LONDON (ShareCast) - (Sharecast News) - Payment solutions specialist Boku reported strong trading in a full-year update on Thursday, with group revenue set to exceed $99m, representing year-on-year growth of about 20%.
The AIM-traded company said adjusted EBITDA was anticipated to exceed $31m, reflecting a margin of 31.7%.

Total group cash at the end of the year reached $177m.

Key operational highlights included a 31% increase in monthly active users to 88.4 million, and a significant increase in total payment volume to $12.4bn.

Boku attributed its strong performance to expanded access for its merchants to a growing global user base, facilitated by an increasing number of relevant local payment method connections.

"We are extremely pleased with the progress achieved in 2024," said chief executive officer Stuart Neal.

"Boku's strong performance underscores the successful execution of our strategic vision to become the best network for local payment methods.

"With a growing merchant base, an expanding global footprint, and continued investments in scalable infrastructure, we are well-positioned to capitalise on the significant opportunities in the cross-border e-commerce market.

"As the demand for local payment methods continues to rise, Boku is uniquely equipped to drive sustained revenue growth and deliver long-term value for our shareholders."

Boku said it expected to announce its audited results for the 12 months ended 31 December on 18 March.

At 1325 GMT, shares in Boku were down 1.84% at 186.5p.

Reporting by Josh White for Sharecast.com.

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