Strong Digital Vending Machine (DVM) Growth
DVM business showed a 49% growth CAGR over the period. The ARR for the DVM business is up 20% year-on-year, signaling strong recurring revenue growth.
Significant Increase in EBITDA
The company reported a 66% increase in adjusted EBITDA, driven by higher-margin revenue and disciplined cost control.
Successful Expansion into New Markets
Bango secured seven new DVM customers in the first half, including their first in Korea and Japan, and further expansion in the U.S. and Europe. Notably, the first DVM customer in Africa with MTN.
Enhanced Financial Flexibility
Bango refinanced its capital structure, securing a $15 million revolving credit facility with NatWest and an enhanced loan facility with NHN, significantly strengthening the balance sheet.