Boku Revenue Rises 5% as It Hires Former Trustly Executive to Run Product

Boku's revenue rose 5% to $66.5 million in the first half of 2026, the London-listed payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company said today (Wednesday). Excluding $3.4 million of one-off launch pricing booked a year earlier, revenue grew 11%, according to the company.

The half also brought Boku's first channel partnership, with Stripe. Stripe merchants can now accept selected local payment methods through Boku's network, and the first of them are already live, Boku said. Total payment volume across the network rose 16% to $8.6 billion.

London's trading industry is coming home!

The comparison base carries a known distortion. A year ago, the company reported first-half revenue of $63.3 million, including launch-phase pricing it said would not repeat.

Wallets Grow 15% on a Like-for-Like Basis

Revenue from digital wallets and account-to-account payments reached $22.0 million, up 15% on an underlying basis. On a reported basis the line was slightly below the $22.5 million booked in the first half of 2025, when the one-off pricing fell into this segment.

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Direct carrier billing, which charges purchases to a mobile phone bill, grew 3% to $35.3 million and still accounts for more than half of revenue. Bundling revenue climbed 39% to $9.2 million, with 51 million subscribers served against 42 million a year earlier.

The company added 10 local payment methods and 47 new payment connections for 14 merchants during the period. It also processed its first transactions on Brazil's PIX and India's UPI instant payment systems.

Volume grew faster than revenue. The blended take rate fell to 77 basis points from an underlying 81 a year earlier.

Adjusted EBITDA rose 7% to $19.6 million against the underlying figure. Against the $21.8 million reported for the first half of 2025, it fell about 10%. Profit before tax rose 20% to $12.8 million.

Merchant Delays and Two Suspended Connections

Market launches for one key merchant, planned for the first half, slipped into the second because of the merchant's dual-sourcing policy, Boku said.

All the affected markets are now live, according to the company. The merchant was not named.

Local authorities in one country suspended two of Boku's direct carrier billing connections. Boku said it has no remaining exposure in that market. The country was not named.

Group cash fell to $186.8 million at the end of June from $245.6 million at the end of December.

Boku attributed the drop to the unwinding of seasonally high December balances, dual sourcing on settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term volumes and share buybacks. The company repurchased 9.5 million shares for $23.6 million in the half.

Own cash stood at $84.6 million, down from $102.9 million.

New Product Chief Arrives in October

Karim Ahmad will join as chief product officer on October 1, replacing Adam Lee, who led Boku's product function for 15 years and is moving into an advisory role. Ahmad most recently advised payments businesses at Bain & Company.

He was previously chief product and technology officer at Trustly, chief product officer at Paysafe and executive vice president of global product and innovation at TSYS.

Chief Executive Stuart Neal said the largest merchants need a partner able to turn "the complexity of fragmented local payment systems into a platform for growth."

Neal has led the company since succeeding Jon Prideaux, who announced his retirement in 2023.

Full-Year Range Sits Below the Medium-Term Goal

Boku expects full-year revenue of $135 million to $142 million and adjusted EBITDA of $38 million to $42 million. The revenue range implies second-half sales of $68.5 million to $75.5 million, and full-year growth of 5% to 11% on the $128.5 million reported for 2025.

In January, Neal said the company expected medium-term organic revenue growth above 20% a year, with EBITDA margins above 30%.