Spok (SPOK) investor relations material

Executive summary

• Q3 revenue was $33.0 million versus $33.9 million YoY; GAAP net income was $9.7 million, including the narrowband license-sale gain, and adjusted EBITDA rose 29.6% to $8.6 million.

• Strategic priorities include cash generation, shareholder returns, investment in Care Connect, and using AI to improve efficiency and accelerate product development.

• Product investment continued alongside cost discipline, including nearly $10 million of R&D spend in 9M 2026, up more than 8% YoY.

• Amid uncertain macro conditions, 42 six- and seven-figure software operations agreements were booked in 9M 2026.

Financial highlights

• Q3 GAAP net income was $9.7 million versus $3.2 million YoY; diluted EPS was $0.46 versus $0.15. Excluding the after-tax spectrum-sale gain and remaining restructuring costs, net income was approximately $4.5 million.

• Q3 revenue was $33.0 million versus $33.9 million; 9M revenue was $101.2 million versus $105.8 million.

• Q3 adjusted EBITDA was $8.6 million versus $6.6 million YoY; 9M adjusted EBITDA was $23.0 million versus $22.3 million.

• Adjusted operating expenses were $26.1 million in Q3, down 8.5% YoY; 9M adjusted operating expenses were $82.6 million, down 5.3%.

• Q3 operating income was $5.6 million versus $4.4 million YoY; 9M operating income was $13.5 million versus $15.8 million.

Outlook and guidance

• Reiterated FY 2026 revenue guidance of $132.5 million to $139.5 million, including wireless revenue of $67.0 million to $70.0 million and software revenue of $65.5 million to $69.5 million.

• FY 2026 adjusted EBITDA guidance remains $28.0 million to $32.0 million, reflecting expected strategic realignment impacts and visibility into the product sales pipeline.

• Expected year-end 2026 cash and cash equivalents of $28 million to $32 million; expected dividends exceed $27 million in 2026, with commitment to the dividend and capital allocation policy reaffirmed.