Bango (LSE:BGO) reported revenue of $25.9 million for the six months ended 30 June 2026, an increase of 3% from the corresponding period a year earlier.
Subscriptions revenue increased 13% to $12.3 million, while Payments revenue declined 5% to $13.6 million. Bango said the reduction in Payments revenue reflected its planned restructuring and exit from lower-margin payment routes.
Group gross margin increased to 87%, reflecting a greater contribution from subscription revenue.
Annual Recurring Revenue Increases 31%
Annual Recurring Revenue reached $20.4 million at the end of the period, up 31% year-on-year. Bango said recurring revenue represented 39% of group revenue on a trailing 12-month basis.
Net Revenue Retention was 119%, while the number of active subscriptions increased 33% to 25.6 million.
The company added six new Digital Vending Machine® customers during the first half.
Adjusted EBITDA Rises to $9.0 Million
Group Adjusted EBITDA increased 34% to $9.0 million.
Cash EBITDA was $3.7 million, compared with a $0.7 million loss in the first half of 2025. The company said first-half Cash EBITDA was also higher than the amount generated during the whole of the 2025 financial year.
Within the Payments business, Adjusted EBITDA margin increased to 43% following the removal of non-core, lower-margin payment routes.
Payments Restructuring Expected to Finish in 2026
Bango said the restructuring of its non-core Payments activities is progressing ahead of its original plan and is expected to be completed during 2026.
The company expects the remaining changes to have a low-single-digit impact on reported revenue and a negligible effect on Adjusted EBITDA.
Bango said subscription activity has continued into the second half, supported by expansion among existing customers and its pipeline of potential new business.
The board said trading remains in line with full-year market expectations.
About Bango
Bango PLC is a Cambridge-based technology company providing subscription bundling and digital payment services.
Its Digital Vending Machine® platform enables telecom operators, financial services companies and other distribution channels to offer subscription services to customers.
The group operates through Subscriptions and Payments activities, with the latter including carrier billing and digital wallet services.
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