ARPA Improvement
Average revenue per account (ARPA) in the connectivity business increased 1.9% year-over-year to $1,253 in Q1 2026 from $1,229 in Q1 2025, driven by a shift toward higher-value customers and improved product mix.
Lower Customer Churn
Customer churn improved to 0.9% in Q1 2026 from 1.2% in Q1 2025, reflecting enhanced retention initiatives and stronger engagement with mid-market and enterprise customers.
Narrowing Net Loss
Net loss narrowed to $3.14 million in Q1 2026 compared to $3.5 million in Q1 2025, an improvement of approximately 10.3%, largely driven by changes in stock compensation expense and option cancellations.
Strong Cash Position
The company ended Q1 2026 with $9.8 million in cash and cash equivalents, providing liquidity to support ongoing strategic execution and operational changes.
Improving Bookings and Pipeline Momentum
Management reported increased sales bookings and an expanding pipeline in Q1 2026, with expectations to convert multisite deals later in the year and drive revenue growth in H2 (Q3/Q4).
Disciplined Cost Management and Operational Efficiency
Adjusted EBITDA remained positive at $931,000 in Q1 2026 and management emphasized significant cost discipline and ongoing efficiency measures across network footprint, infrastructure utilization and real estate.
Strategic Spectrum and Infrastructure Positioning
Management highlighted the strategic relevance of millimeter wave spectrum and wireless infrastructure (26 GHz and 38 GHz), noting potential upside from industry trends (AI, private wireless, 5G) and a pending ISED decision that could increase spectrum value or create mobile-use opportunities.