v3.26.1
Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
The Company’s revenues by activity type were as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2026202520262025
Residential & SMB - Incumbent Broadband Markets1
$40,282 $42,837 $81,425 $86,196 
Residential & SMB - Glo Fiber Expansion Markets2
26,289 19,796 51,117 38,240 
Commercial Fiber21,386 19,483 41,928 39,095 
RLEC & Other5,505 6,452 11,145 12,935 
Service revenue and other$93,462 $88,568 $185,615 $176,466 
_______________________________________________________
1.Revenue from residential and small and medium business (“SMB”) customers in Incumbent Broadband Markets is primarily earned through the Company’s provision of data, video and voice services over primarily HFC cable and to a lesser extent fiber to the home (“FTTH”) networks in incumbent markets.
2.Revenue from residential and SMB customers in Glo Fiber Expansion Markets is primarily earned through the Company’s provision of data, video and voice services over FTTH networks in new greenfield expansion markets.

Shentel had $20.7 million and $19.5 million of gross trade receivables from customers as of June 30, 2026 and December 31, 2025, respectively.
Contract Assets and Liabilities

The following table presents the Company’s contract asset and contract liability balances and their respective locations in the unaudited condensed consolidated balance sheets:
(in thousands)June 30,
2026		December 31,
2025
Contract assets
Prepaid expenses and other$4,240 $3,818 
Deferred charges and other
10,682 9,288 
Total contract assets$14,922 $13,106 
Contract liabilities
Advanced billings and customer deposits$14,474 $13,436 
Other liabilities11,366 11,139 
Total contract liabilities$25,840 $24,575 

The Company’s contract assets primarily include commissions incurred to acquire contracts with customers. The Company incurs commission expenses related to in-house and third-party vendors which are capitalized and amortized over the expected customer benefit period, which is approximately six years. The company incurred $1.1 million and $1.0 million in amortization of capitalized commission expenses during the three months ended June 30, 2026 and 2025, respectively. The company incurred $2.1 million and $1.9 million in amortization of capitalized commission expenses during the six months ended June 30, 2026 and 2025, respectively. This expense is recorded in selling, general and administrative expenses in the Company’s unaudited condensed consolidated statements of operations.

The Company’s contract liabilities include services that are billed in advance and recorded as deferred revenue, as well as installation fees that are charged upfront without transfer of commensurate goods or services to the customer. Shentel expects its current contract liability balances to be recognized as revenues during the twelve-month period following the respective balance sheet date. The majority of Shentel’s non-current contract liability balance is expected to be recognized as revenues within approximately 5 years. Revenues recognized related to contract liabilities existing at January 1, 2026 and 2025 were $1.1 million and $0.8 million for the three months ended June 30, 2026 and 2025, respectively, and $11.8 million and $10.7 million during the six months ended June 30, 2026 and 2025, respectively.