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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Net revenues (note 10) $ 75,893 $ 74,311 $ 221,861 $ 240,418
Cost of revenues (note 10)        
Direct cost of revenues 49,540 48,330 144,860 153,308
Network expenses 3,445 2,612 10,295 7,513
Depreciation of property and equipment 4,622 2,985 12,344 8,892
Amortization of intangible assets (note 6) 21 330 344 1,010
Impairment of property and equipment 241 113 302 1,638
Total cost of revenues 57,869 54,370 168,145 172,361
Gross profit 18,024 19,941 53,716 68,057
Expenses:        
Sales and marketing 9,892 8,318 27,579 26,521
Technical operations and development 3,742 3,162 10,044 8,980
General and administrative 5,069 4,868 15,232 15,074
Depreciation of property and equipment 136 125 384 363
Loss on disposition of property and equipment 229 0 234 0
Amortization of intangible assets (note 6) 2,267 2,315 6,909 7,766
Impairment of definite life intangible assets 0 0 0 1,431
Loss (gain) on currency forward contracts (note 5) (87) (159) (277) (99)
Total expenses 21,248 18,629 60,105 60,036
Income from operations (3,224) 1,312 (6,389) 8,021
Other income (expenses):        
Interest expense, net (1,169) (760) (3,108) (2,756)
Gain on sale of Ting customer assets, net (note 17) 5,564 1,090 15,767 1,090
Other expense, net (95) (86) (274) (258)
Total other income (expenses) 4,300 244 12,385 (1,924)
Income before provision for income taxes 1,076 1,556 5,996 6,097
Provision for income taxes (note 8) (299) 840 665 2,390
Net income for the period 1,375 716 5,331 3,707
Other comprehensive income, net of tax        
Unrealized income (loss) on hedging activities (note 5) (501) 729 115 609
Net amount reclassified to earnings (note 5) (884) 46 (2,739) 289
Other comprehensive income net of tax expense (recovery) of ($419) and $230 for the three months ended September 30, 2021 and September 30, 2020, ($794) and $262 for the nine months ended September 30, 2021 and September 30, 2020 (note 5) (1,385) 775 (2,624) 898
Comprehensive income, net of tax for the period $ (10) $ 1,491 $ 2,707 $ 4,605
Basic earnings per common share (note 9) (in dollars per share) $ 0.13 $ 0.07 $ 0.50 $ 0.35
Shares used in computing basic earnings per common share (note 9) (in shares) 10,679,309 10,577,731 10,643,798 10,585,785
Diluted earnings per common share (note 9) (in dollars per share) $ 0.13 $ 0.07 $ 0.49 $ 0.35
Shares used in computing diluted earnings per common share (note 9) (in shares) 10,819,716 10,682,808 10,800,361 10,679,162