In their recent analyst call, Covad gives these numbers: "We've about 530,000 access lines in service, about 2,500 VoIP sites and about 3,100 wireless customers..... We did roughly $68 million in the fourth quarter for wholesale and about $41 million in direct."
This was most striking: "For wholesale, we target kind of the barbell approach. We go into the mass markets with our wholesale partners like EarthLink and AT&T and AOL, most recently with United Online which we announced in the first quarter. We also go upstream to larger enterprises. For instance AT&T and Verizon use Covad's network to deploy services out of footprint for them today."
"The other side of the equation, cash; in 2006 as I said before, we took a $50 million investment from EarthLink, $10 million in equity, $40 million in convertible note, to develop and deploy this next-generation network. We really look at that as specific project, a specific point in time that is very strategic to us. So this cash growth shows, the cash growth in the company excluding that project."
"You'll see, we have about $167 million in debt as comprised primarily of two instruments. One is a convertible note that we did in 2004, which is a $125 million convert, which becomes mature in March of 2009. Then the other element is the $40 million portion of the EarthLink investment. We ended the year with total cash at $81 million." Plus a $50M line of credit for liquidity.
"We also will look at opportunities to leverage our wireless assets with FiberTower and Nextlink." [Source]
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