Spok Holdings Q2 2024 10-Q Filed

TL;DR

Spok Holdings 10-Q filed: Q2 2024 financials out, showing wireless and software ops.

AI Summary

Spok Holdings, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported revenue from its Wireless Operations and Software Operations segments. Specific financial figures for these segments and comparative periods are detailed within the filing.

Why It Matters

This filing provides investors with an update on Spok Holdings' financial performance and operational segments for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 2024-07-25 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Spok Holdings, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240725 (date) — Date of filing

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share SPOK NASDAQ Indicate by che

Filing Documents

• spok-20240630.htm (10-Q) — 1107KB
• a2q24-ex311ceo302certifica.htm (EX-31.1) — 10KB
• a2q24-ex312cfo302certifica.htm (EX-31.2) — 10KB
• a2q24-ex321ceo906certifica.htm (EX-32.1) — 4KB
• a2q24-ex322cfo906certifica.htm (EX-32.2) — 4KB
• spok-20240630_g1.jpg (GRAPHIC) — 48KB
• 0001289945-24-000048.txt ( ) — 5322KB
• spok-20240630.xsd (EX-101.SCH) — 35KB
• spok-20240630_cal.xml (EX-101.CAL) — 54KB
• spok-20240630_def.xml (EX-101.DEF) — 154KB
• spok-20240630_lab.xml (EX-101.LAB) — 480KB
• spok-20240630_pre.xml (EX-101.PRE) — 324KB
• spok-20240630_htm.xml (XML) — 628KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 2 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (Unaudited) 7 Unaudited Notes to Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 28

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Other Information

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 31

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SPOK HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) June 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 23,875 $ 31,989 Accounts receivable, net 22,824 23,314 Prepaid expenses 8,590 7,885 Other current assets 858 704 Total current assets 56,147 63,892 Non-current assets: Property and equipment, net 7,056 7,321 Operating lease right-of-use assets 9,177 10,526 Goodwill 99,175 99,175 Deferred income tax assets, net 43,939 46,260 Other non-current assets 883 510 Total non-current assets 160,230 163,792 Total assets $ 216,377 $ 227,684 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 5,418 $ 5,969 Accrued compensation and benefits 4,922 7,284 Deferred revenue 25,239 26,298 Operating lease liabilities 3,352 4,184 Other current liabilities 4,425 4,273 Total current liabilities 43,356 48,008 Non-current liabilities: Asset retirement obligations 7,197 7,191 Operating lease liabilities 6,374 6,902 Other non-current liabilities 1,238 1,812 Total non-current liabilities 14,809 15,905 Total liabilities 58,165 63,913 Commitments and contingencies (Note 12) Stockholders' equity: Preferred stock $ — $ — Common stock 2 2 Additional paid-in capital 102,946 102,936 Accumulated other comprehensive loss ( 1,770 ) ( 1,764 ) Retained earnings 57,034 62,597 Total stockholders' equity 158,212 163,771 Total liabilities and stockholders' equity $ 216,377 $ 227,684 The accompanying notes are an integral part of these Condensed Consolidated Financial Statements. 2 SPOK HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS For the Three Months Ended June 30, For the Six Months Ended June 30, (Unaudited and in thousands except share and per share amounts) 2024 2023 2024 2023 Revenue: Wireless revenue $ 18,297 $ 18,877 $ 36,892 $ 37,905 Software revenue 15,685 17,586 31,999 31,738 To

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View this 10-Q filing on SEC EDGAR