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Bango PLC (GB:BGO)
LSE:BGO
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Bango plc (BGO) AI Stock Analysis

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GB:BGO

Bango plc

(LSE:BGO)

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Outperform 76 (OpenAI - 4o)
Rating:76Outperform
Price Target:
131.00p
▲(13.91% Upside)
Bango plc's overall stock score is driven by strong technical momentum and positive earnings call sentiment, highlighting growth in key segments and financial flexibility. However, the valuation is impacted by ongoing net losses and the absence of a dividend yield. Financial performance shows potential for future growth, but profitability improvements are needed to enhance the company's financial standing.

Bango plc (BGO) vs. iShares MSCI United Kingdom ETF (EWC)

Bango plc Business Overview & Revenue Model

Company DescriptionBango plc, together with its subsidiaries, develops, markets, and sells technology that enables the marketing and sale of products and services to mobile phone users. The company offers Bango Marketplace that enables app marketers in finding Bango Audiences to directly reach new paying users; Bango Payments, which connects online app stores and merchants to approximately 3 billion users; Bango Resale, a solution to deliver the results from reselling and bundling products and services; and Bango Boost+, a customer and revenue growth program. It operates in the United Kingdom, the European Union, the United States, Canada, and internationally. The company serves retail, telecom, and app developer industries. Bango plc was founded in 1999 and is based in Cambridge, the United Kingdom.
How the Company Makes MoneyBango generates revenue primarily through transaction fees charged on the mobile payments processed via its platform. Each time a customer makes a purchase using Bango's payment solutions, the company earns a percentage of the transaction value. Additionally, Bango derives revenue from its data analytics services, which provide insights and analytics to merchants and developers to optimize their sales strategies. The company also benefits from strategic partnerships with mobile operators and app stores, which enhance its reach in the digital commerce ecosystem and provide access to a broader customer base. These partnerships can lead to additional revenue streams through joint marketing efforts and shared customer insights.

Bango plc Earnings Call Summary

Earnings Call Date:Sep 15, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Mar 24, 2026
Earnings Call Sentiment Positive
Bango showed strong growth in its Digital Vending Machine segment and increased its EBITDA significantly. The successful entry into new markets and the refinancing of the capital structure further strengthen its position. However, the transactional business remains flat, and ongoing exceptional costs continue to impact the bottom line. The overall sentiment is positive as the highlights, particularly the growth in DVM and EBITDA, outweigh the lowlights.
Q2-2025 Updates
Positive Updates
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.
Negative Updates
Flat Transactional Business Revenue
The transactional business revenue remained steady at $16.4 million, in line with last year, indicating a lack of growth in this segment.
Ongoing Exceptional Costs
Bango incurred $1.8 million of cash exceptionals, including restructuring costs and data migration charges. These exceptional costs are expected to continue in the second half.
Net Loss Narrowed But Persists
Bango reported a net loss of $3.2 million, although this narrowed by $1 million compared to last year.
Company Guidance
During the Bango plc investor presentation, detailed guidance for the first half of fiscal year 2025 was provided, highlighting key metrics and growth strategies. Bango reported a 5% increase in revenue to $25.2 million, with annual recurring revenue growing by 20% year-on-year to $15.6 million, driven by a net revenue retention rate of 108%. The Digital Vending Machine (DVM) business showed strong momentum with a 49% CAGR, contributing significantly to the 66% increase in adjusted EBITDA. The gross margin improved by 350 basis points to 84.3%, and operating expenses were reduced by 9%. Bango’s strategy focuses on expanding in the telco sector, enhancing data differentiation for content providers, exploring new verticals, and extracting value from the payments business. The company secured seven new DVM customers in the first half, increasing the number of active subscriptions to over 19 million, and is on track to deliver revenue and EBITDA in line with expectations for the year.

Bango plc Financial Statement Overview

Summary
Bango plc demonstrates strong revenue growth and operational efficiency, as evidenced by high gross margins. While profitability remains a concern with negative net income, the company shows positive cash flow trends and maintains a healthy balance sheet with manageable leverage. Overall, Bango plc is positioned well for future growth, though improvements in profitability would enhance its financial standing.
Income Statement
80
Positive
Bango plc exhibited robust revenue growth with a 15.8% increase from the previous year, indicating a strong market position. Despite a negative EBIT margin of -5.1% and a net profit margin of -6.8%, the company showed a significant improvement in EBITDA margin to 16.9%. The gross profit margin remained high at 78.3%, highlighting operational efficiency.
Balance Sheet
70
Positive
The company's balance sheet reflects a moderate debt-to-equity ratio of 0.26, suggesting prudent leverage use. The equity ratio is 38.2%, showing a stable capital structure. However, the negative ROE of -13.9% indicates challenges in generating returns on equity.
Cash Flow
75
Positive
Bango plc's free cash flow improved significantly, with a positive growth rate from the previous year. The operating cash flow to net income ratio is strong at -5.2, reflecting effective cash generation despite net losses. The free cash flow to net income ratio is 0.92, which is a positive sign for future cash flow stability.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue53.37M46.10M23.22M15.35M16.58M
Gross Profit41.79M39.62M21.05M14.43M16.11M
EBITDA9.02M-570.00K3.75M
Net Income-3.65M-8.83M1.01M
Balance Sheet
Total Assets68.48M69.67M58.32M31.23M36.84M
Cash, Cash Equivalents and Short-Term Investments3.38M3.76M10.35M7.95M
Total Debt6.88M10.48M201.70K
Total Liabilities42.30M42.18M32.69M4.01M
Stockholders Equity26.18M21.57M25.63M27.29M32.83M
Cash Flow
Free Cash Flow3.35M-16.30M1.45M
Operating Cash Flow18.88M1.64M4.10M
Investing Cash Flow-15.52M-14.94M
Financing Cash Flow-3.72M6.16M4.71M

Bango plc Technical Analysis

Technical Analysis Sentiment
Positive
Last Price115.00
Price Trends
50DMA
94.66
Positive
100DMA
92.67
Positive
200DMA
91.39
Positive
Market Momentum
MACD
8.46
Negative
RSI
58.46
Neutral
STOCH
67.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BGO, the sentiment is Positive. The current price of 115 is above the 20-day moving average (MA) of 105.77, above the 50-day MA of 94.66, and above the 200-day MA of 91.39, indicating a bullish trend. The MACD of 8.46 indicates Negative momentum. The RSI at 58.46 is Neutral, neither overbought nor oversold. The STOCH value of 67.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:BGO.

Bango plc Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
78
Outperform
213.04M19.114.00%-4.35%5.34%
76
Outperform
£92.20M-10.50%6.40%70.78%
74
Outperform
682.48M236.082.74%16.77%-64.34%
72
Outperform
678.35M72.731.03%-0.85%
63
Neutral
449.01M24.3320.59%5.21%1.42%-46.02%
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:BGO
Bango plc
115.00
8.50
7.98%
GB:PAY
Paypoint
653.00
14.23
2.23%
GB:BOKU
BOKU
229.00
64.00
38.79%
GB:FNX
Fonix Mobile PLC
212.00
1.27
0.60%
GB:CYK
Mustang Energy Plc
1.75
-3.50
-66.67%
GB:EWG
WAG Payment Solutions Plc
96.00
18.73
24.24%

Bango plc Corporate Events

Other
Bango Executive Chair Exercises Share Option, Maintains Stake
Neutral
Sep 17, 2025

Bango PLC announced that Ray Anderson, the Executive Chair, exercised an option for over 32,500 ordinary shares at a price of 101.3 pence, which was granted in 2015 and set to expire in 2025. This transaction leaves Anderson’s total shareholding unchanged at approximately 7.7% of the company’s total issued share capital, indicating a stable position in the company’s ownership structure.

The most recent analyst rating on (GB:BGO) stock is a Buy with a £244.00 price target. To see the full list of analyst forecasts on Bango plc stock, see the GB:BGO Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Bango PLC Reports Revenue Growth and Expands Digital Vending Machine® Reach
Positive
Sep 15, 2025

Bango PLC reported a 5% increase in total revenue to $25.2 million for the first half of 2025, with a significant 66% growth in adjusted EBITDA. The company’s Digital Vending Machine® (DVM) saw a doubling of active subscriptions to 19.2 million, driven by new customer wins and expanded use by existing clients. Bango’s strategic partnerships and the launch of a fully integrated Super Bundling platform have strengthened its position in the subscription bundling market, setting the stage for future growth and cash generation.

The most recent analyst rating on (GB:BGO) stock is a Hold with a £93.00 price target. To see the full list of analyst forecasts on Bango plc stock, see the GB:BGO Stock Forecast page.

Business Operations and StrategyProduct-Related Announcements
Bango Partners with MTN South Africa to Enhance Subscription Bundling
Positive
Sep 12, 2025

Bango has announced a strategic partnership with MTN South Africa, part of the MTN Group, to enhance subscription bundling through its Digital Vending Machine®. This collaboration aims to provide over 39 million MTN SA customers with seamless access to subscription services, helping to reduce customer churn and offer differentiated services. The partnership allows MTN to scale across multiple markets and quickly introduce new offers, reflecting the evolving needs of its customer base. This move marks a significant milestone for Bango, as it continues to expand its influence in the telecommunications sector by supporting telcos in delivering flexible digital experiences.

The most recent analyst rating on (GB:BGO) stock is a Hold with a £93.00 price target. To see the full list of analyst forecasts on Bango plc stock, see the GB:BGO Stock Forecast page.

Business Operations and StrategyProduct-Related Announcements
Bango Partners with DISH TV and Sling TV to Enhance Subscription Bundling
Positive
Sep 11, 2025

Bango has announced a partnership with DISH TV and Sling TV to utilize its Digital Vending Machine® for launching and scaling subscription bundles. This collaboration allows DISH customers to add services like a football streaming service to their monthly bills, simplifying access and enhancing customer experience. The partnership is part of DISH’s strategy to offer a variety of subscription services efficiently, leveraging Bango’s technology to access a network of global subscription partners and deploy tailored bundles rapidly. This move strengthens DISH and Sling’s market position by providing flexibility and personalization in subscription offerings, aligning with the evolving demands of the subscription economy.

The most recent analyst rating on (GB:BGO) stock is a Hold with a £93.00 price target. To see the full list of analyst forecasts on Bango plc stock, see the GB:BGO Stock Forecast page.

Financial Disclosures
Bango PLC to Release Interim Results and Host Investor Presentation
Neutral
Aug 28, 2025

Bango PLC announced it will release its Interim Results for the first half of 2025 on 15 September 2025. The company will also host an investor presentation and Q&A session on the same day, providing an opportunity for existing and potential shareholders to engage with the management team. This event underscores Bango’s commitment to transparency and stakeholder engagement, potentially impacting investor relations and market perception.

The most recent analyst rating on (GB:BGO) stock is a Hold with a £93.00 price target. To see the full list of analyst forecasts on Bango plc stock, see the GB:BGO Stock Forecast page.

Business Operations and Strategy
Bango PLC Executives Acquire Shares to Strengthen Stakeholder Alignment
Positive
Aug 21, 2025

Bango PLC announced that its directors and persons discharging managerial responsibilities (PDMRs) have purchased shares through the company’s Employee Share Incentive Plan (SIP). This move, involving the acquisition of 17,802 ordinary shares, reflects the company’s commitment to aligning the interests of its management with those of its shareholders, potentially enhancing stakeholder confidence and solidifying its market position.

The most recent analyst rating on (GB:BGO) stock is a Hold with a £94.00 price target. To see the full list of analyst forecasts on Bango plc stock, see the GB:BGO Stock Forecast page.

Business Operations and Strategy
Bango PLC Relocates UK Headquarters to Cambridge Business Park
Neutral
Aug 6, 2025

Bango PLC has announced a change in its registered office and UK headquarters to Matrix House, Cambridge Business Park, Cambridge, effective immediately. This move may reflect Bango’s strategic positioning within the digital content monetization industry, potentially impacting its operational efficiency and stakeholder engagement.

The most recent analyst rating on (GB:BGO) stock is a Buy with a £244.00 price target. To see the full list of analyst forecasts on Bango plc stock, see the GB:BGO Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Bango PLC Reports Strong Growth in 1H2025 with Expanding Digital Vending Machine Adoption
Positive
Jul 24, 2025

Bango PLC reported a 21% growth in Annual Recurring Revenue (ARR) and a more than 60% increase in Adjusted EBITDA for the first half of 2025, driven by the expanding adoption of its Digital Vending Machine® (DVM). The company secured seven new DVM customers, including major telcos in the US, South Korea, and Japan, and launched a fully integrated Super Bundling platform. This expansion positions Bango for scalable and sustainable growth, with a strong market presence and reduced operational expenses, supporting the Board’s confidence in meeting full-year market expectations.

The most recent analyst rating on (GB:BGO) stock is a Buy with a £244.00 price target. To see the full list of analyst forecasts on Bango plc stock, see the GB:BGO Stock Forecast page.

Executive/Board ChangesShareholder Meetings
Bango PLC Announces Successful AGM with All Resolutions Passed
Positive
Jun 30, 2025

At the recent Annual General Meeting, Bango PLC announced that all resolutions were passed, including the re-election and election of directors and the re-appointment of auditors. The approval of these resolutions, particularly those related to share allotment and director appointments, indicates strong shareholder support and positions Bango for continued strategic growth and operational stability.

The most recent analyst rating on (GB:BGO) stock is a Buy with a £244.00 price target. To see the full list of analyst forecasts on Bango plc stock, see the GB:BGO Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Sep 18, 2025