Bango, the data-driven commerce platform, announced that its pretax loss for the first half of the year has widened to $4.9 million, compared to $1.2 million in the previous year. This increase is mainly due to integration costs related to the Docomo Digital acquisition. Despite this loss, Bango experienced a significant boost in revenue, reaching $20.3 million. The growth can be attributed to increased payment and subscription volumes, the addition of new digital vending machine contracts, and the contribution from Docomo Digital.
Despite the widened loss, Bango remains confident in meeting market expectations for the full year. Although they did not disclose a specific figure, the company previously projected a consensus for full-year earnings before interest, taxes, depreciation, and amortization of $12.50 million.
Bango expects to see improved adjusted EBITDA margins as synergies from the Docomo acquisition are fully realized. Additionally, the company is on track to deliver a substantial increase in adjusted EBITDA by 2024.
At 0740 GMT, Bango's shares were trading at 173.5 pence, reflecting a 0.6% increase of 1.0 pence.
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