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Summary - Funding Rounds

Founding Date

1996

Total Funding

$71 m

Investors

In total, iPass had raised $71 m. iPass is a subsidiary of Pareteum

iPass Revenue Breakdown

Embed Graph

iPass revenue breakdown by geographic segment: 41.0% from United States, 49.0% from Europe, Middle East and Africa, 9.0% from Asia Pacific and 1.0% from Other

iPass Income Statement

Quarterly

USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

35.5m34.4m33.3m32.2m30.8m29.6m28.7m26.9m25.3m17.8m17.3m16.6m15.6m15.0m14.7m16.5m15.9m14.3m13.5m13.4m11.4m10.5m9.3m

Cost of goods sold

17.2m15.6m14.6m13.8m12.6m12.8m12.4m12.1m11.9m7.7m7.6m6.7m7.0m7.2m7.4m8.5m8.5m9.6m9.6m10.3m6.8m6.3m5.7m

Gross profit

18.3m18.8m18.7m18.4m18.2m16.9m16.3m14.8m13.5m10.1m9.7m9.9m8.6m7.8m7.3m8.0m7.4m4.7m3.9m3.1m4.6m4.2m3.6m

Gross profit Margin, %

52%55%56%57%59%57%57%55%53%57%56%60%55%52%49%49%47%33%29%23%40%40%38%

Sales and marketing expense

5.0m5.4m5.4m5.1m4.5m4.9m4.4m4.4m5.0m4.2m3.5m3.2m2.4m2.5m2.8m2.9m2.7m2.5m2.6m2.5m2.5m2.4m2.8m

R&D expense

3.5m3.7m3.7m3.4m3.3m3.6m3.4m3.2m3.4m2.9m2.9m3.0m2.5m2.5m2.1m1.8m1.6m2.0m2.1m1.9m2.0m2.0m1.8m

General and administrative expense

5.2m5.1m5.3m5.2m5.6m6.2m5.3m4.9m5.0m4.2m4.3m4.2m4.0m3.1m3.0m2.8m2.6m2.8m2.5m3.4m2.6m3.0m2.4m

Operating expense total

19.2m19.6m19.8m19.2m18.7m20.2m17.8m17.2m18.8m14.7m14.5m13.4m14.6m11.1m10.8m9.2m8.7m8.9m8.8m9.5m8.4m8.8m8.3m

EBIT

(939.0k)(873.0k)(1.1m)(840.0k)(434.0k)(3.3m)(1.5m)(2.3m)(5.3m)(4.6m)(4.8m)(3.5m)(6.0m)(3.3m)(3.5m)(1.2m)(1.2m)(4.2m)(4.9m)(6.4m)(3.8m)(4.6m)(4.7m)

EBIT margin, %

(3%)(3%)(3%)(3%)(1%)(11%)(5%)(9%)(21%)(26%)(28%)(21%)(39%)(22%)(24%)(7%)(8%)(29%)(37%)(48%)(33%)(43%)(51%)

Interest expense

21.0k5.0k6.0k12.0k14.0k14.0k8.0k7.0k43.0k572.0k

Interest income

15.0k5.0k3.0k3.0k4.0k4.0k3.0k2.0k33.0k33.0k29.0k

Pre tax profit

(1.0m)(802.0k)(1.1m)(871.0k)(496.0k)(3.3m)(1.6m)(2.5m)(5.4m)(4.7m)(4.5m)(3.3m)(6.3m)(3.4m)(3.6m)(1.3m)(1.3m)(4.2m)(5.1m)(6.6m)(3.9m)(4.5m)(5.6m)

Income tax expense

15.0k1.0k137.0k10.0k275.0k27.0k(41.0k)341.0k122.0k(4.0m)(1.4m)100.0k67.0k29.0k91.0k62.0k61.0k115.0k217.0k56.0k65.0k61.0k44.0k

Net Income

(1.1m)(803.0k)(1.3m)(881.0k)(771.0k)(3.4m)(1.6m)(2.8m)(5.5m)20.9m(4.4m)(3.4m)(6.4m)(3.4m)(3.7m)(1.4m)(1.3m)(4.3m)(5.3m)(6.7m)(4.0m)(4.5m)(5.6m)

iPass Balance Sheet

Annual

USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

25.4m26.8m24.0m33.8m20.3m16.1m5.2m

Accounts Receivable

21.3m17.3m15.3m10.1m9.7m8.7m

Prepaid Expenses

5.9m5.1m4.3m4.3m2.8m1.6m

Current Assets

52.7m49.1m43.6m48.2m33.1m30.0m16.2m

PP&E

4.0m6.5m8.4m6.2m4.0m2.5m1.3m

Total Assets

63.1m60.1m54.9m55.3m37.8m33.2m18.4m

Accounts Payable

8.7m7.5m9.3m7.3m6.3m7.1m9.0m

Current Liabilities

22.1m19.9m21.6m14.9m14.0m13.4m16.5m

Total Liabilities

25.7m23.2m25.7m16.8m15.2m14.5m17.6m

Common Stock

59.0k61.0k65.0k65.0k65.0k71.0k

Additional Paid-in Capital

209.6m213.5m218.1m220.4m220.0m223.8m226.5m

Retained Earnings

(172.2m)(176.6m)(188.9m)(182.0m)(197.4m)(205.2m)(225.8m)

Total Equity

37.4m36.9m29.2m38.5m22.6m18.6m791.0k

Financial Leverage

1.7 x1.6 x1.9 x1.4 x1.7 x1.8 x23.3 x

Quarterly

USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

26.1m26.3m25.8m25.3m26.5m24.8m25.0m25.2m20.1m41.7m37.1m28.6m26.9m24.2m17.2m16.1m17.2m13.5m10.4m7.1m2.8m8.2m4.9m

Accounts Receivable

22.4m22.2m21.1m18.6m19.4m21.3m18.1m16.7m14.3m14.1m12.3m11.1m10.4m10.2m10.1m11.4m10.7m10.9m9.4m9.6m6.9m8.2m7.9m

Prepaid Expenses

6.4m6.2m5.7m5.8m5.7m4.6m5.8m4.8m3.8m3.2m3.1m4.2m2.6m2.5m2.4m1.6m1.4m1.6m1.7m1.6m2.1m1.5m1.0m

Current Assets

54.9m54.7m52.6m49.7m51.5m50.7m48.9m46.7m38.2m58.9m52.5m44.0m40.0m36.9m30.0m29.4m29.7m26.2m21.6m18.4m12.4m18.3m14.3m

PP&E

3.7m3.8m5.3m6.1m6.5m6.5m6.2m6.4m8.2m7.4m6.8m5.8m5.2m4.6m3.4m2.8m2.3m2.2m1.9m1.7m1.1m1.0m1.0m

Total Assets

66.1m65.8m64.1m61.3m62.8m61.3m58.4m56.2m49.2m67.4m60.3m50.5m45.9m42.1m34.1m32.9m32.7m29.1m24.3m20.8m14.8m20.2m16.2m

Accounts Payable

9.8m10.6m9.5m7.0m8.1m9.5m8.5m9.1m8.5m8.5m8.0m6.3m6.2m7.0m7.0m6.8m5.9m6.6m6.9m9.7m9.7m6.0m8.1m

Current Liabilities

25.9m25.8m23.2m20.4m21.8m23.6m21.3m20.9m21.3m19.4m16.8m13.9m16.1m16.0m13.9m13.0m12.2m13.3m13.1m16.0m16.6m14.5m15.4m

Long-term debt

6.8m7.1m

Total Debt

6.8m7.1m

Total Liabilities

29.4m29.3m27.0m24.1m25.3m26.5m23.9m23.4m24.9m21.7m18.8m15.8m17.8m17.3m15.2m14.2m13.4m14.4m14.3m17.1m17.0m22.4m23.7m

Common Stock

58.0k59.0k61.0k61.0k61.0k62.0k64.0k64.0k65.0k65.0k65.0k65.0k65.0k65.0k65.0k65.0k68.0k68.0k68.0k68.0k73.0k82.0k82.0k

Additional Paid-in Capital

208.4m209.0m210.6m211.5m212.5m214.7m215.9m217.2m218.7m219.2m219.4m220.0m219.8m220.0m220.0m221.2m223.1m224.1m224.7m225.1m227.3m231.8m232.1m

Retained Earnings

(171.8m)(172.6m)(173.5m)(174.4m)(175.2m)(180.0m)(181.6m)(184.4m)(194.5m)(173.6m)(178.0m)(185.4m)(191.8m)(195.2m)(201.2m)(202.6m)(203.9m)(209.5m)(214.8m)(221.5m)(229.6m)(234.1m)(239.8m)

Total Equity

36.7m36.5m37.1m37.2m37.4m34.8m34.4m32.8m24.3m45.7m41.5m34.7m28.1m24.8m18.9m18.7m19.3m14.7m10.0m3.7m(2.2m)(2.2m)(7.5m)

Financial Leverage

1.8 x1.8 x1.7 x1.6 x1.7 x1.8 x1.7 x1.7 x2 x1.5 x1.5 x1.5 x1.6 x1.7 x1.8 x1.8 x1.7 x2 x2.4 x5.6 x-6.7 x-9.1 x-2.1 x

iPass Cash Flow

Annual

USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(3.0m)(4.4m)(12.3m)7.0m(15.5m)(7.8m)(20.6m)

Depreciation and Amortization

2.3m2.1m2.8m3.3m2.9m2.5m1.6m

Accounts Receivable

2.4m4.1m1.8m2.8m234.0k(2.6m)3.4m

Accounts Payable

(5.1m)(1.1m)2.1m(1.6m)(946.0k)414.0k2.3m

Cash From Operating Activities

(5.5m)3.5m(2.4m)(14.8m)(13.6m)(5.5m)(11.5m)

Purchases of PP&E

(1.8m)(4.5m)(2.3m)(1.3m)(812.0k)(581.0k)(813.0k)

Cash From Investing Activities

(746.0k)(3.5m)(1.6m)25.5m738.0k(581.0k)(813.0k)

Cash From Financing Activities

908.0k1.4m1.2m(899.0k)(641.0k)1.8m1.4m

Net Change in Cash

(5.3m)1.4m(2.8m)9.8m(13.5m)(4.2m)(10.9m)

Income Taxes Paid

564.0k375.0k261.0k259.0k233.0k242.0k235.0k

Quarterly

USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

(2.5m)(3.3m)(1.3m)(2.2m)(2.9m)(3.4m)(5.0m)(7.8m)(5.5m)15.3m10.9m(3.4m)(9.8m)(13.2m)(3.7m)(5.1m)(6.4m)(4.3m)(9.6m)(16.2m)(4.0m)(8.5m)(14.2m)

Depreciation and Amortization

1.2m1.7m623.0k1.2m1.7m600.0k1.3m1.9m803.0k1.7m2.5m746.0k1.5m2.2m706.0k1.4m2.0m454.0k796.0k1.1m198.0k346.0k502.0k

Accounts Receivable

1.4m1.5m334.0k2.9m2.1m(4.0m)(835.0k)552.0k1.1m(1.2m)519.0k(1.0m)(273.0k)(86.0k)(432.0k)(1.7m)(989.0k)1.4m2.8m2.6m1.9m463.0k743.0k

Accounts Payable

(3.7m)(3.0m)637.0k(1.6m)(681.0k)2.0m1.3m1.6m(935.0k)(446.0k)(903.0k)(1.2m)(1.2m)(251.0k)613.0k531.0k(382.0k)(435.0k)62.0k3.0m690.0k(3.0m)(899.0k)

Cash From Operating Activities

(4.7m)(4.2m)1.7m1.9m3.6m(2.0m)(1.5m)(1.8m)(3.2m)(8.2m)(12.2m)(4.8m)(7.3m)(9.8m)(2.7m)(4.1m)(4.3m)(2.4m)(5.5m)(8.5m)(2.9m)(9.4m)(12.3m)

Purchases of PP&E

(685.0k)(1.3m)(1.8m)(3.3m)(4.1m)(568.0k)(1.2m)(1.8m)(457.0k)(886.0k)(1.1m)(175.0k)(467.0k)(642.0k)(1.0k)(131.0k)(299.0k)(222.0k)(437.0k)(737.0k)(5.0k)(21.0k)(192.0k)

Cash From Investing Activities

(397.0k)(967.0k)(1.8m)(2.8m)(3.6m)(568.0k)(1.2m)(1.0m)(457.0k)26.0m25.7m(175.0k)933.0k908.0k(1.0k)(131.0k)(299.0k)(222.0k)(437.0k)(737.0k)(5.0k)(21.0k)(192.0k)

Cash From Financing Activities

422.0k708.0k420.0k741.0k1.1m530.0k912.0k1.2m(227.0k)(114.0k)(406.0k)(275.0k)(486.0k)(705.0k)(440.0k)123.0k1.5m10.0k263.0k264.0k539.0k12.5m12.2m

Net Change in Cash

(4.6m)(4.4m)373.0k(182.0k)1.1m(2.0m)(1.8m)(1.6m)(3.9m)17.7m13.1m(5.2m)(6.9m)(9.6m)(3.1m)(4.2m)(3.1m)(2.6m)(5.7m)(9.0m)(2.4m)3.0m(247.0k)

Interest Paid

385.0k

Income Taxes Paid

338.0k490.0k223.0k242.0k310.0k44.0k121.0k176.0k47.0k121.0k220.0k50.0k42.0k51.0k45.0k108.0k194.0k46.0k116.0k180.0k47.0k36.0k130.0k

iPass Ratios

USDQ2, 2011

Financial Leverage

1.8 x

iPass Operating Metrics

FY, 2016

Countries

120

Hotspots

60 m

iPass Employee Rating

2.8122 votes
Culture & Values
2.8
Work/Life Balance
3.3
Senior Management
2.4
Salary & Benefits
3.4
Career Opportunities
2.4
Source