Bango PLC (AIM:BGO, OTCQX:BGOPF) has confirmed a 5% increase in revenue in the first half of 2025, rising to $25.2 million.
In the six months to 30 June, Digital Vending Machine (DVM), a B2B product which allows partnered telcos to resell to their customers webservices and media subscriptions like Netflix and Disney+ from central hubs, and one-off revenues rose by 15% to $8.9 million.
Active subscriptions managed through the DVM doubled to 19.2 million.
“The Digital Vending Machine® (DVM) footprint has significantly expanded, with close to 20 million active subscriptions now managed by the Bango DVM - double that of 12 months ago and driving a 21% growth in recurring revenue,” chief executive Paul Larbey said in a statement.
“New customer momentum is continuing to build.”
Larbey added: “The global adoption of the DVM is accelerating as customers operating in new territories including Korea, Japan and India, join 6 of the top 8 US Telcos in selecting the Bango DVM as their bundling platform.
“This expanded customer footprint offers significant opportunity for future revenue growth.”
Seven new DVM customers were secured in the period, including the first in South Korea and Japan.
The DVM is now used by six of the top eight US Telcos.
Bango also launched its fully integrated Super Bundling platform and announced the first customer to go live with its new DVM user interface.
Meanwhile, Bango’s annual recurring revenue grew by 21% to $15.6 million.
Earnings (adjusted EBITDA) increased by more than 60% to exceed $6.5 million.
Net debt increased to $7.3 million, driven by planned working capital changes and supported by new financing.
“With reducing operational expenses and a growing market presence, Bango is well positioned for strong, scalable and sustainable growth,” Larbey said.
“A solid performance in the first six months of the year underpins the Board's continued confidence in meeting full-year market expectations."