Boku revenues rise as transaction values soar

Carrier billing outfit Boku expects to turn in a sharp rise in revenues in its last trading year as a result of higher transaction values across its platform.

Boku expects sales to come in somewhere between $34.8m and $35.3m - for a minimum gain of 40% over its prior year. Adjusted EBITDA was projected to be "in line with or modestly exceed market expectations".

The AIM-listed firm said its improved revenues were driven by a 109% increase in total processed value to $3.6bn.

Cash balances soared 61.5% to $32.3m as of 31 December.

Chief executive Jon Prideaux said: "Helping our customers to acquire new users, combined with the fact that an increasing number are returning to make repeat transactions, has driven triple-digit growth rates in the processed volume across our platform to $3.6bn in 2018."

"With all of our KPIs flashing green, we look forward to reporting on our audited results and updating on Mobile Identity."

As of 1030 GMT, Boku shares had tumbled 7.88% to 72.70p.