Boku Sees $30.3M in H1 Revenue, Profits Soared Due to Identity Unit Sale

Boku (AIM: BOKU), a payments platform, generated at least $30.3 million from its payments revenue streams in the first six months of 2022, compared to $30.7 million in H1 2021. On a constant currency basis, the figure came in $2.5 million higher, showing a 7 percent growth.

The adjusted EBITDA stood at $9.5 million, which is down from $11.1 million in the previous year.

However, the pre-tax profit of the group came in at approximately $29.5 million, compared to $1.9 million in the prior year. It includes $24 million in profits that came from the disposal of Boku's Identity division. The total consideration for that sale was $32.3 million which was closed last February.

“Boku is now a pure play payments business,” said Jon Prideaux, Boku's CEO.

“The significant depreciation of most major currencies against the dollar should not obscure the real progress that the business has made in the last year. Growth in our key metrics is strong.”

Customer Metrics

The company added 28.8 million new uses in the first six months of the year. It ended the period with 46.3 million total users, which is yearly growth of 22 percent.

Additionally, the total payment value on the platform jumped to $4.4 billion in the six months. In addition, it witnessed a growth in local payment methods and real-time payments, which increased eleven times in a year.

“Underpinned by our leading position in Direct Carrier Billing, the number of Monthly Active Users increased by 22%. We saw explosive growth in the non-DCB Local Payment Methods usage, up elevenfold, driven by deployments with the world's leading music and video streaming companies, the world's leading social networks and leading games companies. It's still early days for these payment methods, and I look forward to the future with confidence,” Prideaux added.