- The company is building out its venues for DAS and carrier offload, hooks up military and multifamily buildings to increase its footprint.
- While that growth is going well, it requires significant CapEx and the inherent profitability remains to be seen. Cash flow and debt have made investors somewhat uncomfortable.
- Leverage can come when they sign up more carriers for existing facilities management, this is a matter of time.
- A longer-term future is also imaginable where the company takes its foot off the accelerator and cash generation improves.
- We can see some recovery in the share price later in the year as Q4 promises to be better, but only a new carrier deal would seal it convincingly for us.
Boingo Wireless: Still In An Expensive Land Grab Phase
September 20th, 2019 · No Comments