SHEN

EX-99.1

2 exh_991.htm

PRESS RELEASE

EdgarFiling

EXHIBIT 99.1

Shenandoah Telecommunications Company Reports First Quarter 2026 Results

EDINBURG, Va., May 01, 2026 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel” or the “Company”) (Nasdaq: SHEN) announced first quarter 2026 financial and operating results.

First Quarter 2026 Highlights

Glo Fiber Expansion Markets revenue grew 34.6% year over year to $24.8 million. Total revenue increased 4.8% year over year to $92.2 million. Net loss from operations was $15.8 million compared to $9.1 million in the first quarter of 2025. Adjusted EBITDA1 grew 15.0% year over year to $31.7 million. “We have excellent momentum in our fiber businesses, with approximately 6,000 Glo Fiber net additions and 4.7% commercial fiber revenue growth in the first quarter, driving strong Adjusted EBITDA growth of 15%,” said Ed McKay, President and CEO. “We remain on track to complete our Glo Fiber expansion in 2026 and achieve positive free cash flow in 2027.”

Shentel’s first-quarter earnings conference call will be webcast at 8:30 a.m. ET on Friday, May 1, 2026. The webcast and related materials will be available on Shentel’s Investor Relations website at https://investor.shentel.com/.

First Quarter 2026 Results Compared with First Quarter 2025

Residential & SMB - Glo Fiber Expansion Markets2 revenue (26.9% of total) increased $6.4 million, or 34.6%, primarily due to a 33.7% increase in data revenue generating units (“RGUs”). Residential & SMB - Incumbent Broadband Markets3 revenue (44.6% of total) decreased $2.2 million, or 5.1%, primarily due to a 14.6% decline in video RGUs and a 1.6% decline in data average revenue per user (“ARPU”). Commercial Fiber revenue (22.3% of total) increased $0.9 million, or 4.7%, primarily due to an increase in recurring revenue resulting from additional circuit services sold to existing customers. RLEC & Other revenue (6.2% of total) decreased $0.8 million, or 13.0%, primarily due to a 28.0% decrease in Digital Subscriber Line RGUs and $0.3 million decrease in government support revenue. Cost of services decreased by $1.2 million, or 3.7%, primarily due to government grant reimbursements of certain indirect operating costs and a decrease in video programming costs driven by declining video RGUs. Selling, general and administrative expense increased by $2.4 million, or 7.7%. The increase was primarily due to an increase in advertising costs and payroll costs driven by expansion of the Glo Fiber homes passed and higher stock compensation. Restructuring, integration and acquisition expense increased by $1.9 million, or 378.4%. Restructuring, integration and acquisition expense in 2026 related primarily to accrued severance costs associated with the previously announced reduction in force. Depreciation and amortization increased by $5.5 million, or 18.7%, primarily due to the Company’s expansion of its Glo Fiber network and $2.8 million in write-offs primarily related to project costs under construction for markets that construction was cancelled due to higher costs to build. Other Information

Capital expenditures were $75.8 million for the three months ended March 31, 2026 compared with $83.2 million for the three months ended March 31, 2025. The $7.4 million decrease in capital expenditures was primarily driven by a slow down in capital projects as Shentel approaches the completion of its Glo Fiber market expansion project. The Company received $11.5 million and $6.9 million in government grant cash receipts during the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, the Company’s total available liquidity was $194.5 million, consisting of (i) unrestricted cash and cash equivalents totaling $43.8 million; (ii) restricted cash as required by the ABS Indenture totaling $27.3 million (iii) $67.8 million of availability under Shentel Broadband’s Revolving Credit Facility; (iv) $17.8 million under Shentel Issuer’s Variable Funding Note (“VFN”); and (v) an aggregate of $37.8 million remaining reimbursements available under government grants, subject to fulfilling the terms of the underlying agreements. In addition, the Company has $117.2 million of VFN commitments that are not available to draw as of March 31, 2026. The available capacity of the VFN will increase based on the secured fiber network revenue growth from the ABS Entities multiplied by (i) a margin as defined in the ABS Indenture and (ii) 6.25x multiple. On February 23, 2026, the Company announced a reduction in force of approximately 10% of its employees to align the business with the end of the Glo Fiber construction phase that is expected to be substantially complete by end of 2026. Employee departure dates will be staggered with the largest impact in the fourth quarter of 2026. The Company expects to save approximately $12.3 million annually beginning in 2027 with approximately half of the savings impacting operating expenses and half im

Form 8-KFalse000035496300003549632026-02-262026-02-26iso4217:USDxbrli:sharesiso4217:USDxbrli:shares

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported):  February 26, 2026

Shenandoah Telecommunications Company (Exact name of registrant as specified in its charter)

Virginia000-0988154-1162807 (State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.) 500 Shentel Way P.O. Box 459 Edinburg, Virginia 22824 (Address of Principal Executive Offices) (Zip Code) (540) 984-4141 (Registrant's telephone number, including area code) Not applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock (No Par Value)SHENNASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On February 26, 2026, Shenandoah Telecommunications Company (the “Company”) issued a press release announcing its financial position as of December 31, 2025, results of operations for the three and twelve months ended December 31, 2025, and other related information. The Company also posted supplemental earnings presentation materials on the investor section of the Company’s website at www.Shentel.com. A copy of the press release is furnished as Exhibit 99.1 and is incorporated herein by reference.

These materials may contain forward-looking statements about Shenandoah Telecommunications Company regarding, among other things, 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 the negative or other variation of these or similar words, or by discussions of strategy or risks and uncertainties.  Shenandoah Telecommunications Company undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events.

Item 9.01. Financial Statements and Exhibits.

(d)   Exhibits

The following exhibit is furnished with this Current Report on Form 8-K.

99.1* Fourth Quarter 2025 Earnings Press Release 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Furnished herewith

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Shenandoah Telecommunications Company

Date: February 26, 2026By: /s/ James J. Volk James J. Volk Senior Vice President – Chief Financial Officer (Principal Financial Officer)

Form 8-KFalse000035496300003549632025-10-292025-10-29iso4217:USDxbrli:sharesiso4217:USDxbrli:shares

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported):  October 29, 2025

Shenandoah Telecommunications Company (Exact name of registrant as specified in its charter)

Virginia000-0988154-1162807 (State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.) 500 Shentel Way P.O. Box 459 Edinburg, Virginia 22824 (Address of Principal Executive Offices) (Zip Code) (540) 984-4141 (Registrant's telephone number, including area code) Not applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock (No Par Value)SHENNASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On October 29, 2025, Shenandoah Telecommunications Company (the “Company”) issued a press release announcing its financial position as of September 30, 2025, results of operations for the three and nine months ended September 30, 2025, and other related information. The Company also posted supplemental earnings presentation materials on the investor section of the Company’s website at www.Shentel.com. A copy of the press release is furnished as Exhibit 99.1 and is incorporated herein by reference.

These materials may contain forward-looking statements about Shenandoah Telecommunications Company regarding, among other things, 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 the negative or other variation of these or similar words, or by discussions of strategy or risks and uncertainties. Shenandoah Telecommunications Company undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

The following exhibit is furnished with this Current Report on Form 8-K.

99.1* Third Quarter 2025 Earnings Press Release 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Furnished herewith

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Shenandoah Telecommunications Company

Date: October 29, 2025By: /s/ James J. Volk James J. Volk Senior Vice President – Chief Financial Officer (Principal Financial Officer)