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Nuvera Communications Inc (NUVR+2.04%). has submitted its Form 10-K filing for the fiscal year ending December 31, 2024.
The filing includes financial statements for the year, showing total operating revenues of $69,236,337, an increase from $65,791,968 in the previous year. This increase was primarily due to higher data service revenues and governmental support.
Voice service revenue decreased by 11.4% to $4,664,083, while network access revenue declined by 18.7% to $3,103,915, attributed to lower minutes of use and decreased access lines.
Video service revenue fell by 2.6% to $11,746,455, reflecting a decline in video customers. Data service revenue increased by 8.2% to $29,758,882, driven by growth in fiber customers and higher service packages.
A-CAM and FUSF support increased by 24.3% to $15,507,401, due to new CBOL funding from the USAC.
Operating expenses totaled $59,346,454, an increase from $56,556,704 in the previous year, primarily due to increased depreciation and selling, general, and administrative expenses.
The company reported an operating income of $9,889,883, up from $9,235,264 in the previous year. However, a net loss of $4,427,810 was recorded, compared to a net loss of $3,214,694 in the previous year.
Interest expense increased significantly to $11,238,426 due to higher debt levels and interest rates. The company also recorded a goodwill impairment of $4,978,369 related to its HTC operating unit.
Nuvera's total capital expenditures were $53,757,778, primarily for its fiber network expansion.
The company had a working capital surplus of $16,603,132 as of December 31, 2024, and was in compliance with all stipulated financial ratios in its loan agreements.
Nuvera continues to focus on expanding its fiber network and enhancing its product offerings to meet customer demand for high-speed broadband services.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Nuvera Communications Inc annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.