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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Net Revenues $ 339,337 $ 321,142 $ 304,337
Cost of revenues (note 11)      
Cost of revenues 202,256 196,268 193,039
Network expenses 28,222 17,433 14,769
Network, depreciation of property and equipment (note 4) 35,864 27,589 17,452
Network, amortization of intangible assets (note 5) 1,506 1,512 583
Impairment of property and equipment (note 4) 4,822 92 201
Total cost of revenues 272,670 242,894 226,044
Gross profit 66,667 78,248 78,293
Expenses:      
Sales and marketing 67,806 53,937 39,471
Technical operations and development 19,217 14,187 14,310
General and administrative 33,406 30,845 22,370
Depreciation of property and equipment (note 4) 567 598 534
Loss (gain) on disposition of property and equipment 0 461 234
Amortization of intangible assets (note 5) 9,323 9,882 9,424
Gain on currency forward contracts (note 7) 0 0 (277)
Total expenses 130,319 109,910 86,066
Income from operations (63,652) (31,662) (7,773)
Other income (expenses):      
Interest income (expense) (41,771) (14,456) (4,617)
Loss on debt extinguishment (note 14) (14,680) 0 0
Income earned on sale of transferred assets, net (note 18) 17,033 18,507 20,030
Other expense, net 0 (177) (370)
Total other income (expenses) (39,418) 3,874 15,043
Income before provision for income taxes (103,070) (27,788) 7,270
Provision for income taxes (6,873) (217) 3,906
Net income (loss) (96,197) (27,571) 3,364
Other comprehensive income, net of tax      
Unrealized income (loss) on hedging activities (note 7) 1,830 418 572
Net amount reclassified to earnings (note 7) (886) 23 (2,565)
Other comprehensive income (loss) net of tax expense (recovery) of $299, $141 and ($595) for the years ended December 31, 2023, 2022 and 2021 (note 7) 944 441 (1,993)
Comprehensive income (loss), net of tax for the period $ (95,253) $ (27,130) $ 1,371
Basic earnings (loss) per common share (note 19) (in dollars per share) $ (8.85) $ (2.56) $ 0.32
Shares used in computing basic earnings per common share (note 19) (in shares) 10,864,086 10,769,280 10,662,337
Diluted earnings per common share (note 19) (in dollars per share) $ (8.85) $ (2.56) $ 0.31
Shares used in computing diluted earnings per common share (note 19) (in shares) 10,864,086 10,769,280 10,817,468