Financial Data and Key Metrics Changes - Total revenue for Q3 2025 was $2.1 billion, a decline of 5.4% year-over-year, primarily driven by video cord cutting, which accounted for nearly 6% of total declines [15][16] - Adjusted EBITDA was $831 million, down 3.6% year-over-year, but showed a 3.3% sequential improvement compared to Q2 2025 [18][22] - Gross margin reached an all-time high of 69.7%, expanding by 160 basis points year-over-year, reflecting a shift away from video [17][24] - Adjusted EBITDA margin improved to 39.4%, the highest in two years, indicating progress in operational efficiency [18][22] Business Line Data and Key Metrics Changes - Video revenues declined close to 10%, contributing significantly to overall revenue declines, while mobile service revenue grew by 38% [7][15] - LightPath revenue increased by almost 6%, and underlying news and advertising revenue, excluding political ads, grew nearly 9% [7][15] - The company lost 58,000 broadband subscribers in Q3, reflecting ongoing competitive pressures [9][10] Market Data and Key Metrics Changes - Competitive intensity increased significantly in September, with competitors ramping up marketing spend and aggressive offers [5][30] - The market remains characterized by historically low growth and heightened competition, particularly from fixed wireless and fiber overbuilders [9][10] Company Strategy and Development Direction - The company is focused on evolving its go-to-market and base management strategies to improve broadband performance and revenue trajectory [6][10] - A disciplined approach prioritizing financial stability and margin protection over subscriber growth is being emphasized [5][30] - The company plans to enhance its product offerings and customer experience to rebuild trust and drive long-term growth [14][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by competitive pressures and macroeconomic conditions but expressed confidence in achieving the full-year adjusted EBITDA target of approximately $3.4 billion [4][22] - The company expects to see a path to slowing revenue decline in core residential and B2B businesses, with a focus on disciplined R2 management and value-added services [18][43] - Management highlighted the importance of maintaining discipline in subscriber acquisition costs and avoiding low-value gross ads [30][34] Other Important Information - The company announced a rebranding from Altice USA to Optimum Communications, effective November 7, 2025, with a new ticker symbol OPTU [28][29] - Capital expenditures for 2025 are projected to be approximately $1.3 billion, reflecting increased investment in LightPath and network upgrades [25][26] Q&A Session Summary Question: Broadband subscriber trends and competitive pressures - Management acknowledged the widening net losses in broadband subscribers due to increased competitive intensity and aggressive offers from competitors [30][31] Question: Cost structure and EBITDA guidance - Management provided insights on operating expense moderation and emphasized the importance of maintaining discipline in subscriber acquisition costs [31][37] Question: Pricing environment and competitive dynamics - Management discussed the need for a balanced approach to pricing and volume, emphasizing the importance of quality and value in their offerings [56][58] Question: Update on low-end product for rural areas - Management reported double-digit improvement in sales and connect rates for the income-constrained product and plans to scale it further [48][49] Question: 2027 debt maturity wall - Management refrained from discussing specific capital structure details but emphasized a disciplined approach to managing financials [52][53]