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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 2026 Interim Results 23 September 2026 For the half year ended 3 0 June 2026
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Forward Looking Statements Certain statements contained in this report constitute "forward-looking statements." Forward-looking statements provide Boku’s current expectations of future events and trends based on certain assumptions and include any statement that does not directly relate to any current or historical fact. The words “believe,” “expect,” “expectations,” “anticipate,” “foresee,” “see,” “target,” “estimate,” “designed,” “aim,” “plan,” “intend,” “influence,” “assumption,” “focus,” “continue,” “project,” “should," "is to," "will,” "strive," "may,” "could,” “forecast,” or similar expressions as they relate to us or our management are intended to identify these forward looking statements, as well as statements regarding: a) business strategies, projects, market expansion, growth management, and future industry trends and megatrends and our plans to address them; b) future performance of our businesses and any future distributions and dividends; c) expectations and targets regarding financial performance, results, operating expenses, cash flows, taxes, currency exchange rates, hedging, cost savings and competitiveness, as well as results of operations including targeted synergies and those related to market share, prices, netsales, income and margins; d) expectations, plans, timelines or benefits related to changes in our organisationaland operational structure; e) market developments in our current and future markets and their seasonality and cyclicality, including the communications service provider market, as well as general economic conditions, future regulatory developments and the expected impact, timing and duration of potential global pandemics and geopolitical conflicts on our businesses, our supply chain, our customers’ businesses and the general market and economic conditions; f) our position in the market, including product portfolio and geographical reach, and our ability to use the same to develop the relevant business or market and maintain our order pipeline over time; g) any future collaboration or business collaboration agreements or patent license agreements or arbitration awards, including income from any collaboration or partnership, agreement or award; h) timing of the development and delivery of our products and services; i) the outcome of pending and threatened litigation, arbitration, disputes, regulatory proceedings or investigations by authorities; j) restructurings, investments, capital structure optimisationefforts, divestments and our ability to achieve the financial and operational targets set in connection with any such restructurings, investments, and capital structure optimisationefforts including our ongoing cost savings program; k) future capital expenditures, temporary incremental expenditures or other R&D expenditures to develop or rollout new products;and l) sustainability and corporate responsibility. These statements are based on management’s best assumptions and beliefs in light ofthe information currently available to it and are subject to a number ofrisks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such statements. These statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Risks and uncertainties that could affect these statements include but are not limited to the risk factors specified under the section “Risk factors” in the annual report. Other unknown or unpredictable factors or underlying assumptions subsequently proven to be incorrect could cause actual results to differ materially from those in the forward-looking statements. We do not undertake any obligation to publicly update or revise forward-looking statements, whether as a result ofnew information, future events or otherwise, except to the extent legally required. 2026 Interim Results 2
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 2026 Interim Results 3 Stuart Neal, CEO Rob Whittick, CFO © 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Significant strategic progress and resilient financial performance
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Significant strategic progress and resilient financial performance 4 • Underlying growth maintained across all three product lines • Continued revenue diversification • Margin of ~29%, reflecting prior years investments in operational efficiency • Strong balance sheet with ~$85m of own cash and no debt • Increase in cross - border settlement volumes of ~9% • Delays to new market launches in H1 for a single merchant meant the anticipated impact of their dual sourcing in another market was not offset in the period. These market launches have now gone live in H2 • Two DCB connections suspended in one country • Delays to a small number of other merchant launches • 3 - year CAGR to Dec 2026 expected to be 18 - 20%, based on FY26 guidance range of $135m - 142m 11% underlying revenue growth & ~29% adjusted EBITDA Margin 2026 Interim Results • First channel partnership signed with Stripe, with merchants already live on the Boku network • 10 new LPMs added to the network • 47 new connections delivered for existing merchants as well as first direct sales merchants • Bundling revenue up 39%, the platform helped merchants serve 51 million subscribers • Expanded money movement infrastructure into key MEA markets Significant strategic progress H1 2026 impacted by three factors
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Structural shift to LPMs • LPMs expected to be ~60% of global eCommerce transaction value by 2028 and are already over 50% 1 • c.$11trn market opportunity by 2028 1 • Well positioned to benefit from rapid consumer adoption of LPMs with ~37% of all consumers globally actively using LPMs by 2028 1 Significant growth potential • Significant growth of addressable merchant base with the launch of our channel model • Direct sales team largely built out and gaining momentum with the first direct sales merchants going live across target sectors including streaming, entertainment and mobility • Growing A2A & Wallets and Bundling products (now 47 % of Group revenue) as we continue to diversify • Investing in AI, automation and emerging payment technologies to enable improved merchant/partner support and operational leverage Unique global LPM network trusted by global merchants • Single integration to over 200 LPMs with licences and registrations across more than 40 markets • Platform spanning payments, bundling, currency conversion and money movement • Hard to replicate license footprint and banking & liquidity infrastructure to support merchants’ global expansion through cross border payment flows • Continue to be trusted by the world's most sophisticated global technology companies 5 Remain well positioned for a compelling market opportunity Boku has an extensive and growing network of LPMs Launched our channel strategy and signed first partner Providing merchants global access to consumers 2026 Interim Results 1 Boku & Juniper Research, 2024. 2024 Global Ecommerce Report.
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Financial Highlights 6 Rob Whittick, CFO 2026 Interim Results
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 7 H1 2026 performance: Headline and underlying metrics Underlying metrics exclude $3.4m of launch phase pricing in H1 2025 Note: All metrics vs. H1’25 except for Own Cash (vs. 31 Dec 2025) *Underlying basis, excluding H1 2025 Launch Phase Pricing of $3.4m **CER = Constant Exchange Rate 2026 Interim Results Headline - 10% $102.9m (FY 2025) +16% ( +16% CER**) $23.6m H1 2026 share buyback Adjusted EBITDA Adjusted EBITDA Margin Blended Take Rate Own Cash $66.5m Headline +5% (+4% CER**) Underlying* +11% ( +10% CER**) Revenue $19.6m Underlying* +7% 29.4% Headline - 4.9pp Underlying* - 1.2pp TPV $8.6bn 77bps Headline - 8bps Underlying* - 4bps $84.6m
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. • TPV up 16% on H1 2025 (+16% increase on a CER basis) • 10 new LPMs added to the network in the period • 47 new payment connections delivered for new and existing merchants across 24 markets, including our first direct sales merchants • The bundling platform helped merchants serve 51 million subscribers during the period , a 21% increase . • TPV growth delivered despite a ~$ 2 00 m one - off volume headwind related to dual sourcing and DCB connection suspension • Our blended take rate was 77bps on an underlying basis (H1 2025 underlying: 81bps), with growth in the half weighted towards lower - rate products including Bundling. With a number of our H2 launches now live in markets that combine large, fast - growing LPM volumes with currency conversion opportunities, we do not expect take rate to reduce further in the second half. • Future revenue growth will continue to be driven by volume expansion, with blended take rates expected to trend down gradually over time as volume - based discounts increase and as lower take - rate products grow Continuing to scale the network for our merchants Total Payment Volume (TPV) ($ billions) 2026 Interim Results +16% +16% CER Growth continues with new and existing merchants 8 5.0 5.8 7.4 8.6 H1 2023 H1 2024 H1 2025 H1 2026
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Revenue base continues to grow and diversify 2026 Interim Results • Group revenue of $66.5m, up 11% on an underlying basis (+10% CER), excluding $3.4m launch - phase pricing in H1 2025. Headline growth +5% (+4% CER), reflecting three isolated first - half factors • Direct Carrier Billing $35.3m, +3% (53% of revenue): • Demand from existing and new merchants continues • Two connections suspended in a single country with no further exposures in that country • Digital Wallets & A2A $22.0m, +15% underlying (33% of revenue): • APAC and MEA wallets were key drivers of underlying growth • Delays to new market launches in H1 for a single merchant meant the anticipated impact of their dual sourcing in another market was not offset in the period. • All of these markets are now live and contributing in the second half • We expect to be a net beneficiary of this merchant’s dual - sourcing policy • First PIX (Brazil) and UPI (India) transactions live • Bundling $9.2m, +39% (14% of revenue): • Combining our tokenised recurring - payments product with Bundling is helping merchants acquire and retain subscribers Revenue ($ millions) +11%* +10% CER *Underlying basis, excluding H1 2025 Launch Phase Pricing 25% 28% 32% 32% 33% 9% 10% 11% 13% 14% H1 2024 H2 2024 H1 2025* H2 2025 H1 2026 DCB Digital Wallets & A2A Bundling 47.3 52.1 59.9 65.5 66.5 H1 2024 H2 2024 H1 2025* H2 2025 H1 2026 Revenue growth by product Revenue Split ($ millions) 9
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Prior years investments in the platform benefitting EBITDA • Adjusted EBITDA of $19.6m, +7% on an underlying basis (H1 2025 underlying: $18.4m), at a 29.4% margin (H1 2025 underlying: 30.6%) • Prior years investments in operational efficiency partially mitigated the impact of revenue headwinds on adjusted EBITDA • Having invested in our workforce during 2024 and 2025, the benefits of our transformation initiatives are now allowing us to absorb continued business growth without the associated headcount growth. Headcount increased by 7% compared to June 2025 and has reduced 1% compared to 31 December 2025. • Operating profit of $4.8m (H1 2025: $11.9m; underlying $8.5m) • Share - based payment charges comprising awards to all employees and performance - based awards for senior management • Depreciation and amortisation includes accelerated amortisation following a review of remaining useful lives • Exceptional items relates to restructuring and transformation activity • Foreign exchange loss of $2.4m Adjusted EBITDA ($ millions) Operating Profit ($ millions) 2026 Interim Results *Underlying basis, excluding H1 2025 Launch Phase Pricing 14.2 17.4 18.4 19.6 19.6 H1 2024 H2 2024 H1 2025* H2 2025 H1 2026 - 5.7 - 5.1 - 2.4 - 1.5 19.6 4.8 Adjusted EBITDA Share-based payments Depreciation and amortisation Foreign exchange gain/(loss) Exceptional items Operating profit +7%* Adjusted EBITDA Operating Profit 10
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 11 $23.6m returned to shareholders via buybacks 2026 Interim Results • Own cash of $84.6m (FY 2025: $102.9m). The reduction includes $23.6m returned via share buybacks, with $11.3m of free cash flow generated in the half • Working capital adjustment reflects Boku’s own working capital movement excluding those related to merchants and LPMs • Our focus remains on building the platform of the future with associated capitalised investment in software development • Other adjustments includes the net impact of interest received, income tax, currency movements Cash generation and capital returns • Group cash includes amounts due from issuers and merchants and amounts due to merchants; own cash excludes the effects of these items • Group cash balances reduced to $186.8m (FY 2025: $245.6m). • Lower period - end merchant settlement balances, reflecting settlement timing and the unwind of seasonally high December balances • A merchant’s anticipated dual - sourcing, reducing settlement volumes • The repurchase of shares in the period • We continue to anticipate that cash balances will reduce over time as we increase the speed of money movement and accelerate settlement times, mitigated, in part, by business growth • Boku remains debt - free Group Cash to Own Cash Own Cash Movement, H1 2026 ($ millions) Group to Own Cash Walk ($ millions) Free Cash Flow: $11.3m - 287.6 +169.4 +16.0 186.8 84.6 H1'26 Group cash Receivables from issuers Merchant receivables Payables to merchants H1'26 Own cash - 3.8 - 4.6 - 23.6 - 6.0 +19.6 +0.1 102.9 84.6 Own cash 31 Dec 2025 Adjusted EBITDA Working capital Software dev. capex Amort. of warrant costs Share buyback Other adjustments Own cash 30 Jun 2026
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. FY26 guidance unchanged 12 2026 Interim Results $135 - 142m FY26 Revenue FY26 Adjusted EBITDA $38 - 42m
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Stuart Neal, CEO Strategic Update 13 2026 Interim Results
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Deepen Merchant Partnerships H1 2026 recap on our growth strategy Diversify Revenues Drive Scalability Build the Platform of the Future • Win new merchants in new segments • Launch new channel partnerships • Enter additional markets • Build out direct sales team • Support geographic expansion • Cross - border money movement • Facilitate merchants’ consumer acquisition and monetisation • Accelerate time to revenue through increased deployment of standardised connections • Continued investment in automation and AI, improving platform scalability • Bring more currency conversion in - house • Advance payment innovation through our Singapore Innovation Hub, including pay - outs and stablecoin • Build out regulated infrastructure in strategic growth markets 2026 Interim Results 14
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Facilitating growth for our merchants and creating revenue potential 2026 Interim Results 15 15 • Connections launched in 2025 contributed ~ 2. 5 % of H1'26 revenue, up from ~ 1.5 % in FY25, as the cohort continued to build • Delivered 47 new connections for 14 new and existing merchants, spanning 24 markets supporting merchants’ geographic expansion and consumer acquisition • 10 new LPMs added to the network • P rocessed our first transactions on PIX in Brazil and UPI in India • Bundling revenue grew 39% in H1’26 as we have continued to improve merchant experience and speed of on - boarding by ~50%. Momentum continues into H2’26 with the on - boarding of a global video streaming service. • Live with Stripe as our first channel partner, with merchants already live on the Boku network • Established direct sales teams in London and Singapore targeting digital services merchants across an expanded set of verticals • First direct sales merchants live and momentum building into H2’26 • Peter Klein appointed Chief Commercial Officer to lead Boku’s commercial organisation sharpening execution and accelerating the next stage of growth Diversify Revenues Deepen Merchant Partnerships
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Channel partner existing merchant base Underlying merchants millions · one-to-many Channel strategy allows Boku to serve millions of merchants 2026 Interim Results 16 Boku is the LPM-acquiring layer behind the channel partner: it connects once and relies on the partner’s merchant onboarding, KYC and risk & compliance Single Connection build once, contract once Boku existing LPM integrations Local payment methods LPM integration Technology and settlement layer, indirectly connecting partner’s underlying merchants to LPMs Merchant distribution Customer acquisition, onboarding, KYC, risk & compliance Channel partner How the channel partner strategy works
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Drive scalability & Build the platform of the future 2026 Interim Results 17 • Continue to develop our straight - through processing capabilities and other automation features to enhance merchant experience and improve efficiency • Expanded money movement infrastructure into key MEA markets and continue to bring more currency conversion in - house, cross - border settlement volumes increasing ~9% • Expanded our FX partner network with five new onshore and offshore providers, including Standard Chartered Bank • Legacy Fortumo payments platform retired alongside low performing connections • Singapore Innovation Hub running pilots on exciting new technology including stablecoin for settlements (and digital deposits), dynamic FX, payouts and other money movement capabilities • Pursuing a PayFac model that will enable pre - provisioned access for a partner's underlying merchants and can also serve other PSPs and acquiring banks • Appointment of David Oliver as Chief Data & AI Officer to lead the enterprise - wide adoption of AI and agentic technologies. • Karim Ahmad appointed Chief Product Officer from 1 October 2026, leading global Product and building new propositions, including agentic tools, on Boku's LPM network. Build the platform of the future Drive scalability
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Leadership to execute our strategy 2026 Interim Results Stuart Neal Chief Executive Officer Rob Whittick Chief Financial Officer Leila Kassner Chief Operating Officer Liam Mulvihill Chief HR Officer David Oliver Chief Data & AI Officer Keegan Flanigan Chief Technology Officer Paul Jarrett Chief Banking & Treasury Officer Peter Klein Chief Commercial Officer Karim Ahmad Chief Product Officer 18
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Key takeaways 19 2026 Interim Results Resilient H1 2026 financial performance Underlying revenue up 11% and ~29% adj. EBITDA margin Bundling growth of 39% FY26 guidance maintained Post - period end trading in line with expectations. Maintain guidance for revenue of $135 - 142m and adj. EBITDA of $38 - 42m Substantial market opportunity Strong competitive position rooted in high - quality network, international licenses and money movement capabilities Significant strategic progress Launch of channel strategy and establishment of direct sales team A strengthened leadership team to drive next stage of growth
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Questions 20 2026 Interim Results
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 21 Appendices 2026 Interim Results
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 22 Consolidated statement of profit and loss and other comprehensive income For the half year ended 30 June 2026 2026 Interim Results
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 23 Consolidated statement of financial position As at 30 June 2026 2026 Interim Results
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. 24 Consolidated statement of cash flows For the half year ended 30 June 2026 2026 Interim Results
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc. Leadership to execute our strategy 2026 Interim Results Stuart Neal Chief Executive Officer Rob Whittick Chief Financial Officer Leila Kassner Chief Operating Officer Liam Mulvihill Chief HR Officer David Oliver Chief Data & AI Officer Keegan Flanigan Chief Technology Officer Paul Jarrett Chief Banking & Treasury Officer Peter Klein Chief Commercial Officer Karim Ahmad Chief Product Officer 25 Liam has over 20 years’ experience leading HR functions, having held senior roles at a number of high - growth, private equity - backed and publicly listed businesses. Dave joined Boku in 2024 from NatWest, where he spent over 20 years in senior roles across the business, most recently leading the Advanced Analytics & Organisational Performance team. Karim has over 20 years' experience across payments and financial services. He joins from Bain & Company, where he was a Partner specialising in payments. He previously held senior product and technology roles at Trustly and Paysafe. Peter has over 25 years’ experience across Payments and FinTech. He joins Boku from Mastercard, where he built and co - led their global Account - to - Account and Cross - Border Payments business.
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© 2026 Boku Inc. All rights reserved • PROPRIETARY AND CONFIDENTIAL • ‘Boku’ is a registered trademark of Boku, Inc.