Boku (BOKU) H2 2024 earnings summary

Executive summary

• Achieved strong top-line and adjusted EBITDA growth in 2024, with continued investment in platform scalability, future readiness, and strategic expansion.

• All key operational and financial metrics improved, supporting sustainable growth and stakeholder value.

• Expanded network connectivity and geographic footprint, including new launches in Japan and Poland, and partnerships.

• Raised guidance, reflecting confidence in capturing emerging opportunities.

Financial highlights

• Organic revenues reached $99.3 million, up 24% year-on-year at constant exchange rates.

• Adjusted EBITDA increased 22% to $31.4 million, with a margin of 31.6%.

• Operating profit was $6.2 million, down from the prior year due to higher share-based payments and FX losses.

• Own Cash balance rose 10% year-on-year to $80.2m; excluding buybacks and warrant exercises, up 21%.

• Group cash balances increased 18% year-on-year to $177.3m; company remains debt free.

Outlook and guidance

• Guiding to organic revenue growth of over 20% CAGR in the medium term, with margin accretion from 2026.

• FY25 revenue growth expected to exceed 20%, with adjusted EBITDA margin above 30%.

• Early 2025 trading shows continued momentum, with record revenues in December 2024 and January 2025.