- Mobile payment company Boku upgraded its forecast on annual performance following strong first-half growth, amid strong growth in its identity and payments divisions.

'Group revenue and adjusted EBITDA for the full year expected to be ahead of expectations,' the company said.

For the six months ended 30 June 2021, adjusted earnings before interest, taxation, depreciation and amortization, are expected to be at least $9.6 million, an increase of 50% year-on-year, and revenues are expected to be at least $34.0m, an increase of 37% year-on-year.

'Our Identity division performed strongly returning to growth with revenues up 30% in the first half and further reduced EBITDA losses,' the company said.

'We are particularly encouraged by the growth in revenues from new products to new customers, primarily in Asia, as we expand the business away from its US base. As a result we expect the Identity business to show increased revenues and further reduced losses for the full year, it added.

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