Subscriber Metrics - As of September 30, 2025, the company served 3,978,800 RGUs, including 1,807,900 broadband internet subscribers, 1,255,100 fixed-line telephony subscribers, and 915,800 video subscribers[186]. - The company served 6,682,700 mobile subscribers as of September 30, 2025[186]. - The average number of RGUs increased by 1.5 million (3-month) and 5.4 million (9-month), while ARPU decreased by $4.3 (3-month) and $14.1 (9-month) due to lower video service revenues[223]. Revenue Performance - Revenue for the three months ended September 30, 2025, was $1,112.5 million, an increase of $23.3 million or 2.1% from $1,089.2 million in 2024[201]. - For the nine months ended September 30, 2025, revenue was $3,282.7 million, a decrease of $23.9 million or 0.7% from $3,306.6 million in 2024[201]. - Liberty Caribbean's total revenue for the three months ended September 30, 2025, was $368.8 million, an increase of $9.3 million (2.6%) compared to $359.5 million in 2024[212]. - Liberty Puerto Rico's total revenue for the three months ended September 30, 2025, was $298.2 million, a decrease of $10.0 million (3.2%) from $308.2 million in 2024[212]. - Liberty Costa Rica's total revenue for the three months ended September 30, 2025, was $154.5 million, an increase of $9.0 million (6.2%) compared to $145.5 million in 2024[222]. Operating Income and Adjusted OIBDA - Operating income for the three months ended September 30, 2025, was $187.5 million, a significant improvement of $567.1 million from an operating loss of $379.6 million in 2024[201]. - Adjusted OIBDA for the three months ended September 30, 2025, was $433.4 million, compared to $403.1 million in 2024, reflecting an increase of $30.3 million or 7.5%[205]. - The nine months ended September 30, 2025, saw a consolidated Adjusted OIBDA of $1,255.0 million, up from $1,166.4 million in 2024, marking an increase of 7.6%[206]. Costs and Expenses - Programming and other direct costs of services for the three months ended September 30, 2025, were $247.6 million, an increase of $15.7 million or 6.8% from $231.9 million in 2024[201]. - Other operating costs and expenses for the three months ended September 30, 2025, decreased by $23.6 million to $446.5 million from $470.1 million in 2024[201]. - Personnel and contract labor costs for the nine months ended September 30, 2025, decreased by $18.5 million (4.2%) to $423.0 million compared to $441.5 million in 2024[242]. - Depreciation and amortization expenses decreased by $32 million or 13% for the three months ended September 30, 2025, and by $70 million or 10% for the nine months ended September 30, 2025, compared to the same periods in 2024[259]. Foreign Currency and Tax Impacts - Changes in foreign currency exchange rates may significantly impact the company's operating results, particularly in Liberty Costa Rica and certain entities within C&W[197]. - The company recognized a total of $17.3 million in impairment, restructuring, and other operating items for the three months ended September 30, 2025, compared to $521.4 million in 2024[260]. - The income tax benefit for the three months ended September 30, 2025, was $4 million, down from $146 million in 2024[272]. - For the nine months ended September 30, 2025, total foreign currency transaction losses amounted to $46.0 million, an increase from $30.7 million in 2024[268]. Strategic Developments - The company entered into an agreement with Millicom to combine operations in Costa Rica, with Liberty Latin America and its minority partner holding an approximate 86% interest[190]. - On September 11, 2025, the Costa Rican telecommunications regulator prohibited the transaction with Millicom, citing potential negative effects[191]. - The company agreed to acquire an additional 8.5% equity in Liberty Costa Rica for approximately $84 million, with payments structured over two years[193]. - The company entered into an agreement with EchoStar to acquire its prepaid business and spectrum assets in Puerto Rico for a total cash consideration of $256 million, payable in four annual installments[194]. Market Competition - The company faced significant competition across all markets, impacting its ability to maintain RGUs, ARPU, and B2B revenue[209]. - C&W Panama's B2B revenue increased by $9.6 million (14%) in the three-month period, rising from $69.1 million to $78.7 million[216]. - Liberty Networks reported total B2B revenue for the three months ended September 30, 2025, was $116.7 million, an increase of $6.8 million or 6.2% from $109.9 million in 2024[218].
Liberty Latin America(LILAK) - 2025 Q3 - Quarterly Report