Boku Estimates 22% Jump in 2021 Revenue

Boku, a global mobile payment and mobile identity company, is expecting to generate approximately $69 million in revenue in 2021, according to the latest trading update. It is an increase of 22 percent from the revenue of the previous year.

The group’s adjusted EBITDA for the year is estimated to be at $20 million, which is 31 percent higher than the previous year. In addition, it highlighted that both the revenue and EBITDA would have been $2.3 million higher on a constant basis.

Moreover, the demand for Boku’s services jumped significantly over the years. The payments volume processed by the several platforms of the company jumped by 18 percent to more than $8.2 billion last year.

The payments division’s revenue alone increased 21 percent to an estimated $61.9 million, representing almost 90 percent of the group’s total business. Payments EBITDA was up by 21 percent to an estimated $22.9 million.

Growth in Users

Additionally, there was a 13 percent yearly growth in the number of monthly active users of the company in December. It ended the month with 32.3 million active users.

Also, the identity division of the company witnessed strong growth in the year and generated an estimated revenue of $7.1 million, which is 37 percent higher than the previous year, along with an estimated EBITDA of $2.9 million. The growth of this business division was concentrated mostly in Asia and outside the US market.

“We are pleased with our 2021 performance with both Payments and Identity showing good growth, and Group revenue and EBITDA running considerably ahead of last year,” said Jon Prideaux, the CEO of Boku. “Without a significant exchange rate headwind, mostly affecting the second half, both revenues and EBITDA would have been materially higher.”

“These results show that Boku has been able to maintain its performance through the pandemic, despite some distortion to traditional seasonality patterns which we expect to revert to normal in 2022.”