Financial Data and Key Metrics Changes - Total GAAP revenue for Q3 2020 was 37.7million,comparedto35.7 million in Q2 2020 and 39.5millioninthesameperiodlastyear[19][23]−SoftwarerevenueforQ32020was16.9 million, up from 14.7millioninQ22020,approachingprioryearlevels[23]−AdjustedEBITDAforthefirstninemonthsof2020wasapproximately4.3 million, with cash balances growing to over 79millionbytheendofQ3[7][28]BusinessLineDataandKeyMetricsChanges−Softwarebookingsexceeded21 million in Q3 2020, up almost 39% from the prior quarter and a 5% increase from the prior year [20][11] - Wireless revenue for the first nine months of 2020 declined a record low of 4.9% from the prior year period, with a net decline in paging units totaling 1.9% [25][12] - The software revenue backlog reached a record 51.7million,upabout7812,000 in aggregate contract value [16][20] Q&A Session Summary Question: Can you talk about the total subscription opportunity for Spok Go over the next 5 or 10 years? - Management believes the subscription opportunity remains at around $1 billion, despite current pandemic challenges [38] Question: Across how many hospitals are the two Spok Go contracts? - The contracts are with two individual healthcare organizations, one with many physical locations and the other with fewer [39] Question: Why would some large new logos not go with Spok Go? - Some customers prefer to see others of similar size using Spok Go before committing, while others are upgrading existing solutions [44] Question: Will wireless churn pick back up in the first half of '21? - Management does not expect a significant increase in churn, as the trend has shown a decrease in revenue erosion over the years [45]
Spok(SPOK)2020-11-01 17:28