NBN Co has recorded a loss of $252 million and revenue of $29 million in its 2015 first quarter financial results.
The company also incurred $677 million in capital expenditure for the period, taking the total to $6.3 billion.
It incurred operating expenses of $281 million and received an additional $997 million in equity funding from the Commonwealth in the period, bringing the total to $9.4 billion.
Average Revenue Per User grew to $39 – up 4 per cent since June.
The number of serviceable homes rose 16 per cent in the quarter to 640,000 - more than double the figure for the corresponding quarter last year.
The percentage increase in active users was up 27 per cent in the period to 267,000 (172 per cent year-on-year).
This in turn delivered revenue of $29 million – up 32 per cent on 2014 first quarter revenue of $9 million.
NBN Co chief executive, Bill Morrow, said these results reflected the improvements the company was making in construction, product development and the end user experience.
"They represent solid progress towards our FY15 targets of one million serviceable homes and 480,000 end users,” he said.
Morrow said the move towards the new rollout model – that aims to connect 8 million homes and deliver $4 billion in revenues by 2020 – was also gathering momentum.
“The steps we’re taking to deliver the multi-technology mix will put us in the best possible position to start delivering exponential growth in the pace of the rollout and our revenues,” he said.
He said the company was continuing to negotiate potential changes to agreements with Telstra and Singtel Optus, including for the use of their network assets.
The company is set to transition to the new "multi-technology mix" roll out model in the second half of 2015, according to a statement.
This follows NBN Co and Telstra starting construction on the first of 1,300 nodes in NSW and Queensland as part of a trial which marries fibre optic cables with Telstra copper wires.
The trial aims to deliver high speed broadband to more than 200,000 households in 140 suburbs.
The company has released a list of areas where work is underway to bring the NBN to more than 200,000 premises in parts of the Central Coast, Newcastle and Lake Macquarie regions in New South Wales as well as the Greater Brisbane, Moreton Bay and Wide Bay Burnett regions in Queensland.
Three additional internet service providers – Optus, M2 and iiNet – are participating in Fibre-to-the-Node end user trials in Umina, NSW.
The average peak download and upload speeds are 90Mbps and 36Mbps respectively.
This trial involves service providers testing speeds between the end user device (modem) and their networks.
According to an NBN statement, end user experience including the speeds achieved over the NBN depends on the technology over which services are delivered to the end user’s premises and some factors outside our control like equipment quality, software, broadband plans, length and quality of copper lines and how the end user’s service provider designs its network.
The company is also nearing completion of the required nodes in the second trial area, the Melbourne suburb of Epping.
The company has established a new internal group to lead the integration of Hybrid Fibre Coaxial (HFC) cables into the NBN. Existing HFC assets already pass more than 3 million homes.
NBN Co had also met a key milestone with the integration into the network of all 121 Points of Interconnect (a nationwide network of exchange buildings where telephone companies and internet service providers can connect their networks to the NBN).
The NBN transit network, which will use 54,000 kilometres of fibre to link all 121 POIs, remains on track for completion this year.