Spok Reports Fourth Quarter And Full Year 2025 Results
MWN-AI** Summary
Spok Holdings, Inc. (NASDAQ: SPOK) announced its fourth-quarter and full-year financial results for 2025, reporting notable growth and strategic developments. For the full year, net income rose 6.1% from 2024, signifying a positive trajectory for the company. In Q4 specifically, Spok's software operations bookings surged by 14% year-over-year, driven by the acquisition of several significant contracts, including 12 six-figure and two seven-figure deals. Software revenue, which saw nearly 5% annual growth, was bolstered by advancements in managed services.
The company's total revenue for Q4 was approximately $33.9 million, slightly down from Q4 2024, while year-to-date revenue reached around $139.7 million, a modest increase of 1.5%. Wireless revenue showed a decline of 3%, attributed to an ongoing reduction in paging units, although the average revenue per wireless unit (ARPU) improved by 1.2% to $8.26.
Spok's CEO, Vincent D. Kelly, expressed pride in the team's efforts to regain momentum and emphasized the company’s balance between returning capital to shareholders—totaling $27.3 million in 2025—and investing in growth. The Board of Directors declared a regular quarterly dividend of $0.3125 per share for March 2026.
Going forward, Spok provided financial guidance for 2026, projecting total revenues of $136 to $143 million, and an adjusted EBITDA increase from 2025. The company remains committed to innovation and enhancing its healthcare communication solutions, underscoring its position as a key player in the sector. Cash reserves stood at $25.3 million with no debt, illustrating a strong financial foundation for future growth.
MWN-AI** Analysis
Spok Holdings, Inc. (NASDAQ: SPOK) delivered robust financial results for Q4 and FY 2025, showing a strong recovery from earlier challenges and enhanced operational momentum as the company gears up for continued success in 2026. Key indicators such as a notable 14% increase in software operations bookings year-over-year and a stunning 83% increase from the prior quarter highlight Spok's resilience and market positioning. Moreover, while wireless revenue is experiencing a slight decline, the growth in managed services and overall software revenue—up nearly 5%—shows a positive trend for future growth.
Investors should pay attention to several critical metrics. The software backlog of $58.2 million underscores Spok's commitment to multi-year contracts, pivotal for revenue stability. A slightly improved wireless ARPU and reduced churn further enhance customer reliability, indicating a shift towards a more sustainable model.
Spok’s dedication to returning capital is evident through its $27.3 million in distributions to shareholders over the last year, maintaining its quarterly dividend at $0.3125 per share. This approach not only rewards current investors but also signals management’s confidence in future cash flows, further stressing the importance of share buybacks and dividends in Spok’s strategy.
Looking ahead, the financial guidance for FY 2026 suggests a continuation of the upward trajectory in consolidated revenue, albeit with pressures in the wireless segment. This projection could be viewed favorably for long-term growth investors.
Overall, Spok Holdings presents an intriguing opportunity for investors. With its solid operational platform, a clear focus on innovation and customer retention, and a strategic approach to capital allocation, Spok appears poised to leverage its current position into sustained growth. Stakeholders may benefit from increased confidence, given the combined indicators of operational health and strategic foresight into the evolving healthcare communications landscape.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Q4 Software Operations Bookings Up 14% from Prior Year, and Nearly 83% From the Prior Quarter
Year-Over-Year Managed Services Revenue Growth Drives Nearly 5% Growth in Software Revenue
Company Provides 2026 Financial Guidance
Spok Holdings, Inc. (NASDAQ: SPOK), a global leader in healthcare communications, today announced results for the fourth quarter and full year ended December 31, 2025. In addition, the Company’s Board of Directors declared a regular quarterly dividend of $0.3125 per share, payable on March 31, 2026, to stockholders of record on March 16, 2026.
Recent Highlights:
- Full year net income up 6.1% from 2024
- Fourth quarter software operations bookings included 12 six- and 2 seven-figure customer contracts
- Software backlog totaled $58.2 million at December 31, 2025, as the Company continues to focus on multi-year and managed services bookings
- Fourth quarter 2025 wireless average revenue per unit (ARPU) was $8.26, up 1.2% on a year-over-year basis
- Wireless quarterly net churn improves to 1.3%, a 12-basis point improvement from the prior quarter
- Capital returned to stockholders in the fourth quarter of 2025 totaled $6.4 million
- Research and development costs totaled $12.2 million in 2025, supporting Spok's investment in the Company's industry-leading solutions to fuel future growth
- Cash and cash equivalents balance of $25.3 million at December 31, 2025, and no debt
"I am very proud of our Spok team as they were able to regain the positive momentum that we saw in the beginning of 2025,” said Vincent D. Kelly, chief executive officer of Spok Holdings, Inc. “In the fourth quarter, we generated a nearly 83% sequential increase in software operations bookings, while continued growth in average revenue per wireless unit drove a slight increase in wireless revenue. Our focus continues to be to generate cash flow and return capital to stockholders, while responsibly investing for future growth. In 2025, we demonstrated our ability to do this and have positioned ourselves to continue this tradition in 2026. In addition to returning $27.3 million to our stockholders in 2025, we continued to invest in our Spok Care Connect and Wireless solutions with over $12 million devoted to developing our world-class product platform. We believe that these investments will continue to create stockholder value.
"Spok continues its proud legacy of balancing the necessary investments in our products and infrastructure with returning capital to our stockholders," continued Kelly. "In 2025, we generated $29 million of adjusted EBITDA and returned the majority of that amount to our stockholders in the form of our regular quarterly dividend. After hitting its low point in the first quarter due to seasonal working capital needs, our cash, and cash equivalents balances continued to grow throughout the year, totaling nearly $25.3 million at year-end, up approximately $4 million from the prior quarter.
"Based on our positive momentum in the fourth quarter of 2025, and our visibility into our very robust product sales pipeline, we provided full year 2026 financial guidance estimates for revenue and adjusted EBITDA. At the high-end of the guidance range, we are on track to again grow consolidated revenue in 2026, on a year-over-year basis, with continued growth in software revenue, partially offset with declines in wireless revenue. The midpoint of our adjusted EBITDA guidance is also up from 2025." concluded Kelly.
Financial Highlights :
For the three months ended December 31, | For the twelve months ended December 31, | ||||||||||||||||
(Dollars in thousands) | 2025 | 2024 | Change (%) | 2025 | 2024 | Change (%) | |||||||||||
Revenue | |||||||||||||||||
Wireless revenue | |||||||||||||||||
Paging revenue | $ | 16,844 | $ | 17,750 | (5.1 | )% | $ | 68,559 | $ | 70,958 | (3.4 | )% | |||||
Product and other revenue | 970 | 620 | 56.5 | % | 3,963 | 2,565 | 54.5 | % | |||||||||
Total wireless revenue | $ | 17,814 | $ | 18,370 | (3.0 | )% | $ | 72,522 | $ | 73,523 | (1.4 | )% | |||||
Software revenue | |||||||||||||||||
License | 1,246 | 1,283 | (2.9 | )% | 7,347 | 7,648 | (3.9 | )% | |||||||||
Professional services - projects | $ | 3,545 | $ | 3,503 | 1.2 | % | $ | 15,496 | $ | 14,616 | 6.0 | % | |||||
Professional services - managed services | 1,981 | 1,226 | 61.6 | % | 6,623 | 3,259 | 103.2 | % | |||||||||
Hardware | 197 | 269 | (26.8 | )% | 1,287 | 1,382 | (6.9 | )% | |||||||||
Maintenance and subscription | 9,078 | 9,241 | (1.8 | )% | 36,433 | 37,225 | (2.1 | )% | |||||||||
Total software revenue | $ | 16,047 | $ | 15,522 | 3.4 | % | $ | 67,186 | $ | 64,130 | 4.8 | % | |||||
Total revenue | $ | 33,861 | $ | 33,892 | (0.1 | )% | $ | 139,708 | $ | 137,653 | 1.5 | % |
For the three months ended December 31, | For the twelve months ended December 31, | ||||||||||||||||
(Dollars in thousands) | 2025 | 2024 | Change (%) | 2025 | 2024 | Change (%) | |||||||||||
GAAP | |||||||||||||||||
Operating expenses | $ | 29,920 | $ | 29,254 | 2.3 | % | $ | 119,998 | $ | 118,688 | 1.1 | % | |||||
Net income | $ | 2,930 | $ | 3,644 | (19.6 | )% | $ | 15,881 | $ | 14,965 | 6.1 | % | |||||
Cash and cash equivalents (as of period end) | $ | 25,280 | $ | 29,145 | (13.3 | )% | $ | 25,280 | $ | 29,145 | (13.3 | )% | |||||
Capital returned to stockholders | $ | 6,398 | $ | 6,336 | 1.0 | % | $ | 27,259 | $ | 26,381 | 3.3 | % | |||||
Non-GAAP | |||||||||||||||||
Adjusted operating expenses | $ | 28,852 | $ | 28,313 | 1.9 | % | $ | 116,111 | $ | 113,436 | 2.4 | % | |||||
Adjusted EBITDA | $ | 6,702 | $ | 7,055 | (5.0 | )% | $ | 29,005 | $ | 29,173 | (0.6 | )% |
For the three months ended December 31, | For the twelve months ended December 31, | ||||||||||||||||
(Dollars in thousands, excluding units in service and ARPU) | 2025 | 2024 | Change (%) | 2025 | 2024 | Change (%) | |||||||||||
Key Statistics | |||||||||||||||||
Wireless units in service (000's) (as of period end) | 675 | 720 | (6.3 | )% | 675 | 720 | (6.3 | )% | |||||||||
Wireless average revenue per unit (ARPU) | $ | 8.26 | $ | 8.16 | 1.2 | % | $ | 8.20 | $ | 7.97 | 2.9 | % | |||||
Software operations bookings (1) | $ | 8,120 | $ | 7,124 | 14.0 | % | $ | 32,560 | $ | 34,083 | (4.5 | )% | |||||
Software backlog (as of period end) (2) | $ | 58,197 | $ | 62,439 | (6.8 | )% | $ | 58,197 | $ | 62,439 | (6.8 | )% | |||||
(1) Software operations bookings includes net new (i.e., new customers or incremental add-on sales to existing customers) sales of license, professional services, equipment, and first-year maintenance. | |||||||||||||||||
(2) Software backlog excludes $16.1 million and $5.6 million of contractual obligations that are deemed cancellable by the customer without significant penalty as of December 31, 2025 and 2024, respectively. |
Financial Outlook:
The Company also provided its financial guidance and expects the following for the full year 2026:
Current Guidance | ||||||
(Unaudited and in millions) | Full Year 2026 | |||||
From | To | |||||
Revenue | ||||||
Wireless | $ | 68.0 | $ | 71.0 | ||
Software | $ | 68.0 | $ | 72.0 | ||
Total Revenue | $ | 136.0 | $ | 143.0 | ||
Adjusted EBITDA | $ | 27.5 | $ | 32.5 |
2025 Fourth Quarter Call:
Management will host a conference call and webcast to discuss these financial results on Wednesday, February 25, 2026, at 5:00 p.m. Eastern Time. The presentation is open to all interested parties and may include forward-looking information.
Conference Call Details | ||
Date/Time: | Wednesday, February 25, 2026, at 5:00 p.m. ET | |
Webcast: | ||
U.S. Toll-Free Dial In: | 877-407-0890 | |
International Dial In: | 1-201-389-0918 |
To access the call, please dial in approximately ten minutes before the start of the call. For those unable to join the live call, an OnDemand version of the webcast will be available following the call under the URL link and on the investor relations website.
* * * * * * * * *
About Spok
Spok Holdings, Inc. (NASDAQ: SPOK), headquartered in Plano, Texas, is proud to be a global leader in healthcare communications. We deliver clinical information to care teams when and where it matters most to improve patient outcomes. Top hospitals rely on the Spok Care Connect® platform to enhance workflows for clinicians and support administrative compliance. Our customers send over 70 million messages each month through their Spok® solutions. Spok enables smarter, faster clinical communication. For more information, visit spok.com .
Spok is a trademark of Spok Holdings, Inc. Spok Care Connect and Spok Mobile are trademarks of Spok, Inc.
Non-GAAP Financial Measures
This press release contains the following non-GAAP financial measures: adjusted operating expenses and adjusted EBITDA. Adjusted operating expenses excludes depreciation and accretion expense, impairment of intangible assets and severance and restructuring costs. Adjusted EBITDA represents net income/(loss) before interest income/expense, income tax benefit/expense, depreciation and accretion expense, stock-based compensation expense, impairment of intangible assets, legal costs unrelated to core business activities and non-recurring in nature, and severance and restructuring. With respect to our expectations under "Financial Outlook" above, reconciliation of adjusted EBITDA to net income is not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and uncertainty with respect to certain items included in net income that are excluded from adjusted EBITDA, in particular, income tax benefit/expense, stock-based compensation expenses, impairment of intangible assets, severance and restructuring and other non-recurring expenses. These items can have unpredictable fluctuations based on unforeseen activity that is out of our control and/or cannot be reasonably predicted.
We believe that these non-GAAP financial measures provide useful information to management and investors regarding certain financial and business trends relating to Spok's financial condition and results of operations. We use these non-GAAP measures for financial, operational, and budgetary decision-making purposes, to understand and evaluate our core operating performance and trends, and to generate future operating plans. We believe that these non-GAAP financial measures permit us to more thoroughly analyze key financial metrics used to make operational decisions and allow us to assess our core operating results. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial measures with other software companies who present similar non-GAAP financial measures. We adjust for certain items because we do not regard these costs as reflective of normal costs related to the ongoing operation of the business in the ordinary course. In general, these items possess one or more of the following characteristics: non-cash expenses, factors outside of our control, items that are non-operational in nature, and unusual items not expected to occur in the normal course of business. We believe it is important to exclude these costs, given that they do not represent future operational costs under this strategic business plan. This allows us to assess the underlying performance of our core business under this new strategic business plan.
We do not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principle of these non-GAAP financial measures is that they exclude significant amounts that are required by GAAP to be recorded in the Company's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which items are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, management presents non-GAAP financial measures in connection with GAAP results. We urge investors to review the reconciliation of our non-GAAP financial measures to the comparable GAAP financial measures, which are included in this press release, and not to rely on any single financial measure to evaluate our business.
Safe Harbor Statement under the Private Securities Litigation Reform Act
Statements contained herein or in prior press releases which are not historical fact, such as statements regarding our future operating and financial performance, are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that may cause our actual results to be materially different from the future results expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expectations include, but are not limited to, our ability to manage wireless network rationalization to lower our costs without causing disruption of service to our customers; our ability to retain key management personnel and to attract and retain talent within the organization; the productivity of our sales organization and our ability to deliver effective customer support; our ability to identify potential acquisitions, finance, consummate and successfully integrate such acquisitions, and achieve the expected benefits of such acquisitions; economic conditions, such as recessionary economic cycles, the impact of trade disputes, tariffs and other trade protection measures, higher interest rates, inflation and higher levels of unemployment; risks related to our overall business strategy, including maximizing revenue and cash generation from our established businesses and returning capital to stockholders through dividends and repurchases of shares of our common stock; competition for our services and products from new technologies or those offered and/or developed from firms that are substantially larger and have much greater financial and human capital resources; continuing decline in the number of paging units we have in service with customers, commensurate with a continuing decline in our wireless revenue; our ability to address changing market conditions with new or revised software solutions; undetected defects, bugs, or security vulnerabilities in our products; our dependence on the United States healthcare industry; long sales cycle of our software solutions and services; our reliance on third-party vendors to supply us with wireless paging equipment; our ability to maintain successful relationships with our channel partners; our ability to protect our rights in intellectual property that we own and develop and the potential for material litigation claiming intellectual property infringement by us; our use of open source software, third-party software and other intellectual property; our reliance on data centers and other computer systems, hardware, software and satellite networks and telecommunications systems infrastructure (collectively, "IT Systems") and technologies provided by third parties, and technology systems and electronic networks supplied and managed by third parties; cyberattacks, data breaches, system disruptions or other compromises to our or our critical third parties’ IT Systems, data, products or services; our ability to realize the benefits associated with our deferred income tax assets; future impairments of our long-lived assets or goodwill; risks related to data privacy and protection-related laws and regulation; and our ability to manage changes related to regulation, including laws and regulations affecting hospitals and the healthcare industry generally, as well as other risks described from time to time in our periodic reports and other filings with the Securities and Exchange Commission. Although Spok believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Spok disclaims any intent or obligation to update any forward-looking statements.
Tables to Follow
SPOK HOLDINGS, INC. | ||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
(Unaudited and in thousands except share, per share amounts and ARPU) | ||||||||||||||||
For the three months ended | For the year ended | |||||||||||||||
12/31/2025 | 12/31/2024 | 12/31/2025 | 12/31/2024 | |||||||||||||
Revenue: | ||||||||||||||||
Wireless | $ | 17,814 | $ | 18,370 | $ | 72,522 | $ | 73,523 | ||||||||
Software | 16,047 | 15,522 | 67,186 | 64,130 | ||||||||||||
Total revenue | 33,861 | 33,892 | 139,708 | 137,653 | ||||||||||||
Operating expenses: | ||||||||||||||||
Cost of revenue (exclusive of items shown separately below) | 7,665 | 7,064 | 29,785 | 28,707 | ||||||||||||
Research and development | 3,022 | 2,626 | 12,216 | 11,694 | ||||||||||||
Technology operations | 6,149 | 6,091 | 24,603 | 25,635 | ||||||||||||
Selling and marketing | 4,194 | 4,349 | 17,703 | 16,220 | ||||||||||||
General and administrative | 7,822 | 8,183 | 31,804 | 31,180 | ||||||||||||
Depreciation and accretion | 858 | 938 | 3,429 | 4,148 | ||||||||||||
Severance and restructuring | 210 | 3 | 458 | 1,104 | ||||||||||||
Total operating expenses | 29,920 | 29,254 | 119,998 | 118,688 | ||||||||||||
% of total revenue | 88.4 | % | 86.3 | % | 85.9 | % | 86.2 | % | ||||||||
Operating income | 3,941 | 4,638 | 19,710 | 18,965 | ||||||||||||
% of total revenue | 11.6 | % | 13.7 | % | 14.1 | % | 13.8 | % | ||||||||
Interest income | 152 | 245 | 820 | 1,153 | ||||||||||||
Other income (expense) | 128 | 5 | 912 | (86 | ) | |||||||||||
Income before income taxes | 4,221 | 4,888 | 21,442 | 20,032 | ||||||||||||
Provision for income taxes | (1,291 | ) | (1,244 | ) | (5,561 | ) | (5,067 | ) | ||||||||
Net income | $ | 2,930 | $ | 3,644 | $ | 15,881 | $ | 14,965 | ||||||||
Basic net income per common share | $ | 0.14 | $ | 0.18 | $ | 0.77 | $ | 0.74 | ||||||||
Diluted net income per common share | $ | 0.14 | $ | 0.18 | $ | 0.75 | $ | 0.73 | ||||||||
Basic weighted average common shares outstanding | 20,606,387 | 20,276,596 | 20,554,970 | 20,241,073 | ||||||||||||
Diluted weighted average common shares outstanding | 21,070,034 | 20,577,508 | 21,054,447 | 20,565,287 | ||||||||||||
Cash dividends declared per common share | 0.3125 | 0.3125 | 1.2500 | 1.2500 |
SPOK HOLDINGS, INC. | ||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
(In thousands) | ||||||||
12/31/2025 | 12/31/2024 | |||||||
ASSETS | (Unaudited) | |||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 25,280 | $ | 29,145 | ||||
Accounts receivable, net | 22,644 | 21,950 | ||||||
Prepaid expenses | 8,909 | 9,362 | ||||||
Other current assets | 1,051 | 840 | ||||||
Total current assets | 57,884 | 61,297 | ||||||
Non-current assets: | ||||||||
Property and equipment, net | 5,723 | 5,952 | ||||||
Operating lease right-of-use assets | 6,477 | 8,249 | ||||||
Goodwill | 99,175 | 99,175 | ||||||
Deferred income tax assets, net | 36,530 | 41,686 | ||||||
Other non-current assets | 322 | 744 | ||||||
Total non-current assets | 148,227 | 155,806 | ||||||
Total assets | $ | 206,111 | $ | 217,103 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 3,975 | $ | 5,630 | ||||
Accrued compensation and benefits | 7,361 | 7,363 | ||||||
Deferred revenue | 30,452 | 28,366 | ||||||
Operating lease liabilities | 2,676 | 2,904 | ||||||
Other current liabilities | 4,645 | 4,511 | ||||||
Total current liabilities | 49,109 | 48,774 | ||||||
Non-current liabilities: | ||||||||
Asset retirement obligations | 4,902 | 5,945 | ||||||
Operating lease liabilities | 4,263 | 5,869 | ||||||
Other non-current liabilities | 1,458 | 1,769 | ||||||
Total non-current liabilities | 10,623 | 13,583 | ||||||
Total liabilities | 59,732 | 62,357 | ||||||
Commitments and contingencies | ||||||||
Stockholders' equity: | ||||||||
Preferred stock | $ | — | $ | — | ||||
Common stock | 2 | 2 | ||||||
Additional paid-in capital | 108,212 | 105,736 | ||||||
Accumulated other comprehensive loss | (1,756 | ) | (1,784 | ) | ||||
Retained earnings | 39,921 | 50,792 | ||||||
Total stockholders' equity | 146,379 | 154,746 | ||||||
Total liabilities and stockholders' equity | $ | 206,111 | $ | 217,103 |
SPOK HOLDINGS, INC. | |||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
(Unaudited and in thousands) | |||||||
For the year ended | |||||||
12/31/2025 | 12/31/2024 | ||||||
Operating activities: | |||||||
Net income | $ | 15,881 | $ | 14,965 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
Depreciation and accretion | 3,429 | 4,148 | |||||
Deferred income tax expense | 5,168 | 4,573 | |||||
Stock-based compensation | 5,007 | 4,956 | |||||
Gain on sale of domain name | (701 | ) | — | ||||
Gain on asset retirement obligation settlement | (123 | ) | — | ||||
Provisions for credit losses, service credits and other | 1,254 | 846 | |||||
Changes in assets and liabilities: | |||||||
Accounts receivable | (1,955 | ) | 506 | ||||
Prepaid expenses and other assets | 652 | (1,845 | ) | ||||
Net operating lease liabilities | (62 | ) | (36 | ) | |||
Accounts payable and other liabilities | (1,742 | ) | (1,184 | ) | |||
Deferred revenue | 2,141 | 1,993 | |||||
Net cash provided by operating activities | 28,949 | 28,922 | |||||
Investing activities: | |||||||
Purchases of property and equipment | (3,753 | ) | (3,209 | ) | |||
Proceeds from sale of domain name | 701 | — | |||||
Net cash used in investing activities | (3,052 | ) | (3,209 | ) | |||
Financing activities: | |||||||
Cash distributions to stockholders | (27,259 | ) | (26,381 | ) | |||
Proceeds from issuance of common stock under the Employee Stock Purchase Plan | 312 | 272 | |||||
Purchase of common stock for tax withholding on vested equity awards | (2,843 | ) | (2,428 | ) | |||
Net cash used in financing activities | (29,790 | ) | (28,537 | ) | |||
Effect of exchange rate on cash and cash equivalents | 28 | (20 | ) | ||||
Net decrease in cash and cash equivalents | (3,865 | ) | (2,844 | ) | |||
Cash and cash equivalents, beginning of period | 29,145 | 31,989 | |||||
Cash and cash equivalents, end of period | $ | 25,280 | $ | 29,145 |
SPOK HOLDINGS, INC. | ||||||||||||||||||||||||||||||||
UNITS IN SERVICE, MARKET SEGMENTS, | ||||||||||||||||||||||||||||||||
AND AVERAGE REVENUE PER UNIT (ARPU) | ||||||||||||||||||||||||||||||||
(Unaudited and in thousands) | ||||||||||||||||||||||||||||||||
For the three months ended | ||||||||||||||||||||||||||||||||
12/31/2025 | 9/30/2025 | 6/30/2025 | 3/31/2025 | 12/31/2024 | 9/30/2024 | 6/30/2024 | 3/31/2024 | |||||||||||||||||||||||||
Account size ending units in service (000's) | ||||||||||||||||||||||||||||||||
1 to 100 units | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | ||||||||||||||||||||||||
101 to 1,000 units | 112 | 113 | 116 | 121 | 120 | 125 | 128 | 135 | ||||||||||||||||||||||||
>1,000 units | 527 | 534 | 540 | 545 | 560 | 564 | 577 | 575 | ||||||||||||||||||||||||
Total | 675 | 684 | 694 | 705 | 720 | 730 | 747 | 753 | ||||||||||||||||||||||||
Market segment as a percent of total ending units in service | ||||||||||||||||||||||||||||||||
Healthcare | 83.6 | % | 84.1 | % | 85.7 | % | 85.5 | % | 85.6 | % | 85.7 | % | 85.8 | % | 86.1 | % | ||||||||||||||||
Government | 4.9 | % | 5.0 | % | 4.0 | % | 4.0 | % | 4.0 | % | 4.1 | % | 4.4 | % | 4.1 | % | ||||||||||||||||
Large enterprise | 3.8 | % | 3.7 | % | 3.8 | % | 3.8 | % | 3.9 | % | 4.0 | % | 4.0 | % | 3.9 | % | ||||||||||||||||
Other (1) | 7.7 | % | 7.2 | % | 6.5 | % | 6.7 | % | 6.5 | % | 6.2 | % | 5.8 | % | 5.9 | % | ||||||||||||||||
Total | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | ||||||||||||||||
Account size ARPU | ||||||||||||||||||||||||||||||||
1 to 100 units | $ | 13.26 | $ | 12.92 | $ | 12.88 | $ | 13.04 | $ | 13.08 | $ | 12.70 | $ | 12.51 | $ | 12.66 | ||||||||||||||||
101 to 1,000 units | 9.97 | 9.83 | 9.72 | 9.64 | 9.60 | 9.19 | 9.06 | 9.14 | ||||||||||||||||||||||||
>1,000 units | 7.56 | 7.51 | 7.54 | 7.59 | 7.50 | 7.33 | 7.21 | 7.23 | ||||||||||||||||||||||||
Total | $ | 8.26 | $ | 8.19 | $ | 8.20 | $ | 8.24 | $ | 8.16 | $ | 7.95 | $ | 7.84 | $ | 7.89 | ||||||||||||||||
(1) Other includes hospitality, resort and indirect units |
RECONCILIATION OF ADJUSTED OPERATING EXPENSES | ||||||||||||||||
(Unaudited and in thousands) | ||||||||||||||||
For the three months ended | For the year ended | |||||||||||||||
12/31/2025 | 12/31/2024 | 12/31/2025 | 12/31/2024 | |||||||||||||
Operating expenses | $ | 29,920 | $ | 29,254 | $ | 119,998 | $ | 118,688 | ||||||||
Add back: | ||||||||||||||||
Depreciation and accretion | (858 | ) | (938 | ) | (3,429 | ) | (4,148 | ) | ||||||||
Severance and restructuring | (210 | ) | (3 | ) | (458 | ) | (1,104 | ) | ||||||||
Adjusted operating expenses | $ | 28,852 | $ | 28,313 | $ | 116,111 | $ | 113,436 |
RECONCILIATION OF ADJUSTED EBITDA | ||||||||||||||||
(Unaudited and in thousands) | ||||||||||||||||
For the three months ended | For the year ended | |||||||||||||||
12/31/2025 | 12/31/2024 | 12/31/2025 | 12/31/2024 | |||||||||||||
Net income | $ | 2,930 | $ | 3,644 | $ | 15,881 | $ | 14,965 | ||||||||
Add back: | ||||||||||||||||
Provision for income taxes | 1,291 | 1,244 | 5,561 | 5,067 | ||||||||||||
Other income (expense) | (128 | ) | (5 | ) | (912 | ) | 86 | |||||||||
Interest income | (152 | ) | (245 | ) | (820 | ) | (1,153 | ) | ||||||||
Depreciation and accretion | 858 | 938 | 3,429 | 4,148 | ||||||||||||
EBITDA | $ | 4,799 | $ | 5,576 | $ | 23,139 | $ | 23,113 | ||||||||
Adjustments: | ||||||||||||||||
Stock-based compensation | 1,188 | 1,476 | 4,903 | 4,956 | ||||||||||||
Severance and restructuring | 210 | 3 | 458 | 1,104 | ||||||||||||
Legal costs unrelated to core business activities and non-recurring in nature | $ | 505 | $ | — | $ | 505 | $ | — | ||||||||
Adjusted EBITDA | $ | 6,702 | $ | 7,055 | $ | 29,005 | $ | 29,173 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260225013117/en/
Al Galgano
952-224-6096
al.galgano@spok.com
FAQ**
What strategies is Spok Holdings Inc. (SPOK) implementing to increase its software operations bookings, which saw a 14% year-over-year increase, and how do they plan to sustain this momentum in the coming quarters?
Given the projected revenue growth for 2026, how does Spok Holdings Inc. (SPOK) plan to balance the anticipated decline in wireless revenue with the growth in software revenue?
How is Spok Holdings Inc. (SPOK) addressing the decline in wireless units in service, down 6.year-over-year, while simultaneously aiming to enhance its software solutions offerings?
Spok Holdings Inc. (SPOK) reported a nearly $4 million increase in cash and cash equivalents year-over-year. What measures are being taken to maintain this liquidity while investing in product development and returning capital to shareholders?
**MWN-AI FAQ is based on asking OpenAI questions about Spok Holdings Inc. (NASDAQ: SPOK).
NASDAQ: SPOK
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