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. (OTC: MACT) generates news and disclosures that focus on its role as a telecom services holding company and on the performance of its operating subsidiaries. Regular press releases cover financial results for quarterly, interim, and full-year periods, highlighting operating revenue, operating income, net income, and EBITDA, along with commentary from management on business conditions and investment priorities.
A major theme in MachTen’s news flow is the expansion of fiber-based broadband networks by Michigan Broadband and related entities. Updates describe new fiber route-miles, added passings, and subscriber trends as the company upgrades legacy copper-based voice and DSL networks to fiber. These releases often detail specific projects supported by programs such as Enhanced-ACAM, ReConnect America (RC3) grants, and Connecting Michigan Communities 3.0 grants, and explain how these programs influence regulated revenue and capital spending.
MachTen’s announcements also address network modernization and operational initiatives, including upgrades to switching and routing environments and deployment of an in-house monitoring and management platform across the Michigan Broadband system. The company discusses new or planned service offerings, such as a TiVo-based video solution, a mobile MVNO offering, and online ordering for fiber-based services, as part of efforts to increase market penetration in fiber-served areas.
Another recurring topic is strategic relationships and service agreements. News items describe an Operating Services Agreement between Michigan Broadband and UP Fiber, under which Michigan Broadband will provide customer service, billing, sales, marketing, and administrative support to UP Fiber’s footprint in connection with UP Fiber’s agreement to acquire AT&T’s wireline assets in Michigan’s Upper Peninsula.
Investors and observers can use this news stream to follow MachTen’s financial performance, fiber build progress, participation in federal and state broadband programs, and developments in its partnerships and service offerings.
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.
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