Spok(US:SPOK)2025-04-30 20:01Financial Performance - First quarter 2025 net income increased by 22.7% to $5.2 million compared to the prior year[4] - Adjusted EBITDA for the first quarter 2025 rose by 8.9% to $8.2 million from $7.5 million in Q1 2024[4] - Total revenue for Q1 2025 was $36.3 million, a 4.0% increase from $34.9 million in Q1 2024[10] - Total revenue for the three months ended March 31, 2025, was $36,294 million, an increase of 3.95% from $34,909 million in the same period of 2024[27] - Operating income rose to $6,018 million, representing 16.6% of total revenue, compared to $4,891 million or 14.0% in the prior year[27] - Net income increased to $5,196 million, up 22.7% from $4,236 million year-over-year, with basic net income per share rising to $0.25 from $0.21[27] - Total operating expenses were $30,276 million, accounting for 83.4% of total revenue, down from 86.0% in the previous year[27] - Cash and cash equivalents decreased to $19,873 million from $29,145 million at the end of the previous quarter[29] - The company reported a net cash provided by operating activities of $2,253 million, compared to $1,998 million in the same quarter last year[31] - Adjusted EBITDA for the three months ended March 31, 2025, was $8,204 million, an increase from $7,535 million in the prior year[37] Revenue Sources - Software operations bookings reached $8.3 million, up 5.7% from Q1 2024, including 22 six-figure customer contracts[4][11] - Software backlog totaled $63.2 million at March 31, 2025, reflecting a more than 15% increase from the previous year[4][11] - Professional services revenue surged nearly 44% year-over-year, driven by strong software operations bookings[5] - Wireless average revenue per unit (ARPU) was $8.24, marking a year-over-year increase of over 4%[4][11] - The average revenue per unit (ARPU) for all account sizes increased to $8.24, compared to $7.84 in the same quarter of 2024[33] Future Outlook - The company reiterated its full-year 2025 revenue guidance, projecting total revenue between $134 million and $142 million[12] - Research and development costs for Q1 2025 were $3.1 million, supporting future growth initiatives[4] Operational Metrics - The total number of units in service as of March 31, 2025, was 705,000, a decrease from 753,000 units a year earlier[33] - Healthcare market segment accounted for 85.5% of total ending units in service, consistent with previous quarters[33] Shareholder Returns - Capital returned to stockholders in Q1 2025 amounted to $7.9 million, up 7.6% from the prior year[4][10]