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 in the same period of 2024 [102]. - The company experienced a net loss of $387 million for the three months ended September 30, 2025, compared to a net earnings of $21 million in the same period of 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, increased to $313 million 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]. Subscriber Metrics - The number of cable modem subscribers decreased from 157,400 in September 2024 to 153,100 in September 2025, while wireless lines in service increased from 204,000 to 207,500 during the same period [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 Losses - The company recorded an impairment of goodwill and intangible assets amounting to $525 million for the three and nine months ended September 30, 2025 [102]. - 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]. - The company recorded an impairment of goodwill and intangible assets of $525 million during the nine months ended September 30, 2025 [118]. Economic and Regulatory Environment - The Alaska economy, which GCI Holdings is dependent on, is facing recessionary pressures due to volatility in oil prices and inflation, potentially affecting demand for GCI's products and services [92]. - The company anticipates that ongoing inflationary pressures on materials and labor could impact its cost structure and margins [93]. - 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]. - The company is monitoring the potential impacts of a federal government shutdown on the timeliness of government grant approvals and funding [95]. Cash Flow and Debt - 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 net capital expenditures for the company are approximately $80 million [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].
GCI Liberty Inc-C(GLIBK) - 2025 Q3 - Quarterly Report