Spok Holdings (FQV) Q2 2026 Earnings Report

The call balanced clear operational and financial progress (notably a 92% sequential bookings increase, record adjusted EBITDA, expense reductions, strong managed services growth, significant license revenue growth, and an $8M spectrum sale) against near‑term demand and booking dynamics (longer sales cycles, preference for shorter contract terms, slight revenue midpoint reduction, and modest wireless unit declines). Management retained the adjusted EBITDA midpoint and emphasized capital returns and continued investment in product development, signaling confidence in the company’s ability to offset revenue pressure with margin and cash generation initiatives. Overall, the tone was constructive with caution about near‑term revenue visibility.

Management revised 2026 guidance to total revenue of $132.5M–$139.5M (midpoint $136M) and adjusted EBITDA of $28M–$32M (midpoint $30M), with wireless revenue now expected at $67M–$70M and software revenue $65.5M–$69.5M; the revenue midpoint was trimmed due to lumpiness in bookings and a pipeline where deals are taking longer and skewing to shorter/cancelable terms despite a 92% sequential jump in software operations bookings in Q2. Management said strategic realignment and cost reductions should offset revenue pressure, ARPU was stable at $8.20, Q2 license revenue was $3.6M (vs. $2.4M a year ago) and managed professional services totaled $2.3M (up 53% YoY), and they now expect to exit 2026 with $26M–$29M in cash (Q2 cash $16.6M) including a >$7M Q3 cash contribution from the $8M spectrum sale.