Business
Trading Update and Strategy Day
Trading Update and Strategy Day.
About this update from Bango Plc
[{"type":"text","content":"\n \nRNS Number : 3267Y Bango PLC 31 December 2019 \n\n\n \n \nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO BE PRICE SENSITIVE FOR THE PURPOSES OF THE MARKET ABUSE REGULATIONS. WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nBANGO PLC\n \n(\"Bango\")\n \nTrading Update and Strategy Day\n \n \nBango (AIM: BGO), the mobile commerce company, provides an update on expected financial performance for FY 2019. \n- End User Spend (EUS) for FY2019 is expected to be approximately £1.1Bn, continuing the five-year trend of doubling EUS growth every year. \n \n- Group Revenue growth of over 40% to at least £9.3m. Total revenue below market expectation primarily due to a Customer Data Platform (CDP) license and Marketplace supply deal not concluding in December as expected. These deals are now expected to close in early 2020.\n \n- Payment Platform revenue and data monetization revenue both delivered growth in the year and are expected to be at least £7.1m and £2.2m respectively.\n \n- Operating costs in line with expectations. The cost of operating the Payment Platform remains stable, while the volumes processed doubled and Bango increased investment in sales and marketing to enable the launch of the data monetisation business. \n \n- Adjusted EBITDA for the full year is positive and expected to be over £0.4m, confirming the transition to cash generation. \n \n- Management's positive view of continued exponential EUS growth is unchanged, due to growth of existing customers, a heathy pipeline of new routes, and new merchants joining the Bango ecosystem. \n \n- Management is increasingly confident in data monetisation opportunities contributing to EUS and revenue growth in 2020 and beyond. The Audiens CDP is performing well and Bango Marketplace has attracted more customers and delivered repeat sales as it evolved from limited access to full commercial availability during this year. \n \n- Cash has increased from the end of 1H 2019 and will be at least £2.5m at the end of 2019. \n \n- ...