Business
Spok Reports Fourth Quarter and Full Year 2022 Results
Continued improvement in net income and adjusted EBITDA Company provides financial guidance for the full year 2023 Board Declares Regular Quarterly Dividend
About this update from Spok Holdings, Inc.
[{"type":"text","content":"\nContinued improvement in net income and adjusted EBITDA\n\nCompany provides financial guidance for the full year 2023\n\nBoard Declares Regular Quarterly Dividend\n\n ALEXANDRIA, Va.--(BUSINESS WIRE)--\nSpok Holdings, Inc. (NASDAQ: SPOK), a global leader in healthcare communications, today announced results for the fourth quarter and full year ended December 31, 2022. In addition, the Company’s Board of Directors declared a regular quarterly dividend of $0.3125 per share, payable on March 30, 2023, to stockholders of record on March 16, 2023.\n\nRecent Highlights:\n\n\nStrategic business plan continued to progress in the fourth quarter as the Company generated net income of $24.2 million, or $1.21 per diluted share, compared to a net loss of $16.7 million, or $0.86 per diluted share in the prior year period\n\n\nThe fourth quarter 2022 benefit from income taxes increased due to a $21.9 million non-cash gain related to the release of the previously established valuation allowance for net operating losses and research and development tax credits\n\n\nFor the full year 2022, the Company generated $24.5 million of adjusted EBITDA, excluding one-time costs related to the strategic business plan(1)\n\n\nWith the renewed focus on Spok Care Connect® clients, full year 2022 software operations bookings totaled $24.7 million, a 16.6% year-over-year increase\n\n\nFourth quarter 2022 software operations bookings included 17 six figure new customer contracts, bringing the full year total to 66 new contracts worth over six figures\n\n\nFourth quarter 2022 wireless average revenue per unit was $7.50, up 3.3% year-over-year, with units in service down only 3.5% for the full year 2022\n\n\nCapital returned to stockholders in 2022 totaled $25.0 million in the form of the Company’s regular quarterly dividend\n\n\nCash, cash equivalents and short-term investments balance of $35.8 million on December 31, 2022, and no debt\n\n\nIn October, Spok released the results of its 12th annual survey on communications in healthcare, with more than 200 participants from around the U.S. responding to questions regarding the state of communication at their respective organizations.\n\n\n\"I am proud of what the Spok team has been able to accomplish in 2022 and believe that we have established a solid foundation for the future as we continue to execute our focus...