Boku Inc (AIM:BOKU) shares traded positively on Tuesday, up around 6%, after the London-listed mobile payments firm told investors it expects to report a 30% increase in revenue when it releases its financial results for the year ended 31 December 2023.
The company, which partners major tech firms including Meta, Google, Microsoft and Netflix, said in a statement that revenue for the year is seen to be at least US$82.7 million, boosted by a 33% year-on-year improvement for its second half, up to US$44.5 million.
Specifically, it highlighted that second-half revenue from Local Payment Methods (LPMs) processing drove a 153% improvement on the prior year to US$16.9 million, helped by greater levels of adoption amongst "key merchants".
It also pointed to a 29% increase in monthly active users (MAUs) which reached 67.4 million by December.
Total payment volume was up 19%, with some US$10.5 billion processed in the year.
Boku anticipates earnings (adjusted EBITDA) of at least US$27.3 million, which will similarly mark a 33% improvement on the previous year.
Chief executive Stuart Neal, meanwhile, described “incredible momentum” in confident comments coming just weeks into the job – having taken the reins on 1 January 2024.
“Our full year results are positive affirmation that the company's strategy, to build a global network of local payment methods (LPM's) for some of the world's largest merchants, is the right one.
“It is especially exciting to see how LPM's are increasingly becoming a meaningful part of our revenues, adding to our core DCB revenues, a trend I expect to continue.”
He added: “The board now expects our 2023 full year results to be slightly ahead of previous market guidance, with renewed confidence around our medium term aspirations.
“We finished 2023 strongly which gives us a good trajectory into this year and I am confident the success of our strategy will continue in 2024 and beyond."
In London, Boku shares gained 9.5p or 6% in Tuesday morning trade, to change hands at 167p, valuing the company at just under £500 million.