By Joe Hoppe
Bango said its pretax loss widened on Docomo Digital integration costs, though revenue significantly rose and it still expects to meet market forecasts for the year.
The data-driven commerce platform said Monday that its first-half pretax loss widened to $4.9 million, compared with $1.2 million a year prior. Cost-of-sales increased to $2.0 million from $781,000, while administrative expenses rose to $22.6 million, from $10.4 million.
Revenue however rose to $20.3 million, driven by payment and subscription volumes, new digital vending machine contracts and a contribution from Docomo Digital.
The company said it is on track to meet consensus market expectations for the full-year, though it didn’t provide a specific figure. In late July, it provided a full-year earnings before interest, taxes, depreciation and amortization consensus of $12.50 million.
Bango said as full synergies from the Docomo acquisition are realized, it expects to see adjusted Ebitda margins increase, and said it is on track to deliver a substantial adjusted Ebitda increase in 2024.
Shares at 0740 GMT were up 1.0 pence, or 0.6% at 173.5 pence.
Write to Joe Hoppe at [email protected]
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