Boku reported revenue of $63.3 million for the first half of 2025, up 34% from the same period last year, as the London-listed payments company extends beyond its traditional carrier billing business into faster-growing digital wallet connections. The company said adjusted EBITDA reached $21.8 million with margins of 34.3%, up from 30.1% a year earlier. Operating profit swung to $11.9 million from a loss of $396,000 in the first half of 2024. Revenue from digital wallets and account-to-account payment schemes climbed 89% to $22.5 million, now representing 36% of total revenue compared with 25% in the prior year. The company cautioned that roughly $3 million of first-half revenue came from launch-phase pricing arrangements that won’t repeat in the second half. The company added 60 new connections between merchants and payment methods during the half, and brought on new clients including what it described as a leading digital design platform and a global entertainment company. Monthly active users in June reached 95.5 million, up 20% from a year earlier, while total payment volumes processed through the network increased 28% to $7.4 billion. Boku’s take rate, the percentage of payment volume it captures as revenue, edged up to 0.85% from 0.81%, largely reflecting the launch-phase pricing. Stripping that out, underlying take rates held steady.