TOWERSTREAM CORP
towerstream.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2018 10-K, filed Apr 1, 2019. Its latest SEC filing is a 10-K/A from Apr 26, 2019.
10-K for FY2018, filed Apr 1, 2019
The sections below describe the company as of the FY2018 annual report.
What Did They Do?
Provides fixed wireless broadband internet and short-term connections to businesses, and last-mile internet service to telecommunications carriers.
10-K for FY2018, filed Apr 1, 2019Towerstream Corporation (“Towerstream”, “we”, “us”, “our” or the “Company”) is primarily a provider of fixed wireless services to…View ↗
We offer fixed wireless business internet service in three product categories: Business Class Internet, Temporary Internet Solutions, and…View ↗
Under the Temporary Internet Service offering, we are able to provide solutions for a client’s short-term connection requirements in…View ↗
In August 2017, the Company created a new wholesale division that provides last-mile services to telecommunications carriers in North…View ↗
How Did They Make Money?
Business customers are billed in advance each month for fixed wireless broadband service, generally under service agreements; charges cover the service period, and some customers pay for service in advance.
10-K for FY2018, filed Apr 1, 2019Characteristics of our Revenues and ExpensesView ↗
We provide fixed wireless business internet service to companies ranging from small businesses to fortune 500 companies. The Company…View ↗
Customers are billed monthly in advance. Deferred revenues are recognized for that portion of monthly charges not yet earned as of the end…View ↗
$24.6M
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10-K for FY2018, filed Apr 1, 2019
$24.6M ↗
Who Were Their Customers?
Businesses ranging from small firms to Fortune 500 companies buy broadband through the company’s direct sales team and indirect channels. Telecommunications carriers can buy last-mile services through the wholesale division.
10-K for FY2018, filed Apr 1, 2019We offer fixed wireless business internet service in three product categories: Business Class Internet, Temporary Internet Solutions, and…View ↗
In August 2017, the Company created a new wholesale division that provides last-mile services to telecommunications carriers in North…View ↗
We employ an inside direct sales force model to sell our services to business customers. As of December 31, 2018, we employed two direct…View ↗
Sales through indirect channels comprised 34% of our total revenues during the year ended December 31, 2018 compared with 35% during the…View ↗
Did Revenues Turn Into Profits?
No. It lost $10.2M in FY2018.
10-K for FY2018, filed Apr 1, 2019
10-K for FY2018, filed Apr 1, 2019
−$3.6MView ↗
10-K for FY2018, filed Apr 1, 2019
−$10.2MView ↗
10-K for FY2018, filed Apr 1, 2019
−$3MView ↗
How Were They Changing?
Shrank. Revenue fell 18% in 4 years, from $29.9M in FY2014 to $24.6M in FY2018, about 5% a year.
Exited shared wireless
The older report described a shared rooftop and Wi-Fi business and said Towerstream was exiting it; the latest report centers on fixed wireless services.
10-K for FY2015, filed Mar 18, 2016 10-K for FY2018, filed Apr 1, 2019In January 2013, the Company incorporated a wholly-owned subsidiary, Hetnets Tower Corporation (“Hetnets”), to operate a new business…View ↗
Towerstream Corporation (“Towerstream”, “we”, “us”, “our” or the “Company”) is primarily a provider of fixed wireless services to…View ↗
Added wholesale last-mile service
The older report described shared rooftop and Wi-Fi services; the latest adds last-mile internet service for telecommunications carriers through a wholesale division.
10-K for FY2015, filed Mar 18, 2016 10-K for FY2018, filed Apr 1, 2019In January 2013, the Company incorporated a wholly-owned subsidiary, Hetnets Tower Corporation (“Hetnets”), to operate a new business…View ↗
In August 2017, the Company created a new wholesale division that provides last-mile services to telecommunications carriers in North…View ↗
Who Did They Compete With?
Competes with Verizon Communications, AT&T, Comcast, Spectrum Communications, Cox Communications, and Hughes Network Systems
10-K for FY2018, filed Apr 1, 2019We face competition from traditional wireline operators in terms of price, performance, discounted rates for bundles of services, breadth…View ↗
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