Business
Spok Reports Second Quarter 2024 Results
Software Operations Bookings Up 10.3% From Prior Quarter Year-Over-Year Software Revenue Performance Driven by Growth in Maintenance and Services ALEXANDRIA,
About this update from Spok Holdings, Inc.
[{"type":"text","content":"\nSoftware Operations Bookings Up 10.3% From Prior Quarter\n\n\nYear-Over-Year Software Revenue Performance Driven by Growth in Maintenance and Services\n\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, 2024. In addition, the Company’s Board of Directors declared a regular quarterly dividend of $0.3125 per share, payable on September 9, 2024, to stockholders of record on August 19, 2024.\n\n\nRecent Highlights:\n\n\n\nSoftware operations bookings totaled $8.7 million in the second quarter, up 10.3% from the first quarter of 2024\n\n\n\nSecond quarter software operations bookings included 18 six-figure customer contracts and one seven-figure customer contract\n\n\n\nSoftware backlog totaled $55.0 million at June 30, 2024, up nearly 4% from the prior year\n\n\n\nSecond quarter 2024 Wireless average revenue per unit (ARPU) was $7.84, up on a year-over-year basis\n\n\n\nImprovement in quarterly net unit churn at 0.8% in the second quarter, down from 1.6% in the prior quarter\n\n\n\nCapital returned to stockholders in the second quarter of 2024 totaled $6.3 million\n\n\n\nResearch and development costs total $6.1 million in the first six months of 2024, supporting Spok's investment in the Company's industry-leading solutions to fuel future growth\n\n\n\n\"Our goal has been and continues to be to reliably and consistently forecast and generate cash flow in order to return capital to our loyal stockholders over the long-term. We are achieving that goal,\" said Vincent D. Kelly, chief executive officer of Spok Holdings, Inc. \"I am proud of the performance our team was able to deliver in the second quarter as we continue to serve our customers at a high level, while returning capital to stockholders. I am particularly pleased with our performance in generating software operations bookings of $8.7 million in the second quarter, which was up more than 10% from our team's impressive performance in the first quarter of 2024. While we did not match the largest single customer contract in Spok’s history from the second quarter of 2023, our second quarter 2024 results were driven by a healthy mix of large deals and our average contract size continues to grow. Software sales are always going to be lumpy. Howeve...