Ting Mobile saw its churn rate get worse, even though it managed to add over 3,000 new accounts and 8,000 devices over the three-month period. From the 2.4 percent it posted during the second quarter, the carrier’s customer turnover rate has risen to 2.8 percent in Q3. Still, the MVNO enters into the final quarter of 2016 with a total of 147,000 accounts and 235,000 devices to its name.
In Q3 2016, Ting Mobile is also reporting $18.4 million in wireless service revenues, which represents an improvement over the $15.4 million it posted during the same quarter one year ago. As revealed by Elliot Noss, the chief executive officer of Ting, the company has shown growth in both Ting Mobile and Domain Services (apart from wireless and fixed-line services, Ting also sells domain names) by registering a 11 percent year-over-year increase in total revenues. Moreover, the company also recorded improvements in terms of net income (up 50 percent to $4.7 million) and EBITDA (up 48 percent).
Noss is expecting the next quarter to be even more competitive than Q3, especially after cable companies have started going into the MVNO market. For instance, cable giants Charter Communications and Comcast have already bared their respective plans to introduce wireless services to customers in the next few months.
As an MVNO, Ting Mobile leases network capacity from major US wireless carrier Sprint. However in the later part of 2014, the operator started supporting a GSM network, which many speculate to be T-Mobile’s.
Earlier this year, Ting picked up 3000 customers by offering free service to customers of failing T-Mobile MVNO PTel Mobile. 1000 of those customers left when their free service ran out. For a decade and a half, PTel had been an MVNO using T-Mobile’s network, but it discontinued its operations back in February early this year.