Digital content and services provider Bango PLC (AIM:BGO, OTCQX:BGOPF) saw its revenues grow 19% year on year in the first half of 2024.
Annual recurring revenue surged 140% to US$12.9 million (£10 million), driven by new contract wins across the Americas and Europe.
Contract wins in the first half included Bango’s first digital vending machine (DVM) client in the financial services sector by way of a Latin American bank and a three-year extension with a European telecommunications company.
Bango's DVM product allows content providers to bundle subscriptions and services at speed and scale.
"The first six months of 2024 have gone to plan. We have driven continued growth from our customer base and won new DVM customers.
“This growth, along with a strong sales pipeline, positions us for a successful year that meets market expectations. We remain on track to return to a positive net cash position in FY25,” said chief executive Paul Larbey.
Adjusted earnings for the period are estimated at US$4 million, while net debt at the end of the period totalled US$5 million.