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Here are 1-2 brief analogies for Spok:

• The **Slack or Microsoft Teams for hospitals' clinical communication**.

• The **Motorola Solutions for internal, mission-critical hospital communication**.

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• Spok Care Connect Platform: An integrated communication platform that streamlines clinical workflows, improves care team collaboration, and enhances patient care coordination.
• Secure Messaging: Enables healthcare professionals to exchange secure, HIPAA-compliant messages and critical patient information across various devices.
• On-Call Scheduling: Provides tools for creating, managing, and distributing complex on-call schedules for medical staff, ensuring accurate contact information and efficient communication.
• Contact Center Solutions: Offers advanced call center software and directory management for hospital operators to efficiently route calls and manage communication for the entire organization.
• Enterprise Paging: Delivers reliable, wide-area critical messaging services, primarily for healthcare, valued for its dependability in critical situations.

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Spok (SPOK) sells primarily to other companies and organizations, not directly to individuals. Its customer base consists predominantly of healthcare providers and institutions.

Due to the diversified nature of its client base, Spok does not publicly disclose the names of specific major customer companies. According to its annual reports (e.g., 2023 Form 10-K), no single customer accounts for more than 10% of its consolidated revenue, which would typically trigger a disclosure requirement for major customers. Therefore, instead of listing specific company names, the major categories of organizations that Spok serves are:

• Hospitals and Large Healthcare Systems: This category represents Spok's core market, including individual acute care hospitals, multi-hospital systems, and integrated delivery networks (IDNs) that utilize Spok's critical communication and care coordination platforms.
• Government and Military Healthcare Facilities: This includes medical facilities operated by government entities, such as Veterans Affairs (VA) hospitals, military medical centers, and other public health organizations that require secure and efficient communication solutions for their operations.

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• Company: Amazon.com, Inc.
  Symbol: AMZN

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Vincent Kelly, President and CEO

Vincent Kelly has over 35 years of experience in the communications industry, with expertise in strategic planning, mergers, acquisitions, regulatory, and financial matters. He became a director, President, and CEO of Spok Holdings, Inc. (formerly USA Mobility, Inc.) in November 2004, following the merger of Metrocall, Inc. and Arch Wireless, Inc. Before the merger, Kelly held various roles at Metrocall, including CEO, COO, CFO, and Executive Vice President, having joined the company in 1987. In 2011, he was instrumental in the acquisition of Amcom Software, which led to Spok's pivot into a clinical communications and collaboration solutions provider. Kelly has served on multiple public company boards.

Calvin Rice, Chief Financial Officer

Calvin Rice was appointed Chief Financial Officer in August 2022. He previously served as Spok's Chief Accounting Officer since March 2020 and Controller since October 2018. Prior to these roles, he was a senior manager of revenue from March 2014 through December 2015 and then director of technical accounting and SEC reporting from January 2016 through October 2018 at Spok. Before joining Spok, Rice worked as a senior consultant with SC&H Group Inc., where he focused on internal audit and SOX compliance for software and technology companies.

Michael Wallace, President, Spok, Inc.; and Chief Operating Officer

Michael Wallace was named President of Spok, Inc., and Chief Operating Officer in August 2022, a role he has held as COO since January 2020. He previously served as Spok's Chief Financial Officer from March 2017 through July 2022. Wallace brings over 25 years of experience as a financial and operational executive in both public and private companies. Before Spok, he was the Executive Vice President and CFO at Intermedix from August 2013 to March 2017, where he also had operational responsibility for its offshore presence. His prior experience includes serving as Executive Vice President and CFO of The Elephant Group (d.b.a. Saveology.com), Senior Vice President and CFO of Radiology Corporation of America, and CFO at Inktel Direct, Corp., CELLIT Technologies, Inc., and Kellstrom Industries, Inc. Wallace also worked as an Assistant Chief Accountant in the Securities and Exchange Commission’s (SEC) Division of Enforcement and was a member of the Commission’s Financial Fraud Task Force.

Sharon Woods Keisling, Corporate Secretary and Treasurer

Sharon Woods Keisling manages treasury operations, facilities, and legal for Spok, bringing over 30 years of experience in the communications industry. She joined Metrocall, Inc. in August 1989 and was appointed corporate secretary of Spok (formerly USA Mobility, Inc.) in July 2007, and treasurer in October 2008. With the merger of Arch Wireless, Inc. and Metrocall, Inc., she was named Vice President of Treasury Operations.

Tim Tindle, Chief Information Officer and Chief Technology Officer

Tim Tindle joined Spok in 2019 and serves as Chief Information Officer, additionally appointed Chief Technology Officer in 2023. As CTO, he is responsible for Spok's wireless and software-based critical communications and collaboration products, and as CIO, he leads corporate information systems, information security, wireless engineering, and operations. Tindle has over four decades of experience as a technology executive and business leader, including serving as President of an international software development firm and as CIO for Harris Health System for 15 years. His early career involved driving technical innovation at Texas Instruments' R&D labs and being an early member of Compaq Computer Corp. Prior to Harris Health System, he was President at Agility Management, LLC, and before that, President and CEO of Analytical Technologies, Inc., which was acquired by Norrell Corporation in 1996.

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The public company Spok (SPOK) faces several key risks to its business, primarily stemming from the evolving healthcare communication landscape and the nature of its long-standing services.

1. Declining Demand for Wireless Messaging Services: Spok's wireless products and services, primarily pagers, have experienced a continuous decline in demand over several years, a trend expected to persist into the foreseeable future. This segment represented 55% of Spok's total consolidated revenue in 2023, and 56% in both 2022 and 2021, indicating a significant reliance on a shrinking market. The challenge for Spok is to mitigate this decline through new service offerings and by optimizing its revenue potential.
2. Intense Competition and Evolving Healthcare Communications Market: Spok operates in a rapidly changing healthcare communications market, which is shifting towards value-based purchasing models and increased digitization. The company faces substantial competition from new technologies and firms that possess greater financial and human capital resources. Competitors such as Voalte, Vocera, and PerfectServe are vying for market share, making it crucial for Spok to innovate and adapt its software solutions to maintain relevance and drive future growth.
3. Cybersecurity Threats: As a provider of healthcare communication solutions, Spok is exposed to significant cybersecurity risks. Unauthorized breaches or failures in its cybersecurity measures, or those embedded in its products and services, could lead to operational disruptions, data breaches, and reputational damage. Compliance with data privacy laws like HIPAA and GDPR is also critical, with potential liabilities for non-compliance.

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The increasing integration of secure communication and workflow management features directly into Electronic Health Record (EHR) systems by major vendors such as Epic and Oracle Health (formerly Cerner).

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Spok (symbol: SPOK) operates primarily in the healthcare communication sector, offering a unified clinical communication platform known as Spok Care Connect®, and also provides wireless messaging services.

The addressable markets for Spok's main products and services are as follows:

• Secure Messaging (part of Spok Care Connect): The global messaging security market size was valued at approximately $7.68 billion USD in 2024 and is projected to grow to $30.40 billion USD by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 19.2% during this forecast period. North America held the largest share of this market in 2024. Spok is recognized as a top vendor in clinical communications and secure messaging.
• Clinical Alarm Management (part of Spok Care Connect): The global Clinical Alarm Management Market is projected to grow from $3.9 billion USD in 2024 to $7.4 billion USD by 2034, expanding at a CAGR of 6.7%. Spok is a leading company in this market.
• Contact Center Solutions (part of Spok Care Connect): The global contact center software market size was valued at approximately $33.38 billion USD in 2023 and is expected to reach $149.58 billion USD by 2030, growing at a CAGR of 23.9%. North America dominated the contact center software market with a 35.90% share in 2022.
• Wireless Messaging Services (Paging): Spok is identified as the largest paging carrier in the U.S. While Spok maintains a leadership position in this specific segment, a distinct addressable market size for "paging services" as a standalone global or U.S. market is not readily available in the provided information. Paging is increasingly integrated into broader healthcare communication solutions.

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Expected drivers of future revenue growth for Spok (SPOK) over the next 2-3 years include:

• Growth in Managed Services and SaaS Offerings: Spok is strategically shifting its focus towards high-margin Software-as-a-Service (SaaS) products and managed services. This transition is expected to drive significant growth, as evidenced by triple-digit managed services growth and double-digit software revenue growth. This shift aims to establish a more predictable and expanding recurring revenue base.
• Increase in Wireless Average Revenue Per Unit (ARPU): The company has demonstrated consistent year-over-year increases in its wireless average revenue per unit (ARPU), indicating improved efficiency and customer retention within its wireless segment. This trend is expected to continue contributing to revenue stability and growth.
• Expansion of Software Operations Bookings and Backlog: Spok's growth in software operations bookings, which includes new customer contracts and incremental add-on sales to existing customers, is a key indicator of future revenue. The company's focus on multi-year and managed services bookings is leading to a growing software backlog, which directly translates into future software and professional services revenue.
• Growth in Professional Services Revenue: Directly linked to increased software operations bookings and the adoption of managed services, professional services revenue has shown substantial year-over-year growth. This indicates a strong demand for Spok's implementation, customization, and support services.

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Share Repurchases

• In February 2022, Spok's Board of Directors authorized a share repurchase program of up to $10 million of the company's common stock.
• As of September 30, 2025, Spok continues its capital return program which includes the $10 million share repurchase authorization, although no shares were repurchased for the nine months ended September 30, 2025.
• Over the last 20 years, Spok has returned more than $720 million to stockholders through various methods, including share repurchases.

Capital Expenditures

• Capital expenses for 2020 were reported at $3.5 million.
• As part of a new strategic business plan announced in February 2022, Spok aimed to reduce capital expenditures (CapEx).
• For 2025, Spok anticipates investing approximately $12 million in product research and development to drive future software revenue growth, with $9.1 million in research and development costs incurred through the first nine months of 2025.