Shares of Boingo Wireless  (WIFI)  fell 13% in 2015 as the Wi-Fi provider continued to roll out its services in airports and stadiums worldwide. Company CEO David Hagan said this year will show increasing profitability even as the company continues to invest in infrastructure.

"The stock market is trailing the very positive news that we have had as a business," said Hagan. "We haven't come out with 2016 guidance yet, but our guidance for 2015 was about a 15% growth rate and increasing profitability and when we come out with 2016 guidance it will likely be in that range."

Boingo's footprint of small cell networks cover more than a million DAS (distributed antenna system) and Wi-Fi locations and reaches more than 1 billion consumers each year primarily in airports, stadiums, universities and military bases.

Boingo is the world's leading airport Wi-Fi provider, managing services in nearly 60 airports, representing more than 50% of North America's top 50 airports and more than 30% of the world's top 30 airports.

Hagan said the company remains in "build mode" and is deploying a ton of cash as it expands its networks.

"We are coming through a pretty significant two and a half year investment cycle, mostly in the military business," said Hagan. "As a result, we are growing EBITDA but we have so much depreciation hitting the P&L that it's causing the earnings to be negative. That will right itself over the next couple of years."

Hagan said the company's advertising platform has also been contributing to the top line.

"A traveler is in an airport and doesn't want to pay for service but can get on line for free by engaging with a 30-second ad, it's a great business," said Hagan.

Finally, Boingo has approximately $8.5 million in cash on its balance sheet and $21.5 million in debt. And while Wall Street expects the company to lose 60 cents in 2016, Hagan said he does not expect to raise additional capital through a stock or debt sale.

"We've got plenty of money to execute the plan that we've communicated to the Street," said Hagan.

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