Optimum Communications, Inc.

Listed Company

OPTUCIK 0001702780NYSEAcceleratedCable & Other Pay Television ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$8.59B

Net Income

$-1.87B

Total Assets

$30.70B

Equity

$-2.31B

Shares Out

470.46M

Op. Cash Flow

$1.23B

Business

Optimum Communications, Inc. provides broadband communications, video and related connectivity services marketed under the Optimum brand. It offers residential and business broadband, video, VoIP telephony, mobile services, enterprise-grade fiber connectivity and managed services, as well as advertising and news programming. Key operating divisions include residential services, small and medium business offerings, its Lightpath enterprise fiber business, mobile services and advertising/news businesses (News 12, Optimum Media, Juice Media). Services are delivered across a fiber-rich HFC and FTTH network in 21 U.S. states (primarily the New York metropolitan area and select south-central markets) through retail stores, e‑commerce, call centers, franchise systems and wholesale interconnect arrangements.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue (including revenue from affiliates of $214, $459 and $1,471, respectively) (See Note 16)	8,590	8,954	9,237	9,648	10,091
Programming and other direct costs (including charges from affiliates of $6,491, $11,645 and $13,794, respectively) (See Note 16)	2,637	2,897	3,030	3,206	3,382
Other Cost and Expense, Operating	2,682	2,712	2,646	2,735	2,380
Restructuring, impairments and other operating items	1,687	24	215	130	17
Depreciation and amortization	1,697	1,642	1,644	1,774	1,787
Total operating expenses	8,703	7,274	7,535	7,845	7,566
Operating Income (Loss), Total	−113	1,680	1,702	1,803	2,525
Interest expense, net	−1,791	−1,763	−1,639	−1,332	−1,267
Gain on investments and sale of affiliate interests, net	5,000	670,000	180	−660	−89
Loss on derivative contracts, net	0	0	−166	426	86
Gain on interest rate swap contracts, net	613,000	19	33	272	93
Gain (loss) on extinguishment of debt and write-off of deferred financing costs	−24	−13	4	−575,000	−52
Other income (expense), net	−3	−6	5	9	10
Total other income (expense)	−1,817	−1,762	−1,583	−1,286	−1,219
Income (loss) before income taxes	−1,930	−82	119	517	1,306
Income tax benefit (expense)	97	4	−40	−296	−295
Net income (loss)	−1,833	−78	79	221	1,011
Net income attributable to noncontrolling interests	−36	−25	−26	−26	−21
Net Income (Loss) Attributable to Parent, Total	−1,869	−103	53	195	990
Basic income (loss) per share	−4	−0.22	0.12	0.43	2.16
Basic weighted average common shares (in thousands)	468	460	455	453	458
Diluted income (loss) per share	−4	−0.22	0.12	0.43	2.14
Diluted weighted average common shares (in thousands)	468	460	455	453	462
Cash dividends declared per common share	0	0	0	0	0

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2023 2023-09-30	FY 2022 2022-12-31
Cash and cash equivalents	1,012	257	302	—	305
Restricted cash	107	290,000	280,000	—	267,000
Accounts receivable, trade (less allowance for credit losses of $35,389 and $24,232, respectively)	336	332	358	—	366
Prepaid expenses and other current assets ($475 and $314 due from affiliates, respectively)	189	142	175	—	131
Total current assets	1,645	731	835	—	2,568
Property, plant and equipment, net of accumulated depreciation of $9,835,958 and $8,762,014, respectively	8,351	8,415	8,118	—	7,501
Right-of-use operating lease assets	244	248	256	—	251
Other assets	120	94	195	—	260
Amortizable intangibles, net of accumulated amortization of $6,461,571 and $6,190,154, respectively	702	961	1,259	—	1,660
Indefinite-lived cable franchise rights	11,600	13,211	13,216	—	13,216
Goodwill	8,041	8,041	8,045	8,208	8,209
Total assets	30,704	31,701	31,924	—	33,665
Accounts payable	817	971	937	—	1,214
Interest payable	414	406	275	—	252
Accrued employee related costs	206	192	182	—	139
Contract with Customer, Liability, Current	147	74	85	—	81
Long-Term Debt, Current Maturities	61	185	359	—	2,075
Other current liabilities	406	425	470	—	279
Liabilities, Current, Total	2,051	2,255	2,308	—	4,040
Other liabilities	316	320	221	—	275
Deferred tax liability	4,233	4,456	4,848	—	5,082
Right-of-use operating lease liability	250	255	265	—	260
Long-term debt, net of current maturities	26,145	24,872	24,716	—	24,513
Liabilities, Total	32,996	32,158	32,358	—	34,169
Preferred stock, $0.01 par value, 100,000,000 shares authorized, no shares issued and outstanding	0	0	0	—	0
Paid-in capital	253	234	187	—	183
Retained Earnings (Accumulated Deficit)	−2,573	−704	−601	—	−654
Total stockholders' equity before accumulated other comprehensive Income and non-controlling interest	−2,316	−465	−409	—	−467
Treasury stock, at cost (967,629 shares of Class A common stock)	10,000	10,000	0	—	0
Accumulated Other Comprehensive Income (Loss), Net of Tax	2	−4	−13	—	−8
Total Optimum Communications, Inc. stockholders' deficiency	−2,314	−469	−422	—	−475
Noncontrolling interests	22	12	−12	—	−29
Total stockholders' deficiency	−2,292	−457	−434	—	−504
Total liabilities and member's deficiency	30,704	31,701	31,924	—	33,665

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Gain on investments, sale of assets, or sale of affiliate interests	−55	−670,000	−180	660	89
Amortization of deferred financing costs and discounts (premiums) on indebtedness	26	20	34	77	91
Share-based compensation expense	64	67	48	160	98
Deferred income taxes	−223	−396	−227	36	41
Decrease in right-of-use assets	45	45	46	44	44
Allowance for credit losses	68	87	84	88	69
Indefinite-lived cable franchise rights impairment	1,611	0	0	—	—
Goodwill impairment	0	0	163	0	0
Other	4	6	11	3	5
Accounts receivable, trade	−72	−59	−78	−45	−30
Prepaid expenses and other assets	−64	30	−55	50	28
Amounts due from and due to affiliates	117,000	−44	51	−8	24
Accounts payable and accrued liabilities	−139	4	−69	39	−177
Interest payable	8	132	30	7	—
Deferred revenue	60	11	9	−15	−41
Interest rate swap contracts	8	104	73	−301	−150
Net cash provided by operating activities	1,228	1,582	1,826	2,367	2,854
Capital expenditures	−1,347	−1,433	−1,705	−1,914	−1,232
Payments for acquisitions, net of cash acquired	−8	−39	0	−2	−340
Proceeds related to sale of equipment, net of costs of disposal	66	6	8,000	—	—
Additions to other intangible assets	−4	−1	−924,000	—	—
Other, net	0	11	−796,000	−5	−1
Net cash used in investing activities	−1,294	−1,456	−1,707	−1,922	−1,574
Proceeds from long-term debt	3,835	4,215	2,700	4,277	4,410
Repayment of debt	−2,561	−4,223	−2,688	−4,470	−4,870
Proceeds from derivative contracts in connection with the settlement of collateralized debt	0	0	39	0	185
Principal payments on finance lease obligations	−103	−127	−149	−135	−86
Payments related to acquisition of noncontrolling interest	0	−7	−14	0	0
Additions to deferred financing costs	−171	−20	−7	−2	—
Distributions to noncontrolling interest	−26	0	0	—	—
Other, net	−25	−9	−3	−7	−12
Net cash provided by (used in) financing activities	949	−172	−123	−336	−1,363
Net increase (decrease) in cash and cash equivalents	884	−45	−3	109	−82
Effect of exchange rate changes on cash and cash equivalents	594,000	−424,000	−697,000	291,000	−662,000
Net increase (decrease) in cash and cash equivalents	885	−46	−3	110	−83

Filings

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