Business
Results for the year ended 31 December 2022
Results for the year ended 31 December 2022.
About this update from Boku, Inc.
[{"type":"text","content":"\n \n \n 21 March 2023\n \n \n \n Boku Inc.\n \n \n \n (\"Boku\", the \"Company\" or the \"Group\")\n \n \n \n Results for the year ended 31 December 2022\n \n \n \n Boku (AIM: BOKU), a leading provider of mobile payment solutions, is pleased\n to announce its audited results for the year ended 31 December 2022.\n \n \n \n Financial Highlights\n \n \n \n \n \n \n \n ·\n \n \n \n \n Revenues up 3% to $63.8 million (2021: $62.1 million) despite significant currency headwinds.\n \n \n \n \n \n \n o \n \n \n \n \n On a constant currency basis*, revenues were 14% higher than 2021.\n \n \n \n \n \n \n o \n \n \n \n \n H2 2022 revenues were 21% higher than H2 2021 on a constant currency basis\n \n \n \n \n \n \n ·\n \n \n \n \n Adjusted EBITDA** of $20.5 million (2021: $22.9 million) at 32% Adjusted EBITDA margin despite currency headwinds and continued investment in Boku's mobile-first payment network.\n \n \n \n \n \n \n ·\n \n \n \n \n Net Profit after tax of $28.9 million (2021: $6.3 million). The increase was largely due to the profit from discontinued operations after tax of $24.6m\n \n \n \n \n \n \n ·\n \n \n \n \n Net profit from continuing operations before interest and tax for 2022 was $4.5 million (2021: $10.6 million) as we incurred a fair value adjustment charge of $3.47 million in relation to Amazon warrants granted in September 2022 and impaired the carrying value of the Fortumo brand by $1.26 million\n \n \n \n \n \n \n ·\n \n \n \n \n Group cash was $116.5 million at year-end, up from $67.8 million at 30 June 2022.\n \n \n \n \n \n \n o \n \n \n \n \n The Group is debt free.\n \n \n \n \n \n \n ·\n \n \n \n \n The average daily cash balance, a measure that smooths out the effect of carrier and merchant payments, was $98.8 million in December 2022, up from $63.3 million in June 2022.\n \n \n \n \n \n \n ·\n \n \n \n \n Cash generated from operations before working capital movements during the year was $22.0 million (2021: $19.5 million).\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Following the disposal of Boku's Identity division on 28 February 2022, the results shown are for the continuing Payments division. The prior year comparatives in the Consolidated Statement of Comprehensive Income have been restated accordingly and exclude the Identity division results.\n \n \n \n \n ...