Cellular Funds Agency Boku Posts 38% H1 Income Leap

Boku Inc. (AIM: BOKU), a global provider of mobile payment and identification solutions, has released its half-yearly interim financials for the first six months of 2021, revealing a 38 percent increase in group revenue.

The revenue figure for the period was $34.2 million, up from $24.7 million the previous year. The company also merged its operations with Fortumo, which it purchased on July 1, 2020. Without Fortumo, the financial firm’s revenue increased by a whopping 21%.

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The increased business activities also increased gross adjusted EBITDA by 61 percent to $10.3 million. The company’s operating income increased to $2.3 million from $0.2 million the previous year.

The financial firm’s pre-tax profit increased to $1.9 million, a significant increase above the $0.09 million earned the previous year.

The need for low-cost businesses is increasing.

According to the company, Boku is known for its Cellular First Funds Community (M1ST), which offers more than 330 cellular funds solutions. Apple, Facebook, Google, Microsoft, Netflix, PayPal, Sony, Spotify, and Tencent are among the company’s high-profile customers.

The company’s finances business debuted several of the company’s products, bringing in $30.7 million in revenue, up 40% from the previous year. The consolidation of Fortumo also aided this figure’s rise, although even without the new subsidiary, the statistics rise by 20%.

The company’s month-to-month active customer base increased by 46 percent as the platform processed $4 billion in total payment volume in the last six months.

“Our short-term performance has been strong, and we expect our long-term future to be much brighter,” said Boku CEO Jon Prideaux. With positive momentum in both the Funds and Identification businesses, I’m confident in our ability to meet the updated, higher goals for the entire year.

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