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NII HOLDINGS INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2019 10-Q, filed Nov 5, 2019. Its latest SEC filing is a SC 13G/A from Feb 16, 2021.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Provides wireless communication services in Brazil to individual consumers and businesses, including voice, data and roaming.

How Did They Make Money?

Subscribers are charged for voice, data and messaging access over service contracts; handsets and accessories are billed at the time of sale.

FY2018 revenue

Who Were Their Customers?

Individual consumers and businesses buy wireless service through direct sales representatives, dealers, stores, kiosks and online channels. Most subscribers get a SIM card from Nextel Brazil and obtain handsets separately.

Did Revenues Turn Into Profits?

No. It lost $143.1M in FY2018.

Operating income, FY2018
−7% of revenue
▼ −84% (Loss) vs FY2017 (−$260.9M, −30%)
Net income, FY2018
−23% of revenue
▼ −51% (Loss) vs FY2017 (−$293.1M, −34%)
Free cash flow, FY2018
−30% of revenue
▲ +21% (Loss) vs FY2017 (−$153.7M, −18%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q3 FY2019, the three months to Sep 30, 2019
Net income
▼ −27% (Loss)
vs −$41M in Q3 FY2018
  • Dec 19, 2019 CFO departure and workforce reduction planned after Brazil sale The board set Daniel Freiman's target severance date for March 1, 2020, and Timothy Mulieri was to become CFO.
  • Dec 18, 2019 Completed Brazil sale; announced delisting and planned dissolution América Móvil acquired indirect ownership of Nextel Brazil; NII planned to delist its common stock.
  • Dec 11, 2019 Nextel Brazil CEO to leave as CFO becomes acting principal executive

Shrank. Revenue fell 83% in 4 years, from $3.7B in FY2014 to $620.7M in FY2018, about 36% a year.

Retired iDEN service The older report describes iDEN alongside WCDMA and LTE; the latest says Nextel Brazil disconnected its remaining iDEN subscribers and describes its network as WCDMA and LTE.

Who Did They Compete With?

Competes with Vivo, Claro, Telecom Italia Mobile, and TNL PCS

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