Filing Flows › Shenandoah Telecommunications (SHEN) › Q2 2025
Shenandoah Telecommunications (SHEN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Shenandoah Telecommunications (SHEN) reported revenue of $88.6M for the second quarter 2025 (Q2 2025), +3% from a year earlier and +0.8% from the quarter before. Operating margin was -10.3%, net loss $9.0M (10.2% of revenue).
Shenandoah Telecommunications, Q2 2025: revenue $88.6M (+3% year over year), operating margin -10.3%, net loss $9.0M, operating cash flow $20.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $88.6M | +0.8% | +3% |
| Operating profit | −$9.1M | — | — |
| Net earnings | −$9.0M | — | — |
| Operating cash flow | $20.9M | +2% | +724% |
What changed
Revenue was $88.6M in Q2 2025, up 3% year over year and up 1% from the previous quarter. Residential & SMB - Incumbent Broadband Markets was the largest line at 48% of revenue. Residential & SMB - Glo Fiber Expansion Markets added $5.7M year over year (up 40%), 206% of the total change. Commercial Fiber declined 6%.
Operating costs exceeded revenue by $9.1M, an operating margin of -10.3%. Total costs fell 4% while revenue rose 3%. The quarter ended with a net loss of $9.0M, narrower than the previous quarter's $9.1M loss.
Operating cash flow was $20.9M (up 724% year over year). Non-cash charges added back $35.1M of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items used $7.3M. Capital expenditures of $86.2M exceeded it, leaving free cash flow of −$65.2M.
Questions
What was Shenandoah Telecommunications' revenue in the second quarter 2025?
Shenandoah Telecommunications (SHEN) reported revenue of $88.6M for the second quarter 2025 (Q2 2025), +3% from a year earlier and +0.8% from the quarter before.
Was Shenandoah Telecommunications profitable in the second quarter 2025?
Operating loss was $9.1M (-10.3% of revenue) and net loss $9.0M.