Q2 2024 Spok Holdings Inc Earnings Call Transcript
Key Points
- Spok Holdings Inc (SPOK) reported over $7 million in adjusted EBITDA for Q2 2024, covering the $6.3 million returned to stockholders.
- The company saw a more than 10% growth in second-quarter software operations bookings compared to the first quarter.
- Net unit churn in the wireless segment dropped below 1% in Q2 2024, significantly improving from the prior quarter.
- Spok Holdings Inc (SPOK) maintains strong relationships with top healthcare systems in the nation, contributing to consistent sales.
- The company reiterated its financial guidance for 2024, expecting total revenue to range from $136 million to $144 million and adjusted EBITDA to range from $27.5 million to $32.5 million.
- Total GAAP revenue for Q2 2024 was $34 million, down from $36.5 million in the prior year.
- License and hardware revenue in Q2 2024 totaled $2 million, a significant drop from $4.6 million in the same period of 2023.
- GAAP net income for Q2 2024 was $3.4 million, down from $4.7 million in Q2 2023.
- The company experienced a sequential step down in wireless ARPU, which was unexpected given recent price increases and the rollout of new GenA pagers.
- Adjusted EBITDA in Q2 2024 was $7 million, down from $8.5 million in the prior year period, reflecting a highly successful Q2 2023 that was not replicated.
Greetings and welcome to the Spok Holdings's Q4 -- I'm sorry, Q2 2024 earnings results call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Al Galgano, Investor Relations. Thank you. You may begin.
Hello, everyone, and welcome to Spok Holdings's second-quarter 2024 earnings call. I am joined by Vince Kelly, Chief Executive Officer; Mike Wallace, President of Spok Inc. and Chief Operating Officer; and Calvin Rice, Chief Financial Officer.
I want to remind everyone that today's conference call may include forward-looking statements that are subject to risks and uncertainties relating to Spok's future financial and business performance. Such statements may include estimates of revenue, expenses, and income, as well as other predictive statements or plans which are dependent upon future events or conditions. These statements represent the company's estimates only on the date of this conference call and are not intended to
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