Edison issues outlook on Boku (BOKU): Making the complex simple for global merchants
EBITDA grew 27% y o y as the company continued to invest in building out its LPM network from a technological and regulatory perspective.
- EBITDA grew 27% y o y as the company continued to invest in building out its LPM network from a technological and regulatory perspective.
- Boku is trading at a small premium to its peer group on FY24/25 EV/EBITDA multiples.
- In a DCF factoring in meeting the targets by FY27, we estimate the shares could be worth 251p.
- A growing contribution from Amazon, continued adoption of LPMs and new major merchant sign-ups are the main triggers to achieve this, in our view.