Boku, Inc., a global mobile payment solutions provider, has released its unaudited trading update for the financial year ended 31 December 2023. The company reported a significant increase in revenues, with expectations of at least $82.7 million, representing a 30% growth from the previous year. The growth was primarily driven by increasing transaction volumes from major global merchants and a 153% increase in revenues from Local Payment Methods (LPMs). Adjusted EBITDA is expected to be at least $27.3 million, up 33% from 2022, and the company's total cash balance at year-end was $151.2 million, with no outstanding debt.
The operational highlights include a 29% increase in Monthly Active Users (MAUs) of the Boku platform, reaching 67.4 million in December 2023. Additionally, the Total Payment Volume (TPV) for 2023 was $10.5 billion, up 19% from the previous year. The company also noted particularly strong growth in LPMs, with a 76% increase in MAUs and a 64% increase in new users in 2023. Boku's Take rate increased to 0.79% in 2023, driven by higher take rates from LPMs.
Stuart Neal, the CEO of Boku, expressed his satisfaction with the company's performance, stating, "It is very pleasing to be picking up the reins at Boku with the Company experiencing such incredible momentum." He highlighted the increasing significance of LPMs in the company's revenues and expressed confidence in the company's strategy for the future. The company's board expects the 2023 full-year results to be slightly ahead of previous market guidance, with renewed confidence in their medium-term aspirations.
Boku, Inc. also provided information about its financial structure, operational metrics, and leadership changes. The company's strong financial and operational performance in 2023, along with its positive outlook for the future, reflects its continued success in the global mobile payment solutions market.