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

 

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Kenneth D. Masiello
Chief Financial Officer
April 29, 2026
(775) 664-3700

Source: CIBL, Inc.