Bango has reported a strong first half, with annual recurring revenue up 31% to $20.4m and cash EBITDA of $3.7m already exceeding the $2.3m delivered across the whole of last year.
Bango shares have been under pressure over the past year. This update should help provide some relief.
Total revenue at the AIM-listed payments technology firm is expected to be $25.9m, up 3% and in line with management expectations.
Subscription revenue rose 13% to $12.3m, supported by six new customer wins in the period.
Payments revenue declined 5% to $13.6m, as planned, with the company continuing to restructure legacy routes in favour of margin expansion and revenue quality.
The real story for Bango, however, is the improvement in profitability, with adjusted EBITDA expected to be at least $9m, up 34% year-on-year, helped by efficiency initiatives undertaken in 2025.
Paul Larbey, Bango CEO, said: “Bango delivered a solid first half, with a clear focus on profitable growth. Adjusted EBITDA increased by 34% and Cash EBITDA by $4.3M, reflecting both the benefits of the cost control and efficiency actions taken last year, alongside continued investment in the growth opportunities ahead.”
“Since noting a more cautious macro backdrop earlier in the year, we have continued to see resilient customer demand and sales execution. Momentum in Subscriptions remains strong, with recurring revenue growth of 31% and 6 new customer logos won across an increasingly broad range of use cases for the Bango Digital Vending Machine®.
“The variety of customers adopting the platform – from global brands to financial services and telcos – reinforces our confidence in the long-term opportunity ahead. Payments continues to be highly cash generative, and we continue to restructure selected legacy routes to optimize profitability and revenue quality.”