Spok Reports Strong Q2 Software Bookings but Lowers Full-Year Revenue Outlook
Spok (NASDAQ:SPOK) reported second-quarter results for fiscal year 2026, marked by a nearly 92% sequential increase in software bookings driven by large healthcare contracts. The company also achieved record adjusted EBITDA and reduced operating expenses despite $1.5 million in restructuring costs. However, it lowered its full-year revenue guidance to a midpoint of $136 million due to extended sales cycles and customer preference for shorter-term agreements. CEO Vince Kelly highlighted 14 six-figure contracts and one seven-figure deal with a major Midwest healthcare provider handling over 20 million patient encounters annually. The company expanded services across multiple locations using its Care Connect platform, including alerting and alarm-routing solutions. CFO Michael Wallace noted strong profitability despite adjustments for severance costs. Spok also announced an $8 million spectrum sale expected to generate more than $7 million in Q3 cash flow, supporting continued dividend payments.
Tickers: $SPOK
Topics: adjusted EBITDA contract activity revenue guidance software bookings