Fascinating to read very different views on one-click app store payments specialist Bango (BGO:AIM). This is what the company has said today:

'In March 2015, Bango forecast that end-user spend transacted through its platform would grow by at least 100% to over £65 million ($101 mill) annualized run rate by December 2015. Bango is pleased to report that end user spend is growing in line with this expectation, at an accelerating rate of growth.

The Marmite AIM company also happily flags a 'healthy pipeline of 30 activations which were already scheduled for launch in 2015', with 15 now 'live'.

The positive torch is held by TechMarketViews' Peter Roe. He says, 'We would expect the forecast revenue advance to positively impact the bottom line as the platform and the wider operation scales. If so, we can see that shareholder patience will increasingly be rewarded.'

But there are sceptics, including Megabuyte's Philip Carse. 'Despite the strong growth in end user spend, this translates into less than a £3 million gross profit for Bango given the target 2% to 5% margins on offer, versus a current £53 million market capitalisation,' the analyst says.

I wrote this back in September, after the company's sixth cash call in its 10 years on the UK market. It's never made a profit. Investors can make up their own minds.


Issue Date: 27 May 2015