Boku (BOKU) Trading Update summary

Financial performance

• Group revenue for H1 2025 expected to exceed $63 million, up 34% year-on-year, or 37% on a constant exchange rate basis.

• Digital Wallets and Account to Account revenue surged by approximately 90% compared to H1 2024.

• Adjusted EBITDA anticipated at least $21 million, up 50%, with a margin of about 33%.

• Group cash rose 29% to around $192 million; own cash increased 16% to $87 million, despite a $12.3 million share buyback.

• Excluding $3 million launch-phase revenue, underlying organic revenue growth was 27%, and adjusted EBITDA up 28%.

Operational and strategic highlights

• Monthly active users grew 20% to over 95 million in June 2025.

• Total payment volume increased 27% to over $7 billion.

• Growth driven by expanding LPM connections for merchants, enabling broader global reach.

• Strong momentum and upgraded ambitions for global growth, with new merchants joining in H1 2025.

• Focus on deepening relationships with existing merchants and attracting new ones via direct sales and partnerships.

Guidance and outlook

• Full-year revenue growth rate expected to be at least in line with underlying H1 growth, implying revenue ahead of consensus.

• Adjusted EBITDA now includes foreign exchange costs; on a like-for-like basis, would be higher.

• Medium-term guidance for organic revenue CAGR above 20% and adjusted EBITDA margin over 30% remains unchanged.

• Board welcomes Richard Pennycook CBE as new Chair, succeeding Dr Richard Hargreaves.

• Capital Markets Event scheduled for 16 October 2025 for institutional investors and analysts.