Financial Performance - Consolidated revenue decreased by $5 million to $257 million for the three months ended September 30, 2025, but increased by $31 million to $784 million for the nine months ended September 30, 2025, compared to the same periods in 2024[102]. - Operating income for the three months ended September 30, 2025, was a loss of $488 million, compared to an operating income of $41 million for the same period in 2024[102]. - Total revenue for the three months ended September 30, 2025, was $257 million, a decrease of 2% compared to $262 million for the same period in 2024[107]. - Adjusted OIBDA for the nine months ended September 30, 2025, was $313 million, an increase from $276 million in the same period of 2024[102]. - Adjusted OIBDA for the three months ended September 30, 2025, was $92 million, a decrease of $8 million (8.0%) compared to $100 million for the same period in 2024[120]. - Operating loss for the three months ended September 30, 2025, was $488 million, compared to an operating income of $41 million for the same period in 2024, reflecting a significant increase in losses[119]. Subscriber and Service Metrics - GCI Holdings had 153,100 cable modem subscribers as of September 30, 2025, down from 157,400 in 2024, while wireless lines in service increased to 207,500 from 204,000[104]. - Consumer data revenue decreased by $2 million (3.3%) for the three months ended September 30, 2025, primarily due to a decrease in the number of subscribers[108]. - Consumer wireless revenue increased by $5 million (10.6%) for the three months ended September 30, 2025, driven by increased wireless USF support for high-cost areas[109]. - Business data revenue increased by $1 million (0.8%) for the three months ended September 30, 2025, primarily due to service upgrades with existing healthcare and education customers[111]. Impairments and Legal Challenges - The company recorded an impairment of goodwill and intangible assets amounting to $525 million during the third quarter of 2025[102]. - The company recorded an impairment of goodwill and intangible assets of $525 million during the nine months ended September 30, 2025[118]. - The company faces risks from ongoing legal challenges to the constitutionality of the FCC Universal Service Support Programs, which could disrupt or eliminate financial support received[100]. Economic and Operational Environment - The Alaska economy, which GCI Holdings is heavily dependent on, faces recessionary pressures due to volatility in oil prices and inflation, potentially affecting demand for its services[92]. - GCI Holdings continues to monitor inflation-sensitive costs, which have been rising and could impact its ability to maintain margins[93]. Cash Flow and Debt Management - Net cash provided by operating activities increased to $302 million for the nine months ended September 30, 2025, compared to $223 million for the same period in 2024[128]. - As of September 30, 2025, the company had a cash and cash equivalents balance of $124 million[127]. - The projected uses of cash include approximately $80 million for net capital expenditures and $20 million for interest payments on outstanding debt[131]. - As of September 30, 2025, the company has variable rate debt amounting to $372 million with a weighted average interest rate of 6.2%[135]. - The company also holds fixed rate debt totaling $600 million with a weighted average interest rate of 4.8%[135]. Other Financial Considerations - The company expects to incur fees not exceeding approximately $5 million for public company support services from Liberty Media in the first year of the Services Agreement[90]. - The enactment of the One Big Beautiful Bill Act (OBBBA) allowed the company to defer cash taxes to future years, although it did not materially impact income tax expense[94].
GCI Liberty Inc-A(GLIBA) - 2025 Q3 - Quarterly Report