CIBL, Inc. Reports Third Quarter 2026 Results

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11/13/2026 - 04:08 PM EST

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

Third Quarter 2026 Highlights

Revenues decreased 3.8% to $536,000 in the third quarter of 2026 from $557,000 in the third quarter of 2025
EBITDA from operations decreased 6.7% to $140,000 from $150,000
Net loss was $25,000 in the third quarter of 2026 compared to net income of $86,000 in the third quarter of 2025
Loss per share was $2.30 in the third quarter of 2026 compared to income per share of $7.46 in the third quarter of 2025
Cash and investments were $19.0 million or $1,756 per share as of September 30, 2026
CIBL repurchased 13 of its common shares at an average price of $1,715 per share in the third quarter of 2026

Nine Months Ending September 30, 2026 Highlights

Revenues increased 16.7% to $1,880,000 for the nine months ending September 30, 2026 from $1,611,000 for the nine months ending September 30, 2025
EBITDA from operations increased 33.3% to $524,000 from $393,000
Net income was $65,000 for the nine months ending September 30, 2026 compared to $215,000 for the nine months ending September 30, 2025
Earnings per share were $5.96 per share for the nine months ending September 30, 2026 compared to $18.45 for the nine months ending September 30, 2025
CIBL repurchased 407 of its common shares at an average price of $1,713 per share for the nine months ending September 30, 2026

Results from Operations

Three Months Ended September 30, 2026

Revenues decreased 3.8% to $536,000 in the third quarter of 2026 from $557,000 in the third quarter of 2025 due to lower service revenues primarily due to installation activity in 2025 partially offset by growth in CLEC services.

EBITDA from operations decreased 6.7% to $140,000 for the third quarter ended September 30, 2026 from $150,000 for the third quarter ended September 30, 2025 due to the decrease in revenues discussed above partially offset by a one-time non-regulated expense credit.

Other income decreased $75,000 to $200,000 for the third quarter ending September 30, 2026 from $275,000 for the third quarter ending September 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.

Nine Months Ended September 30, 2026

Revenues increased 16.7% to $1,880,000 for the nine months ending September 30, 2026 from $1,611,000 for the nine months ending September 30, 2025 due to increased service revenues primarily due to installation activity in 2026.

EBITDA from operations increased 33.3% to $524,000 for the nine months ending September 30, 2026 from $393,000 for the nine months ending September 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 $265,000 to $539,000 for the nine months ending September 30, 2026 from $804,000 for the nine months ending September 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 $68,000 and $76,000 for the nine months ending September 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.

Through September 30, 2026, the Company acquired 407 of its shares at an average price of $1,713 per share. As of September 30, 2026, CIBL has 10,837 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 16,029 of its shares for $22.9 million, or an average price of $1,433 per share. As of September 30, 2026, there were 567 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 Operations (Unaudited) (USD in thousands, except share data)							Attachment A
	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025				2026			2025
Revenue
Revenue	$	536		$	557			$	1,880		$	1,611

Costs and expenses:
Costs of revenue, excluding depreciation		337			337				1,168			1,019
General and administrative costs of operations		59			70				188			199
Corporate office expenses		296			254				784			763
Depreciation and amortization		76			53				189			153
Total operating expenses		768			714				2,329			2,134
Operating loss		(232	)		(157	)			(449	)		(523	)
Other income (expense):
Interest income		144			188				434			564
Equity in earnings of affiliated companies		41			98				115			231
Unrealized and realized gains (losses) on available for sale equity securities		15			(11	)			(10	)		9
Total other income		200			275				539			804
Income (loss) before income taxes		(32	)		118				90			281
Income tax expense (benefit)		(7	)		32				25			66
Net income (loss)	$	(26	)	$	86			$	65		$	215

Basic and diluted weighted average shares outstanding		10,846			11,531				10,909			11,653
Actual shares outstanding		10,837			11,462				10,837			11,462

Earnings (loss) per share Net income from continuing operations per share
Basic and Diluted	$	(2.30	)	$	7.46			$	5.96		$	18.45

CIBL Inc. and Subsidiaries Consolidated Balance Sheets (Unaudited) (USD in thousands, except share data)							Attachment B

	September 30, 2026			December 31, 2025 (Audited)			September 30, 2025
Assets
Current assets
Cash and cash equivalents	$	2,605		$	2,123		$	1,714
Investments in United States Treasury Bills		14,453			14,312			15,304
Investment in available for sale securities		88			204			84
Investment in affiliated equity method limited partnership		1,886			1,810			1,755
Accounts receivable		242			294			232
Prepaid expenses		92			181			23
Materials and supplies		-			-			59
Income taxes receivable		120			105			24
Total current assets		19,486			19,029			19,195

Telecommunications, property, plant and equipment, net		809			929			889
Goodwill		337			337			337
Other intangibles, net		11			19			22
Other investments		1,788			2,758			2,757
Deferred income taxes		-			-			14
Other assets		46			46			59
Total assets	$	22,477		$	23,118		$	23,273

Liabilities
Current liabilities
Trade accounts payable and accrued expenses	$	104		$	186		$	111
Accrued liabilities		375			324			301
Total current liabilities		479			510			412
Deferred income taxes		115			87			-
Other liabilities		32			32			46
Total liabilities		626			629			458

Equity
Common stock, par value $.01, 30,000 shares authorized; 26,865 issued; and 10,837, 11,244 and 11,462 outstanding		--			--			--
Contributed capital		7,112			7,112			7,112
Retained earnings		37,745			37,680			37,631
Treasury stock, 16,029; 15,622; and 15,404 shares at cost		(23,006	)		(22,303	)		(21,928	)
Total equity		21,851			22,489			22,815
Total liabilities and equity	$	22,477		$	23,118		$	23,273

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 September 30,						Nine Months Ended September 30,
	2026			2025				2026			2025

Net income (loss)	$	(25	)	$	86			$	65		$	215

Adjustments:
Interest income		(144	)		(188	)			(434	)		(564	)
Income tax expense (benefit)		(7	)		32				25			66
Depreciation and amortization		76			53				189			153
Total adjustments		(75	)		(103	)			(220	)		(345	)
EBITDA		(100	)		(17	)			(155	)		(130	)
Corporate office expenses		296			254				784			763
Equity in earnings of affiliated companies		(41	)		(98	)			(115	)		(231	)
Unrealized and realized losses on available for sale equity securities		(15	)		11				10			(9	)
EBITDA from operations	$	140		$	150			$	524		$	393