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Spok(SPOK) - 2023 Q2 - Quarterly Report
2023-07-27 20:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended June 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) Delaware 16-1694797 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 5911 Kingstowne Village Pkwy, 6th Floo ...
Spok(SPOK) - 2023 Q2 - Earnings Call Transcript
2023-07-27 17:40
Spok Holdings, Inc. (NASDAQ:SPOK) Q2 2023 Earnings Conference Call July 27, 2023 9:00 AM ET Company Participants Al Galgano - Investor Relations Vince Kelly - President & Chief Executive Officer Calvin Rice - Chief Financial Officer Mike Wallace - President Conference Call Participants Eric Martinuzzi - Lake Street Capital Operator Good morning, and welcome to the Spok Holdings Second Quarter 2023 Earnings Call. At this time, all participants are in listen-only mode. [Operator Instructions]. As a reminder, ...
Spok(SPOK) - 2023 Q1 - Earnings Call Transcript
2023-05-05 20:17
Spok Holdings, Inc. (NASDAQ:SPOK) Q1 2023 Earnings Conference Call May 4, 2023 9:30 AM ET Company Participants Al Galgano - Investor Relations Vince Kelly - Chief Executive Officer Calvin Rice - Chief Financial Officer Conference Call Participants Al Galgano Hello, everyone, and welcome to Spok Holdings First Quarter 2023 Earnings Call. I am joined by Vince Kelly, Chief Executive Officer; Mike Wallace, President of Spok Inc. and Chief Operating Officer; and Calvin Rice, Chief Financial Officer. Please be ad ...
Spok(SPOK) - 2023 Q1 - Quarterly Report
2023-05-04 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 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) Delaware 16-1694797 (State or other jurisdictio ...
Spok(SPOK) - 2023 Q1 - Earnings Call Presentation
2023-05-04 19:03
(1) Adjusted EBITDA represents net income/(loss) before interest income/expense, income tax benefit/expense, depreciation, amortization and accretion expense, stock-based compensation expense, impairment of intangible assets, effects of capitalized software development costs, capital expenditures, and severance and restructuring costs. 8 Fourth Quarter Earnings| 02.23.23 05.04.23 Statements contained in this presentation which are not historical fact, such as statements regarding Spok's future operating and ...
Spok(SPOK) - 2022 Q4 - Earnings Call Transcript
2023-02-25 19:02
Financial Data and Key Metrics Changes - In Q4 2022, GAAP net income was $24.2 million, or $1.21 per diluted share, compared to a net loss of $16.7 million, or $0.86 per diluted share in Q4 2021, largely due to a $21.9 million noncash gain related to tax credits [34][35] - Total GAAP revenue for Q4 2022 was $33.3 million, down from $34.5 million in Q4 2021, with wireless revenue at $19 million and software revenue at $14.3 million, reflecting declines of less than 1% and 7.2% respectively [36] - Adjusted EBITDA for Q4 2022 was $5.6 million, compared to a negative $3.8 million in Q4 2021, indicating significant progress in the strategic pivot [40] Business Line Data and Key Metrics Changes - Wireless revenue for the full year 2022 declined by 4.1%, with monthly paging revenue down only 3.3% year-over-year, showing a slowing rate of erosion [36] - Software operations bookings increased nearly 17% year-over-year in Q4 2022, with a software backlog of $44 million at year-end [28] - Professional services revenue decreased to $3.1 million in Q4 2022 from $3.8 million in Q4 2021, reflecting a planned reduction in personnel [37] Market Data and Key Metrics Changes - The company has over 2,200 healthcare facilities as customers, including 18 of the top 20 adult hospitals, indicating strong market presence [26] - Approximately 83% of the company's revenue is recurring, providing financial stability [26] Company Strategy and Development Direction - The company has shifted its focus to maximizing cash flow and returning capital to shareholders, having returned $25 million in cumulative capital since the strategic pivot [26][32] - Future investments will focus on enhancing the Spok Care Connect software solutions and wireless products, with R&D spending expected to increase to approximately $11.3 million in 2023 [27][42] - The company aims to stabilize software revenue and position it for growth in future years following the discontinuation of Spok Go [42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in generating adjusted EBITDA in the range of $24 million to $26 million for 2023, based on cautious optimism and performance in 2022 [42] - The company anticipates moderate growth in software operations bookings while minimizing unit churn and maximizing average revenue per unit in wireless products [32] Other Important Information - The company plans to host an Investor Day on May 4, 2023, in Dallas, providing an opportunity for investors to engage with management [17] Q&A Session Summary Question: What is the expectation for wireless revenue in 2023? - Management expects unit churn to remain consistent with 2022, with an uptick in ARPU due to pricing actions and new GenA pagers [10] Question: What is the outlook for license revenue? - Management indicated that the decline in license revenue is a function of mix and expects overall bookings to grow, leading to an increase in license revenue over time [11] Question: How is the morale within the company? - Morale is reported to be high, with a significant reduction in regrettable turnover to less than 1% [5] Question: What is the company's dividend commitment? - The company is committed to paying an annual dividend of $1.25 in 2023, with sufficient cash generation expected to support this [7] Question: Are there opportunities outside of healthcare for the communications console? - Management views opportunities in other market segments as a longer-term priority, with current focus on generating adjusted EBITDA [8]
Spok(SPOK) - 2022 Q4 - Annual Report
2023-02-23 21:04
Table of Contents or For the transition period from to (Mark One) Commission file number 001-32358 SPOK HOLDINGS, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 WASHINGTON, D.C. 20549 For the Fiscal Year Ended December 31, 2022 FORM 10-K 5911 Kingstowne Village Pkwy, 6th Floor Alexandria, Virginia 22315 (Address of principal ...
Spok(SPOK) - 2022 Q3 - Earnings Call Transcript
2022-10-29 03:14
Financial Data and Key Metrics Changes - For Q3 2022, total GAAP revenue was $33.7 million, down from $35.9 million in Q3 2021, with wireless revenue at $19.1 million (down 3%) and software revenue at $14.7 million (down 9.4%) [39] - Year-to-date total GAAP revenue was $101.3 million, compared to $107.6 million in 2021, with wireless revenue at $56.6 million (down 5.1%) and software revenue at $44.7 million (down 6.9%) [44] - Adjusted EBITDA for Q3 2022 was $4.7 million, compared to a negative $2.5 million in Q3 2021, and year-to-date adjusted EBITDA was $1.1 million, compared to a negative $4.5 million in 2021 [46] Business Line Data and Key Metrics Changes - Wireless revenue for Q3 2022 was $19.1 million, down from $19.6 million, with a net pager decline of 3.4% year-over-year [39] - Software maintenance revenue was $9.2 million, down 4.8% from $9.6 million in the same period last year, while professional services revenue decreased by 33.3% to $2.8 million [41] - License and hardware revenue increased to $2.7 million from $2.4 million year-over-year [44] Market Data and Key Metrics Changes - Over 80% of the company's revenue is recurring, primarily from legacy wireless offerings and software maintenance contracts [28] - The company serves over 2,200 hospital locations, with 50% of customers using wireless-only services, 29% using software-only, and 21% using both [14] Company Strategy and Development Direction - The company has pivoted to maximize free cash flow and return capital to shareholders, with a focus on the Care Connect Suite and wireless services [9][10] - The strategic business plan aims to stabilize revenue and generate significant cash flow, with a commitment to return $20 million in adjusted EBITDA for the full year [30][49] - The company plans to continue investing in its legacy products while transitioning to a cash flow-focused model [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the $20 million adjusted EBITDA target for the year, despite some anticipated fluctuations in quarterly performance [30][49] - The company expects to see continued growth in software operations bookings, with a year-to-date increase of 18% year-over-year [32] - Management highlighted the importance of maintaining strong customer relationships and adapting to market needs, particularly in the healthcare sector [12][13] Other Important Information - The company has returned $18.8 million in cumulative capital to shareholders since the strategic pivot in February 2022 [33] - The company has a strong cash position and no debt, providing flexibility for future investments and shareholder returns [11] Q&A Session Summary Question: Can you discuss the dynamics influencing ARPU? - Management identified three factors: the Universal Service Fund, traction from the GenA product, and recent price increases affecting a third of the customer base [55][56] Question: What key levers are being focused on to drive margins? - Management emphasized cost reduction and top-line growth, particularly in wireless revenue, as key levers for margin expansion [60][61] Question: What are the expectations for additional restructuring costs? - Management indicated that most restructuring costs will be wrapped up after Q4, with only minor costs expected moving forward [63][64] Question: Can you provide details on the six-figure deals? - Management shared examples of significant deals, including a $700,000 contract with a large hospital system and a $300,000 deal in Hawaii, highlighting successful cross-selling efforts [66][68] Question: How is the launch of the GenA pager going? - Management reported positive feedback and increased units in service, with plans to evaluate pricing and address supply chain challenges [72][74]
Spok(SPOK) - 2022 Q3 - Quarterly Report
2022-10-27 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q (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, 2022 5911 Kingstowne Village Pkwy, 6th Floor Alexandria, Virginia 22315 (Address of principal executive offices) (Zip Code) (800) 611-8488 (Registrant's telephone number, including area code) N/A or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of ...
Spok(SPOK) - 2022 Q2 - Earnings Call Transcript
2022-07-30 15:04
Spok Holdings, Inc. (NASDAQ:SPOK) Q2 2022 Earnings Conference Call July 28, 2022 8:30 AM ET Company Participants Lisa Fortuna - Managing Director, Alpha IR Group Vince Kelly - President & Chief Executive Officer Mike Wallace - Chief Financial Officer & Chief Operating Officer Conference Call Participants Operator Greetings, and welcome to Spok Holdings Second Quarter 2022 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Li ...