More Bad News for Helio

A new MocoNews post said that EarthLink on Thursday shed some light on how well Helio—one of the last remaining MVNOs in the U.S.—is doing, and it doesn’t look too bright. Here are some new facts:

- While revenues jumped to $171 million in 2007, Helio’s losses widened by 41 percent to almost $327 million.

- The company has $45 million in cash on hand, plus another $20 million that SK Telecom invested this month.

- Founder Sky Dayton is still in transition from CEO to chairman.

- At the end of last year, Helio had about 180,000 subscribers. That number has been inching up, probably due to Helio being one of the first carriers to offer the $99 unlimited plans that are suddenly en vogue. Still, that’s significantly less than the 250,000 subscribers the company had hoped to have by the end of 2007.

In other words, it still doesn’t look good.

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