Boku reported $66.5 million in revenue for the first half of 2026, an increase of 5% year over year, as the digital payments company expanded its local payment network, introduced new payment connections, and signed its first channel partnership with Stripe.
Excluding nonrecurring revenue recognized in the prior-year period, Boku reported 11% underlying revenue growth. The company also processed $8.6 billion in total payment volume, representing an increase of 16% from $7.4 billion a year earlier.
For the six months ended June 30, 2026, Boku generated $19.6 million in adjusted EBITDA, compared with reported adjusted EBITDA of $21.8 million in the previous year.
The latest result represented an adjusted EBITDA margin of 29.4%, compared with 34.3% on a reported basis in the first half of 2025.
However, after adjusting the prior-year figures for nonrecurring launch-phase pricing revenue, adjusted EBITDA increased approximately 7% from $18.4 million.
Boku’s operating profit declined to $4.8 million from $11.9 million on a reported basis.
The company attributed its slower first-half growth partly to delayed launches for an important customer operating across multiple markets.
Under that customer’s dual-sourcing strategy, Boku had anticipated that lower transaction volumes in one established market would be offset by additional business in new markets.
Those launches were delayed from the first half into the second half of 2026.
Boku also experienced the suspension of two direct payment connections by local authorities in one country, alongside delays affecting several other customer launches.
Management said the delayed market launches had subsequently gone live and were contributing to second-half activity.
Boku’s Direct Carrier Billing business generated $35.3 million in revenue, compared with $34.2 million a year earlier.
Its Digital Wallets and Account-to-Account business generated $22 million, compared with $22.5 million in reported revenue during the prior-year period.
On an underlying basis, excluding the previous year’s nonrecurring launch-related revenue, Digital Wallets and Account-to-Account revenue increased approximately 15%.
The company’s Bundling business generated $9.2 million in revenue, representing growth of 39% from $6.6 million.
