Boingo CEO: Profitability Around The Corner, No Need to Raise Cash

Shares of Boingo Wireless (WIFI) fell 13 percent in 2015 as the Wi-Fi provider continued to roll-out its services in airports and stadiums worldwide. The company’s CEO David Hagan said this year will show increasing profitability even as it 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 percent 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 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 percent of North America’s top 50 airports and more than 30 percent 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.