v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 166,855 $ 148,515
Restricted cash 14,440 56,597
Accounts receivable, net of allowance for credit losses of $5,085 and $4,610, respectively 91,389 88,050
Due from T-Mobile, IP Transit Services Agreement, current portion, net of discount of $4,585 and $10,401, respectively 95,415 89,599
Prepaid expenses and other current assets 67,890 67,820
Total current assets 435,989 450,581
Total property and equipment, net 1,626,018 1,721,074
Right-of-use leased assets 289,972 310,523
IPv4 intangible asset 458,000 458,000
Other intangible assets, net 9,921 11,251
Deposits and other assets 30,711 34,834
Due from T-Mobile, IP Transit Services Agreement, net of discount of $52 and $2,255, respectively 16,614 89,412
Due from T-Mobile, Purchase Agreement, net of discount of $2,605 and $4,006, respectively 25,509 24,109
Total assets 2,892,734 3,099,784
Current liabilities:    
Accounts payable 30,417 30,571
Accrued and other current liabilities 105,779 109,582
Senior unsecured 2027 notes, net of unamortized debt costs of $559 and discount of $1,859 697,582  
Current maturities, operating lease liabilities 54,337 54,576
Finance lease obligations, current maturities 20,190 26,112
Total current liabilities 908,305 220,841
Operating lease liabilities, net of current maturities 243,090 269,753
Finance lease obligations, net of current maturities 601,907 597,239
Deferred income tax liabilities 334,280 333,294
Other long-term liabilities 29,622 28,568
Total liabilities 2,949,753 3,163,632
Commitments and contingencies:
Stockholders' deficit:    
Common stock, $0.001 par value; 75,000,000 shares authorized; 51,203,883 and 50,062,158 shares issued and outstanding, respectively 51 50
Additional paid-in capital 668,494 643,256
Accumulated other comprehensive (loss) income (9,426) 1,428
Accumulated deficit (716,138) (708,582)
Total stockholders' deficit (57,019) (63,848)
Total liabilities and stockholders' deficit 2,892,734 3,099,784
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 14,400 52,500
Current liabilities:    
Secured notes 373,142 371,537
Senior secured 2032 notes    
Current liabilities:    
Secured notes $ 459,407 $ 597,980