v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 183,703 $ 148,515
Restricted cash 185,971 56,597
Accounts receivable, net of allowance for credit losses of $5,501 and $4,610, respectively 85,820 88,050
Due from T-Mobile, IP Transit Services Agreement, current portion, net of discount of $6,369 and $10,401, respectively 85,298 89,599
Prepaid expenses and other current assets 65,358 67,820
Total current assets 606,150 450,581
Property and equipment:    
Property and equipment 3,575,657 3,642,906
Accumulated depreciation and amortization (1,937,453) (1,921,832)
Total property and equipment, net 1,638,204 1,721,074
Right-of-use leased assets 294,444 310,523
IPv4 intangible asset 458,000 458,000
Other intangible assets, net 10,370 11,251
Deposits and other assets 30,520 34,834
Due from T-Mobile, IP Transit Services Agreement, net of discount of $519 and $12,122, respectively 41,147 89,412
Due from T-Mobile, Purchase Agreement, net of discount of $3,081 and $4,006, respectively 25,034 24,109
Total assets 3,103,869 3,099,784
Current liabilities:    
Accounts payable 36,255 30,571
Accrued and other current liabilities 102,773 109,582
Senior unsecured 2027 notes, net of unamortized debt costs of $827 and discount of $2,909 746,264  
Current maturities, operating lease liabilities 53,102 54,576
Finance lease obligations, current maturities 21,171 26,112
Total current liabilities 959,565 220,841
Operating lease liabilities, net of current maturities 256,374 269,753
Finance lease obligations, net of current maturities 609,039 597,239
Deferred income tax liabilities 333,906 333,294
Other long-term liabilities 29,204 28,568
Total liabilities 3,137,999 3,163,632
Commitments and contingencies:
Stockholders' deficit:    
Common stock, $0.001 par value; 75,000,000 shares authorized; 51,215,736 and 50,062,158 shares issued and outstanding, respectively 51 50
Additional paid-in capital 659,927 643,256
Accumulated other comprehensive (loss) income (9,040) 1,428
Accumulated deficit (685,068) (708,582)
Total stockholders' deficit (34,130) (63,848)
Total liabilities and stockholders' deficit 3,103,869 3,099,784
Senior secured 2032 notes    
Current assets:    
Restricted cash 147,600  
Current liabilities:    
Secured notes 577,315 597,980
Senior unsecured 2027 notes    
Current liabilities:    
Senior unsecured 2027 notes, net of unamortized debt costs of $1,236 and discount of $4,344   744,420
Secured IPv4 notes    
Current assets:    
Restricted cash 38,400 52,500
Current liabilities:    
Secured notes $ 372,596 $ 371,537