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REVENUE RECOGNITION AND RECEIVABLES (Tables) | 9 Months Ended
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Sep. 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 September 30, 2025 | ​ | Three months ended September 30, 2024
​ | ​ | International | ​ | US | ​ | ​ | ​ | ​ | International | ​ | US | ​ | ​ | ​
​ | ​ | Telecom |  | Telecom |  | Total |  | Telecom |  | Telecom |  | Total
Services transferred over time | ​ | $ | 89,842 | ​ | $ | 70,785 | ​ | $ | 160,627 | ​ | $ | 89,139 | ​ | $ | 69,856 | ​ | $ | 158,995
Goods and services transferred at a point in time | ​ | ​ | 3,735 | ​ | ​ | 2,565 | ​ | ​ | 6,300 | ​ | ​ | 3,591 | ​ | ​ | 2,016 | ​ | ​ | 5,607
Total revenue accounted for under ASC 606 | ​ | $ | 93,577 | ​ | $ | 73,350 | ​ | $ | 166,927 | ​ | $ | 92,730 | ​ | $ | 71,872 | ​ | $ | 164,602
Operating lease income | ​ | ​ | 203 | ​ | ​ | 2,271 | ​ | ​ | 2,474 | ​ | ​ | 157 | ​ | ​ | 1,918 | ​ | ​ | 2,075
Government support revenue (1) | ​ | ​ | 1,363 | ​ | ​ | 12,401 | ​ | ​ | 13,764 | ​ | ​ | 1,394 | ​ | ​ | 10,380 | ​ | ​ | 11,774
Total revenue | ​ | $ | 95,143 | ​ | $ | 88,022 | ​ | $ | 183,165 | ​ | $ | 94,281 | ​ | $ | 84,170 | ​ | $ | 178,451
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Nine months ended September 30, 2025 | ​ | Nine months ended September 30, 2024
​ | ​ | International | ​ | US | ​ | ​ | ​ | ​ | International | ​ | US | ​ | ​ | ​
​ | ​ | Telecom |  | Telecom |  | Total |  | Telecom |  | Telecom |  | Total
Services transferred over time | ​ | $ | 269,554 | ​ | $ | 208,965 | ​ | $ | 478,519 | ​ | $ | 267,970 | ​ | $ | 219,728 | ​ | $ | 487,698
Goods and services transferred at a point in time | ​ | ​ | 10,355 | ​ | ​ | 9,177 | ​ | ​ | 19,532 | ​ | ​ | 10,243 | ​ | ​ | 8,935 | ​ | ​ | 19,178
Total revenue accounted for under ASC 606 | ​ | $ | 279,909 | ​ | $ | 218,142 | ​ | $ | 498,051 | ​ | $ | 278,213 | ​ | $ | 228,663 | ​ | $ | 506,876
Operating lease income | ​ | ​ | 579 | ​ | ​ | 5,926 | ​ | ​ | 6,505 | ​ | ​ | 304 | ​ | ​ | 5,989 | ​ | ​ | 6,293
Government support revenue (1) | ​ | ​ | 4,045 | ​ | ​ | 35,159 | ​ | ​ | 39,204 | ​ | ​ | 4,180 | ​ | ​ | 31,178 | ​ | ​ | 35,358
Total revenue | ​ | $ | 284,533 | ​ | $ | 259,227 | ​ | $ | 543,760 | ​ | $ | 282,697 | ​ | $ | 265,830 | ​ | $ | 548,527
​
| (1) | Revenue recognized from CAF II, USF and RDOF programs (each as defined below). Refer to Note 8.
Summary of contracts asset and liabilities | Contract assets and liabilities consisted of the following (amounts in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | September 30, 2025 | ​ | December 31, 2024 | ​ | ​ | $ Change | ​ | % Change
Contract asset – current | $ | 3,456 | ​ | $ | 3,920 | ​ | $ | (464) | ​ | ​ | (11.8) | %
Contract asset – noncurrent | ​ | 4,933 | ​ | ​ | 5,368 | ​ | ​ | (435) | ​ | ​ | (8.1) | %
Contract liability – current | ​ | (28,226) | ​ | ​ | (28,932) | ​ | ​ | 706 | ​ | ​ | (2.4) | %
Contract liability – noncurrent | ​ | (49,483) | ​ | ​ | (55,116) | ​ | ​ | 5,633 | ​ | ​ | (10.2) | %
Net contract liability | $ | (69,320) | ​ | $ | (74,760) | ​ | $ | 5,440 | ​ | ​ | (7.3) | %
Schedule of activity in allowances for credit losses | Activity in the allowance for credit losses is below (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine months ended
​ |  | September 30, 2025 |  | September 30, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at beginning of period |  | $ | 15,132 | ​ | $ | 16,362
Current period provision for expected losses |  | ​ | 6,495 | ​ | ​ | 4,209
Write-offs charged against the allowance |  | ​ | (7,286) | ​ | ​ | (5,511)
Recoveries collected | ​ | ​ | 940 | ​ | ​ | 255
Balance at end of period | ​ | $ | 15,281 | ​ | $ | 15,315
​

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