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GOODWILL
9 Months Ended
Sep. 30, 2025
GOODWILL  
GOODWILL

10. GOODWILL

During the quarter ended September 30, 2024, the Company completed an impairment assessment for its US Telecom segment after identifying events that indicate that the fair value of a reporting unit may be below its carrying value. These events included, the Company’s continued shift away from wholesale roaming and retail operations towards carrier managed services and fixed broadband services, delays in completing significant network upgrade projects, the conclusion of certain government subsidy programs leading to slower consumer growth, and delays in enterprise sales and delivery. The combination of these events led to the reporting unit being unable to meet key financial and operational forecasted targets.

As a result of that analysis, the Company recorded an impairment of $35.3 million during the three months ended September 30, 2024. The table below discloses goodwill recorded in each of the Company’s segments and accumulated impairment changes (in thousands):

International

US

Telecom

Telecom

Consolidated

Balance at December 31, 2024 and September 30, 2025

Goodwill

25,422

35,269

60,691

Accumulated Impairment

(20,587)

(35,269)

(55,856)

Goodwill, net of accumulated impairment

$

4,835

$

$

4,835