Shentel announced that its Virginia Telecommunications Initiative (VATI) project in Shenandoah County has been completed, delivering gigabit‑speed fiber to more than 7,000 homes that previously had no high‑speed internet service. The $50 million construction effort was funded through a mix of state grant money from the Virginia Department of Housing and Community Development, capital from Shentel, and a contribution from the county, and the new service is being offered under the Glo Fiber brand.
The VATI program is a state‑backed initiative that partners internet service providers with local governments to extend broadband to underserved areas. By securing this grant, Shentel has leveraged public funding to accelerate its fiber rollout, reducing capital outlay and speeding deployment in a rural market that has historically lagged in connectivity.
The expansion aligns with Shentel’s fiber‑first strategy and its broader growth plan. In Q3 2025, the company reported total revenue of $89.8 million, up 2.5% year‑over‑year, while Glo Fiber Expansion Markets grew 41.1% in the same period. The new customers in Shenandoah County are expected to contribute to this momentum, expanding the company’s subscriber base and reinforcing its position in high‑potential rural markets.
Shentel’s financials reflect a company investing heavily in network expansion while managing profitability. Adjusted EBITDA rose 11.8% to $29.7 million in Q3 2025, reaching a 33% margin, up from 27% in the prior quarter. Capital expenditures for the first half of 2025 totaled $169.4 million, with $81.7 million earmarked for fiber expansion. A recent refinancing of credit facilities on December 5, 2025, is expected to lower annual debt costs by roughly $10 million and extend maturities to 2030, providing additional financial flexibility for future projects.
President and CEO Ed McKay highlighted the company’s progress, noting that the firm is “pleased to see our business scaling with Adjusted EBITDA margin expansion from 27% in the second quarter of 2024 to 33% in the third quarter of 2025.” He added that the strong performance of Glo Fiber, with revenue and subscriber growth of 41% over the same period, underscores the effectiveness of the fiber‑first strategy.
The completion of the Shenandoah County project demonstrates Shentel’s ability to secure state grants and execute large‑scale infrastructure builds, positioning the company to capture additional rural customers and strengthen its competitive edge in the evolving broadband market. The expansion is a tangible step toward the company’s long‑term goal of expanding fiber coverage and driving revenue growth in underserved regions.
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