Optimum Communications, Inc. · NYSE:OPTU
Optimum Communications — Q4 2025 Earnings Presentation
15 slides from Optimum Communications's earnings presentation, Feb 12, 2026
Slide 1: Fourth Quarter and Full Year 2025 Results
Fourth Quarter and Full Year 2025 Results February 12, 2026
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: Q4 2025 Highlights
Q4 2025 Highlights Connectivity & All Other Revenue(1) +2.0% YoY, Total Revenue -2.3% YoY Broadband ARPU +2.8% YoY and Residential ARPU +0.4% YoY Adj. EBITDA(2) of $902m +7.7% YoY Adj. EBITDA(2) Margin of ~41%, Gross Margin of ~70%, Free Cash Flow(2) of +$199m Capital Intensity of ~13% and grew tota
Slide 4: Full Year 2025 Outlook Achieved
Full Year 2025 Outlook Achieved Full Year 2025 Full Year 2025 Outlook Achieved Full Year 2025 Highlights Revenue ~$8.6bn $8.6bn Transformation continues Broadband ARPU Slight growth +1.6% YoY to progress Programming & Direct Costs ~$2.6bn $2.6bn Other Operating Financial & operational Expenses(1) ~$
Slide 5: 2026 Key Priorities
2026 Key Priorities Simplification to Drive Acceleration Improve Maintain Invest for Long Broadband Trends Financial Discipline Term Value Creation + Simplify products + Base management + Fiber expansion + Simplify pricing + Product margin expansion + Network upgrades + Improve convergence and + Ope
Slide 6: Q4 Subscriber Trends
Q4 Subscriber Trends Broadband Subscribers Fiber Customers Net Adds (000s) Ending (m) Net Adds (000s) Ending (000s) -4.4% +33.0% 69 4.3 57 56 4.2 716 40 538 (39) (37) (35) 12 (58) (62) Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q4-24 Q4-25 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q4-24 Q4-25 Mobile Lines Video Subscribers
Slide 7: Q4 Financials
Q4 Financials Revenue ($bn) Residential ARPU(2) ($) Broadband ARPU(4) ($) -2.3% +2.8% +0.4% $2.24 $2.18 $76.71 $2.15 $2.15 $2.11 $133.95 $133.93 $133.68 $133.28 $134.49 $74.64 $75.31 $74.77 $74.65 $0.69 $0.62 $0.67 $0.66 $0.65 $54.54 $53.43 $53.58 $52.99 $51.67 $0.16 $0.10 $0.14 $0.12 $0.11 $1.39 $1
Slide 8: Q4 Financials
Q4 Financials Gross Margin % Adj. EBITDA(1) ($m) Adj. EBITDA(1) Margin % +180 bps +7.7% +380 bps 69.7% 69.5% $902 41.3% 68.8% 69.1% 39.4% $837 $831 67.7% $799 $804 37.5% 37.1% 37.4% Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 (1) Adjusted EBITDA is a non
Slide 9: Capital Expenditures and Network Investment
Capital Expenditures and Network Investment Cash Capital Expenditures ($m) Capital Intensity %(1) Optimum Footprint as of Q4-25 $1,914 $1,705 10.0m +177k 19.8% Total Total passings $1,433 $1,347 passings added in 2025 18.5% 19.2% $1,778 3.1m +134k $1,491 16.9% 16.0% $1,266 $1,145 15.7% Fiber Fiber p
Slide 10: Lightpath Fiber
Lightpath Fiber + Delivering AI-grade digital infrastructure Annual Revenue(1) ($m) & connectivity +13% $468 + $362 million AI-driven total contract value $414 $385 $392 (TCV) awarded with hyperscaler, $384 superscaler and neocloud strategic partners.at the end of 2025: + $252 million TCV awarded in
Slide 11: Pro Forma Debt Maturity Profile
Pro Forma Debt Maturity Profile Optimum Communications Pro Forma(1) ($bn) Consolidated as of December 31, 2025 Weighted Average $6.2 $6.2 6.8% Cost of Debt (WACD) $5.7 $4.7 Weighted Average 3.3 $3.8 Life of Debt (WAL) years Fixed Rate % of Debt 81% $0.0 Liquidity(2) ~$1.4bn 2026 2027 2028 2029 2030
Slide 12: Q&A
Q&A 12 12
Slide 13: Appendix
Appendix 13 13
Slide 14: Q4 2025 Free Cash Flow Bridge
Q4 2025 Free Cash Flow Bridge Free Cash Flow ($m) Adjusted Cash Cash Cash Other operating Free Cash EBITDA(1) capex interest tax cash flows Flow(1) ($282) $902 ($386) ($52) $17 $199 (1) Adjusted EBITDA and Free Cash Flow are non-GAAP measures. For a reconciliation of these non-GAAP measures to net i
Slide 15: Summary Financial Information
Summary Financial Information ($m) Q4-24 Q4-25 Q4-25 YoY FY-24 FY-25 FY-25 YoY Residential $1,686 $1,612 -4.4% $6,937 $6,551 -5.6% Business Services $371 $402 8.2% $1,472 $1,489 1.2% News & Advertising $157 $145 -8.1% $486 $472 -3.0% Other $20 $24 18.1% $59 $78 31.9% Total Revenue $2,235 $2,183 -2.3
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