BOKU (BOKU) AI Stock Analysis

• Market Cap: £651.17M
• Dividend Yield: N/A
• Average Volume (3M): 719.71K
• Price to Earnings (P/E): 65.0
• Beta (1Y): 0.68
• Revenue Growth: 22.19%
• EPS Growth: 78.35%
• Country: UK
• Employees: 450
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): 0.02
• Shares Outstanding: 295,986,100
• 10 Day Avg. Volume: 806,811
• 30 Day Avg. Volume: 719,710
• PEG Ratio: -2.87
• Price to Book (P/B): 4.97
• Price to Sales (P/S): 6.89
• P/FCF Ratio: 19.84
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £319.33
• Price Target Upside: 41.93% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: 248.00p ▲(10.22% Upside)

BOKU's overall stock score reflects its strong financial performance and positive corporate events, which are offset by bearish technical indicators and a high P/E ratio. The company's robust revenue growth and strategic initiatives position it well for future growth, but current market sentiment and valuation concerns present risks.

Positive Factors

Sustained Revenue Growth

Revenue roughly doubled 2019–2024 and Fundamentals show ~22% growth, indicating enduring demand for BOKU’s mobile payments platform. Durable top-line expansion supports scale economics, continued merchant acquisition and reinvestment in infrastructure to secure long-term market share.

Very High Gross Margins

Consistently >90% gross margins reflect a software/platform economics with low incremental costs for transactions. This high unit profitability gives structural leverage to expand sales/marketing and fraud prevention while preserving EBITDA resilience versus volume swings.

Balance Sheet Stability

Decreasing leverage and rising equity provide financial flexibility for capex, product investment and potential M&A without over-reliance on external funding. A stable capital base supports multi-year strategy execution and resilience through industry cycles.

Negative Factors

Sharp Net Margin Compression

A steep fall in net margin erodes the conversion of high gross profits into shareholder returns. If driven by rising operating costs or one-off items, margins need recovery to sustain free cash flow and fund growth without increasing leverage or diluting returns.

ROE Volatility and Recent Decline

Variable and falling ROE signals inconsistent ability to generate returns on invested capital. Persistent ROE weakness can indicate inefficient capital allocation or margin pressure, undermining long-term shareholder value unless management improves operational returns or repurchases capital.

Slight Free Cash Flow Decline

Even modest drops in FCF may reflect rising capex or investment to support growth; if sustained, this reduces excess cash for buybacks, deleveraging or reinvestment. Monitoring FCF trends is crucial to ensure growth investments don’t meaningfully constrain financial flexibility.

BOKU Business Overview & Revenue Model

Company Description

Boku, Inc. provides mobile billing and payment solutions for mobile network operators and merchants. Its solutions enable consumers to make online payments using their mobile devices. The company offers digital payments solutions, including mobile wallets, real-time payments schemes, and direct carrier billing for merchants. It also provides mobile identity and authentication solutions. The company connects its customers with mobile network operators billing, identity, and sales systems. It operates in the United states, Europe, and internationally. The company was incorporated in 2008 and is headquartered in San Francisco, California.

How the Company Makes Money

BOKU generates revenue primarily through transaction fees charged to merchants for processing payments via its platform. When a customer makes a purchase using BOKU's services, the company takes a percentage of the transaction value as its fee. Additionally, BOKU earns money from subscription fees for its fraud management and user authentication solutions, which help businesses minimize risk and enhance payment security. The company also benefits from partnerships with mobile carriers and digital platforms, allowing it to expand its reach and customer base, thereby driving further revenue growth.

BOKU Financial Statement Overview

Summary

BOKU presents a strong financial profile with robust revenue growth and efficient margin management. The company's balance sheet is stable, with low leverage and growing equity, although ROE fluctuations warrant attention. Cash flows are healthy, supporting ongoing operations and potential investments. While recent profitability declines pose a risk, the company's overall financial health remains sound, positioning it well for future growth.

Income Statement

BOKU has demonstrated strong revenue growth over the last few years, with Total Revenue increasing from $50.1M in 2019 to $99.3M in 2024. The Gross Profit Margin is robust, consistently above 90% from 2021 onward, indicating efficient cost management. However, the Net Profit Margin declined from 12.2% in 2023 to 3.8% in 2024, suggesting increased operational expenses or other costs impacting net income. Despite this, the steady increase in EBIT and EBITDA margins over time highlights improved operational efficiency.

Balance Sheet

The company's Balance Sheet shows financial stability with a relatively low Debt-to-Equity Ratio, decreasing over the years, indicating a low level of financial leverage. Stockholders' Equity has grown consistently, supporting a strong Equity Ratio of around 33.9% in 2024. However, the Return on Equity has fluctuated, with a notable decline in recent years, reflecting potential inefficiencies in generating returns for shareholders.

Cash Flow

BOKU's cash flow performance is solid, with consistently positive Operating Cash Flow and Free Cash Flow over the years. The Free Cash Flow to Net Income Ratio is favorable, highlighting effective cash generation relative to reported profits. A slight decline in Free Cash Flow in 2024 compared to 2023 suggests increased capital expenditures or other cash outflows, which should be monitored.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	100.80M	99.27M	82.72M	63.76M	69.17M	56.40M
Gross Profit	99.90M	96.85M	80.67M	61.99M	63.43M	27.13M
EBITDA	23.64M	14.31M	19.21M	14.94M	18.15M	-10.74M
Net Income	10.30M	3.78M	10.09M	4.30M	6.27M	-18.79M
Balance Sheet
Total Assets	447.81M	406.33M	376.81M	277.88M	216.89M	225.05M
Cash, Cash Equivalents and Short-Term Investments	164.75M	142.31M	117.36M	105.15M	56.65M	61.29M
Total Debt	3.82M	2.65M	3.05M	3.55M	12.65M	15.43M
Total Liabilities	304.97M	268.59M	243.28M	166.43M	134.44M	153.30M
Stockholders Equity	142.84M	137.74M	133.53M	111.44M	82.45M	71.75M
Cash Flow
Free Cash Flow	52.03M	34.47M	34.73M	44.32M	6.08M	27.85M
Operating Cash Flow	52.47M	42.01M	40.60M	49.65M	11.92M	31.26M
Investing Cash Flow	-5.59M	-3.91M	1.62M	21.41M	-5.81M	-40.47M
Financing Cash Flow	-17.78M	-8.99M	-8.79M	-11.43M	-5.79M	34.42M

BOKU Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 225.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BOKU, the sentiment is Positive. The current price of 225 is above the 20-day moving average (MA) of 213.43, above the 50-day MA of 213.86, and above the 200-day MA of 206.01, indicating a bullish trend. The MACD of 3.10 indicates Negative momentum. The RSI at 62.69 is Neutral, neither overbought nor oversold. The STOCH value of 78.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:BOKU.

BOKU Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FNX	77 Outperform	£168.45M	16.00	104.98%	7.02%	-4.35%	5.34%
BOKU	70 Outperform	£651.17M	65.03	9.64%	―	22.19%	78.35%
BGO	69 Neutral	£66.59M	-32.64	-10.50%	―	6.40%	70.78%
EWG	66 Neutral	£886.31M	97.35	3.98%	―	-0.85%	―
PAY	65 Neutral	£285.09M	18.12	16.31%	20.30%	1.58%	-57.55%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
PCIP	56 Neutral	£38.76M	891.67	―	―	25.15%	―

BOKU Corporate Events

Boku Tightens Share Base With Treasury Buyback on AIM

Boku Inc., the AIM-quoted mobile payments specialist, has repurchased 148,324 of its own common shares at 220 pence each via Investec Bank and intends to hold the stock in treasury. Following the transaction, Boku’s issued share capital stands at 303,546,249 shares, of which 7,646,215 are held in treasury, leaving 295,900,034 voting rights in issue, a figure the company highlighted as the new reference point for investors monitoring their disclosure thresholds under UK transparency rules.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £334.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.

Boku Buys Back 250,000 Shares for Treasury, Reducing Voting Share Count

Boku Inc., the AIM-quoted mobile payments specialist, has repurchased 250,000 of its own common shares at 220 pence each via Investec Bank and will hold the stock in treasury. Following this transaction, Boku’s issued share capital stands at 303,483,999 shares, of which 7,497,891 are held in treasury, leaving 295,986,108 voting rights outstanding, a figure shareholders are instructed to use when assessing disclosure thresholds under UK transparency rules. The move marginally reduces the free float and can signal management’s confidence in the company’s valuation and long-term prospects, while also providing Boku with greater flexibility over its capital structure and potential future use of treasury shares.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £334.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.

Boku Buys Back 100,000 Shares, Sets New Voting Rights Total

Boku Inc., the AIM-listed mobile payments specialist, has repurchased 100,000 of its own common shares at 217 pence each via Investec Bank and will hold the stock in treasury. Following this buyback, Boku’s issued share capital stands at 303,483,999 common shares, of which 7,247,891 are held in treasury, leaving 296,236,108 voting rights in circulation, a figure that shareholders are advised to use when calculating disclosure thresholds under UK transparency rules.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £220.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.

Boku Buys Back 365,000 Shares, Sets New Voting Rights Total

Boku Inc., the London-headquartered mobile payments specialist listed on AIM, has executed a share buyback of 365,000 common shares on 7 January 2026 via Investec Bank at a volume-weighted average price of 217.629 pence, with the shares to be held in treasury. Following this transaction, Boku’s issued share capital stands at 303,483,999 common shares, of which 7,147,891 are held in treasury, leaving 296,336,108 voting rights in issue, a figure that will serve as the new reference point for investors monitoring and reporting changes in their holdings under UK disclosure and transparency rules.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £220.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.

Boku Buys Back 150,000 Shares, Reducing Free-Float Voting Capital

Boku Inc., the London-headquartered mobile payments specialist, has continued to execute its share buyback programme with the purchase of 150,000 common shares at 219 pence each on 6 January 2026 through Investec Bank, with the shares to be held in treasury. Following this transaction, Boku’s issued share capital stands at 303,483,999 common shares, of which 6,782,891 are held in treasury, leaving 296,701,108 voting shares in circulation, a change that slightly increases existing shareholders’ proportional voting rights and provides the company with additional balance sheet flexibility for future capital management or incentive plans.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £220.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.

Boku Buys Back 30,000 Shares for Treasury, Updates Voting Rights Count

Boku has repurchased 30,000 of its own common shares at 219 pence each via Investec Bank and will hold the stock in treasury, a move that marginally reduces its free float and can be interpreted as a sign of confidence in the company’s valuation. Following the transaction, Boku’s issued share capital stands at 303,483,999 shares, of which 6,632,891 are held in treasury, leaving 296,851,108 voting rights in circulation, a revised figure that shareholders must now use when calculating disclosure thresholds under UK transparency rules.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £220.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.

Boku Buys Back 95,000 Shares, Trims Voting Rights to 296.9 Million

Boku Inc. has repurchased 95,000 of its own common shares at a price of 220 pence per share through Investec Bank and intends to hold these shares in treasury, as part of its ongoing capital management activities. Following this transaction, Boku’s issued share capital stands at 303,483,999 common shares, of which 6,602,891 are held in treasury, reducing the total number of voting rights to 296,881,108 and slightly increasing existing shareholders’ proportional voting interests while providing a clearer base for regulatory disclosure calculations under UK transparency rules.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £220.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.

Boku Launches Up to 5% Share Buyback to Capitalise on Undervalued Stock

Boku has launched a share buyback programme authorising the repurchase of up to 4 million common shares, equivalent to around 5% of its issued share capital at any one time, with all repurchased stock to be held in treasury. The board argues that the current share price undervalues the business and views the buyback as an efficient use of the company’s growing cash balance, while also providing a pool of treasury shares to meet future warrant exercises and staff equity awards, thereby limiting dilution for existing investors. Investec Bank has been mandated to execute the programme within pre-set pricing limits, and the initiative will run from 2 January 2026 until 30 April 2026 or until the maximum number of shares is acquired, though the company acknowledges that limited liquidity means daily purchases may comprise a significant share of normal trading volume and will not qualify for certain market abuse regulation exemptions.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £220.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.

Boku Confirms Updated Share Capital and Voting Rights Total

Boku Inc. has reported that, as of 31 December 2025, it has 303,483,999 common shares in issue, of which 6,507,891 are held in treasury, leaving 296,976,108 shares carrying voting rights. The company confirmed that this voting-rights figure is the reference denominator for shareholders when calculating whether they must disclose new or changed holdings under UK disclosure and transparency rules, providing clarity on its capital structure for investors and market regulators.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £220.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.

Boku Announces Total Voting Rights and Share Capital Update

Boku, Inc. announced that as of November 28, 2025, the total number of its common shares in issue is 303,388,999, with 6,507,891 shares held in Treasury. This results in a total of 296,881,108 voting rights. This information is crucial for shareholders to determine their notification requirements under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £324.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.

Boku Announces Total Voting Rights and Share Capital Update

Boku, Inc. announced its total voting rights and share capital as of September 30, 2025, with 303,378,582 common shares issued and 296,870,691 voting rights available. This information is crucial for shareholders to determine their notification requirements under the Financial Conduct Authority’s rules, impacting their interest calculations in the company.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £324.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.

Boku Inc. Announces Stock Sale by Key Executive’s Associate

Boku, Inc. announced that Carolina Stannard, associated with Mark Stannard, Chief Business Officer, sold 289,445 shares of the company’s common stock for personal reasons. Following this transaction, Mark Stannard holds a beneficial interest in 100,000 shares, representing 0.1% of the company’s issued share capital. This transaction may have implications for stakeholders as it reflects changes in stock ownership by key personnel.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £324.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.

Boku Inc. Updates on Share Vesting and Voting Rights

Boku Inc. announced the transfer of 39,748 common shares from treasury to satisfy the vesting of restricted stock units. Following this, the company’s total issued share capital consists of 303,332,988 common shares, with 296,807,037 voting rights available. This update is significant for shareholders as it affects the calculation of their interests under the Financial Conduct Authority’s rules.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £324.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.

Boku Inc. Outlines Growth Strategy at Capital Markets Event

Boku Inc. is hosting a Capital Markets Event in London to discuss its strategy and growth opportunities in the local payment methods (LPMs) sector. With LPMs surpassing traditional card payments in global eCommerce transactions, Boku aims to expand its merchant base and enhance its payment infrastructure. The company expects to achieve over 20% organic revenue growth and maintain an EBITDA margin above 30% in the medium term, supported by operational efficiencies.

The most recent analyst rating on (GB:BOKU) stock is a Buy with a £3.00 price target. To see the full list of analyst forecasts on BOKU stock, see the GB:BOKU Stock Forecast page.