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Side-by-side financial comparison of Spok Holdings, Inc (SPOK) and WEST BANCORPORATION INC (WTBA). Click either name above to swap in a different company.
Spok Holdings, Inc is the larger business by last-quarter revenue ($33.9M vs $26.9M, roughly 1.3× WEST BANCORPORATION INC). WEST BANCORPORATION INC runs the higher net margin — 39.2% vs 8.7%, a 30.6% gap on every dollar of revenue. On growth, WEST BANCORPORATION INC posted the faster year-over-year revenue change (16.6% vs -0.1%). WEST BANCORPORATION INC produced more free cash flow last quarter ($12.4M vs $10.1M). Over the past eight quarters, WEST BANCORPORATION INC's revenue compounded faster (17.3% CAGR vs -1.5%).
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
West Bancorporation Inc. is a regional financial holding company headquartered in the U.S. Midwest, primarily serving markets across Iowa and Minnesota. It provides a full suite of personal and commercial banking services, including deposit accounts, mortgage loans, business lending, and wealth management solutions for individual consumers, small-to-medium enterprises, and local organizational clients.
SPOK vs WTBA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $33.9M | $26.9M |
| Net Profit | $2.9M | $10.6M |
| Gross Margin | 76.7% | — |
| Operating Margin | 11.6% | 50.0% |
| Net Margin | 8.7% | 39.2% |
| Revenue YoY | -0.1% | 16.6% |
| Net Profit YoY | -19.6% | 34.8% |
| EPS (diluted) | $0.13 | $0.61 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $26.9M | ||
| Q4 25 | $33.9M | $24.2M | ||
| Q3 25 | $33.9M | $25.0M | ||
| Q2 25 | $35.7M | $23.8M | ||
| Q1 25 | $36.3M | $23.1M | ||
| Q4 24 | $33.9M | $20.9M | ||
| Q3 24 | $34.9M | $20.3M | ||
| Q2 24 | $34.0M | $19.6M |
| Q1 26 | — | $10.6M | ||
| Q4 25 | $2.9M | $7.4M | ||
| Q3 25 | $3.2M | $9.3M | ||
| Q2 25 | $4.6M | $8.0M | ||
| Q1 25 | $5.2M | $7.8M | ||
| Q4 24 | $3.6M | $7.1M | ||
| Q3 24 | $3.7M | $6.0M | ||
| Q2 24 | $3.4M | $5.2M |
| Q1 26 | — | — | ||
| Q4 25 | 76.7% | — | ||
| Q3 25 | 78.3% | — | ||
| Q2 25 | 79.5% | — | ||
| Q1 25 | 80.1% | — | ||
| Q4 24 | 78.5% | — | ||
| Q3 24 | 79.5% | — | ||
| Q2 24 | 78.9% | — |
| Q1 26 | — | 50.0% | ||
| Q4 25 | 11.6% | 39.6% | ||
| Q3 25 | 12.9% | 45.8% | ||
| Q2 25 | 15.1% | 43.4% | ||
| Q1 25 | 16.6% | 43.4% | ||
| Q4 24 | 13.7% | 30.9% | ||
| Q3 24 | 14.2% | 36.6% | ||
| Q2 24 | 13.2% | 32.6% |
| Q1 26 | — | 39.2% | ||
| Q4 25 | 8.7% | 30.7% | ||
| Q3 25 | 9.5% | 37.3% | ||
| Q2 25 | 12.8% | 33.5% | ||
| Q1 25 | 14.3% | 34.0% | ||
| Q4 24 | 10.8% | 34.0% | ||
| Q3 24 | 10.5% | 29.3% | ||
| Q2 24 | 10.1% | 26.5% |
| Q1 26 | — | $0.61 | ||
| Q4 25 | $0.13 | $0.44 | ||
| Q3 25 | $0.15 | $0.55 | ||
| Q2 25 | $0.22 | $0.47 | ||
| Q1 25 | $0.25 | $0.46 | ||
| Q4 24 | $0.17 | $0.41 | ||
| Q3 24 | $0.18 | $0.35 | ||
| Q2 24 | $0.17 | $0.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $25.3M | $362.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $146.4M | $270.7M |
| Total Assets | $206.1M | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $362.0M | ||
| Q4 25 | $25.3M | $471.1M | ||
| Q3 25 | $21.4M | $232.9M | ||
| Q2 25 | $20.2M | $345.2M | ||
| Q1 25 | $19.9M | — | ||
| Q4 24 | $29.1M | $243.5M | ||
| Q3 24 | $27.8M | — | ||
| Q2 24 | $23.9M | — |
| Q1 26 | — | $270.7M | ||
| Q4 25 | $146.4M | $266.0M | ||
| Q3 25 | $148.7M | $255.1M | ||
| Q2 25 | $150.9M | $240.9M | ||
| Q1 25 | $151.7M | $237.9M | ||
| Q4 24 | $154.7M | $227.9M | ||
| Q3 24 | $156.3M | $235.4M | ||
| Q2 24 | $158.2M | $223.9M |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $206.1M | $4.1B | ||
| Q3 25 | $209.7M | $4.0B | ||
| Q2 25 | $208.7M | $4.1B | ||
| Q1 25 | $204.5M | $4.0B | ||
| Q4 24 | $217.1M | $4.0B | ||
| Q3 24 | $216.8M | $4.0B | ||
| Q2 24 | $216.4M | $4.0B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $11.5M | $12.9M |
| Free Cash FlowOCF − Capex | $10.1M | $12.4M |
| FCF MarginFCF / Revenue | 29.9% | 46.0% |
| Capex IntensityCapex / Revenue | 4.1% | 1.8% |
| Cash ConversionOCF / Net Profit | 3.93× | 1.22× |
| TTM Free Cash FlowTrailing 4 quarters | $25.2M | $79.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.9M | ||
| Q4 25 | $11.5M | $46.5M | ||
| Q3 25 | $8.1M | $11.4M | ||
| Q2 25 | $7.0M | $13.5M | ||
| Q1 25 | $2.3M | $9.7M | ||
| Q4 24 | $8.4M | $39.8M | ||
| Q3 24 | $11.1M | $12.9M | ||
| Q2 24 | $7.4M | $10.0M |
| Q1 26 | — | $12.4M | ||
| Q4 25 | $10.1M | $43.2M | ||
| Q3 25 | $7.6M | $10.8M | ||
| Q2 25 | $6.0M | $12.8M | ||
| Q1 25 | $1.5M | $8.3M | ||
| Q4 24 | $7.5M | $13.7M | ||
| Q3 24 | $10.3M | $7.0M | ||
| Q2 24 | $6.8M | $2.7M |
| Q1 26 | — | 46.0% | ||
| Q4 25 | 29.9% | 178.3% | ||
| Q3 25 | 22.4% | 43.0% | ||
| Q2 25 | 16.8% | 53.6% | ||
| Q1 25 | 4.2% | 35.7% | ||
| Q4 24 | 22.3% | 65.6% | ||
| Q3 24 | 29.4% | 34.2% | ||
| Q2 24 | 20.0% | 14.0% |
| Q1 26 | — | 1.8% | ||
| Q4 25 | 4.1% | 13.7% | ||
| Q3 25 | 1.6% | 2.6% | ||
| Q2 25 | 2.9% | 3.2% | ||
| Q1 25 | 2.1% | 6.5% | ||
| Q4 24 | 2.5% | 125.3% | ||
| Q3 24 | 2.4% | 29.4% | ||
| Q2 24 | 1.9% | 37.1% |
| Q1 26 | — | 1.22× | ||
| Q4 25 | 3.93× | 6.26× | ||
| Q3 25 | 2.54× | 1.23× | ||
| Q2 25 | 1.55× | 1.70× | ||
| Q1 25 | 0.43× | 1.24× | ||
| Q4 24 | 2.31× | 5.61× | ||
| Q3 24 | 3.03× | 2.17× | ||
| Q2 24 | 2.17× | 1.93× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
WTBA
Segment breakdown not available.
