Bango CEO on 2024 milestones and growth ahead [Video]

Bango PLC (AIM:BGO, OTCQX:BGOPF) CEO Paul Larbey talked with Proactive’s Stephen Gunnion about the company’s robust financial performance for 2024 and its future growth prospects. Larbey highlighted double-digit revenue growth, with revenue rising 16% to $53.4 million, and adjusted EBITDA growing 137% to over $15.2 million.

The company’s payments business grew 11% (14% in constant currency), driven by its strength in Japan following the DOCOMO Digital acquisition. Meanwhile, Bango’s subscription bundling business saw 28% growth, underpinned by a 59% increase in recurring revenue.

Larbey also shared insights into future expansion, focusing on the US, Latin America, and emerging opportunities in Europe and Asia. He emphasised conservative forecasts showing EBITDA growth of over 200% between 2023 and 2026, paired with a 30% reduction in CapEx.

On analyst coverage, Larbey welcomed a second analyst’s valuation report, with an average price target of £2.33, significantly above the current share price.

“Strong cash generation and profitability growth are driving our value,” Larbey explained, citing key areas of growth and innovation in Bango’s Digital Vending Machine (DVM) technology.

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