CIBL, Inc. Reports First Quarter 2026 Results

RENO, Nev.--(BUSINESS WIRE)--CIBL, Inc. (“CIBL” or the “Company”; OTC Pink ®: CIBY), announced first quarter 2026 financial and operating results.

First Quarter 2026 Highlights

• Revenues increased 20.4% to $632,000 in the first quarter of 2026 from $525,000 in the first quarter of 2025
• EBITDA from operations increased 54.4% to $193,000 from $125,000
• Net income was $43,000 in the first quarter of 2026 compared to $65,000 in the first quarter of 2025
• Earnings per share were $3.90 per share in the first quarter of 2026 compared to $5.50 in the first quarter 2025
• Cash and investments were $19.0 million or $1,745 per share as of March 31, 2026
• CIBL repurchased 357 of its common shares at an average price of $1,714 per share in the first quarter of 2026

Results from Operations

Three Months Ended March 31, 2026

Revenues increased 20.4% to $632,000 in the first quarter 2026 from $525,000 in the first quarter 2025 due to increased service revenues primarily due to a one-time project.

EBITDA from operations increased 54.4% to $193,000 for the first quarter ended March 31, 2026 from $125,000 for the first quarter ended March 31, 2025 due to the increase in revenues discussed above partially offset by less capitalized labor for plant under construction and switch replacements.

Other income decreased $72,000 to $166,000 for the first quarter ending March 31, 2026 from $238,000 for the first quarter ending March 31, 2025. The decrease increase was primarily due to realized and unrealized losses in the Company’s available for sale securities and lower yields on U.S. Treasuries.

Other Highlights

Capital expenditures were $41,000 and $24,000 for the three months ended March 31, 2026, and 2025, respectively.

On September 24, 2025, CIBL acquired 100,000 shares of The Gabelli Global Small and Mid Cap Value Trust Series E Cumulative Preferred Shares (“Preferred Shares”) at a cost of $10 per share. These Preferred Shares included a dividend of 5.2% per annum payable semiannually (March and September) with mandatory and optional redemptions by the issuer on September 26, 2027, and September 27, 2026, respectively. These Preferred Shares include an optional put by the Company on March 26, 2026, September 26, 2026, and March 26, 2027. As of March 31, 2026, these Preferred Shares are included in other investments with an aggregate fair value of $1,000,000.

The optional put on these Preferred Shares was exercised on March 26, 2026, and the Company received proceeds of $1,000,000 on April 2, 2026. The Company received dividends from these Preferred Shares of $26,000 for the period held.

On March 19, 2026, CIBL’s Board of Directors authorized the Company to repurchase up to an additional 500 of its common shares.

During the quarter ending March 31, 2026, the Company acquired 357 of its shares at an average price of $1,714 per share. As of March 31, 2026, CIBL has 10,887 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 15,979 of its shares for $22.9 million, or an average price of $1,432 per share. As of March 31, 2026, there were 617 shares remaining to be purchased under the Company’s share repurchase program.

CIBL’s Board of Directors continues to evaluate a broad range of strategic alternatives for the company to create shareholder value.

About CIBL, Inc.

CIBL is a holding company with interests in broadband operations. CIBL’s operations consist of Bretton Woods Telephone Company and World Surfer, Inc. and Brick Skirt, providers of broadband and communication services in Northern New Hampshire and Western New York State, respectively. CIBL is listed on OTC Pink® under the symbol CIBY and information can be obtained on our website: www.ciblinc.com.

Cautionary Note Concerning Forward-Looking Statements

To the extent this release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, it should be recognized that such information is based upon assumptions, projections and forecasts, including without limitation business conditions and financial markets, and the cautionary statements set forth in documents filed by CIBL on its website, www.ciblinc.com. Thus, such information is subject to uncertainties, risks and inaccuracies, which could be material, and there can be no assurance that such information will prove to be accurate.

CIBL Inc. and Subsidiaries Consolidated Statements of Income (Unaudited) (USD in thousands, except share data)	Attachment A
	Three Months Ended March 31,
		2026			2025
Revenue
Revenue	$	632		$	525
Costs and expenses:
Costs of revenue, excluding depreciation		375			341
General and administrative costs of operations		64			59
Corporate office expenses		244			236
Depreciation and amortization		57			48
Total operating expenses		740			684
Operating loss		(108	)		(159	)
Other income (expense):
Interest income		148			192
Equity in earnings (loss) of affiliated companies		51			26
Unrealized and realized gains (losses) on available for sale securities		(33	)		20
Total other income		166			238
Income before income taxes		58			79
Income tax expense		(15	)		(14	)
Net income	$	43		$	65
Basic and diluted weighted average shares outstanding		11,029			11,824
Actual shares outstanding		10,887			11,680
Earnings per share Net income from continuing operations per share
Basic and Diluted	$	3.90		$	5.50

CIBL Inc. and Subsidiaries Consolidated Balance Sheets (Unaudited) (USD in thousands, except share data)	Attachment B
	March 31, 2026			December 31, 2025 (Audited)			March 31, 2025
Assets
Current assets
Cash and cash equivalents	$	2,123		$	2,123		$	1,583
Investments in United States Treasury Bills		13,860			14,312			16,860
Investment in available for sale securities		129			204			44
Investment in equity method limited partnership		1,840			1,810			1,630
Accounts receivable		285			294			223
Prepaid expenses		187			181			138
Materials and supplies		-			-			59
Income taxes receivable		78			105			-
Total current assets		18,502			19,029			20,537
Telecommunications, property, plant and equipment, net		898			929			937
Goodwill		337			337			337
Other intangibles, net		17			19			27
Other investments		2,770			2,758			1,678
Deferred income taxes		-			-			45
Other assets		46			46			59
Total assets	$	22,570		$	23,118		$	23,620
Liabilities
Current liabilities
Income taxes payable	$	--		$	-		$	58
Trade accounts payable and accrued expenses		192			186			138
Accrued liabilities		352			324			344
Total current liabilities		544			510			540
Deferred income taxes		79			87			-
Other liabilities		32			32			46
Total liabilities		655			629			586
Equity
Common stock, par value $.01, 30,000 shares authorized; 26,865 issued; and 10,887, 11,244 and 11,680 outstanding		--			--			--
Contributed capital		7,112			7,112			7,112
Retained earnings		37,723			37,680			37,481
Treasury stock, 15,979; 15,622; and 15,186 shares at cost		(22,920	)		(22,303	)		(21,559	)
Total equity		21,915			22,489			23,034
Total liabilities and equity	$	22,570		$	23,118		$	23,620

CIBL Inc. and Subsidiaries EBITDA Reconciliation (Unaudited) (USD in thousands)	Attachment C
The following table is a reconciliation of Net income to EBITDA from operations:
	Three Months Ended March 31,
		2026			2025
Net income	$	43		$	65
Adjustments:
Interest income		(148	)		(192	)
Income tax expense		15			14
Depreciation and amortization		57			48
Total adjustments		(76	)		(130	)
EBITDA		(33	)		(65	)
Corporate office expenses		244			236
Equity in (earnings) loss of affiliated companies		(51	)		(26	)
Unrealized and realized (gains) losses on available for sale securities		33			(20	)
EBITDA from operations	$	193		$	125