Business
Bango Strategy Day sets out long-term growth plan
Bango Strategy Day sets out long-term growth plan.
About this update from Bango Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5895P\n Bango PLC\n 20 October 2021\n \n \n \n \n \n \n \n \n \n \n BANGO PLC\n \n \n \n \n \n (\"Bango\")\n \n \n \n \n \n Bango Strategy Day sets out long-term growth plan\n \n \n \n \n \n \n \n \n \n 20 October, 2021\n \n - Bango (AIM: BGO), the global platform for data-driven commerce, will today host its annual Strategy Day at 13.15 BST. \n \n \n \n \n \n The event will be at The Loading Bay, Techspace, 25 Luke Street, London, EC2A 4DS.\n \n \n \n \n \n Management presentations will explain the Bango strategy to become the technology behind every payment choice by:\n \n \n \n \n \n 1. Making online commerce frictionless, enabling ubiquitous payment options such as carrier billing, mobile wallets and subscription bundling; and\n \n \n 2. Using payment transaction data to make marketing more effective through purchase behavior targeting.\n \n \n \n \n \n The event will include product demonstrations and commentary from a selection of customers and partners. \n \n \n \n \n \n Bango will set out its plan for long-term growth, based on:\n \n \n \n \n \n \n \n \n \n · \n \n \n \n \n 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.\n \n \n \n \n \n \n · \n \n \n \n \n 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.\n \n \n \n \n \n \n · \n \n \n \n \n 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.\nSix 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.\n \n \n \n \n \n \n \n \n \n \n Paul Larbey, CEO of Bango, commented: \n \n \n \"Bango is on a strong revenue growth trajectory, driven by our unique and highly scalable platform....