CIBL, Inc. Reports Fourth Quarter and Full Year 2025 Results

RENO, Nev.--(BUSINESS WIRE)-- CIBL, Inc. (“CIBL” or the “Company”; OTC Pink ®: CIBY), announced fourth quarter and full year 2025 financial and operating results.

Fourth Quarter 2025 Highlights

• Revenues increased 28.4% to $664,000 in the fourth quarter of 2025 from $517,000 in the fourth quarter of 2024
• EBITDA from operations increased 15.4% to $172,000
• Other income increased 36.8% to $234,000 in the fourth quarter of 2025 from $171,000 in the fourth quarter of 2024
• Earnings per share were $4.42 per share in the fourth quarter of 2025 compared to $4.03 in the fourth quarter 2024
• Net income was $50,000 in the fourth quarter of 2025 compared to $51,000 in the fourth quarter of 2024
• CIBL repurchased 371 of it’s common shares at an average price of $1,702 per share in the fourth quarter of 2025

2025 Highlights

• Revenues increased 15.2% to $2,275,000 for the year ended December 31, 2025 from $1,975,000 for the year 2024
• EBITDA from operations decreased 4.2% to $565,000
• Other income increased 48.1% to $1,038,000 for the year ended December 31, 2025 from $701,000 for the year ended December 31, 2024
• Earnings per share were $22.83 per share for the year ended December 31, 2025 compared to $11.38 for the year ended December 31, 2024
• Net income was $264,000 for the year ended December 31, 2025 compared to $143,000 for the year ended December 31, 2024
• Cash and investments were $19.5 million or $1,734 per share as of December 31, 2025
• CIBL repurchased 1,022 of it’s common shares at an average price of $1,695 per share for the year ended December 31, 2025

Results from Operations

Three Months Ended December 31, 2025

Revenues increased 28.4% to $664,000 in the fourth quarter 2025 from $517,000 in the fourth quarter 2024 due to increased service revenues from broadband, end-user terminals and voice over internet protocol and one-time equipment revenues.

EBITDA from operations increased 15.4% to $172,000 for the fourth quarter ended December 31, 2025 from $149,000 for the fourth quarter ended December 31, 2024 due to the increase in revenues discussed above partially offset by less capitalized labor for plant under construction and switch replacements.

Other income increased $63,000 to $234,000 for the fourth quarter ending December 31, 2025 from $171,000 for the fourth quarter ending December 31, 2024. The increase was primarily due to higher equity in earnings from the Company’s equity investments in affiliated companies offset by lower investment income due to lower yields on U.S. Treasuries.

Year Ended December 31, 2025

Revenues increased 15.2% to $2,275,000 for the year ended December 31, 2025 from $1,975,000 for the year ended December 31, 2024 due to one-time equipment revenues and system upgrades.

EBITDA from operations decreased 4.2% to $565,000 for the year ended December 31, 2025 from $590,000 for the year ended December 31, 2024 due to less capitalized labor for plant under construction and switch replacements.

Other income increased $337,000 to $1,038,000 for the year ending December 31, 2025 from $701,000 for the for the year ending December 31, 2024. The increase was primarily due to higher equity in earnings from the Company’s equity investments in affiliated companies and higher unrealized gains on available for sale securities offset by lower investment income due to lower yields on U.S. Treasuries.

Operating Highlights

During 2025, our New Hampshire Operations completed two significant projects. Firstly, we can now provide 2 Gig fiber broadband service throughout the Bretton Woods service territory. Second, we installed fiber optic cable to summit of Mount Washington, the highest peak in the Eastern United States. Both these projects significantly improve our service offerings and enhance our future revenue streams.

Other Highlights

Capital expenditures were $167,000 and $423,000 for the year ended December 31, 2025, and 2024, 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 semi annually (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 $1,008,000.

During the year ended December 31, 2025, the Company acquired 1,022 of its shares at an average price of $1,695 per share. As of December 31, 2025, CIBL has 11,244 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 15,622 of its shares for $22.3 million, or an average price of $1,427 per share.

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 December 31,								Year Ended December 31,
			2025				2024				2025				2024
Revenue
Revenue		$	664			$	517			$	2,275			$	1,975
Costs and expenses:
Costs of revenue, excluding depreciation			414				306				1,433				1,147
General and administrative costs of operations			78				62				277				238
Corporate office expenses			268				199				1,031				945
Depreciation and amortization			54				43				207				143
Total operating expenses			814				610				2,948				2,473
Operating loss			(150	)			(93	)			(673	)			(498	)
Other income (expense):
Interest income			171				221				735				1,013
Equity in earnings (loss) of affiliated companies			47				(68	)			278				(215	)
Unrealized and realized gains (losses) on available for sale securities			16				18				25				(97	)
Total other income			234				171				1,038				701
Income before income taxes			84				78				365				203
Income tax expense			(34	)			(27	)			(101	)			(60	)
Net income		$	50			$	51			$	264			$	143
Basic and diluted weighted average shares			11,311				12,643				11,566				12,565
Actual shares outstanding			11,244				12,266				11,244				12,266
Earnings per share
Basic and Diluted		$	4.42			$	4.03			$	22.83			$	11.38

CIBL Inc. and Subsidiaries Consolidated Balance Sheets (Unaudited) (USD in thousands, except share data)		Attachment B
		December 31, 2025 (Unaudited)				December 31, 2024 (Audited)
Assets
Current assets
Cash and cash equivalents		$	2,123			$	2,341
Investments in United States Treasury Bills			14,312				16,598
Investment in available for sale securities			204				294
Investment in equity method limited partnership			1,810				1,645
Accounts receivable			294				284
Prepaid expenses			181				192
Materials and supplies			-				59
Income taxes receivable			105				-
Total current assets			19,029				21,413
Telecommunications, property, plant and equipment, net			929				958
Goodwill			337				337
Other intangibles, net			19				30
Other investments			2,758				1,636
Deferred income taxes			-				39
Other assets			46				59
Total assets		$	23,118			$	24,472
Liabilities
Current liabilities
Income taxes payable		$	-			$	14
Trade accounts payable and accrued expenses			186				138
Accrued liabilities			324				284
Total current liabilities			510				436
Deferred income taxes			87				--
Other liabilities			32				46
Total liabilities			629				482
Equity
Common stock, par value $.01, 30,000 shares authorized; 26,865 issued; 11,244 and 12,266 outstanding			--				--
Contributed capital			7,112				7,112
Retained earnings			37,680				37,416
Treasury stock, 15,622 and 14,600 shares at cost			(22,303	)			(20,538	)
Total equity			22,489				23,990
Total liabilities and equity		$	23,118			$	24,472

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 December 31,								Year Ended December 31,
			2025				2024				2025				2024
Net income		$	50			$	51			$	264			$	143
Adjustments:
Interest income			(171	)			(221	)			(735	)			(1,013	)
Income tax expense			34				27				101				60
Depreciation and amortization			54				43				207				143
Total adjustments			(83	)			(151	)			(427	)			(810	)
EBITDA			(33	)			(100	)			(163	)			(667	)
Corporate office expenses			268				199				1,031				945
Equity in (earnings) loss of affiliated companies			(47	)			68				(278	)			215
Unrealized and realized (gains) losses on available for sale securities			(16	)			(18	)			(25	)			97
EBITDA from operations		$	172			$	149 150			$	565			$	590

 

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Kenneth D. Masiello

Chief Financial Officer

(775) 664-3700

Source: CIBL, Inc.