Financial Performance - Revenue for 2025 was $8.59 billion, a decrease of 4.1% from $8.95 billion in 2024[13] - Adjusted EBITDA for 2025 was $3.34 billion, representing 38.8% of revenue, compared to 38.1% in 2024[13] - The net loss attributable to Optimum Communications stockholders in 2025 was $1.87 billion, compared to a loss of $102.9 million in 2024[13] - Residential broadband revenue in 2025 was $3.54 billion, down from $3.65 billion in 2024, while mobile revenue increased to $164.6 million from $117.1 million[20] Customer Base and Network Expansion - In 2025, Optimum Communications served approximately 4.3 million residential and business customers, with a total of 10.0 million passings in its fiber-rich network[11] - The FTTH network passed approximately 3.1 million homes and businesses, offering symmetrical speeds up to 8 Gbps[21] - As of December 31, 2025, Optimum Communications had approximately 369.9 thousand SMB customers[34] - Lightpath, a subsidiary, connected approximately 17,700 locations to its fiber network, covering about 12,000 unique route miles[35] Service Offerings and Technology - In 2025, Optimum Communications expanded its video offerings, including Entertainment TV, Extra TV, and Everything TV, to additional markets[29] - The company plans to continue upgrading its HFC network with DOCSIS 3.1 technology to enhance broadband services[12] - The ongoing FTTH network build passes approximately 3.1 million homes and businesses, enabling the delivery of multi-gig broadband speeds[66] - The company has upgraded networks to deliver download speeds of up to 1 Gbps in most HFC footprints and up to 8 Gbps in FTTH footprints[65] Competitive Landscape - Verizon and AT&T are significant competitors in the fiber broadband market, with Verizon able to sell fiber-based services to over two-thirds of households in New York, New Jersey, and Connecticut combined[77] - AT&T's FTTP infrastructure covers various markets in the south-central United States, allowing it to sell fiber products to approximately half of the households in those areas[77] - The acquisition of Frontier by Verizon has intensified competition in the fiber broadband market, particularly in Connecticut and parts of Texas, West Virginia, Arizona, and California[77] - The video services market faces competition from cable providers and direct broadcast satellite providers, with cable services offering a competitive advantage due to their ability to bundle additional services[78] Regulatory Environment - The FCC's 2022 review of media ownership rules may lead to the elimination of restrictions on owning multiple stations in a local market, potentially increasing consolidation in the broadcast industry[98] - The FCC is considering the elimination of the national broadcast ownership cap, which currently limits a single entity from reaching more than 39% of U.S. television households[98] - The FCC's rules require cable operators to provide access to public, educational, or governmental channels, which may burden channel capacity[100] - The FCC's program access rules prohibit cable operators from unfairly influencing programming services, which could affect competitive dynamics in the market[102] Operational Challenges - The company relies on a limited number of vendors for customer premise equipment, which poses risks related to supply chain dependencies[71] - The company is subject to environmental regulations that may become more stringent over time, impacting operations and costs[139] - The company must seek approval from state regulatory commissions to provide services, which may involve various operational and financial reporting requirements[132] - The company has faced regulatory scrutiny regarding interconnected VoIP services, which may result in additional compliance costs if classified as telecommunications services[122] Financial Risks and Debt - The company is highly leveraged with substantial indebtedness, requiring significant funding to meet capital expenditures and repay existing obligations[143] - The company’s total aggregate consolidated indebtedness was approximately $26.2 billion, with $7.4 billion of long-term debt maturing in 2027[177] - The company may incur additional indebtedness to fund operations, including capital-intensive initiatives, which could further exacerbate risks associated with its substantial indebtedness[177] - The company relies on capital markets for financing, and disruptions could adversely affect its ability to refinance existing debt or fund strategic transactions[172][175] Customer Experience and Marketing - The company has made significant investments in customer experience, enhancing support through 24/7 call centers and digital channels[60] - The marketing strategy focuses on efficient customer acquisition through various channels, including mass media and targeted digital campaigns[53] - The company has entered into agreements with other video platform operators to jointly sell local advertising, expanding geographic reach[43] Technological Changes and Consumer Behavior - The company operates in a highly competitive environment, facing significant risks from rapid technological changes and increasing programming costs[143] - The company faces intense competition from over-the-top (OTT) services like Netflix, Hulu, and Disney+, which diminishes the perceived value of traditional cable bundles[151] - The company may face challenges in successfully launching and maintaining its mobile voice and data services, which could impact customer retention and revenue growth[162] Service Disruption and Risk Management - The company has developed systems to prevent service disruptions and maintain redundancy and disaster recovery plans to mitigate risks from natural disasters and cyber attacks[204] - A major service disruption could damage the company's reputation and result in a loss of customers or revenue[206] - Any significant loss of customers or revenue could adversely affect the company's results of operations[206]

Financial Data and Key Metrics Changes - Total revenue for Q4 2025 declined by 2.3%, while connectivity and all other revenue grew by 2% year-over-year [4][21] - Adjusted EBITDA grew nearly 8% year-over-year to just over $900 million, marking the first quarter of year-over-year adjusted EBITDA growth in 16 quarters [6][30] - Adjusted EBITDA margin expanded to over 41%, up 380 basis points year-over-year, with gross margin reaching approximately 70%, up 180 basis points [6][23] Business Line Data and Key Metrics Changes - Broadband subscriber net losses were 62,000 in Q4, ending the year with 4.2 million subscribers, primarily due to fewer gross additions and higher churn [17] - Fiber customer accounts reached 716,000, representing 33% year-over-year growth, with 12,000 net adds in Q4 [17] - Mobile lines grew to 623,000, with a 35% year-over-year increase, and annualized mobile churn improved by over 700 basis points [18] Market Data and Key Metrics Changes - Video subscribers decreased by 13% year-over-year, with a net loss of 49,000 in Q4, although this was the lowest quarterly loss in over five years [19] - News and Advertising revenue declined by 8%, but excluding political revenue, it grew by 6% [21] - Lightpath revenue reached $468 million in 2025, representing 13% growth year-over-year, driven by demand from hyperscale customers [27] Company Strategy and Development Direction - The company is focused on improving broadband trajectory by simplifying product offerings and enhancing customer experience through AI and automation [10][12] - A disciplined approach to pricing and programming costs is being maintained to improve video profitability despite industry-wide challenges [12][56] - Continued investment in fiber expansion and targeted network upgrades is seen as essential for long-term value creation [14][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the hypercompetitive environment and emphasized the importance of operational discipline and customer experience improvements [35][36] - The company is optimistic about leveraging foundational work from 2025 to enhance go-to-market strategies in 2026 [36][39] - Management remains focused on maintaining financial discipline while investing in strategies to stabilize broadband trends [38][39] Other Important Information - Cash capital expenditures totaled approximately $1.3 billion for the full year 2025, with a capital intensity of less than 16% [25] - The company completed several debt refinancings in 2025, improving liquidity and financial flexibility [29] - Lightpath's awarded AI-driven contract value increased by 240% year-over-year, indicating strong growth potential [26] Q&A Session Questions and Answers Question: Can you unpack broadband subscriber trends for Q4 and expectations for 2026? - Management noted that Q4 faced unprecedented competitive pressures, but foundational work in 2025 positions the company to improve broadband trends in 2026 [34][36] Question: What is the update on the balance sheet and debt refinancings? - Management highlighted the importance of a strong capital structure for long-term goals and mentioned the recent $1.7 billion ABS transaction to repay existing Lightpath debt [44][45] Question: Can you discuss the strength of residential broadband ARPU? - Residential ARPU grew by 0.4% year-over-year, driven by broadband expansion despite video headwinds, indicating effective pricing strategies [48][49] Question: What are the expectations around video programming costs? - Management reported a 16% reduction in programming costs for the quarter, emphasizing a disciplined approach to negotiations and packaging [56][57] Question: How is competition affecting the business? - The competitive landscape remains intense, particularly in the East with significant fiber overbuild, but management believes the company is well-positioned to compete effectively [66][67]

Financial Data and Key Metrics Changes - Total revenue for Q4 2025 declined by 2.3% year-over-year, with full year revenue at approximately $8.6 billion [4][9] - Adjusted EBITDA grew nearly 8% year-over-year to just over $900 million, marking the first quarter of year-over-year adjusted EBITDA growth in 16 quarters [6][24] - Adjusted EBITDA margin expanded to over 41%, up 380 basis points year-over-year, while gross margin reached approximately 70%, up 180 basis points [6][24] Business Line Data and Key Metrics Changes - Broadband subscriber results showed a net loss of 62,000 subscribers in Q4, ending the year with 4.2 million broadband subscribers [17] - Fiber customer accounts grew by 33% year-over-year, reaching 716,000, with 12,000 net additions in Q4 [17][18] - Mobile lines reached 623,000, representing 35% year-over-year growth, with a net addition of 38,000 lines in Q4 [18] - Video subscribers decreased by 13% year-over-year, with a net loss of 49,000 in Q4, although this was the lowest quarterly loss in over five years [20] Market Data and Key Metrics Changes - Connectivity and all other revenue grew by 2% year-over-year, supported by mobile revenue growth of over 40% and business services growth of over 8% [22] - Residential ARPU grew by 0.4% to $134.49, with broadband ARPU increasing by 2.8% year-over-year to $76.71, the highest in 14 quarters [23][24] Company Strategy and Development Direction - The company is focused on simplifying operations to enhance customer and employee experiences, with priorities including improving broadband trajectory and maintaining financial discipline [10][11] - Investments in AI and automation are being leveraged to improve operational efficiency and customer service [12][13] - The company aims to balance capital expenditures with long-term economics, emphasizing fiber expansion and targeted network upgrades [15][16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the hypercompetitive environment and emphasized the importance of disciplined execution and operational improvements made in 2025 to support long-term EBITDA stability [40][41] - The company is optimistic about its ability to improve broadband trends and customer retention through new pricing and product strategies [38][39] Other Important Information - Cash capital expenditures for the full year totaled approximately $1.3 billion, with a capital intensity of less than 16%, the most efficient in the last four years [27][28] - Lightpath revenue reached $468 million in 2025, representing 13% growth year-over-year, driven by demand from hyperscale customers [29] Q&A Session Summary Question: Update on broadband subscribers and expectations for 2026 - Management noted that Q4 faced unprecedented competitive pressures but emphasized foundational work done in 2025 to improve market positioning and customer experience [36][38] Question: Balance sheet update and debt management - Management highlighted the importance of a strong capital structure and mentioned recent debt refinancings to enhance liquidity and financial flexibility [45][46] Question: Strength of residential broadband ARPU - Management reported a 0.4% year-over-year growth in residential ARPU, driven by broadband and mobile services, despite video headwinds [50][51] Question: Expectations around video programming costs - Management indicated a focus on renegotiating programming costs, achieving a 16% reduction in the quarter, and emphasized a disciplined approach to pricing and packaging [56][57] Question: Competitive landscape and market pressures - Management described the competitive environment as intense, particularly in the East with significant fiber overbuild, but expressed confidence in their product offerings and pricing strategies [65][66]

Financial Data and Key Metrics Changes - Total revenue for Q4 2025 declined by 2.3% year-over-year, with full year revenue at approximately $8.6 billion [4][8] - Adjusted EBITDA grew nearly 8% year-over-year to just over $900 million, marking the first quarter of year-over-year adjusted EBITDA growth in 16 quarters [5][26] - Adjusted EBITDA margin expanded to over 41%, up 380 basis points year-over-year, while gross margin reached approximately 70%, up 180 basis points [5][25] - Full year 2025 adjusted EBITDA was $3.4 billion, excluding the divested i24NEWS business [9] Business Line Data and Key Metrics Changes - Connectivity and all other revenue grew by 2% year-over-year, while video revenue declined almost 10% [22][23] - Broadband ARPU grew by 2.8% year-over-year to $76.71, the highest quarterly broadband ARPU in 14 quarters [24] - Mobile lines reached 623,000, representing 35% year-over-year growth, with mobile churn improving by over 700 basis points [19] - Video subscribers decreased by 13% year-over-year, with a net loss of 49,000 video subscribers in Q4, the lowest quarterly video net losses in over five years [20] Market Data and Key Metrics Changes - The competitive environment intensified, with unprecedented levels of promotional activity impacting subscriber growth [4][18] - The company experienced heightened price sensitivity among customers, contributing to fewer gross additions and higher churn year-over-year [18] - Lightpath revenue reached $468 million in full year 2025, representing 13% growth year-over-year, driven by demand from hyperscale customers [30] Company Strategy and Development Direction - The company is focused on simplifying operations to enhance customer and employee experiences, with priorities including improving broadband trajectory and maintaining financial discipline [10][11] - Investments in AI and automation are being leveraged to enhance operational efficiency and customer experience [12][13] - The company aims to balance capital expenditures with long-term economics, emphasizing fiber expansion and targeted network upgrades [16][17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the hypercompetitive landscape and emphasized the importance of disciplined execution and operational improvements made in 2025 [39][41] - The company is optimistic about its ability to improve broadband trends and stabilize EBITDA in 2026, supported by the foundational work done in 2025 [41][42] - Management highlighted ongoing efforts to optimize costs without compromising network performance or customer experience [14][33] Other Important Information - Cash capital expenditures for full year 2025 totaled approximately $1.3 billion, with a capital intensity of less than 16%, the most efficient in the last four years [27] - The company completed several debt refinancings in 2025, improving liquidity and expanding financial flexibility [32] Q&A Session All Questions and Answers Question: Can you unpack the broadband subscriber trends and expectations for 2026? - Management noted that Q4 faced unprecedented competitive pressures, but emphasized the foundational work done in 2025 to position for future improvements [37][39] Question: What is the update on the balance sheet and debt management? - Management highlighted the importance of meaningful debt reduction and a reset of the balance sheet to support long-term goals, with recent refinancings enhancing liquidity [46][47] Question: Can you discuss the strength of residential broadband ARPU? - Management confirmed that residential ARPU grew 0.4% year-over-year, driven by broadband expansion despite video headwinds [49][50] Question: What are the expectations around programming costs per subscriber? - Management reported a 16% reduction in programming costs for the quarter, emphasizing a disciplined approach to negotiations and cost management [57][58] Question: How is the competitive landscape evolving? - Management indicated that competitive intensity remains high, particularly from Verizon in the East, but expressed confidence in the company's product offerings and pricing strategies [66][67]

NON-GAAP FINANCIAL MEASURES We define Adjusted EBITDA, which is a non-GAAP financial measure, as net income (loss) excluding income taxes, non-operating income or expenses, gain (loss) on extinguishment of debt and write-off of deferred financing costs, gain (loss) on interest rate swap contracts, gain (loss) on derivative contracts, gain (loss) on investments and sale of affiliate interests, interest expense, net, depreciation and amortization, share-based compensation, restructuring, impairments and other ...

Financial Performance - Total revenue for Q4 2025 was $2.18 billion, a decrease of 2.3% year over year, and $8.6 billion for FY 2025, down 4.1% year over year[5] - Adjusted EBITDA for Q4 2025 was $902.2 million, reflecting a 7.7% year-over-year increase, with a margin of 41.3%, while FY 2025 Adjusted EBITDA was $3,335.6 million, down 2.3% year over year[5] - Operating income for Q4-25 is reported at $397.6 million, an increase from $340.8 million in Q4-24, indicating a growth of approximately 16.6%[16] - Net loss attributable to Optimum Communications stockholders for FY-25 is projected at $1,869.0 million, compared to $102.9 million in FY-24, indicating a significant increase in losses[16] - The net loss for the twelve months ended December 31, 2025, was $1,833,047 thousand, a significant increase from a net loss of $78,277 thousand in 2024[18] - Adjusted EBITDA for the twelve months ended December 31, 2025, was $3,335,633 thousand, with an Adjusted EBITDA margin of 38.8%, compared to $3,413,181 thousand and 38.1% in 2024[24] - Free Cash Flow deficit was $199.4 million in Q4 2025, compared to a deficit of $49.9 million in Q4 2024, and ($118.8) million for FY 2025 compared to $149.4 million in FY 2024[5] - Net cash provided by operating activities for the twelve months ended December 31, 2025, was $1,228,457 thousand, down from $1,582,401 thousand in 2024[25] - Free Cash Flow (Deficit) for the twelve months ended December 31, 2025, was $(118,837) thousand, compared to $149,388 thousand in 2024[25] Customer Metrics - Broadband primary service units (PSUs) experienced net losses of 62,000 in Q4 2025, compared to 39,000 in Q4 2024, with total broadband subscribers ending at 4.2 million[5] - Fiber customer net additions were 12,000 in Q4 2025 and 178,000 for FY 2025, with total fiber customers reaching 716,000, a 33% increase year over year[6] - Mobile line net additions were 38,000 in Q4 2025 and 163,000 for FY 2025, resulting in a total of 623,000 mobile lines, a 35% increase year over year[6] - Total customer net losses for FY-24 amounted to 191.1 thousand, with a further projected loss of 216.6 thousand for FY-25[14] - FTTH total customer relationships increased to 715.9 thousand by Q4-25, up from 538.2 thousand in Q4-24, representing a growth of 32.9%[15] - Subscriber net additions for broadband and video services were affected by a small system sale, excluding 8.3 thousand passings and 1.9 thousand broadband subscribers[10] Revenue and Pricing - Broadband ARPU increased by 2.8% year over year to $76.71 in Q4 2025, while Residential ARPU rose by 0.4% to $134.49[5] - Residential ARPU for FY-25 is expected to be $134.18, slightly down from $135.44 in FY-24, reflecting a decrease of about 0.9%[14] - Broadband revenue for Q4-25 is reported at $884.1 million, a decrease from $900.1 million in Q4-24, indicating a decline of approximately 1.1%[16] - Total revenue for FY-25 is projected to be $8,590.5 million, a decrease from $8,954.4 million in FY-24, reflecting a year-over-year decline of approximately 4.1%[16] Debt and Financing - Consolidated net debt for Optimum Communications was $25.29 billion, with a consolidated net leverage of 7.3x L2QA[7] - Total gross debt consolidated as of December 31, 2025, was $26,302 million, with net debt including finance leases amounting to $25,396 million[28] - The net leverage ratio (LTM) for the consolidated group was 7.6x as of December 31, 2025, compared to 7.3x (L2QA)[27] - Recent refinancing activities included an incremental term loan commitment of $1.1 billion to refinance existing debt and support general corporate purposes[12] - The company has increased its revolving loan commitments to $115 million, with $95 million due by June 15, 2027[19] Strategic Focus - The company plans to focus on simplification and improved broadband trends to enhance customer retention and overall value[6] - The company aims to improve broadband trends by simplifying packaging and pricing, enhancing convergence, and expanding value-added product sell-in[34] - Optimum Communications plans to maintain financial discipline through base management, product margin expansion, and investments in AI and automation capabilities[34] - The company is focused on long-term value creation through fiber expansion, network upgrades, and investment in technology and tools[34] - Future expectations include achieving targets for revenue, broadband ARPU, and Adjusted EBITDA, reflecting the company's growth strategy[34] Capital Expenditures and Impairments - Capital expenditures for the twelve months ended December 31, 2025, were $1,347,294 thousand, slightly lower than $1,433,013 thousand in 2024[18] - The company reported a significant impairment of $1,611,308 thousand related to indefinite-lived cable franchise rights[18] Operational Insights - The company experienced a decrease in cash and cash equivalents at the end of the year, totaling $1,141,443 thousand, up from $256,824 thousand at the beginning of the year[18] - Optimum Communications serves approximately 4.3 million residential and business customers across 21 states[33] - The total estimated number of single residence homes, apartments, and condominium units passed by the FTTH network is significant, with approximately 26 thousand total passings not having broadband services available[12]

Summary of Optimum Communications Conference Call Company Overview - **Company**: Optimum Communications - **Industry**: Telecommunications Key Points and Arguments 2026 Priorities - The company is focused on stabilizing broadband as its first priority, which includes enhancing base management and leveraging AI and automation for better customer communication and service delivery [4][5] - Elevating customer experience and operational efficiency through AI investments is a significant focus area [6] - Continued investment in network infrastructure, including mid-splits and expanding fiber capabilities, is planned [6][7] - A major priority is to optimize the capital structure for sustainable long-term growth [7] Competitive Landscape - The competitive environment has intensified, particularly in Q4, with aggressive pricing strategies from competitors, including offers for gigabit services below $40 and various promotional incentives [13][14] - The company is testing new pricing and packaging strategies to stabilize broadband performance [14] - The macroeconomic environment is affecting customer mobility, with many consumers hesitant to move due to attractive mortgage rates [18] Financial Structure and Debt Management - Recent financing from JPMorgan has provided financial flexibility and a leverage-neutral position [10] - The company is focused on meaningful debt reduction and resetting its balance sheet to support long-term objectives [11][23] - The potential use of Asset-Backed Securities (ABS) for funding is being explored [12] Fiber Deployment and Market Position - The company has made progress in fiber deployment, with 3 million passings and 700,000 customers on its fiber network [26][34] - The focus is on driving fiber growth while managing capital constraints [22][23] - Improved Net Promoter Score (NPS) and reduced churn rates are observed in fiber markets [26] Mobile and Video Products - Mobile penetration is currently at 7%, with expectations for growth as the product matures [29][34] - The new video packages have achieved a 13% penetration rate, offering customers flexibility and choice [41][42] - Partnerships with streaming services like Netflix and Disney are enhancing the video offering [42] Operational Efficiency and Cost Management - The company has implemented a 5% workforce reduction aimed at improving efficiency without impacting frontline staff [56] - Significant reductions in call volume and service visits have been achieved, contributing to operational efficiency [56] Future Outlook - The company expects to see year-over-year EBITDA growth for the first time in 16 quarters, with a guidance of $3.3 to $3.4 billion for Q4 [55][56] - Continued focus on leveraging AI and automation to enhance customer experience and operational efficiency is planned [59] - The company remains open to value-accretive transactions but is primarily focused on its transformation efforts [60] Lightpath Opportunity - The Lightpath segment is expected to generate over $100 million in sales, with ongoing efforts to expand its footprint beyond the current service areas [48][50] - The team is actively pursuing new business opportunities in various locations, indicating a strong growth potential [50] Additional Important Insights - The company is committed to advocating for customer interests in negotiations with programming partners to manage video costs effectively [42] - The overall strategy emphasizes quality and value, aiming to simplify customer interactions and enhance service delivery through digital and automated solutions [46][47]

Three top executives of Optimum — previously known as Altice USA — will split nearly $2 million in special cash bonuses to reward their contributions to the telecommunications company’s capital raising efforts https://t.co/n6Efkqd8uT ...

Core Insights - Lightpath is expanding its AI-grade fiber network in Greater Columbus, Ohio, adding approximately 150 route miles of high-density fiber, which more than doubles its fiber footprint in the region [1][2][3] Group 1: Expansion and Infrastructure - The expansion reinforces Lightpath's presence in the Midwest and aims to deliver next-generation network infrastructure tailored for AI-driven workloads [2][3] - Engineering and construction for the new network are already underway, with phased completion expected from the end of 2026 through mid-2027 [2] Group 2: Market Position and Strategy - Columbus is recognized as a leading U.S. destination for data center and AI investment, highlighting the scale of hyperscale demand that Lightpath is committed to meeting [3][4] - The expanded network will utilize new underground, multi-conduit systems with high-count fiber capacity to support both metro and regional long-haul applications [3] Group 3: Customer Engagement and Connectivity - Lightpath aims to strengthen its position as a trusted partner for hyperscale, carrier, and large enterprise customers across the Midwest, setting the stage for growth and new AI-grade connectivity opportunities [4] - The company operates dense metro and regional fiber systems across major U.S. markets, connecting nearly 200 data centers to support next-generation workloads in the AI economy [4]

Core Insights - Altice USA Inc. reported disappointing third-quarter 2025 results, with both net income and revenues falling short of the Zacks Consensus Estimate, primarily due to weak demand in Residential, Business Services, and Wholesale segments [1] Financial Performance - The company recorded a net loss of $1.62 billion, equating to a loss of $3.47 per share, compared to a net loss of $42.9 million or 9 cents per share in the same quarter last year [2] - Total revenues for the quarter were $2.1 billion, down 5.4% year over year, missing the consensus estimate of $2.14 billion [3][10] - Adjusted earnings per share were reported as a loss of 12 cents, missing the Zacks Consensus Estimate by 8 cents [2] Revenue Breakdown - Residential revenues, which include Broadband, Video, and Telephony, decreased to $1.62 billion from $1.73 billion year over year, missing the estimate of $1.68 billion [7] - Business Services and Wholesale revenues fell to $361.9 million from $366.3 million in the prior year, but exceeded the revenue estimate of $339.6 million [6] - News and Advertising revenues declined to $105.9 million from $117.7 million year over year, missing the estimate of $106.7 million [6] Customer Metrics - Fiber broadband net additions exceeded 40,400 in the quarter, with total fiber broadband customers reaching 703,400 [5][10] - The company had 3.05 billion FTTH (Fiber to the Home) passings, with approximately 29,600 added during the quarter [4] - The average revenue per user (ARPU) for residential customers declined to $133.28 from $135.77 a year ago [5] Operational Highlights - The company reported an operating loss of $1.16 billion compared to a net income of $444.9 million in the prior year [8] - Adjusted EBITDA was $830.7 million, down from $861.9 million in the same quarter last year [8] - Mobile line net additions were 38,000 during the quarter, contributing to overall growth [8] Cash Flow and Debt - Altice generated $147.5 million in cash from operating activities, a significant decrease from $436 million a year ago [11] - As of September 30, 2025, the company's net debt stood at $25.3 billion [11]