Boku Inc on Wednesday said it expects a profit rise for the first half of 2022, boosted by the disposal of its Identity division.
Shares were up 7.0% at 94.70 pence each on Wednesday morning in London.
For six months ended June 30, the San Francisco-based mobile payments company said it expects pretax profit to jump significantly to $29.5 million from just $1.9 million a year before, including the profit on the disposal of Boku’s Identity division of $24.0 million, net of disposal costs, in February. The group said it is now debt free.
However, payments revenue is expected at $30.3 million, marginally down from $30.7 million a year ago. Payments adjusted earnings before interest, tax, depreciation and amortisation is expected at $9.5 million, down 17% from $11.1 million.
Monthly active users of the Boku platform increased to 46.3 million in June, up 22% compared to 37.9 million a year earlier.
‘The group saw further growth in volume processed through its mobile-first payments network of Direct Carrier Billing, Bundling, eWallets and Real Time Payments in the first half of 2022,’ Boku noted. Total volumes are expected to up by 14% year-on-year.
Cash as at June 30 stood at $67.8 million, up from $38.0 million a year before.
Boku said it has continued to expand its regulated payment capabilities to cover more than 50 markets. Its mobile-first payments network also expanded to over 7 billion end user accounts.
Chief Executive Officer Jon Prideaux said: ‘Growth in our key metrics is strong. Underpinned by our leading position in Direct Carrier Billing, the number of monthly active users increased by 22%. I look forward to the future with confidence.’
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