Stock Monitor: Glowpoint Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 08, 2018 / If you want access to our free earnings report on Boingo Wireless, Inc. (NASDAQ: WIFI) ("Boingo"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=WIFI. The Company reported its first quarter fiscal 2018 operating and financial results on May 03, 2018. The provider of Wi-Fi hotspots in airports and other public places reported better than expected revenue and earnings estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For the first quarter ended March 31, 2018, Boingo's revenues increased 31.2% to $58.2 million compared to $44.3 million in Q1 2017. The Company's revenue numbers surpassed analysts' estimates of $52 million.
During Q1 2018, Boingo's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were $21.9 million, representing an increase of 77.1% compared to $12.4 million in Q1 2017.
Boingo's net loss attributable to common stockholders was $3.2 million, or $0.08 loss per diluted share, in Q1 2018 compared to a net loss of $6.9 million, or $0.18 loss per diluted share, in Q1 2017. The Company's earnings numbers were better than Wall Street estimates for a loss $0.17 per share.
During Q1 2018, Boingo's Wholesale Wi-Fi segment's revenues soared 63.2% to $11.1 million compared to $6.8 million in Q1 2017. The Company's Military segment's revenues increased 26.4% to $15.9 million compared to $12.5 million in Q1 2017.
For Q1 2018, Boingo's DAS segment's revenues increased 45.5% to $23.6 million compared to $16.3 million in the year earlier same quarter. The DAS segment's revenues for Q1 2018 were comprised of $18.6 million of build-out project revenues and $5.0 million of access fee revenues. In addition, a one-time benefit of $4.3 million related to the adoption of the Financial Accounting Standards Board Accounting Standards Codification (ASC) 606 was included in the DAS segment's revenues for Q1 2018.
During Q1 2018, Boingo entered into agreements with Tier 1 carriers representing 61 carrier contracts. At the end of the reported quarter, the Company had agreements with at least one Tier 1 carrier to be the anchor carrier customer at 53 of the 84 venues in backlog.
During Q1 2018, Boingo added three new venue locations. As of March 31, 2018, there were 24,200 DAS nodes live with another 11,400 nodes in backlog. Boingo deployed wireless infrastructure to cover an additional 6,000 military beds bringing the total footprint to 336,000 military beds and added 12,000 incremental subscribers in the reported quarter. As of March 31, 2018, Boing's subscriber penetration rate improved to 42.3% from 39.4% at December 31, 2017.
During Q1 2018, Boingo's net cash provided by operating activities was $17.3 million, reflecting a decrease of 32.4% compared to $25.5 million in Q1 2017. The Company's free cash flow was negative $3.8 million compared to $8.0 million in the year earlier corresponding quarter.
For the second quarter of the fiscal year 2018, Boingo is forecasting revenues to be in the range of $54.0 million to $58.0 million. The Company is estimating net loss attributable to common stockholders to be in the band of $7.0 million to $4.0 million, or a net loss per diluted share of $0.17 to $0.10. Boing is estimating adjusted EBITDA to be in the range of $17.5 million to $20.5 million for the upcoming quarter.
For the full fiscal year 2018, Boingo is forecasting revenues to be in the band of $227.0 million to $234.0 million. The Company is anticipating net loss attributable to common stockholders to be in the range of $20.0 million to $15.0 million, or a net loss per diluted share of $0.48 to $0.36. For FY18, Boing is estimating adjusted EBITDA to be in the band of $77.0 million to $82.0 million.
Stock Performance Snapshot
June 07, 2018 - At Thursday's closing bell, Boingo Wireless' stock slightly fell 0.35%, ending the trading session at $22.82.
Volume traded for the day: 399.03 thousand shares.
Stock performance in the last month – up 6.74%; past twelve-month period – up 36.16%; and year-to-date – up 1.42%
After yesterday's close, Boingo Wireless' market cap was at $932.65 million.
The stock is part of the Technology sector, categorized under the Diversified Communication Services industry.
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