GOVERNMENT SUPPORT AND SPECTRUM MATTERS (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| GOVERNMENT SUPPORT AND SPECTRUM MATTERS |
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| Summary of revenues |
Revenue recognized consisted of the following for the periods presented below (in thousands): | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, 2026 | | Three months ended June 30, 2025 | | | International | | US | | | | | International | | US | | | | | | Telecom | | Telecom | | Total | | Telecom | | Telecom | | Total | Services transferred over time | | $ | 92,210 | | $ | 72,332 | | $ | 164,542 | | $ | 90,196 | | $ | 69,474 | | $ | 159,670 | Goods and services transferred at a point in time | | | 3,751 | | | 2,256 | | | 6,007 | | | 3,108 | | | 3,706 | | | 6,814 | Total revenue accounted for under ASC 606 | | $ | 95,961 | | $ | 74,588 | | $ | 170,549 | | $ | 93,304 | | $ | 73,180 | | $ | 166,484 | Operating lease income | | | 234 | | | 1,871 | | | 2,105 | | | 221 | | | 1,827 | | | 2,048 | Government support revenue (1) | | | — | | | 11,850 | | | 11,850 | | | 1,370 | | | 11,398 | | | 12,768 | Total revenue | | $ | 96,195 | | $ | 88,309 | | $ | 184,504 | | $ | 94,895 | | $ | 86,405 | | $ | 181,300 |
| | | | | | | | | | | | | | | | | | | | | Six months ended June 30, 2026 | | Six months ended June 30, 2025 | | | International | | US | | | | | International | | US | | | | | | Telecom | | Telecom | | Total | | Telecom | | Telecom | | Total | Services transferred over time | | $ | 184,379 | | $ | 143,018 | | $ | 327,397 | | $ | 179,712 | | $ | 138,179 | | $ | 317,891 | Goods and services transferred at a point in time | | | 7,427 | | | 3,672 | | | 11,099 | | | 6,620 | | | 6,612 | | | 13,232 | Total revenue accounted for under ASC 606 | | $ | 191,806 | | $ | 146,690 | | $ | 338,496 | | $ | 186,332 | | $ | 144,791 | | $ | 331,123 | Operating lease income | | | 446 | | | 4,112 | | | 4,558 | | | 376 | | | 3,655 | | | 4,031 | Government support revenue (1) | | | — | | | 23,668 | | | 23,668 | | | 2,682 | | | 22,758 | | | 25,440 | Total revenue | | $ | 192,252 | | $ | 174,470 | | $ | 366,722 | | $ | 189,390 | | $ | 171,204 | | $ | 360,594 |
| (1) | Revenue recognized from CAF II and USF programs (each as defined below). Refer to Note 9. |
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| Communication services |
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| GOVERNMENT SUPPORT AND SPECTRUM MATTERS |
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| Summary of revenues |
The Company recorded the amounts below as communication services revenue for the reported periods (in thousands): | | | | | | | | | | | | | | | | | | | Three months ended | | Three months ended | | June 30, 2026 | | June 30, 2025 | | | | | | | | | | | | | | | | | | | | US Telecom | | International Telecom | | Total | | US Telecom | | International Telecom | | Total | | | | | | | | | | | | | | | | | | | High cost support | $ | 3,495 | | $ | — | | $ | 3,495 | | $ | 3,101 | | $ | 1,370 | | $ | 4,471 | CAF II (including ACF) | | 8,280 | | | — | | | 8,280 | | | 8,227 | | | — | | | 8,227 | RDOF | | 75 | | | — | | | 75 | | | 69 | | | — | | | 69 | RHC | | 6,563 | | | — | | | 6,563 | | | 4,353 | | | — | | | 4,353 | Other | | 1,461 | | | 4 | | | 1,465 | | | 1,567 | | | 4 | | | 1,571 | Total | $ | 19,874 | | $ | 4 | | $ | 19,878 | | $ | 17,317 | | $ | 1,374 | | $ | 18,691 |
| | | | | | | | | | | | | | | | | | | Six months ended | | Six months ended | | June 30, 2026 | | June 30, 2025 | | | | | | | | | | | | | | | | | | | | US Telecom | | International Telecom | | Total | | US Telecom | | International Telecom | | Total | | | | | | | | | | | | | | | | | | | High cost support | $ | 6,970 | | $ | — | | $ | 6,970 | | $ | 6,216 | | $ | 2,683 | | $ | 8,899 | CAF II (including ACF) | | 16,548 | | | — | | | 16,548 | | | 16,397 | | | — | | | 16,397 | RDOF | | 150 | | | — | | | 150 | | | 144 | | | — | | | 144 | RHC | | 12,881 | | | — | | | 12,881 | | | 8,715 | | | — | | | 8,715 | Other | | 2,904 | | | 6 | | | 2,910 | | | 3,204 | | | 8 | | | 3,212 | Total | $ | 39,453 | | $ | 6 | | $ | 39,459 | | $ | 34,676 | | $ | 2,691 | | $ | 37,367 |
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| Network Connectivity for Eligible Communities |
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| GOVERNMENT SUPPORT AND SPECTRUM MATTERS |
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| Schedule of grant funds |
The Company is currently reviewing funding available under the BEAD grant program. A roll forward of the Company’s grant awards is below (in thousands). | | | | Amount | Grants awarded, December 31, 2025 | $ | 98,826 | New grants | | 2,041 | Construction complete | | — | Grants awarded, June 30, 2026 | $ | 100,867 |
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| Remove And Replace Program |
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| GOVERNMENT SUPPORT AND SPECTRUM MATTERS |
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| Schedule of grant funds |
A summary of the amounts spent and reimbursed under the Replace and Remove Program is below (in thousands): | | | | | | | | | | Capital | | Operating | | Total | | | | | | | | | | Total spend, December 31, 2025 | $ | 194,897 | | $ | 38,799 | | $ | 233,696 | Amounts spent | | 12,484 | | | 2,869 | | | 15,353 | Amounts transferred | | (9,030) | | | — | | | (9,030) | Total spend, June 30, 2026 | $ | 198,351 | | $ | 41,668 | | $ | 240,019 | | | | | | | | | | Total reimbursements, December 31, 2025 | $ | (163,122) | | $ | (38,682) | | $ | (201,804) | Reimbursements received | | (14,336) | | | (1,540) | | | (15,876) | Total reimbursements, June 30, 2026 | $ | (177,458) | | $ | (40,222) | | $ | (217,680) | | | | | | | | | | Amount pending reimbursement | $ | 20,893 | | $ | 1,446 | | $ | 22,339 |
| | | | | | | | | | Capital | | Operating | | Total | | | | | | | | | | Total spend, December 31, 2024 | $ | 140,949 | | $ | 27,446 | | $ | 168,395 | Amounts spent | | 26,878 | | | 5,211 | | | 32,089 | Total spend, June 30, 2025 | $ | 167,827 | | $ | 32,657 | | $ | 200,484 | | | | | | | | | | Total reimbursements, December 31, 2024 | $ | (103,540) | | $ | (27,181) | | $ | (130,721) | Reimbursements received | | (31,940) | | | (5,086) | | | (37,026) | Total reimbursements, June 30, 2025 | $ | (135,480) | | $ | (32,267) | | $ | (167,747) | | | | | | | | | | Amount pending reimbursement | $ | 32,347 | | $ | 390 | | $ | 32,737 |
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