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IPASS INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2018 10-Q, filed Nov 13, 2018. Its latest SEC filing is a 15-12G from Mar 6, 2019.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Provides mobile Wi-Fi access and connectivity software to enterprises and strategic partners that distribute the service to consumers.

How Did They Make Money?

Enterprise customers pay through usage-based or flat-rate plans; under UNLIMITED, they pay a set price per subscriber each month for access to the hotspot network.

FY2017 revenue

Who Were Their Customers?

iPass sells directly through its global sales force and indirectly through resellers and strategic partners. Enterprise customers range from large to small; partner channels include device makers, loyalty programs, software providers and communications companies.

Customers above 10% of revenue, FY2017
of revenue from one customer
FY2015: 10% from one customer

Did Revenues Turn Into Profits?

No. It lost $20.6M in FY2017.

Operating income, FY2017
−37% of revenue
▲ +173% (Loss) vs FY2016 (−$7.3M, −12%)
Net income, FY2017
−38% of revenue
▲ +165% (Loss) vs FY2016 (−$7.8M, −12%)
Free cash flow, FY2017
−23% of revenue
▲ +104% (Loss) vs FY2016 (−$6.1M, −10%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q3 FY2018, the three months to Sep 30, 2018
Revenue
▼ −31%
vs $13.4M in Q3 FY2017
Net income
▼ −15% (Loss)
vs −$6.7M in Q3 FY2017
  • Feb 19, 2019 Pareteum completed its acquisition of iPass iPass became Pareteum’s wholly owned subsidiary, and its shares were delisted from Nasdaq.

Broader customer reach The older report framed Wi-Fi access around business travelers and large corporations; the latest describes service for mobile-device users, enterprises from large to small, and partner channels aimed at consumers.

SDK and analytics offerings The older report centers on Open Mobile connectivity and managing mobile workforces; the latest also describes an SDK for partners to build apps with iPass technology and a Veri-Fi analytics service.

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