Boku (AIM: BOKU), a mobile payment solution provider, has announced the decision of Jon Prideaux to retire from the role of Chief Executive Officer at the end of 2023 after leading the company for more than five years. The company has already appointed Stuart Neal as the CEO Designate to replace Prideaux.
Announced today (Tuesday), Neal will also join Boku’s board on 1 January 2024 and will closely work with Prideaux until then for a smooth transition of responsibilities. Following his retirement, Prideaux will continue to sit on Boku’s board in a non-executive capacity.
“I will be looking to draw on my own experience of bringing new payment technologies to market over the past 18 years, working closely with Boku’s world-class management team, to capitalize on the market-leading position that we humbly command,” Neal said.
Neal is not new to Boku. He was the company’s Chief Financial Officer between 2012 and 2014 and again between 2017 and 2019. He also took the company through its public listing and was later appointed Chief Business Officer of Boku’s Identity division. He also held executive roles in other payments companies, including Vocalink PaybyBankapp (acquired by Mastercard) and Barclaycard.
Growth Continues
In a simultaneous trading update, Boku also revealed its estimated financials for the first six months of 2023. The London-listed company expects its revenue for the period to be at least $37.5 million, 24 percent higher than the same period of the previous year. Revenue from its new Local Payment Methods, including eWallets and Account to Account payments, jumped by 359 percent to about $7.2 million.
The adjusted EBITDA of the company is expected to be 25 percent higher year-over-year at $12 million. With these numbers, Boku expects to cross its full-year revenue and EBITDA expectations.
Apart from the financials, the other KPIs of the company also strengthened significantly. The number of its monthly active users increased by 32 percent to 61.2 million, while 32.7 million customers made their first payment.
Further, the total payment volume on the platform also jumped by 15 percent to $5 billion.
“The strong end to 2022 has continued into the first half of 2023, and we now expect both revenues and EBITDA to exceed the Board’s prior expectations for the full year,” said CEO Prideaux. “As I transition from CEO to being a Non-executive Director, I look forward with considerable confidence to the remainder of this year and beyond.”
Boku (AIM: BOKU), a mobile payment solution provider, has announced the decision of Jon Prideaux to retire from the role of Chief Executive Officer at the end of 2023 after leading the company for more than five years. The company has already appointed Stuart Neal as the CEO Designate to replace Prideaux.
Announced today (Tuesday), Neal will also join Boku’s board on 1 January 2024 and will closely work with Prideaux until then for a smooth transition of responsibilities. Following his retirement, Prideaux will continue to sit on Boku’s board in a non-executive capacity.
“I will be looking to draw on my own experience of bringing new payment technologies to market over the past 18 years, working closely with Boku’s world-class management team, to capitalize on the market-leading position that we humbly command,” Neal said.
Neal is not new to Boku. He was the company’s Chief Financial Officer between 2012 and 2014 and again between 2017 and 2019. He also took the company through its public listing and was later appointed Chief Business Officer of Boku’s Identity division. He also held executive roles in other payments companies, including Vocalink PaybyBankapp (acquired by Mastercard) and Barclaycard.
Growth Continues
In a simultaneous trading update, Boku also revealed its estimated financials for the first six months of 2023. The London-listed company expects its revenue for the period to be at least $37.5 million, 24 percent higher than the same period of the previous year. Revenue from its new Local Payment Methods, including eWallets and Account to Account payments, jumped by 359 percent to about $7.2 million.
The adjusted EBITDA of the company is expected to be 25 percent higher year-over-year at $12 million. With these numbers, Boku expects to cross its full-year revenue and EBITDA expectations.
Apart from the financials, the other KPIs of the company also strengthened significantly. The number of its monthly active users increased by 32 percent to 61.2 million, while 32.7 million customers made their first payment.
Further, the total payment volume on the platform also jumped by 15 percent to $5 billion.
“The strong end to 2022 has continued into the first half of 2023, and we now expect both revenues and EBITDA to exceed the Board’s prior expectations for the full year,” said CEO Prideaux. “As I transition from CEO to being a Non-executive Director, I look forward with considerable confidence to the remainder of this year and beyond.”
