Bango plc (GB:BGO) has released an update.
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Bango PLC has reported a robust first half of 2024, with an 18.6% increase in total revenue to $24.1M and a significant rise in annual recurring revenue by 130.4%, indicating strong market adoption of its Digital Vending Machine platform for subscription services. Despite a net loss before taxation, the company remains optimistic, citing growth in transactional revenue, new customer acquisitions, and strategic partnerships including a global agreement with Uber. Bango’s confidence in their financial trajectory is reinforced by their expanding leadership in the subscription market and continued client engagement.
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