UK's Boku H1 revenue rises 11% on underlying basis amid delayed merchant launches

By Reuters News


Overview

  • UK payment network operator's H1 2026 revenue grew 11% on underlying basis, led by Bundling

  • Adjusted EBITDA rose 7% on underlying basis; growth impacted by delayed merchant launches

  • Company repurchased $23.6 mln in shares and extended buyback authority


Outlook

  • Boku expects 2026 revenue of $135-142 mln

  • Company sees 2026 adjusted EBITDA of $38-42 mln

  • Company does not expect blended take rate to reduce further in H2 2026


Result Drivers

  • DELAYED MERCHANT LAUNCHES - Revenue growth was impacted by delays to launches for a key merchant and a small number of other merchants, with anticipated volume gains pushed from H1 into H2

  • SUSPENDED CONNECTIONS - Two direct carrier billing connections were suspended by local authorities in one country, reducing revenue base

  • SHIFT TO LOWER TAKE-RATE PRODUCTS - Growth in the half was weighted towards lower take-rate products including Bundling, contributing to a reduced blended take rate


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

$66.50 mln

$68.25 mln (2 Analysts)

H1 Adjusted EBITDA

$19.60 mln

$20.15 mln (2 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the business support services peer group is "buy"

  • Wall Street's median 12-month price target for Boku Inc is GBp195.00, about 58.5% above its September 22 closing price of GBp123.00

  • The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 18 three months ago


Reuters Recommended Reads

  • Sept 22 - Payments firm Fonix Mobile's FY26 gross profit rises, aided by Portugal market strength

  • Sept 22 - UK's Yu Group H1 revenue rises 19% on higher volumes

  • Sept 22 - Kingfisher H1 profit rises, lifts annual adjusted PBT forecast


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.