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GOVERNMENT SUPPORT AND SPECTRUM MATTERS (Tables)

9 Months Ended

Sep. 30, 2025

GOVERNMENT SUPPORT AND SPECTRUM MATTERS

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.

Network Connectivity for Eligible Communities

GOVERNMENT SUPPORT AND SPECTRUM MATTERS

Schedule of grant funds

of grants under this program which are presented below in Transferred and rescinded grants. The Company is currently reviewing funding available under the BEAD grant program. A roll forward of the Company’s grant awards is set forth below (in thousands).


	Amount
Grants awarded, December 31, 2024	$	150,189
New grants		16,097
Construction complete		(10,294)
Transferred and rescinded grants		(52,487)
Grants awarded, September 30, 2025	$	103,505

Remove And Replace Program

GOVERNMENT SUPPORT AND SPECTRUM MATTERS

Schedule of grant funds

A summary of the amounts spent and reimbursed under the Replace and Remove Program is below (in thousands):


	Capital			Operating			Total

Total spend, December 31, 2024	$	140,949		$	27,446		$	168,395
Amounts spent		36,445			8,864			45,309
Total spend, September 30, 2025	$	177,394		$	36,310		$	213,704

Total reimbursements, December 31, 2024	$	(103,540)		$	(27,181)		$	(130,721)
Reimbursements received		(48,555)			(9,129)			(57,684)
Total reimbursements, September 30, 2025	$	(152,095)		$	(36,310)		$	(188,405)

Amount pending reimbursement	$	25,299		$	-		$	25,299


	Capital			Operating			Total

Total spend, December 31, 2023	$	49,262		$	15,126		$	64,388
Amounts spent		66,501			9,049			75,550
Total spend, September 30, 2024	$	115,763		$	24,175		$	139,938

Total reimbursements, December 31, 2023	$	(12,773)		$	(4,354)		$	(17,127)
Reimbursements received		(68,450)			(18,739)			(87,189)
Total reimbursements, September 30, 2024	$	(81,223)		$	(23,093)		$	(104,316)

Amount pending reimbursement	$	34,540		$	1,082		$	35,622

Communication services

GOVERNMENT SUPPORT AND SPECTRUM MATTERS

Summary of revenues

The Company recorded the amounts below as communication services revenue for the reported periods (in thousands):


	Three months ended									Three months ended
	September 30, 2025									September 30, 2024

	US Telecom			International Telecom			Total			US Telecom			International Telecom			Total

High cost support	$	4,073		$	1,363		$	5,436		$	3,473		$	1,394		$	4,867
CAF II (including ACF)		8,254			—			8,254			6,731			—			6,731
RDOF		75			—			75			175			—			175
ECF		—			—			—			—			—			—
RHC		3,790			—			3,790			4,420			—			4,420
Other		1,332			3			1,335			1,908			3			1,911
Total	$	17,524		$	1,366		$	18,890		$	16,707		$	1,397		$	18,104


	Nine months ended									Nine months ended
	September 30, 2025									September 30, 2024

	US Telecom			International Telecom			Total			US Telecom			International Telecom			Total

High cost support	$	10,289		$	4,046		$	14,335		$	10,411		$	4,180		$	14,591
CAF II (including ACF)		24,650			—			24,650			20,303			—			20,303
RDOF		219			—			219			465			—			465
ECF		—			—			—			7,312			—			7,312
RHC		12,505			—			12,505			11,539			—			11,539
Other		4,536			12			4,548			10,316			473			10,789
Total	$	52,199		$	4,058		$	56,257		$	60,346		$	4,653		$	64,999

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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