v3.25.2
Leases
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Leases Leases
The Company leases various broadband network sites, fiber optic cable routes, warehouses, retail stores and office facilities for use in our business.
The components of lease costs were as follows:

ClassificationThree Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2025202420252024
Finance lease cost
Amortization of leased assets
Depreciation and amortization
$180 $171 $368 $290 
Interest on lease liabilitiesInterest expense22 24 46 43 
Operating lease cost
Operating expense1
1,241 1,104 2,405 1,840 
Lease cost$1,443 $1,299 $2,819 $2,173 
_________________________________________
(1)Operating lease expense is presented in cost of services or selling, general and administrative expense based on the use of the relevant facility.

The following table summarizes the expected maturity of lease liabilities as of June 30, 2025:
(in thousands)Operating LeasesFinance LeasesTotal
2025 (remainder of the year)$1,669 $154 $1,823 
20263,304 400 3,704 
20272,277 203 2,480 
20281,893 158 2,051 
20291,525 160 1,685 
2030 and thereafter7,378 1,041 8,419 
Total lease payments18,046 2,116 20,162 
Less: Interest(4,735)(438)(5,173)
Present value of lease liabilities$13,311 $1,678 $14,989 

Other information related to operating and finance leases was as follows:

June 30,
2025		December 31,
2024
Operating leases
Weighted average remaining lease term (years)8.58.5
Weighted average discount rate6.2 %6.1 %
Finance leases
Weighted average remaining lease term (years)9.09.0
Weighted average discount rate5.3 %5.3 %

Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2025202420252024
Cash paid for operating lease liabilities$1,140 $1,053 $2,404 $1,818 
Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modification of existing leases)372 247 423 1,984 
The Company also has other operating lease arrangements which generate revenue from leasing the excess fiber capacity of its fiber network assets. Contract terms for these arrangements can range from 1 to 40 years and are billed monthly. Lease revenue from these arrangements was $1.7 million and $3.4 million for the three and six months ended June 30, 2025, respectively, and $1.7 million and $2.4 million for the three and six months ended June 30, 2024, respectively. These amounts are presented in service revenue and other in the Company’s unaudited condensed consolidated statements of operations. Contractual minimum rental receipts expected under the lease agreements in place as of June 30, 2025 is as follows:
(in thousands)Operating Leases
2025 (remainder of the year)$2,143 
20263,843 
20273,410 
20283,195 
20292,902 
2030 and thereafter17,108 
Total
$32,601 
Leases Leases
The Company leases various broadband network sites, fiber optic cable routes, warehouses, retail stores and office facilities for use in our business.
The components of lease costs were as follows:

ClassificationThree Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2025202420252024
Finance lease cost
Amortization of leased assets
Depreciation and amortization
$180 $171 $368 $290 
Interest on lease liabilitiesInterest expense22 24 46 43 
Operating lease cost
Operating expense1
1,241 1,104 2,405 1,840 
Lease cost$1,443 $1,299 $2,819 $2,173 
_________________________________________
(1)Operating lease expense is presented in cost of services or selling, general and administrative expense based on the use of the relevant facility.

The following table summarizes the expected maturity of lease liabilities as of June 30, 2025:
(in thousands)Operating LeasesFinance LeasesTotal
2025 (remainder of the year)$1,669 $154 $1,823 
20263,304 400 3,704 
20272,277 203 2,480 
20281,893 158 2,051 
20291,525 160 1,685 
2030 and thereafter7,378 1,041 8,419 
Total lease payments18,046 2,116 20,162 
Less: Interest(4,735)(438)(5,173)
Present value of lease liabilities$13,311 $1,678 $14,989 

Other information related to operating and finance leases was as follows:

June 30,
2025		December 31,
2024
Operating leases
Weighted average remaining lease term (years)8.58.5
Weighted average discount rate6.2 %6.1 %
Finance leases
Weighted average remaining lease term (years)9.09.0
Weighted average discount rate5.3 %5.3 %

Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2025202420252024
Cash paid for operating lease liabilities$1,140 $1,053 $2,404 $1,818 
Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modification of existing leases)372 247 423 1,984 
The Company also has other operating lease arrangements which generate revenue from leasing the excess fiber capacity of its fiber network assets. Contract terms for these arrangements can range from 1 to 40 years and are billed monthly. Lease revenue from these arrangements was $1.7 million and $3.4 million for the three and six months ended June 30, 2025, respectively, and $1.7 million and $2.4 million for the three and six months ended June 30, 2024, respectively. These amounts are presented in service revenue and other in the Company’s unaudited condensed consolidated statements of operations. Contractual minimum rental receipts expected under the lease agreements in place as of June 30, 2025 is as follows:
(in thousands)Operating Leases
2025 (remainder of the year)$2,143 
20263,843 
20273,410 
20283,195 
20292,902 
2030 and thereafter17,108 
Total
$32,601 
Leases Leases
The Company leases various broadband network sites, fiber optic cable routes, warehouses, retail stores and office facilities for use in our business.
The components of lease costs were as follows:

ClassificationThree Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2025202420252024
Finance lease cost
Amortization of leased assets
Depreciation and amortization
$180 $171 $368 $290 
Interest on lease liabilitiesInterest expense22 24 46 43 
Operating lease cost
Operating expense1
1,241 1,104 2,405 1,840 
Lease cost$1,443 $1,299 $2,819 $2,173 
_________________________________________
(1)Operating lease expense is presented in cost of services or selling, general and administrative expense based on the use of the relevant facility.

The following table summarizes the expected maturity of lease liabilities as of June 30, 2025:
(in thousands)Operating LeasesFinance LeasesTotal
2025 (remainder of the year)$1,669 $154 $1,823 
20263,304 400 3,704 
20272,277 203 2,480 
20281,893 158 2,051 
20291,525 160 1,685 
2030 and thereafter7,378 1,041 8,419 
Total lease payments18,046 2,116 20,162 
Less: Interest(4,735)(438)(5,173)
Present value of lease liabilities$13,311 $1,678 $14,989 

Other information related to operating and finance leases was as follows:

June 30,
2025		December 31,
2024
Operating leases
Weighted average remaining lease term (years)8.58.5
Weighted average discount rate6.2 %6.1 %
Finance leases
Weighted average remaining lease term (years)9.09.0
Weighted average discount rate5.3 %5.3 %

Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2025202420252024
Cash paid for operating lease liabilities$1,140 $1,053 $2,404 $1,818 
Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modification of existing leases)372 247 423 1,984 
The Company also has other operating lease arrangements which generate revenue from leasing the excess fiber capacity of its fiber network assets. Contract terms for these arrangements can range from 1 to 40 years and are billed monthly. Lease revenue from these arrangements was $1.7 million and $3.4 million for the three and six months ended June 30, 2025, respectively, and $1.7 million and $2.4 million for the three and six months ended June 30, 2024, respectively. These amounts are presented in service revenue and other in the Company’s unaudited condensed consolidated statements of operations. Contractual minimum rental receipts expected under the lease agreements in place as of June 30, 2025 is as follows:
(in thousands)Operating Leases
2025 (remainder of the year)$2,143 
20263,843 
20273,410 
20283,195 
20292,902 
2030 and thereafter17,108 
Total
$32,601