Financial Performance - GCI Liberty reported a 6% increase in total revenue to $261 million for Q2 2025, with business revenue up 14% to $142 million, while consumer revenue decreased 2% to $119 million[3]. - Adjusted OIBDA grew 26% to $108 million, and operating income increased 70% to $51 million, reflecting improved cost management and operational efficiencies[3][9]. - GCI Liberty reported revenue of $261 million for Q2 2025, an increase of 6.1% compared to $246 million in Q2 2024[37]. - Adjusted OIBDA for Q2 2025 was $108 million, up from $86 million in Q2 2024, reflecting a growth of 25.6%[35]. - Net earnings for the six months ended June 30, 2025, were $62 million, compared to $33 million for the same period in 2024, representing an increase of 87.9%[39]. - GCI Liberty's operating income for Q2 2025 was $51 million, compared to $30 million in Q2 2024, marking a 70% increase[37]. - The company reported a pro forma net earnings per share of $0.94 for Q2 2025[37]. Cash Flow and Debt Management - GCI generated net cash from operating activities of $342 million and free cash flow of $153 million over the trailing twelve months ended June 30, 2025[11]. - Free cash flow for the twelve months ended June 30, 2025, was $153 million, after capital expenditures of $243 million and grant proceeds of $54 million[35]. - GCI's total debt decreased by $86 million to $1,047 million as of June 30, 2025, due to paydowns under the senior credit facility[26]. - Long-term debt decreased to $983 million as of June 30, 2025, from $1.066 billion at the end of 2024[36]. - GCI's leverage ratio improved to 2.3x as of June 30, 2025, reflecting a stronger balance sheet post-spin-off[27]. Subscriber and Market Trends - Consumer cable modem subscribers declined 3% to 154,500, while consumer wireless lines in service grew 1% to 207,000, with a net addition of 4,700 wireless lines in Q2 2025[3][16]. - The company plans to fully exit the video business by the end of 2025, which is expected to impact consumer revenue[8]. Capital Expenditures and Investments - Capital expenditures for the year are expected to be approximately $250 million, focusing on network improvements in rural Alaska, including the Bethel and AU-Aleutians fiber projects[10]. Asset Management - Total assets as of June 30, 2025, were $3.354 billion, slightly down from $3.382 billion at the end of 2024[36]. - The company had cash and cash equivalents of $104 million as of June 30, 2025, up from $74 million at the end of 2024[36]. - GCI Liberty's total equity increased to $1.477 billion as of June 30, 2025, compared to $1.414 billion at the end of 2024[36]. Regulatory and Legal Developments - The Supreme Court upheld the constitutionality of the Universal Service Fund, providing clarity for GCI's efforts to enhance connectivity in rural Alaska[2][3]. Operational Efficiency - GCI's business gross margin improved by 730 basis points to 81.7%, driven by a 19% decrease in direct costs[19].
GCI Liberty Inc-C(GLIBK) - 2025 Q2 - Quarterly Results