Welcome to our dedicated page for MachTen news (Ticker: MACT), a resource for investors and traders seeking the latest updates and insights on MachTen stock.
MachTen Inc (MACT) provides integrated technology and communication solutions through strategic focus on operational efficiency and capital investments. This news hub offers investors and analysts centralized access to official corporate developments and financial updates.
Track all material announcements including earnings reports, technology deployments, and strategic partnerships. Our curated collection ensures timely updates on leadership changes, product innovations, and market positioning within the communications sector.
Regularly updated with verified press releases, this resource enables informed analysis of MachTen's EBITDA performance and capital allocation strategies. Bookmark this page to monitor how the company balances technology integration with financial discipline in evolving markets.
UP Fiber has announced a definitive agreement to acquire AT&T's wireline assets in Michigan's Upper Peninsula, encompassing over 9,000 miles of copper, 1,500 miles of business fiber, and network infrastructure across 40 wire centers serving 9,000+ customers. Michigan Broadband Services, a subsidiary of MachTen (OTC: MACT), will provide comprehensive services to UP Fiber, expanding their network to over 70,000 passings.
Michigan Broadband, currently serving 5,000+ customers, is amid a $100 million fiber-optic upgrade initiative. The partnership aims to establish the largest broadband provider in the Upper Peninsula, with new products and pricing tiers forthcoming. The transaction remains subject to regulatory approvals and customary closing conditions.
LICT reported strong financial results for Q4 and full-year 2024. Fourth-quarter revenues increased 12.8% to $33.4 million, while full-year revenues rose 15.2% to $134.2 million. EBITDA grew 11.2% to $12.9 million in Q4 and 21.5% to $55.4 million for the full year.
Q4 earnings per share from continuing operations, excluding one-time items, were $193, up 14.2% YoY. Full-year 2024 earnings reached $1,007 per share, a 25.6% increase. The company's Enhanced ACAM program participation boosted annual federal USF revenue by $14 million to $37.2 million through 2038.
During Q4 2024, LICT repurchased 367 shares for $5.1 million at an average price of $14,011 per share. For the full year, 798 shares were repurchased for $11.7 million. The company secured a new $100 million revolving credit facility and completed strategic acquisitions including Manti Telephone Communications.
MachTen (MACT) reported strong Q3 2024 financial results with revenue of $4.3 million, up from $4.1 million in Q3 2023. Operating income increased to $1.86 million from $1.55 million, while net income rose to $1.67 million from $1.08 million. Earnings per share improved to $0.52 from $0.34.
The company has constructed approximately 100 miles of fiber-optic network over the last twelve months, reaching nearly 2,500 potential customers. Total fiber-based passings are now almost 8,000, with another 2,500 expected by year-end 2025. EBITDA for Q3 2024 was $2.5 million compared to $2.1 million in Q3 2023.
MachTen executed a $20 million term loan from NCSC, with $16 million drawn to repay the LICT Note and for working capital. The company continues to invest in infrastructure expansion through various grants, including ReConnect America 3 projects worth approximately $85 million.
LICT reported strong Q3 2024 results with total revenues increasing 16.9% to $33.7 million. EBITDA grew 26% to $13.7 million, driven by Enhanced ACAM (E-ACAM) adoption and non-regulated business growth. Regulated revenues rose to $14.8 million, while non-regulated revenues increased 8% to $18.9 million. The company continues supporting Affordability Connect Program customers through January 2025. Earnings per share from continuing operations reached $228, up from $195 in Q3 2023. The company repurchased 134 shares for $1.8 million during Q3 2024.
LICT reported strong Q2 2024 results, with revenues increasing 15.8% to $33.7 million and EBITDA up 21% to $14.2 million. The growth was driven by regulated revenues, which rose $3.2 million to $14.9 million, largely due to the acceptance of Enhanced ACAM (E-ACAM). Non-regulated revenues increased 8% to $18.8 million.
The company announced a $100 per share charitable contribution program for registered shareholders and increased its share buyback authorization. LICT also highlighted its participation in various FCC programs, including E-ACAM, which will provide $37.2 million annually through 2038, and ReConnect grants totaling $157.5 million.
LICT continues to expand its broadband infrastructure, owning 6,713 miles of fiber optic cable and 95 towers. The company reported a 2.2% increase in broadband lines and a 1% growth in total revenue generating units.
MachTen Inc. (OTC: MACT) reported audited financial results for 2023 and an interim update for H1 2024. Key highlights include:
- 2023 revenue: $15.9 million, operating income: $6.1 million, net income: $4.3 million
- H1 2024 revenue: $8.4 million (up from $7.9 million in H1 2023), operating income: $2.9 million, net income: $1.7 million
- Significant investments in fiber-optic networks, with 100 miles built in 12 months ending June 2024
- Approved for a $20 million term loan from NCSC, expected to close in August 2024
- Participating in Enhanced-ACAM program and various broadband expansion grants
The company is transitioning from a small rural ILEC to a fiber-based regional communications provider, with ongoing capital investments in network expansion.
LICT reported a robust Q1 2024 with a 15.5% rise in revenue, hitting $33.5 million. EBITDA increased 30% to $14.7 million, compared to $11.5 million in Q1 2023. Earnings per share rose to $295 from $228. Capex surged to $16.4 million, driven by the E-ACAM program and grants. The E-ACAM program adds $14 million annually through 2038, totaling $37.2 million per year. The company was awarded $157.5 million in USDA ReConnect III and IV grants. LICT continues to expand its broadband services and 5G wireless installations. However, higher operating expenses and a $0.8 million decrease in other income due to interest expenses and unrealized losses on MachTen were noted.
MachTen, Inc. announced the launch of fiber-based broadband services in St. Ignace, Michigan. The project includes high-speed internet, advanced voice tech, and a TiVo-based video platform. The company plans to expand its fiber network to cover over 9,000 locations by the end of 2024. First-quarter revenues reached $4.4 million, showing growth from the previous year. MachTen is investing in its network and strategic markets, aiming to provide a complete communication bundle in northern Michigan.
