Bango Reports Strong First Half Results

CAMBRIDGE, United Kingdom, Sept. 25, 2026 /CourierPR/ -- Bango, the global platform for subscription bundling and payments, reported strong financial results for the six months ended 30 June 2026. The company's Annual Recurring Revenue (ARR) crossed the $20 million milestone, growing to $20.4 million, up 31% year-on-year from $15.6 million in the first half of 2025. This growth was primarily driven by expansion within the existing customer base, with a Net Revenue Retention (NRR) of 119%.

ARR at the end of the period increased to 39% of Group revenue for the last twelve months, continuing the transition toward a higher-quality and more predictable revenue mix, up from 29% in the first half of 2025. Active subscriptions also increased by 33% year-on-year to 25.6 million, and six new Digital Vending Machine® (DVM) customers were awarded during the period, with three contracts secured by the end of the period.

Gross margin expanded by 310 basis points to 87%, reflecting the increasing contribution of higher-margin recurring subscription revenues and continued improvement in Payments revenue quality. Group Adjusted EBITDA increased by 34% to $9.0 million, driven by strong operating leverage within the Subscriptions segment, where Adjusted EBITDA more than tripled to $3.2 million, up from $1.0 million in the first half of 2025. Group Cash EBITDA improved from a loss of $0.7 million in the first half of 2025 to a positive contribution of $3.7 million in the first half of 2026, exceeding the total amount generated in the entire fiscal year 2025.

Payments Adjusted EBITDA margin increased to 43%, up from 40% in the first half of 2025, following the planned restructuring of lower-margin, non-core payment routes. This restructuring is expected to complete this year, with the final outcome potentially resulting in a low-single-digit variation in reported revenue, with negligible impact on Adjusted EBITDA. Trading for the Group remains in line with full-year market expectations.

The Digital Vending Machine continues to scale as existing customers expand their use of the platform, and Bango has won eight DVM contracts in fiscal year 2026, with six of those contracts secured by the end of the period.

Bango is hosting an investor presentation, open to all existing and potential shareholders, at 10:00am BST today. Investors can sign up to Investor Meet Company for free and register to join the call at www.investormeetcompany.com/bango-plc/register-investor. As of 24 September 2026, consensus expectations for fiscal year 2026 were for revenue of $53.8 million, Adjusted EBITDA of $19.5 million, and Cash EBITDA of $8.3 million.