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SEGMENT REPORTING | 3 Months Ended
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Mar. 31, 2024
SEGMENT REPORTING |
SEGMENT REPORTING | 12. SEGMENT REPORTING 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 Three Months Ended March 31, 2024
​ |  | ​ | ​ |  | ​ |  | ​ | ​ | ​ | ​ | ​
​ | ​ | International | ​ | US | ​ | Corporate and | ​ | ​ | ​
​ | ​ | Telecom | ​ | Telecom | ​ | Other (1) | ​ | Consolidated
Revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Communication Services | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mobility - Business | ​ | $ | 4,808 | ​ | $ | 74 | ​ | $ | — | ​ | $ | 4,882
Mobility - Consumer | ​ | ​ | 21,229 | ​ | ​ | 764 | ​ | ​ | — | ​ | ​ | 21,993
Total Mobility | ​ | ​ | 26,037 | ​ | ​ | 838 | ​ | ​ | — | ​ | ​ | 26,875
Fixed - Business | ​ | ​ | 18,532 | ​ | ​ | 34,965 | ​ | ​ | — | ​ | ​ | 53,497
Fixed - Consumer | ​ | ​ | 42,789 | ​ | ​ | 22,919 | ​ | ​ | — | ​ | ​ | 65,708
Total Fixed | ​ | ​ | 61,321 | ​ |  | 57,884 | ​ |  | — | ​ |  | 119,205
Carrier Services | ​ | ​ | 3,574 | ​ | ​ | 30,052 | ​ | ​ | — | ​ | ​ | 33,626
Other | ​ |  | 818 | ​ | ​ | 744 | ​ | ​ | — | ​ | ​ | 1,562
Total Communication Services Revenue | ​ |  | 91,750 | ​ | ​ | 89,518 | ​ | ​ | — | ​ | ​ | 181,268
Construction | ​ | ​ | — | ​ | ​ | 1,586 | ​ | ​ | — | ​ | ​ | 1,586
Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Managed Services | ​ | ​ | 1,309 | ​ | ​ | 2,631 | ​ | ​ | — | ​ | ​ | 3,940
Total other revenue | ​ | ​ | 1,309 | ​ | ​ | 2,631 | ​ | ​ | — | ​ | ​ | 3,940
Total Revenue | ​ | ​ | 93,059 | ​ | ​ | 93,735 | ​ | ​ | — | ​ | ​ | 186,794
Depreciation and amortization | ​ |  | 16,124 | ​ |  | 18,138 | ​ |  | 78 | ​ |  | 34,340
Amortization of intangibles from acquisitions | ​ | ​ | 251 | ​ | ​ | 1,729 | ​ | ​ | — | ​ | ​ | 1,980
Non-cash stock-based compensation | ​ |  | 23 | ​ |  | 132 | ​ |  | 1,754 | ​ |  | 1,909
Operating income (loss) | ​ |  | 11,685 | ​ |  | 597 | ​ |  | (7,708) | ​ |  | 4,574
​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
For the Three Months Ended March 31, 2023
​ |  | ​ | ​ |  |  |  | ​ | ​ |  | ​ | ​
​ | ​ | International | ​ | US | ​ | Corporate and | ​ | ​ | ​
​ | ​ | Telecom | ​ | Telecom | ​ | Other (1) | ​ | Consolidated
Revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Communication Services | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mobility - Business | ​ | $ | 3,575 | ​ | $ | 172 | ​ | $ | — | ​ | $ | 3,747
Mobility - Consumer | ​ | ​ | 22,532 | ​ | ​ | 987 | ​ | ​ | — | ​ | ​ | 23,519
Total Mobility | ​ | ​ | 26,107 | ​ | ​ | 1,159 | ​ | ​ | — | ​ | ​ | 27,266
Fixed - Business | ​ | ​ | 17,113 | ​ | ​ | 36,320 | ​ | ​ | — | ​ | ​ | 53,433
Fixed - Consumer | ​ | ​ | 41,778 | ​ | ​ | 22,582 | ​ | ​ | — | ​ | ​ | 64,360
Total Fixed | ​ | ​ | 58,891 | ​ | ​ | 58,902 | ​ | ​ | — | ​ | ​ | 117,793
Carrier Services | ​ | ​ | 3,690 | ​ | ​ | 32,084 | ​ | ​ | — | ​ | ​ | 35,774
Other | ​ |  | 400 | ​ | ​ | 75 | ​ | ​ | — | ​ | ​ | 475
Total Communication Services Revenue | ​ |  | 89,088 | ​ | ​ | 92,220 | ​ | ​ | — | ​ | ​ | 181,308
Construction | ​ | ​ | — | ​ | ​ | 590 | ​ | ​ | — | ​ | ​ | 590
Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Managed Services | ​ | ​ | 1,320 | ​ | ​ | 2,556 | ​ | ​ | — | ​ | ​ | 3,876
Total Other Revenue | ​ | ​ | 1,320 | ​ | ​ | 2,556 | ​ | ​ | — | ​ | ​ | 3,876
Total Revenue | ​ | ​ | 90,408 | ​ | ​ | 95,366 | ​ | ​ | — | ​ | ​ | 185,774
Depreciation | ​ |  | 14,186 | ​ | ​ | 21,487 | ​ | ​ | 731 | ​ |  | 36,404
Amortization of intangibles from acquisitions | ​ | ​ | 380 | ​ | ​ | 2,867 | ​ | ​ | — | ​ | ​ | 3,247
Non-cash stock-based compensation | ​ |  | 67 | ​ | ​ | 77 | ​ | ​ | 1,634 | ​ |  | 1,778
Operating income (loss) | ​ |  | 13,825 | ​ | ​ | (4,342) | ​ | ​ | (8,847) | ​ |  | 636
​ ​ Selected balance sheet data for each of the Company’s segments as of March 31, 2024 and December 31, 2023 consists of the following (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | International | ​ | US | ​ | Corporate and | ​ | ​ | ​
​ | ​ | Telecom | ​ | Telecom | ​ | Other | ​ | Consolidated
March 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash, cash equivalents, and restricted cash | ​ | $ | 35,369 | ​ | $ | 32,288 | ​ | $ | 1,561 | ​ | $ | 69,218
Total current assets | ​ | ​ | 121,262 | ​ | ​ | 157,318 | ​ | ​ | 11,147 | ​ | ​ | 289,727
Fixed assets, net | ​ | ​ | 479,325 | ​ | ​ | 585,979 | ​ | ​ | 6,178 | ​ | ​ | 1,071,482
Goodwill | ​ |  | 4,835 | ​ |  | 35,269 | ​ |  | — | ​ | ​ | 40,104
Total assets | ​ |  | 679,591 | ​ |  | 1,006,960 | ​ |  | 92,603 | ​ | ​ | 1,779,154
Total current liabilities | ​ | ​ | 87,986 | ​ | ​ | 155,274 | ​ | ​ | 30,357 | ​ | ​ | 273,617
Total debt, including current portion | ​ | ​ | 59,776 | ​ | ​ | 295,996 | ​ | ​ | 185,519 | ​ | ​ | 541,291
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
​ For the three months ended March 31, 2024 and 2023, the Company spent $49.5 million and $52.7 million, respectively, on capital expenditures relating to its telecommunications networks and business support systems of which $13.5 million and $2.1 million, respectively, are reimbursable under various government programs. The following notes the Company’s capital expenditures, by operating segment, for these periods (in thousands). ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Capital Expenditures
​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
​ | ​ | ​ | International | ​ | ​ | US | ​ | ​ | Corporate and | ​ | ​ | ​
Three months ended March 31, | ​ | ​ | Telecom | ​ | ​ | Telecom | ​ | ​ | Other (1) | ​ | ​ | Consolidated
2024 | ​ | $ | 16,915 | ​ | $ | 31,233 | ​ | $ | 1,341 | ​ | $ | 49,489
2023 | ​ | ​ | 21,464 | ​ | ​ | 31,261 | ​ | ​ | — | ​ | ​ | 52,725
​
| (1) | Corporate and other items refer to corporate overhead costs and consolidating adjustments

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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 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: 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 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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