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Boingo Exceeds Second Quarter Revenue and Adjusted EBITDA Guidance; Raises Full Year Revenue GuidanceBoingo Wireless (News - Alert) (NASDAQ: WIFI), the leading distributed antenna system (DAS) and Wi-Fi provider that serves consumers, carriers and advertisers worldwide, today announced the company's financial results for the second quarter ended June 30, 2015. Second Quarter 2015 Financial Highlights
Operational Highlights
Key Business Metrics
Management Commentary "I'm pleased to announce that Boingo's strong momentum continued into the second quarter, making it a record breaking quarter in a number of ways," said David Hagan, Chief Executive Officer of Boingo Wireless. "For the second sequential quarter, we exceeded the high end of our guidance for revenue and adjusted EBITDA, providing us with incremental flexibility to re-invest in our growth initiatives and enabling us to raise our full year revenue guidance. Our performance was once again led by military, DAS and wholesale Wi-Fi." Mr. Hagan continued, "DAS, coming off a record first quarter, was even stronger in the second quarter. Through the first six months of 2015, we signed more than 30 long-term DAS contracts with the big four Tier One carriers, making this our biggest year ever for DAS contracts. Wholesale Wi-Fi, led by carrier offload, had a record breaking quarter as well with offload traffic growing week over week as millions of customers move through our Passpoint-enabled airports and are seamlessly connected to Wi-Fi as easily and as safely as cellular. Our military build-out also progressed as we crossed over 160,000 beds on U.S. Army, Air Force and Marine Corps bases by the end of the second quarter." Mr. Hagan concluded, "The significant investments we've been making in DAS, military and network upgrades are paying off and will continue to be key drivers of future growth. The momentum we're experiencing echoes the strength that we are seeing in the overall wireless infrastructure market, particularly around network densification, Wi-Fi proliferation and network traffic growth. Boingo remains very well-positioned to capitalize on these trends." Business Outlook Boingo Wireless is initiating guidance for the third quarter ending September 30, 2015 and is raising its revenue guidance for the full year ending December 31, 2015, as follows: Third Quarter 2015
Full Year 2015
Conference Call Information Members of Boingo Wireless' management will host a conference call to discuss its second quarter 2015 financial results beginning at 4:30 pm ET (1:30 pm PT), today, August 6, 2015. To participate in the conference call, investors from the U.S. and Canada should dial (877) 407-0789 and enter the passcode: 13614400 ten minutes prior to the scheduled start time. International callers should dial +1 (201) 689-8562 and enter the same passcode. In addition, the call will be broadcast live over the Internet hosted on the Investor Relations section of the company's website at http://investors.boingo.com and will be archived online upon completion of the conference call. Use of Non-GAAP Financial Measures To supplement Boingo Wireless' financial statements presented on a GAAP basis, Boingo Wireless provides Adjusted EBITDA as a supplemental measure of its performance. The company defines Adjusted EBITDA as net loss attributable to common stockholders plus depreciation and amortization of property and equipment, income tax expense, amortization of intangible assets, stock-based compensation expense, non-controlling interests and interest and other (income) expense, net. Boingo Wireless believes Adjusted EBITDA is useful to investors in evaluating its operating performance. Boingo's management uses Adjusted EBITDA in conjunction with accounting principles generally accepted in the United States, or GAAP, and operating performance measures as part of its overall assessment of the company's performance for planning purposes, including the preparation of its annual operating budget, to evaluate the effectiveness of its business strategies and to communicate with its board of directors concerning its financial performance. Adjusted EBITDA should not be considered as an alternative financial measure to net loss attributable to common stockholders, which is the most directly comparable financial measure calculated in accordance with GAAP, or any other measure of financial performance calculated in accordance with GAAP. About Boingo Wireless Boingo Wireless, Inc. (NASDAQ: WIFI) helps the world stay connected. Boingo's vast footprint of small cell networks covers more than a million DAS and Wi-Fi locations and reaches more than 1 billion consumers annually - in places as varied as airports, stadiums, arenas, universities, and military bases. For more information about the Boingo story, visit www.boingo.com. Cautionary Statement Regarding Forward-Looking Statements This press release contains "forward-looking statements" that involves risks, uncertainties and assumptions. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" and similar references to future periods. These forward-looking statements include the quotations from management in this press release, as well as any statements regarding Boingo's strategic plans and future guidance. Forward-looking statements are based on the Company's current expectations and assumptions regarding its business, the economy and other future conditions. Since forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company's actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, as well as other risks and uncertainties described more fully in documents filed with or furnished to the Securities and Exchange Commission (SEC (News - Alert)), including Boingo's Form 10-K for the year ended December 31, 2014 filed with the SEC on March 16, 2015 and Form 10-Q for the quarter ended March 31, 2015 filed with the SEC on May 11, 2015, which the Company incorporates by reference into this press release. Any forward-looking statement made by Boingo in this press release speaks only as of the date on which it is made. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for Boingo to predict all of them. Boingo undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Boingo, Boingo Wireless, the Boingo Wireless Logo and Don't Just Go. Boingo. are registered trademarks of Boingo Wireless, Inc. All other trademarks are the properties of their respective owners.
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