TIDMBOKU

RNS Number : 9402M

Boku Inc

14 January 2019

14 January 2019

Boku, Inc.

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

Trading Update

Strong growth in Monthly Active Users and Total Payment Volume leading to continued Revenue Growth

Boku (AIM: BOKU), the world's leading independent direct carrier billing company, is pleased to provide the following unaudited trading update for the twelve months ended 31 December 2018.

The Group saw continued growth in all key metrics during 2018:

 
            --   Revenue for 2018 is expected to be in the range of US$34.8 
                  million to US$35.3 million (2017 US$24.4 million); representing 
                  growth in excess of 40% on 2017 
            --   Adjusted EBITDA* for the full year ended 31 December 
                  2018 is projected to be in line with or modestly exceed 
                  market expectations 
            --   Total Processed Value ("TPV")** of US$3.6 billion for 
                  2018 was 109% up on 2017 (US$1.7 billion) 
            --   13.5 million Monthly Active Users ("MAU") of the Boku 
                  platform in December 2018 (December 2017: 8.0 million) 
            --   The Company held approximately US$32.3 million in cash 
                  at 31 December 2018 (31 December 2017: US$20 million). 
                  The average daily cash balance - a measure which smooths 
                  out the effect of carrier and merchant payments, was 
                  US$24.4 million in December 2018 (December 2017: US$19.2 
                  million) 
            --   The company successfully completed the acquisition of 
                  Danal Inc. as planned on 31 December 2018 and has signed 
                  a Memorandum of Understanding with Danal Co. Ltd of Korea, 
                  the former majority shareholder of Danal Inc., for further 
                  co-operation between the two companies

* Adjusted EBITDA: Adjusted for IPO costs, stock option expenses, Forex gains/losses and Exceptional items

** TPV is the US$ value of transactions processed by the Boku platform

Jon Prideaux, Boku's CEO, commented: "We are delighted that 13.5 million people chose to use Boku as their preferred payment option for making purchases of digital content in December 2018, once again proving that Boku is a highly effective method of acquiring new paying users on behalf of our clients.

"Helping our customers to acquire new users, combined with the fact that an increasing number are returning to make repeat transactions, has driven triple digit growth rates in the processed volume (TPV) across our platform to US$3.6 billion in 2018.

"At peak, the Boku Platform handled around 220 transactions per second during the second half of 2018- a new record. Processing this volume, at this level, with broadly flat costs, re-emphasises our position as the scale player within our market and has helped us to project that our Adjusted EBITDA* for the year will meet or modestly exceed market expectations.

"Looking ahead, we are delighted to have closed the acquisition of Danal Inc. in December, allowing us to extend our existing carrier connection skills across a materially larger market. The signature of a Memorandum of Understanding with Danal Co. Ltd of Korea, the former majority shareholder of Danal Inc., is also a positive sign for 2019.

"With all of our KPIs flashing green, we look forward to reporting on our audited results and updating on Mobile Identity."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/ 2014. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of Boku by Stuart Neal, Chief Financial Officer of Boku.

Enquiries:

 
 
   Boku, Inc. 
   Jon Prideaux, Chief Executive Officer           +44 (0)20 3934 
   Stuart Neal, Chief Financial Officer            6630 
 Peel Hunt LLP (Nominated Adviser and Broker)    +44 (0)20 7418 
  Edward Knight / Nick Prowting                   8900 
 IFC Advisory Limited (Financial PR & IR) 
  Tim Metcalfe / Heather Armstrong / Florence    +44 (0)20 3934 
  Chandler                                        6630

Notes to Editors

Incorporated in 2008, Boku is the leading independent direct carrier billing company in the world. Boku's technology enables mobile phone users, of which there are more than five billion worldwide, to buy goods and services and charge them to their mobile phone bill or pre-pay balance.

Boku's platform connects its customers, including Apple, Google, Facebook, Microsoft, Spotify and Sony, with billing, identity and sales systems of mobile network operators. The Group's technology makes a consumer's mobile phone number a convenient and secure payment method, providing an alternative to credit and debit cards. By using Boku, merchants take people with mobile phones and make them paying users.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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January 14, 2019 02:00 ET (07:00 GMT)

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