- Non-regulated revenue climbed 12% to $21.2 million, from $18.9 million in the prior-year quarter, with overall revenues rising to $36.1 million from $33.7 million in the third quarter of 2024.
- EBITDA increased 11%, to $15.2 million from $13.7 million in the third quarter of 2024.
- Third Quarter earnings per share (EPS) totaled $233 per share, versus $228 per share in the third quarter of 2024.
- Fourth Quarter 2025 EPS are expected to be approximately $240, compared with adjusted EPS of $131 in the fourth quarter of 2024.
- Net Debt is 1.2x trailing 12-month EBITDA.
- The Company continues to benefit from accelerated depreciation provisions under federal tax law that went into effect in July 2025.
- Approved Designated Charitable Contributions to Registered Shareholders.
Rye, NY – May 23, 2025 – LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT) reports financial results for the quarter ended March 31, 2025.
Rye, NY – December 9, 2025 – LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT), an integrated provider of broadband and voice services, today announces its financial results for the quarter ended September 30, 2025.
Shareholder Designated Charitable Contribution Program (Update)
As previously announced in our November 19, 2025, press release, LICT’s Board of Directors approved the Shareholder Designated Charitable Contribution Program with a contribution of $100 per share for registered shareholders. Shareholders will have until December 15, 2025, to register shares in their own name to participate in the program. Since the program’s inception in 2016, LICT has contributed over$10 million to shareholder-designated charities.
Results from Operations Third Quarter 2025
Revenues
Total revenues were $36.1 million in the third quarter of 2025 compared with $33.7 million
in the third quarter of 2024.
Non-regulated revenues rose to $21.2 million, compared with $18.9 million in the third quarter of 2024.
Regulated revenues were $14.9 million in the third quarter of 2025, versus $14.8 million in the third quarter of 2024. Third quarter of 2025 results also include regulated revenues from Manti Telephone Company (MTC), which was acquired on January 1, 2025; MTC contributed $0.9 million in regulated revenue this quarter.
EBITDA
EBITDA for the third quarter of 2025 increased $1.5 million, or 11%, to $15.2 million, compared to $13.7 million for the same period in 2024. The improvement was driven by higher revenues within our non-regulated operations, partially offset by higher operating expenses. We expect EBITDA margins to benefit as more projects move from planning to execution.
Non-regulated EBITDA for the third quarter of 2025 increased $2.7 million, or 40%, to
$9.4 million, compared with $6.7 million in the third quarter of 2024, reflecting $1.7 million of construction revenue recognized on a fiber-build project at one of our subsidiaries for a middle mile provider. Regulated EBITDA for the third quarter of 2025 was $5.9 million, compared to $7.0 million in the same period of 2024, reflecting a decrease of $1.1 million, or 15.7%. The decline was primarily driven by lower regulated revenues due to mandated pricing adjustments and higher operating expenses.
Net Income and Earnings per Share
Net income for the third quarter of 2025 was $3.6 million, or $233 per share, compared to
$3.8 million, or $228 per share, for the same period in 2024. The $0.2 million, or 5.3%, year-over-yeardecrease in net income was primarily driven by higher depreciation expense, as well as higher operating and non-operating expenses. Total costs and expenses increased by $2.8 million, largely due to a $0.8 million rise in cost of revenue, which reflected expanded staffing, increased use of professional services, and higher repair and maintenance activity, particularly in the Company’s New Mexico and Utah operations.
Nine months ended September 30, 2025
Revenues
Total revenues were $105.1 million for the nine months ended September 30, 2025, an increase of 4.2%, compared with $100.9 million for the nine months ended September 30, 2024.
Non-regulated revenues were $59.7 million for the nine months ended September 30, 2025 compared with$56.1 million for the nine months ended September 30, 2024, an increase of
$3.6 million, or 6.4%, driven primarily by the revenue recognized on the fiber-build project at one of our subsidiaries.
Regulated revenues were $45.4 million for the nine months ended September 30, 2025, compared with $44.7 million for the nine months ended September 30, 2024, an increase of $0.7 million, or 2%. Firstnine months 2025 results also include regulated revenues of
$2.6 million from MTC, which was acquired on January 1, 2025. This was offset by reductions in voice service revenues consistent with broader industry trends. Additionally, interstate access revenues declined traceable to lower cost broadband services.
EBITDA for the nine months ended September 30, 2025, was $42.5 million, unchanged from the prior-year period, as revenue growth was offset by higher operating costs—particularly personnel-related and professional services expenses tied to operational expansion.
Non-regulated EBITDA for the first nine months of 2025 was $23.8 million, compared to
$21.0 million in the first nine months of 2024. Regulated EBITDA for the first nine months of 2025 was $18.7 million, compared to $21.5 million in the same period of 2024, reflecting a decrease of $2.8 million, or 13.0%. The decline was primarily driven by increased operating costs, including higher expenses for expanded staffing and professional services related to our operational expansion, as well as elevated repair and maintenance activity in the Company’s New Mexico and Utah operations.
The following table is a reconciliation of EBITDA (from operations):