Spok Q3 Net Income Jumps 203% on Spectrum Sale; Guidance Reiterated, 10%+ Dividend Kept
SPOK is trading near its 52-week low of $9.95 (2.3% above the low).
Summary
Spok reported Q3 2026 net income of $9.7M (up 203%, boosted by a $7.5M spectrum sale gain) and adjusted EBITDA of $8.6M, up 29.6%, while revenue fell 2.6%. It reiterated full-year guidance and kept its $0.3125 quarterly dividend.
Key Events · Earnings and Guidance · SPOK
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Q3 Earnings Beat Prior Year
Net income was $9.7M versus $3.2M a year ago, and adjusted EBITDA rose 29.6% to $8.6M, though total revenue slipped 2.6% to $33.0M.
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Spectrum Sale Adds $7.5M Cash
Closing the narrowband license sale added more than $7.5M after fees, lifting cash to $30.1M with no debt outstanding.
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Software Bookings and Backlog Fall
Software operations bookings dropped 28.3% to $3.2M and backlog fell 14.6% to $52.0M, the weakest part of the quarter.
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Guidance Reiterated, Not Raised
Full-year 2026 guidance held at $132.5M-$139.5M revenue and $28.0M-$32.0M adjusted EBITDA.
Analysis · SPOK · Technology
Headline net income of $9.7M is flattered by a $7.5M gain on selling narrowband spectrum licenses, so the cleaner read is adjusted EBITDA of $8.6M, up 29.6% on cost cuts while total revenue slipped 2.6% to $33.0M. The cash-generating core is holding up: $30.1M of cash, no debt, and $21.0M returned to stockholders over nine months. The soft spot is software, where bookings fell 28.3% to $3.2M and backlog dropped 14.6% to $52.0M, which is why management only reiterated rather than raised full-year guidance of $132.5M-$139.5M revenue and $28.0M-$32.0M adjusted EBITDA. With the stock near its 52-week low, the maintained $0.3125 quarterly dividend — above a 10% yield at today's price — is the main support for the shares.
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In the 30 days to Oct 28, 2026, 30.7% of the 1698 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, SPOK was trading at $10.18 on NASDAQ in the Technology sector, with a market capitalization of approximately $212.9M. The 52-week trading range was $9.95 to $16.45. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.