CAMBRIDGE, United Kingdom, Sept. 25, 2026 (GLOBE NEWSWIRE) -- Bango (AIM: BGO), the global platform for subscription bundling and payments, today announces its unaudited Interim Results for the six months ended 30 June 2026.
Financial overview (unaudited):
| 1H26 | 1H25 | Change | |
| Revenue | |||
| Payments1 | $13.6M | $14.3M | -5% |
| Subscriptions2 | $12.3M | $10.9M | +13% |
| Total | $25.9M | $25.2M | +3% |
| Adj EBITDA3 | |||
| Payments | $5.8M | $5.7M | +1% |
| Subscriptions | $3.2M | $1.0M | +224% |
| Total | $9.0M | $6.7M | +34% |
| Cash EBITDA4 | |||
| Payments | $4.7M | $4.6M | +$0.1M |
| Subscriptions | ($1.0M) | ($5.3M) | +$4.3M |
| Total | $3.7M | ($0.7M) | +$4.3M |
| Annual Recurring Revenue (ARR)5 | $20.4M | $15.6M | +31% |
| Net Revenue Retention (NRR)6 | 119% | 108% | |
| 30 June 2026 | 31 Dec 2025 | ||
| Net debt7 | $8.7M | $9.2M | -$0.5M |
Highlights
- ARR crossed the $20M milestone, growing to $20.4M, up 31% year-on-year (1H25: $15.6M), driven primarily by expansion within the existing customer base (NRR of 119%).
- ARR at period end increased to 39% of Group revenue for the last twelve months, continuing the transition toward a higher-quality and more predictable revenue mix (1H25: 29%).
- Active subscriptions increased 33% year-on-year to 25.6M, and six new Digital Vending Machine® (DVM) customers were awarded during the period, of which three were contracted by period end.
- Gross margin expanded by 310bps to 87%, reflecting the increasing contribution of higher-margin recurring subscription revenues and continued improvement in Payments revenue quality.
- Group Adjusted EBITDA increased 34% to $9.0M (1H25: $6.7M), driven by strong operating leverage within the Subscriptions segment, where Adjusted EBITDA more than tripled to $3.2M (1H25: $1.0M).
- Group Cash EBITDA improved from a loss of $0.7M in 1H25 to a positive contribution of $3.7M in 1H26 - with the first six months exceeding the total amount generated in the whole of FY25.
- Payments Adjusted EBITDA margin increased to 43% (1H25: 40%) following the planned restructuring of lower-margin, non-core payment routes, further improving profitability and cash generation.
Outlook
- Revenue quality continues to improve; restructuring of non-core payment routes is progressing ahead of plan and is expected to complete this year. The final outcome of the Payments restructuring may result in a low-single-digit variation in reported revenue, with negligible impact on Adjusted EBITDA. Trading for the Group remains in line with full year market expectations8-
- Subscriptions momentum has continued into 2H26 driven by expansion of existing customers. We continue to see exciting opportunities in our pipeline and remain cautiously optimistic despite the continued macroeconomic uncertainty. As of today, there have been eight DVM wins in FY26, with six contracted.
Bango CEO, Paul Larbey, said:
"Bango delivered a strong first half, with Annual Recurring Revenue increasing 31% to $20.4M, Adjusted EBITDA growing 34% to $9.0M and Cash EBITDA improving to $3.7M - exceeding, in six months, the amount generated in the whole of FY25. The combination of growing recurring revenue and the operating efficiencies delivered last year is translating into increasing profitability across the Group. This demonstrates the increasing operating leverage of our business which directly translates into cash EBITDA growth.
The Digital Vending Machine continues to scale as existing customers expand their use of the platform and we win new customers across Telcos and other consumer channels. Net Revenue Retention of 119% underlines the strength of our model: as customers add more subscription services and increase volumes, recurring revenue grows with minimal incremental cost. The opportunity for subscription bundling continues to expand across financial services and other sectors supporting our mission to become the platform of choice for subscription bundling.
We entered the second half with growing recurring revenue, an improving cash generation profile and a clear focus on disciplined execution. The Board remains confident in Bango's growth prospects, underpinned by expansion from within the existing customer base and a strong pipeline of new opportunities."
Investor Presentation:
Bango is hosting a presentation, open to all existing and potential shareholders, at 10.00am BST today. Investors can sign up to Investor Meet Company for free and register to join the call here:
https://www.investormeetcompany.com/bango-plc/register-investor
Notes
1Payments segment revenue comprises Direct Carrier Billing (DCB) and wallets where revenue is derived by charging a percentage of the retail price paid by the consumer and one-off fees.
2Subscriptions segment revenue includes all Digital Vending Machine® (DVM) license and support fees, one-off DVM fees, fees from bundling which are charged as a percentage of the retail price and pre-stocked margin.
3Adjusted EBITDA is earnings before interest, tax, depreciation, amortization, negative goodwill, exceptional items, share of net loss of associate and share based payment charge.
4Cash EBITDA is Adjusted EBITDA less net capital expenditure.
5Annual Recurring Revenue is the expected annual revenues to be generated in the next 12 months based on contracted revenues recognized as at 30 June-
6Net Revenue Retention is a measure of the retention and expansion of revenue from existing customers over the previous 12 months and is calculated by dividing the ARR from existing customers at the end of a period by the ARR generated from those same customers at the beginning of the period.
7Net debt is borrowings less cash- cash equivalents and short-term investments.
8In so far as the Board is aware, as of 24 September 2026, consensus expectations for FY26 were for revenue of $53.8M, Adjusted EBITDA of $19.5M and Cash EBITDA of $8.3M.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No.596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain. The person responsible for making this announcement on behalf of Bango is Paul Larbey, Chief Executive Officer.
Full RNS announcement
View the full Interim Results RNS at: bangoinvestor.com/announcements
About Bango
Bango enables content providers to reach more paying customers through global partnerships. Bango revolutionized the monetization of digital content and services, by opening-up online payments to mobile phone users worldwide. Today, the Digital Vending Machine® is driving the rapid growth of the subscriptions economy, powering choice and control for subscribers.
The world's largest content providers, including Amazon, Google and Microsoft trust Bango technology to reach subscribers everywhere.
Bango, where people subscribe. For more information, visit- www.bangoinvestor.com
Contact
investors@bango.com
