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Revenue from Contracts with Customers
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
The Company’s revenues by activity type were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2024202320242023
Residential & SMB - Incumbent Broadband Markets1
$44,225 $43,679 $133,555 $132,838 
Residential & SMB - Glo Fiber Expansion Markets2
15,100 9,325 41,311 24,492 
Commercial Fiber20,257 10,415 49,555 32,366 
RLEC & Other8,017 3,990 18,225 11,522 
Service revenue and other$87,599 $67,409 $242,646 $201,218 
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1.Incumbent Broadband Markets consists of Shentel Incumbent Cable Markets and Horizon Incumbent Telephone Markets with Fiber-To-The-Home (“FTTH”) passings.
2.Glo Fiber Expansion Markets consists of FTTH passings in greenfield expansion markets in the Shentel and former Horizon markets.

Shentel updated the description for revenues previously reported as “Residential & SMB - Cable Markets” to “Residential & SMB - Incumbent Broadband Markets” and updated the description for revenues previously reported as “Residential & SMB - Glo Fiber Markets” to “Residential & SMB - Glo Fiber Expansion Markets.”

Shentel had $22.1 million and $17.6 million of gross trade receivables from customers as of September 30, 2024 and December 31, 2023, respectively.

Contract Assets

The Company’s contract assets primarily include commissions incurred to acquire contracts with customers. The Company incurs commission expenses related to in-house and third-party vendors which are capitalized and amortized over the expected customer benefit period which is approximately six years. The Company’s current contract assets are included in prepaid expenses and other and the Company’s non-current contract assets are included in deferred charges and other assets in its unaudited condensed consolidated balance sheets. Amortization of capitalized commission expenses is recorded in selling, general and administrative expenses in the Company’s unaudited condensed consolidated statements of operations.
The following tables present the activity of current and non-current contract assets:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2024202320242023
Beginning Balance$9,345 $8,742 $8,633 $8,646 
Commission payments1,050 755 3,465 2,439 
Contract asset amortization(722)(822)(2,425)(2,410)
Ending Balance$9,673 $8,675 $9,673 $8,675 

Contract Liabilities

The Company’s contract liabilities include services that are billed in advance and recorded as deferred revenue, as well as installation fees that are charged upfront without transfer of commensurate goods or services to the customer. The Company’s current contract liabilities are included in advanced billings and customer deposits in its unaudited condensed consolidated balance sheets and the Company’s non-current contract liabilities are included in other liabilities in its unaudited condensed consolidated balance sheets.

Shentel’s current contract liability balances were $11.6 million and $10.0 million at September 30, 2024 and December 31, 2023, respectively. Shentel’s non-current contract liability balances were $5.3 million and $1.0 million as of September 30, 2024 and December 31, 2023, respectively. Shentel expects its current contract liability balances to be recognized as revenues during the twelve-month periods following the respective balance sheet dates and its non-current contract liability balances to be recognized as revenues after the twelve-month periods following the respective balance sheet dates.