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14 Jan 2019 | 09:05

Boku expects earnings to meet, 'modestly' exceed expectations amid record transaction volume

Direct carrier billing company Boku said it expected adjusted for the year would meet or 'modestly exceed' market expectations as total processed transactions soared to a record.

For the 12 months to 31 December 2018, the company expected to report revenue in the range of US$34.8m to US$35.3m, up more than 40% from the US$24.4m seen in 2017.

Adjusted earnings (EBITDA) was projected to be in line with or modestly exceed market expectations

Total processed value rose 109% of US$3.6bn for 2018, up from US$1.7bn the prior year, and the number of monthly active users on the company's platform rose by 69% to 13.5m. 'At peak, the Boku Platform handled around 220 transactions per second during the second half of 2018- a new record. Processing this volume, at this level, with broadly flat costs, re-emphasises our position as the scale player within our market and has helped us to project that our Adjusted EBITDA* for the year will meet or modestly exceed market expectation,' said Jon Prideaux, Boku's CEO. 'Looking ahead, we are delighted to have closed the acquisition of Danal Inc. in December, allowing us to extend our existing carrier connection skills across a materially larger market. The signature of a Memorandum of Understanding with Danal Co. Ltd of Korea, the former majority shareholder of Danal Inc., is also a positive sign for 2019.'

At 9:05am: (LON:BOKU) Boku Inc. share price was -3p at 79.5p

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