Optimum Communications, Inc. · NYSE:OPTU
Optimum Communications — Altice USA — Q3 2025 Earnings Presentation
15 slides from Optimum Communications's earnings presentation, Nov 6, 2025
Slide 1: Altice USA Q3 2025 Results
Altice USA Q3 2025 Results November 6, 2025
Slide 2: Forward-Looking Statements
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: Q3 2025 Overview
Q3 2025 Overview Outlook Reiterated: ~$3.4bn of Adj. EBITDA(1) in FY 2025 Operating in a low growth and highly competitive marketplace Focused on evolving go-to-market and base management strategies to stabilize broadband trends (1) Adjusted EBITDA is a non-GAAP financial measure. For a reconciliati
Slide 4: Q3 2025 Highlights
Q3 2025 Highlights Operational Efficiency Revenue Opportunity Network Enhancements + Adj. EBITDA(1) -3.6% YoY and +3.3% + Expanding penetration of new and + Deploying mid-split upgrades on QoQ existing products including Fiber HFC to deliver multi-gig speeds and Mobile + Adj. EBITDA(1) Margin expans
Slide 5: Broadband Subscriber Trends
Broadband Subscriber Trends Broadband Net Additions Q3-25 Market Dynamics Focus on Profitable Growth (000s) + Continued consumer financial strain + Maintaining financial discipline & focusing on profitable + Heightened competitive marketing growth over low-return volume spend and subscriber acquisit
Slide 6: Deepening Penetration of New & Existing Products
Deepening Penetration of New & Existing Products Fiber Mobile New Video Tiers Fiber Customer Penetration Mobile Customer Penetration Entertainment TV, Extra TV, Everything TV of Network of Broadband Base(1) Penetration of Residential Video Base 23% 22% 7.3% 13% 20% 6.8% 10% 18% 6.3% 6% 17% 5.7% 2% 5
Slide 7: Q3 Financials
Q3 Financials Revenue ($bn) Residential ARPU(1)(2) ($) Broadband ARPU(3) ($) -5.4% -1.8% $2.23 $2.24 $2.15 $2.15 $2.11 $135.77 $133.95 $133.93 $133.68 $133.28 -$2.48 -0.4% $0.72 $0.69 $0.67 $0.66 74.92 74.64 75.31 74.77 74.65 $0.65 -9.8% $56.16 $54.54 $53.43 $53.58 $52.99 -$3.16 $0.12 $0.16 $0.10 $0
Slide 8: Q3 Financials
Q3 Financials Gross Margin % Adj. EBITDA(1) ($m) Adj. EBITDA(1) Margin % +160 bps -3.6% 69.7% $862 +70 bps 68.8% 69.1% $837 68.1% 67.7% $831 39.4% $804 38.7% $799 37.5% 37.1% 37.4% Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 (1) Adjusted EBITDA is a non-
Slide 9: Operational Efficiency Momentum
Operational Efficiency Momentum Other Operating Expense(1) Service call rate(2) Deploying new AI Tools ($m) improved ~6% Q3 YoY, to automate -2.4% and service visit rate(3) decisions, reduce improved ~20% Q3 YoY costs, and deliver $683 $681 $676 more personalized $654 customer experiences $638 Optim
Slide 10: Network Investment and Capital Expenditures
Network Investment and Capital Expenditures Cash Capital Expenditures ($m) Expanding & Enhancing Our Networks $1,914 $1,705 + Updated FY-25 Cash Capital Outlook to ~$1.3bn driven by incremental investment at Lightpath to fuel hyperscaler $1,433 builds, as well as timing of capital spend ~ $1,300 + A
Slide 11: Debt Maturity Profile
Debt Maturity Profile Altice USA Consolidated as of ($bn) September 30, 2025 $7.4 Weighted Average 6.9% $5.7 Cost of Debt (WACD)(1) $5.4 Weighted Average 3.4 $3.9 $3.8 Life of Debt (WAL) years Fixed Rate % of Debt(1) ~73% $0.1 $0.1 Liquidity(2) ~$1.2bn 2025 2026 2027 2028 2029 2030 2031 CSC Holdings
Slide 12: Q&A
Q&A AlticeAltice USA Q3USA2025 Q3 2025 Earnings Earnings 12 12 Results Results
Slide 13: Appendix
Appendix AlticeAltice USA Q3USA2025 Q3 2025 Earnings Earnings 13 13 Results Results
Slide 14: Q3 2025 Free Cash Flow Bridge
Q3 2025 Free Cash Flow Bridge Free Cash Flow ($m) Adjusted Cash Cash Cash Other operating Free Cash EBITDA(1) capex interest tax cash flows Flow(1) ($326) $831 ($523) ($35) ($126) ($178) (1) Adjusted EBITDA and Free Cash Flow are non-GAAP measures. For a reconciliation of these non-GAAP measures to
Slide 15: Summary Financial Information
Summary Financial Information ($m) Q3-24 Q3-25 Q3-25 YoY Residential $1,729 $1,623 -6.1% Business Services $366 $362 -1.2% News & Advertising $118 $106 -10.0% Other $15 $18 20.1% Total Revenue $2,228 $2,108 -5.4% Adjusted EBITDA(1) $862 $831 -3.6% Margin (%) 38.7% 39.4% Cash capital expenditures $35