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Spok Holdings, Inc (SPOK) stock

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NASDAQ: SPOK Nasdaq Wireless Telecommunication Services Next results ~January 27, 2027

C+ Fundamentals grade

Spok Holdings, Inc is a US-listed company in the wireless telecommunication services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$19

Cash-flow model

Base case. Range ~$14–$24 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 53% above it.

Price used: $12.08, November 2, 2026

Spok Holdings, Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 2 selling4 purchases and 3 sales by directors and officers, last 12 monthsInsider trades
  • Funds78 adding, 61 cuttingOf 26 active managers that changed their stake, 15 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Spok Holdings files

10-Q filed October 29: Spok

Spok Holdings generated $135m in revenue over the twelve months to September 2026, a 3.3% decline on a year earlier and little changed from the pace seen a quarter before. Free-cash-flow margin, by contrast, climbed to 22.3% from 16.2%. Existing holders face some dilution, with the diluted share count up 2.4% on a year earlier. The fundamentals grade improves from C to B. Against a share price of $11.57, our model value sits largely unchanged at $15.48, and the rating remains Buy. At current levels, the market appears to be pricing in cash flow shrinking roughly 3.4% a year over five years, a steeper decline than the -1.0% a year revenue growth the company has actually delivered.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Spok stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $136m, down 3.4% on a year earlier, a steeper fall than the 1.7% decline a quarter earlier. Free-cash-flow margin held at 18.7%. Operating margin narrowed to 11.9% from 14.9%. The diluted share count is up 2.8% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $15.48 a share, against a share price of $11.53. At that price, our model says the market is pricing in cash flow shrinking about 3.3% a year for five years, slower than the -0.9% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 27, 2027 (estimated)

Spok Holdings, Inc's trailing-twelve-month revenue fell 3.3% year on year, with a free-cash-flow margin of 22.3%. Where it stands out: net margin of 13.9% ranks 1 of 7 wireless telecommunication services companies we cover. Where it lags: revenue growth of -3.3% ranks 6 of 7 wireless telecommunication services companies we cover.

Our discounted-cash-flow model values the business at ~$19 per share in the base case (~$14–$24 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 32.9% while net income grew 13.0%: a 20pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $12.08 is 53% below our value per share of $19.
  • Strong cash generation. 22.3% of revenue turned into free cash flow, against a median of 19.9% for wireless telecommunication services companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Revenue shrinking. Revenue fell 3.3% over the last 12 months.
  • Share dilution. Diluted shares rose 2.4% in a year.
  • Below peers: change in growth rate. Change in growth rate of +0.1pp ranks 6 of 7 wireless telecommunication services companies we cover (median +15.6pp).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$0.20 against an average estimate of $0.15: beat by 33.3%
Revenue
$33m, down 2.6% on a year earlier
Share reaction
+16.5% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Next report
October 28, 2026

Spok Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.8%
  • 1 week+18.3%
  • 1 month+10.9%
  • This year-0.3%
  • 1 year-5.8%
  • 5 years+89.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$135M
Operating margin
12.9%
Net margin
13.9%
EPS (TTM, diluted)
$0.88

Growth

Revenue growth
−3.3%
Change in growth rate
+0.1 pts
Share count change
+2.4%

Cash

Free cash flow (TTM)
$30.1M
FCF margin
22.3%
Stock pay % of revenue
4.4%

Earnings

Last results
October 28, 2026
Next results (est.)
January 27, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Announcement
  4. Results
  5. Shareholder vote

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Spok Holdings, Inc valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 6.2% a year for five years.That is slower than the -1.0% a year revenue growth Spok Holdings has delivered.

  • Priced in-6.2%
  • Last 12 months-3.3%
  • 3 years a year-0.8%
  • 5 years a year-1.0%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($12.02, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$19
Price used
$12.02close November 3, 2026
Implied change
▲ +54%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Spok Holdings, Inc's free cash flow after stock-based pay with after-tax interest added back ($21.5M, FY2026 Q3 TTM), growing 2% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$14–~$24 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Spok Holdings, Inc's free cash flow after stock-based pay ( $21.5M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Spok Holdings, Inc as an operating company, with every model that fits that kind of business. Cost of equity 7.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.67 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$19 ~$14–$24 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: fewer than 5 peers with a usable multiple
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$7.4 ~$5.7–$9.8 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$7.6 ~$6.7–$8.7 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$13 ~$7.4–$19 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Spok Holdings, Inc with Wireless Telecommunication Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +31%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▲ +35%
  • Discount rate 1 point higher ▼ −13%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $16$22$29$38$50$66
8.5% $13$17$22$28$37$48
10% $11$14$18$23$29$38

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$8.73$10.31$8.01$7.02$6.72$6.44$5.67$5.84$12.14$13.61$12.12$12.08
Market value$185m$212m$162m$138m$128m$122m$110m$117m$247m$280m$255m$257m
+ Net debt (− = net cash)−$109m−$122m−$103m−$83m−$47m−$49m−$45m−$36m−$32m−$29m−$25m−$30m
Enterprise value$76m$90m$59m$55m$81m$74m$65m$81m$215m$251m$230m$227m
Multiples
Price / sales 1.0x1.2x0.9x0.8x0.8x0.8x0.8x0.9x1.8x2.0x1.8x1.9x
Price / earnings 2.3x15.2x—————5.3x15.8x18.7x16.1x13.7x
Price / free cash flow 5.1x6.8x25.7x31.4x18.7x5.4x30.8x43.5x10.8x10.9x10.1x8.6x
EV / EBITDA 1.9x2.6x2.6x7.2x———21.2x8.4x10.8x9.9x10.7x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

60 /100

Moderate moat

How hard Spok Holdings's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 21.1% of total assets over 10 years.

  • Pricing power 20 / 20

    Gross margin has been a median 79.2%, moving by 1.9 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 3.5%; its worst year was -21.6%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 9 of 10 years, at a median 9.9% of revenue.

  • Discipline 12 / 20

    The diluted share count rose 10.7% over five years; stock-based pay has been a median 3.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (65 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Spok Holdings, Inc: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.15 $0.20 +33.3%
Mar 2026 $0.18 $0.09 −50.0%
Dec 2025 $0.18 $0.14 −22.2%
Sept 2025 $0.19 $0.15 −21.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Positioning

Short interest
3.4%
of tradable shares
Days to cover
5.06
at average volume
Short interest, 1 month
−4%
to October 15, 2026
Held by institutions
58%
of shares
Held by insiders
2.3%
of shares
Employees
421
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −5.8%

$12.82 on October 31, 2025 to $12.08

ThenNowEffect
Revenue (last 12 months) $141m $136m −3.4%
Net margin 12.1% 9.0% −25.7%
P/E multiple 15.6x 21.0x +34.9%
Share count 21m 21m −2.7%

Biggest factor: p/e multiple.

Last 3 years −1.4%

$12.25 on November 3, 2023 to $12.08

ThenNowEffect
Revenue (last 12 months) $137m $136m −0.5%
Net margin 25.6% 9.0% −64.9%
P/E multiple 7.1x 21.0x +196.1%
Share count 20m 21m −4.8%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SPOK−12%+3%+108%+12%−11%−0%
Industry peers (median)−6%−38%+9%+39%+7%−16%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SPOK33%58%75%58%50%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SPOK−41%−32%−21%−19%−31%−22%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 63% from January 4, 2017 to July 1, 2022. Getting back needed a 170% gain, reached on September 7, 2023, 433 days after the low.

Price behaviour

52-week range
$9.95 – $12.70
From 52-week high
−4.8%
vs 50-day average
+13.3%
vs 200-day average
+11.7%
Volatility (1 year)
31%
Beta vs S&P 500
0.01

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±8.4%
After a week
5 up, 6 down
typical move ±9.1%
After a month
5 up, 6 down
typical move ±8.7%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 +16.5% 0.0% — —
July 29, 2026 −1.3% +0.1% +3.2% −2.1%
April 29, 2026 −6.8% +1.0% −7.4% −5.0%
February 25, 2026 −13.7% +0.3% −11.3% −17.2%
October 29, 2025 −15.7% −1.1% −16.6% −17.1%
July 30, 2025 +7.4% −0.5% +7.6% +6.7%
April 30, 2025 +12.6% +0.7% +14.3% +14.6%
February 26, 2025 +0.1% −1.5% −3.3% −0.9%
October 30, 2024 +3.5% −2.3% +11.5% +11.2%
July 24, 2024 −7.2% −2.8% −7.6% −10.7%
May 1, 2024 −6.5% +0.6% −3.3% +0.4%
February 21, 2024 +10.0% +2.2% +14.0% +10.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Spok Holdings, Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Spok Holdings, Inc
$134M $136M $138M $140M $142M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $139M Revenue (TTM), FY24 Q1: $140.8M Revenue (TTM), FY24 Q2: $138.3M Revenue (TTM), FY24 Q3: $137.7M Revenue (TTM), FY24 Q4: $137.7M Revenue (TTM), FY25 Q1: $139M Revenue (TTM), FY25 Q2: $140.7M Revenue (TTM), FY25 Q3: $139.7M Revenue (TTM), FY25 Q4: $139.7M Revenue (TTM), FY26 Q1: $136.6M Revenue (TTM), FY26 Q2: $136M Revenue (TTM), FY26 Q3: $135.1M $135.1M

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $139M
FY24 Q1 $140.8M
FY24 Q2 $138.3M
FY24 Q3 $137.7M
FY24 Q4 $137.7M
FY25 Q1 $139M
FY25 Q2 $140.7M
FY25 Q3 $139.7M
FY25 Q4 $139.7M
FY26 Q1 $136.6M
FY26 Q2 $136M
FY26 Q3 $135.1M
Revenue growth, TTM YoY Spok Holdings, Inc
-5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 3.3% Revenue growth, TTM YoY, FY24 Q1: 5.1% Revenue growth, TTM YoY, FY24 Q2: 1.2% Revenue growth, TTM YoY, FY24 Q3: -0.4% Revenue growth, TTM YoY, FY24 Q4: -1.0% Revenue growth, TTM YoY, FY25 Q1: -1.2% Revenue growth, TTM YoY, FY25 Q2: 1.8% Revenue growth, TTM YoY, FY25 Q3: 1.5% Revenue growth, TTM YoY, FY25 Q4: 1.5% Revenue growth, TTM YoY, FY26 Q1: -1.7% Revenue growth, TTM YoY, FY26 Q2: -3.4% Revenue growth, TTM YoY, FY26 Q3: -3.3% -3.3%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 3.3%
FY24 Q1 5.1%
FY24 Q2 1.2%
FY24 Q3 -0.4%
FY24 Q4 -1.0%
FY25 Q1 -1.2%
FY25 Q2 1.8%
FY25 Q3 1.5%
FY25 Q4 1.5%
FY26 Q1 -1.7%
FY26 Q2 -3.4%
FY26 Q3 -3.3%
Operating margin (TTM) Spok Holdings, Inc
11% 12% 13% 14% 15% 16% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 15.3% Operating margin (TTM), FY24 Q1: 15.2% Operating margin (TTM), FY24 Q2: 14.2% Operating margin (TTM), FY24 Q3: 13.4% Operating margin (TTM), FY24 Q4: 13.8% Operating margin (TTM), FY25 Q1: 14.4% Operating margin (TTM), FY25 Q2: 14.9% Operating margin (TTM), FY25 Q3: 14.6% Operating margin (TTM), FY25 Q4: 14.1% Operating margin (TTM), FY26 Q1: 11.8% Operating margin (TTM), FY26 Q2: 11.9% Operating margin (TTM), FY26 Q3: 12.9% 12.9%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 15.3%
FY24 Q1 15.2%
FY24 Q2 14.2%
FY24 Q3 13.4%
FY24 Q4 13.8%
FY25 Q1 14.4%
FY25 Q2 14.9%
FY25 Q3 14.6%
FY25 Q4 14.1%
FY26 Q1 11.8%
FY26 Q2 11.9%
FY26 Q3 12.9%
FCF margin (TTM) Spok Holdings, Inc
14% 16% 18% 20% 22% 24% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 16.4% FCF margin (TTM), FY24 Q1: 15.6% FCF margin (TTM), FY24 Q2: 15.4% FCF margin (TTM), FY24 Q3: 21.0% FCF margin (TTM), FY24 Q4: 18.7% FCF margin (TTM), FY25 Q1: 18.8% FCF margin (TTM), FY25 Q2: 18.0% FCF margin (TTM), FY25 Q3: 16.2% FCF margin (TTM), FY25 Q4: 18.0% FCF margin (TTM), FY26 Q1: 18.7% FCF margin (TTM), FY26 Q2: 18.7% FCF margin (TTM), FY26 Q3: 22.3% 22.3%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 16.4%
FY24 Q1 15.6%
FY24 Q2 15.4%
FY24 Q3 21.0%
FY24 Q4 18.7%
FY25 Q1 18.8%
FY25 Q2 18.0%
FY25 Q3 16.2%
FY25 Q4 18.0%
FY26 Q1 18.7%
FY26 Q2 18.7%
FY26 Q3 22.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Spok Holdings took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $140M
  2. Other income $1.7M · 1.2%
  3. Cost of revenue $29.8M · 21.3%
  4. Gross profit $110M · 78.7%
  5. Research and development $12.2M · 8.7%
  6. Selling, general and admin $49.5M · 35.4%
  7. Other operating costs $28.5M · 20.4%
  8. Operating income $19.7M · 14.1%
  9. Income tax $5.6M · 4.0%
  10. Net income $15.9M · 11.4%

Shares of revenue. Source: Spok Holdings's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 290 233 234 220 210 200 190 180 171 169 160 148 142 135 139 138 140 135
Gross profit — — — 193 182 168 156 149 143 137 128 117 110 106 112 109 110 106
EBITDA 99 81 71 64 61 45 39 35 22 8 −7 −14 −17 4 26 23 23 21
Operating income 57 57 52 46 45 28 25 22 11 −3 −16 −23 −28 0 21 19 20 17
Net income 68 78 84 27 28 21 80 14 −15 −1 −11 −44 −22 22 16 15 16 19
Diluted EPS $2.90 $3.45 $3.72 $1.20 $1.25 $0.94 $3.98 $0.68 −$0.76 −$0.08 −$0.56 −$2.32 −$1.14 $1.09 $0.77 $0.73 $0.75 $0.88
Growth (year on year)
Revenue — −19.5% +0.2% −6.0% −4.5% −4.5% −5.3% −5.3% −4.7% −1.0% −5.4% −7.6% −4.1% −5.4% +3.3% −1.0% +1.5% −3.3%
EBITDA — −18.1% −12.5% −10.1% −5.2% −26.1% −12.8% −10.1% −36.4% −66.0% −186.4% — — — +575.3% −10.2% +0.1% −11.4%
Operating income — −0.4% −9.4% −11.8% −0.5% −38.1% −10.8% −11.7% −51.7% −129.6% — — — — — −10.7% +3.9% −14.5%
Net income — +15.3% +7.6% −67.8% +2.0% −24.6% +286.8% −82.6% −209.5% — — — — — −28.3% −4.5% +6.1% +13.0%
Diluted EPS — +19.0% +7.8% −67.7% +4.2% −24.8% +323.4% −82.9% −211.8% — — — — — −29.4% −5.2% +2.7% +10.4%
Margins
Gross margin — — — 87.7% 86.7% 83.7% 82.1% 82.9% 83.4% 80.9% 79.7% 79.1% 77.2% 79.0% 80.5% 79.1% 78.7% 78.6%
EBITDA margin 34.3% 34.9% 30.5% 29.1% 28.9% 22.4% 20.6% 19.6% 13.0% 4.5% −4.1% −9.2% −12.2% 2.8% 18.5% 16.8% 16.6% 15.7%
Operating margin 19.8% 24.5% 22.2% 20.8% 21.7% 14.1% 13.2% 12.3% 6.3% −1.9% −9.9% −15.3% −19.5% 0.2% 15.3% 13.8% 14.1% 12.9%
Net margin 23.3% 33.4% 35.9% 12.3% 13.1% 10.4% 42.3% 7.8% −8.9% −0.9% −6.7% −29.8% −15.6% 16.2% 11.3% 10.9% 11.4% 13.9%
Free-cash-flow margin 29.2% 30.3% 31.9% 28.6% 19.1% 16.9% 19.1% 17.4% 3.7% 2.6% 4.3% 15.3% 2.5% 2.0% 16.4% 18.7% 18.0% 22.3%
Cash flow
Cash from operations 102 79 82 73 50 42 42 38 16 10 12 26 8 6 26 29 29 33
Capital spending 17 9 8 10 10 8 6 6 9 6 5 3 4 4 3 3 4 3
Free cash flow 85 71 74 63 40 34 36 31 6 4 7 23 4 3 23 26 25 30
Stock-based pay 2 1 2 1 3 4 2 1 4 5 4 6 7 4 4 5 5 6
Free cash flow after stock pay 83 70 73 62 37 30 34 30 3 −1 3 17 −4 −1 19 21 20 24
Balance sheet
Cash 110 129 54 61 89 108 109 122 103 83 47 49 45 36 32 29 25 30
Total debt 0 0 28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −110 −129 −25 −61 −89 −108 −109 −122 −103 −83 −47 −49 −45 −36 −32 −29 −25 −30
Diluted shares 23m 23m 23m 22m 22m 22m 21m 21m 20m 20m 19m 19m 19m 20m 20m 21m 21m 21m
Returned to shareholders
Dividends 46 44 22 17 12 11 14 10 15 10 10 10 10 25 26 26 27 27
Buybacks 5 9 0 8 0 4 15 6 10 13 7 0 0 — — — — —
Total returned 50 53 22 25 12 15 29 17 25 24 16 10 10 25 26 26 27 27

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · September 30, 2026
What it owns · $198m
Short-term assets $57mLonger-term assets $141m
What it owes, and who funded it · $198m
Short-term liabilities $44mLonger-term liabilities $9mShareholders' equity $145m
  • Short-term assets cover short-term liabilities $57m of assets due within a year against $44m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $57m short-term assets against $9m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Spok Holdings, Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$27.4M
Diluted share count
+2.4%
year over year
Total shareholder yield
10.8%
dividends 10.8% + buybacks 0.0% of market value
Dividend payout ratio
146%
of net income paid out
R&D spending
9.6%
of revenue
Days sales outstanding
47 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in wireless telecommunication services
Last 12 months unless stated SPOK ASTS SURG CHAI ECHO VOD Median
Revenue, last 12 months $135m $115m $67m $55m $14.7bn $46.9bn $135m
Revenue growth, last 12 months −3.3% 706.3% 83.9% 58.6% −5.2% 16.6% 16.6%
Revenue growth, 3-year average −0.8% 160.0% −22.3% — −6.4% — −0.8%
Revenue growth, latest quarter −2.6% >999% 40.7% — −4.0% — 7.4%
Gross margin 78.6% 0.0% −19.6% −0.5% — 31.5% 15.7%
Operating margin 12.9% −38.6% −41.0% −12.9% −112.7% 7.0% −12.9%
Operating margin, 3-year average 13.6% — −58.6% — −40.7% 10.6% 10.6%
Net margin 13.9% −536.7% −47.9% −57.2% −38.7% −1.0% −38.7%
Cash from operations / revenue 24.7% −125.5% −23.0% −12.0% −0.6% 35.3% −0.6%
Free-cash-flow margin 22.3% <−999% −23.0% — −4.9% 23.3% 7.5%
Free-cash-flow margin, 3-year average 19.8% <−999% −36.1% — −4.1% 26.2% 7.4%
Stock pay / revenue 4.4% 128.3% 0.2% — 0.5% 0.3% 0.7%
Change in share count 2.4% — 14.9% — −4.6% −8.1% −4.2%

Median of all 7 companies we cover in wireless telecommunication services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

7 wireless telecommunication services companies
Measure Company Peer median Rank
Revenue growth Growth -3.3% 16.6% 6 of 7
Change in growth rate Growth +0.1pp +15.6pp 6 of 7
Operating margin Profitability 12.9% 7.0% 2 of 6
Net margin Profitability 13.9% -38.7% 1 of 7
Free-cash-flow margin Cash generation 22.3% 19.9% 2 of 6
Days sales outstanding Balance sheet 47 days 38 days 5 of 7

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Wireless Operations $72.5M 52.4% ▼ 1.4%
Paging $68.6M 94.5% ▼ 3.4%
Other $4M 5.5% ▲ 54.5%
License and Maintenance $36.4M 26.3% ▼ 2.1%
Professional Services Projects $15.5M 11.2% ▲ 6.0%
Licenses $7.3M 5.3% ▼ 3.9%
Professional Services Managed Services $6.6M 4.8% ▲ 103.2%
Geography
Region Revenue Share YoY
United States $137M 98.1% ▲ 1.5%
Outside the US $2.7M 1.9% ▲ 1.8%

From Spok Holdings, Inc's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$111M
Institutions reporting
132
Shares held vs prior quarter
▲ 3.2%
Positions opened / closed
20 / 22

Top buyers and sellers, Q2 2026: 78 institutions bought and 61 sold ; the biggest buyer was Citadel Advisors LLC (+166K shares) and the biggest seller Renaissance Technologies LLC (−113K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $17.6M 1.7M 15.9% ▲ 2.6%
Renaissance Technologies LLC $11.8M 1.1M 10.6% ▼ 9.0%
Vanguard Capital Management LLC $8.9M 872K 8.1% ▲ 1.5%
Dimensional Fund Advisors LP $7.3M 718K 6.6% ▲ 0.2%
Geode Capital Management, LLC $6.1M 596K 5.5% ▲ 9.2%
State Street Corp $4.8M 472K 4.4% ▲ 2.1%
Hightower Advisors, LLC $3.5M 340K 3.1% ▼ 11.0%
Qube Research & Technologies Ltd $2.9M 288K 2.7% ▲ 67.2%
Goldman Sachs Group Inc $2.9M 282K 2.6% ▲ 28.4%
Vanguard Portfolio Management LLC $2.8M 273K 2.5% ▲ 3.1%
Bank Of New York Mellon Corp $2.4M 234K 2.2% ▲ 7.5%
Northern Trust Corp $2.3M 223K 2.1% ▲ 2.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Spok Holdings, Inc's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $473,524 4 trades by 2 insiders, last 12 months Insider sales History → $429,846 3 trades by 2 insiders · 0% under pre-set plans
Net ▲ $43,678 net buying
Insider Date Trade Shares Price Value
Woods-Keisling Sharon Corporate Secretary, Treasurer August 10, 2026 Sell 20,000 $11.30 $225,940
Cournoyer Christine Director August 10, 2026 Sell 8,320 $11.28 $93,870
Stein Todd J Director June 16, 2026 Buy 0 — $0
Stein Todd J Director June 16, 2026 Buy 35,211 $10.41 $366,705
Kelly Vincent D President & CEO May 12, 2026 Buy 5,000 $10.70 $53,477
Kelly Vincent D President & CEO May 11, 2026 Buy 5,000 $10.67 $53,342
Woods-Keisling Sharon Corporate Secretary, Treasurer May 5, 2026 Sell 10,000 $11.00 $110,036

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 27, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 29, 2026
  • April 29, 2026
  • February 25, 2026
  • October 29, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Spok Holdings, Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Spok Holdings, Inc in brief

What does Spok Holdings, Inc do?
Spok Holdings, Inc is a US-listed company in the wireless telecommunication services industry. Its financial year ends in December.
What is Spok Holdings, Inc's stock ticker?
Spok Holdings, Inc trades under the ticker SPOK on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Spok Holdings, Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Spok Holdings, Inc reported revenue of $135M, 3.3% lower than a year earlier, according to its SEC filings.
What is Spok Holdings, Inc's free cash flow?
Spok Holdings, Inc's free-cash-flow margin is 22.3% of revenue over the trailing twelve months, ranking 2 of the 6 wireless telecommunication services companies we cover.
What is Spok Holdings, Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Spok Holdings, Inc's free cash flow after stock-based pay gives ~$19 per share in the base case, and ~$14–$24 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Spok Holdings, Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Renaissance Technologies LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Spok Holdings, Inc's market cap?
On November 2, 2026, Spok Holdings, Inc's market capitalisation was about $257M, with a price-to-earnings ratio of 13.7 and net debt of -$30.1M. Market figures come from third-party market data and may be delayed.
Does Spok Holdings, Inc pay a dividend?
Yes: Spok Holdings, Inc paid $27.4M in dividends over the trailing twelve months, a dividend yield of 10.85% and a payout ratio of 146.2%.
Who are Spok Holdings, Inc's competitors?
In our Wireless Telecommunication Services peer group, the companies closest to Spok Holdings, Inc are AST Spacemobile, Inc., Surgepays, Inc., Core AI Holdings, Inc., EchoStar and Vodafone Group Public LTD Co. The side-by-side comparison below sets their revenue, margins and growth against Spok Holdings, Inc's.
Are insiders buying or selling Spok Holdings, Inc stock?
Over the last 12 months, Spok Holdings, Inc's directors and officers reported 4 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is Spok Holdings, Inc's next earnings date?
Around January 27, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Spok Holdings, Inc announces its own schedule.