Monitor wireless unit attrition trends and software bookings trajectory for signs of stabilization or further decline. The company's ability to sustain adjusted EBITDA guidance while managing wireless revenue erosion will be key for the stock.
Price Chart
Executive Summary
Spok reported Q3 2026 net income of $9.7M (up 203% YoY) and adjusted EBITDA of $8.6M (up 29.6% YoY), driven by the gain on sale of narrowband spectrum licenses and cost controls. Total revenue declined 2.6% YoY to $33.0M as wireless revenue fell 4.5% and software revenue slipped 0.4%. The company reiterated its full-year 2026 guidance for total revenue of $132.5M-$139.5M and adjusted EBITDA of $28M-$32M, and declared a $0.3125 quarterly dividend.
Key Financial Metrics
Key Facts
- Q3 2026 net income of $9.7M vs $3.2M in Q3 2025, up 203.4%
- Adjusted EBITDA of $8.6M, up 29.6% from $6.6M in Q3 2025
- Total revenue of $33.0M, down 2.6% from $33.9M in Q3 2025
- Wireless revenue of $17.0M, down 4.5% YoY; paging units declined 7.3% YoY to 634K
- Software revenue of $16.0M, down 0.4% YoY; license revenue up 29.5%, managed services up 30.3%
- Cash and cash equivalents of $30.1M, up from $25.3M at year-end 2025, with no debt
- Full-year 2026 guidance reiterated: total revenue $132.5M-$139.5M, adjusted EBITDA $28M-$32M
- Quarterly dividend of $0.3125 per share declared, payable December 9, 2026
Financial Impact
Net income increased $6.5M YoY to $9.7M; adjusted EBITDA up $2.0M to $8.6M; cash balance increased $4.8M from year-end 2025
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Wireless | $17.0M | -4.5% |
| Software | $16.0M | -0.4% |
Risk Factors
- Continued decline in wireless paging units in service (down 7.3% YoY) pressuring wireless revenue
- Software revenue growth remains tepid with total software revenue down 0.4% YoY
- Software operations bookings fell 28.3% YoY to $3.2M, signaling potential future revenue headwinds
- Dependence on narrowband license sales for cash generation; such sales may not recur
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001289945-26-000058 |
| Document: spok-20261028.htm | 0001289945-26-000058 |
| Document: 0001289945-26-000058-index-headers.html | 0001289945-26-000058 |
| Document: 0001289945-26-000058-index.html | 0001289945-26-000058 |
| Document: 0001289945-26-000058.txt | 0001289945-26-000058 |
| 8-K Data (Synthetic) | 0001289945-26-000058 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 today | 8-K | $11.78 | awaiting T+20 | awaiting T+20 | $10.18 (+13.58%) |
Oct 28, 2026 1d ago | 8-K | $10.18 | awaiting T+20 | awaiting T+20 | $10.18 (+0.00%) |
Aug 11, 2026 11w ago | Insider Cluster | $10.98 $10.63 | ▲ +3.19% | ▲ +1.29% | $10.18 (+7.29%) |
Jul 29, 2026 13w ago | 8-K | $10.75 $10.36 | ▲ +3.63% | ▲ +7.59% | $10.18 (+5.30%) |
Jun 17, 2026 19w ago | Insider Buy | $10.51 $10.65 | ▲ +1.33% | ▲ +1.95% | $10.18 (−3.14%) |
Jun 8, 2026 20w ago | DEFA14A | $10.66 $10.44 | ▼ −2.06% | ▼ −3.70% | $10.18 (−4.50%) |
Feb 26, 2026 35w ago | 8-K | $11.92 $11.13 | ▼ −6.63% | ▼ −0.21% | $10.18 (−14.60%) |
US Market Status
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