v3.25.4
Revenue (Tables)
 9 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table provides information regarding the Company’s revenue for each of the services it provides pursuant to its spectrum revenue agreements for the three and nine months ended December 31, 2025 and 2024 (in thousands):
 Three months ended December 31,Nine months ended December 31,
 2025202420252024
Spectrum revenue
900 MHz Broadband Spectrum Revenue
Ameren Corporation$206$197$618$535
Evergy3853851,1551,156
Xcel Energy9048012,5892,404
TECO (1)
78—181—
Narrowband Spectrum Revenue
Motorola (2)
—183—547
Total spectrum revenue (3)
$1,573$1,566$4,543$4,642
1.The Company commenced revenue recognition in connection with the delivery of cleared 900 MHz Broadband Spectrum and the associated broadband licenses to Tampa Electric Company (“TECO”) in June 2025.
2.As of December 31, 2024, the Company recognized all the revenue associated with the 2014 Motorola spectrum agreement.
3.Revenue recognized during the three and nine months ended December 31, 2025 and 2024 was included in deferred revenue at the beginning of the respective periods.
Schedule of Contract Assets
The Company’s capitalized contract costs consisted of the following activity during the three and nine months ended December 31, 2025 and 2024 (in thousands):
 Three months ended December 31,Nine months ended December 31,
 2025202420252024
Balance at the beginning of the period$1,391$1,102$1,241$1,027
Additions 43117217233
Amortization(6)(71)(30)(112)
Balance at the end of the period1,4281,1481,4281,148
Less amount classified as current assets (1)
(24)(757)(24)(757)
Noncurrent assets (1)
$1,404$391$1,404$391
1.Current assets are recorded as prepaid expenses and other current assets and noncurrent assets are recorded as other assets on the Company’s Consolidated Balance Sheets.
Schedule of Contract Liabilities The Company’s contract liabilities consisted of the following activity during the three and nine months ended December 31, 2025 and 2024 (in thousands):
 Three months ended December 31,Nine months ended December 31,
 2025202420252024
Balance at the beginning of the period$130,416$126,627$124,672$122,212
Net additions (1)
3,7531,00012,4678,491
Revenue recognized(1,573)(1,566)(4,543)(4,642)
Balance at the end of the period132,596126,061132,596126,061
Less amount classified as current liabilities (2)
(7,867)(5,962)(7,867)(5,962)
Noncurrent liabilities (2)
$124,729$120,099$124,729$120,099
1.Represents milestone payments received from customer contracts pursuant to the terms of the associated spectrum revenue agreements, net of delivery delay adjustments.
2.Current liabilities and noncurrent liabilities are recorded as deferred revenue on the Company’s Consolidated Balance Sheets.