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(Sharecast News) - Boku shares were sliding on Wednesday, even after it said first-half revenue rose about 11% on an underlying basis to $66.5m, while adjusted EBITDA increased to about $19.3m, giving a margin of about 29%.
Total payment volume rose around 12% to $8.3bn, and the company said it had signed its first contract with a major global payment service provider, Stripe, with two merchants already live and transacting.
The AIM-traded company cut full-year guidance after delays to new connections and merchant onboarding, alongside the impact of a key merchant moving to dual sourcing in one market and the suspension of two direct carrier billing connections in another.
Boku now expects 2026 revenue of $135m to $142m and adjusted EBITDA of $38m to $42m, below previous market expectations.
Chief executive Stuart Neal said the first half had seen "significant strategic progress" but that specific factors had "contributed to slowed revenue growth."
At 1207 BST, shares in Boku were down 31.9% at 95p.
Reporting by Josh White for Sharecast.com.
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