Spok Holdings, Inc. · NASDAQ:SPOK
Spok — Investor Presentation (October 2026)
31 slides from Spok's investor presentation, Oct 29, 2026
Slide 1: Investor Presentation October 2026
Investor Presentation October 2026
Slide 2: Safe Harbor Statement
2 Safe Harbor Statement Statements contained herein or in prior press releases which are not historical fact, such as statements regarding our future operating and financial performance, are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation
Slide 3: Our Mission & Investment Highlights
Our Mission & Investment Highlights
Slide 4: Key Investment Highlights
4 Key Investment Highlights Significant Annual Free Cash Flow Generation and Strong Balance Sheet Substantial cash flow being returned to shareholders through considerable quarterly dividend, no debt Software Operations Bookings Momentum, Large Identified Pipeline Expanding software pipeline convert
Slide 5: Strategic Goal: Run the business profitably and generate cash
5 Strategic Goal: Run the business profitably and generate cash Returning capital to stockholders is our goal as well as our legacy • Nearly $750 million returned to stockholders since 2004 • 2024 capital return - $26.4 million • 2025 capital return - $27.3 million • 2026 capital return - >$27 milli
Slide 6: Continuing History of Service and Commitment
6 Continuing History of Service and Commitment Leader in healthcare communications - A critical communications & collaboration solution provider. Significant experience integrating to critical hospital contact centers, EHRs and many other core healthcare information systems. We continue to invest in
Slide 7: Our Plan
Our Plan Growth in value and return of capital 7 Long-term objective • Growing cash flow while growing our top line through growth in software revenue Short-term energy focus 1. Software Bookings: Achieve plan and show YoY growth 2. Product Roadmap Progress: Demonstrable benefit to the business and
Slide 8: Healthcare responds to fiscal challenges
8 Healthcare responds to fiscal challenges Changes in economic conditions Fiscal alignment of healthcare IT strategy Staff Shortages (Nursing, IT and others) High Labor Costs Higher Capital Cost/Reduced Capital Spending High Inflation Economic Recession Thinner Margins Tighter IT Budge
Slide 9: Spok responds to fiscal challenges
9 Spok responds to fiscal challenges New product release cadence Provide 3- or 5-year managed maintenance & services agreement Limit costly major upgrades to a 3- to 4-year cycle Deliver product enhancements releases twice/year with minor in-place upgrades Perform benefit realization assessmen
Slide 10: Secure Messaging & Clinical Communications Solutions
10 Secure Messaging & Clinical Communications Solutions • Survey period: Q4 2025 – Q1 2026 • 1,416 respondents representing health systems, critical access hospitals, academic medical centers, diagnostic service providers, and others • Black Book collects ballot results on 18 performance areas of op
Slide 11: Critical Alert Messaging & Management Solutions
11 Critical Alert Messaging & Management Solutions • Survey period: Q2 2025 – Q1 2026 • 854 respondents representing health systems, critical access hospitals, academic medical centers, diagnostic service providers, and others • Black Book collects ballot results on 18 performance areas of operation
Slide 12: Longstanding customer relationships
12 Longstanding customer relationships Spok has an average relationship tenure of 27 years with the U.S. News & World Report’s “Best Hospitals” TenureWirelessSoftwareCustomer 24 33 47 32 29 17 33 Florida TenureWirelessSoftwareCustomer 40 30 25 23 23 19 21 Top 20 adu
Slide 13: 2026 Spok US hospital customers by lines of business
13 2026 Spok US hospital customers by lines of business* Wireless Only 866 51% Software Only 492 29% Both 327 19% 1,685 total Spok customers Total Population 7,114* 23% Market Penetration Software market share by bed size *As of October 2026. Assessment based on Company estimates. Subject to change.
Slide 14: Spok Leadership Team
14 Spok Leadership Team Sharon Woods Keisling Corporate Secretary and Treasurer Renee Hall Chief Compliance Officer VP of Human Resources Vince Kelly Chief Executive Officer Mike Wallace Chief Operating Officer and Chief Financial Officer Jonathan Wax EVP of Global Sales Mike Czop Chief Information
Slide 15: Business Strategy
:: Business Strategy
Slide 16: Overall Strategy
16 Overall Strategy Critical Communications Purpose Built Over Time Evolution of Spok • Acquiring new customers by further penetrating the hospitals domestically with significant opportunity outside the U.S. • Continuing to expand relationships within the existing customer base with additional R&D s
Slide 17: Software Strategy
17 Software Strategy • With Spok Care Connect, the contact center is the base, with products like Spok® Messenger and Spok Mobile® sold as accessories to our contact center solution, which are all on- premise solutions Wireless Network Integration Spok Care Connect… …Product Direction • Spok has red
Slide 18: Wireless Strategy
18 Wireless Strategy Spok continues to maximize Wireless cash flow by pursuing a strategy of simultaneously minimizing churn and revenue erosion while maximizing margins through network cost reduction efforts Network Rationalization Plan The Company has ongoing efforts to manage network capacity and
Slide 19: Focus on Healthcare
61% H e a l t h c a r e Other Large Enterprise Government 2012 19 Focus on Healthcare >85% H e a l t h c a r e Government Large Enterprise Other 2026 Percentage of revenue
Slide 20: Spok Care Connect Market Size
20 Spok Care Connect Market Size 7.37 billion (2025 $2.54B) Total Addressable Market (by 2035) 11.24 CAGR from 2026 to 2035 Growth Rate Largest Market 30% 762 million In 2025 North America Market Size Source: Precedence Research
Slide 21: Spok Care Connect Competitive Positioning
21 Spok Care Connect Competitive Positioning Key value propositions Strategic partner that solves enterprise challenges from one platform allowing the right message to get to the right person on the right device Source of truth, especially in complex IDNs, for the directory and on-call schedules
Slide 22: Financials
::: Financials
Slide 23: Third Quarter 2026 Financial Results
Third Quarter 2026 Financial Results 23 For the Nine Months Ended September 30, For the Three Months Ended September 30, 2025202620252026 $105.8$101.2$33.9$33.0Total Revenue $54.7$51.7$17.8$17.0Wireless $51.1$49.5$16.1$16.0Software $22.3$23.0$6.6$8.6Adjusted EBITDA(1) • Capital returned to stockhold
Slide 24: 2026 Third Quarter Sales Highlights
2026 Third Quarter Sales Highlights • Through the first three quarters of 2026, software operations bookings total 42 six-and seven-figure customer agreements • Software license revenue and managed services revenue up 29.5% and 30.3%, respectively, in the third quarter • Year-over-year wireless reve
Slide 25: Balance Sheet
25 Balance Sheet • Exceptionally clean and simple balance sheet • No debt • Common stock only • $30.1 million of cash and equivalents • Significant deferred tax assets to shield income from federal taxes for many years
Slide 26: 2026 Financial Outlook
2026 Financial Outlook 26 (Dollars in millions) ((1) Adjusted EBITDA represents net income/(loss) before interest income/expense, income tax benefit/expense, depreciation and accretion expense, stock-based compensation expense, impairment of intangible assets, legal costs unrelated to core business
Slide 27: Capital Allocation
::: Capital Allocation
Slide 28: Capital Allocation
Capital Allocation Return of Capital • Higher $1.25 per share annual dividend since February 2022 • Opportunistic capital deployment for shareholder value via share repurchase authorization – current basket of $10.0 million M&A • Not a current focus/priority • Will be opportunistic for potential to
Slide 29: History of Adjusted FCF generation and return of capital
29 History of Adjusted FCF generation and return of capital • Since the 2004 merger, Spok has generated nearly $1.1 billion in cumulative free cash flow. • Both our Wireless and Software businesses drive significant FCF and allow for the continued investment in our software business. 0 200 400 600 8
Slide 30: Wrap-Up
30 Wrap-Up Enormous customer base and strong relationships with leading healthcare providers Largest wireless paging network in the country with 634,000 units in service No debt, $30.1 million cash balance, significant deferred tax assets, substantial dividend yield currently Stable re-occurring wir
Slide 31: Thank You
Thank You Contact Investor Relations: Al Galgano + 1 (952) 224-6096 [email protected]