Boku — Outlining the growth path

At its recent capital markets event, Boku outlined how it intends to meet its medium-term growth targets. The combination of ongoing growth from existing merchants as they add new local payment connections, signing up new enterprise merchants, and layering on new money movement services is expected to drive a revenue CAGR of at least 20% in the medium term, in line with our forecasts to FY27. After a period of heavy investment in product and back office, moderating spend should lead to margin expansion from FY26.