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SEGMENT REPORTING | 12 Months Ended
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Dec. 31, 2023
SEGMENT REPORTING |
SEGMENT REPORTING | 14. SEGMENT REPORTING Through December 31, 2023, the Company has the following two reportable and operating segments: i) International Telecom and ii) US Telecom. The following tables provide information for each operating segment (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
For the Year Ended December 31, 2023
​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | International | ​ | US | ​ | Corporate and | ​ | ​ | ​
​ | ​ | Telecom | ​ | Telecom | ​ | Other (1) | ​ | Consolidated
Revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Communication Services | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mobility - Business | ​ | $ | 16,333 | ​ | $ | 527 | ​ | $ | — | ​ | $ | 16,860
Mobility - Consumer | ​ | ​ | 92,153 | ​ | ​ | 3,510 | ​ | ​ | — | ​ | ​ | 95,663
Total Mobility | ​ | ​ | 108,486 | ​ | ​ | 4,037 | ​ | ​ | — | ​ | ​ | 112,523
Fixed - Business | ​ | ​ | 71,215 | ​ | ​ | 143,322 | ​ | ​ | — | ​ | ​ | 214,537
Fixed - Consumer | ​ | ​ | 167,953 | ​ | ​ | 90,283 | ​ | ​ | — | ​ | ​ | 258,236
Total Fixed | ​ | ​ | 239,168 | ​ |  | 233,605 | ​ |  | — | ​ |  | 472,773
Carrier Services | ​ | ​ | 14,686 | ​ | ​ | 128,195 | ​ | ​ | — | ​ | ​ | 142,881
Other | ​ |  | 3,066 | ​ | ​ | 3,839 | ​ | ​ | — | ​ | ​ | 6,905
Total Communication Services Revenue | ​ |  | 365,406 | ​ | ​ | 369,676 | ​ | ​ | — | ​ | ​ | 735,082
Construction | ​ |  | — | ​ | ​ | 10,629 | ​ | ​ | — | ​ | ​ | 10,629
Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Managed Services | ​ | ​ | 5,327 | ​ | ​ | 11,178 | ​ | ​ | — | ​ | ​ | 16,505
Total Other Revenue | ​ | ​ | 5,327 | ​ | ​ | 11,178 | ​ | ​ | — | ​ | ​ | 16,505
Total Revenue | ​ | ​ | 370,733 | ​ | ​ | 391,483 | ​ | ​ | — | ​ | ​ | 762,216
Depreciation | ​ |  | 57,420 | ​ | ​ | 81,594 | ​ | ​ | 2,613 | ​ |  | 141,627
Amortization of intangibles from acquisitions | ​ | ​ | 1,253 | ​ | ​ | 11,383 | ​ | ​ | — | ​ | ​ | 12,636
Non-cash stock-based compensation | ​ |  | 431 | ​ | ​ | 247 | ​ | ​ | 7,857 | ​ |  | 8,535
Operating income (loss) | ​ |  | 53,420 | ​ | ​ | (5,522) | ​ | ​ | (34,723) | ​ |  | 13,175
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
For the Year Ended December 31, 2022
​ |  | ​ | ​ |  | ​ |  | ​ | ​ | ​ | ​ | ​
​ | ​ | International | ​ | US | ​ | Corporate and | ​ | ​ | ​
​ | ​ | Telecom | ​ | Telecom | ​ | Other (1) | ​ | Consolidated
Revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Communication Services | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mobility - Business | ​ | $ | 14,830 | ​ | $ | 1,228 | ​ | $ | — | ​ | $ | 16,058
Mobility - Consumer | ​ | ​ | 87,601 | ​ | ​ | 6,359 | ​ | ​ | — | ​ | ​ | 93,960
Total Mobility | ​ | ​ | 102,431 | ​ | ​ | 7,587 | ​ | ​ | — | ​ | ​ | 110,018
Fixed - Business | ​ | ​ | 69,903 | ​ | ​ | 126,735 | ​ | ​ | — | ​ | ​ | 196,638
Fixed - Consumer | ​ | ​ | 163,408 | ​ | ​ | 78,338 | ​ | ​ | — | ​ | ​ | 241,746
Total Fixed | ​ | ​ | 233,311 | ​ |  | 205,073 | ​ |  | — | ​ |  | 438,384
Carrier Services | ​ | ​ | 13,459 | ​ | ​ | 128,864 | ​ | ​ | — | ​ | ​ | 142,323
Other | ​ |  | 1,450 | ​ | ​ | 46 | ​ | ​ | — | ​ | ​ | 1,496
Total Communication Services Revenue | ​ |  | 350,651 | ​ | ​ | 341,570 | ​ | ​ | — | ​ | ​ | 692,221
Construction | ​ | ​ | — | ​ | ​ | 15,762 | ​ | ​ | — | ​ | ​ | 15,762
Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Managed Services | ​ | ​ | 4,930 | ​ | ​ | 12,832 | ​ | ​ | — | ​ | ​ | 17,762
Total other revenue | ​ | ​ | 4,930 | ​ | ​ | 12,832 | ​ | ​ | — | ​ | ​ | 17,762
Total Revenue | ​ | ​ | 355,581 | ​ | ​ | 370,164 | ​ | ​ | — | ​ | ​ | 725,745
Depreciation and amortization | ​ |  | 56,568 | ​ | ​ | 75,020 | ​ | ​ | 3,549 | ​ |  | 135,137
Amortization of intangibles from acquisitions | ​ | ​ | 1,572 | ​ | ​ | 11,444 | ​ | ​ | — | ​ | ​ | 13,016
Non-cash stock-based compensation | ​ |  | 240 | ​ | ​ | 387 | ​ | ​ | 6,779 | ​ |  | 7,406
Operating income (loss) | ​ |  | 52,011 | ​ | ​ | (5,655) | ​ | ​ | (38,414) | ​ |  | 7,942
​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
For the Year Ended December 31, 2021
​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | International | ​ | US | ​ | Corporate and | ​ | ​ | ​
​ | ​ | Telecom | ​ | Telecom | ​ | Other (1) | ​ | Consolidated
Revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Communication Services | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mobility - Business | ​ | $ | 6,983 | ​ | $ | 1,402 | ​ | $ | — | ​ | $ | 8,385
Mobility - Consumer | ​ | ​ | 86,384 | ​ | ​ | 7,532 | ​ | ​ | — | ​ | ​ | 93,916
Total Mobility | ​ | ​ | 93,367 | ​ | ​ | 8,934 | ​ | ​ | — | ​ | ​ | 102,301
Fixed - Business | ​ | ​ | 67,458 | ​ | ​ | 53,283 | ​ | ​ | — | ​ | ​ | 120,741
Fixed - Consumer | ​ | ​ | 166,005 | ​ | ​ | 41,897 | ​ | ​ | — | ​ | ​ | 207,902
Total Fixed | ​ | ​ | 233,463 | ​ |  | 95,180 | ​ |  | — | ​ |  | 328,643
Carrier Services | ​ | ​ | 9,937 | ​ | ​ | 107,793 | ​ | ​ | — | ​ | ​ | 117,730
Other | ​ |  | 946 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 946
Total Communication Services Revenue | ​ |  | 337,713 | ​ | ​ | 211,907 | ​ | ​ | — | ​ | ​ | 549,620
Construction | ​ |  | — | ​ | ​ | 35,889 | ​ | ​ | — | ​ | ​ | 35,889
Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Renewable Energy | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 417 | ​ | ​ | 417
Managed Services | ​ | ​ | 5,146 | ​ | ​ | 11,635 | ​ | ​ | — | ​ | ​ | 16,781
Total Other Revenue | ​ | ​ | 5,146 | ​ | ​ | 11,635 | ​ | ​ | 417 | ​ | ​ | 17,198
Total Revenue | ​ | ​ | 342,859 | ​ | ​ | 259,431 | ​ | ​ | 417 | ​ | ​ | 602,707
Depreciation | ​ |  | 53,858 | ​ | ​ | 43,604 | ​ | ​ | 5,269 | ​ |  | 102,731
Amortization of intangibles from acquisitions | ​ | ​ | 1,648 | ​ | ​ | 6,127 | ​ | ​ | — | ​ | ​ | 7,775
Non-cash stock-based compensation | ​ |  | 128 | ​ | ​ | 271 | ​ | ​ | 6,182 | ​ |  | 6,581
Operating income (loss) | ​ |  | 33,899 | ​ | ​ | (14,016) | ​ | ​ | (34,909) | ​ |  | (15,026)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | International | ​ | US | ​ | Corporate and | ​ | ​ | ​
​ | ​ | Telecom | ​ | Telecom | ​ | Other | ​ | Consolidated
December 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash, cash equivalents, and restricted cash | ​ | $ | 26,354 | ​ | $ | 33,574 | ​ | $ | 2,239 | ​ | $ | 62,167
Total current assets | ​ | ​ | 107,469 | ​ | ​ | 162,768 | ​ | ​ | 11,035 | ​ | ​ | 281,272
Fixed assets, net | ​ | ​ | 481,911 | ​ | ​ | 593,833 | ​ | ​ | 4,915 | ​ | ​ | 1,080,659
Goodwill | ​ |  | 4,836 | ​ |  | 35,268 | ​ |  | — | ​ | ​ | 40,104
Total assets | ​ |  | 672,171 | ​ |  | 1,019,924 | ​ |  | 91,619 | ​ | ​ | 1,783,714
Total current liabilities | ​ | ​ | 86,540 | ​ | ​ | 169,297 | ​ | ​ | 37,357 | ​ | ​ | 293,194
Total debt, including current portion | ​ | ​ | 64,254 | ​ | ​ | 293,607 | ​ | ​ | 159,009 | ​ | ​ | 516,870
December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash, cash equivalents, and restricted cash | ​ | $ | 26,418 | ​ | $ | 26,375 | ​ | $ | 6,935 | ​ | $ | 59,728
Total current assets | ​ | ​ | 105,324 | ​ | ​ | 116,038 | ​ | ​ | 8,326 | ​ | ​ | 229,688
Fixed assets, net | ​ | ​ | 462,447 | ​ | ​ | 585,969 | ​ | ​ | 7,538 | ​ | ​ | 1,055,954
Goodwill | ​ |  | 4,835 | ​ |  | 35,269 | ​ |  | — | ​ | ​ | 40,104
Total assets | ​ |  | 643,664 | ​ |  | 980,543 | ​ |  | 83,662 | ​ | ​ | 1,707,869
Total current liabilities | ​ | ​ | 86,738 | ​ | ​ | 119,755 | ​ | ​ | 26,687 | ​ | ​ | 233,180
Total debt, including current portion | ​ | ​ | 59,659 | ​ | ​ | 263,241 | ​ | ​ | 99,000 | ​ | ​ | 421,900
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Capital Expenditures
​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
​ | ​ | ​ | International | ​ | ​ | US | ​ | ​ | Corporate and | ​ | ​ | ​
Year ended December 31, | ​ | ​ | Telecom | ​ | ​ | Telecom | ​ | ​ | Other (1) | ​ | ​ | Consolidated
2023 | ​ | $ | 76,379 | ​ | $ | 119,789 | ​ | $ | — | ​ | $ | 196,168
2022 | ​ | ​ | 70,385 | ​ | ​ | 96,589 | ​ | ​ | 1,045 | ​ | ​ | 168,019
(1) | Corporate and other refers to corporate overhead expenses and consolidating adjustments. See Note 5 for a discussion of the Company’s disposition of its International Solar Business.
The table below identifies the Company’s revenues and long-lived assets by geographic location. The Company attributes revenue to geographic location based on location of the customer (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
​ | ​ | ​ | ​ | Long-Lived | ​ | ​ | ​ | Long-Lived | ​ | ​ | ​ | Long-Lived
​ | ​ | Revenues | ​ | Assets | ​ | Revenues | ​ | Assets | ​ | Revenues | ​ | Assets
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
US | ​ | $ | 391,870 | ​ | $ | 938,650 | ​ | $ | 370,204 | ​ | $ | 927,177 | ​ | $ | 259,430 | ​ | $ | 840,251
Guyana | ​ |  | 119,915 | ​ |  | 195,030 | ​ |  | 113,816 | ​ |  | 174,719 | ​ |  | 108,338 | ​ |  | 152,627
US Virgin Islands | ​ | ​ | 95,129 | ​ | ​ | 213,553 | ​ | ​ | 93,264 | ​ | ​ | 209,101 | ​ | ​ | 94,310 | ​ | ​ | 210,448
Bermuda | ​ |  | 114,096 | ​ |  | 102,227 | ​ |  | 110,337 | ​ |  | 100,125 | ​ |  | 104,671 | ​ |  | 107,885
Other Foreign Countries | ​ | ​ | 41,206 | ​ | ​ | 52,982 | ​ | ​ | 38,124 | ​ | ​ | 67,058 | ​ | ​ | 35,958 | ​ | ​ | 64,775
​ | ​ | $ | 762,216 | ​ | $ | 1,502,442 | ​ | $ | 725,745 | ​ | $ | 1,478,180 | ​ | $ | 602,707 | ​ | $ | 1,375,986
​

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