EDINBURG, Va., June 20, 2025 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel”, Nasdaq: SHEN) announced plans to expand Glo Fiber service in Blacksburg, Virginia with a definitive agreement to acquire the assets and operations of Blacksburg Broadband LLC, which operates under the name WideOpen Blacksburg. The acquisition is anticipated to be complete by early to mid-July. WideOpen Blacksburg’s President, Dr. Andrew Cohill, stated, “I am confident that Glo Fiber is going to provide outstan ...

Core Insights - Glo Fiber, a service powered by Shenandoah Telecommunications Company (Shentel), has opened a new retail store in Williamsburg, Virginia, to enhance access to ultra-fast fiber internet services [1][2] - The company currently serves over 18,000 homes and businesses in the Williamsburg area, with plans to expand to several thousand additional locations by the end of the year [2] - Glo Fiber offers symmetrical upload and download speeds of up to 5 gigabits per second (Gbps), leveraging advanced fiber-to-the-home technology and a regional fiber network of 17,200 miles [2][4] Company Overview - Glo Fiber provides next-generation fiber-to-the-home (FTTH) multi-gigabit broadband internet access, live streaming TV, and digital phone services [4] - The company has expanded its services to approximately 363,000 homes and businesses across multiple states, including Virginia, West Virginia, Maryland, Pennsylvania, Ohio, and Delaware [4] - Shenandoah Telecommunications Company (Shentel) operates a high-speed fiber optic and cable network, offering a range of services including broadband internet, video, voice, and managed network services [5] Competitive Differentiators - Glo Fiber emphasizes exceptional reliability with symmetrical download and upload speeds of up to 5 Gbps [8] - The company offers straightforward pricing with no long-term contracts, enhancing customer appeal [8] - Local customer service is highlighted as a key strength, contributing to Glo Fiber's reputation in the market [8]

Shenandoah Telecommunications (SHEN) Q1 2025 Earnings Call April 30, 2025 08:30 AM ET Company Participants Kirk Andrews - Director of FP&AChristopher French - Chairman, President & CEOJames Volk - Senior VP of Finance & CFOEdward McKay - Executive VP & COOFrank Louthan - Managing DirectorHamed Khorsand - Principal Operator Good morning, everyone. Welcome to the Shenandoah Telecommunications First Quarter twenty twenty five Earnings Conference Call. Today's conference is being recorded. At this time, I will ...

Shenandoah Telecommunications (SHEN) Q1 2025 Earnings Call April 30, 2025 08:30 AM ET Company Participants Kirk Andrews - Director of FP&AChristopher French - Chairman, President & CEOJames Volk - Senior VP of Finance & CFOEdward McKay - Executive VP & COOFrank Louthan - Managing DirectorHamed Khorsand - Principal Operator Good morning, everyone. Welcome to the Shenandoah Telecommunications First Quarter twenty twenty five Earnings Conference Call. Today's conference is being recorded. At this time, I will ...

Shenandoah Telecommunications (SHEN) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -35.71%. A quarter ago, it was expected that this telecommunications service provider in parts of Maryland, Pennsylvania, Virginia and West Virginia would post a loss of $0.15 per share when it actually produ ...

Financial Data and Key Metrics Changes - Revenues grew 27% to $87.9 million, with former Horizon markets contributing $15.2 million. Excluding Horizon, revenues increased by $3.5 million or 5% compared to Q1 2024 [11] - Adjusted EBITDA increased by 43% to $27.6 million, with former Horizon markets contributing $4.4 million. Excluding Horizon, adjusted EBITDA grew by $4 million or 21% year-over-year [12] - Adjusted EBITDA margins improved from 28% in Q1 2024 to 31% in Q1 2025, driven by high incremental margins from Glo Fiber subscribers and synergy savings [12] Business Line Data and Key Metrics Changes - Glo Fiber expansion markets added 5,400 new subscribers and 16,600 new passings, resulting in a 52% revenue increase compared to the same period in 2024 [6] - Legacy Glo Fiber markets revenue grew by $5.6 million or 47%, driven by subscriber increases, while incumbent broadband markets revenue declined by $2.2 million due to a 14% drop in video RGUs [11] - The commercial sales team achieved record sales bookings of just under $200,000 in monthly recurring revenues [8] Market Data and Key Metrics Changes - Glo Fiber's broadband data penetration reached 19.4%, up from 18% a year earlier, with monthly broadband data churn remaining low at 0.9% [19] - Incumbent broadband markets saw a 2.7% year-over-year increase in broadband data customers, ending Q1 with approximately 112,000 customers [20] - Overall broadband data penetration decreased to 46.5% due to the addition of acquired passings in the Horizon territory [21] Company Strategy and Development Direction - The company plans to complete the construction phase of Glo Fiber expansion and government grant projects by the end of 2026, targeting 550,000 total Glo Fiber passings [16] - The company aims to achieve free cash flow positivity by 2027, with significant growth expected in 2028 and beyond [30] - The company is focusing on a hybrid capital structure to lower the cost of debt, planning to access the ABS market for its fiber business [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth prospects in Glo Fiber markets, highlighting the potential for free cash flow generation as penetration rates increase [6] - The company noted a favorable response from customers to enhanced rate plans and value propositions introduced in the past year [7] - Management expects EBITDA margins to continue growing by 300 to 400 basis points annually as customer additions increase [33] Other Important Information - Liquidity as of March 31 was $335 million, including $88 million in cash and $143 million in available revolver capacity [13] - Capital expenditures in Q1 totaled $76 million, with full-year guidance set between $250 million and $280 million [22] - The company has not been significantly impacted by price increases due to tariffs, with most materials sourced domestically [23][24] Q&A Session Summary Question: Potential for ABS securities and optimal capital structure - Management expects ABS to save about 100 basis points in interest expense and plans to use investment-grade tranches [28] Question: Glo Fiber capital expenditure plans - The company anticipates completing Glo Fiber construction by the end of 2026, with capital intensity expected to drop to 20-25% of revenues starting in 2027 [30] Question: Subscriber growth challenges - Management indicated that they are not yet facing difficulties in adding subscribers, with continued growth observed even in mature markets [36] Question: Competitive pressures - There is minimal competition in Glo Fiber markets, with only a small overlap with BrightSpeed [37] Question: Refinancing process and cost implications - The internal restructuring for refinancing is expected to save approximately $7 million in annual interest expense [40]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to __________ Commission File No.: 000-09881 SHENANDOAH TELECOMMUNICATIONS COMPANY (Exact name of registrant as specified in its charter) Virginia 54-1162807 (State or other jurisdiction of incorp ...

April 30, 2025 Q1 2025 Earnings Conference Call Safe Harbor Statement This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, regarding our business strategy, our prospects and our financial position. These statements can be identified by the use of forward-looking terminology such as "believes," "estimates," "expects," "intends," "may," "will," "should," "could" or "anticipates" or th ...

Revenue Growth - Glo Fiber Expansion Markets added 5,400 new subscribers and 16,600 new passings, resulting in a 52% revenue growth to $18.4 million[3] - Total revenue increased by $18.7 million, or 26.9%, to $87.9 million, with a 5% growth to $72.9 million when excluding former Horizon markets[7] - Adjusted EBITDA grew 43.3% to $27.6 million, with a 20.6% increase when excluding former Horizon markets[6] - Residential & SMB revenue reached $61,803 thousand for the three months ended March 31, 2025, compared to $55,927 thousand in the same period of 2024, reflecting an increase of 10.5%[25] - Total Residential & SMB Revenue for 2024 is projected to be $235,392 million, with quarterly revenues of $56,488 million in Q1, $59,053 million in Q2, $59,325 million in Q3, and $60,526 million in Q4[27] - Glo Fiber Expansion Markets are expected to generate $52,132 million in revenue for 2024, with a quarterly increase from $10,783 million in Q1 to $15,053 million in Q4[27] - Service revenue and other for 2024 is projected to total $328,058 million, with consistent quarterly growth throughout the year[27] - Video revenue is projected to be $58,030 million for 2024, with quarterly revenues showing stability around $14,000 million[27] - Voice revenue is expected to total $12,765 million for 2024, with a slight decline in Q4'24 to $3,184 million[27] - Commercial Fiber revenue is projected to be $67,011 million for 2024, with significant growth in Q2'24 reaching $20,257 million[27] Financial Performance - Net loss from continuing operations was $9.1 million, compared to a net loss of $4.1 million in Q1 2024, primarily due to higher depreciation and amortization[6] - The company reported a net loss of $9,132 thousand for the three months ended March 31, 2025, compared to a net income of $214,696 thousand for the same period in 2024[16] - Adjusted EBITDA for the three months ended March 31, 2025, was $27,593 thousand, an increase of 43.5% from $19,251 thousand in the prior year, with an adjusted EBITDA margin of 31%[21] Capital Expenditures - Capital expenditures for Q1 2025 were $83.2 million, up from $70.1 million in Q1 2024, driven by investments in Horizon markets and Glo Fiber network expansion[12] - Capital expenditures for the three months ended March 31, 2025, were $83,236 thousand, compared to $70,053 thousand in the prior year, indicating a rise of 18.8%[16] Subscriber Growth - Total broadband homes passed increased by 128,000 to approximately 604,000, including 363,000 in Glo Fiber Expansion Markets[6] - Glo Fiber Expansion Markets data subscribers grew 51% year-over-year to approximately 71,000[6] - The number of broadband data RGUs increased to 182,425 in March 2025, up from 155,687 in March 2024, showing a growth of 17.1%[24] - Total homes and businesses passed increased to 603,649 as of March 31, 2025, up from 476,081 in the previous year, marking a growth of 26.8%[24] - Average RGUs for Broadband Data are expected to increase from 153,418 in Q1'24 to 173,771 in Q4'24, indicating a growth trend in user adoption[27] - The average RGUs for Glo Fiber Expansion Markets are expected to rise from 44,163 in Q1'24 to 62,387 in Q4'24, reflecting strong market expansion[27] Liquidity and Debt - As of March 31, 2025, total available liquidity was approximately $334.6 million, including cash and cash equivalents of $87.5 million[12] - The company had cash and cash equivalents of $87,547 thousand at the end of the period, up from $46,272 thousand at the beginning of the period, representing an increase of 89.2%[16] - Long-term debt, less current maturities, increased to $504,199 thousand as of March 31, 2025, compared to $407,675 thousand at December 31, 2024, a rise of 23.7%[15] Expenses - Selling, general and administrative expenses rose by $3.0 million, or 10.8%, due to costs incurred in the acquired Horizon markets[7] - Depreciation and amortization increased by $12.0 million, or 68.9%, due to the Horizon transaction and Glo Fiber network expansion[7] Market Penetration - The penetration rate for Incumbent Broadband Markets decreased to 46.5% in March 2025 from 50.3% in March 2024[24] ARPU Projections - The ARPU for Incumbent Broadband Markets is projected to be $84.81 for the full year 2024, with a slight increase from $84.64 in Q3'24 to $85.26 in Q4'24[27] - The reclassification of certain revenues has resulted in updated ARPU values, with Broadband Data ARPU projected at $83.67 for 2024[27]

EDINBURG, Va., April 30, 2025 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel” or the “Company”) (Nasdaq: SHEN) announced first quarter 2025 financial and operating results. First Quarter 2025 Highlights Glo Fiber Expansion Markets1 data subscribers grew 51% over the same period in 2024 to approximately 71,000.Glo Fiber Expansion Markets revenue grew 52% to $18.4 million.Total revenue grew 26.9% compared to the same period in 2024 to $87.9 million. Excluding the former Horizon markets, t ...