Bango records 64% increase in revenues
Bango’s results for the first half of 2019 reveal a company making significant progress, with revenue up 64 per cent to £4.32million and a ninefold increase in registrations for its app developer platform, Bango Marketplace.
The Cambridge company provides direct carrier billing, enabling app store customers to click and buy apps or in-app content and placing the charge onto mobile phone bills. It was founded in 199, and now has positive EBITDA (operating profit before depreciation, amortization, share based payments and exceptional items): in the first half of the year adjusted EBITDA was £0.01m, up from a loss of £0.92million in the same period last year.
Speaking to the Cambridge Independent as the results were announced l (September 17), CEO and founder Ray Anderson said: “Having just spoken to a group of market analysts, I can tell you they got quite excited, and the story behind the figures is even better – end-user spend has doubled, so it’s going very well.”