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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Net Revenues $ 98,463 $ 89,423 $ 193,072 $ 176,880
Cost of revenues        
Direct cost of revenues 59,069 51,328 114,230 103,122
Network, other costs 6,458 6,862 11,633 13,979
Network, depreciation and amortization 10,826 10,423 21,568 20,653
Total cost of revenues 76,353 68,613 147,431 137,754
Gross profit 22,110 20,810 45,641 39,126
Expenses:        
Sales and marketing 11,945 14,746 22,936 33,311
Technical operations and development 4,344 4,522 8,751 9,538
General and administrative 9,660 9,188 18,902 19,006
Gain on disposition of property and equipment (1,788) 0 (1,788) 0
Depreciation and amortization 828 951 1,752 2,387
Total expenses 24,989 29,407 50,553 64,242
Loss from operations (2,879) (8,597) (4,912) (25,116)
Other income (expenses):        
Interest expense, net (13,621) (12,553) (27,234) (24,432)
Other income, net 3,128 3,766 5,807 7,454
Total other income (expenses) (10,493) (8,787) (21,427) (16,978)
Net loss before tax (13,372) (17,384) (26,339) (42,094)
Provision (recovery) for income taxes 2,265 1,220 4,431 2,994
Net loss for the period (15,637) (18,604) (30,770) (45,088)
Other comprehensive income (loss), net of tax        
Unrealized income (loss) on hedging activities 635 (304) 677 (1,430)
Net amount reclassified to earnings 91 0 649 (169)
Other comprehensive income (loss) net of tax expense (recovery) of $231 and ($97) for the three months ended June 30, 2025 and June 30, 2024, and $427 and ($510) for the six months ended June 30, 2025 and June 30, 2024. 726 (304) 1,326 (1,599)
Comprehensive loss, for the period $ (14,911) $ (18,908) $ (29,444) $ (46,687)
Basic and diluted loss per common share (in dollars per share) $ (1.41) $ (1.7) $ (2.79) $ (4.12)
Shares used in computing basic and diluted loss per common share (in shares) 11,060,818 10,954,596 11,046,531 10,939,098