{"success":true,"data":{"pressRelease":{"id":"110961","rtpr_id":"nBw8RNy0Fa","ticker":"OPTU","exchange":"NYSE","all_tickers":["OPTU"],"title":"Optimum Reports Second Quarter 2026 Results","author":"Business Wire","published_at":"2026-08-06T11:00:00.504Z","article_body":"Optimum Reports Second Quarter 2026 Results\n\nOptimum Communications, Inc. (NYSE: OPTU) today reports results for the second\nquarter ended June 30, 2026.\n\nDennis Mathew, Optimum Chairman and Chief Executive Officer, said: \"Our second\nquarter results reflect disciplined execution across every part of our\nbusiness. We expanded gross margin and Adjusted EBITDA margin, drove\nsequential improvement in broadband trends, delivered our best second-quarter\nmobile line growth to date, grew convergence ARPU year over year, and\ncontinued to expand our footprint, all while reducing operating expenses and\nsimplifying how we operate. We are sharpening our go-to-market approach,\ndeepening customer relationships through convergence, and transforming the\ncustomer experience to support stronger broadband performance over time. At\nthe same time, we continue to take deliberate steps to strengthen our\nfinancial foundation, which remains a top priority as we position the business\nfor long-term success. We remain focused on executing every day, investing\nwhere we see the strongest returns, and delivering best-in-class connectivity\nto the communities we serve.\"\n\nSecond Quarter 2026 Overview\n\n\n * Total revenue of $2.02 billion in Q2 2026 (-5.8% year over year)\n\n * Residential revenue of $1.54 billion in Q2 2026 (-6.7% year over year)\n\n\n* Residential average revenue per user (ARPU)((1)) of $132.22 (-1.1% year over\nyear)\n\n * Convergence ARPU((2)) of $79.80 (+2.4% year over year)\n\n\n\n\n * Net loss attributable to stockholders of ($291.8) million (($0.67)/share on a\ndiluted basis) in Q2 2026, compared to ($96.3) million (($0.21)/share on a\ndiluted basis) in Q2 2025. Net loss margin attributable to stockholders of\n-14.4% in Q2 2026\n\n * Net cash flows from operating activities of $228.1 million (-44.6% year over\nyear) in Q2 2026\n\n * Adjusted EBITDA((3)) of $785.7 million (-2.2% year over year), margin of 38.8%\nin Q2 2026\n\n * Cash capital expenditures of $320.0 million (-16.6% year over year), capital\nintensity((4)) of 15.8% in Q2 2026\n\n * Free Cash Flow (deficit)((3)) of ($91.9) million in Q2 2026 compared to $28.4\nmillion in Q2 2025\n\nSecond Quarter 2026 Key Operational Highlights\n\n\n * Driving Operational Improvements and Margin Expansion\n\n\n* Year-to-date Q2 2026 Operating Expense (excluding share-based compensation)\nimproved by -5%, supported by lower truck rolls and call volumes, lower sales\nacquisition costs, and workforce optimization\n\n * Gross margin of 71.0% in Q2 2026 expanded by 180 basis points year over year\n\n * Adjusted EBITDA margin((3) )of 38.8% in Q2 2026 expanded by 140 basis points\nyear over year, reflecting cost discipline\n\n * Continued simplifying the end-to-end customer journey through improved\ncustomer communications, digital capabilities, and operational enhancements\n\n\n\n\n * Strengthening Broadband Strategy Amid Competitive Market; Net Losses of 40k\n\n\n* Total broadband primary service units (PSUs) net losses of -40k( )in Q2\n2026,\nwhich benefited from a bulk agreement, compared to -35k in Q2 2025, ending\ntotal broadband subscribers of 4.0 million\n\n * Sharpening go-to-market execution through simpler offers and pricing and\npackaging enhancements, supporting gross add performance\n\n * Enhancing customer retention through data-driven base management and proactive\ncustomer engagement\n\n * Continued higher-speed tier adoption, with 53% of the residential broadband\ncustomer base taking 1 Gig or higher speeds at the end of Q2 2026, up from 38%\nin Q2 2025\n\n\n\n\n * Growing Through Mobile; Best Second Quarter Mobile Line Net Add Performance,\nwith +50k Line Net Additions in Q2 2026\n\n\n* Mobile line net additions of +50k in Q2 2026, representing the strongest\nsecond quarter performance, bringing total mobile lines to 724k\n\n * Residential mobile service revenue grew 40% year over year to $53 million in\nQ2 2026, compared to $38 million in Q2 2025\n\n * Total mobile penetration of the broadband base((5)) reached 8.9% at the end of\nQ2 2026, compared to 6.9% in Q2 2025\n\n\n\n\n * Improving Video Margin and Customer Retention with New Tiered Offerings\n\n\n* Newer tiered video packages, Entertainment TV, Extra TV, and Everything TV\nreached 18% penetration of the residential video base at the end of Q2 2026,\nup from 10% in Q2 2025\n\n * Continued migration from legacy video packages to new tiered offerings\nimproves retention and strengthens video margin profile\n\n * Video gross margin in Q2 2026 expanded by approximately 1,000 basis points in\nthe last three years compared to Q2 2023\n\n * Residential video ARPU((6)) grew +1.4% year over year, partially offsetting\nvideo volume declines in revenue\n\n\n\n\n * Expanding and Enhancing Our Networks\n\n\n* Added +68k total new passings in Q2 2026 and +223k total new passings in the\nlast twelve months (LTM)\n\n * At the end of Q2 2026, approximately 97% of the total footprint had 1 Gig or\nhigher speeds available\n\n * Demand for Lightpath's AI-grade infrastructure continues to be strong;\nLightpath recently announced new fiber builds to support two hyperscale data\ncenter campuses, as well as a second infrastructure tenant on its Eastern\nPennsylvania AI-grade fiber infrastructure build\n\n\n\n\nBalance Sheet Review as of June 30, 2026\n\n\n * Consolidated net debt((7)) for Optimum Communications was $25,333 million,\nrepresenting consolidated net leverage of 8.0x L2QA((8))\n\n\n* The weighted average cost of debt for consolidated Optimum Communications\nwas\n6.8% and the weighted average life of debt was 2.8 years\n\n\n\n\n * Net debt((7)) for CSC Holdings, LLC Restricted Group was $21,775 million,\nrepresenting net leverage of 22.8x L2QA((8))\n\n\n* The weighted average cost of debt for CSC Holdings, LLC Restricted Group was\n6.6% and the weighted average life of debt was 2.7 years\n\n\n\n\n * Consolidated net debt((7)) for Cablevision Litchfield, LLC and CSC Optimum\nHoldings, LLC (the \"UnSub Group\") was $2,317 million, representing\nconsolidated net leverage of 1.2x L2QA((8))\n\n\n* The weighted average cost of debt for the UnSub Group was 9.0% and the\nweighted average life of debt was 2.4 years\n\n\n\n\n * Consolidated net debt((7)) for Lightpath was $1,570 million, representing net\nleverage of 5.5x L2QA((8))\n\n\n* The weighted average cost of debt for Lightpath Consolidated was 5.6% and\nthe\nweighted average life of debt was 4.7 years\n\n\n\n\nShares Outstanding\n\n\n * As of June 30, 2026, Optimum Communications had 392,560,390 combined shares of\nClass A and Class B common stock outstanding.\n\nPrivate Placement of Preferred Units\n\n\n * On May 29, 2026, CSC Investments II LLC (“CSC II”), an indirect wholly\nowned subsidiary of Optimum Communications, Inc. completed a private placement\nof newly issued Series A Preferred Units to certain institutional accredited\ninvestors for an aggregate purchase price of $300 million.\n\n\n\nThe proceeds from the private placement were used for general corporate\npurposes, including financing a tender offer and paying related transaction\nexpenses. The Preferred Units are perpetual preferred interests in CSC II,\nwith quarterly dividends payable in cash or by compounding, at CSC II’s\noption. Dividends accrue at 13.0% per year if paid in cash or 15.0% per year\nif compounded, and the rate may increase by 2.0% per year during certain\ntriggering events. The Preferred Units may be redeemed by CSC II at any time,\nsubject to the applicable redemption price, and are subject to mandatory\nredemption upon certain events involving CSC II and its subsidiaries.\n\nPrivate Exchange Transaction\n\n\n * In a private exchange transaction completed on May 29, 2026, CSC II issued\nadditional Preferred Units with an aggregate initial stated value of $212.5\nmillion to Next Partner, L.P. and certain members of Optimum’s board of\ndirectors and executive management in exchange for shares of Optimum Class A\nand Class B common stock. Such exchanged common shares were not canceled.\n\nCash Tender Offer\n\n\n * In July 2026, CSC II completed its tender offer to purchase shares of Class A\ncommon stock of Optimum Communications, Inc. from unaffiliated stockholders at\na purchase price of $2.50 per share. In accordance with the terms and\nconditions of the tender offer, CSC II accepted for purchase 120 million\nshares for an aggregate purchase price of $300 million, excluding fees and\nexpenses related to the tender offer. Such purchased common shares were not\ncanceled.\n   \n Customer Metrics (in thousands, except per customer amounts)     \n   Q1-25 Q2-25 Q3-25 Q4-25 FY-25 Q1-26((9)) Q2-26 \n Total Passings((10)) 9,856.1 9,891.5 9,942.9 10,008.2 10,008.2 10,045.9 10,114.1 \n Total Passings additions 25.2 35.4 51.4 65.2 177.3 37.8 68.2 \n Total Customer Relationships((11)(12))               \n Residential 4,130.5 4,088.0 4,028.6 3,963.8 3,963.8 3,897.0 3,855.6 \n SMB 375.3 374.3 371.9 369.9 369.9 367.1 362.5 \n Total Unique Customer Relationships 4,505.9 4,462.2 4,400.5 4,333.6 4,333.6 4,264.1 4,218.0 \n Residential net additions (losses) (43.2) (42.5) (59.3) (64.9) (209.9) (66.8) (41.4) \n Business Services net additions (losses) (1.3) (1.1) (2.4) (2.0) (6.7) (2.8) (4.7) \n Total customer net additions (losses) (44.4) (43.6) (61.7) (66.9) (216.6) (69.5) (46.1) \n Residential PSUs               \n Broadband 3,963.3 3,928.3 3,872.2 3,811.4 3,811.4 3,749.6 3,714.3 \n Video 1,792.4 1,736.3 1,674.9 1,628.4 1,628.4 1,570.7 1,526.6 \n Telephony 1,200.0 1,147.8 1,093.1 1,041.6 1,041.6 994.9 951.3 \n Broadband net additions (losses) (36.6) (35.0) (56.2) (60.7) (188.4) (61.9) (35.3) \n Video net additions (losses) (87.7) (56.1) (61.4) (46.5) (251.7) (57.7) (44.1) \n Telephony net additions (losses) (69.2) (52.2) (54.7) (51.5) (227.7) (46.7) (43.5) \n Residential ARPU((1)) ($) 133.93 133.68 133.28 134.49 134.18 132.32 132.22 \n Convergence ARPU((2)) ($) 78.38 77.95 78.26 80.87 79.09 79.32 79.80 \n SMB PSUs               \n Broadband 345.7 345.6 343.6 342.0 342.0 339.7 335.4 \n Video 78.7 76.6 74.6 72.6 72.6 70.4 68.7 \n Telephony 191.9 188.9 185.6 182.5 182.5 179.2 175.0 \n Broadband net additions (losses) (0.4) (0.1) (2.1) (1.5) (4.1) (2.3) (4.3) \n Video net additions (losses) (2.4) (2.0) (2.0) (2.0) (8.5) (2.1) (1.8) \n Telephony net additions (losses) (2.6) (3.0) (3.3) (3.1) (12.0) (3.3) (4.2) \n Total Mobile Lines((13))               \n Mobile ending lines 508.6 546.4 584.4 622.5 622.5 674.1 724.0 \n Mobile line net additions 49.0 37.8 38.0 38.1 162.9 51.6 49.9 \n   \n\n Fiber (FTTH) Customer Metrics (in thousands)     \n   Q1-25 Q2-25 Q3-25 Q4-25 FY-25 Q1-26 Q2-26 \n FTTH Total Passings((14)) 2,995.0 3,023.4 3,053.0 3,096.0 3,096.0 3,121.6 3,155.8 \n FTTH Total Passing additions 33.2 28.5 29.6 43.0 134.2 25.6 34.1 \n FTTH Residential customer relationships 590.2 644.6 683.6 694.8 694.8 706.7 725.2 \n FTTH SMB customer relationships 16.5 18.5 19.8 21.2 21.2 22.4 23.7 \n FTTH Total Customer Relationships((15)) 606.7 663.0 703.5 715.9 715.9 729.1 748.9 \n FTTH Residential net additions 66.7 54.4 39.0 11.1 171.3 12.0 18.5 \n FTTH SMB net additions 1.8 1.9 1.4 1.3 6.4 1.2 1.3 \n FTTH Total Customer Net Additions 68.5 56.3 40.4 12.5 177.8 13.2 19.8 \n   \n\n Optimum Communications, Inc. Consolidated Operating Results \n ($ and shares in thousands, except per share data) \n (unaudited) \n           \n   Three Months Ended June 30,   Six Months Ended June 30, \n   2026   2025   2026   2025 \n                 \n Revenue:           \n                 \n Broadband $ 840,919     $ 885,139     $ 1,690,958     $ 1,784,700   \n Video   587,830       660,540       1,190,053       1,326,108   \n Telephony   56,296       64,633       114,702       131,045   \n Mobile   52,553       37,621       102,102       74,320   \n Residential revenue   1,537,598       1,647,933       3,097,815       3,316,173   \n Business services and wholesale   366,286       361,788       730,586       725,333   \n News and Advertising   99,978       118,771       219,652       221,181   \n Other   19,841       18,711       41,018       36,798   \n Total revenue   2,023,703       2,147,203       4,089,071       4,299,485   \n Operating expenses:               \n Programming and other direct costs   587,654       662,690       1,218,783       1,333,221   \n Other operating expenses   655,956       696,867       1,316,159       1,395,053   \n Restructuring, impairments and other operating items   206,968       66,826       2,934,597       88,448   \n Depreciation and amortization   407,076       409,697       813,572       828,182   \n Operating income (loss)   166,049       311,123       (2,194,040 )     654,581   \n Other income (expense):               \n Interest expense, net   (475,576 )     (444,659 )     (933,395 )     (872,675 ) \n Gain (loss) on investments and sale of affiliate interests   (10,958 )     —       (10,958 )     5   \n Gain (loss) on interest rate swap contracts, net   —       430       2,398       (1,289 ) \n Loss on extinguishment of debt and write-off of deferred financing costs   —       (1,693 )     (106,045 )     (1,693 ) \n Other expense, net   (315 )     (834 )     (844 )     (1,797 ) \n Loss before income taxes   (320,800 )     (135,633 )     (3,242,884 )     (222,868 ) \n Income tax benefit   38,671       47,647       83,779       63,611   \n Net loss   (282,129 )     (87,986 )     (3,159,105 )     (159,257 ) \n Net income attributable to noncontrolling interests   (9,632 )     (8,265 )     (16,727 )     (12,670 ) \n Net loss attributable to Optimum Communications, Inc. stockholders $ (291,761 )   $ (96,251 )   $ (3,175,832 )   $ (171,927 ) \n Net loss per share:               \n Basic and diluted net loss per share attributable to Optimum Communications, $ (0.67 )   $ (0.21 )   $ (6.93 )   $ (0.37 ) \n Inc. stockholders \n Basic and diluted weighted average common shares (in thousands)   445,703       467,744       458,988       466,311   \n   \n\n Optimum Communications, Inc. Consolidated Statements of Cash Flows \n ($ in thousands) \n (unaudited) \n   \n   Six Months Ended June 30, \n   2026   2025 \n         \n Cash flows from operating activities:       \n Net loss $ (3,159,105 )   $ (159,257 ) \n Adjustments to reconcile net loss to net cash provided by operating       \n activities: \n Depreciation and amortization   813,572       828,182   \n Indefinite-lived cable franchise rights impairment   2,700,000       —   \n Loss (gain) on investments, sale of assets or sale of affiliate interests   10,958       (5 ) \n Loss on extinguishment of debt and write-off of deferred financing costs   106,045       1,693   \n Amortization of deferred financing costs and discounts (premiums) on   32,406       8,138   \n indebtedness \n Share-based compensation expense   20,616       31,615   \n Deferred income taxes   (200,891 )     (260,615 ) \n Decrease in right-of-use assets   21,802       22,401   \n Non-cash exchange of shares for redeemable preferred units   156,555       —   \n Allowance for credit losses   39,616       30,589   \n Other   3,156       1,253   \n Change in operating assets and liabilities, net of effects of acquisitions and       \n dispositions: \n Accounts receivable, trade   (31,839 )     2,590   \n Prepaid expenses and other assets   (117,538 )     (62,685 ) \n Amounts due from and due to affiliates   (20,139 )     15,072   \n Accounts payable and accrued liabilities   (58,699 )     114,732   \n Interest payable   24,730       (3,242 ) \n Deferred revenue   56,232       23,425   \n Interest rate swap contracts   932       5,562   \n Net cash provided by operating activities   398,409       599,448   \n Cash flows from investing activities:       \n Capital expenditures   (627,729 )     (739,643 ) \n Payments for acquisitions, net of cash acquired   —       (7,616 ) \n Proceeds related to sale of equipment, net of costs of disposal   12,138       2,337   \n Other, net   (7,260 )     (633 ) \n Net cash used in investing activities   (622,851 )     (745,555 ) \n Cash flows from financing activities:       \n Proceeds from long-term debt   2,856,954       675,000   \n Repayment of debt   (2,544,621 )     (404,839 ) \n Principal payments on finance lease obligations   (12,636 )     (92,579 ) \n Additions to deferred financing costs   (128,130 )     —   \n Proceeds from issuance of redeemable preferred units, net   289,197       —   \n Distributions to noncontrolling interests   —       (26,452 ) \n Other, net   (13,268 )     (15,148 ) \n Net cash provided by financing activities   447,496       135,982   \n Net increase (decrease) in cash and cash equivalents   223,054       (10,125 ) \n Effect of exchange rate changes on cash and cash equivalents   2       884   \n Net increase (decrease) in cash, cash equivalents and restricted cash   223,056       (9,241 ) \n Cash, cash equivalents and restricted cash at beginning of year   1,141,443       256,824   \n Cash, cash equivalents and restricted cash at end of year $ 1,364,499     $ 247,583   \n   \n\n\nReconciliation of Non-GAAP Financial Measures\n\nWe define Adjusted EBITDA, which is a non-GAAP financial measure, as net\nincome (loss) excluding income taxes, non-operating income or expenses, gain\n(loss) on extinguishment of debt and write-off of deferred financing costs,\ngain (loss) on interest rate swap contracts, gain (loss) on derivative\ncontracts, gain (loss) on investments and sale of affiliate interests,\ninterest expense, net, depreciation and amortization, share-based\ncompensation, restructuring, impairments and other operating items (such as\nsignificant legal settlements and contractual payments for terminated\nemployees). We define Adjusted EBITDA margin as Adjusted EBITDA divided by\ntotal revenue.\n\nAdjusted EBITDA eliminates the significant non-cash depreciation and\namortization expense that results from the capital-intensive nature of our\nbusiness and from intangible assets recognized from acquisitions, as well as\ncertain non-cash and other operating items that affect the period-to-period\ncomparability of our operating performance. In addition, Adjusted EBITDA is\nunaffected by our capital and tax structures and by our investment activities.\n\nWe believe Adjusted EBITDA is an appropriate measure for evaluating our\noperating performance. Adjusted EBITDA and similar measures with similar\ntitles are common performance measures used by investors, analysts and peers\nto compare performance in our industry. Internally, we use revenue and\nAdjusted EBITDA measures as important indicators of our business performance\nand evaluate management’s effectiveness with specific reference to these\nindicators. We believe Adjusted EBITDA provides management and investors a\nuseful measure for period-to-period comparisons of our core business and\noperating results by excluding items that are not comparable across reporting\nperiods or that do not otherwise relate to our ongoing operating results.\nAdjusted EBITDA should be viewed as a supplement to and not a substitute for\noperating income (loss), net income (loss), and other measures of performance\npresented in accordance with U.S. generally accepted accounting principles\n(“GAAP”). Since Adjusted EBITDA is not a measure of performance calculated\nin accordance with GAAP, this measure may not be comparable to similar\nmeasures with similar titles used by other companies.\n\nWe also use Free Cash Flow (defined as net cash flows from operating\nactivities less cash capital expenditures) as a liquidity measure. We believe\nthis measure is useful to investors in evaluating our ability to service our\ndebt and make continuing investments with internally generated funds, although\nit may not be directly comparable to similar measures reported by other\ncompanies.\n   \n Reconciliation of Net Loss to Adjusted EBITDA \n ($ in thousands) \n (unaudited) \n   \n   Three Months Ended June 30,   Six Months Ended June 30, \n   2026   2025   2026   2025 \n                 \n Net loss $ (282,129 )   $ (87,986 )   $ (3,159,105 )   $ (159,257 ) \n Income tax benefit   (38,671 )     (47,647 )     (83,779 )     (63,611 ) \n Other expense, net   315       834       844       1,797   \n Loss (gain) on interest rate swap contracts, net   —       (430 )     (2,398 )     1,289   \n Loss (gain) on investments and sale of affiliate interests   10,958       —       10,958       (5 ) \n Loss on extinguishment of debt and write-off of deferred financing costs   —       1,693       106,045       1,693   \n Interest expense, net   475,576       444,659       933,395       872,675   \n Depreciation and amortization   407,076       409,697       813,572       828,182   \n Restructuring, impairments and other operating items   206,968       66,826       2,934,597       88,448   \n Share-based compensation   5,639       16,166       20,616       31,615   \n Adjusted EBITDA $ 785,732     $ 803,812     $ 1,574,745     $ 1,602,826   \n Adjusted EBITDA margin   38.8 %     37.4 %     38.5 %     37.3 % \n   \n\n Reconciliation of net cash flow from operating activities to Free Cash Flow \n (Deficit) \n (in thousands) \n (unaudited) \n   \n   Three Months Ended June 30,   Six Months Ended June 30, \n   2026   2025   2026   2025 \n                 \n Net cash flows from operating activities $ 228,126     $ 411,965   $ 398,409     $ 599,448   \n Less: Capital expenditures (cash)   320,025       383,519     627,729       739,643   \n Free Cash Flow (Deficit) $ (91,899 )   $ 28,446   $ (229,320 )   $ (140,195 ) \n   \n\n Consolidated Net Debt as of June 30, 2026 \n ($ in millions) \n   \n CSC Holdings, LLC Restricted Group Principal   Coupon /   Maturity \n \n \n \n \nAmount \nMargin \n Drawn RCF $2,225   SOFR+2.350%   2027 \n Term Loan B-5 2,813   ABR((16))   2027 \n Guaranteed Notes 1,310   5.500%   2027 \n Guaranteed Notes 1,000   5.375%   2028 \n Guaranteed Notes 1,000   11.250%   2028 \n Guaranteed Notes 2,050   11.750%   2029 \n Guaranteed Notes 1,750   6.500%   2029 \n Guaranteed Notes 1,100   4.125%   2030 \n Guaranteed Notes 1,000   3.375%   2031 \n Guaranteed Notes 1,500   4.500%   2031 \n Senior Notes 1,046   7.500%   2028 \n Legacy unexchanged Cequel Notes 4   7.500%   2028 \n Senior Notes 2,250   5.750%   2030 \n Senior Notes 2,325   4.625%   2030 \n Senior Notes 500   5.000%   2031 \n CSC Holdings, LLC Restricted Group Gross Debt 21,873         \n CSC Holdings, LLC Restricted Group Cash (98)         \n CSC Holdings, LLC Restricted Group Net Debt $21,775         \n             \n CSC Holdings, LLC Restricted Group Undrawn RCF $75.2         \n   \n\n UnSub Group Credit Agreement Principal Amount   Coupon / Margin   Maturity \n Term Loan B-8 $3,100   9.000%   2028 \n UnSub Group cash (783)         \n UnSub Net Debt $2,317         \n   \n\n Lightpath Consolidated Principal Amount   Coupon / Margin   Maturity \n Secured Fiber Network Revenue Note $1,527   5.597%   2031 \n Secured Fiber Network Revenue Note 130   5.890%   2031 \n Lightpath Consolidated Gross Debt 1,657         \n Lightpath Consolidated Cash (87)         \n Lightpath Consolidated Net Debt $1,570         \n             \n Lightpath Consolidated amount undrawn under Variable Funding Notes, subject to $93.7         \n covenant limitations \n   \n\n Net Leverage Schedule as of June 30, 2026 \n ($ in millions) \n   \n   CSC Holdings Restricted Group((17))   Lightpath Consolidated((18))   UnSub Group   Optimum Communications Consolidated \n                 \n Gross Debt Consolidated((19))             $21,873   $1,657   $3,100   $26,630 \n Cash      (98)   (87)   (783)   (1,296) \n Net Debt Consolidated((7))  $21,775   $1,570   $2,317   $25,333 \n LTM EBITDA        $999   $303   $1,996   $3,308 \n L2QA EBITDA      $955   $284   $1,902   $3,149 \n Net Leverage (LTM)         21.8x   5.2x   1.2x   7.7x \n Net Leverage (L2QA)((8))    22.8x   5.5x   1.2x   8.0x \n WACD(%)           6.6%   5.6%   9.0%   6.8% \n   \n\n Reconciliation to Financial Reported Debt \n   \n   Optimum Communications Consolidated \n Total Debenture and Loans from Financial Institutions (Carrying Amount) $26,439 \n Unamortized financing costs and discounts, net of unamortized premiums 191 \n Gross Debt Consolidated((19)) 26,630 \n Finance leases 112 \n Total Debt 26,742 \n Cash (1,296) \n Net Debt Including Finance Leases $25,446 \n   \n\n (1) Residential ARPU is calculated by dividing the average monthly revenue for the \n respective period derived from the sale of broadband, video, telephony and \n mobile services to residential customers by the average number of total \n residential customers for the same period and excludes mobile-only customer \n relationships. \n (2) Convergence ARPU is calculated by dividing the average monthly revenue for the \n respective period derived from the sale of broadband and mobile services to \n residential customers by the average number of total residential broadband \n customers for the same period and excludes mobile-only customer relationships. \n (3) See “Reconciliation of Non-GAAP Financial Measures” beginning on page 7 of \n this earnings release. \n (4) Capital intensity refers to total cash capital expenditures as a percentage of \n total revenue. \n (5) Total mobile penetration of broadband base is expressed as the percentage of \n customers subscribing to both broadband and mobile services divided by the \n total broadband customer base. Excludes mobile only customers. As of Q2-26, \n this metric in the current period and historical periods has been restated to \n align with total broadband counts versus previously disclosed residential \n only. \n (6) Residential video ARPU is calculated by dividing the average monthly \n residential video revenue for the respective period by the average number of \n total residential video customers for the same period. \n (7) Net debt, defined as the principal amount of debt less cash, and excluding \n finance leases and other notes. \n (8) L2QA leverage is calculated as quarter end net debt consolidated divided by \n the last two quarters of Adjusted EBITDA annualized. \n (9) Broadband subscriber net adds and video subscriber net adds in Q1-26 include \n subscriber adjustments taken in the quarter related to prior periods. \n Excluding these adjustments total residential and SMB broadband subscriber net \n losses would have been 56k and total residential and SMB video subscriber net \n losses would have been 50k. \n (10) Total passings represents the estimated number of single residence homes, \n apartments and condominium units passed by the hybrid-fiber-coaxial (HFC) and \n fiber-to-the-home (FTTH) network in areas serviceable without further \n extending the transmission lines. In addition, it includes commercial \n establishments that have connected to our HFC and FTTH network. \n (11) Total Unique Customer Relationships represent the number of \n households/businesses that receive at least one of our fixed-line services. \n Customers represent each customer account (set up and segregated by customer \n name and address), weighted equally and counted as one customer, regardless of \n size, revenue generated, or number of boxes, units, or outlets on our HFC and \n FTTH network. Free accounts are included in the customer counts along with all \n active accounts, but they are limited to a prescribed group. Most of these \n accounts are also not entirely free, as they typically generate revenue \n through pay-per-view or other pay services and certain equipment fees. Free \n status is not granted to regular customers as a promotion. In counting bulk \n residential customers, such as an apartment building, we count each \n subscribing unit within the building as one customer, but do not count the \n master account for the entire building as a customer. We count a bulk \n commercial customer, such as a hotel, as one customer, and do not count \n individual room units at that hotel. \n (12) Total Customer Relationship metrics do not include mobile-only customers. \n (13) Mobile lines represent the number of residential and business customers’ \n wireless connections, which include mobile phone handsets and other mobile \n wireless connected devices. An individual customer relationship may have \n multiple mobile lines. The FY 2025, Q1 2026, and Q2 2026 ending lines include \n approximately 17.6 thousand, 20.9 thousand and 25.5 thousand lines related to \n business customers, respectively. The service revenue related to these \n business customers is reflected in \"Business services and wholesale\" in the \n table above. \n (14) Represents the estimated number of single residence homes, apartments and \n condominium units passed by the FTTH network in areas serviceable without \n further extending the transmission lines. In addition, it includes commercial \n establishments that have connected to our FTTH network. \n (15) Represents number of households/businesses that receive at least one of our \n fixed-line services on our FTTH network. FTTH customers represent each \n customer account (set up and segregated by customer name and address), \n weighted equally and counted as one customer, regardless of size, revenue \n generated, or number of boxes, units, or outlets on our FTTH network. Free \n accounts are included in the customer counts along with all active accounts, \n but they are limited to a prescribed group. Most of these accounts are also \n not entirely free, as they typically generate revenue through pay-per view or \n other pay services and certain equipment fees. Free status is not granted to \n regular customers as a promotion. In counting bulk residential customers, such \n as an apartment building, we count each subscribing unit within the building \n as one customer, but do not count the master account for the entire building \n as a customer. We count a bulk commercial customer, such as a hotel, as one \n customer, and do not count individual room units at that hotel. \n (16) The interest on the Incremental Term Loan B-5 at a rate equal to the alternate \n base rate (“ABR”), plus the applicable margin, where the ABR is the \n greater of (x) prime rate or (y) the federal funds effective rate plus 50 \n basis points, and the applicable margin for any ABR loan is 1.50% per annum. \n (17) CSC Holdings, LLC Restricted Group excludes the unrestricted subsidiaries, \n primarily Lightpath Fiber Issuer LLC, Cablevision Funding LLC, Cablevision \n Litchfield, LLC and CSC Optimum Holdings, LLC, and certain subsidiaries of CSC \n Holdings designated as “unrestricted subsidiaries” for the purposes of the \n CSC Holdings silo on November 25, 2025. \n (18) Amounts represent Lightpath Consolidated, which primarily consists of \n Lightpath Fiber Issuer LLC, as well as certain network assets between New York \n City and Ashburn, Virginia. \n (19) Principal amount of debt excluding finance leases and other notes. \n\n\nCertain numerical information is presented on a rounded basis. Minor\ndifferences in totals and percentage calculations may exist due to rounding.\n\nAbout Optimum Communications\n\nOptimum Communications, Inc. (NYSE: OPTU) is one of the largest broadband\ncommunications and video services providers in the United States, delivering\nbroadband, video, mobile, proprietary content and advertising services to\napproximately 4.2 million residential and business customers across 21 states\nthrough its Optimum brand. We operate Optimum Media, an advanced advertising\nand data business, which provides audience-based, multiscreen advertising\nsolutions to local, regional and national businesses and advertising clients.\nWe also operate News 12, which is focused on delivering best-in-class\nhyperlocal news content.\n\nFORWARD-LOOKING STATEMENTS\n\nCertain statements in this earnings release constitute forward-looking\nstatements within the meaning of the Private Securities Litigation Reform Act\nof 1995. These forward-looking statements include, but are not limited to, all\nstatements other than statements of historical facts contained in this\nearnings release regarding our intentions, beliefs or current expectations\nconcerning, among other things, our future financial condition, liquidity,\ncapital structure and results of operations; our strategy, objectives,\nprospects and trends, including driving margin expansion, improving broadband\ntrends (including simplifying products and services and pricing and improving\nconvergence and value-added product sell-in), maintaining financial discipline\n(including base management, , cost optimization and our AI and automation\ncapabilities) and investing for long-term value creation (including fiber\nexpansion, network upgrades and investments); our capital structure, including\nour ability to address upcoming maturities, refinancing activities,\ndeleveraging initiatives and transformation plans; our subscriber trends\n(including broadband, mobile, video and fiber, churn, customer growth,\nretention, and penetration) and competitive dynamics; our go-to-market\nstrategies and pricing and rate management strategies and the anticipated\nbenefits thereof; our expectations regarding future financial performance,\nincluding revenue, ARPU, Adjusted EBITDA, cash capital expenditures and\npassings additions; network enhancements (including fiber expansion, HFC\nnetwork upgrades, multi-gig speeds and related growth opportunities); and\nfuture developments in the markets in which we participate or are seeking to\nparticipate. These forward-looking statements can be identified by the use of\nforward-looking terminology, including without limitation the terms\n“anticipate”, “believe”, “could”, “estimate”, “expect”,\n“forecast”, “intend”, “may”, “opportunity”, “plan”,\n“project”, “should”, “target”, “outlook”, or “will” or, in\neach case, their negative, or other variations or comparable terminology.\nWhere, in any forward-looking statement, we express an expectation or belief\nas to future results or events, such expectation or belief is expressed in\ngood faith and believed to have a reasonable basis, but there can be no\nassurance that the expectation or belief will result or be achieved or\naccomplished. To the extent that statements in this earnings release are not\nrecitations of historical fact, such statements constitute forward-looking\nstatements, which, by definition, involve risks and uncertainties that could\ncause actual results to differ materially from those expressed or implied by\nsuch statements including risks referred to in our SEC filings, including our\nAnnual Report on Form 10-K for the fiscal year ended December 31, 2025 and\nsubsequent Quarterly Reports on Form 10-Q. You are cautioned to not place\nundue reliance on Optimum Communications’ forward-looking statements. Any\nforward-looking statement speaks only as of the date on which it was made.\nOptimum Communications specifically disclaims any obligation to publicly\nupdate or revise any forward-looking statement, as of any future date.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260806423198/en/\n(https://www.businesswire.com/news/home/20260806423198/en/)\n\nInvestor Relations \n\nJohn Hsu: +1 917 405 2097 / john.hsu@optimum.com \n(mailto:john.hsu@optimum.com) \nSarah Freedman: +1 631 660 8714 / sarah.freedman@optimum.com\n(mailto:sarah.freedman@optimum.com)\n\nMedia Relations \n\nLisa Anselmo: +1 516 279 9461 / lisa.anselmo@optimum.com \n(mailto:lisa.anselmo@optimum.com) \nJanet Meahan: +1 516 519 2353 / janet.meahan@optimum.com\n(mailto:janet.meahan@optimum.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw8RNy0Fa","title":"Optimum Reports Second Quarter 2026 Results","author":"Business Wire","ticker":"OPTU","created":"2026-08-06T11:00:00.504Z","tickers":["OPTU"],"exchange":"NYSE","article_body":"Optimum Reports Second Quarter 2026 Results\n\nOptimum Communications, Inc. (NYSE: OPTU) today reports results for the second\nquarter ended June 30, 2026.\n\nDennis Mathew, Optimum Chairman and Chief Executive Officer, said: \"Our second\nquarter results reflect disciplined execution across every part of our\nbusiness. We expanded gross margin and Adjusted EBITDA margin, drove\nsequential improvement in broadband trends, delivered our best second-quarter\nmobile line growth to date, grew convergence ARPU year over year, and\ncontinued to expand our footprint, all while reducing operating expenses and\nsimplifying how we operate. We are sharpening our go-to-market approach,\ndeepening customer relationships through convergence, and transforming the\ncustomer experience to support stronger broadband performance over time. At\nthe same time, we continue to take deliberate steps to strengthen our\nfinancial foundation, which remains a top priority as we position the business\nfor long-term success. We remain focused on executing every day, investing\nwhere we see the strongest returns, and delivering best-in-class connectivity\nto the communities we serve.\"\n\nSecond Quarter 2026 Overview\n\n\n * Total revenue of $2.02 billion in Q2 2026 (-5.8% year over year)\n\n * Residential revenue of $1.54 billion in Q2 2026 (-6.7% year over year)\n\n\n* Residential average revenue per user (ARPU)((1)) of $132.22 (-1.1% year over\nyear)\n\n * Convergence ARPU((2)) of $79.80 (+2.4% year over year)\n\n\n\n\n * Net loss attributable to stockholders of ($291.8) million (($0.67)/share on a\ndiluted basis) in Q2 2026, compared to ($96.3) million (($0.21)/share on a\ndiluted basis) in Q2 2025. Net loss margin attributable to stockholders of\n-14.4% in Q2 2026\n\n * Net cash flows from operating activities of $228.1 million (-44.6% year over\nyear) in Q2 2026\n\n * Adjusted EBITDA((3)) of $785.7 million (-2.2% year over year), margin of 38.8%\nin Q2 2026\n\n * Cash capital expenditures of $320.0 million (-16.6% year over year), capital\nintensity((4)) of 15.8% in Q2 2026\n\n * Free Cash Flow (deficit)((3)) of ($91.9) million in Q2 2026 compared to $28.4\nmillion in Q2 2025\n\nSecond Quarter 2026 Key Operational Highlights\n\n\n * Driving Operational Improvements and Margin Expansion\n\n\n* Year-to-date Q2 2026 Operating Expense (excluding share-based compensation)\nimproved by -5%, supported by lower truck rolls and call volumes, lower sales\nacquisition costs, and workforce optimization\n\n * Gross margin of 71.0% in Q2 2026 expanded by 180 basis points year over year\n\n * Adjusted EBITDA margin((3) )of 38.8% in Q2 2026 expanded by 140 basis points\nyear over year, reflecting cost discipline\n\n * Continued simplifying the end-to-end customer journey through improved\ncustomer communications, digital capabilities, and operational enhancements\n\n\n\n\n * Strengthening Broadband Strategy Amid Competitive Market; Net Losses of 40k\n\n\n* Total broadband primary service units (PSUs) net losses of -40k( )in Q2\n2026,\nwhich benefited from a bulk agreement, compared to -35k in Q2 2025, ending\ntotal broadband subscribers of 4.0 million\n\n * Sharpening go-to-market execution through simpler offers and pricing and\npackaging enhancements, supporting gross add performance\n\n * Enhancing customer retention through data-driven base management and proactive\ncustomer engagement\n\n * Continued higher-speed tier adoption, with 53% of the residential broadband\ncustomer base taking 1 Gig or higher speeds at the end of Q2 2026, up from 38%\nin Q2 2025\n\n\n\n\n * Growing Through Mobile; Best Second Quarter Mobile Line Net Add Performance,\nwith +50k Line Net Additions in Q2 2026\n\n\n* Mobile line net additions of +50k in Q2 2026, representing the strongest\nsecond quarter performance, bringing total mobile lines to 724k\n\n * Residential mobile service revenue grew 40% year over year to $53 million in\nQ2 2026, compared to $38 million in Q2 2025\n\n * Total mobile penetration of the broadband base((5)) reached 8.9% at the end of\nQ2 2026, compared to 6.9% in Q2 2025\n\n\n\n\n * Improving Video Margin and Customer Retention with New Tiered Offerings\n\n\n* Newer tiered video packages, Entertainment TV, Extra TV, and Everything TV\nreached 18% penetration of the residential video base at the end of Q2 2026,\nup from 10% in Q2 2025\n\n * Continued migration from legacy video packages to new tiered offerings\nimproves retention and strengthens video margin profile\n\n * Video gross margin in Q2 2026 expanded by approximately 1,000 basis points in\nthe last three years compared to Q2 2023\n\n * Residential video ARPU((6)) grew +1.4% year over year, partially offsetting\nvideo volume declines in revenue\n\n\n\n\n * Expanding and Enhancing Our Networks\n\n\n* Added +68k total new passings in Q2 2026 and +223k total new passings in the\nlast twelve months (LTM)\n\n * At the end of Q2 2026, approximately 97% of the total footprint had 1 Gig or\nhigher speeds available\n\n * Demand for Lightpath's AI-grade infrastructure continues to be strong;\nLightpath recently announced new fiber builds to support two hyperscale data\ncenter campuses, as well as a second infrastructure tenant on its Eastern\nPennsylvania AI-grade fiber infrastructure build\n\n\n\n\nBalance Sheet Review as of June 30, 2026\n\n\n * Consolidated net debt((7)) for Optimum Communications was $25,333 million,\nrepresenting consolidated net leverage of 8.0x L2QA((8))\n\n\n* The weighted average cost of debt for consolidated Optimum Communications\nwas\n6.8% and the weighted average life of debt was 2.8 years\n\n\n\n\n * Net debt((7)) for CSC Holdings, LLC Restricted Group was $21,775 million,\nrepresenting net leverage of 22.8x L2QA((8))\n\n\n* The weighted average cost of debt for CSC Holdings, LLC Restricted Group was\n6.6% and the weighted average life of debt was 2.7 years\n\n\n\n\n * Consolidated net debt((7)) for Cablevision Litchfield, LLC and CSC Optimum\nHoldings, LLC (the \"UnSub Group\") was $2,317 million, representing\nconsolidated net leverage of 1.2x L2QA((8))\n\n\n* The weighted average cost of debt for the UnSub Group was 9.0% and the\nweighted average life of debt was 2.4 years\n\n\n\n\n * Consolidated net debt((7)) for Lightpath was $1,570 million, representing net\nleverage of 5.5x L2QA((8))\n\n\n* The weighted average cost of debt for Lightpath Consolidated was 5.6% and\nthe\nweighted average life of debt was 4.7 years\n\n\n\n\nShares Outstanding\n\n\n * As of June 30, 2026, Optimum Communications had 392,560,390 combined shares of\nClass A and Class B common stock outstanding.\n\nPrivate Placement of Preferred Units\n\n\n * On May 29, 2026, CSC Investments II LLC (“CSC II”), an indirect wholly\nowned subsidiary of Optimum Communications, Inc. completed a private placement\nof newly issued Series A Preferred Units to certain institutional accredited\ninvestors for an aggregate purchase price of $300 million.\n\n\n\nThe proceeds from the private placement were used for general corporate\npurposes, including financing a tender offer and paying related transaction\nexpenses. The Preferred Units are perpetual preferred interests in CSC II,\nwith quarterly dividends payable in cash or by compounding, at CSC II’s\noption. Dividends accrue at 13.0% per year if paid in cash or 15.0% per year\nif compounded, and the rate may increase by 2.0% per year during certain\ntriggering events. The Preferred Units may be redeemed by CSC II at any time,\nsubject to the applicable redemption price, and are subject to mandatory\nredemption upon certain events involving CSC II and its subsidiaries.\n\nPrivate Exchange Transaction\n\n\n * In a private exchange transaction completed on May 29, 2026, CSC II issued\nadditional Preferred Units with an aggregate initial stated value of $212.5\nmillion to Next Partner, L.P. and certain members of Optimum’s board of\ndirectors and executive management in exchange for shares of Optimum Class A\nand Class B common stock. Such exchanged common shares were not canceled.\n\nCash Tender Offer\n\n\n * In July 2026, CSC II completed its tender offer to purchase shares of Class A\ncommon stock of Optimum Communications, Inc. from unaffiliated stockholders at\na purchase price of $2.50 per share. In accordance with the terms and\nconditions of the tender offer, CSC II accepted for purchase 120 million\nshares for an aggregate purchase price of $300 million, excluding fees and\nexpenses related to the tender offer. Such purchased common shares were not\ncanceled.\n   \n Customer Metrics (in thousands, except per customer amounts)     \n   Q1-25 Q2-25 Q3-25 Q4-25 FY-25 Q1-26((9)) Q2-26 \n Total Passings((10)) 9,856.1 9,891.5 9,942.9 10,008.2 10,008.2 10,045.9 10,114.1 \n Total Passings additions 25.2 35.4 51.4 65.2 177.3 37.8 68.2 \n Total Customer Relationships((11)(12))               \n Residential 4,130.5 4,088.0 4,028.6 3,963.8 3,963.8 3,897.0 3,855.6 \n SMB 375.3 374.3 371.9 369.9 369.9 367.1 362.5 \n Total Unique Customer Relationships 4,505.9 4,462.2 4,400.5 4,333.6 4,333.6 4,264.1 4,218.0 \n Residential net additions (losses) (43.2) (42.5) (59.3) (64.9) (209.9) (66.8) (41.4) \n Business Services net additions (losses) (1.3) (1.1) (2.4) (2.0) (6.7) (2.8) (4.7) \n Total customer net additions (losses) (44.4) (43.6) (61.7) (66.9) (216.6) (69.5) (46.1) \n Residential PSUs               \n Broadband 3,963.3 3,928.3 3,872.2 3,811.4 3,811.4 3,749.6 3,714.3 \n Video 1,792.4 1,736.3 1,674.9 1,628.4 1,628.4 1,570.7 1,526.6 \n Telephony 1,200.0 1,147.8 1,093.1 1,041.6 1,041.6 994.9 951.3 \n Broadband net additions (losses) (36.6) (35.0) (56.2) (60.7) (188.4) (61.9) (35.3) \n Video net additions (losses) (87.7) (56.1) (61.4) (46.5) (251.7) (57.7) (44.1) \n Telephony net additions (losses) (69.2) (52.2) (54.7) (51.5) (227.7) (46.7) (43.5) \n Residential ARPU((1)) ($) 133.93 133.68 133.28 134.49 134.18 132.32 132.22 \n Convergence ARPU((2)) ($) 78.38 77.95 78.26 80.87 79.09 79.32 79.80 \n SMB PSUs               \n Broadband 345.7 345.6 343.6 342.0 342.0 339.7 335.4 \n Video 78.7 76.6 74.6 72.6 72.6 70.4 68.7 \n Telephony 191.9 188.9 185.6 182.5 182.5 179.2 175.0 \n Broadband net additions (losses) (0.4) (0.1) (2.1) (1.5) (4.1) (2.3) (4.3) \n Video net additions (losses) (2.4) (2.0) (2.0) (2.0) (8.5) (2.1) (1.8) \n Telephony net additions (losses) (2.6) (3.0) (3.3) (3.1) (12.0) (3.3) (4.2) \n Total Mobile Lines((13))               \n Mobile ending lines 508.6 546.4 584.4 622.5 622.5 674.1 724.0 \n Mobile line net additions 49.0 37.8 38.0 38.1 162.9 51.6 49.9 \n   \n\n Fiber (FTTH) Customer Metrics (in thousands)     \n   Q1-25 Q2-25 Q3-25 Q4-25 FY-25 Q1-26 Q2-26 \n FTTH Total Passings((14)) 2,995.0 3,023.4 3,053.0 3,096.0 3,096.0 3,121.6 3,155.8 \n FTTH Total Passing additions 33.2 28.5 29.6 43.0 134.2 25.6 34.1 \n FTTH Residential customer relationships 590.2 644.6 683.6 694.8 694.8 706.7 725.2 \n FTTH SMB customer relationships 16.5 18.5 19.8 21.2 21.2 22.4 23.7 \n FTTH Total Customer Relationships((15)) 606.7 663.0 703.5 715.9 715.9 729.1 748.9 \n FTTH Residential net additions 66.7 54.4 39.0 11.1 171.3 12.0 18.5 \n FTTH SMB net additions 1.8 1.9 1.4 1.3 6.4 1.2 1.3 \n FTTH Total Customer Net Additions 68.5 56.3 40.4 12.5 177.8 13.2 19.8 \n   \n\n Optimum Communications, Inc. Consolidated Operating Results \n ($ and shares in thousands, except per share data) \n (unaudited) \n           \n   Three Months Ended June 30,   Six Months Ended June 30, \n   2026   2025   2026   2025 \n                 \n Revenue:           \n                 \n Broadband $ 840,919     $ 885,139     $ 1,690,958     $ 1,784,700   \n Video   587,830       660,540       1,190,053       1,326,108   \n Telephony   56,296       64,633       114,702       131,045   \n Mobile   52,553       37,621       102,102       74,320   \n Residential revenue   1,537,598       1,647,933       3,097,815       3,316,173   \n Business services and wholesale   366,286       361,788       730,586       725,333   \n News and Advertising   99,978       118,771       219,652       221,181   \n Other   19,841       18,711       41,018       36,798   \n Total revenue   2,023,703       2,147,203       4,089,071       4,299,485   \n Operating expenses:               \n Programming and other direct costs   587,654       662,690       1,218,783       1,333,221   \n Other operating expenses   655,956       696,867       1,316,159       1,395,053   \n Restructuring, impairments and other operating items   206,968       66,826       2,934,597       88,448   \n Depreciation and amortization   407,076       409,697       813,572       828,182   \n Operating income (loss)   166,049       311,123       (2,194,040 )     654,581   \n Other income (expense):               \n Interest expense, net   (475,576 )     (444,659 )     (933,395 )     (872,675 ) \n Gain (loss) on investments and sale of affiliate interests   (10,958 )     —       (10,958 )     5   \n Gain (loss) on interest rate swap contracts, net   —       430       2,398       (1,289 ) \n Loss on extinguishment of debt and write-off of deferred financing costs   —       (1,693 )     (106,045 )     (1,693 ) \n Other expense, net   (315 )     (834 )     (844 )     (1,797 ) \n Loss before income taxes   (320,800 )     (135,633 )     (3,242,884 )     (222,868 ) \n Income tax benefit   38,671       47,647       83,779       63,611   \n Net loss   (282,129 )     (87,986 )     (3,159,105 )     (159,257 ) \n Net income attributable to noncontrolling interests   (9,632 )     (8,265 )     (16,727 )     (12,670 ) \n Net loss attributable to Optimum Communications, Inc. stockholders $ (291,761 )   $ (96,251 )   $ (3,175,832 )   $ (171,927 ) \n Net loss per share:               \n Basic and diluted net loss per share attributable to Optimum Communications, $ (0.67 )   $ (0.21 )   $ (6.93 )   $ (0.37 ) \n Inc. stockholders \n Basic and diluted weighted average common shares (in thousands)   445,703       467,744       458,988       466,311   \n   \n\n Optimum Communications, Inc. Consolidated Statements of Cash Flows \n ($ in thousands) \n (unaudited) \n   \n   Six Months Ended June 30, \n   2026   2025 \n         \n Cash flows from operating activities:       \n Net loss $ (3,159,105 )   $ (159,257 ) \n Adjustments to reconcile net loss to net cash provided by operating       \n activities: \n Depreciation and amortization   813,572       828,182   \n Indefinite-lived cable franchise rights impairment   2,700,000       —   \n Loss (gain) on investments, sale of assets or sale of affiliate interests   10,958       (5 ) \n Loss on extinguishment of debt and write-off of deferred financing costs   106,045       1,693   \n Amortization of deferred financing costs and discounts (premiums) on   32,406       8,138   \n indebtedness \n Share-based compensation expense   20,616       31,615   \n Deferred income taxes   (200,891 )     (260,615 ) \n Decrease in right-of-use assets   21,802       22,401   \n Non-cash exchange of shares for redeemable preferred units   156,555       —   \n Allowance for credit losses   39,616       30,589   \n Other   3,156       1,253   \n Change in operating assets and liabilities, net of effects of acquisitions and       \n dispositions: \n Accounts receivable, trade   (31,839 )     2,590   \n Prepaid expenses and other assets   (117,538 )     (62,685 ) \n Amounts due from and due to affiliates   (20,139 )     15,072   \n Accounts payable and accrued liabilities   (58,699 )     114,732   \n Interest payable   24,730       (3,242 ) \n Deferred revenue   56,232       23,425   \n Interest rate swap contracts   932       5,562   \n Net cash provided by operating activities   398,409       599,448   \n Cash flows from investing activities:       \n Capital expenditures   (627,729 )     (739,643 ) \n Payments for acquisitions, net of cash acquired   —       (7,616 ) \n Proceeds related to sale of equipment, net of costs of disposal   12,138       2,337   \n Other, net   (7,260 )     (633 ) \n Net cash used in investing activities   (622,851 )     (745,555 ) \n Cash flows from financing activities:       \n Proceeds from long-term debt   2,856,954       675,000   \n Repayment of debt   (2,544,621 )     (404,839 ) \n Principal payments on finance lease obligations   (12,636 )     (92,579 ) \n Additions to deferred financing costs   (128,130 )     —   \n Proceeds from issuance of redeemable preferred units, net   289,197       —   \n Distributions to noncontrolling interests   —       (26,452 ) \n Other, net   (13,268 )     (15,148 ) \n Net cash provided by financing activities   447,496       135,982   \n Net increase (decrease) in cash and cash equivalents   223,054       (10,125 ) \n Effect of exchange rate changes on cash and cash equivalents   2       884   \n Net increase (decrease) in cash, cash equivalents and restricted cash   223,056       (9,241 ) \n Cash, cash equivalents and restricted cash at beginning of year   1,141,443       256,824   \n Cash, cash equivalents and restricted cash at end of year $ 1,364,499     $ 247,583   \n   \n\n\nReconciliation of Non-GAAP Financial Measures\n\nWe define Adjusted EBITDA, which is a non-GAAP financial measure, as net\nincome (loss) excluding income taxes, non-operating income or expenses, gain\n(loss) on extinguishment of debt and write-off of deferred financing costs,\ngain (loss) on interest rate swap contracts, gain (loss) on derivative\ncontracts, gain (loss) on investments and sale of affiliate interests,\ninterest expense, net, depreciation and amortization, share-based\ncompensation, restructuring, impairments and other operating items (such as\nsignificant legal settlements and contractual payments for terminated\nemployees). We define Adjusted EBITDA margin as Adjusted EBITDA divided by\ntotal revenue.\n\nAdjusted EBITDA eliminates the significant non-cash depreciation and\namortization expense that results from the capital-intensive nature of our\nbusiness and from intangible assets recognized from acquisitions, as well as\ncertain non-cash and other operating items that affect the period-to-period\ncomparability of our operating performance. In addition, Adjusted EBITDA is\nunaffected by our capital and tax structures and by our investment activities.\n\nWe believe Adjusted EBITDA is an appropriate measure for evaluating our\noperating performance. Adjusted EBITDA and similar measures with similar\ntitles are common performance measures used by investors, analysts and peers\nto compare performance in our industry. Internally, we use revenue and\nAdjusted EBITDA measures as important indicators of our business performance\nand evaluate management’s effectiveness with specific reference to these\nindicators. We believe Adjusted EBITDA provides management and investors a\nuseful measure for period-to-period comparisons of our core business and\noperating results by excluding items that are not comparable across reporting\nperiods or that do not otherwise relate to our ongoing operating results.\nAdjusted EBITDA should be viewed as a supplement to and not a substitute for\noperating income (loss), net income (loss), and other measures of performance\npresented in accordance with U.S. generally accepted accounting principles\n(“GAAP”). Since Adjusted EBITDA is not a measure of performance calculated\nin accordance with GAAP, this measure may not be comparable to similar\nmeasures with similar titles used by other companies.\n\nWe also use Free Cash Flow (defined as net cash flows from operating\nactivities less cash capital expenditures) as a liquidity measure. We believe\nthis measure is useful to investors in evaluating our ability to service our\ndebt and make continuing investments with internally generated funds, although\nit may not be directly comparable to similar measures reported by other\ncompanies.\n   \n Reconciliation of Net Loss to Adjusted EBITDA \n ($ in thousands) \n (unaudited) \n   \n   Three Months Ended June 30,   Six Months Ended June 30, \n   2026   2025   2026   2025 \n                 \n Net loss $ (282,129 )   $ (87,986 )   $ (3,159,105 )   $ (159,257 ) \n Income tax benefit   (38,671 )     (47,647 )     (83,779 )     (63,611 ) \n Other expense, net   315       834       844       1,797   \n Loss (gain) on interest rate swap contracts, net   —       (430 )     (2,398 )     1,289   \n Loss (gain) on investments and sale of affiliate interests   10,958       —       10,958       (5 ) \n Loss on extinguishment of debt and write-off of deferred financing costs   —       1,693       106,045       1,693   \n Interest expense, net   475,576       444,659       933,395       872,675   \n Depreciation and amortization   407,076       409,697       813,572       828,182   \n Restructuring, impairments and other operating items   206,968       66,826       2,934,597       88,448   \n Share-based compensation   5,639       16,166       20,616       31,615   \n Adjusted EBITDA $ 785,732     $ 803,812     $ 1,574,745     $ 1,602,826   \n Adjusted EBITDA margin   38.8 %     37.4 %     38.5 %     37.3 % \n   \n\n Reconciliation of net cash flow from operating activities to Free Cash Flow \n (Deficit) \n (in thousands) \n (unaudited) \n   \n   Three Months Ended June 30,   Six Months Ended June 30, \n   2026   2025   2026   2025 \n                 \n Net cash flows from operating activities $ 228,126     $ 411,965   $ 398,409     $ 599,448   \n Less: Capital expenditures (cash)   320,025       383,519     627,729       739,643   \n Free Cash Flow (Deficit) $ (91,899 )   $ 28,446   $ (229,320 )   $ (140,195 ) \n   \n\n Consolidated Net Debt as of June 30, 2026 \n ($ in millions) \n   \n CSC Holdings, LLC Restricted Group Principal   Coupon /   Maturity \n \n \n \n \nAmount \nMargin \n Drawn RCF $2,225   SOFR+2.350%   2027 \n Term Loan B-5 2,813   ABR((16))   2027 \n Guaranteed Notes 1,310   5.500%   2027 \n Guaranteed Notes 1,000   5.375%   2028 \n Guaranteed Notes 1,000   11.250%   2028 \n Guaranteed Notes 2,050   11.750%   2029 \n Guaranteed Notes 1,750   6.500%   2029 \n Guaranteed Notes 1,100   4.125%   2030 \n Guaranteed Notes 1,000   3.375%   2031 \n Guaranteed Notes 1,500   4.500%   2031 \n Senior Notes 1,046   7.500%   2028 \n Legacy unexchanged Cequel Notes 4   7.500%   2028 \n Senior Notes 2,250   5.750%   2030 \n Senior Notes 2,325   4.625%   2030 \n Senior Notes 500   5.000%   2031 \n CSC Holdings, LLC Restricted Group Gross Debt 21,873         \n CSC Holdings, LLC Restricted Group Cash (98)         \n CSC Holdings, LLC Restricted Group Net Debt $21,775         \n             \n CSC Holdings, LLC Restricted Group Undrawn RCF $75.2         \n   \n\n UnSub Group Credit Agreement Principal Amount   Coupon / Margin   Maturity \n Term Loan B-8 $3,100   9.000%   2028 \n UnSub Group cash (783)         \n UnSub Net Debt $2,317         \n   \n\n Lightpath Consolidated Principal Amount   Coupon / Margin   Maturity \n Secured Fiber Network Revenue Note $1,527   5.597%   2031 \n Secured Fiber Network Revenue Note 130   5.890%   2031 \n Lightpath Consolidated Gross Debt 1,657         \n Lightpath Consolidated Cash (87)         \n Lightpath Consolidated Net Debt $1,570         \n             \n Lightpath Consolidated amount undrawn under Variable Funding Notes, subject to $93.7         \n covenant limitations \n   \n\n Net Leverage Schedule as of June 30, 2026 \n ($ in millions) \n   \n   CSC Holdings Restricted Group((17))   Lightpath Consolidated((18))   UnSub Group   Optimum Communications Consolidated \n                 \n Gross Debt Consolidated((19))             $21,873   $1,657   $3,100   $26,630 \n Cash      (98)   (87)   (783)   (1,296) \n Net Debt Consolidated((7))  $21,775   $1,570   $2,317   $25,333 \n LTM EBITDA        $999   $303   $1,996   $3,308 \n L2QA EBITDA      $955   $284   $1,902   $3,149 \n Net Leverage (LTM)         21.8x   5.2x   1.2x   7.7x \n Net Leverage (L2QA)((8))    22.8x   5.5x   1.2x   8.0x \n WACD(%)           6.6%   5.6%   9.0%   6.8% \n   \n\n Reconciliation to Financial Reported Debt \n   \n   Optimum Communications Consolidated \n Total Debenture and Loans from Financial Institutions (Carrying Amount) $26,439 \n Unamortized financing costs and discounts, net of unamortized premiums 191 \n Gross Debt Consolidated((19)) 26,630 \n Finance leases 112 \n Total Debt 26,742 \n Cash (1,296) \n Net Debt Including Finance Leases $25,446 \n   \n\n (1) Residential ARPU is calculated by dividing the average monthly revenue for the \n respective period derived from the sale of broadband, video, telephony and \n mobile services to residential customers by the average number of total \n residential customers for the same period and excludes mobile-only customer \n relationships. \n (2) Convergence ARPU is calculated by dividing the average monthly revenue for the \n respective period derived from the sale of broadband and mobile services to \n residential customers by the average number of total residential broadband \n customers for the same period and excludes mobile-only customer relationships. \n (3) See “Reconciliation of Non-GAAP Financial Measures” beginning on page 7 of \n this earnings release. \n (4) Capital intensity refers to total cash capital expenditures as a percentage of \n total revenue. \n (5) Total mobile penetration of broadband base is expressed as the percentage of \n customers subscribing to both broadband and mobile services divided by the \n total broadband customer base. Excludes mobile only customers. As of Q2-26, \n this metric in the current period and historical periods has been restated to \n align with total broadband counts versus previously disclosed residential \n only. \n (6) Residential video ARPU is calculated by dividing the average monthly \n residential video revenue for the respective period by the average number of \n total residential video customers for the same period. \n (7) Net debt, defined as the principal amount of debt less cash, and excluding \n finance leases and other notes. \n (8) L2QA leverage is calculated as quarter end net debt consolidated divided by \n the last two quarters of Adjusted EBITDA annualized. \n (9) Broadband subscriber net adds and video subscriber net adds in Q1-26 include \n subscriber adjustments taken in the quarter related to prior periods. \n Excluding these adjustments total residential and SMB broadband subscriber net \n losses would have been 56k and total residential and SMB video subscriber net \n losses would have been 50k. \n (10) Total passings represents the estimated number of single residence homes, \n apartments and condominium units passed by the hybrid-fiber-coaxial (HFC) and \n fiber-to-the-home (FTTH) network in areas serviceable without further \n extending the transmission lines. In addition, it includes commercial \n establishments that have connected to our HFC and FTTH network. \n (11) Total Unique Customer Relationships represent the number of \n households/businesses that receive at least one of our fixed-line services. \n Customers represent each customer account (set up and segregated by customer \n name and address), weighted equally and counted as one customer, regardless of \n size, revenue generated, or number of boxes, units, or outlets on our HFC and \n FTTH network. Free accounts are included in the customer counts along with all \n active accounts, but they are limited to a prescribed group. Most of these \n accounts are also not entirely free, as they typically generate revenue \n through pay-per-view or other pay services and certain equipment fees. Free \n status is not granted to regular customers as a promotion. In counting bulk \n residential customers, such as an apartment building, we count each \n subscribing unit within the building as one customer, but do not count the \n master account for the entire building as a customer. We count a bulk \n commercial customer, such as a hotel, as one customer, and do not count \n individual room units at that hotel. \n (12) Total Customer Relationship metrics do not include mobile-only customers. \n (13) Mobile lines represent the number of residential and business customers’ \n wireless connections, which include mobile phone handsets and other mobile \n wireless connected devices. An individual customer relationship may have \n multiple mobile lines. The FY 2025, Q1 2026, and Q2 2026 ending lines include \n approximately 17.6 thousand, 20.9 thousand and 25.5 thousand lines related to \n business customers, respectively. The service revenue related to these \n business customers is reflected in \"Business services and wholesale\" in the \n table above. \n (14) Represents the estimated number of single residence homes, apartments and \n condominium units passed by the FTTH network in areas serviceable without \n further extending the transmission lines. In addition, it includes commercial \n establishments that have connected to our FTTH network. \n (15) Represents number of households/businesses that receive at least one of our \n fixed-line services on our FTTH network. FTTH customers represent each \n customer account (set up and segregated by customer name and address), \n weighted equally and counted as one customer, regardless of size, revenue \n generated, or number of boxes, units, or outlets on our FTTH network. Free \n accounts are included in the customer counts along with all active accounts, \n but they are limited to a prescribed group. Most of these accounts are also \n not entirely free, as they typically generate revenue through pay-per view or \n other pay services and certain equipment fees. Free status is not granted to \n regular customers as a promotion. In counting bulk residential customers, such \n as an apartment building, we count each subscribing unit within the building \n as one customer, but do not count the master account for the entire building \n as a customer. We count a bulk commercial customer, such as a hotel, as one \n customer, and do not count individual room units at that hotel. \n (16) The interest on the Incremental Term Loan B-5 at a rate equal to the alternate \n base rate (“ABR”), plus the applicable margin, where the ABR is the \n greater of (x) prime rate or (y) the federal funds effective rate plus 50 \n basis points, and the applicable margin for any ABR loan is 1.50% per annum. \n (17) CSC Holdings, LLC Restricted Group excludes the unrestricted subsidiaries, \n primarily Lightpath Fiber Issuer LLC, Cablevision Funding LLC, Cablevision \n Litchfield, LLC and CSC Optimum Holdings, LLC, and certain subsidiaries of CSC \n Holdings designated as “unrestricted subsidiaries” for the purposes of the \n CSC Holdings silo on November 25, 2025. \n (18) Amounts represent Lightpath Consolidated, which primarily consists of \n Lightpath Fiber Issuer LLC, as well as certain network assets between New York \n City and Ashburn, Virginia. \n (19) Principal amount of debt excluding finance leases and other notes. \n\n\nCertain numerical information is presented on a rounded basis. Minor\ndifferences in totals and percentage calculations may exist due to rounding.\n\nAbout Optimum Communications\n\nOptimum Communications, Inc. (NYSE: OPTU) is one of the largest broadband\ncommunications and video services providers in the United States, delivering\nbroadband, video, mobile, proprietary content and advertising services to\napproximately 4.2 million residential and business customers across 21 states\nthrough its Optimum brand. We operate Optimum Media, an advanced advertising\nand data business, which provides audience-based, multiscreen advertising\nsolutions to local, regional and national businesses and advertising clients.\nWe also operate News 12, which is focused on delivering best-in-class\nhyperlocal news content.\n\nFORWARD-LOOKING STATEMENTS\n\nCertain statements in this earnings release constitute forward-looking\nstatements within the meaning of the Private Securities Litigation Reform Act\nof 1995. These forward-looking statements include, but are not limited to, all\nstatements other than statements of historical facts contained in this\nearnings release regarding our intentions, beliefs or current expectations\nconcerning, among other things, our future financial condition, liquidity,\ncapital structure and results of operations; our strategy, objectives,\nprospects and trends, including driving margin expansion, improving broadband\ntrends (including simplifying products and services and pricing and improving\nconvergence and value-added product sell-in), maintaining financial discipline\n(including base management, , cost optimization and our AI and automation\ncapabilities) and investing for long-term value creation (including fiber\nexpansion, network upgrades and investments); our capital structure, including\nour ability to address upcoming maturities, refinancing activities,\ndeleveraging initiatives and transformation plans; our subscriber trends\n(including broadband, mobile, video and fiber, churn, customer growth,\nretention, and penetration) and competitive dynamics; our go-to-market\nstrategies and pricing and rate management strategies and the anticipated\nbenefits thereof; our expectations regarding future financial performance,\nincluding revenue, ARPU, Adjusted EBITDA, cash capital expenditures and\npassings additions; network enhancements (including fiber expansion, HFC\nnetwork upgrades, multi-gig speeds and related growth opportunities); and\nfuture developments in the markets in which we participate or are seeking to\nparticipate. These forward-looking statements can be identified by the use of\nforward-looking terminology, including without limitation the terms\n“anticipate”, “believe”, “could”, “estimate”, “expect”,\n“forecast”, “intend”, “may”, “opportunity”, “plan”,\n“project”, “should”, “target”, “outlook”, or “will” or, in\neach case, their negative, or other variations or comparable terminology.\nWhere, in any forward-looking statement, we express an expectation or belief\nas to future results or events, such expectation or belief is expressed in\ngood faith and believed to have a reasonable basis, but there can be no\nassurance that the expectation or belief will result or be achieved or\naccomplished. To the extent that statements in this earnings release are not\nrecitations of historical fact, such statements constitute forward-looking\nstatements, which, by definition, involve risks and uncertainties that could\ncause actual results to differ materially from those expressed or implied by\nsuch statements including risks referred to in our SEC filings, including our\nAnnual Report on Form 10-K for the fiscal year ended December 31, 2025 and\nsubsequent Quarterly Reports on Form 10-Q. You are cautioned to not place\nundue reliance on Optimum Communications’ forward-looking statements. Any\nforward-looking statement speaks only as of the date on which it was made.\nOptimum Communications specifically disclaims any obligation to publicly\nupdate or revise any forward-looking statement, as of any future date.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260806423198/en/\n(https://www.businesswire.com/news/home/20260806423198/en/)\n\nInvestor Relations \n\nJohn Hsu: +1 917 405 2097 / john.hsu@optimum.com \n(mailto:john.hsu@optimum.com) \nSarah Freedman: +1 631 660 8714 / sarah.freedman@optimum.com\n(mailto:sarah.freedman@optimum.com)\n\nMedia Relations \n\nLisa Anselmo: +1 516 279 9461 / lisa.anselmo@optimum.com \n(mailto:lisa.anselmo@optimum.com) \nJanet Meahan: +1 516 519 2353 / janet.meahan@optimum.com\n(mailto:janet.meahan@optimum.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-08-06T11:00:02.309256602Z","server_sent_at_ms":1786014002309},"received_at":"2026-08-06T11:00:03.677Z","source_url":"https://www.businesswire.com/news/home/20260806423198/en/"},"analysis":{"id":"99965","press_release_id":"110961","analysis_json":{"industry":{"label":"Diversified Telecommunication Services","sector":"Communication Services"},"redFlags":["Free cash flow swung from positive $28.4 million to a deficit of $91.9 million year-over-year","CSC Holdings Restricted Group leverage is extremely high at 22.8x L2QA","Preferred units issued at high effective interest rate (13.0% cash / 15.0% compounded)","Total revenue declined 5.8% year-over-year","Broadband subscriber net losses widened to 40k from 35k in the prior year"],"eventType":"earnings","narrative":"Optimum reported Q2 revenue of $2.02 billion, down 5.8% year-over-year, with a net loss of $291.8 million or $0.67 per share. Adjusted EBITDA margin improved 140 basis points to 38.8% and operating expenses decreased 5%, but free cash flow turned negative to a deficit of $91.9 million compared to a positive $28.4 million in the prior year.\n\nOperational highlights included 50,000 mobile line net additions, the best second-quarter performance to date, driving mobile revenue up 40% to $53 million. However, broadband subscriber losses widened to 40,000 compared to 35,000 in the prior year, ending the period with 4.0 million total broadband subscribers.\n\nThe company completed a $300 million private placement of preferred units yielding 13% to 15% and a $300 million tender offer for 120 million shares at $2.50 per share. Balance sheet leverage remains a concern, with the restricted group reporting net leverage of 22.8x and the consolidated net leverage at 8.0x.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"Margin and mobile growth are positive signals, but negative free cash flow and restricted leverage of 22.8x highlight persistent financial stress."},"keyFigures":{"revenue":"$2.02 billion","revenueYoy":"-5.8%","customDimensions":{"mobile_revenue":53000000,"adjusted_ebitda":785700000,"broadband_net_losses":-40000,"capital_expenditures":320000000,"mobile_net_additions":50000,"net_debt_consolidated":25333000000,"adjusted_ebitda_margin":"38.8%","net_leverage_consolidated":"8.0x","net_leverage_restricted_group":"22.8x"}},"quotedText":"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.","namedEntities":{"people":[{"name":"Dennis Mathew","role":"Chairman and Chief Executive Officer"},{"name":"John Hsu","role":"Investor Relations"},{"name":"Sarah Freedman","role":"Investor Relations"},{"name":"Lisa Anselmo","role":"Media Relations"},{"name":"Janet Meahan","role":"Media Relations"}],"products":["Optimum Mobile","Lightpath","News 12","Entertainment TV","Extra TV","Everything TV"],"companies":[{"name":"CSC Investments II LLC","relationship":"indirect wholly owned subsidiary"},{"name":"Next Partner, L.P.","relationship":"investor"},{"name":"CSC Holdings, LLC","relationship":"subsidiary"},{"name":"Lightpath","relationship":"subsidiary"}],"dollarAmounts":[{"amount":"$2.02 billion","context":"Total revenue in Q2 2026"},{"amount":"$1.54 billion","context":"Residential revenue in Q2 2026"},{"amount":"$291.8 million","context":"Net loss attributable to stockholders in Q2 2026"},{"amount":"$785.7 million","context":"Adjusted EBITDA in Q2 2026"},{"amount":"$320.0 million","context":"Cash capital expenditures in Q2 2026"},{"amount":"$91.9 million","context":"Free Cash Flow deficit in Q2 2026"},{"amount":"$300 million","context":"Aggregate purchase price of private placement of Preferred Units"},{"amount":"$212.5 million","context":"Aggregate initial stated value of Preferred Units in private exchange transaction"},{"amount":"$300 million","context":"Aggregate purchase price of cash tender offer"},{"amount":"$2.50","context":"Per share purchase price of cash tender offer"},{"amount":"$25,333 million","context":"Consolidated net debt as of June 30, 2026"}]},"materialImpact":{"score":3,"reasoning":"Revenue declined 5.8% year-over-year and free cash flow swung to a deficit of $91.9 million, partially offset by Adjusted EBITDA margin expansion of 140 basis points and strong mobile subscriber growth. The company also completed significant capital restructuring transactions involving preferred units and a tender offer."},"tickerRelevance":{"others":[],"primary":"OPTU"},"globalImportance":25,"audienceRelevance":20,"eventTypeSecondary":["debt_offering","buyback"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"quarterly_earnings_with_liquidity_concerns","sectorWeight":"telecom"}},"event_type":"earnings","event_type_secondary":["debt_offering","buyback"],"sentiment":"mixed","material_impact_score":3,"narrative":"Optimum reported Q2 revenue of $2.02 billion, down 5.8% year-over-year, with a net loss of $291.8 million or $0.67 per share. Adjusted EBITDA margin improved 140 basis points to 38.8% and operating expenses decreased 5%, but free cash flow turned negative to a deficit of $91.9 million compared to a positive $28.4 million in the prior year.\n\nOperational highlights included 50,000 mobile line net additions, the best second-quarter performance to date, driving mobile revenue up 40% to $53 million. However, broadband subscriber losses widened to 40,000 compared to 35,000 in the prior year, ending the period with 4.0 million total broadband subscribers.\n\nThe company completed a $300 million private placement of preferred units yielding 13% to 15% and a $300 million tender offer for 120 million shares at $2.50 per share. Balance sheet leverage remains a concern, with the restricted group reporting net leverage of 22.8x and the consolidated net leverage at 8.0x.","key_figures":{"revenue":"$2.02 billion","revenueYoy":"-5.8%","customDimensions":{"mobile_revenue":53000000,"adjusted_ebitda":785700000,"broadband_net_losses":-40000,"capital_expenditures":320000000,"mobile_net_additions":50000,"net_debt_consolidated":25333000000,"adjusted_ebitda_margin":"38.8%","net_leverage_consolidated":"8.0x","net_leverage_restricted_group":"22.8x"}},"named_entities":{"people":[{"name":"Dennis Mathew","role":"Chairman and Chief Executive Officer"},{"name":"John Hsu","role":"Investor Relations"},{"name":"Sarah Freedman","role":"Investor Relations"},{"name":"Lisa Anselmo","role":"Media Relations"},{"name":"Janet Meahan","role":"Media Relations"}],"products":["Optimum Mobile","Lightpath","News 12","Entertainment TV","Extra TV","Everything TV"],"companies":[{"name":"CSC Investments II LLC","relationship":"indirect wholly owned subsidiary"},{"name":"Next Partner, L.P.","relationship":"investor"},{"name":"CSC Holdings, LLC","relationship":"subsidiary"},{"name":"Lightpath","relationship":"subsidiary"}],"dollarAmounts":[{"amount":"$2.02 billion","context":"Total revenue in Q2 2026"},{"amount":"$1.54 billion","context":"Residential revenue in Q2 2026"},{"amount":"$291.8 million","context":"Net loss attributable to stockholders in Q2 2026"},{"amount":"$785.7 million","context":"Adjusted EBITDA in Q2 2026"},{"amount":"$320.0 million","context":"Cash capital expenditures in Q2 2026"},{"amount":"$91.9 million","context":"Free Cash Flow deficit in Q2 2026"},{"amount":"$300 million","context":"Aggregate purchase price of private placement of Preferred Units"},{"amount":"$212.5 million","context":"Aggregate initial stated value of Preferred Units in private exchange transaction"},{"amount":"$300 million","context":"Aggregate purchase price of cash tender offer"},{"amount":"$2.50","context":"Per share purchase price of cash tender offer"},{"amount":"$25,333 million","context":"Consolidated net debt as of June 30, 2026"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-06T14:55:41.087Z","global_importance":25,"audience_relevance":20,"importance_components":{"tickerTier":"mid-cap","eventGravity":"quarterly_earnings_with_liquidity_concerns","sectorWeight":"telecom"}},"durationMs":458394,"modelName":"glm-4.7"}}