BOINGO WIRELESS, INC. WIFI Cash Flow

Boingo wireless, inc. (WIFI)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities
Net loss
-9,763	-10,277	-4,655	-4,478	-2,197	269	-1,095	-4,409	-14,776	-18,776	-22,074	-24,433	-23,821	-26,983	-26,379	-25,703	-24,286	-22,178	-24,967	-23,595	-21,292	-18,767	-15,006	-10,931	-7,632	-3,318	860	3,397	5,231	8,024	8,551	7,290	7,558	6,937	0	0	0
Adjustments to reconcile net loss including non-controlling interests to net cash provided by operating activities:
Depreciation and amortization of property and equipment
70,499	70,862	74,818	76,852	77,240	78,837	76,622	75,966	74,718	69,097	63,645	58,493	53,879	49,202	45,195	42,135	40,547	38,293	35,695	32,997	29,716	27,446	24,979	22,388	20,591	18,940	17,897	16,952	15,576	15,958	15,079	14,835	14,287	12,301	0	0	0
Amortization of intangible assets
4,551	4,571	4,568	4,577	4,114	3,710	3,332	3,072	3,314	3,498	3,539	3,542	3,494	3,448	3,449	3,537	3,548	3,576	3,613	3,629	3,684	3,716	3,606	3,188	2,776	2,250	1,781	1,536	1,267	1,103	1,041	1,068	1,329	1,655	0	0	0
Impairment loss and loss on disposal of fixed assets and intangible assets held for sale, net
319	440	317	455	259	238	914	853	1,219	1,158	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of fixed assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
7,789	8,596	9,475	10,576	11,486	12,268	12,426	12,955	14,297	14,215	14,131	13,453	12,244	12,805	12,898	12,148	11,168	9,398	8,144	7,730	7,482	7,164	6,517	6,027	5,421	4,506	3,771	2,637	2,344	2,735	3,338	4,465	4,237	3,450	0	0	0
Amortization of deferred financing costs and debt discount, net of amounts capitalized
8,499	8,412	8,815	6,642	4,517	2,261	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash operating lease cost
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of operating lease right-of-use assets
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains and amortization of premiums/discounts for marketable securities
483	609	522	425	207	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Forgiveness on note receivable from stockholder
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	103	0	0	0
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	55	-1,063	732	41	-1,818	0	0	0	-	-	-	-
Change in fair value of contingent consideration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-114	-567	-567	-547	-811	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Bad debt expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in deferred income taxes
0	-	-	-	0	-	-	-	-	-2,575	284	290	284	303	359	369	338	320	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	2,828	0	0	0
Changes in operating assets and liabilities:
Accounts receivable
35	-9,184	19,080	32,485	5,596	13,702	-10,646	12,496	2,597	-16,046	-4,792	-21,192	-14,525	-526	-6,036	8,141	10,728	16,050	26,522	13,912	14,341	11,583	7,955	10,475	1,686	2,403	1,686	4,705	4,332	3,011	4,702	232	454	-734	0	0	0
Unbilled receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Prepaid expenses and other assets
-175	-1,233	-355	1,154	1,364	800	-766	310	-11	841	469	1,535	987	835	2,831	2,037	3,807	3,459	3,499	2,492	1,749	1,935	-698	-337	-379	-1,648	2,410	1,370	978	347	-2,070	-1,503	-1,330	-357	0	0	0
Accounts payable
-1,137	426	-1,755	-855	445	-246	1,817	1,706	1,586	-1,554	-5,259	-1,822	-7,558	-465	4,887	409	4,014	3,845	-1,064	-5,546	2,394	-2,252	1,501	5,338	93	-242	22	-553	-469	-290	-2,112	1,251	-2,518	-1,236	0	0	0
Accrued expenses and other liabilities
5,282	7,054	8,314	9,120	3,982	6,477	5,950	4,701	11,459	9,313	8,737	7,823	3,977	5,835	3,548	7,300	7,516	4,569	10,896	6,495	2,809	4,739	-730	-2,825	-878	-1,307	-649	1,173	-104	-2,506	-4,054	-1,299	-601	-83	0	0	0
Deferred revenue
19,663	10,301	29,558	30,360	12,660	9,263	-8,381	3,113	2,074	7,288	20,762	29,050	43,307	71,005	94,804	88,988	98,353	79,829	49,219	34,037	15,624	11,872	9,890	9,664	188	-596	-2,141	1,217	4,706	123	5,046	1,804	2,719	2,351	0	0	0
Operating lease liabilities
-3,038	-2,973	-1,996	-1,447	-729	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
104,000	108,710	103,558	93,529	99,794	93,321	101,138	83,139	89,466	97,728	89,031	106,891	99,700	115,205	142,323	119,405	127,137	98,575	52,419	40,536	25,611	21,207	26,749	26,914	23,486	20,671	19,922	20,541	24,189	24,596	26,777	32,949	29,444	29,529	0	0	0
Cash flows from investing activities
Purchases of marketable securities
59,544	81,177	73,323	55,629	36,665	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	27,163	27,187	33,028	33,368	33,430	51,352	55,529	51,759	70,185	0	0	0	-	-	-	-
Increase in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturities of marketable securities
67,558	41,593	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	1,614	17,268	29,935	41,767	58,511	46,419	42,545	41,306	42,026	0	0	0	-	-	-	-	-	-	-	-
Purchases of property and equipment
123,898	133,696	137,654	139,664	120,003	108,730	91,148	84,309	76,934	73,308	69,917	74,931	79,240	107,271	131,732	134,067	132,038	103,116	79,353	68,365	71,541	70,945	65,371	53,166	40,350	29,500	21,395	19,545	18,065	18,000	19,518	17,799	15,645	16,917	0	0	0
Payments for asset and business acquisitions
-	-	-	-	-	-	-	-	-	1,150	1,210	1,210	1,210	60	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-115,884	-173,280	-176,256	-206,617	-181,292	-133,354	-113,200	-84,309	-76,934	-74,458	-71,127	-76,141	-80,450	-107,331	-131,732	-134,075	-132,038	-101,502	-61,977	-38,050	-33,857	-39,199	-60,481	-58,274	-47,037	-40,403	-25,254	-24,546	-29,889	-62,468	-51,162	-50,293	-47,177	-7,335	0	0	0
Cash flows from financing activities
Debt issuance costs
128	1,815	2,510	2,510	2,382	695	0	0	0	-	-	-	-	124	186	186	186	62	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-536	0	0	0
Payments for business acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Payments for business acquisition, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	160	0	0	0	-	-	-	-
Proceeds from credit facility
100,000	3,500	3,500	18,500	18,500	15,000	0	0	0	-	-	-	-	5,000	5,000	10,000	20,000	20,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on credit facility
584	778	15,803	15,826	15,850	15,875	5,875	5,876	10,875	16,094	10,875	15,874	10,875	5,656	6,093	875	5,875	5,875	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of acquisition related consideration
1,075	3,027	3,027	1,952	1,952	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
649	470	369	1,604	5,757	9,979	11,015	14,075	13,033	9,244	8,996	4,824	1,953	2,984	2,107	2,129	2,553	1,373	1,545	2,007	1,353	1,158	934	502	495	614	988	979	1,412	2,573	2,551	2,355	2,294	1,028	0	0	0
Payments of finance leases and notes payable
6,040	6,608	6,981	6,902	6,584	6,181	5,617	5,253	4,813	4,207	3,275	2,754	2,338	2,212	2,276	1,903	1,435	814	510	467	544	627	635	476	340	187	96	75	53	190	0	0	0	-	-	-	-
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	55	1,127	2,922	2,231	372	0	0	0	-	-	-	-
Payments of withholding tax on net issuance of restricted stock units
1,974	34,420	35,758	36,616	37,103	10,536	10,293	10,000	9,650	4,872	4,195	3,765	3,390	2,827	2,640	2,678	2,832	2,512	2,493	2,284	2,015	1,922	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments of acquired notes payable and financed liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,079	0	0	0	-	-	-	-	-	-	-	-
Payments of capital leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Payments to non-controlling interest
1,265	1,003	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	623	633	653	648	608	656	614	615	678	620	642	642	547	0	0	0
Payment of other acquisition related consideration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,255	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
88,836	-44,428	109,787	127,042	131,519	162,825	3,616	-7,668	-12,430	-16,054	-9,474	-17,694	-14,936	-3,121	-5,974	3,451	8,958	8,843	14,166	10,110	5,380	-480	-6,990	-8,778	-9,581	-11,068	-7,272	-3,929	-3,104	2,077	2,881	1,677	48,707	46,018	0	0	0
Effect of exchange rates on cash
-52	-13	-83	-33	-69	-65	-12	-23	-16	-16	4	-26	13	14	27	-8	-25	-47	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase (decrease) in cash and cash equivalents
76,900	-109,011	37,006	13,921	49,952	122,727	-8,458	-8,861	86	7,200	8,434	13,030	4,327	4,767	4,644	-11,227	4,032	5,869	4,526	12,564	-2,897	-18,489	-40,716	-40,138	-33,132	-30,800	-12,604	-7,934	-8,804	-35,795	-21,504	-15,667	30,974	68,212	0	0	0
Supplemental disclosure of cash flow information
Cash paid for taxes, net of refunds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	500	737	813	463	699	1,357	0	0	0
Supplemental disclosure of non-cash investing and financing activities
Property and equipment costs included in accounts payable, accrued expenses and other liabilities
39,482	39,037	37,332	45,296	56,207	37,275	36,574	25,295	27,134	20,554	17,047	16,980	11,942	16,976	10,705	34,226	54,380	45,417	52,454	32,774	13,032	11,647	18,876	19,561	15,383	10,283	3,157	2,041	2,342	2,607	3,877	3,265	3,489	1,995	0	0	0
Purchase of equipment and prepaid maintenance services under capital financing arrangements
-	-	-	-	-	5,068	10,871	11,036	9,300	7,944	4,210	5,538	5,831	6,629	5,300	3,807	2,914	3,839	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capitalized stock-based compensation included in property and equipment costs
779	860	878	862	833	789	766	721	688	696	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase price for business acquisition included in accrued expenses and other liabilities
0	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs included in accrued expenses and other liabilities
0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Financed sale of intangible assets held for sale
256	290	300	299	311	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-controlling interest distributions declared but unpaid
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion of convertible preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,633	0	0	0
Assets acquired in business acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39,794	0	0	0	-	-	-	-	-	-	-	-
Liabilities assumed in business acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,151	0	0	0	-	-	-	-	-	-	-	-
Offering costs in accounts payable, accrued expenses and other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0