FY17A Results: Growth and scalability
Bango has announced FY17A results ahead of our forecasts, with financial performance once again demonstrating strong growth and platform scalability. Momentum remained strong during the year, with End User Spend (EUS) confirmed as having more than doubled but opex having grown by just 13%. The positive outlook statement will give confidence in the near-term financial performance. Our FY18E adjusted earnings estimates are unchanged following the release and FY19E forecasts are introduced for the first time.