Financial Performance - Combined revenue increased by $15 million (6.1%) for the three months ended June 30, 2025, and by $36 million (7.3%) for the six months ended June 30, 2025, compared to the same periods in 2024[84] - Operating income for the three months ended June 30, 2025, was $51 million, up from $30 million in the same period of 2024, representing a 70% increase[84] - Net earnings for the three months ended June 30, 2025, were $27 million, compared to $13 million in the same period of 2024, reflecting a 107.7% increase[84] - Total revenue for the three months ended June 30, 2025, was $261 million, an increase of 6% compared to $246 million in the same period of 2024[87] - Adjusted OIBDA for the six months ended June 30, 2025, was $221 million, an increase of $45 million (25.6%) compared to $176 million in the same period of 2024[84] - Adjusted OIBDA for the three months ended June 30, 2025, was $108 million, an increase of 25.6% compared to $86 million in the same period of 2024[101] - Net cash provided by operating activities for the six months ended June 30, 2025, was $226 million, an increase of 39.5% compared to $162 million in the same period of 2024[108] Subscriber Metrics - Cable modem subscribers decreased to 154,500 as of June 30, 2025, down from 159,000 in 2024, indicating a decline of 2.8%[85] - Wireless lines in service increased to 207,000 as of June 30, 2025, up from 205,600 in 2024, showing a growth of 0.7%[85] - Consumer data revenue decreased by $3 million (4.8%) for the three months ended June 30, 2025, primarily due to a decline in subscribers[88] - Business data revenue increased by $19 million (17.9%) for the three months ended June 30, 2025, driven by service upgrades with existing customers[91] Economic and Regulatory Environment - GCI Holdings is closely monitoring inflation-sensitive costs, including materials and labor, which have been rising and could impact margins[77] - The Alaska economy, which GCI Holdings is heavily reliant on, is facing recessionary pressures due to volatility in oil prices and inflation, potentially affecting demand for services[76] - The One Big Beautiful Bill Act (OBBBA) was enacted on July 4, 2025, with expected deferral of cash taxes to future years, though no material impact on income tax expense is anticipated[78] - Legal challenges to the constitutionality of the FCC Universal Service Support Programs have been ongoing, with recent rulings impacting the support GCI Holdings receives[79] Capital and Compliance - Cash and cash equivalents as of June 30, 2025, totaled $104 million, primarily held in cash[107] - The company expects to incur approximately $150 million in net capital expenditures in the foreseeable future[111] - The effective income tax rate for the six months ended June 30, 2025, was 31%, compared to 30% in the same period of 2024[104] - The company is in compliance with all debt maintenance covenants as of June 30, 2025[112]
GCI Liberty Inc-C(GLIBK) - 2025 Q2 - Quarterly Report