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Segment Information | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company operates as one segment. The accounting policies of the Company’s segment are the same as those described in the summary of significant accounting policies as described in our Annual Report on Form 10-K for the year ended December 31, 2024. During the third quarter of 2025, in conjunction with the change in Shentel’s Chief Executive Officer, the Company evaluated and concluded that the Chief Executive Officer role continues to represent the Company’s Chief Operating Decision Maker (“CODM”). The Company’s CODM assesses company performance at a consolidated level and decides how to allocate resources based on Earnings before Interest, Taxes, Depreciation and Amortization, as adjusted for certain non-recurring items, (“Adjusted EBITDA”) from continuing operations of the Broadband business. The measure of segment assets is reported on the balance sheet as total consolidated assets. The CODM uses (loss) income from continuing operations and Adjusted EBITDA to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into the operations of the Company or for other purposes, such as for acquisitions or to pay dividends. Adjusted EBITDA is used to monitor budget versus actual results. The CODM also uses Adjusted EBITDA to analyze the Company’s growth by monitoring current results versus prior year results. The analyses are used in assessing performance of the Company and in establishing management’s compensation. Adjusted EBITDA is a non-GAAP financial measure. The Company defines Adjusted EBITDA as income or loss from continuing operations calculated in accordance with GAAP, adjusted for the impact of depreciation and amortization, impairment expense, other income (expense), net, interest income, interest expense, income tax expense (benefit), stock compensation expense, transaction costs related to acquisition and disposition events (including professional advisory fees, integration costs, and related compensatory matters), restructuring expense, tax on equity award vesting and exercise events, and other non-comparable items. The Company believes that the exclusion of the expense and income items eliminated in calculating Adjusted EBITDA provides management and investors a useful measure for period-to-period comparisons of the Company’s core operating results by excluding items that are not comparable across reporting periods or that do not otherwise relate to the Company’s ongoing operations. Accordingly, the Company believes that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating the Company’s operating results. The following table summarizes the Company’s revenue, loss from continuing operations, Adjusted EBITDA and significant expenses:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousand) | 2025 |  | 2024 |  | 2025 |  | 2024
Service revenue and other | $ | 89,796 |  |  | $ | 87,599 |  |  | $ | 266,262 |  |  | $ | 242,646 |
Significant expenses and other items: |  |  |  |  |  |  |
Cost of services exclusive of depreciation and amortization | 32,384 |  |  | 34,415 |  |  | 98,038 |  |  | 94,941 |
Selling, general and administrative exclusive of stock-based compensation | 27,725 |  |  | 26,622 |  |  | 82,556 |  |  | 78,603 |
Adjusted EBITDA | 29,687 |  |  | 26,562 |  |  | 85,668 |  |  | 69,102 |
Stock-based compensation expense, net of amount capitalized | 2,066 |  |  | 1,384 |  |  | 7,970 |  |  | 7,620 |
Restructuring, integration and acquisition | 293 |  |  | 1,673 |  |  | 1,009 |  |  | 13,616 |
Depreciation and amortization | 34,492 |  |  | 27,681 |  |  | 99,053 |  |  | 70,703 |
Interest expense | 6,789 |  |  | 3,668 |  |  | 17,684 |  |  | 11,740 |
Other 1 | (1,589) |  |  | (998) |  |  | (5,337) |  |  | (4,642) |
Income tax benefit | (2,974) |  |  | (1,542) |  |  | (7,141) |  |  | (7,768) |
Loss from continuing operations | $ | (9,390) |  |  | $ | (5,304) |  |  | $ | (27,570) |  |  | $ | (22,167) |
1 Other primarily includes a gain on escrow settlement, patronage income, interest income, and benefit plan gains.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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