
أبرز النقاط التشغيلية تشمل مضاعفة الاشتراكات النشطة إلى 19.2 مليون من خلال ماكينة البيع الرقمية (DVM)، وتوقيع 7 عملاء DVM جدد، والتوسع إلى أسواق جديدة تشمل كوريا الجنوبية واليابان. أكمل التحول إلى مسارات DOCOMO الرقمية وأقام شراكات استراتيجية مع كبار شركات الاتصالات، بما في ذلك DISH TV وMTN.
تحسن هامش الربح الإجمالي إلى 84.3% (من 80.8%)، على الرغم من ازدياد الدين الصافي إلى 7.3 مليون دولار (من 5.1 مليون). تحافظ الشركة على الحفاظ القوي للعملاء مع عدم وجود دوران في عملاء DVM وتتوقع توليد نقدي كبير في 2026.
Bango（AIM: BGOPF）已公布2025年上半年（H1 2025）的 interim 业绩，呈现混合的财务表现。收入总额同比增长5%，达到2520万美元，而 调整后EBITDA同比增长66%，达到670万美元。公司报告净亏损缩窄至320万美元，较2024年上半年的420万美元有所改善。
运营要点包括 活跃订阅数翻倍至1920万，通过数字贩卖机（DVM）实现；新增DVM客户7家；并扩展至韩国、日本等新市场。公司已完成 DOCOMO Digital 路由迁移，并与主要电信运营商建立战略伙伴关系，包括 DISH TV 与 MTN。
毛利率提升至84.3%（前为80.8%），尽管净债务上升至730万美元（前为510万美元）。公司维持对DVM客户的零流失的高客户留存，并预计2026年将实现显著现金流。
- Adjusted EBITDA increased significantly by 66% to $6.7M
- Active subscriptions doubled year-over-year to 19.2M
- Gross profit margin improved to 84.3% from 80.8%
- Annual Recurring Revenue (ARR) grew 20% to $15.6M
- Zero churn maintained for live DVM customers
- Secured 7 new DVM customers including major telcos
- Net loss improved by 24% to $3.2M from $4.2M
- Net debt increased to $7.3M from $5.1M
- Total revenue growth was modest at 5%
- Transactional Revenue remained flat at $16.4M
- Net Revenue Retention declined to 108% from 159%
- Other Income decreased to $0.4M from $1.4M
CAMBRIDGE, United Kingdom, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Bango (AIM: BGO), this week announced its Interim Results for the six months ended 30 June 2025.
Financial Overview (unaudited):
| Results for the 6 months ended 30 June 2025 | 1H25 | 1H24 | Change | |
| Total Revenue | + | |||
| Transactional Revenue1 | | +0% | ||
| DVM & One-Off2 | | +15% | ||
| Annual Recurring Revenue (ARR)3 | + | |||
| Net Revenue Retention4 | ||||
| Adjusted EBITDA5 | + | |||
| Profit (Loss) for the period6 | ( | ( | + | |
| Net Debt7 | + | |||
Notes:
- Total Revenue increased by
5% to$25.2M (1H24$24.1M ), with Total Transactional Revenue1 flat at$16.4M (1H24$16.4M ) as the10% growth in core routes was masked by volatility in a small number of high cost of sales routes acquired with DOCOMO Digital - Gross profit margin increased to
84.3% (1H2480.8% ) driven by high margin DVM growth, procurement initiatives and strong performance in core transactional routes - ARR up
20% . Net Revenue Retention of108% (H1 24:159% ) with churn of live DVM customers remaining at zero - Other Income was
$0.4M (1H24$1.4M ) and is not included in the revenue figure above; this is related to recovery of costs from the acquisition of DOCOMO Digital - Net debt rose to
$7.3M at 30 June 2025 (30 June 2024$5.1M ) driven by planned working capital movements and supported by the previously announced enhanced loan facility with NHN and the$15M NatWest revolving credit facility. These were secured to strengthen the balance sheet and enable acceleration of planned efficiency improvements
Operational Highlights
Existing Customers
- Active subscriptions managed by the Digital Vending Machine® (DVMTM) at the end of 1H25 doubled (vs the end of 1H24) to 19.2M
- A leading social media platform is using the DVM to grow their subscription customers through Telco bundled offers in India
- Sirius XM (US based music streaming service) expanded their use of the DVM (beyond enabling Telcos to bundle their services) to bundle third-party subscription services (e.g. Fox Nation) with Sirius XM subscriptions directly to their customers, a model that content providers are increasingly adopting
New Customers
- 7 DVM customers won in 1H25 (compared with an average of 9 wins in 12 months for the past two years). Highlights include:
- Additional US Telco win, leading to the DVM now being adopted by 6 of the top 8 US Telcos
- First DVM customer in South Korea as Korea Telecom adopt the DVM for bundling, initially focusing on AI based subscriptions
- First Telco DVM customer in Japan
- New Telco DVM customer in Western Europe as European Telcos begin the transition from analysis to implementation
Product & Ecosystem
- 116 content providers are now integrated with the Digital Vending Machine
- Launched the world’s first fully integrated Super Bundling platform, incorporating new capabilities and technology into the DVM including the CX (user interface) and powerful offer management and orchestration features
- Cable operator Altice (US) became the first customer to go live with the DVM CX (user interface)
Post Period Highlights
- Migration of the DOCOMO Digital routes from the Frankfurt data center is complete
- Partnership announced with DISH TV, (one of the top 8 Telcos in the US), and its streaming TV brand, Sling TV to launch and scale new subscription offerings and bundles for their customers
- Partnership with Telkomsel Indonesia to bundle Microsoft PC Game Pass
- Signed an agreement with MTN (the largest operator group in Africa spanning 16 markets) with deployment starting in South Africa. This is the first DVM customer in the region
- Certified ISO22301 for Business Continuity by BSI
Paul Larbey, Chief Executive Officer of Bango, commented:
“Bango has delivered a strong first half in 2025, making significant progress towards becoming the place where people subscribe. Adjusted EBITDA grew by
Adoption of the DVM is also broadening beyond Telcos, with leading content providers and platforms increasingly selecting Bango to power their bundling strategies. The launch of our fully integrated Super Bundling platform, and the first deployment of the new DVM CX by Altice in the US, further strengthens our position as the standard platform for subscription bundling.
In the payments business, the core, high-margin transactional routes delivered solid growth, even as volatility in a small number of acquired DOCOMO Digital routes masked the underlying performance. With the migration from the Frankfurt data center complete, the integration of DOCOMO Digital is now behind us. Following the efficiency savings delivered this year, Bango is well positioned for significant cash generation in 2026.
I am excited by our growing base of blue-chip customers and encouraged by their expanding application of the Bango DVM to power a varied and compelling range of bundled offers. Bango is well positioned to deliver scalable, profitable growth and to capture the expanding global opportunity in subscription bundling.”
1 DVM & One-off Revenue includes all DVM license and support fees, revenue from Bango Audiences (discontinued in Q1 2024) and one-off fees including DVM set-up and change requests.
2 Transactional Revenue is revenue derived by charging a percentage of the retail price paid by the consumer and is made up of direct carrier billing, resale and e-Disti revenue share amounts.
3 Annual Recurring Revenue is the expected annual revenues to be generated in the next 12 months
based on contracted revenues recognized as at 30 June 2025.
4 Net Revenue Retention is a measure of the retention and expansion of revenue from existing customers over the previous 12 months and is calculated by dividing the ARR from existing customers at the end of a period by the ARR generated from those same customers at the beginning of the period.
5 Adjusted EBITDA is earnings before interest, tax, depreciation, amortization, negative goodwill, exceptional items, share of net loss of associate and share based payment charge.
6 Attributable to equity holders of the company.
7 Net debt is borrowings less cash and cash equivalents plus short-term investments.
RNS announcement
Read the full regulatory announcement here - Interim Results for the six months ended 30 June 2025
Presentation and Webcast
A presentation of the half year results will can be viewed here - https://www.investormeetcompany.com/companies/bango-plc
Engage with the Bango management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our interactive Investorhub here: https://bangoinvestor.com/link/rD16pP
Contact Details: investors@bango.com
FAQ
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