Optimum Communications, Inc. · NYSE:OPTU
Optimum Communications — Altice USA — Q2 2025 Earnings Presentation
15 slides from Optimum Communications's earnings presentation, Aug 7, 2025
Slide 1: Altice USA Q2 2025 Results
Altice USA Q2 2025 Results August 7, 2025
Slide 2: Forward-Looking Statements; Non-GAAP Financial Measures
FORWARD-LOOKING STATEMENTS Certain statements in this presentation constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, all statements other than statements of historical fa
Slide 3: 2025 Priorities
2025 Priorities Revenue Operational Network Sustainable Opportunity Efficiency Enhancements Capital Structure Driving toward ~$3.4bn of Adjusted EBITDA(1) in FY 2025 (1) Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation to net income (loss), see the Q2 2025 Altice USA earnings re
Slide 4: Q2 2025 Highlights
Q2 2025 Highlights Revenue Operational Network Sustainable Opportunity Efficiency Enhancements Capital Structure + Improved broadband + Implemented workforce + Optimum Fiber awarded + First ever primarily HFC subscriber trends optimization fastest and most reliable Asset-Backed $1 Billion internet s
Slide 5: Improved Broadband Subscriber Performance
Improved Broadband Subscriber Performance Broadband Net Adds (000s) Q2 Performance Drivers +31% + Lowest Q2 Churn in 3 years improvement Supported by focus on voluntary, non-pay, and in-footprint move churn + Best Gross Add Year-Over-Year Indexing(1) in 2 years Improved sales channel performance (35
Slide 6: Deepening Penetration of New & Existing Products
Deepening Penetration of New & Existing Products New Value Added Fiber Mobile New Video Tiers Products & Services Entertainment TV, Extra TV, Total Care Fiber Customer Net Adds Mobile Line Net Adds Everything TV Net Adds (000s) (000s) • 90k Q2 ending customers (000s) • Premium support add-on 56 68 •
Slide 7: Transforming Operations to Drive Efficiency
Transforming Operations to Drive Efficiency Outlook: Moderate Other Operating Expense in FY 2026 by 4-6% vs. FY 2024 Optimized Fewer Service Deploying New “First Time Right” Workforce Programming Calls Requiring AI Tools Customer Optimization Agreements Visits Automating decisions, Experience Optimi
Slide 8: Q2 Financials
Q2 Financials Revenue ($bn) Residential ARPU(1) ($) Broadband ARPU(2) ($) -4.2% -1.7% +0.9% $2.24 $2.15 $2.15 $135.95 $133.93 $133.68 Residential $74.13 $75.31 $74.77 Video $0.74 -10.7% $0.67 $0.66 Impact from News & $0.11 $0.10 $0.12 +12.8% Video -2.8% Advertising $1.40 $1.38 $1.37 YoY or ($3.74) C
Slide 9: Enhancing Network and Increasing Efficiency
Enhancing Network and Increasing Efficiency Expanding Our Networks Enhancing Our Networks + Added +35k total passings Q2-25 and +61k H1-25 + Implemented new network monitoring tools to address multi-passing maintenance upgrades + Added +28k fiber passings Q2-25 and +62k H1-25 + Deploying mid-split u
Slide 10: First-Ever Primarily HFC Asset Backed Loan
First-Ever Primarily HFC Asset Backed Loan Asset Backed Loan Overview Transaction Details • $1bn primarily Hybrid-Fiber Asset Backed $1.0 Billion Coaxial (HFC) Asset Backed Receivables Facility Loan Receivables Facility Loan Issue Price / OID 96% completed in July 2025 Cash Coupon 8.875% Maturity Ja
Slide 11: Pro Forma Debt Maturity Profile
Pro Forma Debt Maturity Profile Altice USA Consolidated Pro ($bn) Forma as of June 30,2025(1) $7.3 Weighted Average 6.9% $5.7 Cost of Debt (WACD)(3) $5.4 Weighted Average 3.6 $3.9 $3.8 New $1bn Asset Backed Loan Life of Debt (WAL) years completed July 2025(2) Fixed Rate % of Debt(3) ~73% $0.1 $0.1 L
Slide 12: Q&A
Q&A Altice USA Q2 2025 Earnings Results Confidential 12
Slide 13: Appendix
Appendix AlticeAltice USA Q2USA2025 Q2 2025 Earnings Earnings 13 13 Results Results
Slide 14: Q2 2025 Free Cash Flow Bridge
Q2 2025 Free Cash Flow Bridge Free Cash Flow ($m) Adjusted Cash Cash Cash Other operating Free Cash EBITDA(1) capex interest tax cash flows Flow(1) ($384) $804 ($326) ($74) $8 $28 (1) Adjusted EBITDA and Free Cash Flow are non-GAAP measures. For a reconciliation of these non-GAAP measures to net inc
Slide 15: Summary Financial Information
Summary Financial Information ($m) Q2-24 Q2-25 Q2-25 YoY Residential $1,754 $1,648 -6.0% Business Services $369 $362 -2.0% News & Advertising $105 $119 12.8% Other $13 $19 48.9% Total Revenue $2,241 $2,147 -4.2% Adjusted EBITDA(1) $867 $804 -7.3% Margin (%) 38.7% 37.4% Cash capital expenditures $348