Boingo wireless, inc. (WIFI)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities
Net loss

-4,725

-5,164

-103

229

-5,239

458

74

2,510

-2,773

-906

-3,240

-7,857

-6,773

-4,204

-5,599

-7,245

-9,935

-3,600

-4,923

-5,828

-7,827

-6,389

-3,551

-3,525

-5,302

-2,628

524

-226

-988

1,550

3,061

1,608

1,805

2,077

1,800

1,876

1,184

Adjustments to reconcile net loss including non-controlling interests to net cash provided by operating activities:
Depreciation and amortization of property and equipment

18,646

18,112

16,867

16,874

19,009

22,068

18,901

17,262

20,606

19,853

18,245

16,014

14,985

14,401

13,093

11,400

10,308

10,394

10,033

9,812

8,054

7,796

7,335

6,531

5,784

5,329

4,744

4,734

4,133

4,286

3,799

3,358

4,515

3,407

3,555

2,810

2,529

Amortization of intangible assets

1,111

1,206

1,103

1,131

1,131

1,203

1,112

668

727

825

852

910

911

866

855

862

865

867

943

873

893

904

959

928

925

794

541

516

399

325

296

247

235

263

323

508

561

Impairment loss and loss on disposal of fixed assets and intangible assets held for sale, net

-30

163

-75

261

91

40

63

65

70

716

2

431

9

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-19

-

-

86

-91

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation

1,537

2,162

2,054

2,036

2,344

3,041

3,155

2,946

3,126

3,199

3,684

4,288

3,044

3,115

3,006

3,079

3,605

3,208

2,256

2,099

1,835

1,954

1,842

1,851

1,517

1,307

1,352

1,245

602

572

218

952

993

1,175

1,345

724

206

Amortization of deferred financing costs and debt discount, net of amounts capitalized

2,343

1,858

2,173

2,125

2,256

2,261

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash operating lease cost

639

-

-

-

438

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of operating lease right-of-use assets

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains and amortization of premiums/discounts for marketable securities

81

87

97

218

207

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

2

-55

2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Forgiveness on note receivable from stockholder

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

103

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,741

-1,342

-281

3,419

-2,859

453

-972

1,560

-

-

-

-

Change in fair value of contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-114

-453

0

20

-378

-

-

-

-

-

-

-

-

-

-

-

-

Bad debt expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in deferred income taxes

-12

-

-

-

0

-

-

-

-

-2,880

62

122

121

-21

68

116

140

35

78

85

122

-

-

-

-

-

-

-

-

-

-

-

-

3,685

-1,091

164

70

Changes in operating assets and liabilities:
Accounts receivable

4,912

-16,158

-24,376

35,657

-4,307

12,106

-10,971

8,768

3,799

-12,242

12,171

-1,131

-14,844

-988

-4,229

5,536

-845

-6,498

9,948

8,123

4,477

3,974

-2,662

8,552

1,719

346

-142

-237

2,436

-371

2,877

-610

1,115

1,320

-1,593

-388

-73

Unbilled receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

38

39

227

Prepaid expenses and other assets

1,071

-287

-1,322

363

13

591

187

573

-551

-975

1,263

252

301

-1,347

2,329

-296

149

649

1,535

1,474

-199

689

528

731

-13

-1,944

889

689

-1,282

2,114

-151

297

-1,913

-303

416

470

-940

Accounts payable

-166

-106

437

-1,302

1,397

-2,287

1,337

-2

706

-224

1,226

-122

-2,434

-3,929

4,663

-5,858

4,659

1,423

185

-2,253

4,490

-3,486

-4,297

5,687

-156

267

-460

442

-491

531

-1,035

526

-312

-1,291

2,328

-3,243

970

Accrued expenses and other liabilities

-3,253

1,660

1,733

5,142

-1,481

2,920

2,539

4

1,014

2,393

1,290

6,762

-1,132

1,817

376

2,916

726

-470

4,128

3,132

-2,221

5,857

-273

-554

-291

388

-2,368

1,393

-720

1,046

-546

116

-3,122

-502

2,209

814

-2,604

Deferred revenue

9,801

-8,222

-998

19,082

439

11,035

-196

1,382

-2,958

-6,609

11,298

343

2,256

6,865

19,586

14,600

29,954

30,664

13,770

23,965

11,430

54

-1,412

5,552

7,678

-1,928

-1,638

-3,924

6,894

-3,473

1,720

-435

2,311

1,450

-1,522

480

1,943

Operating lease liabilities

-794

-977

-549

-718

-729

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

19,033

27,639

48,099

9,229

23,743

22,487

38,070

15,494

17,270

30,304

20,071

21,821

25,532

21,607

37,931

14,630

41,037

48,725

15,013

22,362

12,475

2,569

3,130

7,437

8,071

8,111

3,295

4,009

5,256

7,362

3,914

7,657

5,663

9,543

10,086

4,152

5,748

Cash flows from investing activities
Purchases of marketable securities

15,032

7,854

17,694

18,964

36,665

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

7

19

4,455

22,682

31

5,860

4,795

22,744

17,953

10,037

1,025

41,170

-

-

-

-

Increase in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities of marketable securities

25,965

4,300

23,993

13,300

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,614

15,654

12,667

11,832

18,358

3,562

8,793

10,593

19,078

-

-

-

-

-

-

-

-

Purchases of property and equipment

22,592

32,241

27,603

41,462

32,390

36,199

29,613

21,801

21,117

18,617

22,774

14,426

17,491

15,226

27,788

18,735

45,522

39,687

30,123

16,706

16,600

15,924

19,135

19,882

16,004

10,350

6,930

7,066

5,154

2,245

5,080

5,586

5,089

3,763

3,361

3,432

6,361

Payments for asset and business acquisitions

-

-

-

-

-

-

-

-

-

0

0

0

1,150

60

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-11,659

-35,795

-21,304

-47,126

-69,055

-38,771

-51,665

-21,801

-21,117

-18,617

-22,774

-14,426

-18,641

-15,286

-27,788

-18,735

-45,522

-39,687

-30,131

-16,698

-14,986

-162

-6,204

-12,505

-20,328

-21,444

-3,997

-1,268

-13,694

-6,295

-3,289

-6,611

-46,273

5,011

-2,420

-3,495

-6,431

Cash flows from financing activities
Debt issuance costs

0

0

0

128

1,687

695

0

0

0

-

-

-

-

0

0

0

124

62

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-601

13

29

23

Payments for business acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

34

47

Payments for business acquisition, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

4,874

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

146

0

0

14

-

-

-

-

Proceeds from credit facility

100,000

0

0

0

3,500

0

15,000

0

0

-

-

-

-

0

0

0

5,000

0

5,000

10,000

5,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on credit facility

0

194

195

195

194

15,219

218

219

219

5,219

219

5,218

5,438

0

5,218

219

219

437

0

5,219

219

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of acquisition related consideration

0

0

1,075

0

1,952

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

185

316

74

74

6

215

1,309

4,227

4,228

1,251

4,369

3,185

439

1,003

197

314

1,470

126

219

738

290

298

681

84

95

74

249

77

214

448

240

510

1,375

426

44

449

109

Payments of finance leases and notes payable

1,285

1,446

1,576

1,733

1,853

1,819

1,497

1,415

1,450

1,255

1,133

975

844

323

612

559

718

387

239

91

97

83

196

168

180

91

37

32

27

0

16

10

164

-

-

-

-

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,741

-1,342

-281

3,419

-669

453

-972

1,560

-

-

-

-

Payments of withholding tax on net issuance of restricted stock units

461

297

457

759

32,907

1,635

1,315

1,246

6,340

1,392

1,022

896

1,562

715

592

521

999

528

630

675

679

509

421

406

586

-

-

-

-

-

-

-

-

-

-

-

-

Payments of acquired notes payable and financed liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

6,079

-

-

-

-

-

-

-

-

Payments of capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

93

115

122

Payments to non-controlling interest

262

0

0

1,003

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

4

619

10

20

-1

579

58

-22

0

642

0

0

0

547

Payment of other acquisition related consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

980

0

275

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

98,177

-1,621

-3,976

-3,744

-35,087

152,594

13,279

733

-3,781

-6,615

1,995

-4,029

-7,405

-35

-6,225

-1,271

4,410

-2,888

3,200

4,236

4,295

2,435

-856

-494

-1,565

-4,075

-2,644

-1,297

-3,052

-279

699

-472

2,129

525

-505

46,558

-560

Effect of exchange rates on cash

-36

-4

-18

6

3

-74

32

-30

7

-21

21

-23

7

-1

-9

16

8

12

-44

-1

-14

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

105,515

-9,781

22,801

-41,635

-80,396

136,236

-284

-5,604

-7,621

5,051

-687

3,343

-507

6,285

3,909

-5,360

-67

6,162

-11,962

9,899

1,770

4,819

-3,924

-5,562

-13,822

-17,408

-3,346

1,444

-11,490

788

1,324

574

-38,481

15,079

7,161

47,215

-1,243

Supplemental disclosure of cash flow information
Cash paid for taxes, net of refunds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

42

87

371

0

279

163

21

236

937

Supplemental disclosure of non-cash investing and financing activities
Property and equipment costs included in accounts payable, accrued expenses and other liabilities

39,754

3,522

738

-4,532

39,309

1,817

8,702

6,379

20,377

1,116

-2,577

8,218

13,797

-2,391

-2,644

3,180

18,831

-8,662

20,877

23,334

9,868

-1,625

1,197

3,592

8,483

5,604

1,882

-586

3,383

-1,522

766

-285

3,648

-252

154

-61

2,154

Purchase of equipment and prepaid maintenance services under capital financing arrangements

-

-

-

-

-

0

0

3,138

1,930

5,803

165

1,402

574

2,069

1,493

1,695

1,372

740

0

802

2,297

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capitalized stock-based compensation included in property and equipment costs

149

171

224

235

230

189

208

206

186

166

163

173

194

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase price for business acquisition included in accrued expenses and other liabilities

0

-

-

0

2,961

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs included in accrued expenses and other liabilities

0

-

-

-

125

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Financed sale of intangible assets held for sale

277

-10

1

-12

311

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-controlling interest distributions declared but unpaid

-

-

-

-

-

-

-

-

-

-

-

-

125

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

438

1,195

Assets acquired in business acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

22,477

0

0

17,317

-

-

-

-

-

-

-

-

Liabilities assumed in business acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,708

0

0

12,443

-

-

-

-

-

-

-

-

Offering costs in accounts payable, accrued expenses and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-398

854