Overview

• UK payments platform's H1 2026 revenue rose 11% yr/yr to $66.5 mln

• Adjusted EBITDA for H1 2026 grew to $19.3 mln, margin at 29%

• Company repurchased 9.6 mln shares for $23.5 mln, plans further buyback extension

Outlook

• Boku says it expects FY26 revenue between $135 mln and $142 mln, below market consensus

• Company sees FY26 adjusted EBITDA at $38 mln to $42 mln

• Boku says delays in new connections and merchant onboarding are impacting FY26 performance

Result Drivers

• LAUNCH DELAYS - Co said delays to new connections and slower merchant onboarding contributed to slowed revenue growth

• DUAL SOURCING IMPACT - A key merchant's move to dual sourcing reduced Boku's share of volume in one market, expected to be offset by traffic in new markets

• COST EFFICIENCY - Investments in back office systems delivered cost efficiencies, supporting EBITDA margin

Company press release: ID:nRSH4839La

Key Details

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 GBp300.00, about 115.1% above its July 7 closing price of GBp139.50

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 19 three months ago

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