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REVENUE RECOGNITION AND RECEIVABLES (Tables)

6 Months Ended

Jun. 30, 2025

REVENUE RECOGNITION AND RECEIVABLES

Summary of revenues

Revenue recognized consisted of the following for the periods presented below (in thousands):


	Three months ended June 30, 2025									Three months ended June 30, 2024
	International			US						International			US
	Telecom			Telecom			Total			Telecom			Telecom			Total
Services transferred over time	$	90,196		$	69,474		$	159,670		$	90,271		$	71,829		$	162,100
Goods and services transferred at a point in time		3,108			3,706			6,814			3,618			3,648			7,266
Total revenue accounted for under ASC 606	$	93,304		$	73,180		$	166,484		$	93,889		$	75,477		$	169,366
Operating lease income		221			1,827			2,048			75			2,036			2,111
Government support revenue (1)		1,370			11,398			12,768			1,393			10,411			11,804
Total revenue	$	94,895		$	86,405		$	181,300		$	95,357		$	87,924		$	183,281


	Six months ended June 30, 2025									Six months ended June 30, 2024
	International			US						International			US
	Telecom			Telecom			Total			Telecom			Telecom			Total
Services transferred over time	$	179,712		$	138,179		$	317,891		$	178,831		$	149,872		$	328,703
Goods and services transferred at a point in time		6,620			6,612			13,232			6,652			6,919			13,571
Total revenue accounted for under ASC 606	$	186,332		$	144,791		$	331,123		$	185,483		$	156,791		$	342,274
Operating lease income		376			3,655			4,031			147			4,070			4,217
Government support revenue (1)		2,682			22,758			25,440			2,786			20,799			23,585
Total revenue	$	189,390		$	171,204		$	360,594		$	188,416		$	181,660		$	370,076

(1)

Revenue recognized from CAF II, USF and RDOF programs. Refer to Note 8.

Summary of contracts asset and liabilities

Contract assets and liabilities consisted of the following (amounts in thousands):


	June 30, 2025			December 31, 2024				$ Change		% Change
Contract asset – current	$	3,526		$	3,920		$	(394)			(10.1)	%
Contract asset – noncurrent		4,701			5,368			(667)			(12.4)	%
Contract liability – current		(30,917)			(28,932)			(1,985)			6.9	%
Contract liability – noncurrent		(51,393)			(55,116)			3,723			(6.8)	%
Net contract liability	$	(74,083)		$	(74,760)		$	677			(0.9)	%

Schedule of activity in allowances for credit losses

Activity in the allowance for credit losses is below (in thousands):


		Six months ended
		June 30, 2025			June 30, 2024

Balance at beginning of period		$	15,132		$	16,362
Current period provision for expected losses			4,135			2,855
Write-offs charged against the allowance			(5,326)			(2,918)
Recoveries collected			147			133
Balance at end of period		$	14,088		$	16,432