The People's Operator, a commercial mobile virtual network operator, has confirmed that revenues for 2017 will be approximately £3.55m, in line with management forecasts.
Average revenue per user (ARPU) for UK pay as you go customers was £11.02 in 2017, down from £13.22 the previous year.
ARPU for UK pay monthly customers fell to £9.78 from £12.50 the year before.
The group said ARPUs were affected through discounting via affiliate platforms. This discounting has now been discontinued.
Average revenue per user in the US was $20.15, down from $22.09 a year earlier.
The overall airtime margin for 2017 was more than five times that of 2016, reflecting ongoing reductions in wholesale rates.
Year-on-year churn has more than halved in the UK and has declined by over 50% in the US.