Share Name Share Symbol Market Type Share ISIN Share Description
Bango Plc LSE:BGO London Ordinary Share GB00B0BRN552 ORD 20P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 167.50 22,642 08:00:01
Bid Price Offer Price High Price Low Price Open Price
165.00 170.00 167.50 167.50 167.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 12.17 0.61 6.37 26.3 127
Last Trade Time Trade Type Trade Size Trade Price Currency
14:53:41 O 5,000 165.00 GBX

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Bango Daily Update: Bango Plc is listed in the Software & Computer Services sector of the London Stock Exchange with ticker BGO. The last closing price for Bango was 167.50p.
Bango Plc has a 4 week average price of 126.50p and a 12 week average price of 126.50p.
The 1 year high share price is 229p while the 1 year low share price is currently 126.50p.
There are currently 75,867,640 shares in issue and the average daily traded volume is 107,670 shares. The market capitalisation of Bango Plc is £127,078,297.
amt: Great posts, please can you remind me of Simon's price target ? If this news had come through a year ago the share price I suspect would have shot through 3 quid. I think there are a few investors out there who have not been convinced and so the share price tends to fall on any excuse. Its great though since it gives the opportunity to pick up a bargain. Anyway it's a great reliable longterm investment and as an AIM stock might be inheritance tax free after 2 years.
aleman: There has been only 8 trades in the US since it was launched. I wonder if there was some Apple requirement for some reason to get this deal completed. (The platform licensing deals take many months to set up.) 1 March 2022 BANGO PLC ("Bango") Bango commences trading on OTCQX Best Market in the United States Bango (AIM: BGO; OTCQX: BGOPF), the global platform for data-driven commerce , announces that it begins trading today in the United States on OTC Markets Group's OTCQX Best Market ("OTCQX"), under the ticker symbol "BGOPF". Bango's ordinary shares of 20 pence each ("Ordinary Shares") will continue to trade on the AIM market of the London Stock Exchange plc ("AIM") under the symbol "BGO". In December 2021, Bango announced a change to its presentational currency to US Dollars to reflect the growing proportion of business Bango is conducting in the United States and to increase the appeal of Bango shares to a global investor audience. Trading on OTCQX will further increase the visibility and accessibility of Bango to North American investors. OTCQX supports more transparent quotation and trading of Bango Ordinary Shares in US Dollars during trading hours in the United States, allowing easier access for investors who prefer securities that trade domestically in US Dollars. Cross-trading on OTCQX is expected to widen Bango's investor base and has the potential to increase liquidity in Bango's Ordinary Shares on AIM. This action is not a capital raise, no new Ordinary Shares will be issued, and Bango will continue to trade on AIM under the ticker symbol "BGO". Paul Larbey, CEO of Bango, said: " To meet the increased interest from US institutional and retail investors, we have taken the decision to launch on OTCQX. The success of our payments business - particularly the recurring revenues generated by our platform product - as well as in our unique purchase behavior targeting technology, positions Bango strongly for continuing growth across our markets. I am pleased that US investors can now more easily participate in the Bango growth story. "
aleman: Think like an advertiser that wants to find the most likely mobile buyers, get them to purchase and then come back and buy again and buy other products. Who has the biggest payments channels with the most relevant data and could benefit from bundled promotions or multibuy discounts? Stores have payment relationships and store cards and loyalty schemes. How about the world's biggest retailers? Are they potential allies or competitors? Big stores will manage it all themselves, I suppose. BGO might have a future offering lots of independents payments and purchasing insights. There is huge competition in that space, though. We are looking at big companies but I reckon there is a future in going granular. Imagine a deal to manage a platform license for a global football club brand and working your way down the pyramid and around the world until you are managing payments and offers for all the small clubs. That's quite a market but admin intensity increases as you get smaller. It's currently a hotch potch of credit/debit card data and clubs trying to organise loyalty points on their own. I'm surprised we don't have credit card companies sniffing around BGO to help monetise such data but they don't know who will come to dominate. Maybe more shakeout is needed. Maybe they're developing their own offerings? I keep comparing to EYE who analyse purchases and offer mobile coupons,vouchers, promotions, etc for big retailers. BGO is experimenting in their space. I reckon BGO could do EYE's job but I doubt EYE could do BGO's. Rather than competing, I could see a potential merger there but with BGO dominant. At the moment, EYE is on a higher rating for some reason. BOKU looks to need a deal. Payments is getting close to a loss leader to gather data. They have cash and need to find someone who can generate margin with the data they are generating. BGO is more dynamic and already in the promotions space with bundling expanding quickly on very fat margins. BOKU needs to find a similar niche. They might benefit from a tie-up with EYE but I suspect there'd be more of a culture clash. I could be reading it all wrong though. These are just my meanderings. Feel free to add, comment or criticise. It's an exciting space and looks pretty unpredictable, especially with regulation and legislation buffetting everyone at the moment.
aleman: Trouble is that the 3 brokers covering BGO seem to have no clout. Every time they update, we don't see any buying. EYE are going up again. There is no way BGO is worth less than EYE on current forecasts. I have to question the valuation in comparison to BOKU as well. BGO look much cheaper than both. It just feels like the market does not understand this business. Why did it chase the shares higher when it was loss making and now ignores it when it has cash coming out of its ears and contracts that look likely to see that increase at a very healthy pace? (With relatively fixed overheads on the existing platform, the throughput from the contract announced today is likely to generate a 95% margin.) Just what are they planning to do with all the cash? I think it would help if they gave some indication of how they intend to benefit shareholders with it.
aleman: This will probably affect BGO very slightly but only at margins. It's probably pretty tiny in numerical terms so far. North America is less than 20% of the global DCB market and growing more slowly than the other 4 global regions. Two US carrier billing utilities removing one access route to merchants - even though it's a big route - will be pretty small beer overall, especially as BGO is now managing other payments besides DCB. BGO are not just DCB any more and DCB margins are tiny anyway. It could affect less than 1% of the DCB business and that business might find other routes to market with Bango payments. I'm not even sure it will lose DCB revenue, and the new drivers of subscription bundling and Audiences revenues are based on other payment methods, too. The question is what is going on strategically in the marketplace that led to the announcements. With no reasons as to why these decisions were taken, it creates uncertainty. Unless anyone can give me further information, I see no immediate effect - but will there be more similar announcements and, if so, why? For all we know, BGO might end up benefitting from this somehow, like they seem to be doing with the new privacy protocols.
aleman: I suppose the significantly weak £ will increase the sterling value of US $ results if they are close to forecast . EBITDA is predicted to go from $6.2m to $16.9m between 2021 and 2024.The fall from an average £=$1.37 in 2021 to £=$1.20 now can't be seen in the share price. Maybe the market assumes it will recover? BGO must have £9-10m cash and rising at the moment. (It was $9.7m at year end 21.) free stock charts from
aleman: You'll note that BGO would trade around 380p if it traded on similar multiples to mobile marketing company, EYE. Why is there such a big difference? EYE recently had its forecasts revised up slightly. 2024 EBITDA was raised from $7.5m to $8.1m - so very nearly doubling over 3 years - but that still less than half the BGO forecast which doubles over only 2 years. EYE's market cap is 20% higher than BGO's at £146m. If BGO is double earnings and growing faster maybe it should be on higher multiples than EYE to be comparable? That would take it over 400p. BGO also has more cash.
aleman: Markets have been falling on inflation worries yet I reckon that could help BGO rather than hinder. EYE is in mobile vouchers (so revenue payment related) and could similarly benefit from inflation and they've just announced they expect to beat revenue forecasts by 7% and EBITDA by 10%. The two companies have the same market cap yet forecasts were for EYE to go from £4.2m to £7.5m EBITDA (this forecast will probably get revised up a little) between 2021 and 2024 while BGO is predicted to go from £4.7m to £13.2m. BGO also have more cash. BGO look better value. I've topped up. AGM is next Wednesday. Maybe we'll get news.
aleman: Boku transactional revenue rose 18% on the year but seems to be slowing since they were +20.8% at the interims. EBITDA fell from $10.3m in H1 to $9.7m in H2. Users rose only 13%. It's numbers seem to be a bit slower than market growth. Momentum is waning. Commentary is underwhelmingly about a good year rather than a great H2 and there is nothing about new revenue streams. Given BGO is taking market share, then somebody has to los. All BGO has been talking about recently is the exciting and rapidly-growing new revenue streams. Transactional revenue hardly gets a mention. Boku's market cap is £500m at 170p and it has about £45m of cash, soon to be about £65m after divesting its modestly loss making identity division. BGO's market cap is £145m at 191p with £7m cash. With transactional margins being squeezed, revenue growth slowing and Boku being 100% transactional, I can see Boku's market cap treading water or falling. BGO's transactional margins are also falling but EUS is so strong that their transactional revenues were still up 40%. (I expect margins here to squeeze further to BGO's tactical advantage. BGO's EUS market share could match Boku's in 2 or 3 years.) With EUS growing at least 3 times as fast as BOKU and transactional revenues growing at least twice as fast, and - most importantly - non-transactional revenues more than trebling in a year at the interims to 1/4 of the total, I believe BGO's valuation gap with Boku will close. I can imagine BGO's market cap overtaking BOKU in maybe 3 years. That's just my take on the obvious differences in momentum between the two companies. Please do your own research. There will be much more information to go at in March when they've both reported final results. Analysts will then write up the numbers in full but I think you can see now that Bango is still doing very well with diversifying revenue streams while Boku is having trouble with slowing growth and margin squeeze in its only market.
a1canary: EQLS looks an interesting player in the payments space. In fact it looks similar to BGO in terms of fundamentals, inc. company valuation (117m vs 137m for BGO). It's an interesting exercise to compare the two's fundamentals given they are in the same sector and that the market values them similarly. EQLS has a big advantage in terms of revenue and is also highly cash generative like BGO but with double the cash pile. However, again like BGO in the past, it's all about turning that revenue into profit. BGO is clearly further along this path, with EQLS on a 7.7 and 8.6m loss in the last two years respectively. And by most other measures including operating profit, margins, NAV, debt/liabilities, BGO fairs considerably better. Overall, despite the tasty revenue numbers, BGO looks better value to me atm. But the market is clearly placing value on that revenue in this instance. What's your take QS99 of why EQLS is still making 7-9m losses on well over twice the revenue of BGO? I notice nearly all their RNS announcements only talk about the revenue! Bit like BGO's in the past only focusing on EUS!
Bango share price data is direct from the London Stock Exchange
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