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Wider Payments Reach Drives Underlying Growth

Boku reported H122 revenue and adjusted EBITDA in line with its July trading update. During H122, payments made via local payment methods (LPMs) grew significantly y-o-y and, since the end of H1, the company has signed a multi-year contract with Amazon for its LPM services and rolled out eWallets in China for another major merchant. . In Edison Group's view, evidence that strong revenue growth can be sustained will be the main catalyst for the share price, with a growing contribution from LPMs and new major merchants signing up key indicators of progress.

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