Spok Holdings Q3 2024 Filing Released

TL;DR

**Spok Holdings Q3 2024: Financials Out**

AI Summary

Spok Holdings, Inc. reported its third-quarter results for the period ending September 30, 2024. The company's filing details its financial performance, including revenue components from wireless and software operations. Specific financial figures and operational details are provided within the report.

Why It Matters

This filing provides investors with an update on Spok Holdings' financial health and operational performance for the third quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard financial reporting for a public company, but the absence of specific financial performance metrics in the provided text necessitates a medium risk assessment.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 2024-10-31 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Spok Holdings, Inc. (company) — Filer of the 10-Q report
• USA Mobility, Inc. (company) — Former company name
• Wizards-Patriots Holdings, Inc. (company) — Former company name
• 20240930 (date) — End of the reporting period
• 20241031 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• spok-20240930.htm (10-Q) — 1127KB
• a3q24-ex311ceo302certifica.htm (EX-31.1) — 10KB
• a3q24-ex312cfo302certifica.htm (EX-31.2) — 10KB
• a3q24-ex321ceo906certifica.htm (EX-32.1) — 4KB
• a3q24-ex322cfo906certifica.htm (EX-32.2) — 4KB
• spok-20240930_g1.jpg (GRAPHIC) — 48KB
• 0001289945-24-000061.txt ( ) — 5387KB
• spok-20240930.xsd (EX-101.SCH) — 35KB
• spok-20240930_cal.xml (EX-101.CAL) — 54KB
• spok-20240930_def.xml (EX-101.DEF) — 169KB
• spok-20240930_lab.xml (EX-101.LAB) — 482KB
• spok-20240930_pre.xml (EX-101.PRE) — 326KB
• spok-20240930_htm.xml (XML) — 643KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 2 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 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 29

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 29

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) September 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 27,830 $ 31,989 Accounts receivable, net 21,377 23,314 Prepaid expenses 8,450 7,885 Other current assets 723 704 Total current assets 58,380 63,892 Non-current assets: Property and equipment, net 6,988 7,321 Operating lease right-of-use assets 8,597 10,526 Goodwill 99,175 99,175 Deferred income tax assets, net 42,635 46,260 Other non-current assets 987 510 Total non-current assets 158,382 163,792 Total assets $ 216,762 $ 227,684 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 3,944 $ 5,969 Accrued compensation and benefits 5,188 7,284 Deferred revenue 28,743 26,298 Operating lease liabilities 2,961 4,184 Other current liabilities 4,796 4,273 Total current liabilities 45,632 48,008 Non-current liabilities: Asset retirement obligations 7,268 7,191 Operating lease liabilities 6,148 6,902 Other non-current liabilities 1,426 1,812 Total non-current liabilities 14,842 15,905 Total liabilities 60,474 63,913 Commitments and contingencies (Note 12) Stockholders' equity: Preferred stock $ — $ — Common stock 2 2 Additional paid-in capital 104,119 102,936 Accumulated other comprehensive loss ( 1,747 ) ( 1,764 ) Retained earnings 53,914 62,597 Total stockholders' equity 156,288 163,771 Total liabilities and stockholders' equity $ 216,762 $ 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 September 30, For the Nine Months Ended September 30, (Unaudited and in thousands except share and per share amounts) 2024 2023 2024 2023 Revenue: Wireless revenue $ 18,261 $ 18,972 $ 55,153 $ 56,877 Software revenue 16,609 16,456 4

View Full Filing

View this 10-Q filing on SEC EDGAR