CIBL, Inc. Reports Third Quarter Operating Results

RENO, Nev.--(BUSINESS WIRE)-- CIBL, Inc. (“CIBL” or the “Company”; OTC Pink ®: CIBY), a holding company with interests in broadband operations in New Hampshire, reported its financial results for the quarter ended September 30, 2025.

• Revenues increased 6.3% to $557,000 in the third quarter of 2025 from $524,000 in the third quarter 2024
• Earnings per share were $7.46 per share in the third quarter of 2025 compared to $17.35 in the third quarter 2024
• Cash and investments were $19.9 million as of September 30, 2025
• Through September 30, 2025, CIBL repurchased 804 of its common shares at an average price of $1,693 per share. For the year ended December 31, 2024, CIBL repurchased 852 of its common shares at an average price of $1,789 per share.
• Gary Sugarman, a director of LICT Corporation and MachTen, Inc., joined the Board of Directors of CIBL on October 10, 2025

Results from Operations

Three Months Ended September 30, 2025

Revenues increased 6.3% to $557,000 in the third quarter 2025 from $524,000 in the third quarter 2024 due to increased service revenues from broadband, end-user terminals and voice over internet protocol.

EBITDA from operations remained unchanged at $150,000 in the third quarter 2025 compared to the third quarter of 2024 due to the increase in revenues discussed above offset by less capitalized labor for plant under construction and switch replacements.

Six Months Ended September 30, 2025

Revenues increased 7.4% to $1,611,000 for the nine months ended September 30, 2025 from $1,500,000 for the nine months ended September 30, 2024 due to new services, one-time equipment revenues and system upgrades.

EBITDA from operations¹ decreased 11.1% to $393,000 for the nine months ended September 30, 2025 from $442,000 for the nine months ended September 30, 2024 due to less capitalized labor for plant under construction and switch replacements.

Other Highlights

Capital expenditures were $76,000 and $411,000 for the nine months ended September 30, 2025, and 2024, respectively.

During the nine months ended September 30, 2025, the Company acquired 804 of its shares at an average price of $1,693 per share. As of September 30, 2025, CIBL has 11,462 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 15,404 of its shares for $21.9 million, or an average price of $1,422 per share.

As previously announced, Garry Sugarman joined our Board of Directors on October 10, 2025. Mr. Sugarman brings a wealth of industry experience and a long-term familiarity with telecom operations, in particular, in New Hampshire and our investment in Brick Skirt Holdings, Inc.

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. providers of broadband and communication services in Northern New Hampshire. 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.

Attachment A
CIBL Inc. and Subsidiaries Consolidated Statements of Income (Unaudited) (USD in thousands, except share data)
	Three Months Ended September 30,								Nine Months Ended September 30,
		2025				2024					2025				2024
Revenue
Revenue	$	557			$	524				$	1,611			$	1,500
Costs and expenses:
Costs of revenue, excluding depreciation		337				316					1,019				883
General and administrative costs of operations		70				58					199				175
Corporate office expenses		254				223					763				747
Depreciation and amortization		53				35					153				100
Total operating expenses		714				632					2,134				1,905
Operating loss		(157	)			(108	)				(523	)			(405	)
Other income (expense):
Interest income		188				271					564				792
Equity in earnings (loss) of affiliated companies		98				135					231				(147	)
Unrealized and realized gains (losses) on available for sale securities		(11	)			(2	)				9				(115	)
Total other income		275				404					804				530
Income before income taxes		118				296					281				125
Income tax expense		(32	)			(79	)				(66	)			(33	)
Net income	$	86			$	217				$	215			$	92
Basic and diluted weighted average shares outstanding		11,531				12,506					11,653				12,538
Actual shares outstanding		11,462				12,753					11,462				12,753
Earnings per share
Basic and Diluted	$	7.46			$	17.35				$	18.45			$	7.34

Attachment B
CIBL Inc. and Subsidiaries Consolidated Balance Sheets (Unaudited) (USD in thousands, except share data)
	September 30, 2025				December 31, 2024 (Audited)				September 30, 2024
Assets
Current assets
Cash and cash equivalents	$	1,714			$	2,341			$	1,298
Investments in United States Treasury Bills		15,304				16,598				18,691
Investment in available for sale securities		84				294				276
Investment in equity method limited partnership		1,755				1,645				1,721
Accounts receivable		232				284				228
Prepaid expenses		23				192				34
Materials and supplies		59				59				59
Income taxes receivable		24				-				21
Total current assets		19,195				21,413				22,328
Telecommunications, property, plant and equipment, net		889				958				986
Goodwill		337				337				337
Other intangibles, net		22				30				33
Other investments		2,757				1,636				1,609
Deferred income taxes		14				39				15
Other assets		59				59				71
Total assets	$	23,273			$	24,472			$	25,379
Liabilities
Current liabilities
Income taxes payable	$	--			$	14			$	--
Trade accounts payable and accrued expenses		111				138				152
Accrued liabilities		301				284				367
Total current liabilities		412				436				519
Other liabilities		46				46				59
Total liabilities		458				482				578
Equity
Common stock, par value $.01, 30,000 shares authorized; 26,865 issued; and 11,462, 12,266 and 12,753 outstanding		--				--				--
Contributed capital		7,112				7,112				7,112
Retained earnings		37,631				37,416				37,365
Treasury stock, 15,404; 14,600; and 14,113 shares at cost		(21,928	)			(20,538	)			(19,676	)
Total equity		22,815				23,990				24,801
Total liabilities and equity	$	23,273			$	24,472			$	25,379

Attachment C
CIBL Inc. and Subsidiaries EBITDA Reconciliation (Unaudited) (USD in thousands)
The following table is a reconciliation of Net income to EBITDA from operations:
	Three Months Ended September 30,								Nine Months Ended September 30,
		2025				2024				2025				2024
Net income	$	86			$	217			$	215			$	92
Adjustments:
Interest income		(188	)			(271	)			(564	)			(792	)
Income tax expense		32				79				66				33
Depreciation and amortization		53				35				153				100
Total adjustments		(103	)			(157	)			(345	)			(659	)
EBITDA		(17	)			60				(130	)			(567	)
Corporate office expenses		254				223				763				747
Equity in (earnings) loss of affiliated companies		(98	)			(135	)			(231	)			147
Unrealized and realized (gains) losses on available for sale securities		11				2				(9	)			115
EBITDA from operations	$	150			$	150			$	393			$	442

 

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Kenneth D. Masiello

Chief Financial Officer

November 3, 2025

(775) 664-3700

Source: CIBL, Inc.