Bango PLC (AIM:BGO) said underlying profits for 2021 were in line with expectations, while revenue grew by a forecast-beating 32%.
In a trading update, the AIM-listed mobile payments and data specialist said the period saw "high growth" in the payments business following new deals with Amazon.com, Inc. and Microsoft Corp and global partnerships with NTT Data, KakaoPay and TPAY.
Revenue increased to US$20.7mln in the year to 31 December 2021 from US$15.7mln in the previous year. End-user spend grew to US$4.1bn from US$2.4bn and adjusted EBITDA rose to US$6.1mln from US$6mln.
"In 2021 Bango took several important steps to accelerate our journey from tens of millions of dollars of revenue to hundreds of millions,” commented chief executive Paul Larbey.
“We delivered 32% revenue growth, ahead of market expectations, signed key new contracts for our resale and bundling platform and saw a steep rise in demand for our unique purchase behaviour targeting technology from app developers spanning mobile gaming to stock trading to NFT purchases.
“Bango technology and our partnerships give us a significant advantage as we expand in large, fast growth markets. A strong balance sheet and a strategy of investing for growth means we are well positioned to realize our goal of becoming the technology behind every payment choice."
The company had net cash of US$9.6mln at end-2021, up from US$7.9mln a year earlier.
Shares rose 3.36% to 200p in opening trade.