Business
Trading update for the year ended 31 December 2025
Boku Inc. reported a strong trading update for the year ended 31 December 2025, with total Group revenue expected to exceed market expectations at approximately $128.5 million, a 29% increase from the prior year, driven by significant growth in Digital Wallets & Account-to-Account schemes (up 66%) and Bundling (up 71%). Adjusted EBITDA is also projected to be ahead of expectations at around $41 million, a 31% rise, with an adjusted EBITDA margin of 32%. The company's total cash increased by 39% to approximately $246 million, and its own cash grew by 28% to about $103 million, which includes a $12.3 million share repurchase. Total Payment Volume rose by 27% to approximately $15.5 billion, and Monthly Active Users increased by 32% to 115 million. Disclaimer*
About this update from Boku, Inc.
[{"type":"text","content":"\n\n22 January 2026\n \nBoku, Inc.\n \n(\"Boku\" or the \"Company\" and, together with its subsidiaries, the \"Group\")\n \nTrading update for the year ended 31 December 2025\n \nStrong and increasingly diversified growth across Boku's global network\n \nBoku (AIM: BOKU), a global network of local payment methods, is pleased to announce the following unaudited trading update for the year ended 31 December 2025 (\"FY 2025\").\n \nFinancial Highlights\n \n\n\n\n\n·\n\n\nTotal Group revenue for FY 2025 is expected to be ahead of market expectations7 at c.$128.5m, representing growth of c.29% (FY 2024: $99.3m) and c.27% growth on a constant exchange rate (\"CER\")1 basis:\n \n\n\n\n\n\n\n\n- Direct Carrier Billing (\"DCB\") remains a widely used and sought after payment method, delivering growth of c.9%.\n \n\n\n\n\n\n\n\n- Digital Wallets & Account-to-Account (\"A2A\") schemes increased by c.66%.\n \n\n\n\n\n\n\n\n- Bundling continued its H1 2025 trajectory, growing by c.71%, and will now be presented separately reflecting its increased scale and broader application beyond DCB.\n \n\n\n\n\n·\n\n\nDigital Wallets & A2A, together with Bundling, generated c.45% of total revenue, highlighting the strength of our ongoing strategy to diversify our revenue streams\n \n\n\n\n\n·\n\n\nFY 2025 adjusted EBITDA2 is expected to also be ahead of market expectations7 at c.$41m, up c.31% (FY 2024: $31.4m), reflecting an adjusted EBITDA margin3 of c.32% (FY 2024: 31.6%). As previously announced, foreign exchange costs relating to currency conversion services have now been incorporated into adjusted EBITDA reflecting a refined methodology that better aligns revenue and associated costs. Without this change, the FY 2025 adjusted EBITDA would have been at least $43m.\n \n\n\n\n\n·\n\n\nTotal Group cash increased by c.39% to c.$246m at 31 December 2025, up from $177.3m at 31 December 2024.\n \n\n\n\n\n·\n\n\nBoku's own cash4 grew by c.28% to c.$103m at 31 December 2025, up from $80.2m at 31 December 2024. This includes the impact of the repurchase of 5.8m Boku shares during 2025 at a cost of $12.3m.\n\n\n\n\n \nOperational Highlights\n \n\n\n\n\n·\n\n\nBoku has continued to expand its network, delivering more connections between Local Payment Methods ...