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CAMBRIDGE, United Kingdom, March 08, 2022 (GLOBE NEWSWIRE) —
Summary
| · | Delivered revenue growth of 31.5%, ahead of expectations, demonstrating continued high growth across the business; |
| · | New platform deals won in 2021 with global telco leaders provides strong momentum into 2022; |
| · | Annual recurring revenue from subscription services grew as a proportion of overall revenues; |
| · | Bango Audience sales accelerate, driven by demand for purchase behavior targeting by app developers; |
| · | Bango achieves record employee engagement score and maintains carbon neutral certification in 2021, expanding commitment to include scope 3 emissions. |
FY2021 Financial Highlights
| · | Revenue grew to $20.7M, an increase of 31.5% (2020: $15.7M); |
| · | End User Spend (EUS) increased to $4.1B, up 73.6% (2020: $2.4B), the seventh year of continued strong growth; |
| · | Adjusted EBITDA* grew to $6.2M (2020: $6.0M); |
| · | Net profit from the core Bango business, excluding the share of net loss of the NewDeep associate, was up 48.6% at $2.5M (2020: $1.7M); |
| · | Cash** at 31 December 2021 increased to $9.7M (2020: $8.0M). |
*Adjusted EBITDA is earnings before interest, tax, depreciation, amortization and share based payment charge.
**Cash includes cash and cash held in short term investments
FY2021 Operational Highlights
| · | Telcos increasingly standardize on Bango as their single technology to bundle third party offers, demonstrated by 2021 platform licensing wins including Verizon; |
| · |
Full story available on Benzinga.com
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