Shenandoah Telecommunications (SHEN) reported mixed Q1 2025 results, with strong growth in its Glo Fiber segment despite overall net losses. Total revenue increased 26.9% to $87.9 million, driven by the Horizon acquisition and Glo Fiber expansion. Key highlights include: The company added 5,400 new subscribers and 16,600 new passings in Glo Fiber markets. Total broadband homes passed increased by 128,000 to 604,000. The company maintains strong liquidity with $334.6 million available, including cash, credit facility, and government grants. Capital expenditures rose to $83.2 million, primarily for network expansion.