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Recently published FY2024 results for Bango showed a business benefiting from scaling its platform offer – see Bango delivers strong FY24 with Digital Vending Machine growth. This morning’s H1 trading update from the Cambridge-based e-commerce platform provider reinforces this narrative with H1 2025 results suggesting that the Digital Vending Machine (DVM) platform is achieving meaningful scale, with active subscriptions doubling to 19.2m YoY. Momentum drove 21% Annual Recurring Revenue growth to $15.6m and Adjusted EBITDA up of over 60% to $6.5m.
The company secured seven new DVM customers in H1 with notable geographic expansion into South Korea, Japan, and India. Six of the top eight US telcos now use the platform, while Sirius XM's adoption for direct-to-consumer bundling suggests DVM's broader market opportunities.
While total revenue growth of 5% appears modest, the 15% increase in higher-margin DVM revenue and strong Net Revenue Retention of 108% indicate healthy fundamentals. The launch of an integrated Super Bundling platform with 116 content providers also positions Bango for continued expansion in the subscription space.
Posted by: Marc Hardwick at 09:39
Tags:
ecommerce
telco
trading update