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Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Total revenue $ 201,067 $ 193,108 $ 404,920 $ 398,381
Operating expenses:        
Research and development 6,512 5,626 13,710 9,504
Selling, general and administrative 46,723 37,339 83,534 76,023
Depreciation and amortization 50,776 114,569 100,520 190,388
Total operating expenses 157,421 209,079 311,503 391,204
Operating income (loss) 43,646 (15,971) 93,417 7,177
Other income (expense), net:        
Interest expense, net (23,797) (18,723) (44,460) (36,613)
Other income (expense), net (646) 419 (603) 638
Total other expense, net (24,443) (18,304) (45,063) (35,975)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest 19,203 (34,275) 48,354 (28,798)
Income tax benefit (expense) (4,565) 5,211 (12,496) 10,664
Gain (loss) on equity method investments 17,698 (1,677) 16,131 (2,832)
Net income (loss) $ 32,336 $ (30,741) $ 51,989 $ (20,966)
Weighted Average Number of Shares Outstanding, Basic 120,612 126,239 121,877 126,569
Weighted Average Number of Shares Outstanding, Diluted 121,242 126,239 122,703 126,569
Earnings Per Share, Basic and Diluted $ 0.27 $ (0.24) $ 0.43 $ (0.17)
Comprehensive income (loss):        
Net income (loss) $ 32,336 $ (30,741) $ 51,989 $ (20,966)
Foreign currency translation adjustments (327) (132) (723) (41)
Unrealized Gain on Cash Flow Hedging, net of tax (4,850) 10,061 1,883 405
Comprehensive income (loss) $ 27,159 $ (20,812) $ 53,149 $ (20,602)
Earnings Per Share, Diluted $ 0.27 $ (0.24) $ 0.42 $ (0.17)
Services        
Revenue:        
Total revenue $ 152,467 $ 145,142 $ 301,044 $ 284,491
Operating expenses:        
Cost of Goods and Services Sold 39,464 35,432 85,913 72,037
Subscriber equipment        
Revenue:        
Total revenue 22,782 27,376 47,650 69,052
Operating expenses:        
Cost of Goods and Services Sold 13,946 16,113 27,826 43,252
Engineering and support services        
Revenue:        
Total revenue $ 25,818 $ 20,590 $ 56,226 $ 44,838