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Fourth Quarter Earnings| 02.23.23 Second Quarter 2026 Earnings July 29, 2026
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2 Safe Harbor Statement 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 statements. Factors that could cause actual results to differ materially from those expectations include, but are not limited to, our ability to manage wireless network rationalization to lower our costs without causing disruption of service to our customers; our ability to retain key management personnel and to attract and retain talent within the organization; the productivity of our sales organization and our ability to deliver effective customer support; our ability to identify potential acquisitions, finance, consummate and successfully integrate such acquisitions, and achieve the expected benefits of such acquisitions; economic conditions, such as recessionary economic cycles, the impact of trade disputes, tariffs and other trade protection measures, higher interest rates, inflation and higher levels of unemployment; risks related to our overall business strategy, including maximizing revenue and cash generation from our established businesses and returning capital to stockholders through dividends and repurchases of shares of our common stock; competition for our services and products from new technologies or those offered and/or developed from firms that are substantially larger and have much greater financial and human capital resources; continuing decline in the number of paging units we have in service with customers, commensurate with a continuing decline in our wireless revenue; our ability to address changing market conditions with new or revised software solutions; undetected defects, bugs, or security vulnerabilities in our products; our dependence on the United States healthcare industry; long sales cycle of our software solutions and services; our reliance on third-party vendors to supply us with wireless paging equipment; our ability to maintain successful relationships with our channel partners; our ability to protect our rights in intellectual property that we own and develop and the potential for material litigation claiming intellectual property infringement by us; our use of open source software, third-party software and other intellectual property; our reliance on data centers and other computer systems, hardware, software and satellite networks and telecommunications systems infrastructure (collectively, "IT Systems") and technologies provided by third parties, and technology systems and electronic networks supplied and managed by third parties; cyberattacks, data breaches, system disruptions or other compromises to our or our critical third parties’ IT Systems, data, products or services; our ability to realize the benefits associated with our deferred income tax assets; future impairments of our long-lived assets or goodwill; risks related to data privacy and protection-related laws and regulation; and our ability to manage changes related to regulation, including laws and regulations affecting hospitals and the healthcare industry generally, as well as other risks described from time to time in our periodic reports and other filings with the Securities and Exchange Commission. Although Spok believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Spok disclaims any intent or obligation to update any forward-looking statements.
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3 Agenda Business Overview Second Quarter and YTD Financial Highlights 2026 Financial Outlook Wrap Up
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2026 Second Quarter Sales Highlights • Software operations bookings included 14 six-figure customer agreements and one seven-figure customer agreement • Software operations bookings total $9.5 million, up nearly 92% from the prior quarter • Nearly 52% increase in software license revenue from the prior year 4
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5 Spectrum License Sale Announced in late June, 2026 Sale of Certain Narrowband Licenses $8 million cash purchase price Approximately $1.2 million deferred pending migration of Spok customers Sale closed on July 20, 2026
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6 Strategic Goal: Run the business profitably and generate cash Returning capital to stockholders is our goal as well as our legacy – More than $740 million returned to stockholders since 2004 – 2024 capital return - $26.4 million – 2025 capital return - $27.3 million – 2026 capital return - >$27 million anticipated Focus on maximizing cash over the long term – Incremental investments in wireless and software solutions – Stabilizing and then growing revenue – Efficient expense management – Stockholder-friendly capital allocation $10.0 $25.0 $25.6 $26.4 $27.3 $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 2021 2022 2023 2024 2025 Cash Returned to Stockholders ($ millions)
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2026 Second Quarter Financial Results Mike Wallace Chief Operating Officer and Chief Financial Officer
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Second Quarter 2026 Financial Results 8 For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Total Revenue $35.0 $35.7 $68.2 $72.0 Wireless $17.2 $18.4 $34.7 $36.9 Software $17.8 $17.3 $33.5 $35.1 Adjusted EBITDA(1) $9.1 $7.5 $14.4 $15.7 • Capital returned to stockholders in the second quarter of 2026 totaled $6.5 million in the form of the Company’s regular quarterly dividend • Cash and cash equivalents balance of $16.6 million at June 30, 2026, and no debt (Dollars in millions) (1) Adjusted EBITDA represents net income/(loss) before interest income/expense, income tax benefit/expense, depreciation and accretion expense, stock-based compensation expense, impairment of intangible assets, legal costs unrelated to core business activities and non-recurring in nature, and severance and restructuring. .
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2026 Financial Outlook 9 Prior Guidance Current Guidance From To From To Total Revenue: $136.0 $143.0 $132.5 $139.5 Wireless Revenue $68.0 $71.0 $67.0 $70.0 Software Revenue $68.0 $72.0 $65.5 $69.5 Adjusted EBITDA(1) $27.5 $32.5 $28.0 $32.0 (Dollars in millions) ((1) Adjusted EBITDA represents net income/(loss) before interest income/expense, income tax benefit/expense, depreciation and accretion expense, stock-based compensation expense, impairment of intangible assets, legal costs unrelated to core business activities and non-recurring in nature, and severance and restructuring.
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Wrap-Up Enormous customer base and strong relationships with leading healthcare providers Largest wireless paging network in the country with 645,000 units in service No debt, $16.6 million cash balance, significant deferred tax assets, substantial dividend yield currently Stable re-occurring wireless and software maintenance and subscription, and managed services revenue with opportunities to grow total revenue 10
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Contact Investor Relations Al Galgano + 1 (952) 224-6096 al.galgano@spok.com