8 January 2018
BANGO PLC
("Bango")
Trading Update, Netflix and Strategy Day
Bango (AIM: BGO), the mobile payments company, provides information about a new merchant launch and an update on trading for the twelve months ended 31 December 2017.
Netflix in Mexico
Bango has partnered with Netflix to launch carrier billing for Netflix subscriptions in Mexico. Customers who sign up to Netflix, the world's leading internet entertainment service, can now charge the monthly subscription cost to their pre or post-paid mobile phone bill. Enabled by Bango, carrier billed payment is initially available to over 12 million subscribers in Mexico on any platform, including Android, Apple and Microsoft devices.
Bango CEO Ray Anderson commented, "Carrier billing adds many new customers to merchant services. We are pleased to provide a fast, safe, easy to use alternative payment method for Netflix customers in Mexico. Netflix is a hugely popular entertainment service and Bango is delighted that the world's major merchants are choosing to plug into the Bango Platform. After doubling the End User Spend run rate for the third consecutive year, this is a great way to start 2018."
Trading Update
Bango continues to focus on growing End User Spend (EUS) through the Bango Platform, to capitalize on the rapidly expanding global market for digital content, goods and services. Trading was in-line with expectations during 2017 and total EUS for 2017 was £271m compared to £132m for 2016 (+105%).
The exit EUS run rate at the end of 2017 exceeded £400m/year, once again more than doubling compared to the exit run rate at the end of 2016.
Bango had cash of £4.8m on 31 December 2017 (31 December 2016: £5.7m).
Strategy Day
On 24 January 2018, the Bango executive team will present an update on the Bango platform strategy, including new products and market opportunities for 2018 and beyond. To register your attendance for this event please email [email protected].
Bango will announce its Final Results for the twelve months to 31 December 2017 on Tuesday, 13 March 2018.
For further information please contact:
Bango plc |
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Ray Anderson, CEO |
+44 3330 770 247 |
Rachel Elias-Jones, CFO |
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Anil Malhotra, CMO |
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Cenkos Securities plc |
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Beth McKiernan / Neil McDonald |
+44 131 220 6939 |
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FTI Consulting |
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Matt Dixon / Rob Mindell |
+44 203 727 1000 |
About Bango
Bango is the standard platform chosen by leading global stores to deliver mobile payments to everyone. As the next billion consumers adopt their first smartphone and look for universal payment methods, Bango will be there to unlock the world of apps, video, music, games and other content that brings those smartphones to life. Global stores plugging into the Bango Payment Platform include Amazon (NASDAQ: AMZN), Google (NASDAQ: GOOG), Samsung (005930: Korea SE) and Microsoft (NASDAQ: MSFT). Bango also partners with leading payment providers around the world to drive new users and revenues through its industry-leading mobile payment solutions. For more information, visit www.bango.com.
