Boingo Wireless, Inc. (NASDAQ:WIFI)
David Hagan, Chief Executive Officer of Boingo Wireless, Inc. proudly stated in the company’s earnings release this afternoon – “2016 was an incredible, milestone year for Boingo as it was our largest venue acquisition year ever. We signed 38 new venues to the Boingo network in 2016 and signed 43 Tier 1 carrier agreements. These accomplishments enabled us to deliver an all-time revenue high of $159.3 million, marking our third consecutive year of double-digit revenue growth.”
Boingo Wireless, Inc. (NASDAQ:WIFI) is a distributor of antenna systems (DAS) and Wi-Fi provider that serves global consumers, carriers, and advertisers. 2016 revenue of $159.3 million increased 14.1% compared to $139.6 million in 2015. Net loss attributable to common stockholders was $(27.3) million, or $(0.72) per diluted share, compared to a net loss of $22.3 million, or $(0.60) per diluted share, in 2015. Free cash flow was $7.9 million compared to $4.5 million loss in 2015.
Boingo Wireless, Inc. (NASDAQ:WIFI) Guidance for 2017
Revenue is expected to be in the range of $180.0 million to $188.0 million (analysts were forecasting $181.4 million). Net loss attributable to common stockholders is expected to be in the range of $(29.0) million to $(25.0) million, or a net loss of $(0.74) to $(0.64) per diluted share (anayst expectations were for a narrower EPS loss of $0.48). Adjusted EBITDA is expected to be in the range of $51.0 million to $56.0 million.
|Last Price a/o 5:48 PM EST||$ 11.23|
|Market Cap (mlns)||$ 430.98|
|Shares Outstanding (mlns)||38.48|
|Share Float (mlns)||37.32|
|Short Interest Ratio||12.96|
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: James Marion is a University of Houston student studying Business with a concentration in Finance.