Revenue and Deferred Revenue (Tables)

6 Months Ended

Jun. 30, 2026

Revenue and Deferred Revenue

Schedule of revenue disaggregated by revenue stream

The following table provides the Company’s revenues disaggregated by revenue stream (in thousands):


		For the three months ended						For the six months ended
		June 30, 2026			June 30, 2025			June 30, 2026			June 30, 2025
Revenue:
Network design and installation		$	1,620		$	4,646		$	4,996		$	9,616
Internet network services and hardware and internet service			1,236			680			2,290			1,155
Total		$	2,856		$	5,326		$	7,286		$	10,771

Schedule of changes in current deferred revenue balance and network financing receivable balance

Changes in the Company’s current deferred revenue balance for the six months ended June 30, 2026 and 2025, were as follows (in thousands):


		Deferred Revenues
Balance as of January 1, 2025		$	6,215
Additions included in deferred revenue as of end of period			4,891
Revenue recognized from opening balance			(4,211)
Balance as of June 30, 2025		$	6,895

Balance as of January 1, 2026		$	3,194
Additions included in deferred revenue as of end of period			5,292
Revenue recognized from opening balance			(2,886)
Balance as of June 30, 2026		$	5,600

Changes in the Company’s network financing receivable balance for the six months ended June 30, 2026 and 2025, were as follows (in thousands):


		Network financing receivable
Balance as of January 1, 2025		$	513
Additional unbilled revenue recognized			406
Amounts billed during the period			(17)
Balance as of June 30, 2025		$	902

Balance as of January 1, 2026		$	1,291
Additional unbilled revenue recognized			—
Amounts billed during the period			(106)
Balance as of June 30, 2026		$	1,185