Leases

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Leases

LEASES

We have operating lease arrangements for corporate offices, cellular towers, storage units and small building spaces. The building space is used to house infrastructure, such as transmitters, antennae and other various equipment for the Company’s wireless paging services. For leases with a term of 12 months or less, renewal terms are generally of an evergreen nature (either month-to-month or year-to-year). For leases with a term greater than 12 months, renewal terms are generally explicit and provide for one to five optional renewals consistent with the initial term. Many of our leases, with the exception of those for our corporate offices, include options to terminate the lease within one year. Variable lease payments, residual value guarantees or purchase options are not generally present in these leases.

Lease costs are included in technology operations and general and administrative expenses in the Condensed Consolidated Statements of Operations. The following table presents lease costs disaggregated by type:

	For the Three Months Ended March 31,
(Dollars in thousands)	2025		2024
Operating lease cost	$	764	$	1,035
Short-term lease cost	2,015		2,452
Total lease cost	$	2,779	$	3,487

The following table presents supplemental cash flow information:

	For the Three Months Ended March 31,
(Dollars in thousands)	2025		2024
Cash paid for amounts included in the measurement of lease liabilities - operating leases	$	771	$	1,172
Right-of-use assets obtained in exchange for lease obligations	$	38	$	337

The following table presents the weighted average remaining lease term and discount rate:

	March 31,
(Dollars in thousands)	2025	2024
Weighted average remaining lease term - operating leases (in years)	4.20	4.50
Weighted average discount rate - operating leases	6.66%	6.05%

Maturities of lease liabilities as of March 31, 2025, were as follows:

For the Year Ended December 31,	(Dollars in thousands)
2025 (remaining nine months)	$	2,143
2026	2,464
2027	1,858
2028	1,310
2029	508
Thereafter	1,004
Total future lease payments	9,287
Imputed interest	(1,108)
Total	$	8,179