Report
Richard Williamson

Boku - Simplifying mobile commerce

Boku’s FY21 results reflect continued strong momentum in the Payments business and improved performance in the since-sold Identity business. Local payment methods added to the Boku network over the last three years showed an accelerating contribution to monthly active user (MAU) numbers, increasing ninefold over 2021, and made up nearly 10% of new users in the year. We have revised our forecasts to remove revenue from Russian carriers and estimate an EPS CAGR of 13.7% over FY21 –24e.
Underlying
BOKU INC.

Boku is a holding company. Through its subsidiaries, Co. is engaged in the provision of mobile billing and payment solutions for mobile network operators and merchants. These solutions enable consumers to make online payments using their mobile devices. Co.'s offerings include: Boku Checkout, which is integrated into the billing system of operators allowing merchants to accept payments from mobile phone; Boku Account, which allows a phone number to be stored on file and for merchants to make charges without the consumer having to re-enter payment details on subsequent purchases; and Boku Acquire, which is a tool to support carrier bundling programs.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Richard Williamson

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