Revenue from the distributed antenna system (DAS) segment accounted for 36% of Boingo Wireless overall revenue in the first quarter of the year, down from a contribution of 41% in the year-ago period, CFO Peter Hovenier said during a conference call with investors.
DAS revenue totaled $24.1 million in Q1, up 1.9% compared to the first quarter of 2018. DAS revenue for the quarter was comprised of $17.7 million of build-out project revenue and $6.4 million of access fee revenue.
The company added three new DAS deals in the first quarter reaching a total of 133 venues under contract.
“The number of DAS nodes in our network for the first quarter was 31,100, up 28.5% for the prior year period, 4% in the fourth quarter of 2018. The number of DAS nodes in backlog, which represents a number of DAS nodes under contract but not yet active as of the end of the first quarter were 13,700, up 20.2% from the prior year period, and down 0.7% from the fourth quarter of 2018,” the executive said.
Boingo recorded revenues of $66.5 million for Q1, climbing 14.3%, compared to $58.2 million in the same quarter in 2018. Boingo said revenue growth reflected strong performance in the military multifamily, and DAS segments during the quarter.
The company also posted a net loss of $5.2 million in the period compared to a net loss of $ 3.2 million in the year-ago quarter.
Revenue from the military/multi-family segment amounted to $25.9 million in Q1 2019, up 63.3% compared to the first quarter of 2018.
Boingo provides a range of services including Wi-Fi and TV for service men and women living in military barracks throughout the U.S. and in South Korea and Japan. The company’s military subscriber base totaled 147,000 subscribers at the end of the first quarter, up 3.5% from the prior year period, and up 6.5% from the fourth quarter of 2018.
During the quarter, the Company deployed a Wi-Fi 6 commercial trial at John Wayne Airport (SNA) to test Wi-Fi 6 technology.
“The launch is part of a commercial trial to test next-generation Wi-Fi capabilities, and it marks the first known Wi-Fi 6 deployment at a major airport. Wi-Fi 6 is a new industry standard that was developed to enhance WiFi capabilities to effectively handle growing traffic demands. It introduces new features to deliver faster speeds, higher density, and faster throughput,” Boingo Wireless’ CEO Mike Finley said.
“We believe Wi-Fi 6 is a strategic pillar of Boingo’s technology roadmap to equip airports and other large venues with cutting-edge connectivity solutions,” Finley added.