Boku - Edison Group

Boku (AIM: BOKU)

Currency in GBP

Last close As at 22/09/2023

GBP1.46

▲ −1.00 (−0.68%)

Market capitalisation

GBP434m

Overview
Price performance
Financials
Research
Thematics

Boku operates a billing platform that connects merchants with mobile network operators and alternative payment methods in more than 90 countries. It has c 370 employees, with its main offices in the US, UK, Estonia, Germany and India.

Direct carrier billing (DCB) is an alternative payment method that uses a consumer’s mobile bill as the means to pay for digital content or services such as games, music or apps. Boku is the dominant DCB player, serving the largest merchants such as Apple, Sony, Facebook, Spotify and Netflix, and is expanding into alternative payment methods such as digital wallets and real-time payments.

Latest Insights

TMT |
Update

04.07.23

Boku — Strong H1 drives upgrades

TMT |
Outlook

22.03.23

Boku — Helping merchants navigate payments complexity

TMT |
Update

17.01.23

Boku — Local payment method growth accelerates

TMT |
Update

29.09.22

Boku — Wider payments reach drives underlying growth

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Sector

TMT

Equity Analyst

Katherine Thompson

Director

Key Management

Jon Prideaux

CEO
Keith Butcher

CFO

Balance Sheet

Forecast net cash (US$m)

129.5

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	3.2	(0.7)	60.8
Relative	(2.2)	(2.0)	53.2
52 week high/low	153.5p/96.0p

Financials

Boku saw strong growth in total payment volume in H123 translating to revenue growth of at least 24% (31% constant currency) and EBITDA growth of at least 25%. Local payment methods were a key driver of growth, pushing up the take rate to 0.76% and contributing 19% of revenue. The company also announced that CEO Jon Prideaux will be stepping down from his role at the end of the year; his successor will be Stuart Neal, who was previously CFO of Boku, providing continuity and decades of experience in the payments industry. Since the start of H223, Boku has begun accepting local payments for Amazon Prime Video in Indonesia, Philippines and Thailand.