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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
Total revenue $ 67,148 $ 60,385 $ 127,180 $ 116,865
Operating expenses:        
Marketing, general and administrative 9,683 10,353 21,272 20,999
Stock-based compensation 5,949 9,164 12,906 18,391
Reduction in the value and disposal of long-lived assets 0 0 7,038 305
Depreciation, amortization and accretion 23,010 22,110 45,287 44,207
Total operating expenses 61,002 61,807 129,535 122,999
Income (loss) from operations 6,146 (1,422) (2,355) (6,134)
Other income (expense):        
Interest income and expense, net of amounts capitalized (7,428) (3,644) (15,373) (7,429)
Foreign currency gain (loss) 11,966 (4,493) 16,072 (8,335)
Derivative and other 6,697 58 6,284 (791)
Total other income (expense) 11,235 (8,079) 6,983 (16,555)
Income (loss) before income taxes 17,381 (9,501) 4,628 (22,689)
Income tax (benefit) expense (1,827) 182 2,751 190
Net income (loss) 19,208 (9,683) 1,877 (22,879)
Other comprehensive income (loss):        
Foreign currency translation adjustments (7,577) 1,864 (10,422) 4,257
Comprehensive income (loss) 11,631 (7,819) (8,545) (18,622)
Net income (loss) attributable to common shareholders (Note 11) $ 16,564 $ (12,327) $ (3,382) $ (28,167)
Net income (loss) per common share:        
Basic (in dollars per share) [1] $ 0.13 $ (0.10) $ (0.03) $ (0.22)
Diluted (in dollars per share) [1] $ 0.13 $ (0.10) $ (0.03) $ (0.22)
Weighted-average shares outstanding:        
Basic (in shares) [1] 126,614 125,614 126,545 125,560
Diluted (in shares) [1] 127,854 125,614 126,545 125,560
Service revenue        
Revenue:        
Total revenue $ 63,216 $ 57,635 $ 120,283 $ 111,100
Operating expenses:        
Cost of goods and services 19,479 18,114 38,104 34,873
Subscriber equipment sales        
Revenue:        
Total revenue 3,932 2,750 6,897 5,765
Operating expenses:        
Cost of goods and services $ 2,881 $ 2,066 $ 4,928 $ 4,224
[1] The number of shares as of June 30, 2024 have been restated to reflect the 1:15 reverse stock split effectuated on February 10, 2025. All historical share and per share amounts for the periods prior to the completion of the reverse stock split reflected in this Report have been adjusted to reflect the reverse stock split. Refer to Note 13: Common Stock.