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Boku Inc.

Boku Inc 2017 revenues exceed $24m – up 40% on 2016

Boku Inc (LON:BOKU), the world’s leading independent direct carrier billing company, has today provided the following unaudited trading update for the year ended 31 December 2017. This is the Company’s first Trading Update since Admission to AIM in November 2017.

The Group saw continued growth in all key metrics during 2017:

· Revenue for FY 2017 is expected to be in the range $24-24.5 million, an increase of approximately 40% over 2016 ($17.2 million)

· Adjusted EBITDA* is expected to be positive for H2 2017, a major milestone for the company

· Total Processed Value (TPV)** of $1.7bn for 2017 was more than triple the 2016 amount of $554 million thanks to continued growth across all customer segments – most notably App Stores and Digital Music Subscriptions & Bundling

· Monthly active users of the Boku platform exceeded 8 million in December 2017, a 140% increase over the same period in 2016, demonstrating that Boku continues to provide an effective way for digital merchants and platforms to acquire new paying customers

· The company held approximately $20m in cash at the end of 2017

* Adjusted EBITDA excludes costs relating to the IPO, Restructuring Costs, Stock related expenses and FX Gains/Losses

** TPV is the $ value of transactions processed by the Boku platform

Jon Prideaux, Boku Inc CEO, commented: “2017 was a pivotal year for Boku. By tripling our TPV, increasing our revenue by 40% and having positive adjusted EBITDA for the entire second half we have helped our customers to acquire millions of extra paying users and laid the foundations for further growth. 2017 also encompassed our successful Admission to AIM, which has enabled us to accelerate our growth plans.

“We’re seeing the benefits of scale playing through: by processing more volume, Boku can both have a lower unit cost and support a cost base that allows us to deliver a wider array of products and services to our customers.

“We remain focused on growth: we will roll out our existing customers and products into new territories and develop new services, leveraging our core carrier integration capabilities, in the areas of location, authentication and identity.”