Boingo Wireless (NASDAQ:WIFI) has surged 17.7% after hours, following a miss in its quarterly report but confirmation that it's received "multiple inquiries" about a potential strategic deal.
"The company has received multiple inquiries regarding a potential strategic transaction. Accordingly, the company's board has engaged advisors to assess these opportunities," the company says, though it's not commenting beyond that. It's suspending guidance until further notice.
Revenues fell 5.5% to $64.1M, as growth in military/multifamily (of 2.5%) and wholesale Wi-Fi (by 0.6%) was offset by drops in DAS, advertising/other, and retail revenue.
The company swung to an attributable net loss of $5.2M from a year-ago income of $0.4M. EBITDA dropped 14.5% to $19.8M.
Net cash from operations was up 23% to $27.6M, and free cash flow improved to -$4.6M from a prior0-year -$13.7M.
Source Seekingalpha
Stock is down 44% in 1 year
Short interest is high at 9.12%
"The company has received multiple inquiries regarding a potential strategic transaction. Accordingly, the company's board has engaged advisors to assess these opportunities," the company says, though it's not commenting beyond that. It's suspending guidance until further notice.
Revenues fell 5.5% to $64.1M, as growth in military/multifamily (of 2.5%) and wholesale Wi-Fi (by 0.6%) was offset by drops in DAS, advertising/other, and retail revenue.
The company swung to an attributable net loss of $5.2M from a year-ago income of $0.4M. EBITDA dropped 14.5% to $19.8M.
Net cash from operations was up 23% to $27.6M, and free cash flow improved to -$4.6M from a prior0-year -$13.7M.
Source Seekingalpha
Stock is down 44% in 1 year
Short interest is high at 9.12%