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FY24 results out this morning from Cambridge-based e-commerce platform provider Bango, appear to validate its move toward subscription bundling infrastructure, with its Digital Vending Machine (DVM) platform gaining ground among major telcos whilst cost management drives improving profitability—positioning the company well to capitalise on a structural shift toward indirect content distribution.
Bango reported strong FY24 results with 16% revenue growth to $53.4m and 139% adjusted EBITDA improvement to $15.3m, as its DVM platform scales. The standout metric was 59% ARR growth to $14.0m, reflecting the subscription bundling platform's increasing market penetration.
The DVM business added nine new customers in 2024, with post-period momentum accelerating including six new wins in 2025 with a breakthrough South Korean telco and expanded US presence where it serves six of the top eight communication providers. This positions Bango at the centre of the "super bundling" trend as content providers increasingly rely on indirect distribution.
However, challenges remain in its Payments division, where DOCOMO Digital integration issues created volatility in high-cost routes, though core transactional revenue performed in-line with expectations.
The secured financing ($15m from NatWest) should provide balance sheet flexibility while efficiency initiatives target modest EBITDA improvements. Bango appears well-positioned for the subscription economy's structural growth, with platform scalability offering significant potential as customer adoption accelerates.
Posted by: Marc Hardwick at 09:18
Tags:
results
ecommerce
telco