v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Service revenue $ 235,559 $ 246,247 $ 474,746 $ 493,298
Operating expenses:        
Network operations 125,006 137,492 254,236 274,930
Selling, general, and administrative 72,096 64,924 144,434 138,787
Depreciation and amortization 52,952 75,290 107,008 151,328
Total operating expenses 250,054 277,706 505,678 565,045
Gains on asset sales 132,041   132,583  
Gains on finance lease terminations 1,397   3,782  
Operating income (loss) 118,943 (31,459) 105,433 (71,747)
Interest expense, including change in valuation interest rate swap agreement (43,764) (39,777) (87,637) (73,971)
Interest income - IP Transit Services Agreement 2,676 4,299 5,769 8,984
Interest income - Purchase Agreement 467 433 925 858
Interest income and other, net 3,223 (2,415) 6,074 (3,306)
Income (loss) before income taxes 83,124 (74,525) 32,143 (144,788)
Income tax (provision) benefit (16,488) 16,718 (5,049) 34,939
Net income (loss) 66,636 (57,807) 27,094 (109,849)
Comprehensive income (loss):        
Net income (loss) 66,636 (57,807) 27,094 (109,849)
Foreign currency translation adjustment (2,713) 17,737 (10,468) 29,489
Comprehensive income (loss) $ 63,923 $ (40,070) $ 16,626 $ (80,360)
Net income (loss) per common share:        
Basic net loss per common share (in dollars per share) $ 1.39 $ (1.21) $ 0.56 $ (2.3)
Diluted net loss per common share (in dollars per share) 1.38 (1.21) 0.56 (2.3)
Dividends declared per common share (in dollars per share) $ 0.02 $ 1.01 $ 0.04 $ 2.015
Weighted-average common shares - basic (in shares) 47,921,120 47,592,836 47,972,542 47,804,421
Weighted-average common shares - diluted (in shares) 48,429,166 47,592,836 48,333,924 47,804,421
2026 Notes        
Operating expenses:        
Gain (Loss) on debt extinguishment and redemption   $ (5,606)   $ (5,606)
Senior secured 2032 notes        
Operating expenses:        
Gain (Loss) on debt extinguishment and redemption $ 1,579   $ 1,579