v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 213,651 $ 198,486
Restricted cash 93,074 29,430
Accounts receivable, net of allowance for credit losses of $8,390 and $9,762, respectively 95,127 96,934
Due from T-Mobile, IP Transit Services Agreement, current portion, net of discount of $13,720 and $16,915, respectively 86,280 83,085
Due from T-Mobile, Transition Services Agreement 119 62
Prepaid expenses and other current assets 72,720 74,104
Total current assets 560,971 482,101
Property and equipment:    
Property and equipment 3,546,033 3,319,731
Accumulated depreciation and amortization (1,820,651) (1,655,564)
Total property and equipment, net 1,725,382 1,664,167
Right-of-use leased assets 325,681 324,315
IPv4 intangible asset 458,000 458,000
Other intangible assets, net 12,147 13,029
Deposits and other assets 29,809 29,596
Due from T-Mobile, IP Transit Services Agreement, net of discount of $6,343 and $12,312, respectively 135,323 179,534
Due from T-Mobile, Purchase Agreement, net of discount of $4,897 and $5,755, respectively 23,218 22,360
Total assets 3,270,531 3,173,102
Current liabilities:    
Accounts payable 49,169 39,805
Accrued and other current liabilities 116,653 134,609
Due to T-Mobile - Transition Services Agreement 9 525
Current maturities, operating lease liabilities 50,932 57,172
Finance lease obligations, current maturities 26,523 21,225
Total current liabilities 243,286 253,336
Operating lease liabilities, net of current maturities 298,515 302,004
Finance lease obligations, net of current maturities 578,634 517,161
Deferred income tax liabilities 362,464 398,266
Other long-term liabilities 29,943 40,129
Total liabilities 3,223,863 2,950,254
Commitments and contingencies:
Stockholders' equity:    
Common stock, $0.001 par value; 75,000,000 shares authorized; 49,246,196 and 49,034,925 shares issued and outstanding, respectively 49 49
Additional paid-in capital 632,702 629,829
Accumulated other comprehensive loss (1,196) (30,685)
Accumulated deficit (584,887) (376,345)
Total stockholders' equity 46,668 222,848
Total liabilities and stockholders' equity 3,270,531 3,173,102
Senior secured 2026 Notes    
Current liabilities:    
Secured notes   499,126
Senior unsecured 2027 notes    
Current liabilities:    
Senior unsecured 2027 notes, net of unamortized debt costs of $1,632 and $2,013, respectively, and discounts of $5,724 and $7,053, respectively 742,644 740,934
Secured IPv4 notes    
Current assets:    
Restricted cash 79,500 7,100
Current liabilities:    
Secured notes 370,520 $ 199,298
Senior secured 2032 notes    
Current liabilities:    
Secured notes $ 597,857