CAMBRIDGE, United Kingdom—Off-deck wireless content provider Bango reported increased quarterly revenues but offered a lowered forecast for its non-U.K. businesses.
The direct-to-consumer technology company said it generated $14.19 million during the quarter ending March 31, more than doubling revenues during the year-earlier period. But Bango also reported a pre-tax loss of $2.45 million as operating expenses increased by 92 percent to $7 million during the period due to expansion into new markets.
Bango last year raised $11.7 million in a public offering, and is working to gain a foothold in North America as off-deck traffic increases. The company’s content provider customers include Sony BMG, Hearst Publications, Discovery Mobile and EMI Music.
“We have established a strong and scalable business with a unique industry position,” said Ray Anderson, Bango’s chief executive officer. “Our growth is accelerating and the market, although still at an early stage, continues to develop in our favor.”
