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GCI Liberty, Inc.
GLIBBCIK 0002057463OTCEmerging GrowthCable & Other Pay Television ServicesNevadaFY ends Dec 31
Period
FY 2025
Revenue
$1.05B
Net Income
$-309.00M
Total Assets
$3.23B
Equity
$1.69B
Shares Out
—
Op. Cash Flow
$370.00M
Business
GCI Liberty, Inc. owns the GCI Business and operates as an integrated communications provider primarily serving Alaska through its consolidated subsidiary GCI Holdings. It offers data services, mobile wireless (4G/5G), wireline voice, managed network services, and related business and government connectivity solutions, and has exited its video business. Its key operating entity is GCI Holdings, which segments operations across network services, wireless services, wireline voice, and business managed services. GCI Liberty distributes services across urban and remote Alaskan communities using fiber, microwave, satellite, a statewide wireless network, retail channels, and carrier/wholesale relationships.
Summary from filing dated 2026-02-11
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Revenue | 1,046 | 1,016 | |
| Operating expense (exclusive of depreciation and amortization) | 523 | 539 | |
| Selling, general and administrative expense (including stock-based compensation) | 133 | 130 | |
| Depreciation and amortization | 212 | 207 | |
| Impairment of goodwill and intangible assets (note 4) | 525 | 0 | |
| Cost and expenses | 1,393 | 876 | |
| Operating income (loss) | −347 | 140 | |
| Interest expense (including amortization of deferred loan fees) | −45 | −49 | |
| Other, net | 6 | 6 | |
| Total other income (expense) | −39 | −43 | |
| Earnings (loss) before income taxes | −386 | 97 | |
| Income tax benefit (expense) | 77 | −27 | |
| Net earnings (loss) | −309 | 70 | |
| Basic net earnings (loss) attributable to Series A, Series B and Series C GCI Group shareholders per common share (note 2) | −9.97 | 2.26 | |
| Diluted net earnings (loss) attributable to Series A, Series B and Series C GCI Group shareholders per common share (note 2) | −9.97 | 2.26 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2025 2025-06-30 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 416 | — | 74 | — | |
| Trade and other receivables, net | 141 | — | 184 | — | |
| Prepaid and other current assets | 58 | — | 61 | — | |
| Total current assets | 615 | — | 319 | — | |
| Property and equipment, net (note 2) | 1,257 | — | 1,150 | — | |
| Goodwill | 638 | — | 746 | 746 | |
| Total Intangible assets not subject to amortization | 812 | — | 1,337 | — | |
| Intangible assets subject to amortization, net (note 4) | 372 | — | 411 | — | |
| Deferred income tax assets (note 7) | 31 | — | — | — | |
| Other assets, net | 147 | — | 165 | — | |
| Total assets | 3,234 | — | 3,382 | — | |
| Accounts payable and accrued liabilities | 123 | — | 110 | — | |
| Deferred revenue | 23 | — | 21 | — | |
| Current portion of debt (note 5) | 4 | — | 3 | — | |
| State income taxes payable | — | 91 | — | — | |
| Other current liabilities | 46 | — | 58 | — | |
| Total current liabilities | 196 | — | 192 | — | |
| Long-term debt, net (note 5) | 979 | — | 1,066 | — | |
| Obligations under tower obligations and finance leases (note 6) | 69 | — | 72 | — | |
| Long-term deferred revenue | 130 | — | 113 | — | |
| Deferred income tax liabilities (note 7) | — | — | 359 | — | |
| Other liabilities | 154 | — | 151 | — | |
| Total liabilities | 1,528 | — | 1,953 | — | |
| Redeemable noncontrolling interest in equity of subsidiary (note 8) | 18 | — | 15 | — | |
| Former member's investment | — | — | 1,777 | — | |
| Additional paid-in capital | 2,360 | — | — | — | |
| Retained earnings (deficit) | −672 | — | −363 | — | |
| Total equity | 1,688 | — | 1,414 | 1,483 | |
| Commitments and contingencies (note 13) | — | — | — | — | |
| Total liabilities and equity | 3,234 | — | 3,382 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Net earnings (loss) | −309 | 70 | |
| Stock-based compensation | 13 | 13 | |
| Deferred income tax expense (benefit) | −391 | 10 | |
| Non-cash changes in taxes payable | 206 | — | |
| State indemnification received from Liberty Broadband | 91 | — | |
| Amortization of right-of-use assets | 50 | 52 | |
| Other, net | −4 | −4 | |
| Decrease (increase) in accounts receivable | 38 | −14 | |
| Decrease (increase) in other assets | −3 | −4 | |
| (Decrease) increase in operating lease liabilities | −51 | −49 | |
| (Decrease) increase in other liabilities | −7 | −3 | |
| Net cash provided by (used in) operating activities | 370 | 278 | |
| Capital expenditures | −248 | −247 | |
| Grant proceeds received for capital expenditures | 24 | 54 | |
| Other investing activities, net | 6 | — | |
| Net cash provided by (used in) investing activities | −218 | −193 | |
| Borrowings of debt | 691 | 155 | |
| Repayment of debt, tower obligations and finance leases | −779 | −107 | |
| Proceeds from rights offering, net | 299 | — | |
| Dividends paid to former parent | — | −150 | |
| Other financing activities, net | −9 | −5 | |
| Net cash provided by (used in) financing activities | 202 | −107 | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 354 | −22 |
Filings
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