Business
Spok Reports Second Quarter 2022 Results
Significant improvement in net income and adjusted EBITDA Company progressing ahead of schedule on strategic business plan Second quarter software bookings
About this update from Spok Holdings, Inc.
[{"type":"text","content":"\nSignificant improvement in net income and adjusted EBITDA\n\nCompany progressing ahead of schedule on strategic business plan\n\nSecond quarter software bookings up 51%, year-to-date software bookings up 23%\n\n ALEXANDRIA, Va.--(BUSINESS WIRE)--\nSpok Holdings, Inc. (NASDAQ: SPOK), a global leader in healthcare communications, today announced results for the second quarter ended June 30, 2022. In addition, the Company’s Board of Directors declared a regular quarterly dividend of $0.3125 per share, payable on September 9, 2022, to stockholders of record on August 17, 2022.\n\nRecent Highlights:\n\n\nThe tangible benefits of Spok's strategic business plan continued to become evident in the second quarter as the Company generated $1.9 million of net income and $3.7 million of adjusted EBITDA\n\n\nSecond quarter software bookings increased 51% as momentum increased in the second quarter post the strategic pivot announcement\n\n\nYear-to-date software bookings increased 23% with thirty-two deals worth over six figures each\n\n\nYear-to-date capital returned to stockholders totaled $12.7 million in the form of the Company’s regular quarterly dividend\n\n\nWireless units in service of 835,000 at June 30, 2022 down only 3,000 units from March 31, 2022 as net paging churn mitigates\n\n\nCash, cash equivalents and short-term investments balance of $38.4 million at June 30, 2022, and no debt, with cash flow generation expected to largely cover the dividend in the second half of 2022\n\n\nSigned a distribution agreement with inTechnology to enhance Spok’s ability to provide meaningful outcomes to its clients in the Asia Pacific region\n\n\n\"We are excited about the progress we have made during the second quarter on our strategic business plan, which is tracking well ahead of schedule,\" said Vincent D. Kelly, president and chief executive officer of Spok Holdings, Inc. \"With our renewed focus on the Care Connect Suite of solutions, we have been able to significantly increase bookings as we continue to work towards creating a more consistent revenue base. Our sales team has been extremely successful on selling our Care Connect Suite of solutions. Our customers have been delighted with our new plans to invest into the platforms they know and love. The pressures from the pandemic have somewhat subsided allowing for more face-to-face meeti...