v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates as one segment. The accounting policies of the Company’s segment are the same as those described in the summary of significant accounting policies as described in our Annual Report on Form 10-K for the year ended December 31, 2024.

The Company’s Chief Operating Decision Maker (“CODM”) assesses performance at a consolidated level and decides how to allocate resources based on Adjusted EBITDA from continuing operations of the Broadband business.

The measure of segment assets is reported on the balance sheet as total consolidated assets.

The CODM uses (loss) income from continuing operations and Adjusted EBITDA to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into the operations of the Company or for other purposes, such as for acquisitions or to pay dividends.

Adjusted EBITDA is used to monitor budget versus actual results. The CODM also uses Adjusted EBITDA to analyze the Company’s growth by monitoring current results versus prior year results. The analyses are used in assessing performance of the Company and in establishing management’s compensation.

Adjusted EBITDA is a non-GAAP financial measure. The Company defines Adjusted EBITDA as income or loss from continuing operations calculated in accordance with GAAP, adjusted for the impact of depreciation and amortization, impairment expense, other income (expense), net, interest income, interest expense, income tax expense (benefit), stock compensation expense, transaction costs related to acquisition and disposition events (including professional advisory fees, integration costs, and related compensatory matters), restructuring expense, tax on equity award vesting and exercise events, and other non-comparable items. The Company believes that the exclusion of the expense and income items eliminated in calculating Adjusted EBITDA provides management and investors a useful measure for period-to-period comparisons of the Company’s core operating results by excluding items that are not comparable across reporting periods or that do not otherwise relate to the Company’s ongoing operations. Accordingly, the Company believes that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating the Company’s operating results.
The following table summarizes the Company’s revenue, loss from continuing operations, Adjusted EBITDA and significant expenses:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousand)2025202420252024
Service revenue and other$88,568 $85,799 $176,466 $155,047 
Significant expenses and other items:
Cost of services exclusive of depreciation and amortization32,624 34,541 65,654 60,526 
Selling, general and administrative exclusive of stock-based compensation27,556 27,969 54,831 51,981 
Adjusted EBITDA28,388 23,289 55,981 42,540 
Stock-based compensation expense, net of amount capitalized2,187 2,270 5,904 6,236 
Restructuring, integration and acquisition206 11,325 716 11,943 
Depreciation and amortization35,103 25,579 64,561 43,022 
Interest expense6,003 3,996 10,895 8,072 
Other1
(3,015)(1,908)(3,748)(3,644)
Income tax benefit(3,048)(5,200)(4,167)(6,226)
Loss from continuing operations$(9,048)$(12,773)$(18,180)$(16,863)

1 Other primarily includes a gain on escrow settlement, patronage income, interest income, and benefit plan gains.