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NEW YORK--(BUSINESS WIRE)--Optimum Communications, Inc. (NYSE: OPTU) today reports results for the second quarter ended June 30, 2026.
Dennis Mathew, Optimum Chairman and Chief Executive Officer, said: "Our second quarter results reflect disciplined execution across every part of our business. We expanded gross margin and Adjusted EBITDA margin, drove sequential improvement in broadband trends, delivered our best second-quarter mobile line growth to date, grew convergence ARPU year over year, and continued to expand our footprint, all while reducing operating expenses and simplifying how we operate. We are sharpening our go-to-market approach, deepening customer relationships through convergence, and transforming the customer experience to support stronger broadband performance over time. At the same time, we continue to take deliberate steps to strengthen our financial foundation, which remains a top priority as we position the business for long-term success. We remain focused on executing every day, investing where we see the strongest returns, and delivering best-in-class connectivity to the communities we serve."
Second Quarter 2026 Overview
Second Quarter 2026 Key Operational Highlights
Balance Sheet Review as of June 30, 2026
Shares Outstanding
Private Placement of Preferred Units
Private Exchange Transaction
Cash Tender Offer
Customer Metrics (in thousands, except per customer amounts) |
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| Q1-25 | Q2-25 | Q3-25 | Q4-25 | FY-25 | Q1-26(9) | Q2-26 |
Total Passings(10) | 9,856.1 | 9,891.5 | 9,942.9 | 10,008.2 | 10,008.2 | 10,045.9 | 10,114.1 |
Total Passings additions | 25.2 | 35.4 | 51.4 | 65.2 | 177.3 | 37.8 | 68.2 |
Total Customer Relationships(11)(12) |
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Residential | 4,130.5 | 4,088.0 | 4,028.6 | 3,963.8 | 3,963.8 | 3,897.0 | 3,855.6 |
SMB | 375.3 | 374.3 | 371.9 | 369.9 | 369.9 | 367.1 | 362.5 |
Total Unique Customer Relationships | 4,505.9 | 4,462.2 | 4,400.5 | 4,333.6 | 4,333.6 | 4,264.1 | 4,218.0 |
Residential net additions (losses) | (43.2) | (42.5) | (59.3) | (64.9) | (209.9) | (66.8) | (41.4) |
Business Services net additions (losses) | (1.3) | (1.1) | (2.4) | (2.0) | (6.7) | (2.8) | (4.7) |
Total customer net additions (losses) | (44.4) | (43.6) | (61.7) | (66.9) | (216.6) | (69.5) | (46.1) |
Residential PSUs |
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Broadband | 3,963.3 | 3,928.3 | 3,872.2 | 3,811.4 | 3,811.4 | 3,749.6 | 3,714.3 |
Video | 1,792.4 | 1,736.3 | 1,674.9 | 1,628.4 | 1,628.4 | 1,570.7 | 1,526.6 |
Telephony | 1,200.0 | 1,147.8 | 1,093.1 | 1,041.6 | 1,041.6 | 994.9 | 951.3 |
Broadband net additions (losses) | (36.6) | (35.0) | (56.2) | (60.7) | (188.4) | (61.9) | (35.3) |
Video net additions (losses) | (87.7) | (56.1) | (61.4) | (46.5) | (251.7) | (57.7) | (44.1) |
Telephony net additions (losses) | (69.2) | (52.2) | (54.7) | (51.5) | (227.7) | (46.7) | (43.5) |
Residential ARPU(1) ($) | 133.93 | 133.68 | 133.28 | 134.49 | 134.18 | 132.32 | 132.22 |
Convergence ARPU(2) ($) | 78.38 | 77.95 | 78.26 | 80.87 | 79.09 | 79.32 | 79.80 |
SMB PSUs |
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Broadband | 345.7 | 345.6 | 343.6 | 342.0 | 342.0 | 339.7 | 335.4 |
Video | 78.7 | 76.6 | 74.6 | 72.6 | 72.6 | 70.4 | 68.7 |
Telephony | 191.9 | 188.9 | 185.6 | 182.5 | 182.5 | 179.2 | 175.0 |
Broadband net additions (losses) | (0.4) | (0.1) | (2.1) | (1.5) | (4.1) | (2.3) | (4.3) |
Video net additions (losses) | (2.4) | (2.0) | (2.0) | (2.0) | (8.5) | (2.1) | (1.8) |
Telephony net additions (losses) | (2.6) | (3.0) | (3.3) | (3.1) | (12.0) | (3.3) | (4.2) |
Total Mobile Lines(13) |
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Mobile ending lines | 508.6 | 546.4 | 584.4 | 622.5 | 622.5 | 674.1 | 724.0 |
Mobile line net additions | 49.0 | 37.8 | 38.0 | 38.1 | 162.9 | 51.6 | 49.9 |
Fiber (FTTH) Customer Metrics (in thousands) |
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| Q1-25 | Q2-25 | Q3-25 | Q4-25 | FY-25 | Q1-26 | Q2-26 |
FTTH Total Passings(14) | 2,995.0 | 3,023.4 | 3,053.0 | 3,096.0 | 3,096.0 | 3,121.6 | 3,155.8 |
FTTH Total Passing additions | 33.2 | 28.5 | 29.6 | 43.0 | 134.2 | 25.6 | 34.1 |
FTTH Residential customer relationships | 590.2 | 644.6 | 683.6 | 694.8 | 694.8 | 706.7 | 725.2 |
FTTH SMB customer relationships | 16.5 | 18.5 | 19.8 | 21.2 | 21.2 | 22.4 | 23.7 |
FTTH Total Customer Relationships(15) | 606.7 | 663.0 | 703.5 | 715.9 | 715.9 | 729.1 | 748.9 |
FTTH Residential net additions | 66.7 | 54.4 | 39.0 | 11.1 | 171.3 | 12.0 | 18.5 |
FTTH SMB net additions | 1.8 | 1.9 | 1.4 | 1.3 | 6.4 | 1.2 | 1.3 |
FTTH Total Customer Net Additions | 68.5 | 56.3 | 40.4 | 12.5 | 177.8 | 13.2 | 19.8 |
Optimum Communications, Inc. Consolidated Operating Results | |||||||||||||||
($ and shares in thousands, except per share data) | |||||||||||||||
(unaudited) | |||||||||||||||
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| Three Months Ended June 30, |
| Six Months Ended June 30, | ||||||||||||
| 2026 |
| 2025 |
| 2026 |
| 2025 | ||||||||
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Revenue: |
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Broadband | $ | 840,919 |
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| $ | 885,139 |
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| $ | 1,690,958 |
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| $ | 1,784,700 |
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Video |
| 587,830 |
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| 660,540 |
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| 1,190,053 |
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| 1,326,108 |
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Telephony |
| 56,296 |
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| 64,633 |
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| 114,702 |
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| 131,045 |
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Mobile |
| 52,553 |
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| 37,621 |
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| 102,102 |
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| 74,320 |
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Residential revenue |
| 1,537,598 |
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| 1,647,933 |
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| 3,097,815 |
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| 3,316,173 |
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Business services and wholesale |
| 366,286 |
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| 361,788 |
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| 730,586 |
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| 725,333 |
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News and Advertising |
| 99,978 |
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| 118,771 |
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| 219,652 |
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| 221,181 |
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Other |
| 19,841 |
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| 18,711 |
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| 41,018 |
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| 36,798 |
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Total revenue |
| 2,023,703 |
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| 2,147,203 |
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| 4,089,071 |
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| 4,299,485 |
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Operating expenses: |
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Programming and other direct costs |
| 587,654 |
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| 662,690 |
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| 1,218,783 |
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| 1,333,221 |
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Other operating expenses |
| 655,956 |
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| 696,867 |
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| 1,316,159 |
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| 1,395,053 |
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Restructuring, impairments and other operating items |
| 206,968 |
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| 66,826 |
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| 2,934,597 |
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| 88,448 |
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Depreciation and amortization |
| 407,076 |
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| 409,697 |
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| 813,572 |
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| 828,182 |
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Operating income (loss) |
| 166,049 |
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| 311,123 |
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| (2,194,040 | ) |
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| 654,581 |
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Other income (expense): |
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Interest expense, net |
| (475,576 | ) |
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| (444,659 | ) |
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| (933,395 | ) |
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| (872,675 | ) |
Gain (loss) on investments and sale of affiliate interests |
| (10,958 | ) |
|
| — |
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| (10,958 | ) |
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| 5 |
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Gain (loss) on interest rate swap contracts, net |
| — |
|
|
| 430 |
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|
| 2,398 |
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|
| (1,289 | ) |
Loss on extinguishment of debt and write-off of deferred financing costs |
| — |
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|
| (1,693 | ) |
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| (106,045 | ) |
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| (1,693 | ) |
Other expense, net |
| (315 | ) |
|
| (834 | ) |
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| (844 | ) |
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| (1,797 | ) |
Loss before income taxes |
| (320,800 | ) |
|
| (135,633 | ) |
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| (3,242,884 | ) |
|
| (222,868 | ) |
Income tax benefit |
| 38,671 |
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| 47,647 |
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| 83,779 |
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| 63,611 |
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Net loss |
| (282,129 | ) |
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| (87,986 | ) |
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| (3,159,105 | ) |
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| (159,257 | ) |
Net income attributable to noncontrolling interests |
| (9,632 | ) |
|
| (8,265 | ) |
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| (16,727 | ) |
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| (12,670 | ) |
Net loss attributable to Optimum Communications, Inc. stockholders | $ | (291,761 | ) |
| $ | (96,251 | ) |
| $ | (3,175,832 | ) |
| $ | (171,927 | ) |
Net loss per share: |
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Basic and diluted net loss per share attributable to Optimum Communications, Inc. stockholders | $ | (0.67 | ) |
| $ | (0.21 | ) |
| $ | (6.93 | ) |
| $ | (0.37 | ) |
Basic and diluted weighted average common shares (in thousands) |
| 445,703 |
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| 467,744 |
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| 458,988 |
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| 466,311 |
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Optimum Communications, Inc. Consolidated Statements of Cash Flows | |||||||
($ in thousands) | |||||||
(unaudited) | |||||||
| Six Months Ended June 30, | ||||||
| 2026 |
| 2025 | ||||
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Cash flows from operating activities: |
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Net loss | $ | (3,159,105 | ) |
| $ | (159,257 | ) |
Adjustments to reconcile net loss to net cash provided by operating activities: |
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Depreciation and amortization |
| 813,572 |
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| 828,182 |
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Indefinite-lived cable franchise rights impairment |
| 2,700,000 |
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|
| — |
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Loss (gain) on investments, sale of assets or sale of affiliate interests |
| 10,958 |
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| (5 | ) |
Loss on extinguishment of debt and write-off of deferred financing costs |
| 106,045 |
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| 1,693 |
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Amortization of deferred financing costs and discounts (premiums) on indebtedness |
| 32,406 |
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| 8,138 |
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Share-based compensation expense |
| 20,616 |
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| 31,615 |
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Deferred income taxes |
| (200,891 | ) |
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| (260,615 | ) |
Decrease in right-of-use assets |
| 21,802 |
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| 22,401 |
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Non-cash exchange of shares for redeemable preferred units |
| 156,555 |
|
|
| — |
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Allowance for credit losses |
| 39,616 |
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| 30,589 |
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Other |
| 3,156 |
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| 1,253 |
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Change in operating assets and liabilities, net of effects of acquisitions and dispositions: |
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Accounts receivable, trade |
| (31,839 | ) |
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| 2,590 |
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Prepaid expenses and other assets |
| (117,538 | ) |
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| (62,685 | ) |
Amounts due from and due to affiliates |
| (20,139 | ) |
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| 15,072 |
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Accounts payable and accrued liabilities |
| (58,699 | ) |
|
| 114,732 |
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Interest payable |
| 24,730 |
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| (3,242 | ) |
Deferred revenue |
| 56,232 |
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| 23,425 |
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Interest rate swap contracts |
| 932 |
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| 5,562 |
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Net cash provided by operating activities |
| 398,409 |
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| 599,448 |
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Cash flows from investing activities: |
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Capital expenditures |
| (627,729 | ) |
|
| (739,643 | ) |
Payments for acquisitions, net of cash acquired |
| — |
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|
| (7,616 | ) |
Proceeds related to sale of equipment, net of costs of disposal |
| 12,138 |
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|
| 2,337 |
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Other, net |
| (7,260 | ) |
|
| (633 | ) |
Net cash used in investing activities |
| (622,851 | ) |
|
| (745,555 | ) |
Cash flows from financing activities: |
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Proceeds from long-term debt |
| 2,856,954 |
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|
| 675,000 |
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Repayment of debt |
| (2,544,621 | ) |
|
| (404,839 | ) |
Principal payments on finance lease obligations |
| (12,636 | ) |
|
| (92,579 | ) |
Additions to deferred financing costs |
| (128,130 | ) |
|
| — |
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Proceeds from issuance of redeemable preferred units, net |
| 289,197 |
|
|
| — |
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Distributions to noncontrolling interests |
| — |
|
|
| (26,452 | ) |
Other, net |
| (13,268 | ) |
|
| (15,148 | ) |
Net cash provided by financing activities |
| 447,496 |
|
|
| 135,982 |
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Net increase (decrease) in cash and cash equivalents |
| 223,054 |
|
|
| (10,125 | ) |
Effect of exchange rate changes on cash and cash equivalents |
| 2 |
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|
| 884 |
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Net increase (decrease) in cash, cash equivalents and restricted cash |
| 223,056 |
|
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| (9,241 | ) |
Cash, cash equivalents and restricted cash at beginning of year |
| 1,141,443 |
|
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| 256,824 |
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Cash, cash equivalents and restricted cash at end of year | $ | 1,364,499 |
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| $ | 247,583 |
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Reconciliation of Non-GAAP Financial Measures
We define Adjusted EBITDA, which is a non-GAAP financial measure, as net income (loss) excluding income taxes, non-operating income or expenses, gain (loss) on extinguishment of debt and write-off of deferred financing costs, gain (loss) on interest rate swap contracts, gain (loss) on derivative contracts, gain (loss) on investments and sale of affiliate interests, interest expense, net, depreciation and amortization, share-based compensation, restructuring, impairments and other operating items (such as significant legal settlements and contractual payments for terminated employees). We define Adjusted EBITDA margin as Adjusted EBITDA divided by total revenue.
Adjusted EBITDA eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of our business and from intangible assets recognized from acquisitions, as well as certain non-cash and other operating items that affect the period-to-period comparability of our operating performance. In addition, Adjusted EBITDA is unaffected by our capital and tax structures and by our investment activities.
We believe Adjusted EBITDA is an appropriate measure for evaluating our operating performance. Adjusted EBITDA and similar measures with similar titles are common performance measures used by investors, analysts and peers to compare performance in our industry. Internally, we use revenue and Adjusted EBITDA measures as important indicators of our business performance and evaluate management’s effectiveness with specific reference to these indicators. We believe Adjusted EBITDA provides management and investors a useful measure for period-to-period comparisons of our core business and operating results by excluding items that are not comparable across reporting periods or that do not otherwise relate to our ongoing operating results. Adjusted EBITDA should be viewed as a supplement to and not a substitute for operating income (loss), net income (loss), and other measures of performance presented in accordance with U.S. generally accepted accounting principles (“GAAP”). Since Adjusted EBITDA is not a measure of performance calculated in accordance with GAAP, this measure may not be comparable to similar measures with similar titles used by other companies.
We also use Free Cash Flow (defined as net cash flows from operating activities less cash capital expenditures) as a liquidity measure. We believe this measure is useful to investors in evaluating our ability to service our debt and make continuing investments with internally generated funds, although it may not be directly comparable to similar measures reported by other companies.
Reconciliation of Net Loss to Adjusted EBITDA | |||||||||||||||
($ in thousands) | |||||||||||||||
(unaudited) | |||||||||||||||
| Three Months Ended June 30, |
| Six Months Ended June 30, | ||||||||||||
| 2026 |
| 2025 |
| 2026 |
| 2025 | ||||||||
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Net loss | $ | (282,129 | ) |
| $ | (87,986 | ) |
| $ | (3,159,105 | ) |
| $ | (159,257 | ) |
Income tax benefit |
| (38,671 | ) |
|
| (47,647 | ) |
|
| (83,779 | ) |
|
| (63,611 | ) |
Other expense, net |
| 315 |
|
|
| 834 |
|
|
| 844 |
|
|
| 1,797 |
|
Loss (gain) on interest rate swap contracts, net |
| — |
|
|
| (430 | ) |
|
| (2,398 | ) |
|
| 1,289 |
|
Loss (gain) on investments and sale of affiliate interests |
| 10,958 |
|
|
| — |
|
|
| 10,958 |
|
|
| (5 | ) |
Loss on extinguishment of debt and write-off of deferred financing costs |
| — |
|
|
| 1,693 |
|
|
| 106,045 |
|
|
| 1,693 |
|
Interest expense, net |
| 475,576 |
|
|
| 444,659 |
|
|
| 933,395 |
|
|
| 872,675 |
|
Depreciation and amortization |
| 407,076 |
|
|
| 409,697 |
|
|
| 813,572 |
|
|
| 828,182 |
|
Restructuring, impairments and other operating items |
| 206,968 |
|
|
| 66,826 |
|
|
| 2,934,597 |
|
|
| 88,448 |
|
Share-based compensation |
| 5,639 |
|
|
| 16,166 |
|
|
| 20,616 |
|
|
| 31,615 |
|
Adjusted EBITDA | $ | 785,732 |
|
| $ | 803,812 |
|
| $ | 1,574,745 |
|
| $ | 1,602,826 |
|
Adjusted EBITDA margin |
| 38.8 | % |
|
| 37.4 | % |
|
| 38.5 | % |
|
| 37.3 | % |
Reconciliation of net cash flow from operating activities to Free Cash Flow (Deficit) | ||||||||||||||
(in thousands) | ||||||||||||||
(unaudited) | ||||||||||||||
| Three Months Ended June 30, |
| Six Months Ended June 30, | |||||||||||
| 2026 |
| 2025 |
| 2026 |
| 2025 | |||||||
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Net cash flows from operating activities | $ | 228,126 |
|
| $ | 411,965 |
| $ | 398,409 |
|
| $ | 599,448 |
|
Less: Capital expenditures (cash) |
| 320,025 |
|
|
| 383,519 |
|
| 627,729 |
|
|
| 739,643 |
|
Free Cash Flow (Deficit) | $ | (91,899 | ) |
| $ | 28,446 |
| $ | (229,320 | ) |
| $ | (140,195 | ) |
Consolidated Net Debt as of June 30, 2026 | |||||
($ in millions) | |||||
CSC Holdings, LLC Restricted Group | Principal Amount |
| Coupon / Margin |
| Maturity |
Drawn RCF | $2,225 |
| SOFR+2.350% |
| 2027 |
Term Loan B-5 | 2,813 |
| ABR(16) |
| 2027 |
Guaranteed Notes | 1,310 |
| 5.500% |
| 2027 |
Guaranteed Notes | 1,000 |
| 5.375% |
| 2028 |
Guaranteed Notes | 1,000 |
| 11.250% |
| 2028 |
Guaranteed Notes | 2,050 |
| 11.750% |
| 2029 |
Guaranteed Notes | 1,750 |
| 6.500% |
| 2029 |
Guaranteed Notes | 1,100 |
| 4.125% |
| 2030 |
Guaranteed Notes | 1,000 |
| 3.375% |
| 2031 |
Guaranteed Notes | 1,500 |
| 4.500% |
| 2031 |
Senior Notes | 1,046 |
| 7.500% |
| 2028 |
Legacy unexchanged Cequel Notes | 4 |
| 7.500% |
| 2028 |
Senior Notes | 2,250 |
| 5.750% |
| 2030 |
Senior Notes | 2,325 |
| 4.625% |
| 2030 |
Senior Notes | 500 |
| 5.000% |
| 2031 |
CSC Holdings, LLC Restricted Group Gross Debt | 21,873 |
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CSC Holdings, LLC Restricted Group Cash | (98) |
|
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CSC Holdings, LLC Restricted Group Net Debt | $21,775 |
|
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CSC Holdings, LLC Restricted Group Undrawn RCF | $75.2 |
|
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UnSub Group Credit Agreement | Principal Amount |
| Coupon / Margin |
| Maturity |
Term Loan B-8 | $3,100 |
| 9.000% |
| 2028 |
UnSub Group cash | (783) |
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UnSub Net Debt | $2,317 |
|
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Lightpath Consolidated | Principal Amount |
| Coupon / Margin |
| Maturity |
Secured Fiber Network Revenue Note | $1,527 |
| 5.597% |
| 2031 |
Secured Fiber Network Revenue Note | 130 |
| 5.890% |
| 2031 |
Lightpath Consolidated Gross Debt | 1,657 |
|
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Lightpath Consolidated Cash | (87) |
|
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Lightpath Consolidated Net Debt | $1,570 |
|
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Lightpath Consolidated amount undrawn under Variable Funding Notes, subject to covenant limitations | $93.7 |
|
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Net Leverage Schedule as of June 30, 2026 | |||||||
($ in millions) | |||||||
| CSC Holdings Restricted Group(17) |
| Lightpath Consolidated(18) |
| UnSub Group |
| Optimum Communications Consolidated |
|
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|
Gross Debt Consolidated(19) | $21,873 |
| $1,657 |
| $3,100 |
| $26,630 |
Cash | (98) |
| (87) |
| (783) |
| (1,296) |
Net Debt Consolidated(7) | $21,775 |
| $1,570 |
| $2,317 |
| $25,333 |
LTM EBITDA | $999 |
| $303 |
| $1,996 |
| $3,308 |
L2QA EBITDA | $955 |
| $284 |
| $1,902 |
| $3,149 |
Net Leverage (LTM) | 21.8x |
| 5.2x |
| 1.2x |
| 7.7x |
Net Leverage (L2QA)(8) | 22.8x |
| 5.5x |
| 1.2x |
| 8.0x |
WACD(%) | 6.6% |
| 5.6% |
| 9.0% |
| 6.8% |
| Reconciliation to Financial Reported Debt | |
| Optimum Communications Consolidated |
Total Debenture and Loans from Financial Institutions (Carrying Amount) | $26,439 |
Unamortized financing costs and discounts, net of unamortized premiums | 191 |
Gross Debt Consolidated(19) | 26,630 |
Finance leases | 112 |
Total Debt | 26,742 |
Cash | (1,296) |
Net Debt Including Finance Leases | $25,446 |
(1) | Residential ARPU is calculated by dividing the average monthly revenue for the respective period derived from the sale of broadband, video, telephony and mobile services to residential customers by the average number of total residential customers for the same period and excludes mobile-only customer relationships. |
(2) | Convergence ARPU is calculated by dividing the average monthly revenue for the respective period derived from the sale of broadband and mobile services to residential customers by the average number of total residential broadband customers for the same period and excludes mobile-only customer relationships. |
(3) | See “Reconciliation of Non-GAAP Financial Measures” beginning on page 7 of this earnings release. |
(4) | Capital intensity refers to total cash capital expenditures as a percentage of total revenue. |
(5) | Total mobile penetration of broadband base is expressed as the percentage of customers subscribing to both broadband and mobile services divided by the total broadband customer base. Excludes mobile only customers. As of Q2-26, this metric in the current period and historical periods has been restated to align with total broadband counts versus previously disclosed residential only. |
(6) | Residential video ARPU is calculated by dividing the average monthly residential video revenue for the respective period by the average number of total residential video customers for the same period. |
(7) | Net debt, defined as the principal amount of debt less cash, and excluding finance leases and other notes. |
(8) | L2QA leverage is calculated as quarter end net debt consolidated divided by the last two quarters of Adjusted EBITDA annualized. |
(9) | Broadband subscriber net adds and video subscriber net adds in Q1-26 include subscriber adjustments taken in the quarter related to prior periods. Excluding these adjustments total residential and SMB broadband subscriber net losses would have been 56k and total residential and SMB video subscriber net losses would have been 50k. |
(10) | Total passings represents the estimated number of single residence homes, apartments and condominium units passed by the hybrid-fiber-coaxial (HFC) and fiber-to-the-home (FTTH) network in areas serviceable without further extending the transmission lines. In addition, it includes commercial establishments that have connected to our HFC and FTTH network. |
(11) | Total Unique Customer Relationships represent the number of households/businesses that receive at least one of our fixed-line services. Customers represent each customer account (set up and segregated by customer name and address), weighted equally and counted as one customer, regardless of size, revenue generated, or number of boxes, units, or outlets on our HFC and FTTH network. Free accounts are included in the customer counts along with all active accounts, but they are limited to a prescribed group. Most of these accounts are also not entirely free, as they typically generate revenue through pay-per-view or other pay services and certain equipment fees. Free status is not granted to regular customers as a promotion. In counting bulk residential customers, such as an apartment building, we count each subscribing unit within the building as one customer, but do not count the master account for the entire building as a customer. We count a bulk commercial customer, such as a hotel, as one customer, and do not count individual room units at that hotel. |
(12) | Total Customer Relationship metrics do not include mobile-only customers. |
(13) | Mobile lines represent the number of residential and business customers’ wireless connections, which include mobile phone handsets and other mobile wireless connected devices. An individual customer relationship may have multiple mobile lines. The FY 2025, Q1 2026, and Q2 2026 ending lines include approximately 17.6 thousand, 20.9 thousand and 25.5 thousand lines related to business customers, respectively. The service revenue related to these business customers is reflected in "Business services and wholesale" in the table above. |
(14) | Represents the estimated number of single residence homes, apartments and condominium units passed by the FTTH network in areas serviceable without further extending the transmission lines. In addition, it includes commercial establishments that have connected to our FTTH network. |
(15) | Represents number of households/businesses that receive at least one of our fixed-line services on our FTTH network. FTTH customers represent each customer account (set up and segregated by customer name and address), weighted equally and counted as one customer, regardless of size, revenue generated, or number of boxes, units, or outlets on our FTTH network. Free accounts are included in the customer counts along with all active accounts, but they are limited to a prescribed group. Most of these accounts are also not entirely free, as they typically generate revenue through pay-per view or other pay services and certain equipment fees. Free status is not granted to regular customers as a promotion. In counting bulk residential customers, such as an apartment building, we count each subscribing unit within the building as one customer, but do not count the master account for the entire building as a customer. We count a bulk commercial customer, such as a hotel, as one customer, and do not count individual room units at that hotel. |
(16) | The interest on the Incremental Term Loan B-5 at a rate equal to the alternate base rate (“ABR”), plus the applicable margin, where the ABR is the greater of (x) prime rate or (y) the federal funds effective rate plus 50 basis points, and the applicable margin for any ABR loan is 1.50% per annum. |
(17) | CSC Holdings, LLC Restricted Group excludes the unrestricted subsidiaries, primarily Lightpath Fiber Issuer LLC, Cablevision Funding LLC, Cablevision Litchfield, LLC and CSC Optimum Holdings, LLC, and certain subsidiaries of CSC Holdings designated as “unrestricted subsidiaries” for the purposes of the CSC Holdings silo on November 25, 2025. |
(18) | Amounts represent Lightpath Consolidated, which primarily consists of Lightpath Fiber Issuer LLC, as well as certain network assets between New York City and Ashburn, Virginia. |
(19) | Principal amount of debt excluding finance leases and other notes. |
Investor Relations
John Hsu: +1 917 405 2097 / john.hsu@optimum.com
Sarah Freedman: +1 631 660 8714 / sarah.freedman@optimum.com
Media Relations
Lisa Anselmo: +1 516 279 9461 / lisa.anselmo@optimum.com
Janet Meahan: +1 516 519 2353 / janet.meahan@optimum.com
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