Bango PLC (AIM:BGO, OTCQX:BGOPF)shares rose 5% after the digital payments and subscription specialist posted a solid first-half update, with revenue up 5% to $25.2 million.
The group’s Digital Vending Machine (DVM), which lets telecom operators offer bundled web and media subscriptions like Netflix and Disney+, saw recurring revenue jump 21% to $15.6 million, fuelled by strong growth in active subscriptions, which doubled to 19.2 million over the year.
Bango added seven new DVM customers, including its first in South Korea and Japan, expanding the platform’s reach to six of the top eight US telcos.
Earnings (adjusted EBITDA) climbed over 60% to more than $6.5 million, despite a rise in net debt to $7.3 million due to planned investments and working capital needs.
Chief executive Paul Larbey said growing customer adoption and a focus on operational efficiency position Bango for continued scalable and sustainable growth, supporting the board’s confidence in meeting full-year expectations.
The shares rose 4.5p to 88p.