Bango PLC (GB:BGO)
LSE:BGO
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Bango plc
(LSE:BGO)
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Rating:69Neutral
Price Target:
90.00 p
▲(2.86% Upside)
Action:ReiteratedDate:12/07/25
Bango plc's overall stock score is driven by strong financial performance and positive earnings call highlights, particularly in the Digital Vending Machine segment and EBITDA growth. However, technical analysis indicates potential bearish momentum, and valuation concerns persist due to negative earnings and lack of dividends. The company's strategic expansions and financial flexibility are positive, but profitability improvements are needed to enhance the stock's attractiveness.
Positive Factors
Recurring DVM revenue growth and international expansion
The DVM segment's 49% CAGR, 20% YoY ARR growth and >19M active subscriptions indicate a durable shift toward recurring, higher-margin revenue. International customer additions and 108% net revenue retention improve revenue predictability and underpin sustained ARR-driven cash flows.
Negative Factors
Persistent net losses and weak ROE
Despite profit margin and cash improvements, the continued net loss and negative ROE highlight that returns to shareholders remain weak. Persistent losses constrain retained earnings, limit capital allocation optionality and mean profitability improvements must continue to reach sustainable positive ROE.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring DVM revenue growth and international expansion
The DVM segment's 49% CAGR, 20% YoY ARR growth and >19M active subscriptions indicate a durable shift toward recurring, higher-margin revenue. International customer additions and 108% net revenue retention improve revenue predictability and underpin sustained ARR-driven cash flows.
Read all positive factors
Bango plc (BGO) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£48.16M
Dividend YieldN/A
Average Volume (3M)139.71K
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue Growth6.40%
EPS Growth70.78%
CountryUK
Employees274
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)N/A
Shares Outstanding77,052,826
10 Day Avg. Volume57,233
30 Day Avg. Volume139,708
Financial Highlights & Ratios
PEG Ratio0.31
Price to Book (P/B)2.76
Price to Sales (P/S)1.08
P/FCF Ratio21.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£212.00Price Target Upside142.29% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.04
Revenue Forecast (FY)£60.40M
Bango plc Business Overview & Revenue Model
Company Description
Bango 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...
How the Company Makes Money
Bango generates revenue primarily through transaction fees charged on payments processed via its platform. The company partners with mobile operators and digital content providers to offer direct carrier billing solutions, allowing end-users to ma...
Bango plc Earnings Call Summary
Earnings Call Date:Sep 15, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Sep 22, 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.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.
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.
Read all updates
Q2-2025 Updates
Positive
Negative
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.
Read all positive updates
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
Income Statement
80
Positive
Balance Sheet
70
Positive
Cash Flow
75
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 55.09M | 66.77M | 58.27M | 28.55M | 20.70M | 12.16M |
| Gross Profit | 31.04M | 52.29M | 50.08M | 25.87M | 19.47M | 9.24M |
| EBITDA | 10.27M | 11.28M | -720.48K | 1.22M | 3.45M | 3.75M |
| Net Income | -2.84M | -4.57M | -11.16M | -2.14M | 433.52K | -172.00K |
Balance Sheet | ||||||
| Total Assets | 82.90M | 68.48M | 69.08M | 71.68M | 42.12M | 36.84M |
| Cash, Cash Equivalents and Short-Term Investments | 4.60M | 3.38M | 4.75M | 12.72M | 9.65M | 5.84M |
| Total Debt | 20.36M | 6.88M | 13.25M | 3.73M | 180.11K | 275.00K |
| Total Liabilities | 57.19M | 42.30M | 42.18M | 40.17M | 5.31M | 4.01M |
| Stockholders Equity | 25.71M | 26.18M | 27.49M | 32.13M | 36.81M | 32.83M |
Cash Flow | ||||||
| Free Cash Flow | 13.11M | 3.35M | -20.60M | -5.22M | -357.97K | 1.45M |
| Operating Cash Flow | 13.29M | 18.88M | 1.35M | 5.88M | 6.00M | 2.99M |
| Investing Cash Flow | -15.10M | -15.52M | -18.89M | -936.80K | -7.29M | -4.40M |
| Financing Cash Flow | 3.89M | -3.72M | 7.78M | -76.00K | 2.14M | 4.25M |
Bango plc Technical Analysis
Negative
87.50
Price Trends
74.85
Negative
83.10
Negative
89.01
Negative
Market Momentum
-3.84
Positive
24.38
Positive
23.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BGO, the sentiment is Negative. The current price of 87.5 is above the 20-day moving average (MA) of 68.40, above the 50-day MA of 74.85, and below the 200-day MA of 89.01, indicating a bearish trend. The MACD of -3.84 indicates Positive momentum. The RSI at 24.38 is Positive, neither overbought nor oversold. The STOCH value of 23.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:BGO.
Bango plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £156.06M | 6.83 | 104.64% | 7.02% | -4.35% | 5.34% | |
69 Neutral | £48.16M | -5.27 | -9.07% | ― | 6.40% | 70.78% | |
68 Neutral | £502.73M | 66.92 | 9.64% | ― | 22.19% | 78.35% | |
64 Neutral | £353.12M | 8.32 | 17.25% | 20.30% | 1.58% | -57.55% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | £761.67M | 413.34 | 3.98% | ― | -0.85% | ― | |
56 Neutral | £35.14M | -11.38 | 31.19% | ― | 25.15% | ― |
* Technology Sector Average
GB:BGO
Bango plc
62.50
-15.00
-19.35%
GB:PAY
Paypoint
581.00
-24.15
-3.99%
GB:PCIP
PCI PAL
48.50
3.00
6.59%
GB:BOKU
BOKU
169.00
10.00
6.29%
GB:FNX
Fonix Mobile PLC
157.50
-22.04
-12.28%
GB:EWG
WAG Payment Solutions Plc
110.00
44.13
66.98%
Bango plc Corporate Events
Regulatory Filings and Compliance
Bango Updates Total Voting Rights Following Employee Share Option Exercises
Neutral
Feb 2, 2026
Bango plc has updated the market on its total voting rights, confirming that as of 31 January 2026 its issued share capital stands at 76,986,826 ordinary shares, each carrying one voting right. The figure reflects the issuance of 4,000 new ordinar...
Other
Bango Chair Ray Anderson Gifts Over 400,000 Shares to Family and Charity
Neutral
Jan 30, 2026
Bango plc has disclosed a series of share transfers by Executive Chair Ray Anderson, who has gifted 200,000 ordinary shares to his children at no cost, including 100,000 shares to his closely associated person, Coco Anderson, and a further 203,194...
Other
Bango CFO Increases Personal Stake with Purchase of Additional Shares
Positive
Jan 28, 2026
Bango has disclosed that its Chief Financial Officer and Executive Director, Matthew Wilson, purchased 12,755 ordinary shares in the company at a price of 78.4 pence per share on 27 January 2026. Following this transaction, Wilson’s direct a...
Business Operations and StrategyProduct-Related Announcements
Bango Wins KDDI Deal to Power Streaming Bundles for povo2.0 Subscribers
Positive
Jan 28, 2026
Bango has been selected by Japanese telecoms giant KDDI to power subscription bundles for its povo2.0 prepaid mobile service using the Bango Digital Vending Machine platform. The deal will allow povo2.0 customers to add a range of leading streamin...
Other
Bango CFO Increases Stake with Purchase of Additional Shares
Positive
Jan 28, 2026
Bango plc has disclosed that its Chief Financial Officer and Executive Director, Matthew Wilson, purchased 12,755 ordinary shares in the company at 78.4 pence per share on 27 January 2026. Following this transaction, Wilson’s direct and indi...
Business Operations and StrategyFinancial Disclosures
Bango boosts margins and recurring revenue as subscription platform scales
Positive
Jan 20, 2026
Bango reported a stronger operating performance for 2025, highlighting a strategic shift toward higher-margin, recurring subscription revenues and tighter cost control. Annual Recurring Revenue rose 30% to $18.2m, underpinned by nearly 60% growth ...
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.