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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 148,515 $ 198,486
Restricted cash 56,597 29,430
Accounts receivable, net of allowance for credit losses of $4,610 and $9,762, respectively 88,050 96,934
Due from T-Mobile, IP Transit Services Agreement, current portion, net of discount of $10,401 and $16,915, respectively 89,599 83,085
Due from T-Mobile, Transition Services Agreement 119 62
Prepaid expenses and other current assets 67,701 74,104
Total current assets 450,581 482,101
Property and equipment:    
Property and equipment 3,642,906 3,319,731
Accumulated depreciation and amortization (1,921,832) (1,655,564)
Total property and equipment, net 1,721,074 1,664,167
Right-of-use leased assets 310,523 324,315
IPv4 intangible asset 458,000 458,000
Other intangible assets, net 11,251 13,029
Due from T-Mobile, IP Transit Services Agreement, net of discount of $2,255 and $12,122, respectively 89,412 179,534
Due from T-Mobile, Purchase Agreement, net of discount of $4,006 and $5,755, respectively 24,109 22,360
Deposits and other assets 34,834 29,596
Total assets 3,099,784 3,173,102
Current liabilities:    
Accounts payable 30,571 39,805
Accrued and other current liabilities 109,582 134,609
Due to T-Mobile - Transition Services Agreement   525
Current maturities, operating lease liabilities 54,576 57,172
Finance lease obligations, current maturities 26,112 21,225
Total current liabilities 220,841 253,336
Operating lease liabilities, net of current maturities 269,753 302,004
Finance lease obligations, net of current maturities 597,239 517,161
Deferred income tax liabilities 333,294 398,266
Other long-term liabilities 28,568 40,129
Total liabilities 3,163,632 2,950,254
Commitments and contingencies
Stockholders' (deficit) equity:    
Common stock, $0.001 par value; 75,000,000 shares authorized; 50,062,158 and 49,034,925 shares issued and outstanding, respectively 50 49
Additional paid-in capital 643,256 629,829
Accumulated other comprehensive income (loss) 1,428 (30,685)
Accumulated deficit (708,582) (376,345)
Total stockholders' (deficit) equity (63,848) 222,848
Total liabilities and stockholders' (deficit) equity 3,099,784 3,173,102
Senior secured 2032 notes    
Current liabilities:    
Secured notes 597,980  
Senior secured 2026 notes    
Current liabilities:    
Secured notes   499,126
Senior unsecured 2027 notes    
Current liabilities:    
Senior unsecured 2027 notes, net of unamortized debt costs of $1,236 and $2,013, respectively, and discounts of $4,344 and $7,053, respectively 744,420 740,934
Secured IPv4 notes    
Current assets:    
Restricted cash 52,500 7,100
Current liabilities:    
Secured notes $ 371,537 $ 199,298