Key Highlights

● Second-quarter 2026 Revenue was $40.6 million, up 18% year over year, with an EBITDA Margin near 44.9%.

● Fibre broadband lines reached 46,278, up 5.2% since December 2025, as fixed wireless subscribers declined.

● The network spans 8,397 miles of fibre optic cable, up 213 miles from year-end 2025.

● Net Leverage stood at 1.5 times trailing twelve-month EBITDA, with $13.8 million of cash and $68.6 million of debt.

LICT Corporation (OTC:LICT) is a rural telecommunications and broadband group that rarely features in mainstream index discussions, yet its latest results have drawn attention from investors who follow smaller infrastructure businesses. In its second-quarter 2026 report, issued on 11 August, the company posted revenue growth of 18%, an EBITDA margin near 45% and continued fibre expansion. Its per-share figures are unusually large because of the company's small share count.

Latest Company Context

According to the second-quarter 2026 release, revenue was $40.6 million, up 18% year over year. EBITDA was $18.2 million, a 44.9% margin, and Net Income was $6.2 million, or $403 per share. For the first half, revenue was $76.3 million versus $69.0 million a year earlier, EBITDA was $32.2 million at a 42.2% margin, and net income was $8.0 million, or $522 per share.

Operationally, the company reported 8,397 miles of fibre optic cable, up 213 miles from year-end 2025, along with 8,942 miles of copper and 111 towers. Total broadband connections reached 53,118, up 4.2% since December 2025. Fibre broadband lines were 46,278, up 5.2%, while fixed wireless subscribers fell 2.3% to 6,840 as customers moved to fibre.

Key Business and Index Drivers

The primary driver is the shift from copper and fixed wireless to fibre, which typically supports higher speeds and stronger retention. Capital spending is substantial: second-quarter gross capex was $18.2 million, offset by $10.3 million of government grants received, leaving net capex of $7.8 million. Grant timing can make net spending uneven from quarter to quarter.

The Balance Sheet looks moderate by the numbers reported. Cash was $13.8 million and outstanding Debt was $68.6 million, drawn from a $100 million facility, with net leverage of 1.5 times trailing twelve-month EBITDA. Total Assets were $383.3 million.

On indices, LICT trades on OTC Markets and no membership in a major index was verified, so none is claimed.

What Investors Should Watch

Investors who follow the company often monitor several items. First, the conversion pace of fixed wireless and copper customers to fibre, and whether broadband connection growth of around 4% in six months continues. Second, margin stability near 42% to 45% as expansion costs rise. Third, the timing and size of government grant reimbursements, since they influence net capital needs and cash flow. Fourth, the use of the Credit facility: with $31.4 million of undrawn capacity implied by the reported figures, management has flexibility, though borrowing would raise leverage.

Fifth, Liquidity in the shares. Because trading Volume can be light, quoted prices may not reflect where a sizeable order would execute, and any price should be checked against a dated quote. Scenarios range from continued steady fibre growth to slower subscriber additions or higher costs; none is forecast here, and the company has not been shown to give formal numeric guidance in the sources reviewed.

Steady Fibre Expansion at a Rural Telecom Name

LICT's second-quarter 2026 report, dated 11 August, confirms 18% revenue growth, strong EBITDA margins and a rising fibre base, with moderate leverage. Open questions include grant timing, subscriber trends and the practical liquidity of an OTC-traded stock.