Nuvera Communications (NUVR) 10-Q 14 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 14, 2024
Document Information Line Items
Entity Registrant Name	NUVERA COMMUNICATIONS, INC.
Trading Symbol	NUVR
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		5,178,178
Amendment Flag	false
Entity Central Index Key	0000071557
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	0-3024
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-0440990
Entity Address, Address Line One	27 North Minnesota Street
Entity Address, City or Town	New Ulm
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	56073
City Area Code	507
Local Phone Number	354-4111
Entity Interactive Data Current	Yes
Title of 12(g) Security	Common Stock - $1.66 par value

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
OPERATING REVENUES:
Operating Revenues	$ 17,177,854	$ 16,284,687	$ 34,122,979	$ 32,647,634
OPERATING EXPENSES:
Plant Operations (Excluding Depreciation and Amortization)	4,083,289	3,941,949	7,962,795	7,922,436
Cost of Video	2,315,155	2,417,912	4,668,381	4,883,232
Cost of Data	1,208,697	1,326,717	2,349,235	2,392,895
Cost of Other Nonregulated Services	382,602	393,589	805,353	789,976
Depreciation and Amortization	4,449,136	3,734,449	8,803,795	7,421,481
Selling, General and Administrative	2,756,482	2,656,926	5,630,814	5,236,272
Total Operating Expenses	15,195,361	14,471,542	30,220,373	28,646,292
OPERATING INCOME	1,982,493	1,813,145	3,902,606	4,001,342
OTHER INCOME (EXPENSE)
Interest Expense	(2,573,375)	(1,556,065)	(5,087,698)	(2,758,988)
Interest/Dividend Income	22,600	55,771	135,430	145,046
Interest During Construction	189,103	137,744	434,390	196,243
Gain on Sale of Investments	(257,807)	(26,710)	(257,807)	4,060,497
CoBank Patronage Dividends			1,196,948	692,371
Other Investment Income	34,879	61,451	96,223	150,987
Total Other Income (Expense)	(2,584,600)	(1,327,809)	(3,482,514)	2,486,156
INCOME BEFORE INCOME TAXES	(602,107)	485,336	420,092	6,487,498
INCOME TAXES EXPENSE	(168,591)	135,908	117,623	1,816,511
NET INCOME (LOSS)	$ (433,516)	$ 349,428	$ 302,469	$ 4,670,987
NET INCOME (LOSS) PER SHARE
Basic (in Dollars per share)	$ (0.08)	$ 0.07	$ 0.06	$ 0.91
Diluted (in Dollars per share)	(0.08)	0.07	0.06	0.91
DIVIDENDS PER SHARE (in Dollars per share)	$ 0	$ 0.14	$ 0	$ 0.28
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic (in Shares)	5,163,476	5,117,342	5,148,342	5,106,220
Diluted (in Shares)	5,315,827	5,178,323	5,286,303	5,157,569
Voice Services [Member]
OPERATING REVENUES:
Operating Revenues	$ 1,199,823	$ 1,293,258	$ 2,431,551	$ 2,605,851
Network Access [Member]
OPERATING REVENUES:
Operating Revenues	909,516	955,459	1,856,626	2,050,751
Video Service [Member]
OPERATING REVENUES:
Operating Revenues	2,973,791	3,063,857	5,963,740	6,115,154
Data Service [Member]
OPERATING REVENUES:
Operating Revenues	7,526,344	6,874,570	14,775,117	13,691,119
ACAM/FUSF [Member]
OPERATING REVENUES:
Operating Revenues	3,476,234	2,990,581	6,891,700	5,978,860
Other Non Regulated [Member]
OPERATING REVENUES:
Operating Revenues	$ 1,092,146	$ 1,106,962	$ 2,204,245	$ 2,205,899

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ (433,516)	$ 349,428	$ 302,469	$ 4,670,987
Other Comprehensive Gain (Loss):
Unrealized Gain (Loss) on Interest Rate Swaps	(208,230)	348,866	(222,965)	(97,642)
Income Tax (Expense) Benefit Related to Unrealized Gain (Loss) on Interest Rate Swaps	59,429	(99,566)	63,634	27,867
Other Comprehensive Gain (Loss):	(148,801)	249,300	(159,331)	(69,775)
Comprehensive Income (Loss)	$ (582,317)	$ 598,728	$ 143,138	$ 4,601,212

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash	$ 1,200,029	$ 1,259,904
Receivables, Net	2,514,890	3,411,892
Income Taxes Receivable	118,778
Materials, Supplies, and Inventories	30,730,837	34,438,857
Prepaid Expenses and Other Current Assets	2,740,125	2,245,160
Total Current Assets	37,304,659	41,355,813
INVESTMENTS & OTHER ASSETS:
Goodwill	40,603,029	40,603,029
Intangibles	13,462,491	14,488,608
Other Investments	8,159,345	8,322,252
Right of Use Asset	1,158,686	1,348,290
Financial Derivative Instruments	1,119,663	1,342,628
Other Assets	885,024	884,122
Total Investments and Other Assets	65,388,238	66,988,929
PROPERTY, PLANT & EQUIPMENT:
Communications Plant	293,329,027	277,357,371
Other Property & Equipment	33,470,926	32,433,191
Video Plant	19,161,420	18,848,612
Total Property, Plant and Equipment	345,961,373	328,639,174
Less Accumulated Depreciation	180,864,481	173,088,602
Net Property, Plant & Equipment	165,096,892	155,550,572
TOTAL ASSETS	267,789,789	263,895,314
CURRENT LIABILITIES:
Current Portion of Long-Term Debt, Net of Unamortized Loan Fees
Accounts Payable	10,396,300	12,803,435
Checks Written in Excess of Cash Balances	1,751,261	2,270,832
Accrued Income Taxes		581,098
Other Accrued Taxes	249,602	253,490
Deferred Compensation	44,935	45,797
Accrued Compensation	1,902,806	1,562,115
Other Accrued Liabilities	614,550	1,059,163
Total Current Liabilities	14,959,454	18,575,930
LONG-TERM DEBT, Net of Unamortized Loan Fees	129,840,654	122,891,638
NONCURRENT LIABILITIES:
Deferred Income Taxes	22,968,465	23,032,099
Other Accrued Liabilities	1,049,246	1,132,799
Deferred Compensation	234,568	256,605
Total Noncurrent Liabilities	24,252,279	24,421,503
COMMITMENTS AND CONTINGENCIES:
STOCKHOLDERS' EQUITY:
Preferred Stock - $1.66 Par Value, 10,000,000 Shares Authorized, No Shares Issued and Outstanding
Common Stock - $1.66 Par Value, 90,000,000 Shares Authorized, 5,178,176 and 5,133,207 Shares Issued and Outstanding	8,630,293	8,555,345
Accumulated Other Comprehensive Gain	800,111	959,442
Retained Earnings	89,306,998	88,491,456
Total Stockholders' Equity	98,737,402	98,006,243
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 267,789,789	$ 263,895,314

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock par value (in Dollars per share)	$ 1.66	$ 1.66
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock par value (in Dollars per share)	$ 1.66	$ 1.66
Common stock, shares authorized	90,000,000	90,000,000
Common stock, shares issued	5,178,176	5,133,207
Common stock, shares outstanding	5,178,176	5,133,207

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 302,469	$ 4,670,987
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation and Amortization	8,947,852	7,524,709
(Gains) Losses on Investments	257,807	(4,060,497)
Undistributed Earnings of Other Equity Investments	(94,305)	(166,132)
Noncash Patronage Refund	(141,819)	(106,769)
Stock Issued in Lieu of Cash Payment	199,008	273,175
Distributions from Equity Investments	127,529	28,048
Stock-based Compensation	178,560	100,631
Changes in Assets and Liabilities:
Receivables	871,167	(628,725)
Income Taxes Receivable	(118,778)	283,665
Inventory for Resale	107,945	22,221
Prepaid Expenses	(284,512)	(651,605)
Other Assets	30,802	(258,233)
Accounts Payable	(59,300)	51,985
Checks Written in Excess of Cash Balance	(519,571)
Accrued Income Taxes	(581,098)	1,292,347
Other Accrued Taxes	(3,888)	5,567
Other Accrued Liabilities	2,129	(931,963)
Deferred Compensation	(22,899)	(88,128)
Net Cash Provided by Operating Activities	9,199,098	7,361,283
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to Property, Plant, and Equipment, Net	(23,033,815)	(15,092,419)
Materials and Supplies for Construction	3,601,375	(17,541,898)
Proceeds from Sale of Equity Investments		5,578,788
Other, Net	239,797	203,168
Net Cash Used in Investing Activities	(19,192,643)	(26,852,361)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal Payments of Long-Term Debt	(125,000,000)
Loan Proceeds	125,000,000	20,000,000
Loan Origination Fees	(1,662,893)	(9,912)
Changes in Revolving Credit Facility	8,467,851	(53,182)
Grants Received for Construction of Plant	3,128,712	1,070,948
Dividends Paid		(1,430,771)
Net Cash Provided by Financing Activities	9,933,670	19,577,083
NET CHANGE IN CASH	(59,875)	86,005
CASH at Beginning of Period	1,259,904	310,556
CASH at End of Period	1,200,029	396,561
Supplemental cash flow information:
Cash paid for interest	5,110,800	3,657,439
Net cash paid for income taxes	$ 817,500	$ 240,500

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)	Common Stock [Member]	AOCI Attributable to Parent [Member]	Unearned Compensation [Member]	Retained Earnings [Member]	Total
BALANCE at Dec. 31, 2022	$ 8,488,689	$ 1,582,455	$ 79,892	$ 92,430,816	$ 102,581,852
BALANCE (in Shares) at Dec. 31, 2022	5,093,213
Director's Stock Plan	$ 46,193			341,277	387,470
Director's Stock Plan (in Shares)	27,716
Employee Stock Plan	$ 9,420			74,230	83,650
Employee Stock Plan (in Shares)	5,652
Restricted Stock Grant			(1,661)		(1,661)
Non-Cash, Share-Based Compensation				102,292	102,292
Net Income (Loss)				4,670,987	4,670,987
Dividends				(1,430,771)	(1,430,771)
Unrealized Gain (Loss) on Interest Rate Swap		(69,775)			(69,775)
BALANCE at Jun. 30, 2023	$ 8,544,302	1,512,680	78,231	96,188,831	106,324,044
BALANCE (in Shares) at Jun. 30, 2023	5,126,581
BALANCE at Mar. 31, 2023	$ 8,498,109	1,263,380	69,763	96,145,946	105,977,198
BALANCE (in Shares) at Mar. 31, 2023	5,098,865
Director's Stock Plan	$ 46,193			341,277	387,470
Director's Stock Plan (in Shares)	27,716
Restricted Stock Grant			8,468		8,468
Non-Cash, Share-Based Compensation				69,901	69,901
Net Income (Loss)				349,428	349,428
Dividends				(717,721)	(717,721)
Unrealized Gain (Loss) on Interest Rate Swap		249,300			249,300
BALANCE at Jun. 30, 2023	$ 8,544,302	1,512,680	78,231	96,188,831	106,324,044
BALANCE (in Shares) at Jun. 30, 2023	5,126,581
BALANCE at Dec. 31, 2023	$ 8,555,345	959,442		88,491,456	98,006,243
BALANCE (in Shares) at Dec. 31, 2023	5,133,207
Director's Stock Plan	$ 73,498			326,480	399,978
Director's Stock Plan (in Shares)	44,099
Employee Stock Plan	$ 1,450			8,033	9,483
Employee Stock Plan (in Shares)	870
Restricted Stock Grant
Non-Cash, Share-Based Compensation				178,560	178,560
Net Income (Loss)				302,469	302,469
Dividends
Unrealized Gain (Loss) on Interest Rate Swap		(159,331)			(159,331)
BALANCE at Jun. 30, 2024	$ 8,630,293	800,111		89,306,998	98,737,402
BALANCE (in Shares) at Jun. 30, 2024	5,178,176
BALANCE at Mar. 31, 2024	$ 8,555,345	948,912		89,297,343	98,801,600
BALANCE (in Shares) at Mar. 31, 2024	5,133,207
Director's Stock Plan	$ 73,498			326,480	399,978
Director's Stock Plan (in Shares)	44,099
Restricted Stock Grant	$ 1,450			8,033	9,483
Restricted Stock Grant (in Shares)	870
Non-Cash, Share-Based Compensation				108,658	108,658
Net Income (Loss)				(433,516)	(433,516)
Unrealized Gain (Loss) on Interest Rate Swap		(148,801)			(148,801)
BALANCE at Jun. 30, 2024	$ 8,630,293	$ 800,111		$ 89,306,998	$ 98,737,402
BALANCE (in Shares) at Jun. 30, 2024	5,178,176

Basis of Presentation and Conso

Basis of Presentation and Consolidation	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Business Description and Accounting Policies [Text Block]	Note 1 – Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements of Nuvera Communications, Inc. and its subsidiaries (Nuvera) have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information, rules and regulations of the Securities and Exchange Commission (SEC) and, where applicable, conform to the accounting principles as prescribed by federal and state telephone utility regulatory authorities. Certain information and disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted or condensed pursuant to such rules and regulations. In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal and recurring accruals) considered necessary for the fair presentation of the financial statements and present fairly the results of operations, financial position and cash flows for the interim periods presented as required by Regulation S-X, Rule 10-01. These unaudited interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto contained in our Annual Report on Form 10-K for the year ended December 31, 2023 The preparation of our financial statements requires our management to make estimates and judgements that affect the reported amounts of assets, liabilities, revenue and expenses, and the related disclosure of contingent assets and liabilities at the date of the financial statements and during the reporting period. Actual results may differ from these estimates. The results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the fiscal year as a whole or any other interim period. Our consolidated financial statements report the financial condition and results of operations for Nuvera and its subsidiaries in one business segment: the Communications Segment. Inter-company transactions have been eliminated from the consolidated financial statements. Revenue Recognition See Note 2 – “Revenue Recognition” for a discussion of our revenue recognition policies. Cost of Services (excluding depreciation and amortization) Cost of services (excluding depreciation and amortization expense) includes all costs related to the delivery of communication services and products. These operating costs include all costs of performing services and providing related products including engineering, network monitoring and transportation costs. Selling, General and Administrative Expenses Selling, general and administrative expenses include direct and indirect selling expenses, customer service, billing and collections, advertising and all other general and administrative costs associated our operations. Depreciation and Amortization Expense We use the group life method (mass asset accounting) to depreciate the assets of our communications companies. Communications plant acquired in a given year is grouped into similar categories and depreciated over the remaining estimated useful life of the group. When an asset is retired, both the asset and the accumulated depreciation associated with that asset are removed from the books. Due to rapid changes in technology, selecting the estimated economic life of communications plant and equipment requires a significant amount of judgment. We periodically review data on expected utilization of new equipment, asset retirement activity and net salvage values to determine adjustments to our depreciation rates. We have not made any significant changes to the lives of our assets in the two-year period ended June 30, 2024. Depreciation expense was $7,777,678 and $6,578,644 for the six months ended June 30, 2024, and 2023. The increase in depreciation expense was primarily due to an increase in our fiber-to-the-premise (FTTP) network to aid in our transition to a new advanced FTTP network, reflecting our continual investment in technology and infrastructure in order to meet our customers’ demands for our products and services. We amortize our definite-lived intangible assets over their estimated useful lives. Identifiable intangible assets that are subject to amortization are evaluated for impairment. Grant money received from governmental entities for reimbursement of capital expenditures is accounted for as a reduction from the cost of the asset. As the grant was to be used in the Company’s regulated network, the Company accounts for this funding as aid to construction as outlined in the Federal Communications Commission (FCC) Part 32 “Uniform System of Accounts for Telecommunications Companies.” Income Taxes The provision for income taxes consists of an amount for taxes currently payable and a provision for tax consequences deferred to future periods. Deferred income taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities, and their respective tax basis. Significant components of our deferred taxes arise from differences (i) in the basis of property, plant, and equipment due to the use of accelerated depreciation methods for tax purposes, as well as (ii) in partnership investments and intangible assets due to the difference between book and tax basis. Our effective income tax rate is normally higher than the United States tax rate due to state income taxes and permanent differences. We account for income taxes in accordance with GAAP, which requires an asset and liability approach to financial accounting and reporting for income taxes. As required by GAAP, we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more-likely-than-not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. As of June 30, 2024, and December 31, 2023, we had $0 of unrecognized tax benefits that if recognized would affect the tax rate. We do not expect the total amount of unrecognized tax benefits to materially change over the next twelve months. We are primarily subject to United States, Minnesota, Iowa, Nebraska, North Dakota, and Wisconsin income taxes. Tax years subsequent to 2019 remain open to examination by federal and state tax authorities. Our policy is to recognize interest and penalties related to income tax matters as income tax expense. As of June 30, 2024, and December 31, 2023, we had $0 of interest or penalties accrued that related to income tax matters. Earnings and Dividends Per Share The basic and diluted net income per share is calculated as follows: Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Basic Diluted Basic Diluted Basic Diluted Basic Diluted Net Income $ (433,516) $ (433,516) $ 349,428 $ 349,428 $ 302,469 $ 302,469 $ 4,670,987 $ 4,670,987 Weighted-average common shares outstanding 5,163,476 5,315,827 5,117,342 5,178,323 5,148,342 5,286,303 5,106,220 5,157,569 Net income per share $ (0.08) $ (0.08) $ 0.07 $ 0.07 $ 0.06 $ 0.06 $ 0.91 $ 0.91 The weighted-average shares outstanding, basic, and diluted, are calculate as follows: Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Basic Diluted Basic Diluted Basic Diluted Basic Diluted Weighted-average common 5,163,476 5,163,476 5,117,342 5,117,342 5,148,342 5,148,342 5,106,220 5,106,220 Dilutive RSU's/Options - 152,351 - 60,981 - 137,961 - 51,349 Weighted-average common 5,163,476 5,315,827 5,117,342 5,178,323 5,148,342 5,286,303 5,106,220 5,157,569 Nuvera’s Board of Directors (BOD) reviews quarterly dividend declarations based on our anticipated earnings, capital requirements and our operating and financial conditions. Recent Accounting Developments In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 provide improvements primarily related to the rate reconciliation and incomes taxes paid information included in income tax disclosures. The Company would be required to disclose additional information regarding reconciling items equal to or greater than five percent of the amount computed by multiplying pretax income (loss) by the applicable statutory tax rate. Similarly, the Company would be required to disclose income taxes paid (net of refunds received) equal to or greater than five percent of total income taxes paid (net of refunds received). The amendments in ASU 2023-09 are effective January 1, 2025, including interim periods. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company will evaluate the impact of ASU 2023-09 on its financial statements. We have implemented all new, applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. We have reviewed all other significant newly issued accounting pronouncements and determined that they are either not applicable to our business or that no material effect is expected on our financial position and results of operations.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Note 2 – Revenue Recognition The Company recognizes revenue based on the following single principles-based, five-step model that is applied to all required contracts with customers. These steps include (1) identify the contract(s) with the customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when each performance obligation is satisfied. Our revenue contracts with customers may include a promise or promises to deliver services such as broadband, video or voice services. Promised services are considered distinct as the customer can benefit from the services either on their own or together with other resources that are readily available to the customer and the Company’s promise to transfer service to the customer is separately identifiable from other promises in the contract. The Company accounts for services as separate performance obligations. Each service is considered a single performance obligation as it provides a series of distinct services that are substantially the same and have the same pattern of transfer. The transaction price is determined at contract inception and reflects the amount of consideration to which we expect to be entitled in exchange for transferring service to the customer. This amount is generally equal to the market price of the services promised in the contract and may include promotional or bundling discounts. Most of our prices are based on tariffed rates filed with regulatory bodies or standard company price lists. The transaction price excludes amounts collected on behalf of third parties such as sales taxes and regulatory fees. Conversely, nonrefundable up-front fees, such as service activation and set-up fees, which are immaterial to our overall revenues, are included in the transaction price. In determining the transaction price, we consider our enforceable rights and obligations within the contract. We do not consider the possibility of a contract being cancelled, renewed, or modified, which is consistent with Accounting Standards Codification (ASC 606-10-32-4). The transaction price is allocated to each performance obligation based on the standalone selling price of the service, net of the related discount, as applicable. Revenue is recognized when performance obligations are satisfied by transferring service to the customer as described below. Significant Judgements The Company often provides multiple services to a customer. Provision of customer premise equipment (CPE) and additional service tiers may have a significant level of integration and interdependency with the subscription voice, video, Internet, or connectivity services. Judgement is required to determine whether the provision of CPE, installation services and additional service tiers are considered distinct and accounted for separately, or not distinct and accounted for together with the subscription services. Allocation of the transaction price to the distinct performance obligations in bundled service subscriptions requires judgement. The transaction price for a bundle of services is frequently less than the sum of standalone selling prices of each individual service. Bundled discounts are allocated proportionally to the selling price of each individual service within the bundle. Standalone selling prices for the Company’s services are directly observable. Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the quarters ended June 30, 2024, and 2023: Three Months Ended June 30, 2024 2023 Voice Service¹ $ 1,327,509 $ 1,427,841 Network Access¹ 932,336 989,294 Video Service¹ 2,973,791 3,063,857 Data Service¹ 6,904,858 6,269,017 Directory² 135,850 148,031 Other Contracted Revenue³ 722,537 710,324 Other⁴ 463,469 444,146 Revenue from customers 13,460,350 13,052,510 Subsidy and other revenue 3,717,504 3,232,177 Total revenue $ 17,177,854 $ 16,284,687 ¹ Month-to-Month contracts billed and consumed in the same month. ² Directory revenue is contracted annually, however, this revenue is recognized ³ This includes long-term contracts where the revenue is recognized monthly over ⁴ This includes CPE and other equipment sales. ⁵ This includes governmental subsidies and lease revenue outside the scope of ASC For the three months ended June 30, 2024, approximately 75.66% of our total revenue was from month-to-month and other contracted revenue from customers. Approximately 21.64% of our total revenue was from revenue sources outside of the scope of ASC 606. The remaining 2.70% of total revenue was from other sources including CPE and equipment sales and installation. For the three months ended June 30, 2023, approximately 77.42% of our total revenue was from month-to-month and other contracted revenue from customers. Approximately 19.85% of our total revenue was from revenue sources outside of the scope of ASC 606. The remaining 2.73% of total revenue was from other sources including CPE and equipment sales and installation. The following table summarizes revenue from contracts with customers for the six months ended June 30, 2024, and 2023: Six Months Ended June 30, 2024 2023 Voice Services¹ $ 2,699,896 $ 2,867,867 Network Access¹ 1,900,622 2,118,379 Video Service¹ 5,963,740 6,115,154 Data Service¹ 13,580,698 12,522,213 Directory² 276,615 303,290 Other Contracted Revenue³ 1,398,371 1,365,713 Other⁴ 934,005 896,952 Revenue from customers 26,753,947 26,189,568 Subsidy and other revenue 7,369,032 6,458,066 Total revenue $ 34,122,979 $ 32,647,634 ¹ Month-to-Month contracts billed and consumed in the same month. ² Directory revenue is contracted annually, however, this revenue is recognized ³ This includes long-term contracts where the revenue is recognized monthly over ⁴ This includes CPE and other equipment sales. ⁵ This includes governmental subsidies and lease revenue outside the scope of ASC For the six months ended June 30, 2024, approximately 75.67% of our total revenue was from month-to-month and other contracted revenue from customers. Approximately 21.59% of our total revenue was from revenue sources outside of the scope of ASC 606. The remaining 2.74% of total revenue was from other sources including CPE and equipment sales and installation. For the six months ended June 30, 2023, approximately 77.47% of our total revenue was from month-to-month and other contracted revenue from customers. Approximately 19.78% of our total revenue was from revenue sources outside of the scope of ASC 606. The remaining 2.75% of total revenue was from other sources including CPE and equipment sales and installation. A significant portion of our revenue is derived from customers who may generally cancel their subscriptions at any time without penalty. As such, the amount of revenue related to unsatisfied performance obligations is not necessarily indicative of the future revenue to be recognized from our existing customer base. Revenue from customers with a contractually specified term and non-cancelable service period will be recognized over the term of such contracts, which is generally three to ten years for these types of contracts. Nature of Services Revenues are earned from our customers primarily through the connection to our advanced fiber networks, digital and commercial television (TV) programming, Internet services (high-speed broadband), and hosted and managed services. Revenues for these services are billed based on set rates for monthly service or based on the amount of time the customer is utilizing our facilities. The revenue for these services is recognized over time as the service is rendered. Voice Service – We receive recurring revenue for basic local services that enable end-user customers to make and receive telephone calls within a defined local calling area for a flat monthly fee. In addition to subscribing to basic local telephone services, our customers may choose from multiple voice service plans with a variety of custom calling features such as call waiting, call forwarding, caller identification and voicemail. Our voice over Internet protocol (VOIP) digital phone service is also available as an alternative to the traditional telephone line. Customers may generally cancel their subscriptions at any time without penalty. Each subscription service provided is accounted for as a distinct performance obligation and revenue is recognized over a one-month service period as the subscription services are delivered. Other optional services purchased by the customer are generally accounted for as a distinct performance obligation when purchased and revenue is recognized when the service is provided. Network Access – We provide access services to other communication carriers for the use of our facilities to terminate or originate long distance calls on our fiber network. Additionally, we bill monthly subscriber line charges (SLCs) to substantially all our customers for access to the public switched network. These monthly SLCs are regulated and approved by the FCC. In addition, network access revenue is derived from several federally administered pooling arrangements designed to provide support and distribute funding to us. Revenues earned from other communication carriers accessing our network are based on the utilization of our network by these carriers as measured by minutes of use on the network or special access to the network by the individual carriers monthly. Revenues are billed at tariffed access rates for both interstate and intrastate calls and are recognized into revenue monthly based on the period the access was provided. The National Exchange Carriers Association (NECA) pools and redistributes the SLCs to various communication providers through the Connect America Fund (CAF). These revenues are earned and recognized into revenue on a monthly basis. Any adjustments to these amounts received by NECA are adjusted for in revenue upon receipt of the adjustment. On December 12, 2023, the Company announced that it confirmed eligibility for Consumer Broadband-only Loop Support (CBOL) funding through the Universal Service Administration Company (USAC). The incremental funding will be used to continue to support the Company’s multi-year fiber construction initiative. The Company began receiving a monthly benefit in November of 2023 with the first payment receipt confirmed in December. On an annualized basis this new program will provide $3.9 million of new funding based on the tariff filing and the Company’s expected line counts. The monthly CBOL subsidy formula is reviewed and subject to revision on an annual basis and subject to change based on updated USAC funding criteria July 1 of each year. Video Service – We provide a variety of enhanced video services on a monthly recurring basis to our customers. Depending on geographical market availability, our video services range from limited basic service to advanced digital TV, which includes several plans each with hundreds of local, national music channels including premium and pay-per-view channels as well as video-on-demand service. Certain customers may also subscribe to our advanced video services, which consist of high-definition TV, digital video recorders (DVR) and Whole Home DVR. Our Whole Home DVR allows customers the ability to watch recorded shows on any TV in the house, record multiple shows at one time and utilize an intuitive on-screen guide and user interface. Video subscribers also have access to our TV Everywhere service which allows subscriber access to full episodes of available shows, movies and live screens using a computer or mobile device. We also receive monthly recurring revenue from our subscribers for providing commercial TV programming in competition with cable television services (CATV), satellite dish TV and off-air TV service providers. Customers may generally cancel their subscriptions at any time without penalty. Each subscription service provided is accounted for as a distinct performance obligation and revenue is recognized over a one-month service period as the subscription services are delivered. Other optional services purchased by the customer are generally accounted for as a distinct performance obligation when purchased and revenue is recognized when the service is provided. Data Service – We provide high speed Internet to business and residential customers depending on the nature of the network facilities that are available, the level of service selected and the location. Our revenue is earned based on the offering of various flat packages based on the level of service, data speeds and features. We also provide e-mail and managed services, such as web hosting and design, on-line file back up and on-line file storage. Data customers may generally cancel their subscriptions at any time without penalty. Each subscription service provided is accounted for as a distinct performance obligation and revenue is recognized over a one-month service period as the subscription services are delivered. Other optional services purchased by the customer are generally accounted for as a distinct performance obligation when purchased and revenue is recognized when the service is provided. Directory – Our directory publishing revenue in our telephone directories recurs monthly and is recognized as revenue on a monthly basis. Other Contracted Revenue - Managed services and certain other data customers include advanced fiber-delivered communications and managed information technology solutions to mainly business customers, as well as high-capacity last-mile data connectivity services to wireless and wireline carriers. Services are primarily offered on a subscription basis with a contractually specified and non-cancelable service period. The non-cancelable contract terms for these customers generally range from three to ten years. Each subscription service provided is accounted for as a distinct performance obligation and revenue is recognized ratably over the contract period as the subscription services are delivered. These services are billed as monthly recurring charges to customers. Other – We also generate revenue from the sales, service and installation of CPE and other services. Sales and service of CPE are billed and recognized into revenue once the sale or service is complete or delivered. These sales and services are generally short-term in nature and are completed within one month. Other revenues are immaterial to our total revenues. Subsidy and Other Revenue outside the Scope of ASC 606 – We receive subsidies from governmental entities to operate and expand our advanced fiber networks. In addition, we have revenue from leasing arrangements. Both of these revenue streams are outside of the scope of ASC 606. Interstate access rates are established by a nationwide pooling of companies known as NECA. The FCC established NECA in 1983 to develop and administer interstate access service rates, terms, and conditions. Revenues are pooled and redistributed based on a company's actual or average costs. There has been a change in the composition of interstate access charges in recent years, shifting more of the charges to the end user and reducing the amount of access charges paid by the Interexchange Carriers (IXC’s). We believe this trend will continue. Intrastate access rates are filed with state regulatory commissions in Minnesota and Iowa. The Company currently receives funding based on the Alternative Connect America Cost Model (A-CAM) as described below, except for Scott-Rice Telephone Co. (Scott-Rice), which receives funding from the Federal Universal Service Fund (FUSF). Scott-Rice’s settlements from the pools are based on nationwide average schedules, which includes the pooling and redistribution of revenues based on a company’s actual or average costs as described below. A-CAM As described above, with the exception of Scott-Rice, the remainder of our companies receive funding from A-CAM. Per the FCC Public Notice DA 19-115, the Company receives A-CAM support and has corresponding service deployment obligations under that program. The Company annually receives (i) $596,084 for its Iowa operations and (ii) $8,354,481 for its Minnesota operations. The Company will receive the A-CAM support for a period of 10 years, which started in 2019. The Company uses the funding that it receives through the A-CAM program to meet its defined broadband build-out obligations, which the Company is currently completing. On September 29, 2023, Nuvera announced that it had notified the FCC that the Company had decided to remain on the current A-CAM funding, rather than moving to the Enhanced A-CAM (E-ACAM) program that the FCC introduced earlier in 2023. A-CAM and E-ACAM are FCC administered programs to subsidize the deployment of broadband to rural areas. E-ACAM is a successor to this program which requires participating carriers to offer broadband and voice services at speeds of 100/20 Mbps or faster to all E-ACAM required locations within its study area. Broadband providers were required to choose one of the two funding options and notify the FCC by September 29, 2023. Accounts Receivable, Contract Assets and Contract Liabilities The following table provides information about our receivables, contracts assets and contract liabilities from revenue contracts with our customers: June 30, 2024 December 31, 2023 Accounts receivable, net - beginning balance $ 1,966,012 $ 1,477,692 Accounts receivable, net - ending balance 1,769,009 1,966,012 Contract assets - beginning balance 1,458,631 794,193 Contract assets - ending balance 1,489,265 1,458,631 Contract liabilities - beginning balance 551,995 626,306 Contract liabilities - ending balance 395,570 551,995 Accounts Receivable A receivable is recognized in the period the Company provides goods and services when the Company’s right to consideration is unconditional. Payment terms on invoiced amounts are generally 30-60 days. Contract Assets Contract assets include costs that are incremental to the acquisition of a contract. Incremental costs are those that result directly from obtaining a contract or costs that would not have been incurred if the contract had not been obtained, which primarily relates to sales commissions. We defer and amortize these costs over the expected customer life as the contract obligations are satisfied. We determined that the expected customer life is the expected period of benefit as the commission on the renewal contract is commensurate with the commission on the initial contract. During the quarters ended June 30, 2024, and 2023, the Company recognized expenses of $163,880 and $108,985, respectively, related to deferred contact acquisition costs. During the six months ended June 30, 2024, and 2023 the Company recognized expenses of $322,987 and $199,736, respectively, related to deferred contact acquisition costs. Short-term contact assets are included in current assets under prepaid expenses and other current assets. Long-term contract assets are included in investments and other assets under other assets. Contract Liabilities Contract liabilities include deferred revenues related to advanced payments for services and nonrefundable, upfront service activation and set-up fees, which are generally deferred. In addition, contract liabilities include customer deposits that are not recognized as revenue but are instead returned to the customer after a holding period. Short-term contract liabilities include deferred revenues for advanced payments for managed services and other long-term contracts. This includes the current portion of the deferred revenues that will be recognized monthly within one year. Short-term contract liabilities are included in current liabilities under other accrued liabilities. Long-term contract liabilities include deferred revenues for advanced payments for managed services and other long-term contracts. This includes the portion longer than one year and the corresponding deferred revenues are recognized as revenue on a monthly basis based on the term of the contract. Long-term contract liabilities are included in noncurrent liabilities under other accrued liabilities. During the three months ended June 30, 2024, and 2023, the Company recognized revenues of $72,930 and $61,779, respectively, related to deferred revenues. During the six months ended June 30, 2024, and 2023, the Company recognized revenues of $237,858 and $248,418, respectively, related to deferred revenues. Performance Obligations ASC 606, Revenue from Contracts with Customers, requires that the Company disclose the aggregate amount of the transaction price that is allocated to remaining performance obligations that are unsatisfied as of June 30, 2024. The guidance provides certain practical expedients that limit this requirement. The service revenue contracts of the Company meet the following practical expedients provided by ASC 606: 1. The performance obligation is part of a contract that has an original expected duration of one year or less. 2. Revenue is recognized from the satisfaction of the performance obligations in the amount billable to the customer in accordance with ASC 606-10-55-18. The Company has elected these practical expedients. Performance obligations related to our service revenue contracts are generally satisfied over time. For services transferred over time, revenue is recognized based on amounts invoiced to the customer as the Company has concluded that the invoice amount directly corresponds with the value of services provided to the customer. Management considers this a faithful depiction of the transfer of control as services are substantially the same and have the same pattern of transfer over the life of the contract. As such, revenue related to unsatisfied performance obligations that will be billed in future periods has not been disclosed.

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Disclosure Text Block [Abstract]
Lessee, Operating Leases [Text Block]	Note 3 – Leases Under FASB’s ASU 2016-02, “Leases,” which, together with its related clarifying ASUs, provided revised guidance for lease accounting and related disclosure requirements and established a right-to-use (ROU) model that requires lessees to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition. The ASU also requires disclosures to allow financial statement users to better understand the amount, timing and uncertainty of cash flows arising from leases. These disclosures include qualitative requirements, providing additional information about the amounts recorded in the financial statements. The following tables include the ROU assets and operating lease liabilities as of June 30, 2024, and December 31, 2023. Short-term operating lease liabilities are included in current liabilities in other accrued liabilities. Long-term operating lease liabilities are included in noncurrent liabilities in other accrued liabilities. Right of Use Assets Balance Balance Operating Lease Right-Of-Use Assets $ 1,158,686 $ 1,348,290 Operating Lease Liabilities Balance Balance Short-Term Operating Lease Liabilities $ 214,814 $ 352,969 Long-Term Operating Lease Liabilities 967,558 1,029,910 Total $ 1,182,372 $ 1,382,879 Maturity analysis under these lease agreements are as follows: Maturity Analysis Balance 2024 (remaining) $ 160,573 2025 243,974 2026 200,777 2027 151,629 2028 153,824 Thereafter 613,091 Total 1,523,868 Less Imputed interest (341,496) Present Value of Operating Leases $ 1,182,372 The following summarizes other information related to leases for the quarter ended June 30, 2024, as follows: Weighted Average Remaining Lease Term (Years) 7.62 Weighted Average Discount Rate 6.32% We amortize our leases over the shorter of the term of the lease or the useful life of the asset. Lease expenses for the three and six months ended June 30, 2024, were $149,337 and $297,333. Lease expenses for the three and six months ended June 30, 2023, were $105,098 and $210,706.

Financial Derivative Instrument

Financial Derivative Instruments and Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 4 – Financial Derivative Instruments and Fair Value Measurements We have adopted the rules prescribed under GAAP for our financial assets and liabilities. GAAP includes a fair value hierarchy that is intended to increase consistency and comparability in fair value measurements and related disclosures. The fair value hierarchy is based on inputs to valuation techniques used to measure fair value that is either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. The fair value hierarchy consists of the following three levels: Level 1: Inputs are quoted prices in active markets for identical assets or liabilities. Level 2: Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable and market-corroborated inputs that are derived principally from or corroborated by observable market data. Level 3: Inputs are derived from valuation techniques where one or more significant inputs or value drivers are unobservable. We have used financial derivative instruments to manage our overall cash flow exposure to fluctuations in interest rates. We accounted for derivative instruments in accordance with GAAP that requires derivative instruments to be recorded on the balance sheet at fair value. Changes in fair value of derivative instruments must be recognized in earnings unless specific hedge accounting criteria are met, in which case, the gains and losses are included in other comprehensive income rather than in earnings. We have entered into interest rate swap agreements (IRSAs) with our lender, CoBank, ACB (CoBank) to manage our cash flow exposure to fluctuations in interest rates. These instruments are designated as cash flow hedges and are effective at mitigating the risk of fluctuations on interest rates in the marketplace. Any gains or losses related to changes in the fair value of these derivatives are accounted for as a component of accumulated other comprehensive gain (loss) for as long as the hedge remains effective. The fair value of our IRSAs is discussed in Note 7 – “Interest Rate Swaps”. The fair value of our swap agreements was determined based on Level 2 inputs. The fair value of our Goodwill as discussed in Note 5 – “Goodwill and Intangibles”. The fair value of our Goodwill was determined based on Level 3 inputs. Other Financial Instruments Other Investments - We conducted an evaluation of our investments in all of our investees in connection with the preparation of our audited financial statements as of December 31, 2023. As of June 30, 2024, we believe the carrying value of our investments is not impaired. Debt – We estimate the fair value of our long-term debt based on the discounted future cash flows we expect to pay using current rates of borrowing for similar types of debt. Fair value of the debt approximates carrying value. Other Financial Instruments - Our financial instruments also include cash equivalents, trade accounts receivable and accounts payable where the current carrying amounts approximate fair market value.

Goodwill and Intangibles

Goodwill and Intangibles	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	Note 5 – Goodwill and Intangibles We account for goodwill and other intangible assets under GAAP. Under GAAP, goodwill and intangible assets with indefinite useful lives are not amortized but are instead tested for impairment (i) on at least an annual basis and (ii) when changes in circumstances indicate that the fair value of goodwill may be below its carrying value. These circumstances include but are not limited to (i) a significant adverse change in the business climate, (ii) unanticipated competition or (iii) an adverse action or assessment by a regulator. Determining impairment involves estimating the fair value of a reporting unit using a combination of (i) the income or discounted cash flow approach and (ii) the market approach that utilizes comparable companies’ data. If the carrying amount of a reporting unit exceeds its fair value, the amount of the impairment loss must be measured. The impairment loss is calculated by comparing the implied fair value of the reporting unit’s goodwill to its carrying amount. In calculating the implied fair value of the reporting unit’s goodwill, the fair value of the reporting unit is allocated to all the assets and liabilities of the reporting unit. The excess of the fair value of a reporting unit over the amount assigned to its other assets and liabilities is the implied value of goodwill. We recognize impairment loss when the carrying amount of goodwill exceeds its implied fair value. Our goodwill totaled $40,603,029 as of June 30, 2024, and December 31, 2023. In 2023 and 2022, we engaged an independent valuation firm to aid in the completion of an annual impairment test for existing goodwill acquired. For 2023 and 2022, the testing resulted in no impairment to goodwill for Scott-Rice and Sleepy Eye Telephone Company and no impairment to goodwill for Hutchinson Telephone Company (HTC) for 2022 as the determined fair value was sufficient to pass the impairment test. For 2023, the testing resulted in an impairment to goodwill for HTC of $9.3 million as the determined fair value was not sufficient to pass the impairment test. Our intangible assets subject to amortization consist of acquired customer relationships, regulatory rights, and trade names. We amortize intangible assets with finite lives over their respective estimated useful lives. Identifiable intangible assets that are subject to amortization are evaluated for impairment. In addition, we periodically reassess the carrying value, useful lives, and classifications of our identifiable intangible assets. The components of our identified intangible assets are as follows: June 30, 2024 December 31, 2023 Gross Gross Useful Carrying Accumulated Carrying Accumulated Lives Amount Amortization Amount Amortization Definite-Lived Intangible Assets Customers Relationships 14-15 yrs $ 42,878,445 $ 32,865,188 $ 42,878,445 $ 32,053,361 Regulatory Rights 15 yrs 4,000,000 4,000,000 4,000,000 4,000,000 Video Franchise 3,000,000 428,580 3,000,000 214,290 Trade Name 3-5 yrs 310,106 310,106 310,106 310,106 Indefinitely-Lived Intangible Assets Spectrum 877,814 - 877,814 - Total $ 51,066,365 $ 37,603,874 $ 51,066,365 $ 36,577,757 Net Identified Intangible Assets $ 13,462,491 $ 14,488,608 Amortization expense related to the definite-lived intangible assets was $1,026,117 and $842,837 for the six months ended June 30, 2024, and 2023. Amortization expense for the remaining six months of 2024 and the five years subsequent to 2024 is estimated to be: • (July 1 – December 31) $ 1,026,117 • 2025 $ 2,047,312 • 2026 $ 2,042,389 • 2027 $ 1,335,247 • 2028 $ 1,335,247 • 2029 $ 1,335,247

Secured Credit Facility

Secured Credit Facility	6 Months Ended
	Jun. 30, 2024
Secured Credit Facility Abstract
Secured Credit Facility [Text Block]	Note 6 – Secured Credit Facility On June 21, 2024, Nuvera and CoBank entered into (i) an Agreement Regarding Amendments to Loan Documents and (ii) an Amended and Restated Revolving Loan Promissory Note. The agreements amended our existing credit facility with CoBank and secured a credit facility in the aggregate principal amount of $180.0 million. Under the Agreements, among other things, (i) the Company received a $125.0 million term loan to replace existing debt, (ii) a $25.0 million delayed draw term loan, (iii) the Company’s revolving loan was decreased from $40.0 million to $30.0 million, (iv) the maturity dates of the term loans and revolving loan were set at June 21, 2029, and (v) the Company’s operating subsidiaries agreed to extend their previous guarantees, security interests and mortgages to cover the increased amount of the credit facility. The financing was secured to facilitate the Company’s advanced fiber-build plans announced on December 15, 2021. Refer to the Company’s 8-K filing with the SEC on June 25, 2024, for further details regarding the credit agreements with CoBank. On December 21, 2023, Nuvera and CoBank entered into (i) an Agreement Regarding Amendments to Loan Documents and (ii) an Amended and Restated Revolving Loan Promissory Note. The agreements amended our existing credit facility with CoBank and increased the Company’s existing credit facility from an aggregate principal amount of $130.0 million to $140.0 million. Under the Agreements, among other things, (i) the Company’s revolving loan was increased from $30.0 million to $40.0 million and (ii) the Company’s operating subsidiaries agreed to extend their previous guarantees, security interests and mortgages to cover the increased amount of the revolving note. The financing was secured to facilitate the Company’s advanced fiber-build plans announced on December 15, 2021. Refer to the Company’s 8-K filing with the SEC on December 21, 2023, for further details regarding the credit agreements with CoBank. Under the credit agreement, the Company and its respective subsidiaries have entered into security agreements under which substantially all the assets of Nuvera and its respective subsidiaries have been pledged to CoBank as collateral. In addition, Nuvera and its respective subsidiaries have guaranteed all the obligations under the credit facility. The credit agreement contains certain customary events of default, which include failure to make payments when due, the material inaccuracy of representations or warranties, failure to observe or perform certain covenants, cross-defaults, bankruptcy and insolvency-related events, certain judgments, certain ERISA-related events, or a change in control (as defined in the credit agreement). New Credit Agreement: ● TERM A-1 LOAN - $125,000,000 term note with interest payable quarterly. The final maturity date of this note is June 21, 2029. Eight quarterly principal payments of $781,250 are due commencing June 30, 2026, through March 31, 2028, and four quarterly principal payments of $1,562,500 commencing on June 30, 2028, through maturity date. A final balloon payment of $112,500,000 is due at maturity of this note on June 21, 2029. ● DELAYED DRAW TERM LOAN - $25,000,000 Delayed Draw Term Loan with interest on any outstanding amounts payable quarterly. The final maturity date of this loan is June 21, 2029. Eight quarterly principal payments of 0.625% of the outstanding loan balance are due commencing June 30, 2026, through March 31, 2028, and four quarterly principal payments of 1.250% of the outstanding loan balance commencing on June 30, 2028, through maturity date. A final balloon payment of the balance of the Delayed Draw Term Loan is due at maturity of this note on June 21, 2029. We currently have drawn $0 on this Delayed Draw Term Loan as of June 30, 2024. ● REVOLVING LOAN - $30,000,000 revolving loan with interest payable quarterly. The final maturity date of this note is June 21, 2029. We currently have drawn $7,634,124 on this revolving note as of June 30, 2024. The term loan borrowings initially bear interest at a “Margin for Base Rate Loans” of 2.75% above the applicable base rate. The margin for base rate loans for term loans increases as our “Leverage Ratio” increases and decreases as our “Leverage Ratio” decreases. The revolving loan borrowings initially bear interest at a “Margin for Base Rate Loans” of 2.75% above the applicable base rate. The margin for base rate loans for revolving loans increases as our “Leverage Ratio” increases and decreases as our “Leverage Ratio” decreases. We generally use variable-rate debt to finance our operations, capital expenditures and acquisitions. These variable-rate debt obligations expose us to variability in interest payments due to changes in interest rates. The terms of our credit facility with CoBank require that we enter into interest rate agreements designed to protect us against fluctuations in interest rates, in an aggregate principal amount and for a duration determined under the credit facility. Under the new credit facility, Nuvera can enter into IRSAs in connection with amounts borrowed from CoBank. In connection with the closing of the new credit facility, the Company “rolled over” its two exiting IRSAs. As described in Note 7 – “Interest Rate Swaps,” on August 1, 2018, we entered into an IRSA with CoBank covering 25 percent of our existing debt balance or $16,137,500 of our aggregate indebtedness to CoBank on August 1, 2018. As of June 30, 2024, our IRSA covered $9,221,900, with a weighted average interest rate of 6.71%. As described in Note 7 – “Interest Rate Swaps,” on August 29, 2019, we entered into a second IRSA with CoBank covering an additional $42,000,000 of our aggregate indebtedness to CoBank on August 29, 2019. As of June 30, 2024, our IRSA covered $25,847,340, with a weighted average interest rate of 5.04%. Our remaining outstanding debt of $97.6 million remains subject to variable interest rates at an effective weighted average interest rate of 9.27%, as of June 30, 2024. As of June 30, 2024 our additional delayed draw term loan of $25.0 million and unused revolving credit facility of $22.4 million are subject to an unused commitment fee of 0.50% annually, until drawn. Once drawn, this debt would be subject to an effective weighted average interest rate based on current rate of interest in effect at the time. Our loan agreements include restrictions on our ability to pay cash dividends to our stockholders. However, we are allowed to pay dividends in an amount up to $3,000,000 in any year as long as no default or event of default has occurred, and our current Total Leverage Ratio is equal to 4.25:1.00 or less. In addition, we are allowed to pay dividends in an unlimited amount in any year as long as no default or event of default has occurred, and our current Total Leverage Ratio is equal to 3.50:1.00 or less. Our current Total Leverage Ratio as of June 30, 2024, was 5.10. Our maximum Total Leverage Ratio under the new loan facility is 6.00:1.00. Our credit facility requires us to comply with specified financial ratios and tests. These financial ratios include Total Leverage Ratio, debt service coverage ratio and equity to total assets ratio. On June 30, 2024, we were in compliance with all the stipulated financial ratios in our loan agreements. There are security and loan agreements underlying our current CoBank credit facility that contain restrictions on our distributions to stockholders and investment in, or loans, to others. Also, our credit facility contains restrictions that, among other things, limits or restricts our ability to enter into guarantees and contingent liabilities, incur additional debt, issue stock, transact asset sales, transfers, or dispositions, and engage in mergers and acquisitions, without CoBank approval.

Interest Rate Swaps

Interest Rate Swaps	6 Months Ended
	Jun. 30, 2024
Disclosure Text Block Supplement [Abstract]
Financial Instruments Disclosure [Text Block]	Note 7 – Interest Rate Swaps We assess interest rate cash flow risk by continually identifying and monitoring changes in interest rate exposures that may adversely affect expected future cash flows and by evaluating hedging opportunities. We generally use variable-rate debt to finance our operations, capital expenditures and acquisitions. These variable-rate debt obligations expose us to variability in interest payments due to changes in interest rates. The terms of our credit facility with CoBank required that we enter into interest rate agreements designed to protect us against fluctuations in interest rates, in an aggregate principal amount and for a duration determined under the credit facility. Under the new credit facility, Nuvera can enter into IRSAs in connection with amounts borrowed from CoBank. In connection with the closing of the credit facility, the Company “rolled over” its two exiting IRSAs. To meet this objective, we have entered into an IRSA with CoBank covering 25 percent of our then existing outstanding debt balance or $16,137,500 of our aggregate indebtedness to CoBank on August 1, 2018. The swap effectively locked in the interest rate on 25 percent of our variable-rate debt through July 2025. Under this IRSA, we have changed the variable-rate cash flow exposure on the debt obligations to fixed cash flows. Under the terms of the IRSA, we pay a fixed contractual interest rate and (i) make an additional payment if the Secured Overnight Financing Rate (SOFR) variable rate payment is below a contractual rate or (ii) receive a payment if the SOFR variable rate payment is above the contractual rate. On August 29, 2019, we entered into a second IRSA with CoBank covering an additional $42,000,000 of our then aggregate indebtedness to CoBank on August 29, 2019. The swap effectively locked in a significant portion of our variable-rate debt through July 2025. Under this IRSA, we have changed the variable rate cash flow exposure on the debt obligations to fixed cash flows. Under the terms of the IRSA, we pay a fixed contractual interest rate and (i) make an additional payment if the SOFR variable rate payment is below a contractual rate or (ii) receive a payment if the SOFR variable rate payment is above the contractual rate. Each month, we make interest payments to CoBank under its loan agreements based on the current applicable SOFR plus the contractual SOFR margin then in effect with respect to the loan, without reflecting our IRSAs. At the end of each calendar month, CoBank adjusts our aggregate interest payments based on the difference, if any, between the amounts paid by us during the month and the current effective interest rate. Net interest payments are reported in our consolidated income statement as interest expense. Our IRSAs under our credit facilities both qualify as cash flow hedges for accounting purposes under GAAP. We reflect the effect of these hedging transactions in the financial statements. The unrealized gain/loss is reported in other comprehensive income. If we terminate our IRSAs, the cumulative change in fair value at the date of termination would be reclassified from accumulated other comprehensive gain (loss), which is classified in stockholders’ equity, into earnings on the consolidated statements of income. The fair value of the Company’s IRSAs was determined based on valuations received from CoBank and were based on the present value of expected future cash flows using discount rates appropriate with the terms of the IRSAs. The fair value indicates an estimated amount we would be required to pay if the contracts were canceled or transferred to other parties. On June 30, 2024, the fair value asset of these swaps was $1,119,663, which has been recorded net of deferred tax of $319,552, resulting in the $800,111 in the accumulated other comprehensive income gain. On June 30, 2023, the fair value asset of these swaps was $2,116,820, which has been recorded net of deferred tax of $604,140, resulting in the $1,512,680 in accumulated other comprehensive income gain.

Other Investments

Other Investments	6 Months Ended
	Jun. 30, 2024
Other Investments [Abstract]
Other Investments [Text Block]	Note 8 – Other Investments We are a co-investor with other communication companies in several partnerships and limited liability companies. These joint ventures make it possible to offer services to customers, including digital video services and fiber transport services that we would have difficulty offering on our own. These joint ventures also make it possible to invest in modern technologies with a lower level of financial risk. We use the equity method of accounting for these investments that reflects original cost and recognition of our share of the net income or losses from the respective operations. See Note 11 – “Segment Information” for a listing of our investments. In 2023, Nuvera recognized a gain of $4,060,775, net of escrow true ups, after the sale, in book value in connection with the sale of the FiberComm, LC (Fibercomm) investment. In 2024, Nuvera recognized a loss of $242,257 with the settlement of the escrow account for Fibercomm. The FASB requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. As of June 30, 2024, and 2023, respectively, the Company had not recorded any other gains or losses on our investments.

Guarantees

Guarantees	6 Months Ended
	Jun. 30, 2024
Guarantees [Abstract]
Guarantees [Text Block]	Note 9 – Guarantees On March 31, 2023, Nuvera and the other owners of FiberComm sold 100% of their investment in FiberComm to ImOn Communications, LLC. FiberComm has been providing high quality Internet and voice services to businesses in the Sioux City, Iowa market for over 20 years. Nuvera owned a 20% interest in FiberComm through its wholly owned subsidiary Peoples Telephone Company (PTC). Nuvera announced the execution of the FiberComm sale agreement in January 2023. Prior to the sale of Nuvera’s equity investment in FiberComm, Nuvera had guaranteed a portion of a ten-year loan owed by FiberComm, set to mature on April 30, 2026. On March 31, 2023, upon closing of the sale, the loan was paid and Nuvera was released from their guarantee of loan.

Incentive and Retirement Plans

Incentive and Retirement Plans	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Retirement Benefits [Text Block]	Note 10 – Incentive and Retirement Plans In 2006, we implemented an Employee Incentive Plan for employees other than executive officers and a Management Incentive Plan for executive officers (collectively the 2006 Plan). In 2015, our BOD adopted, and our shareholders approved our 2015 Employee Stock Plan (2015 Plan), which permits the issuance of up to 200,000 shares of our Common Stock in stock awards for performance under the 2006 Plan. Each qualified employee of the Company may elect to receive up to 50% of their incentive compensation in Company Common Stock in lieu of cash. Each Company executive officer is required to receive 50% of their incentive compensation earned in Company Common Stock in lieu of cash. As of June 30, 2024, 148,877 shares remain available to be issued under the 2015 Plan.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 11 – Segment Information We operate in the Communications Segment and have no other significant business segments. The Communications Segment consists of voice, data and video communication services delivered to the customer over our advanced fiber communications network. No single customer accounted for a material portion of our consolidated revenues. The Communications Segment operates the following communications companies and has investment ownership interests as follows: Communications Segment ● Communications Companies: • Nuvera Communications, Inc., the parent company. • Hutchinson Telephone Company, a wholly owned subsidiary of Nuvera. • Peoples Telephone Company, a wholly owned subsidiary of Nuvera. • Scott-Rice Telephone Co., a wholly owned subsidiary of Nuvera. • Sleepy Eye Telephone Company, a wholly owned subsidiary of Nuvera. • Western Telephone Company, a wholly owned subsidiary of Nuvera; and • Hutchinson Telecommunications, Inc., a wholly owned subsidiary of HTC, located in Litchfield and Glencoe, Minnesota. ● Our investments and interests in the following entities include some management responsibilities: • Broadband Visions, LLC (BBV) – 24.30% subsidiary equity ownership interest. BBV provides video headend and Internet services. • Independent Emergency Services, LLC (IES) – 14.29% subsidiary equity ownership interest. IES is a provider of E-911 services to the State of Minnesota as well as a number of counties located in Minnesota; and • Fiber Minnesota, LLC (FM) – 7.64% subsidiary equity ownership interest. FM is a Minnesota state-wide network that provides connectivity for regional businesses.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 12 – Commitments and Contingencies On December 15, 2021, the Company announced plans for a fiber network initiative. The Company has made commitments to purchase materials and entered into contracts with various parties to successfully build this next-generation fiber network. As of June 30, 2024, the Company had outstanding contract amounts of approximately $16.2 million, with estimated completions of approximately $10.0 million in 2024 and $6.2 million in 2025. We are involved in certain contractual disputes in the ordinary course of business. We do not believe the ultimate resolution of any of these existing matters will have a material adverse effect on our financial position, results of operations or cash flows. Our capital budget for 2024 is approximately $41.1 million and will be financed through internally generated funds and our credit facility with CoBank debt financing.

Broadband Grants

Broadband Grants	6 Months Ended
	Jun. 30, 2024
Broadband Grants Abstract
Broadband Grants [TextBlock]	Note 13 – Broadband Grants On March 5, 2024, the Company was awarded a grant from the Minnesota Department of Employment and Economic Development (DEED). This Low-Density Broadband grant will provide up to 75% of the total cost of building fiber connections to homes and businesses for improved high-speed Internet in unserved and underserved communities in the Company’s service area. The Company is eligible to receive $1,884,429 of approximately $2,512,572 total project costs. The Company will provide the remaining 25% of the matching funds. The Company has not received any funds for this project as of June 30, 2024. In 2023, the Company was awarded a grant from Redwood County under the Community Development Block Grant administered by the Southwest Minnesota Housing Partnership. The grant was to be used to build broadband fiber to residential customers in areas that qualify as low to moderate income. The Company was awarded $1,559,643 to complete this project. The Company has received $1,559,643 for this project as of June 30, 2024. On December 8, 2022, the Company was awarded four broadband grants from the DEED. The grants will provide up to 45.0% to 50.0% of the total cost of building fiber connections to homes and businesses for improved high-speed Internet in unserved and underserved communities and businesses in the Company’s service area. The Company is eligible to receive $8,594,688 of approximately $18,139,749 total project costs. The Company will provide the remaining 50.0% to 55.0% matching funds. Construction and expenditures for these projects began in the spring of 2023. The Company has received $223,213 for these projects as of June 30, 2024. In 2022, the Company was awarded two separate county grants from Nicollet County and Goodhue County to cover costs of building fiber connections to homes and businesses for improved high-speed Internet in unserved and underserved communities. The Company was initially eligible to receive up to $2,139,562 to complete these projects. The Company has received $1,345,855 for these projects as of June 30, 2024. The Goodhue County project was completed under budget and the Company is now eligible to receive up to $2,088,485 to complete these projects. On January 29, 2021, the Company was awarded five broadband grants from the DEED. The grants will provide up to 35.4% of the total cost of building fiber connections to homes and businesses for improved high-speed Internet in unserved or underserved communities and businesses in the Company’s service area. The Company is eligible to receive $1,918,037 of the approximately $5,419,617 total project costs. The Company will provide the remaining 64.6% matching funds. Construction and expenditures for these projects began in the spring of 2021. The Company has received $1,918,037 for these projects as of June 30, 2024.

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Payment Arrangement [Text Block]	Note 14 – Stock Based Compensation The Company’s 2017 Omnibus Stock Plan (2017 OSP) was adopted by the Company’s BOD on February 24, 2017, and approved by the Company’s shareholders at the May 25, 2017, Annual Meeting of Shareholders. The 2017 OSP enables the Company to grant stock incentive awards to current and new employees, including officers, and to Board members and service providers. The 2017 OSP permits stock incentive awards in the form of Options (incentive and non-qualified), stock appreciation rights, restricted stock, restricted stock units (RSUs), performance stock, performance units, and other awards in stock or cash. The 2017 OSP permits the issuance of up to 625,000 shares of our Common Stock in any of the above stock awards. As of June 30, 2024, 47,499 shares remain available for future grant under the 2017 OSP. Starting in 2017, our BOD and Compensation Committee granted RSU awards to the Company’s executive officers under the 2017 OSP. We recognize share-based compensation expense for these RSUs over the vesting period of the RSUs, which is determined by our BOD. Forfeitures of RSUs are accounted for as they occur. Each executive officer was eligible to receive time-based RSUs and performance based RSUs. The time-based RSUs are computed as a percentage of the executive officer’s base salary based on the closing price of Company common stock on a date set by the BOD, and vest over a three-year period, subject to the executive officer being employed by the Company on the vesting date. The performance based RSUs are also computed as a percentage of the executive officer’s base salary based on the closing price of Company common stock on a date set by the BOD and vest over a three-year period based on the Company attaining an average Return on Invested Capital (ROIC) over that three-year period. The ROIC target is set by the BOD. Executive officers may earn more or fewer performance based RSUs based on if the actual ROIC achieved over the time period is more or less than target. Upon vesting of either time-based or performance based RSUs, the executive officers are issued Common Stock in exchange for the RSUs. RSUs currently issued, exercised, or forfeited is as follows: Targeted Closing Time-Based Performance-Based Stock Vesting RSU's RSU's Price Date Balance at December 31, 2022 3,364 4,701 Forfeited (516) (923) Exercised (2,848) (3,778) $ 10.48 12/31/2023 Balance at December 31, 2023 0 - Forfeited - - Exercised - - Balance at June 30, 2024 0 0 Option Awards In 2022, after considerable study, discussion and interaction with our consultants, the Compensation Committee decided to replace RSUs with non-qualified stock Options (Options). The Compensation Committee believes that grants of Options more directly align management long-term equity compensation with increased shareholder value creation at a time when the Company is engaged in significant investment and transformation as part of its long-term strategy. The Compensation Committee also determined to extend the grant of Options to include Named Executive Officers, senior employee directors and other employee directors as key members of the Company leadership team and contributors of our overall success. As previously disclosed, the number of Options awarded was computed as a percentage of the employee’s base salary using a Black-Scholes formula using an exercise price equal to the closing price of Company common stock of $11.00 on March 28, 2024, $14.70 on March 31, 2023, and $21.20 on April 11, 2022. The 2024 Options will vest one-third each on March 31, 2025, 2026 and 2027. The 2023 Options will vest one-third each on March 31, 2024, 2025 and 2026. The 2022 Options will vest one-third each on April 11, 2023, 2024 and 2025. Closing Stock Vesting Options Price Date Balance at December 31, 2021 - Issued 40,577 $ 21.20 4/11/2023 Issued 40,583 $ 21.20 4/11/2024 Issued 40,583 $ 21.20 4/11/2025 Balance at December 31, 2022 121,743 Issued 51,431 $ 14.70 3/31/2024 Issued 51,431 $ 14.70 3/31/2025 Issued 51,432 $ 14.70 3/31/2026 Balance at March 31, 2023 276,037 Issued 35,817 $ 11.00 3/28/2025 Issued 35,818 $ 11.00 3/28/2026 Issued 35,818 $ 11.00 3/28/2027 Balance at June 31, 2024 383,490 The grant date fair value of employee stock Option awards is determined using the Black Scholes Option-pricing model. The following assumptions were used during the following periods: 2024 Grants 2023 Grants 2022 Grants Exercise Price $ 11.00 $ 14.70 $ 21.20 Risk-Free Rate of Interest 3.866% 2.957% 1.515% Expected Term (Years) 10 10 10 Expected Stock Price Volatility 36.6% 20.7% 18.1% Dividend Yield 2.11% 2.83% 2.44% Weighted Aggregate Number of Weighted Average Intrinsic Shares Average Remaining Value Excercisable Exercise Price Term (Years) (in Thousands) Outstanding as of December 31, 2021 - $ - - $ - Granted 121,743 21.20 8.03 - Forfeited - - - - Outstanding as of December 31, 2022 121,743 $ 21.20 8.03 $ - Granted 154,294 14.70 9.00 - Forfeited - - - - Outstanding as of December 31, 2023 276,037 $ 17.57 8.58 $ - Granted 107,453 11.00 10.00 - Forfeited - - - - Outstanding as of June 30, 2024 383,490 $ 15.73 8.98 $ - Exercisable as of June 30, 2024 132,591 $ 15.73 8.98 $ - The weighted average grant date fair value per share for employee stock and non-employee Option grants issued on March 28, 2024, was $4.34. The weighted average grant date fair value per share for employee stock and non-employee stock Option grants issued on March 31, 2023, was $2.90. The weighted average grant date fair value per share for employee stock and non-employee Option grants issued on April 11, 2022, was $3.24. As of June 30, 2024, the total unrecognized compensation related to unvested employee and non-employee stock Option awards granted was $791,039, which the Company expects to recognize over a weighted-average period of approximately 2.16 years. As of December 31, 2023, the total unrecognized compensation related to unvested employee and non-employee stock Option awards granted was $503,254, which the Company expects to recognize over a weighted-average period of approximately 1.93 years. On March 13, 2023, the Company Board adopted changes to the Nuvera Communications, Inc. 2017 OSP. Most of the changes eliminate language specific to the requirements and limitations on grants under Internal Revenue Code Section162 (m), which has been repealed by Congress. This includes provisions related to “Performance-Based Exception” in several sections of the 2017 OSP. The Board also increased the limit on annual grants from 50,000 to 100,000 shares per participant and eliminated separate provisions on new-hire stock grants and cash-based grants. The Board also made minor changes to other sections of the 2017 OSP. The Board did not increase the number of shares authorized for issuance under the 2017 OSP or change the terms of eligibility for participants under the 2017 OSP. The foregoing description of the changes to the 2017 OSP does not purport to be complete and is qualified in its entirety by reference to the full text of the 2017 OSP, as amended, which is filed as Exhibit 10.12 to the 2022 Annual Report on Form 10-K and is incorporated by reference.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 15 – Subsequent Events We have evaluated and disclosed subsequent events through the filing date of this Quarterly Report on Form 10-Q.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Revenue [Policy Text Block]	Revenue Recognition See Note 2 – “Revenue Recognition” for a discussion of our revenue recognition policies.
Cost of Goods and Service [Policy Text Block]	Cost of Services (excluding depreciation and amortization) Cost of services (excluding depreciation and amortization expense) includes all costs related to the delivery of communication services and products. These operating costs include all costs of performing services and providing related products including engineering, network monitoring and transportation costs.
Selling, General and Administrative Expenses, Policy [Policy Text Block]	Selling, General and Administrative Expenses Selling, general and administrative expenses include direct and indirect selling expenses, customer service, billing and collections, advertising and all other general and administrative costs associated our operations.
Depreciation, Depletion, and Amortization [Policy Text Block]	Depreciation and Amortization Expense We use the group life method (mass asset accounting) to depreciate the assets of our communications companies. Communications plant acquired in a given year is grouped into similar categories and depreciated over the remaining estimated useful life of the group. When an asset is retired, both the asset and the accumulated depreciation associated with that asset are removed from the books. Due to rapid changes in technology, selecting the estimated economic life of communications plant and equipment requires a significant amount of judgment. We periodically review data on expected utilization of new equipment, asset retirement activity and net salvage values to determine adjustments to our depreciation rates. We have not made any significant changes to the lives of our assets in the two-year period ended June 30, 2024. Depreciation expense was $7,777,678 and $6,578,644 for the six months ended June 30, 2024, and 2023. The increase in depreciation expense was primarily due to an increase in our fiber-to-the-premise (FTTP) network to aid in our transition to a new advanced FTTP network, reflecting our continual investment in technology and infrastructure in order to meet our customers’ demands for our products and services. We amortize our definite-lived intangible assets over their estimated useful lives. Identifiable intangible assets that are subject to amortization are evaluated for impairment. Grant money received from governmental entities for reimbursement of capital expenditures is accounted for as a reduction from the cost of the asset. As the grant was to be used in the Company’s regulated network, the Company accounts for this funding as aid to construction as outlined in the Federal Communications Commission (FCC) Part 32 “Uniform System of Accounts for Telecommunications Companies.”
Income Tax, Policy [Policy Text Block]	Income Taxes The provision for income taxes consists of an amount for taxes currently payable and a provision for tax consequences deferred to future periods. Deferred income taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities, and their respective tax basis. Significant components of our deferred taxes arise from differences (i) in the basis of property, plant, and equipment due to the use of accelerated depreciation methods for tax purposes, as well as (ii) in partnership investments and intangible assets due to the difference between book and tax basis. Our effective income tax rate is normally higher than the United States tax rate due to state income taxes and permanent differences. We account for income taxes in accordance with GAAP, which requires an asset and liability approach to financial accounting and reporting for income taxes. As required by GAAP, we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more-likely-than-not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. As of June 30, 2024, and December 31, 2023, we had $0 of unrecognized tax benefits that if recognized would affect the tax rate. We do not expect the total amount of unrecognized tax benefits to materially change over the next twelve months. We are primarily subject to United States, Minnesota, Iowa, Nebraska, North Dakota, and Wisconsin income taxes. Tax years subsequent to 2019 remain open to examination by federal and state tax authorities. Our policy is to recognize interest and penalties related to income tax matters as income tax expense. As of June 30, 2024, and December 31, 2023, we had $0 of interest or penalties accrued that related to income tax matters.
Earnings Per Share, Policy [Policy Text Block]	Earnings and Dividends Per Share The basic and diluted net income per share is calculated as follows: Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Basic Diluted Basic Diluted Basic Diluted Basic Diluted Net Income $ (433,516) $ (433,516) $ 349,428 $ 349,428 $ 302,469 $ 302,469 $ 4,670,987 $ 4,670,987 Weighted-average common shares outstanding 5,163,476 5,315,827 5,117,342 5,178,323 5,148,342 5,286,303 5,106,220 5,157,569 Net income per share $ (0.08) $ (0.08) $ 0.07 $ 0.07 $ 0.06 $ 0.06 $ 0.91 $ 0.91 The weighted-average shares outstanding, basic, and diluted, are calculate as follows: Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Basic Diluted Basic Diluted Basic Diluted Basic Diluted Weighted-average common 5,163,476 5,163,476 5,117,342 5,117,342 5,148,342 5,148,342 5,106,220 5,106,220 Dilutive RSU's/Options - 152,351 - 60,981 - 137,961 - 51,349 Weighted-average common 5,163,476 5,315,827 5,117,342 5,178,323 5,148,342 5,286,303 5,106,220 5,157,569 Nuvera’s Board of Directors (BOD) reviews quarterly dividend declarations based on our anticipated earnings, capital requirements and our operating and financial conditions.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Developments In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 provide improvements primarily related to the rate reconciliation and incomes taxes paid information included in income tax disclosures. The Company would be required to disclose additional information regarding reconciling items equal to or greater than five percent of the amount computed by multiplying pretax income (loss) by the applicable statutory tax rate. Similarly, the Company would be required to disclose income taxes paid (net of refunds received) equal to or greater than five percent of total income taxes paid (net of refunds received). The amendments in ASU 2023-09 are effective January 1, 2025, including interim periods. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company will evaluate the impact of ASU 2023-09 on its financial statements. We have implemented all new, applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. We have reviewed all other significant newly issued accounting pronouncements and determined that they are either not applicable to our business or that no material effect is expected on our financial position and results of operations.

Basis of Presentation and Con_2

Basis of Presentation and Consolidation (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Basic Diluted Basic Diluted Basic Diluted Basic Diluted Net Income $ (433,516) $ (433,516) $ 349,428 $ 349,428 $ 302,469 $ 302,469 $ 4,670,987 $ 4,670,987 Weighted-average common shares outstanding 5,163,476 5,315,827 5,117,342 5,178,323 5,148,342 5,286,303 5,106,220 5,157,569 Net income per share $ (0.08) $ (0.08) $ 0.07 $ 0.07 $ 0.06 $ 0.06 $ 0.91 $ 0.91
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Basic Diluted Basic Diluted Basic Diluted Basic Diluted Weighted-average common 5,163,476 5,163,476 5,117,342 5,117,342 5,148,342 5,148,342 5,106,220 5,106,220 Dilutive RSU's/Options - 152,351 - 60,981 - 137,961 - 51,349 Weighted-average common 5,163,476 5,315,827 5,117,342 5,178,323 5,148,342 5,286,303 5,106,220 5,157,569

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	Three Months Ended June 30, 2024 2023 Voice Service¹ $ 1,327,509 $ 1,427,841 Network Access¹ 932,336 989,294 Video Service¹ 2,973,791 3,063,857 Data Service¹ 6,904,858 6,269,017 Directory² 135,850 148,031 Other Contracted Revenue³ 722,537 710,324 Other⁴ 463,469 444,146 Revenue from customers 13,460,350 13,052,510 Subsidy and other revenue 3,717,504 3,232,177 Total revenue $ 17,177,854 $ 16,284,687 ¹ Month-to-Month contracts billed and consumed in the same month. ² Directory revenue is contracted annually, however, this revenue is recognized ³ This includes long-term contracts where the revenue is recognized monthly over ⁴ This includes CPE and other equipment sales. ⁵ This includes governmental subsidies and lease revenue outside the scope of ASC Six Months Ended June 30, 2024 2023 Voice Services¹ $ 2,699,896 $ 2,867,867 Network Access¹ 1,900,622 2,118,379 Video Service¹ 5,963,740 6,115,154 Data Service¹ 13,580,698 12,522,213 Directory² 276,615 303,290 Other Contracted Revenue³ 1,398,371 1,365,713 Other⁴ 934,005 896,952 Revenue from customers 26,753,947 26,189,568 Subsidy and other revenue 7,369,032 6,458,066 Total revenue $ 34,122,979 $ 32,647,634 ¹ Month-to-Month contracts billed and consumed in the same month. ² Directory revenue is contracted annually, however, this revenue is recognized ³ This includes long-term contracts where the revenue is recognized monthly over ⁴ This includes CPE and other equipment sales. ⁵ This includes governmental subsidies and lease revenue outside the scope of ASC
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	June 30, 2024 December 31, 2023 Accounts receivable, net - beginning balance $ 1,966,012 $ 1,477,692 Accounts receivable, net - ending balance 1,769,009 1,966,012 Contract assets - beginning balance 1,458,631 794,193 Contract assets - ending balance 1,489,265 1,458,631 Contract liabilities - beginning balance 551,995 626,306 Contract liabilities - ending balance 395,570 551,995

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Disclosure Text Block [Abstract]
ROU and Operating Lease Liabilities [Table Text Block]	Right of Use Assets Balance Balance Operating Lease Right-Of-Use Assets $ 1,158,686 $ 1,348,290 Operating Lease Liabilities Balance Balance Short-Term Operating Lease Liabilities $ 214,814 $ 352,969 Long-Term Operating Lease Liabilities 967,558 1,029,910 Total $ 1,182,372 $ 1,382,879
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Maturity Analysis Balance 2024 (remaining) $ 160,573 2025 243,974 2026 200,777 2027 151,629 2028 153,824 Thereafter 613,091 Total 1,523,868 Less Imputed interest (341,496) Present Value of Operating Leases $ 1,182,372
Lease, Cost [Table Text Block]	Weighted Average Remaining Lease Term (Years) 7.62 Weighted Average Discount Rate 6.32%

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	June 30, 2024 December 31, 2023 Gross Gross Useful Carrying Accumulated Carrying Accumulated Lives Amount Amortization Amount Amortization Definite-Lived Intangible Assets Customers Relationships 14-15 yrs $ 42,878,445 $ 32,865,188 $ 42,878,445 $ 32,053,361 Regulatory Rights 15 yrs 4,000,000 4,000,000 4,000,000 4,000,000 Video Franchise 3,000,000 428,580 3,000,000 214,290 Trade Name 3-5 yrs 310,106 310,106 310,106 310,106 Indefinitely-Lived Intangible Assets Spectrum 877,814 - 877,814 - Total $ 51,066,365 $ 37,603,874 $ 51,066,365 $ 36,577,757 Net Identified Intangible Assets $ 13,462,491 $ 14,488,608
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	• (July 1 – December 31) $ 1,026,117 • 2025 $ 2,047,312 • 2026 $ 2,042,389 • 2027 $ 1,335,247 • 2028 $ 1,335,247 • 2029 $ 1,335,247

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	Targeted Closing Time-Based Performance-Based Stock Vesting RSU's RSU's Price Date Balance at December 31, 2022 3,364 4,701 Forfeited (516) (923) Exercised (2,848) (3,778) $ 10.48 12/31/2023 Balance at December 31, 2023 0 - Forfeited - - Exercised - - Balance at June 30, 2024 0 0
Share-Based Compensation Arrangements by Share-Based Payment Award, Restricted Stock Units, Vested and Expected to Vest [Table Text Block]	Closing Stock Vesting Options Price Date Balance at December 31, 2021 - Issued 40,577 $ 21.20 4/11/2023 Issued 40,583 $ 21.20 4/11/2024 Issued 40,583 $ 21.20 4/11/2025 Balance at December 31, 2022 121,743 Issued 51,431 $ 14.70 3/31/2024 Issued 51,431 $ 14.70 3/31/2025 Issued 51,432 $ 14.70 3/31/2026 Balance at March 31, 2023 276,037 Issued 35,817 $ 11.00 3/28/2025 Issued 35,818 $ 11.00 3/28/2026 Issued 35,818 $ 11.00 3/28/2027 Balance at June 31, 2024 383,490
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	2024 Grants 2023 Grants 2022 Grants Exercise Price $ 11.00 $ 14.70 $ 21.20 Risk-Free Rate of Interest 3.866% 2.957% 1.515% Expected Term (Years) 10 10 10 Expected Stock Price Volatility 36.6% 20.7% 18.1% Dividend Yield 2.11% 2.83% 2.44%
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Weighted Aggregate Number of Weighted Average Intrinsic Shares Average Remaining Value Excercisable Exercise Price Term (Years) (in Thousands) Outstanding as of December 31, 2021 - $ - - $ - Granted 121,743 21.20 8.03 - Forfeited - - - - Outstanding as of December 31, 2022 121,743 $ 21.20 8.03 $ - Granted 154,294 14.70 9.00 - Forfeited - - - - Outstanding as of December 31, 2023 276,037 $ 17.57 8.58 $ - Granted 107,453 11.00 10.00 - Forfeited - - - - Outstanding as of June 30, 2024 383,490 $ 15.73 8.98 $ - Exercisable as of June 30, 2024 132,591 $ 15.73 8.98 $ -

Basis of Presentation and Con_3

Basis of Presentation and Consolidation (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Accounting Policies [Abstract]
Number of Reportable Segments	1
Depreciation	$ 7,777,678	$ 6,578,644
Unrecognized Tax Benefits	0		$ 0
Income Tax Examination, Interest Accrued	$ 0		$ 0

Basis of Presentation and Con_4

Basis of Presentation and Consolidation (Details) - Basic and diluted net income per share - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic And Diluted Net Income Per Share Abstract
Net Income, Basic	$ (433,516)	$ 349,428	$ 302,469	$ 4,670,987
Net Income, Diluted	$ (433,516)	$ 349,428	$ 302,469	$ 4,670,987
Weighted-average common shares outstanding, Basic	5,163,476	5,117,342	5,148,342	5,106,220
Weighted-average common shares outstanding, Diluted	5,315,827	5,178,323	5,286,303	5,157,569
Net income per share, Basic	$ (0.08)	$ 0.07	$ 0.06	$ 0.91
Net income per share, Diluted	$ (0.08)	$ 0.07	$ 0.06	$ 0.91

Basis of Presentation and Con_5

Basis of Presentation and Consolidation (Details) - Weighted-average shares outstanding, basic and diluted - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Weighted Average Shares Outstanding Basic And Diluted Abstract
Weighted-average common shares outstanding, Basic	5,163,476	5,117,342	5,148,342	5,106,220
Dilutive RSU's/Options	152,351	60,981	137,961	51,349
Weighted-average common shares outstanding, Diluted	5,315,827	5,178,323	5,286,303	5,157,569

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue Recognition (Details) [Line Items]
Related Party Fund (in Dollars)			$ 3,900,000
Professional and Contract Services Expense (in Dollars)	$ 163,880	$ 108,985	322,987	$ 199,736
Deferred Revenue, Current (in Dollars)	72,930	61,779	72,930	61,779
Deferred Revenue, Noncurrent (in Dollars)	237,858	$ 248,418	$ 237,858	$ 248,418
Minimum [Member]
Revenue Recognition (Details) [Line Items]
Contract Term			3 years
Payment Term			30 days
Maximum [Member]
Revenue Recognition (Details) [Line Items]
Contract Term			10 years
Payment Term			60 days
Iowa Operations [Member]
Revenue Recognition (Details) [Line Items]
Construction Contractor, Receivable, Excluding Contract Retainage (in Dollars)	596,084		$ 596,084
Minnesota Operations [Member]
Revenue Recognition (Details) [Line Items]
Construction Contractor, Receivable, Excluding Contract Retainage (in Dollars)	$ 8,354,481		$ 8,354,481
Other Contracted Revenue [Member] | Minimum [Member]
Revenue Recognition (Details) [Line Items]
Revenue Recognition Period			3 years
Other Contracted Revenue [Member] | Maximum [Member]
Revenue Recognition (Details) [Line Items]
Revenue Recognition Period			10 years
Product and Service, Other [Member]
Revenue Recognition (Details) [Line Items]
Revenue Recognition Period			1 month
Month To Month And Other Contracted Revenue [Member] | Customer Concentration Risk [Member] | Revenue from Contract with Customer Benchmark [Member]
Revenue Recognition (Details) [Line Items]
Concentration Risk, Percentage	75.66%	77.42%	75.67%	77.47%
Outside of The Scope of ASC-606 [Member] | Customer Concentration Risk [Member] | Revenue from Contract with Customer Benchmark [Member]
Revenue Recognition (Details) [Line Items]
Concentration Risk, Percentage	21.64%	19.85%	21.59%	19.78%
CPE and Equipment Sales and Installation [Member] | Customer Concentration Risk [Member] | Revenue from Contract with Customer Benchmark [Member]
Revenue Recognition (Details) [Line Items]
Concentration Risk, Percentage	2.70%	2.73%	2.74%	2.75%
A-CAM [Member]
Revenue Recognition (Details) [Line Items]
Contract Term			10 years

Revenue Recognition (Details) -

Revenue Recognition (Details) - Revenue from contracts with customers - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue from customers	$ 13,460,350	$ 13,052,510	$ 26,753,947	$ 26,189,568
Subsidy and other revenue outside scope of ASC 606⁵	3,717,504	3,232,177	7,369,032	6,458,066
Total revenue	17,177,854	16,284,687	34,122,979	32,647,634
Voice Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from customers	1,327,509	1,427,841	2,699,896	2,867,867
Total revenue	1,199,823	1,293,258	2,431,551	2,605,851
Network Access [Member]
Disaggregation of Revenue [Line Items]
Revenue from customers	932,336	989,294	1,900,622	2,118,379
Total revenue	909,516	955,459	1,856,626	2,050,751
Video Service [Member]
Disaggregation of Revenue [Line Items]
Revenue from customers	2,973,791	3,063,857	5,963,740	6,115,154
Total revenue	2,973,791	3,063,857	5,963,740	6,115,154
Data Service [Member]
Disaggregation of Revenue [Line Items]
Revenue from customers	6,904,858	6,269,017	13,580,698	12,522,213
Total revenue	7,526,344	6,874,570	14,775,117	13,691,119
Directory [Member]
Disaggregation of Revenue [Line Items]
Revenue from customers	135,850	148,031	276,615	303,290
Other Contracted Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from customers	722,537	710,324	1,398,371	1,365,713
Product and Service, Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from customers	$ 463,469	$ 444,146	$ 934,005	$ 896,952

Revenue Recognition (Details)_2

Revenue Recognition (Details) - Receivables, contracts assets and contract liabilities from revenue contracts with our customers - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Receivables Contracts Assets And Contract Liabilities From Revenue Contracts With Our Customers Abstract
Accounts receivable, net - beginning balance	$ 1,966,012	$ 1,477,692
Accounts receivable, net - ending balance	1,769,009	1,966,012
Contract assets - beginning balance	1,458,631	794,193
Contract assets - ending balance	1,489,265	1,458,631
Contract liabilities - beginning balance	551,995	626,306
Contract liabilities - ending balance	$ 395,570	$ 551,995

Leases (Details)

Leases (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure Text Block [Abstract]
Operating Lease, Expense	$ 149,337	$ 105,098	$ 297,333	$ 210,706

Leases (Details) - ROU assets a

Leases (Details) - ROU assets and operating lease liabilities - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Rou Assets And Operating Lease Liabilities Abstract
Operating Lease Right-Of-Use Assets	$ 1,158,686	$ 1,348,290
Short-Term Operating Lease Liabilities	214,814	352,969
Long-Term Operating Lease Liabilities	967,558	1,029,910
Total	$ 1,182,372	$ 1,382,879

Leases (Details) - Maturity ana

Leases (Details) - Maturity analysis under these lease agreements - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Maturity Analysis Under These Lease Agreements Abstract
2024 (remaining)	$ 160,573
2025	243,974
2026	200,777
2027	151,629
2028	153,824
Thereafter	613,091
Total	1,523,868
Less Imputed interest	(341,496)
Present Value of Operating Leases	$ 1,182,372	$ 1,382,879

Leases (Details) - Other inform

Leases (Details) - Other information related to leases	Jun. 30, 2024
Other Information Related To Leases Abstract
Weighted Average Remaining Lease Term (Years)	7 years 7 months 13 days
Weighted Average Discount Rate	6.32%

Goodwill and Intangibles (Detai

Goodwill and Intangibles (Details) - USD ($)		6 Months Ended
	Dec. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 40,603,029	$ 40,603,029
Goodwill, Impairment Loss	$ 9,300,000
Amortization of Intangible Assets		$ 1,026,117	$ 842,837

Goodwill and Intangibles (Det_2

Goodwill and Intangibles (Details) - Components of our identified intangible assets - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Definite-Lived Intangible Assets
Gross Carrying Amount	$ 51,066,365	$ 51,066,365
Accumulated Amortization	37,603,874	36,577,757
Net Identified Intangible Assets	13,462,491	14,488,608
Customer Relationships [Member]
Definite-Lived Intangible Assets
Gross Carrying Amount	42,878,445	42,878,445
Accumulated Amortization	$ 32,865,188	32,053,361
Regulatory Rights [Member]
Definite-Lived Intangible Assets
Useful Lives	15 years
Gross Carrying Amount	$ 4,000,000	4,000,000
Accumulated Amortization	4,000,000	4,000,000
Video Franchise [Member]
Definite-Lived Intangible Assets
Gross Carrying Amount	3,000,000	3,000,000
Accumulated Amortization	428,580	214,290
Trade Names [Member]
Definite-Lived Intangible Assets
Gross Carrying Amount	310,106	310,106
Accumulated Amortization	$ 310,106	310,106
Minimum [Member] | Customer Relationships [Member]
Definite-Lived Intangible Assets
Useful Lives	14 years
Minimum [Member] | Trade Names [Member]
Definite-Lived Intangible Assets
Useful Lives	3 years
Maximum [Member] | Customer Relationships [Member]
Definite-Lived Intangible Assets
Useful Lives	15 years
Maximum [Member] | Trade Names [Member]
Definite-Lived Intangible Assets
Useful Lives	5 years
Spectrum [Member]
Definite-Lived Intangible Assets
Gross Carrying Amount	$ 877,814	$ 877,814

Goodwill and Intangibles (Det_3

Goodwill and Intangibles (Details) - Summary of Future Amortization Expense	Jun. 30, 2024 USD ($)
Summary Of Future Amortization Expense Abstract
• (July 1 – December 31)	$ 1,026,117
• 2025	2,047,312
• 2026	2,042,389
• 2027	1,335,247
• 2028	1,335,247
• 2029	$ 1,335,247

Secured Credit Facility (Detail

Secured Credit Facility (Details) - USD ($)		6 Months Ended
	Jun. 21, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 21, 2023	Aug. 29, 2019	Aug. 01, 2018
Secured Credit Facility (Details) [Line Items]
Debt Instrument, Face Amount	$ 180,000,000
Proceeds from Issuance of Long-Term Debt		$ 125,000,000	$ 20,000,000
First IRSA With Co Bank [Member]
Secured Credit Facility (Details) [Line Items]
Derivative, Notional Amount						$ 16,137,500
Second IRSA CoBank [Member]
Secured Credit Facility (Details) [Line Items]
Derivative, Notional Amount					$ 42,000,000
Revolving Credit Facility [Member]
Secured Credit Facility (Details) [Line Items]
Debt Instrument, Face Amount		30,000,000
Line of Credit Facility, Maximum Borrowing Capacity	40,000,000	30,000,000
Long-Term Line of Credit		7,634,124
Revolving Credit Facility [Member] | Agreement For Amendments to Loan and Amended and Restated Revolving Loan Promissory Note [Member]
Secured Credit Facility (Details) [Line Items]
Long-Term Line of Credit		40,000,000		$ 30,000,000
Convertible Debt [Member] | Agreement For Amendments to Loan and Amended and Restated Revolving Loan Promissory Note [Member]
Secured Credit Facility (Details) [Line Items]
Long-Term Line of Credit		140,000,000		$ 130,000,000
Interest Rate Swap [Member] | First IRSA With Co Bank [Member]
Secured Credit Facility (Details) [Line Items]
Debt Instrument, Face Amount		16,137,500
Derivative, Notional Amount		$ 9,221,900
Debt, Weighted Average Interest Rate		6.71%
Interest Rate Swap [Member] | Second IRSA CoBank [Member]
Secured Credit Facility (Details) [Line Items]
Debt Instrument, Face Amount		$ 42,000,000
Derivative, Notional Amount		$ 25,847,340
Debt, Weighted Average Interest Rate		5.04%
Term Loan [Member]
Secured Credit Facility (Details) [Line Items]
Proceeds from Issuance of Long-Term Debt	125,000,000
Debt Instrument, Interest Rate Terms		The term loan borrowings initially bear interest at a “Margin for Base Rate Loans” of 2.75% above the applicable base rate.
Delayed Draw Term Loan (DDTL) [Member]
Secured Credit Facility (Details) [Line Items]
Debt Instrument, Face Amount		$ 25,000,000
Long-Term Debt, Gross	$ 25,000,000
Long-Term Debt		0
Delayed Draw Term Loan (DDTL) [Member] | Revolving Credit Facility [Member]
Secured Credit Facility (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		25,000,000
Line of Credit Facility, Current Borrowing Capacity		$ 22,400,000
Line of Credit Facility, Commitment Fee Percentage		0.50%
Term A-1 Loan [Member]
Secured Credit Facility (Details) [Line Items]
Debt Instrument, Face Amount		$ 125,000,000
Long-Term Debt, Gross		$ 112,500,000
Revolving Credit Facility [Member]
Secured Credit Facility (Details) [Line Items]
Debt Instrument, Interest Rate Terms		The revolving loan borrowings initially bear interest at a “Margin for Base Rate Loans” of 2.75% above the applicable base rate.
Secured Debt [Member]
Secured Credit Facility (Details) [Line Items]
Long-Term Debt		$ 97,600,000
Debt, Weighted Average Interest Rate		9.27%
Debt Instrument, Covenant Description		Our loan agreements include restrictions on our ability to pay cash dividends to our stockholders. However, we are allowed to pay dividends in an amount up to $3,000,000 in any year as long as no default or event of default has occurred, and our current Total Leverage Ratio is equal to 4.25:1.00 or less. In addition, we are allowed to pay dividends in an unlimited amount in any year as long as no default or event of default has occurred, and our current Total Leverage Ratio is equal to 3.50:1.00 or less. Our current Total Leverage Ratio as of June 30, 2024, was 5.10. Our maximum Total Leverage Ratio under the new loan facility is 6.00:1.00.
Debt Instrument Threshold Amount Dividends		$ 3,000,000
Ratio of Indebtedness to Net Capital		5.1
Beginning on June 2026 [Member] | Delayed Draw Term Loan (DDTL) [Member]
Secured Credit Facility (Details) [Line Items]
Debt Instrument Periodic Payment Principal In Percentage		0.625%
Beginning on June 2026 [Member] | Term A-1 Loan [Member]
Secured Credit Facility (Details) [Line Items]
Debt Instrument, Periodic Payment, Principal		$ 781,250
Beginning on June 2028 [Member] | Delayed Draw Term Loan (DDTL) [Member]
Secured Credit Facility (Details) [Line Items]
Debt Instrument Periodic Payment Principal In Percentage		1.25%
Beginning on June 2028 [Member] | Term A-1 Loan [Member]
Secured Credit Facility (Details) [Line Items]
Debt Instrument, Periodic Payment, Principal		$ 1,562,500

Interest Rate Swaps (Details)

Interest Rate Swaps (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Aug. 29, 2019	Aug. 01, 2018
Interest Rate Swaps (Details) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ 800,111		$ 959,442
First IRSA With Co Bank [Member]
Interest Rate Swaps (Details) [Line Items]
Derivative, Notional Amount					$ 16,137,500
Second IRSA CoBank [Member]
Interest Rate Swaps (Details) [Line Items]
Derivative, Notional Amount				$ 42,000,000
Interest Rate Swap [Member]
Interest Rate Swaps (Details) [Line Items]
Interest Rate Derivative Assets, at Fair Value	1,119,663	$ 2,116,820
Deferred Income Tax Expense (Benefit)	319,552	604,140
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ 800,111	$ 1,512,680

Other Investments (Details)

Other Investments (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
FiberComm [Member]
Other Investments (Details) [Line Items]
Gain (Loss) on Sale of Investments	$ 242,257	$ 4,060,775

Guarantees (Details)

Guarantees (Details)	Mar. 31, 2023
Guarantees (Details) [Line Items]
Sale of Stock, Percentage of Ownership before Transaction	100%
FiberComm [Member]
Guarantees (Details) [Line Items]
Equity Method Investment, Ownership Percentage	20%

Incentive and Retirement Plans

Incentive and Retirement Plans (Details) - 2015 Employee Stock Plan [Member]	6 Months Ended
	Jun. 30, 2024 shares
Incentive and Retirement Plans (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized	200,000
Employee Incentive Plan Percentage Of Compensation In Lieu Of Cash	50%
Management Incentive Plan Percentage Of Compensation In Lieu Of Cash	50%
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant	148,877

Segment Information (Details)

Segment Information (Details)	Jun. 30, 2024
Broadband Visions LLC [Member]
Segment Information (Details) [Line Items]
Equity Method Investment, Ownership Percentage	24.30%
Independent Emergency Services LLC [Member]
Segment Information (Details) [Line Items]
Equity Method Investment, Ownership Percentage	14.29%
Fiber Minnesota LLC [Member]
Segment Information (Details) [Line Items]
Equity Method Investment, Ownership Percentage	7.64%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2024 USD ($)
Commitments and Contingencies (Details) [Line Items]
Capital Budget	$ 41.1
Outstanding Commitments for Material [Member]
Commitments and Contingencies (Details) [Line Items]
Other Commitment	16.2
Outstanding Contract [Member]
Commitments and Contingencies (Details) [Line Items]
Contractual Obligation, to be Paid, Year One	10
Contractual Obligation, to be Paid, Year Two	$ 6.2

Broadband Grants (Details)

Broadband Grants (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)
March 2024 Grant [Member]
Broadband Grants (Details) [Line Items]
Grants Percentage	75%
Grants Receivable	$ 1,884,429
Project Cost	$ 2,512,572
Matching Fund Percentage Provided By Grantee	25%
Redwood County [Member]
Broadband Grants (Details) [Line Items]
Grants Receivable	$ 1,559,643
Proceeds from Grantors	1,559,643
December 2022 Grant [Member]
Broadband Grants (Details) [Line Items]
Grants Receivable	8,594,688
Project Cost	18,139,749
Proceeds from Grantors	$ 223,213
Number Of Grants	4
Nicollet County and Goodhue County [Member]
Broadband Grants (Details) [Line Items]
Grants Receivable	$ 2,088,485
Proceeds from Grantors	$ 1,345,855
Number Of Grants	2
Grants Receivable, Current	$ 2,139,562
January 2021 Grant [Member]
Broadband Grants (Details) [Line Items]
Grants Percentage	35.40%
Grants Receivable	$ 1,918,037
Project Cost	$ 5,419,617
Matching Fund Percentage Provided By Grantee	64.60%
Proceeds from Grantors	$ 1,918,037
Number Of Grants	5
Minimum [Member] | December 2022 Grant [Member]
Broadband Grants (Details) [Line Items]
Grants Percentage	45%
Matching Fund Percentage Provided By Grantee	50%
Maximum [Member] | December 2022 Grant [Member]
Broadband Grants (Details) [Line Items]
Grants Percentage	50%
Matching Fund Percentage Provided By Grantee	55%

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($)				6 Months Ended	12 Months Ended
	Mar. 28, 2024	Mar. 31, 2023	Apr. 11, 2022	Jun. 30, 2024	Dec. 31, 2023	Mar. 13, 2023
Share-Based Payment Arrangement, Option [Member]
Stock Based Compensation (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in Shares)				100,000		50,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price	$ 11	$ 14.7	$ 21.2
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value	$ 4.34	$ 2.9	$ 3.24
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount (in Dollars)				$ 791,039	$ 503,254
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition				2 years 1 month 28 days	1 year 11 months 4 days
Omnibus Stock Plan [Member]
Stock Based Compensation (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in Shares)				625,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in Shares)				47,499

Stock Based Compensation (Det_2

Stock Based Compensation (Details) - RSUs currently issued, exercised, or forfeited - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Stock Based Compensation (Details) - RSUs currently issued, exercised, or forfeited [Line Items]
Exercised,Closing Stock Price (in Dollars per share)		$ 10.48
Exercised,Vesting Date		Dec. 31, 2023
Time Based RSUs [Member]
Stock Based Compensation (Details) - RSUs currently issued, exercised, or forfeited [Line Items]
Balance	0	3,364
Forfeited		(516)
Exercised		(2,848)
Balance	0	0
Targeted Performance Based RSUs [Member]
Stock Based Compensation (Details) - RSUs currently issued, exercised, or forfeited [Line Items]
Balance	0	4,701
Forfeited		(923)
Exercised		(3,778)
Balance	0	0

Stock Based Compensation (Det_3

Stock Based Compensation (Details) - Number of Options awarded - Restricted Stock Units (RSUs) [Member] - $ / shares	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2024	Dec. 31, 2022
Stock Based Compensation (Details) - Number of Options awarded [Line Items]
Balance	121,743
Balance	276,037	383,490	121,743
Share-Based Payment Arrangement, Tranche One [Member]
Stock Based Compensation (Details) - Number of Options awarded [Line Items]
Options,Issued	51,431	35,817	40,577
Options,Issued Closing Stock Price (in Dollars per share)	$ 14.7	$ 11	$ 21.2
Options,Issued Vesting Date	Mar. 31, 2024	Mar. 28, 2025	Apr. 11, 2023
Share-Based Payment Arrangement, Tranche Two [Member]
Stock Based Compensation (Details) - Number of Options awarded [Line Items]
Options,Issued	51,431	35,818	40,583
Options,Issued Closing Stock Price (in Dollars per share)	$ 14.7	$ 11	$ 21.2
Options,Issued Vesting Date	Mar. 31, 2025	Mar. 28, 2026	Apr. 11, 2024
Share-Based Payment Arrangement, Tranche Three [Member]
Stock Based Compensation (Details) - Number of Options awarded [Line Items]
Options,Issued	51,432	35,818	40,583
Options,Issued Closing Stock Price (in Dollars per share)	$ 14.7	$ 11	$ 21.2
Options,Issued Vesting Date	Mar. 31, 2026	Mar. 28, 2027	Apr. 11, 2025

Stock Based Compensation (Det_4

Stock Based Compensation (Details) - Grant date fair value of employee stock option awards assumptions - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Grant Date Fair Value Of Employee Stock Option Awards Assumptions Abstract
Exercise Price (in Dollars per share)	$ 11	$ 14.7	$ 21.2
Risk-Free Rate of Interest	3.866%	2.957%	1.515%
Expected Term (Years)	10 years	10 years	10 years
Expected Stock Price Volatility	36.60%	20.70%	18.10%
Dividend Yield	2.11%	2.83%	2.44%

Stock Based Compensation (Det_5

Stock Based Compensation (Details) - Summaries of Company`s employee stock option activity - Share-Based Payment Arrangement, Option [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Stock Based Compensation (Details) - Summaries of Company`s employee stock option activity [Line Items]
Outstanding, Number of Shares	276,037	121,743
Outstanding, Weighted Average Exercise Price	$ 17.57	$ 21.2
Outstanding, Aggregate Intrinsic Value
Granted, Number of Shares	107,453	154,294	121,743
Granted, Weighted Average Exercise Price	$ 11	$ 14.7	$ 21.2
Granted, Weighted Average Remaining Term	10 years	9 years	8 years 10 days
Outstanding, Number of Shares	383,490	276,037	121,743
Outstanding, Weighted Average Exercise Price	$ 15.73	$ 17.57	$ 21.2
Outstanding, Weighted Average Remaining Term	8 years 11 months 23 days	8 years 6 months 29 days	8 years 10 days
Outstanding, Aggregate Intrinsic Value
Exercisable, Number of Shares	132,591
Exercisable, Weighted Average Exercise Price	$ 15.73
Exercisable, Weighted Average Remaining Term	8 years 11 months 23 days
Exercisable, Aggregate Intrinsic Value