Financial Data and Key Metrics Changes - Revenue grew 3.2% to $88.6 million, driven by strong Glo Fiber market revenue growth of $5.7 million or 40.5% due to an increase in subscribers [11][12] - Adjusted EBITDA increased by $5.1 million or 21.9% to $28.4 million, with adjusted EBITDA margins rising from 27% in Q2 2024 to 32% in Q2 2025 [13] - The company expects 2025 revenues to be between $352 million and $357 million, with adjusted EBITDA projected to be between $113 million and $118 million [13] Business Line Data and Key Metrics Changes - Glo Fiber added 5,700 new subscribers and over 16,000 new passings, with total Glo Fiber revenue generating units reaching 90,000, up 40% year over year [8][17] - The commercial fiber business recorded over $200,000 in monthly recurring revenue sales bookings, indicating future growth potential [9][12] - Incumbent broadband market revenue declined due to a 15% drop in video RGUs as customers switched to streaming services [11] Market Data and Key Metrics Changes - Glo Fiber markets saw broadband data penetration climb to 20%, up from approximately 18% a year ago, with monthly broadband data churn improving to 1.15% [18][19] - The total broadband data customer base in incumbent markets slightly increased year over year, with a total of 112,000 customers [20] - The commercial fiber business achieved a record in new contracts, totaling over $203,000 in incremental monthly revenue, up 32% year over year [22] Company Strategy and Development Direction - The company is executing a "Fiber First" strategy, transitioning from a mature cable and telephone operator to a rapidly growing fiber-first business [7][10] - The management team is focused on expanding Glo Fiber and enhancing customer service to maintain competitive advantages over larger cable providers [28] - The company plans to accelerate capital expenditures in 2025 due to successful construction of government grant projects, which will enhance future revenue potential [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory, citing strong subscriber additions and the successful execution of the fiber expansion strategy [8][24] - The management team acknowledged competitive pressures but emphasized their advantages in speed and customer service [28] - The company aims to provide more visibility and transparency to shareholders by offering annual guidance [31] Other Important Information - The company closed a small tuck-in acquisition in early July, adding 1,500 passings and approximately 700 customers for $5 million [14][15] - Liquidity was reported at $260 million, with $29 million in cash and $143 million in available revolver capacity [14] Q&A Session Summary Question: Competitive pressures in Glo Fiber expansion - Management noted that while some cable providers are changing rate plans, they believe their speed advantage and local customer service provide a competitive edge [28] Question: CapEx acceleration decision - The decision to accelerate CapEx was driven by the construction team's success in building government grant projects faster than expected [29] Question: Impact of CapEx on future revenue - Management indicated that pulling construction forward would help subscriber growth and revenue in 2026 due to increased passings in government-subsidized areas [30] Question: Reason for mid-year guidance - The company aimed to enhance visibility and transparency for shareholders by providing annual guidance [31]