Seeking Alpha

Towerstream -5.7% AH on revenue miss, light guidance

  • Towerstream (NASDAQ:TWER) expects Q3 revenue of $8.2M-$8.7M, below a $9.4M consensus. Fixed wireless segment revenue is expected to be in a range of $7.4M-$7.7M, and shared wireless infrastructure revenue in a range of $800K-$1M.
  • Q2 fixed wireless revenue -6% Y/Y to $7.57M; shared infrastructure revenue rose over 3x to $739K. Churn fell to 1.71% from 2.33% in Q1 and 2.34% a year ago, while ARPU rose to $760 from $758 in Q1 and $740 a year ago. Towerstream has seen 13 customer installations for a $699/month 100 Mbps service.
  • Gross margin fell to 26% from 30% in Q1 and 37% a year ago. GAAP opex rose 1.4% to $14.6M.
  • Net cash flow was -$4.6M. Towerstream ended Q2 $17.3M in cash, down from $21.2M at the end of Q1.
  • Shares are close to their 52-week low of $1.45.
  • Q2 results, PR
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