Revenue Performance - Total revenue for the three months ended March 31, 2024, was $34,909 thousand, an increase of 5.2% compared to $33,180 thousand in the same period of 2023[93] - Wireless revenue decreased by 2.3% to $18,595 thousand for the three months ended March 31, 2024, down from $19,028 thousand in 2023[93] - Software revenue increased by 15.3% to $16,314 thousand for the three months ended March 31, 2024, compared to $14,152 thousand in 2023[93] - Average Revenue Per User (ARPU) increased to $7.89 for the three months ended March 31, 2024, compared to $7.59 in the same period of 2023[99] Net Income and Expenses - Net income for the three months ended March 31, 2024, was $4,236 thousand, representing a 35.9% increase from $3,117 thousand in the same period of 2023[93] - For the three months ended March 31, 2024, total cost of revenue increased by 9.2% to $7.139 million compared to $6.536 million in the same period of 2023, primarily driven by a 14.8% increase in payroll and related expenses[110] - Research and development expenses rose by 18.4% to $2.951 million in Q1 2024 from $2.493 million in Q1 2023, mainly due to a 49.6% increase in outside services[111] - Technology operations expenses decreased by 4.4% to $6.299 million in Q1 2024 from $6.587 million in Q1 2023, attributed to a reduction in payroll and related expenses and site rent[113] - Selling and marketing expenses increased by 6.4% to $4.149 million in Q1 2024 compared to $3.901 million in Q1 2023, driven by higher payroll and advertising costs[115] - General and administrative expenses rose by 3.7% to $7.984 million in Q1 2024 from $7.700 million in Q1 2023, primarily due to increases in bad debt and payroll expenses[118] - The provision for income taxes decreased to $0.9 million in Q1 2024 from $1.9 million in Q1 2023, reflecting changes in the anticipated annual effective tax rate[123] Employee and Operational Metrics - The number of full-time equivalent employees increased by 3.2% to 392 as of March 31, 2024, compared to 380 in 2023[93] - Active transmitters decreased by 4.1% to 3,165 as of March 31, 2024, down from 3,300 in 2023[93] - Operations revenue increased due to higher license and professional services revenue, driven by improved bookings compared to the same period in 2023[106] - Maintenance revenue increased due to improved gross revenue churn and net new maintenance driven by operational bookings performance[107] Cash Flow and Financial Position - As of March 31, 2024, the company held cash and cash equivalents of $23.3 million, with a majority maintained in accounts exceeding insured limits[125] - Net cash provided by operating activities was $1.998 million for the three months ended March 31, 2024, down from $2.611 million in the same period of 2023, a decrease of $613,000[130] - The company incurred severance and restructuring expenses of $0.4 million in Q1 2024, primarily related to the early termination of the corporate headquarters lease[122] - The company anticipates positive cash flow generation to continue in future operating periods following the successful completion of its restructuring plan[128] - Net cash used in investing activities for the three months ended March 31, 2024, was $0.9 million, compared to $0.6 million in 2023, reflecting purchases of property and equipment[134] - Net cash used in financing activities for the three months ended March 31, 2024, was $9.8 million, an increase from $8.2 million in 2023, primarily due to cash distributions to stockholders[135] Dividends and Obligations - The Board of Directors declared a quarterly cash dividend of $0.3125 per share, amounting to approximately $6.3 million, payable on June 24, 2024[136] - Total contractual obligations as of March 31, 2024, amounted to $18.5 million, with operating lease obligations of $12.65 million and unconditional purchase obligations of $5.85 million[142] Debt and Currency Exposure - The company had no outstanding debt and no revolving credit facility as of March 31, 2024, indicating a low interest rate risk[146] - The company conducts limited business outside the United States, resulting in immaterial exposure to foreign currency exchange rate fluctuations[147] Product Development - The GenA pager, launched in late 2021, is expected to provide a competitive advantage and may help slow wireless revenue attrition[103]

Financial Data and Key Metrics Changes - In Q1 2024, GAAP net income was $4.2 million or $0.21 per diluted share, compared to $3.1 million or $0.15 per diluted share in Q1 2023 [7] - Total GAAP revenue for Q1 2024 was $34.9 million, up from $34 million in the prior quarter and $33.2 million in Q1 2023, reflecting a year-over-year growth of over 5% [11][38] - Adjusted EBITDA for Q1 2024 totaled $7.5 million, a 9.2% increase from the same quarter in 2023 [36] Business Line Data and Key Metrics Changes - Wireless revenue was $18.6 million, down 2.3% from the prior year, while software revenue was $16.3 million, up 15.3% from last year [7] - Maintenance revenue increased to $9.3 million, up approximately 3.8% year-over-year, while professional services revenue rose to $4 million from $3.2 million in Q1 2023 [32][33] - License and hardware revenue totaled $3 million, up from $2 million in the same period of 2023, driven by strong software operations bookings [35] Market Data and Key Metrics Changes - The company serves over 2,200 healthcare facilities, with over 80% of revenue being recurring in nature [2] - The first quarter saw a 39% year-over-year increase in software operations bookings, marking the second highest first quarter bookings level in the company's history [11][50] Company Strategy and Development Direction - The company aims to balance returning cash to shareholders while investing in product development and infrastructure [66][67] - Focus areas include continued investment in wireless and software solutions, disciplined expense management, and a shareholder-friendly capital allocation plan [68] - The company is optimistic about future growth driven by its established communication solutions and a strong customer base [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining momentum for the remainder of the year, citing a strong start in Q1 and positive trends in sales [10][23] - The company expects total revenue for 2024 to range from $136 million to $144 million, with adjusted EBITDA projected between $27.5 million and $32.5 million [38] Other Important Information - The company generated over $1 billion in free cash flow since inception, emphasizing a focus on maximizing cash over the long term [12] - The company received top honors for customer satisfaction in 12 of 18 key performance indicators in a survey by Black Book Research [13][62] Q&A Session Summary Question: Software bookings growth and full-year outlook - Management confirmed expectations for double-digit growth in software bookings for the full year, following a 39% growth in Q1 [45][46] Question: Churn expectations for the full year - Management indicated that they expect churn to remain in the 4% to 5% range on an annualized basis, consistent with previous statements [47] Question: Pipeline and large deals - Management noted that while Q1 did not include any large deals, the presence of multiple six-figure contracts indicates a solid pipeline for the future [55][25]

| --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------|-------|-------|-------| | | | | | | 2024 First Quarter Sales Highlights | | | | | | | | | | • Software operations bookings increased 39% from first quarter 2023 | | | | | • Bookings included 19 six-figure customer agreements and 4 multi-year engagements | | | | | • Average software operations bookings contract size up 40% from prior quarter | | | | | • Participation at HIMSS24 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-32358 SPOK HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of in ...

Spok Holdings, Inc. (NASDAQ:SPOK) Q4 2023 Earnings Conference Call February 21, 2024 5:00 PM ET Company Participants Al Galgano - IR Contact Vincent Kelly - President, CEO & Director Michael Wallace - COO Calvin Rice - CFO & CAO Conference Call Participants Max Michaelis - Lake Street Capital Markets David Wright - Henry Investment Trust George Melas - MKH Management Company Operator Greetings. Welcome to Spok Holdings' Fourth Quarter 2023 Earnings Call. At this time, all participants are in a listen-only m ...

SM spok 02/21/2024 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 s ...

NEWS RELEASE Exhibit 99.1 CONTACT: Al Galgano 952-224-6096 al.galgano@spok.com Spok Reports Fourth Quarter And Full Year 2023 Results Total annual revenue growth for the first time in the Company's history, with year-over-year growth in both Software and Wireless revenue 2023 Software operations bookings, up 22% from the prior year Company provides earnings guidance for 2024 Alexandria, Va. (February 21, 2024) - Spok Holdings, Inc. (NASDAQ: SPOK), a global leader in healthcare communications, today announce ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q (I.R.S. Employer Identification No.) (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 001-32358 SPOK HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delawa ...

Spok Holdings, Inc. (NASDAQ:SPOK) Q3 2023 Earnings Conference Call October 26, 2023 9:00 AM ET Company Participants Al Galgano - IR Contact Vincent Kelly - President, CEO & Director Michael Wallace - COO Calvin Rice - CFO & CAO Conference Call Participants Eric Martinuzzi - Lake Street Capital Markets Christopher Irons - Analyst George Melas - MKH Management Company Operator Good morning, and welcome to Spok Holdings Third Quarter 2023 Earnings Call. [Operator Instructions]. As a reminder, this conference i ...

■ Dividend Distribution to Shareholders Share Repurchases 5 | --- | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | Second Quarter 2023 Highlights | | | | | • Company executing on strategic business plan generating $4.7 million of GAAP net income, and $8.5 million of adjusted EBITDA | | | | | • Second Quarter software operations bookin ...