CIBL, Inc. Reports Second Quarter 2026 Results

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

Second Quarter 2026 Highlights

• Revenues increased 34.8% to $713,000 in the second quarter of 2026 from $529,000 in the second quarter of 2025
• EBITDA from operations increased 62.7% to $192,000 from $118,000
• Net income was $48,000 in the second quarter of 2026 compared to $65,000 in the second quarter of 2025
• Earnings per share were $4.42 per share in the second quarter of 2026 compared to $5.60 per share in the second quarter of 2025
• Cash and investments were $18.9 million or $1,738 per share as of June 30, 2026
• CIBL repurchased 37 of its common shares at an average price of $1,707 per share in the second quarter of 2026

Six Months Ending June 30, 2026 Highlights

• Revenues increased 27.7% to $1,345,000 for the six months ending June 30, 2026 from $1,053,000 for the six months ending June 30, 2025
• EBITDA from operations increased 59.0% to $385,000 from $242,000
• Net income was $91,000 for the six months ending June 30, 2026 compared to $129,000 for the six months ending June 30, 2025
• Earnings per share were $8.32 per share for the six months ending June 30, 2026 compared to $11.01 for the six months ending June 30, 2025
• CIBL repurchased 394 of its common shares at an average price of $1,713 per share for the six months ending June 30, 2026

Results from Operations

Three Months Ended June 30, 2026

Revenues increased 34.8% to $713,000 in the second quarter of 2026 from $529,000 in the second quarter of 2025 due to increased service revenues primarily due to a one-time project.

EBITDA from operations increased 62.7% to $192,000 for the second quarter ended June 30, 2026 from $118,000 for the second quarter ended June 30, 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 $120,000 to $172,000 for the second quarter ending June 30, 2026 from $292,000 for the second quarter ending June 30, 2025. The decrease was primarily due to deceases in the Company’s equity in earnings of affiliated companies and lower yields on U.S. Treasuries.

Six Months Ended June 30, 2026

Revenues increased 27.7% to $1,345,000 for the six months ending June 30, 2026 from $1,053,000 for the six months ending June 30, 2025 due to increased service revenues primarily due to a one-time project.

EBITDA from operations increased 59.0% to $385,000 for the six months ending June 30, 2026 from $242,000 for the six months ending June 30, 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 $191,000 to $339,000 for the six months ending June 30, 2026 from $530,000 for the six months ending June 30, 2025. The decrease was primarily due to deceases in the Company’s equity in earnings of affiliated companies and lower yields on U.S. Treasuries.

Other Highlights

Capital expenditures were $42,000 and $45,000 for the six months ending June 30, 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 December 31, 2025, 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 June 30, 2026, the Company acquired 37 of its shares at an average price of $1,707 per share. As of June 30, 2026, CIBL has 10,850 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 16,016 of its shares for $22.9 million, or an average price of $1,433 per share. As of June 30, 2026, there were 580 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.

	Three Months Ended June 30,						Six Months Ended June 30,
		2026			2025				2026			2025
Revenue
Revenue	$	713		$	529			$	1,345		$	1,053
Costs and expenses:
Costs of revenue, excluding depreciation		456			341				831			682
General and administrative costs of operations		64			70				129			129
Corporate office expenses		245			273				488			509
Depreciation and amortization		57			52				114			100
Total operating expenses		822			736				1,562			1,420
Operating loss		(109	)		(207	)			(217	)		(367	)
Other income (expense):
Interest income		142			185				291			377
Equity in earnings of affiliated companies		23			107				74			133
Unrealized and realized gains (losses) on available for sale equity securities		7			-				(26	)		20
Total other income		172			292				339			530
Income before income taxes		63			85				122			163
Income tax expense		15			20				31			34
Net income	$	48		$	65			$	91		$	129
Basic and diluted weighted average shares outstanding		10,855			11,606				10,942			11,715
Actual shares outstanding		10,850			11,541				10,850			11,541
Earnings per share
Basic and Diluted	$	4.42		$	5.60			$	8.32		$	11.01

	June 30, 2026			December 31, 2025 (Audited)			June 30, 2025
Assets
Current assets
Cash and cash equivalents	$	2,396		$	2,123		$	1,594
Investments in United States Treasury Bills		14,460			14,312			16,550
Investment in available for sale securities		136			204			44
Investment in equity method limited partnership		1,865			1,810			1,706
Accounts receivable		433			294			253
Prepaid expenses		104			181			94
Materials and supplies		-			-			59
Income taxes receivable		141			105			37
Total current assets		19,535			19,029			20,337
Telecommunications, property, plant and equipment, net		839			929			907
Goodwill		337			337			337
Other intangibles, net		14			19			25
Other investments		1,768			2,758			1,708
Deferred income taxes		-			-			34
Other assets		46			46			59
Total assets	$	22,539		$	23,118		$	23,407
Liabilities
Current liabilities
Trade accounts payable and accrued expenses	$	165		$	186		$	142
Accrued liabilities		377			324			353
Total current liabilities		542			510			495
Deferred income taxes		66			87			-
Other liabilities		32			32			46
Total liabilities		640			629			541
Equity
Common stock, par value $.01, 30,000 shares authorized; 26,865 issued; and 10,850, 11,244 and 11,541 outstanding		--			--			--
Contributed capital		7,112			7,112			7,112
Retained earnings		37,771			37,680			37,545
Treasury stock, 16,016; 15,622; and 15,325 shares at cost		(22,984	)		(22,303	)		(21,791	)
Total equity		21,899			22,489			22,866
Total liabilities and equity	$	22,539		$	23,118		$	23,407

The following table is a reconciliation of Net income to EBITDA from operations:

	Three Months Ended June 30,						Six Months Ended June 30,
		2026			2025			2026			2025
Net income	$	48		$	65		$	91		$	129
Adjustments:
Interest income		(142	)		(185	)		(291	)		(377	)
Income tax expense		15			20			31			34
Depreciation and amortization		57			52			114			100
Total adjustments		(70	)		(113	)		(146	)		(243	)
EBITDA		(22	)		(48	)		(55	)		(114	)
Corporate office expenses		244			273			488			509
Equity in earnings of affiliated companies		(23	)		(107	)		(74	)		(133	)
Unrealized and realized losses on available for sale equity securities		(7	)		-			26			(20	)
EBITDA from operations	$	192		$	118		$	385		$	242