Key Highlights

● LICT completed its Acquisition of Gunnison Telephone Company on 1 July 2026.

● Second-quarter 2026 Revenue rose 18.0% to $40.6 million, and EBITDA reached $18.2 million, a Margin of 44.9%.

● Net Income nearly doubled to $6.2 million, with a middle-mile fiber project adding roughly $3.5 million that may not recur at the same level.

● The company has been awarded about $23.2 million in federal BEAD grants, which require about $11.6 million in matching funds.

LICT Corporation (OTC:LICT), a rural telephone and broadband holding company, is drawing investor attention after a second quarter in which revenue rose 18% and EBITDA margins widened, followed by the completion of its acquisition of Gunnison Telephone Company on 1 July 2026. The company has also been awarded about $23.2 million in federal BEAD broadband grants. Because LICT trades on the OTC Pink market rather than a national exchange, it is not part of major U.S. stock indices, and its very high share price and small share count make it thinly traded.

Latest Company Context

In results released on 11 August, LICT reported second-quarter 2026 revenue of $40.6 million, up 18.0% from $34.4 million a year earlier. EBITDA, a measure of Earnings before interest, taxes, Depreciation and amortisation, increased to $18.2 million, a margin of 44.9%. Net income nearly doubled to $6.2 million, or $403 per share, compared with $3.2 million, or $198 per share. The company said work on a middle-mile fiber project, which connects networks over longer distances rather than to homes, added roughly $3.5 million to quarterly net income, a contribution that may not recur at the same level. For the first half, revenue reached $76.3 million and net income $8.0 million. LICT had 15,297 shares outstanding at 30 June after repurchasing 29 shares in the first six months.

Key Business and index Drivers

LICT’s subsidiaries provide voice, broadband and video services in rural communities across several U.S. states, and the company has steadily shifted its Investment toward fiber. At mid-year it served 53,118 broadband connections, including 46,278 fiber lines, up 5.2%, and 6,840 fixed wireless customers, and operated about 8,397 miles of fiber optic cable. Capital spending is heavily supported by government programmes: in the first half, gross Capital Expenditure of $32.3 million was offset by $14.8 million in grant reimbursements. The BEAD awards require about $11.6 million in matching funds, with construction expected over two to five years.

LICT reported net Leverage of about 1.5 times trailing EBITDA and borrowings of $68.6 million under a $100 million Credit facility. Cash stood at $13.8 million at 30 June. The company does not file periodic reports with the SEC, so investors rely on its own press releases and published financial statements, which are unaudited on an interim basis. With no index membership, the share price is driven mainly by company results and limited trading activity rather than index-fund flows.

What Investors Should Watch

The next scheduled update is likely LICT’s third-quarter results; the company has historically reported in early-to-mid November, although a date has not been announced. Points of interest include how much revenue and EBITDA the newly acquired Gunnison Telephone contributes, and whether margins hold up once the middle-mile project contribution fades. Progress on BEAD-funded construction, the pace of grant reimbursements, and changes in federal and state universal service support could all affect results. Other factors to monitor include fiber subscriber growth, competition from fixed wireless and satellite providers, interest costs on the credit facility, and the pace of share repurchases, which can matter more for a company with so few shares outstanding.

A Rural Broadband Operator Growing by Acquisition and Grants

LICT’s recent figures show a profitable rural broadband operator expanding through acquisition and government-supported fiber construction. Some of the second-quarter strength came from a project-based contribution, which separates recurring growth from one-off gains. Thin trading and the absence of SEC periodic reporting are features of the stock, and with a share price in the thousands of dollars, even small trades can produce noticeable price swings.