Shares of Shenandoah Telecommunications (SHEN) plummeted 7.60% in pre-market trading on Wednesday after the company reported disappointing first-quarter 2025 financial results. The telecommunications service provider posted a wider net loss and missed analysts' expectations on both earnings per share and revenue.

Shenandoah Telecommunications reported a net loss of $9.132 million, or $0.19 per share, for the first quarter of 2025. This represents a significant increase from the net loss of $4.090 million, or $0.08 per share, in the same period last year. The reported loss per share of $0.19 missed the analyst consensus estimate of $0.14 by 35.71%.

While the company's revenue grew 26.93% year-over-year to $87.9 million, it still fell short of analysts' expectations of $89.31 million. The revenue growth was primarily driven by the acquired Horizon markets and expansion in Glo Fiber markets. However, the company faced challenges in its Incumbent Broadband Markets, where revenue declined by 5.0%. The increased net loss was attributed to higher depreciation and amortization expenses from Horizon and Glo Fiber network expansion.