Inteliquent (IQNT) connects millions of phone calls and text messages from U.S. telecom companies like AT&T (T) and Sprint (S) , as well as next-generation communication providers and app developers. It's a critical role in how people around the world connect each day, but few people know its services exist.
The company's CEO, Matt Carter, is looking to change that.
"We are seeing an explosion of text messaging growth among the population and what these companies are looking for is an alternative network to help them to accommodate all that growth - and that is where we come in," said Carter.
Last week, Inteliquent said it generated revenue of $90.8 million in the second quarter of 2016, an increase of 71.6%, or $37.9 million, from $52.9 million of revenue in the second quarter of 2015. The growth was primarily driven by an increase in minutes of use, as well as an increase in the average rate per minute.
The company said its second quarter 2016 net income of $9 million compared to $10.0 million in second quarter of 2015, while its adjusted EBITDA of $19.2 million in second quarter 2016 compared to $21.0 million in second quarter 2015.
Minutes of use increased 55.8% to 53.9 billion minutes in the second quarter of 2016, compared to 34.6 billion minutes in the second quarter of 2015. The average rate per minute for the second quarter of 2016 was $0.00168, an increase of 9.8%, compared to $0.00153 for the second quarter of 2015.