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REVENUE RECOGNITION AND RECEIVABLES (Tables)

9 Months Ended

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