v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 27,094 $ (109,849)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 107,008 151,328
Amortization of debt costs and discounts 3,022 2,534
Amortization of discounts, due from T-Mobile, IP Transit Services & Purchase Agreements (6,694) (9,842)
Equity-based compensation expense (net of amounts capitalized) 15,205 12,677
Gains on asset sales and finance lease terminations (136,365)  
Deferred income taxes 612 (35,802)
Changes in operating assets and liabilities:    
Accounts receivable 2,230 1,807
Prepaid expenses and other current assets 2,462 (6,222)
Accounts payable, accrued liabilities and other long-term liabilities 863 (18,300)
Deposits and other assets 4,171 (1,624)
Net cash provided by (used in) operating activities 18,029 (7,687)
Cash flows from investing activities:    
Proceeds from sale of data center assets, net 224,159  
Cash receipts - IP Transit Services Agreement - T-Mobile 58,333 50,000
Purchases of property and equipment (84,774) (114,288)
Net cash provided by (used in) investing activities 197,718 (64,288)
Cash flows from financing activities:    
Dividends paid (3,580) (98,693)
Purchases of common stock   (11,517)
Proceeds from exercises of stock options   151
Principal payments of finance lease obligations (23,007) (16,523)
Net cash (used in) provided by financing activities (45,346) 136,739
Effect of exchange rates changes on cash (5,839) 14,045
Net increase in cash, cash equivalents and restricted cash 164,562 78,809
Cash, cash equivalents and restricted cash, beginning of period 205,112 227,916
Cash, cash equivalents and restricted cash, end of period 369,674 306,725
Supplemental disclosure of non-cash financing activities:    
Finance lease obligations incurred 52,102 79,076
2026 Notes    
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Loss on debt extinguishment and redemption   5,606
Cash flows from financing activities:    
Debt extinguishment and redemption   (505,000)
Senior secured 2032 notes    
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Loss on debt extinguishment and redemption (1,579)  
Cash flows from financing activities:    
Net proceeds from issuance   597,842
Debt extinguishment and redemption $ (18,759)  
Secured IPv4 notes    
Cash flows from financing activities:    
Net proceeds from issuance   $ 170,479