| Schedule of revenue disaggregated by revenue stream |
The following table provides the Company’s revenues disaggregated by revenue stream (in thousands): | | | | | | | | | | | | | | | | For the three months ended March 31, | | | 2026 | | 2025 | Revenue: | | | | | | | Network design and installation | | $ | 3,377 | | $ | 4,971 | Internet network services and hardware and internet service | | | 1,053 | | | 475 | Total | | $ | 4,430 | | $ | 5,446 |
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The following table provides the Company’s revenue disaggregated by revenue stream (in thousands): | | | | | | | | | | | | | | | | For the years ended December 31, | | | 2025 | | 2024 | Revenue: | | | | | | | Network design and installation | | $ | 18,796 | | $ | 7,370 | Internet network services and hardware and internet service | | | 2,822 | | | 1,125 | Total | | $ | 21,618 | | $ | 8,495 |
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| Schedule of changes in current deferred revenue balance and network financing receivable balance |
Changes in the Company’s current deferred revenue balance for the three months ended March 31, 2026 and 2025, were as follows (in thousands): | | | | | | | | | | Deferred Revenues | Balance as of January 1, 2025 | | $ | 6,215 | Additions included in deferred revenue as of end of period | | | 2,841 | Revenue recognized from opening balance | | | (3,158) | Balance as of March 31, 2025 | | | 5,898 | | | | | Balance as of January 1, 2026 | | | 3,194 | Additions included in deferred revenue as of end of period | | | 4,138 | Revenue recognized from opening balance | | | (3,228) | Balance as of March 31, 2026 | | $ | 4,104 |
Changes in the Company’s network financing receivable balance for the three months ended March 31, 2026 and 2025, were as follows (in thousands): | | | | | | | | | | Network financing receivable | Balance as of January 1, 2025 | | $ | 513 | Additional unbilled revenue recognized | | | 406 | Amounts billed during the period | | | (17) | Balance as of March 31, 2025 | | $ | 902 | | | | | Balance as of January 1, 2026 | | $ | 1,291 | Additional unbilled revenue recognized | | | — | Amounts billed during the period | | | (53) | Balance as of March 31, 2026 | | $ | 1,238 |
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Changes in the Company’s deferred revenue balance for the years ended December 31, 2025 and 2024, respectively, were as follows (in thousands): | | | | | | | | Balance as of January 1, 2024 | | $ | 1,880 | Additions included in deferred revenue as of end of period | | | 6,182 | Revenue recognized from opening balance | | | (1,847) | Balance as of December 31, 2024 | | $ | 6,215 | Additions included in deferred revenue as of end of period | | | 2,457 | Revenue recognized from opening balance | | | (5,478) | Balance as of December 31, 2025 | | $ | 3,194 |
Changes in the Company’s network financing receivable balance for the years ended December 31, 2025 and 2024 were as follows (in thousands): | | | | | | | | Balance as of January 1, 2024 | | $ | — | Additional unbilled revenue recognized | | | 550 | Amounts billed during the period | | | (37) | Balance as of December 31, 2024 | | $ | 513 | Additional unbilled revenue recognized | | | 887 | Amounts billed during the period | | | (109) | Balance as of December 31, 2025 | | $ | 1,291 |
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