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Leases

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Leases

Leases

The Company leases various broadband network sites, fiber optic cable routes, warehouses, retail stores and office facilities for use in our business.

The components of lease costs were as follows:

			Classification						Three Months Ended March 31,
(in thousands)									2025						2024
Finance lease cost
Amortization of leased assets			Depreciation and amortization						$	188					$	119
Interest on lease liabilities			Interest expense						24						19
Operating lease cost			Operating expense1						1,164						736
Lease cost									$	1,376					$	874

_________________________________________

(1)Operating lease expense is presented in cost of services or selling, general and administrative expense based on the use of the relevant facility.

The following table summarizes the expected maturity of lease liabilities as of March 31, 2025:

(in thousands)						Operating Leases						Finance Leases						Total
2025 (remainder of the year)						$	2,993					$	255					$	3,248
2026						3,186						400						3,586
2027						2,221						203						2,424
2028						1,837						158						1,995
2029						1,469						160						1,629
2030 and thereafter						7,177						1,041						8,218
Total lease payments						18,883						2,217						21,100
Less: Interest						(4,878)						(460)						(5,338)
Present value of lease liabilities						$	14,005					$	1,757					$	15,762

Other information related to operating and finance leases was as follows:

			March 31, 2025						December 31, 2024
Operating leases
Weighted average remaining lease term (years)			8.4						8.5
Weighted average discount rate			6.2		%				6.1		%
Finance leases
Weighted average remaining lease term (years)			9.0						9.0
Weighted average discount rate			5.3		%				5.3		%

			Three Months Ended March 31,
(in thousands)			2025						2024
Cash paid for operating lease liabilities			$	1,264					$	765
Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modification of existing leases)			51						1,737

The Company also has other operating lease arrangements which generate revenue from leasing the excess fiber capacity of its fiber network assets. Contract terms for these arrangements can range from 1 to 40 years and are billed monthly. Lease revenue from these arrangements was $1.7 million and $0.7 million for the three months ended March 31, 2025 and 2024, respectively. These amounts are presented in service revenue and other in the Company’s unaudited condensed consolidated statements of operations. Contractual minimum rental receipts expected under the lease agreements in place as of March 31, 2025 is as follows:

(in thousands)						Operating Leases
2025 (remainder of the year)						$	3,331
2026						3,816
2027						3,382
2028						3,168
2029						2,884
2030 and thereafter						17,156
Total						$	33,737

Leases

Leases

The Company leases various broadband network sites, fiber optic cable routes, warehouses, retail stores and office facilities for use in our business.

The components of lease costs were as follows:

			Classification						Three Months Ended March 31,
(in thousands)									2025						2024
Finance lease cost
Amortization of leased assets			Depreciation and amortization						$	188					$	119
Interest on lease liabilities			Interest expense						24						19
Operating lease cost			Operating expense1						1,164						736
Lease cost									$	1,376					$	874

_________________________________________

(1)Operating lease expense is presented in cost of services or selling, general and administrative expense based on the use of the relevant facility.

The following table summarizes the expected maturity of lease liabilities as of March 31, 2025:

(in thousands)						Operating Leases						Finance Leases						Total
2025 (remainder of the year)						$	2,993					$	255					$	3,248
2026						3,186						400						3,586
2027						2,221						203						2,424
2028						1,837						158						1,995
2029						1,469						160						1,629
2030 and thereafter						7,177						1,041						8,218
Total lease payments						18,883						2,217						21,100
Less: Interest						(4,878)						(460)						(5,338)
Present value of lease liabilities						$	14,005					$	1,757					$	15,762

Other information related to operating and finance leases was as follows:

			March 31, 2025						December 31, 2024
Operating leases
Weighted average remaining lease term (years)			8.4						8.5
Weighted average discount rate			6.2		%				6.1		%
Finance leases
Weighted average remaining lease term (years)			9.0						9.0
Weighted average discount rate			5.3		%				5.3		%

			Three Months Ended March 31,
(in thousands)			2025						2024
Cash paid for operating lease liabilities			$	1,264					$	765
Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modification of existing leases)			51						1,737

The Company also has other operating lease arrangements which generate revenue from leasing the excess fiber capacity of its fiber network assets. Contract terms for these arrangements can range from 1 to 40 years and are billed monthly. Lease revenue from these arrangements was $1.7 million and $0.7 million for the three months ended March 31, 2025 and 2024, respectively. These amounts are presented in service revenue and other in the Company’s unaudited condensed consolidated statements of operations. Contractual minimum rental receipts expected under the lease agreements in place as of March 31, 2025 is as follows:

(in thousands)						Operating Leases
2025 (remainder of the year)						$	3,331
2026						3,816
2027						3,382
2028						3,168
2029						2,884
2030 and thereafter						17,156
Total						$	33,737

Leases

Leases

The Company leases various broadband network sites, fiber optic cable routes, warehouses, retail stores and office facilities for use in our business.

The components of lease costs were as follows:

			Classification						Three Months Ended March 31,
(in thousands)									2025						2024
Finance lease cost
Amortization of leased assets			Depreciation and amortization						$	188					$	119
Interest on lease liabilities			Interest expense						24						19
Operating lease cost			Operating expense1						1,164						736
Lease cost									$	1,376					$	874

_________________________________________

(1)Operating lease expense is presented in cost of services or selling, general and administrative expense based on the use of the relevant facility.

The following table summarizes the expected maturity of lease liabilities as of March 31, 2025:

(in thousands)						Operating Leases						Finance Leases						Total
2025 (remainder of the year)						$	2,993					$	255					$	3,248
2026						3,186						400						3,586
2027						2,221						203						2,424
2028						1,837						158						1,995
2029						1,469						160						1,629
2030 and thereafter						7,177						1,041						8,218
Total lease payments						18,883						2,217						21,100
Less: Interest						(4,878)						(460)						(5,338)
Present value of lease liabilities						$	14,005					$	1,757					$	15,762

Other information related to operating and finance leases was as follows:

			March 31, 2025						December 31, 2024
Operating leases
Weighted average remaining lease term (years)			8.4						8.5
Weighted average discount rate			6.2		%				6.1		%
Finance leases
Weighted average remaining lease term (years)			9.0						9.0
Weighted average discount rate			5.3		%				5.3		%

			Three Months Ended March 31,
(in thousands)			2025						2024
Cash paid for operating lease liabilities			$	1,264					$	765
Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modification of existing leases)			51						1,737

The Company also has other operating lease arrangements which generate revenue from leasing the excess fiber capacity of its fiber network assets. Contract terms for these arrangements can range from 1 to 40 years and are billed monthly. Lease revenue from these arrangements was $1.7 million and $0.7 million for the three months ended March 31, 2025 and 2024, respectively. These amounts are presented in service revenue and other in the Company’s unaudited condensed consolidated statements of operations. Contractual minimum rental receipts expected under the lease agreements in place as of March 31, 2025 is as follows:

(in thousands)						Operating Leases
2025 (remainder of the year)						$	3,331
2026						3,816
2027						3,382
2028						3,168
2029						2,884
2030 and thereafter						17,156
Total						$	33,737

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- Definition

The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-20/tableOfContent

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- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-20/tableOfContent

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- Definition

The entire disclosure for lessor's operating leases.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-30/tableOfContent

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