SPOKSpok Holdings, Inc
Radiotelephone Communications
- Revenue
- $140M
- 1.5% YoY
- Operating margin
- 14.1%
- 2.4% YoY
- EBITDA
- $20M
- 3.9% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -1.5×
- −$30M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear182% of net incomeCash flow under 80% of net income
- Dilutive SBCClear4% of revenueOver 10% of revenue
- Payouts exceed cash flowClear94% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyFired50% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $142M | $135M | $139M | $138M | $140M | 1.5% |
| Operating income | −$28M | $238K | $21M | $19M | $20M | 3.9% |
| Net income | −$22M | $22M | $16M | $15M | $16M | 6.1% |
| Operating cash flow | $8M | $6M | $26M | $29M | $29M | 0.1% |
| Capex | $4M | $4M | $3M | $3M | $4M | 17% |
| Stock-based comp | $7M | $4M | $4M | $5M | $5M | 1.0% |
| Buybacks | $0 | — | — | — | — | |
| Dividends | $10M | $25M | $26M | $26M | $27M | 3.3% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $2M | $2M | 190 | 70 |
| FY2024 | $2M | $3M | 213 | 80 |
| FY2023 | $2M | $4M | 190 | 73 |
| FY2022 | $2M | $2M | 91 | 100 |
| FY2021 | $2M | $2M | 88 | 118 |