Bango PLC ("Bango" or the "Company") 2023 Full Year Results and 2024 Outlook

CAMBRIDGE, United Kingdom, April 08, 2024 (GLOBE NEWSWIRE) -- Bango (AIM: BGO) today announces its full year results for the 12 months ended 31 December 2023 and provides an update on the outlook for 2024.

FY23 Financial Overview:

Results for the 12 months ended 31 December 2023	FY23		FY22	YoY Change
Transactional Revenue1	$32.7M		$18.3M	+79%
DVM, Bango Audiences & One Off Revenue2	$13.4M		$10.2M	+31%
Total Revenue	$46.1M		$28.5M	+62%
Annual Recurring Revenue (ARR) 3	$8.8M		$5.0M	+77%
Net Retention4	137%		-	-
Adjusted EBITDA5	$6.4M		$5.0M	+29%
Loss After Tax	($8.8M)		($2.1M)	($6.7M)
Net (debt)/cash at 31 December6	($3.9M)		$12.7M	($16.6M)

FY23 Operational highlights:

• 9 new Digital Vending Machine (‘DVM’) license customers (total 18 at end of 2023)
• Bango DVM now used by 3 out of the top 5 US telcos
• 33 new subscription content providers added to the DVM, taking the total to 93 at the end of 2023
• DVM sales opportunity funnel is 7x larger in December 23 versus December 22
• DVM consumer interface released, enabling telcos to launch their DVM faster and providing Bango with more consumer behavior data

Outlook (unaudited)