Cash GenerationMaterial improvement in operating cash flow and substantially higher free cash flow provide durable internal funding for network investment, debt service and working capital. Strong cash conversion despite a net loss gives the company resilience to execute multi‑year buildouts and absorb timing variability.
Balance Sheet FlexibilityA $300M rights offering combined with significant undrawn credit materially improves liquidity and lowers near‑term refinancing risk. That durable funding buffer supports the Alaska build‑out, allows BEAD matching if awarded, and preserves strategic optionality without relying on volatile public markets.
Network Investment RoadmapClear, multi‑year technology upgrades (fiber middle mile, DOCSIS4.0, HFC speed increases and core upgrades) are durable competitive assets. They enable higher ARPU services, product differentiation, improved reliability and improve long‑term retention and monetization across consumer and business segments in Alaska.