SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2026

SEGMENT REPORTING

Schedule of information for each operating segment

The following tables provide information for each operating segment (in thousands):


For the Three Months Ended June 30, 2026

		International			US
		Telecom			Telecom			Total
Revenue
Communication Services
Mobility - Business		$	5,161		$	—		$	5,161
Mobility - Consumer			21,977			—			21,977
Total Mobility			27,138			—			27,138
Fixed - Business			18,896			30,210			49,106
Fixed - Consumer			41,623			22,154			63,777
Total Fixed			60,519			52,364			112,883
Carrier Services			3,549			32,793			36,342
Other			3,621			157			3,778
Total Communication Services Revenue			94,827			85,314			180,141
Construction			—			779			779
Other
Managed Services			1,369			2,215			3,584
Total other revenue			1,369			2,215			3,584
Total Revenue			96,196			88,308			184,504

Operating Expenses by segment
Cost of communication services and other			32,972			45,478			78,450
Cost of construction revenue			—			990			990
Selling, general and administrative			27,737			22,753			50,490
Stock-based compensation			126			—			126
Transaction-related charges			—			8,117			8,117
Restructuring and reorganization expenses			264			580			844
Depreciation and amortization			13,991			15,843			29,834
Amortization of intangibles from acquisitions			239			254			493
Gain on disposition of assets, transfers and contingent consideration			(1,051)			(229,898)			(230,949)
Total Operating Expenses by segment			74,278			(135,883)			(61,605)
Adjusted Income (loss) from operations by segment			21,918			224,191			246,109
Reconciliation of Adjusted Income (loss) from operations by segment to Income before income taxes
Adjusted unallocated Corporate expenses									6,377
Other income (expenses)
Interest income									501
Interest expense									(10,869)
Other expense									(747)
Other expense									(11,115)
Income before income taxes									228,617

Other segment disclosures:
		International			US
		Telecom			Telecom			Total
Net (income) loss attributable to non-controlling interests			(3,144)			(16,093)			(19,237)


For the Three Months Ended June 30, 2025

		International			US
		Telecom			Telecom			Total
Revenue
Communication Services
Mobility - Business		$	4,857		$	8		$	4,865
Mobility - Consumer			21,466			—			21,466
Total Mobility			26,323			8			26,331
Fixed - Business			18,416			28,854			47,270
Fixed - Consumer			43,333			22,505			65,838
Total Fixed			61,749			51,359			113,108
Carrier Services			3,423			29,806			33,229
Other			2,088			118			2,206
Total Communication Services Revenue			93,583			81,291			174,874
Construction			—			2,216			2,216
Other
Managed Services			1,311			2,899			4,210
Total Other Revenue			1,311			2,899			4,210
Total Revenue			94,894			86,406			181,300

Operating Expenses by segment
Cost of communication services and other			33,755			43,410			77,165
Cost of construction revenue			—			2,183			2,183
Selling, general and administrative			27,865			22,551			50,416
Stock-based compensation			141			50			191
Transaction-related charges			—			—			—
Restructuring and reorganization expenses			1,385			2,357			3,742
Depreciation and amortization			15,154			17,850			33,004
Amortization of intangibles from acquisitions			251			975			1,226
Loss on disposition of assets, transfers and contingent consideration			122			2,563			2,685
Total Operating Expenses by segment			78,673			91,939			170,612
Adjusted Income (loss) from operations by segment			16,221			(5,533)			10,688
Reconciliation of Adjusted Income (loss) from operations by segment to Loss before income taxes
Adjusted unallocated Corporate expenses									10,455
Other income (expenses)
Interest income									132
Interest expense									(12,810)
Other expense									(591)
Other expense									(13,269)
Loss before income taxes									(13,036)

Other segment disclosures:
		International			US
		Telecom			Telecom			Total

Net (income) loss attributable to non-controlling interests			(2,307)			4,541			2,234


For the Six Months Ended June 30, 2026

		International			US
		Telecom			Telecom			Total
Revenue
Communication Services
Mobility - Business		$	10,337		$	—		$	10,337
Mobility - Consumer			43,160			—			43,160
Total Mobility			53,497			—			53,497
Fixed - Business			37,642			60,137			97,779
Fixed - Consumer			83,463			44,308			127,771
Total Fixed			121,105			104,445			225,550
Carrier Services			7,747			64,682			72,429
Other			6,815			308			7,123
Total Communication Services Revenue			189,164			169,435			358,599
Construction			—			779			779
Other
Managed Services			3,090			4,254			7,344
Total Other Revenue			3,090			4,254			7,344
Total Revenue			192,254			174,468			366,722

Operating Expenses
Cost of communication services and other			66,601			89,275			155,876
Cost of construction revenue			—			990			990
Selling, general and administrative			55,879			45,625			101,504
Stock-based compensation			253			28			281
Transaction-related charges			—			8,134			8,134
Restructuring and reorganization expenses			1,009			771			1,780
Depreciation and amortization			27,565			32,701			60,266
Amortization of intangibles from acquisitions			481			509			990
Gain on disposition of assets, transfers and contingent consideration			(673)			(229,494)			(230,167)
Total Operating Expenses			151,115			(51,461)			99,654
Adjusted Income (loss) from operations by segment			41,139			225,929			267,068
Reconciliation of Adjusted Income (loss) from operations by segment to Income before income taxes
Adjusted unallocated Corporate expenses									15,648
Other income (expenses)
Interest income									633
Interest expense									(21,345)
Other expense									(3,979)
Other expense									(24,691)
Income before income taxes									226,729

Other segment disclosures:
		International			US
		Telecom			Telecom			Total
Net (income) loss attributable to non-controlling interests			(5,750)			(12,810)			(18,560)


For the Six Months Ended June 30, 2025

		International			US
		Telecom			Telecom			Total
Revenue
Communication Services
Mobility - Business		$	9,706		$	46		$	9,752
Mobility - Consumer			42,657			-			42,657
Total Mobility			52,363			46			52,409
Fixed - Business			36,909			58,099			95,008
Fixed - Consumer			86,206			44,920			131,126
Total Fixed			123,115			103,019			226,134
Carrier Services			7,326			59,033			66,359
Other			3,829			174			4,003
Total Communication Services Revenue			186,633			162,272			348,905
Construction			—			3,262			3,262
Other
Managed Services			2,757			5,670			8,427
Total other revenue			2,757			5,670			8,427
Total Revenue			189,390			171,204			360,594

Operating Expenses
Cost of communication services and other			68,717			86,672			155,389
Cost of construction revenue			—			3,684			3,684
Selling, general and administrative			55,008			45,074			100,082
Stock-based compensation			357			127			484
Transaction-related charges			—			—			—
Restructuring and reorganization expenses			2,891			2,491			5,382
Depreciation and amortization			30,531			36,134			66,665
Amortization of intangibles from acquisitions			503			1,949			2,452
Loss on disposition of assets, transfers and contingent consideration			413			3,021			3,434
Total Operating Expenses			158,420			179,152			337,572
Adjusted Income (loss) from operations by segment			30,970			(7,948)			23,022
Reconciliation of Adjusted Income (loss) from operations by segment to Loss before income taxes
Adjusted unallocated Corporate expenses									20,122
Other income (expenses)
Interest income									404
Interest expense									(24,760)
Other expense									(3,158)
Other expense									(27,514)
Loss before income taxes									(24,614)

Other segment disclosures:
		International			US
		Telecom			Telecom			Total
Net (income) loss attributable to non-controlling interests			(3,781)			8,474			4,693

Schedule of selected balance sheet data for each segment

Selected balance sheet data for each of the Company’s segments as of June 30, 2026 and December 31, 2025 consists of the following (in thousands):


		International			US			Corporate and
		Telecom			Telecom			Other (1)			Consolidated
June 30, 2026
Cash, cash equivalents, and restricted cash		$	100,371		$	222,062		$	9,467		$	331,900
Total current assets			191,366			323,747			27,174			542,287
Fixed assets, net			442,009			503,870			1,334			947,213
Goodwill			4,835			—			—			4,835
Total assets			711,981			1,076,105			91,932			1,880,018
Total current liabilities			104,747			139,361			88,714			332,822
Total debt, including current portion			63,909			333,698			115,706			513,313
December 31, 2025
Cash, cash equivalents, and restricted cash		$	79,165		$	35,915		$	2,074		$	117,154
Total current assets			165,341			141,592			20,943			327,876
Fixed assets, net			451,303			533,443			7,021			991,767
Goodwill			4,835			—			—			4,835
Total assets			701,579			881,968			89,707			1,673,254
Total current liabilities			97,305			120,637			45,157			263,099
Total debt, including current portion			59,952			329,034			176,181			565,167

Schedule of segment capital expenditures

The following notes the Company’s capital expenditures, by operating segment, for these periods (in thousands).


		Capital Expenditures

			International			US			Corporate and
Six months ended June 30,			Telecom			Telecom			Other (1)			Consolidated
2026		$	14,404		$	50,861		$	1		$	65,266
2025			20,270			67,650			2			87,922

(1)

Corporate and other items refer to corporate overhead costs and consolidating adjustments and have been presented for reconciliation purposes to consolidated amounts.