**Summary of BokuInc. Interim Results for H1 2025**
Boku, Inc., a global network of local payment methods (LPMs), reported strong interim results for the six months ended June 30, 2025, highlighting continued growth and strategic progress. The company is on track to meet its medium-term guidance, driven by increasing adoption of LPMs globally.
**Financial Highlights**
**Total Revenue** $63.3 million, up 34% from H1 2024 ($47.3 million), or 36% on a constant exchange rate (CER) basis.
**Direct Carrier Billing (DCB)** Revenue grew 15%, with Payments up 9% and Bundling up 70%.
**Digital Wallets & Account-to-Account (A2A):** Revenue surged 89% (61% excluding launch-phase pricing), reflecting strong merchant and customer adoption.
**Adjusted EBITDA** $21.8 million, a 53% increase from H1 2024 ($14.2 million), with a margin of 34.3% (up from 30.1%).
**Operating Profit** $11.9 million, compared to an operating loss of $0.4 million in H1 2024.
**Cash Position** Group cash balances increased 8% to $192 million, with own cash up 9% to $87.3 million.
**Strategic and Operational Highlights**
**Merchant and User Growth** Monthly Active Users (MAU) increased 20% to 95.5 million, with Total Payment Volume (TPV) up 28% to $7.4 billion.
**New Connections** Delivered 60 new connections for merchants, expanding global reach.
**Merchant Onboarding** Successfully onboarded new merchants, including a leading digital design platform and a global entertainment company.
**Take Rate** Increased to 0.85%, largely due to launch-phase pricing. Underlying take rate remained stable.
**Investment in Growth** Continued focus on revenue growth, product innovation, and operational efficiencies.
**Outlook**
Expects full-year revenue growth to be at least in line with the underlying H1 growth rate of 27%, aligning with upgraded consensus expectations.
Adjusted EBITDA is expected to be in line with consensus, despite the inclusion of currency conversion costs.
Reaffirmed medium-term guidance of organic revenue growth exceeding 20% CAGR and adjusted EBITDA margins <mark style="background-color:yellow">above</mark> 30%.
**CEO Commentary**
Stuart Neal emphasized Bokus strong momentum, driven by trust from tech giants and the scale of its global network. He highlighted the rapid rise of Digital Wallets and A2A schemes, positioning Boku as a trusted partner for global merchants expansion. Neal also underscored investments in banking infrastructure, automation, and innovation to support long-term growth.
**CFO Commentary**
Robert Whittick highlighted the companys strategic execution and scale, driving revenue and EBITDA growth. He noted the diversification of revenue through Digital Wallets and A2A schemes, which now represent 36% of total revenue. Whittick also emphasized Bokus strong cash position and disciplined investment approach.
**Conclusion**
Bokus H1 2025 results demonstrate robust financial and operational performance, underpinned by the global shift towards LPMs. The company remains well-positioned to capitalize on this trend, with a clear focus on sustainable growth and strategic innovation.