Spok(SPOK) - 2023 Q1 - Quarterly Report

PART I. FINANCIAL INFORMATION ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The company's unaudited condensed consolidated financial statements for Q1 2023 detail its financial position, operations, equity changes, and cash flows Condensed Consolidated Balance Sheets Condensed Consolidated Balance Sheets (in thousands) | Metric | March 31, 2023 (Unaudited) | December 31, 2022 | | :-------------------------- | :------------------------- | :------------------ | | Cash and cash equivalents | $29,550 | $35,754 | | Accounts receivable, net | $22,644 | $26,861 | | Prepaid expenses | $7,150 | $6,849 | | Other current assets | $628 | $587 | | Total current assets | $59,972 | $70,051 | | Property and equipment, net | $7,802 | $8,223 | | Operating lease right-of-use assets | $13,401 | $13,876 | | Goodwill | $99,175 | $99,175 | | Deferred income tax assets, net | $50,706 | $52,398 | | Other non-current assets | $694 | $754 | | Total non-current assets | $171,778 | $174,426 | | Total assets | $231,750 | $244,477 | | Accounts payable | $4,659 | $5,880 | | Accrued compensation and benefits | $6,063 | $11,628 | | Deferred revenue | $24,629 | $26,274 | | Operating lease liabilities (current) | $4,964 | $5,096 | | Other current liabilities | $4,823 | $4,573 | | Total current liabilities | $45,138 | $53,451 | | Asset retirement obligations | $7,353 | $7,237 | | Operating lease liabilities (non-current) | $10,064 | $10,604 | | Other non-current liabilities | $846 | $1,107 | | Total non-current liabilities | $18,263 | $18,948 | | Total liabilities | $63,401 | $72,399 | | Total stockholders' equity | $168,349 | $172,078 | | Total liabilities and stockholders' equity | $231,750 | $244,477 | Condensed Consolidated Statements of Operations Condensed Consolidated Statements of Operations (in thousands, except per share amounts) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | Change (%) | | :------------------------------------ | :-------------------------------- | :-------------------------------- | :--------- | | Wireless revenue | $19,028 | $18,846 | 1.0% | | Software revenue | $14,152 | $14,979 | (5.5)% | | Total revenue | $33,180 | $33,825 | (1.9)% | | Cost of revenue | $6,536 | $7,804 | (16.2)% | | Research and development | $2,493 | $6,497 | (61.6)% | | Technology operations | $6,587 | $7,013 | (6.1)% | | Selling and marketing | $3,901 | $5,315 | (26.6)% | | General and administrative | $7,700 | $10,435 | (26.2)% | | Depreciation, amortization and accretion | $1,236 | $934 | 32.3% | | Severance and restructuring | $10 | $4,495 | (99.8)% | | Total operating expenses | $28,463 | $42,493 | (33.0)% | | Operating income (loss) | $4,717 | $(8,668) | (154.4)% | | Interest income | $272 | $67 | 306.0% | | Other income (expense) | $53 | $(13) | (507.7)% | | Income (loss) before income taxes | $5,042 | $(8,614) | (158.5)% | | (Provision for) benefit from income taxes | $(1,925) | $1,400 | (237.5)% | | Net income (loss) | $3,117 | $(7,214) | (143.2)% | | Basic net income (loss) per common share | $0.16 | $(0.37) | - | | Diluted net income (loss) per common share | $0.15 | $(0.37) | - | | Cash dividends declared per common share | $0.3125 | $0.3125 | 0.0% | Condensed Consolidated Statements of Comprehensive Income (Loss) Condensed Consolidated Statements of Comprehensive Income (Loss) (in thousands) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Net income (loss) | $3,117 | $(7,214) | | Foreign currency translation adjustments | $12 | $25 | | Other comprehensive income | $12 | $25 | | Comprehensive income (loss) | $3,129 | $(7,189) | Condensed Consolidated Statements of Stockholders' Equity Condensed Consolidated Statements of Stockholders' Equity (in thousands, except share amounts) | Metric | Balance, January 1, 2023 | Net Income | Purchase of Common Stock for Tax Withholding | Amortization of Stock-Based Compensation | Cash Dividends Declared | Cumulative Translation Adjustment | Balance, March 31, 2023 | | :-------------------------------- | :----------------------- | :--------- | :------------------------------------------- | :--------------------------------------- | :---------------------- | :-------------------------------- | :---------------------- | | Outstanding Common Shares | 19,703,800 | — | (144,516) | — | — | — | 19,941,852 | | Common Stock | $2 | — | — | — | — | — | $2 | | Additional Paid-In Capital & Accumulated Other Comprehensive Loss | $97,999 | — | $(1,245) | $936 | — | $12 | $97,702 | | Retained Earnings | $74,077 | $3,117 | — | — | $(6,549) | — | $70,645 | | Total Stockholders' Equity | $172,078 | $3,117 | $(1,245) | $936 | $(6,549) | $12 | $168,349 | Condensed Consolidated Statements of Cash Flows Condensed Consolidated Statements of Cash Flows (in thousands) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Net cash provided by (used in) operating activities | $2,611 | $(4,879) | | Net cash used in investing activities | $(649) | $(646) | | Net cash used in financing activities | $(8,178) | $(7,733) | | Effect of exchange rate on cash and cash equivalents | $12 | $25 | | Net decrease in cash and cash equivalents | $(6,204) | $(13,233) | | Cash and cash equivalents, beginning of period | $35,754 | $44,583 | | Cash and cash equivalents, end of period | $29,550 | $31,350 | | Income taxes paid/(refunded) | $(6) | $(39) | Unaudited Notes to Condensed Consolidated Financial Statements - Spok Holdings, Inc. is a global leader in healthcare communications, providing clinical information to care teams to improve patient outcomes[20] - The company offers a focused suite of unified clinical communication and collaboration solutions, including call center applications, clinical alerting, wireless messaging, mobile communications, and public safety solutions[21] - In February 2022, the company initiated a strategic business plan to discontinue Spok Go, eliminate associated costs, and optimize its existing structure, resulting in the elimination of 176 positions[34] Severance and Restructuring Costs (in thousands) | Category | For the Three Months Ended March 31, 2022 | | :------------------------------ | :---------------------------------------- | | Severance and personnel related costs | $3,997 | | Contractual terminations | $498 | | Total severance and restructuring costs | $4,495 | - Remaining performance obligations at March 31, 2023, totaled $46.5 million, with approximately $34.9 million expected to be recognized over the next 12 months[48] Total Lease Cost (in thousands) | Lease Type | For the Three Months Ended March 31, 2023 | For the Three Months Ended March 31, 2022 | | :----------------- | :---------------------------------------- | :---------------------------------------- | | Operating lease cost | $1,178 | $1,482 | | Short-term lease cost | $2,280 | $2,633 | | Total lease cost | $3,458 | $4,115 | - The company declared a regular quarterly cash dividend of $0.3125 per share on February 22, 2023, totaling $6.55 million[63] - As of March 31, 2023, there was $5.3 million of unrecognized net compensation cost related to RSUs and restricted stock, expected to be recognized over a weighted average period of 2.0 years[74] Stock-Based Compensation Expense (in thousands) | Category | For the Three Months Ended March 31, 2023 | For the Three Months Ended March 31, 2022 | | :---------------------------------- | :---------------------------------------- | :---------------------------------------- | | Performance-based RSUs | $381 | $460 | | Time-based RSUs, DSUs and restricted stock | $542 | $655 | | ESPP | $13 | $— | | Total stock-based compensation | $936 | $1,115 | - Total net deferred income tax assets were $50.7 million as of March 31, 2023, with a valuation allowance of $2.3 million[86] - The company recognized $0.1 million in revenue from a related party (an entity where a Board member is employed) for both Q1 2023 and Q1 2022[91] ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Management analyzes the company's Q1 2023 financial performance, detailing revenue trends, expense reductions, and liquidity following its strategic business plan - Spok delivers smart, reliable clinical communication and collaboration solutions primarily to the U.S. healthcare industry, focusing on workflow improvement, secure messaging, paging, contact center optimization, and public safety[96] - The strategic business plan, completed in Q4 2022, involved discontinuing Spok Go, eliminating 176 positions, and optimizing the existing structure to drive cost improvement and prioritize cash flow generation[98] - The company anticipates future operating periods will return to positive cash flow generation, with the majority of accrued restructuring liabilities paid out in Q1 2023[134] Overview - Spok delivers smart, reliable clinical communication and collaboration solutions to organizations, primarily in the U.S. healthcare industry, to help protect the health, well-being and safety of individuals[96] - Organizations rely on Spok for workflow improvement, secure messaging, paging services, contact center optimization and public safety response[96] Strategic Business Plan - In February 2022, the Board announced a new strategic business plan to discontinue Spok Go, eliminate associated costs, and optimize the existing structure for cost improvement[98] - Restructuring efforts were completed during Q4 2022, resulting in the elimination of 176 positions, primarily in research and development[98] - These actions allowed for better cost alignment, enabling the return of capital to stockholders through increased quarterly dividends of $0.3125 per share starting in 2022[98] Results of Operations Summary of Condensed Consolidated Statement of Operations (in thousands) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | Change (Total) | Change (%) | | :------------------------------------ | :-------------------------------- | :-------------------------------- | :------------- | :--------- | | Total revenue | $33,180 | $33,825 | $(645) | (1.9)% | | Total operating expenses | $28,463 | $42,493 | $(14,030) | (33.0)% | | Operating income (loss) | $4,717 | $(8,668) | $13,385 | (154.4)% | | Net income (loss) | $3,117 | $(7,214) | $10,331 | (143.2)% | | FTE Employees | 380 | 548 | (168) | (30.7)% | | Active transmitters | 3,300 | 3,399 | (99) | (2.9)% | Revenue Revenue by Type (in thousands) | Revenue Type | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | Change (Total) | Change (%) | | :-------------------- | :-------------------------------- | :-------------------------------- | :------------- | :--------- | | Paging revenue | $18,525 | $18,313 | $212 | 1.2% | | Product and other revenue | $503 | $533 | $(30) | (5.6)% | | Total wireless revenue | $19,028 | $18,846 | $182 | 1.0% | | License | $1,618 | $1,824 | $(206) | (11.3)% | | Professional services | $3,239 | $3,336 | $(97) | (2.9)% | | Hardware | $356 | $589 | $(233) | (39.6)% | | Operations revenue | $5,213 | $5,749 | $(536) | (9.3)% | | Maintenance | $8,939 | $9,230 | $(291) | (3.2)% | | Total software revenue | $14,152 | $14,979 | $(827) | (5.5)% | | Total revenue | $33,180 | $33,825 | $(645) | (1.9)% | Wireless Revenue - Wireless revenue increased by 1.0% due to nominal increases in the standard rate from price adjustments in late 2022 and general increases in Universal Service Fees (USF), offset by secular decrease in demand[105] Wireless Revenue Metrics | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Average Revenue Per User (ARPU) | $7.59 | $7.24 | | Total units in service | 0.8 million | 0.8 million | - The GenA pager, a new one-way alphanumeric pager with advanced features, is expected to provide a competitive advantage and help slow wireless revenue attrition[108][109] Software Revenue - Software revenue decreased by 5.5% due to fluctuations in the timing of license and equipment delivery for operations revenue and a decline in maintenance revenue where churn exceeded new bookings[104][112][113] - Professional services revenue remained generally stable despite significantly fewer billable resources, indicating improved resource utilization[112] - Annual maintenance revenue is likely to be down slightly until existing software solutions are enhanced to reduce gross churn and generate additional maintenance revenue[114] Operating Expenses - Total operating expenses decreased by 33.0% to $28.46 million in Q1 2023, primarily driven by significant reductions in severance and restructuring, research and development, general and administrative, and selling and marketing expenses[100] Cost of Revenue Cost of Revenue (in thousands) | Category | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | Change (Total) | Change (%) | | :---------------------- | :-------------------------------- | :-------------------------------- | :------------- | :--------- | | Payroll and related | $3,980 | $5,110 | $(1,130) | (22.1)% | | Cost of sales | $1,205 | $1,557 | $(352) | (22.6)% | | Recoverable taxes and fees | $971 | $712 | $259 | 36.4% | | Stock-based compensation | $76 | $109 | $(33) | (30.3)% | | Other | $304 | $316 | $(12) | (3.8)% | | Total cost of revenue | $6,536 | $7,804 | $(1,268) | (16.2)% | | FTE Employees | 131 | 177 | (46) | (26.0)% | - The decrease in payroll and related expenses is attributable to restructuring activities and position eliminations, while cost of sales decreased due to lower equipment sales[118] - Recoverable taxes and fees increased due to rate changes for Universal Service Fees (USF), which are passed through to wireless customers[118] Research and Development Research and Development Expenses (in thousands) | Category | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | Change (Total) | Change (%) | | :---------------------- | :-------------------------------- | :-------------------------------- | :------------- | :--------- | | Payroll and related | $1,541 | $4,305 | $(2,764) | (64.2)% | | Outside services | $846 | $1,899 | $(1,053) | (55.5)% | | Stock-based compensation | $27 | $130 | $(103) | (79.2)% | | Other | $79 | $163 | $(84) | (51.5)% | | Total research and development | $2,493 | $6,497 | $(4,004) | (61.6)% | | FTE Employees | 40 | 101 | (61) | (60.4)% | - Research and development expenses decreased significantly by 61.6% due to the decision to discontinue Spok Go in Q1 2022 and the resulting elimination of positions and associated outside services[119] Technology Operations Technology Operations Expenses (in thousands) | Category | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | Change (Total) | Change (%) | | :---------------------- | :-------------------------------- | :-------------------------------- | :------------- | :--------- | | Payroll and related | $2,339 | $2,509 | $(170) | (6.8)% | | Site rent | $2,881 | $3,067 | $(186) | (6.1)% | | Telecommunications | $707 | $771 | $(64) | (8.3)% | | Stock-based compensation | $55 | $55 | $0 | 0.0% | | Other | $605 | $611 | $(6) | (1.0)% | | Total Technology Operations | $6,587 | $7,013 | $(426) | (6.1)% | | FTE Employees | 73 | 85 | (12) | (14.1)% | - Technology operations expenses decreased due to reduced payroll from restructuring activities and lower site rent and telecommunications costs resulting from network rationalization efforts[121] - Active transmitters declined by 2.9% from March 31, 2022, to March 31, 2023, contributing to cost reductions[100][121] Selling and Marketing Selling and Marketing Expenses (in thousands) | Category | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | Change (Total) | Change (%) | | :---------------------- | :-------------------------------- | :-------------------------------- | :------------- | :--------- | | Payroll and related | $2,449 | $3,468 | $(1,019) | (29.4)% | | Commissions | $799 | $1,024 | $(225) | (22.0)% | | Stock-based compensation | $94 | $79 | $15 | 19.0% | | Advertising and events | $231 | $568 | $(337) | (59.3)% | | Other | $328 | $176 | $152 | 86.4% | | Total selling and marketing | $3,901 | $5,315 | $(1,414) | (26.6)% | | FTE Employees | 66 | 91 | (25) | (27.5)% | - Selling and marketing expenses decreased by 26.6% due to reductions in payroll and related expenses from restructuring activities and lower advertising and events expenses[122][123] - The decrease in advertising and events reflects changes in the timing of trade show participation, with nationwide travel still below pre-pandemic levels[123] General and Administrative General and Administrative Expenses (in thousands) | Category | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | Change (Total) | Change (%) | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :------------- | :--------- | | Payroll and related | $3,266 | $4,051 | $(785) | (19.4)% | | Stock-based compensation | $684 | $742 | $(58) | (7.8)% | | Facility rent, office and technology costs | $1,848 | $2,680 | $(832) | (31.0)% | | Outside services | $1,003 | $1,900 | $(897) | (47.2)% | | Taxes, licenses and permits | $262 | $265 | $(3) | (1.1)% | | Bad debt | $(135) | $(14) | $(121) | 864.3% | | Other | $772 | $811 | $(39) | (4.8)% | | Total general and administrative | $7,700 | $10,435 | $(2,735) | (26.2)% | | FTE Employees | 70 | 94 | (24) | (25.5)% | - General and administrative expenses decreased by 26.2% due to lower outside services (legal and professional), reduced facility rent (from closing the Minnesota office), and decreased payroll from headcount reductions[124][125] Depreciation, Amortization and Accretion - Depreciation, amortization and accretion expenses increased by 32.3% to $1.2 million in Q1 2023, primarily due to increases in asset retirement cost and pager depreciation[100][126] Severance and Restructuring - Severance and restructuring expenses were $10k in Q1 2023, a 99.8% decrease from $4.5 million in Q1 2022, as the restructuring program announced in February 2022 was completed by Q4 2022[100][127] Income Taxes - The company recorded an income tax provision of $(1.9) million in Q1 2023, compared to a benefit of $1.4 million in Q1 2022, primarily due to the generation of pre-tax book income versus a pre-tax loss[100][128] - The change also reflects the effect of the anticipated annual effective tax rate change resulting from permanent tax differences, estimated R&D tax credits, and discrete items[128] Liquidity and Capital Resources - As of March 31, 2023, the company held $29.5 million in cash and cash equivalents[130] - Primary sources of liquidity are cash flows from operations and existing cash, used for working capital, operations, business investments, and returning value to stockholders through dividends and share repurchases[131][132] - The discontinuation of Spok Go is expected to result in more cash available for other uses than in prior years[132] - The company anticipates that net cash provided by operating activities, combined with available cash, will be adequate to meet anticipated cash requirements for both the short and long term[136] Cash and Cash Equivalents - As of March 31, 2023, cash and cash equivalents totaled $29.55 million, primarily held in operating accounts and interest-bearing funds managed by third-party financial institutions[130] Cash Sources - The primary sources of liquidity are cash flows generated from operations and existing cash and cash equivalents, maintaining sufficient liquidity for short-term and long-term needs[131] Cash Uses - Cash is intended for working capital, operations, business investments, and returning value to stockholders through cash dividends and common stock repurchases[132] - The discontinuation of Spok Go is expected to free up more cash for other uses than in prior years[132] - The Board authorized a $10 million share repurchase program in February 2022, but no common stock was repurchased during Q1 2023[64][133] Cash Flows Overview - The company anticipates that net cash provided by operating activities, combined with available cash on hand, will be adequate to meet anticipated cash requirements for both the short term (next 12 months) and long term (beyond 12 months)[136] - Contingency plans for insufficient cash include reducing planned capital expenses, reducing or eliminating cash dividends, not repurchasing shares, selling assets, or seeking additional financing[135] Operating Activities Net Cash Flows from Operating Activities (in thousands) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Net cash provided by (used in) operating activities | $2,611 | $(4,879) | - Net cash provided by operating activities in Q1 2023 was $2.6 million, driven by net income ($3.1 million), changes in accounts receivable ($4.2 million), depreciation ($1.2 million), and stock-based compensation ($0.9 million)[139] - This was partially offset by changes in accounts payable, accrued liabilities and other ($6.7 million) and deferred revenue ($1.6 million)[139] Investing Activities Net Cash Flows from Investing Activities (in thousands) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Net cash used in investing activities | $(649) | $(646) | - Net cash used in investing activities remained stable at $0.6 million, primarily reflecting purchases of property and equipment[141] Financing Activities Net Cash Flows from Financing Activities (in thousands) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Net cash used in financing activities | $(8,178) | $(7,733) | - Net cash used in financing activities was primarily due to cash distributions to stockholders and the purchase of common stock for tax withholding on vested equity awards[142] - On May 3, 2023, the Board declared a regular quarterly cash dividend of $0.3125 per share, totaling approximately $6.2 million, to be paid from available cash on hand[143] Commitments and Contingencies Significant Commitments and Contractual Obligations as of March 31, 2023 (in thousands) | Category | Total | 1 year or Less | 1 to 3 years | 3 to 5 years | More than 5 years | | :-------------------------- | :------ | :------------- | :----------- | :----------- | :---------------- | | Operating lease obligations | $17,170 | $4,236 | $7,037 | $3,422 | $2,475 | | Unconditional purchase obligations | $4,296 | $2,801 | $1,493 | $2 | $— | | Total contractual obligations | $21,466 | $7,037 | $8,530 | $3,424 | $2,475 | - The company continues to review its office and transmitter locations to replace, reduce, or consolidate leases where possible[146] Related Party Transactions - The company recognized $0.1 million in revenue from an entity where a Board of Directors member serves as EVP and Chief Information Officer for both the three months ended March 31, 2023, and 2022[91][149] Critical Accounting Policies and Estimates - The preparation of the Condensed Consolidated Financial Statements requires management to make estimates, judgments, and assumptions that affect reported amounts, including those related to asset impairment, revenue recognition, and income taxes[150] - There have been no changes to the critical accounting policies reported in the 2022 Annual Report that materially affect significant judgments and estimates[151] ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK The company's market risk exposure is minimal, with no outstanding debt mitigating interest rate risk and immaterial foreign currency exchange rate risk Interest Rate Risk - As of March 31, 2023, the company had no outstanding debt and no revolving credit facility, indicating no material interest rate risk[152] Foreign Currency Exchange Rate Risk - The company conducts a limited amount of business outside the United States, resulting in an immaterial financial impact from foreign currency exchange rate fluctuations[153] ITEM 4. CONTROLS AND PROCEDURES Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal controls Evaluation of Disclosure Controls and Procedures - Management, with the participation of the principal executive officer and principal financial officer, evaluated the effectiveness of disclosure controls and procedures and concluded they were effective as of March 31, 2023[154] Changes in Internal Control over Financial Reporting - There were no changes to the company's internal control over financial reporting during the three months ended March 31, 2023, that materially affected, or are reasonably likely to materially affect, internal control over financial reporting[155] PART II. OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS There have been no material changes to the legal proceedings previously reported in the 2022 Annual Report during the first quarter of 2023 - There have been no material changes during the three months ended March 31, 2023, to the commitments and contingencies previously reported in the 2022 Annual Report, which includes legal proceedings[90][156] ITEM 1A. RISK FACTORS The risk factors outlined in the company's 2022 Annual Report have not materially changed during the first quarter of 2023 - The risk factors included in "Item 1A – Risk Factors" of Part I of the 2022 Annual Report have not materially changed during the three months ended March 31, 2023[157] ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS The company did not repurchase any shares of its common stock during the three months ended March 31, 2023 - The Company did not repurchase any shares of its common stock during the three months ended March 31, 2023[158] ITEM 6. EXHIBITS This section lists all exhibits filed as part of the Form 10-Q, including officer certifications and Inline XBRL documents - The exhibit index includes certifications from the Chief Executive Officer (31.1, 32.1) and Chief Financial Officer (31.2, 32.2) as required by the Securities Exchange Act and 18 U.S.C. Section 1350[161] - Various Inline XBRL documents (101.INS, 101.SCH, 101.CAL, 101.DEF, 101.LAB, 101.PRE, 104) are filed as part of this report, with the financial information contained within them being unaudited[161] Signatures The report is officially signed on behalf of Spok Holdings, Inc. by its Chief Financial Officer on May 4, 2023 - The report was signed on May 4, 2023, by Calvin C. Rice, Chief Financial Officer, as the duly authorized officer of Spok Holdings, Inc[163][164][165]