LICT Corp. · OTC:LICT
LICT — Sidoti Spring Conference 2025
29 slides from LICT's conference presentation, Mar 20, 2025
Slide 1: LICT Corporation
LICT Corporation Provider of Broadband Communication Services to Rural America Sidoti Spring Conference Presentation March 20, 2025
Slide 2: Stephen J. Moore and Christian Mueller
STEPHEN J. MOORE Vice President-Finance CHRISTIAN MUELLER Corporate Controller
Slide 3: LICT
LICT www.LICTcorp.com
Slide 4: Safe Harbor Statement
Safe Harbor Statement Safe Harbor Statement The information contained herein is current only as of the date hereof; however, unless otherwise indicated, financial information contained herein is as of December 31, 2023. The business, prospects, financial condition or performance of LICT Corporation
Slide 5: Key Strengths
Key Strengths • Diverse Revenues Streams – Fiber / Fixed Wireless / Cable – Business / Residential – Regulated / Non-Regulated • E-ACAM $37.2 million annually – 2024 – 2038 • Staff • Rural nature of organization 5
Slide 6: LICT Today
LICT Today Cal-Ore Central Scott CentraCom Cuba City JBN Haviland Western New Mexico 6
Slide 7: Background
Background • Assumed control of Lynch Corporation in 1985 • Made first Rural Local Exchange Carrier acquisition in 1989 • LICT spun- off from Lynch in 1999 – 37 acquisitions • Manti (non-regulated 2023, reg 2025) – 9 spin-offs • Michigan in 2023 – Fiber, Fixed Wireless Growth and Spectrum initiative
Slide 8: Major Initiatives of 2024
Major Initiatives of 2024 • E-ACAM 2024 – 2038 • Wireless 5G – Sound Broadband • Continued work on Grants • Manti Acquisition • Integration of the Manti non-regulated acquisition • Completion of the Manti regulated business acquisition • Shareholder Compensation 8
Slide 9: Utah
UTAH Salt Lake City – 210,000+ Provo – 110,000+ Incumbent Area – 34,000 + St George – 110,000+ 9
Slide 10: Iowa/Wisconsin
Iowa/Wisconsin Dubuque – 55,000+ Incumbent Market – 11,500+ Davenport – 100,000+ Bettendorf - 40,000 10
Slide 11: SAAAS
S - Speed A - Accessibility A - Affordability S - Service
Slide 12: Surge in Public Funding
Surge in Public Funding • Enhanced Alternative Connect America Model (E-ACAM) • Universal Service Funds • Federal/State Loans and Grants • Infrastructure Bill - Bead 12
Slide 13: Opportunities/Challenges
Opportunities/Challenges • Government Funding – Affordable Connectivity Program-Ended May of 2024 • LICT continues support through June 2025 – Pressure on continuation of government funding programs • No impact on current broadband initiatives - to date • Future programs will allow for Alternative T
Slide 14: Growth Strategy
Growth Strategy • Expand Fiber & Fixed Wireless Network • Broadband • E-ACAM • Out of Territory • Acquisitions • Additional Offerings 14
Slide 15: Christian Mueller, Corporate Controller
CHRISTIAN MUELLER CORPORATE CONTROLLER
Slide 16: Financials
FINANCIALS
Slide 17: Financial Overview
Financial Overview (000’s) 2024 2023 Revenue $134,300 $116,500 EBITDA from Operations $55,400 $45,600 EPS-Continuing Operations $845 $802 Capital Expenditures $51,900 $37,400 Shares Outstanding 16,173 16,971 17
Slide 18: Revenue Mix
Revenue Mix (000s) 2024 2020 $59,100 $75,200 $50,300 $59,100 44% 56% 46% 54% Total Revenue: Total Revenue: $134,300 $108,200 Regulated Revenue Non-Regulated Revenue 18
Slide 19: CapEx
CapEx Network Expansion – over next 4 years $440 +/- million Gross $150 +/- million Grants $290 +/- million Net of grants 19
Slide 20: Liquidity and Leverage
Liquidity and Leverage ($ 000’s) 2024 Cash and Deposits $10,046 Debt 66,636 Net Debt $56,590 (1 x EBITDA) 20
Slide 21: Investments
Investments • MachTen • CIBL • Aureon/KFN/CVIN 21
Slide 22: Spectrum
Spectrum • Spectrum licenses Auction Band MHz Pop Licenses 108 EBS – 2.5 GHz 76,271,224 46 110 3.45-3.55 GHz 27,933,440 24 107 3.7-3.98 GHz 8,517,320 5 105 3.6- 3.7 GHz 83,940,600 162 1002 600 MHz 5,119,020 2 102 24 GHz 924,686,000 10 101 28 GHz 49,811,700 47 103 37/39/47 GHz 35,940,600 5 97/AWS PCS
Slide 23: Shareholder Compensation
SHAREHOLDER COMPENSATION Charitable Giving Share Repurchases
Slide 24: Charitable Giving
CHARITABLE GIVING 2024- $1.2 million $10.2 million since inception in 2016
Slide 25: Share Repurchases
Share Repurchases # of Shares Repurchase Year End Year Repurchased Cost $ Shares O/S 2024 798 $11,713 16,173 2023 370 6,746 16,971 2022 530 12,297 17,341 2021 622 15,217 17,871 2020 655 11,018 18,533 2019 743 $12,437 19,188 25
Slide 26: Summary
Summary History of Shareholder Value • E -ACAM Opportunity • Incumbent Markets - Maximize Broadband Speeds • Growth • Fiber Expansion - Grow and Diversify Revenue • Fixed Wireless Broadband High Speed Capabilities • Significant expansion of broadband services • Acquisitions • Giving back to strength
Slide 27: Q&A
Q&A
Slide 28: Thank You
THANK YOU
Slide 29: LICT Corporation Sidoti Presentation
LICT Corporation Provider of Communication Services to Rural America Sidoti Presentation March 20, 2025