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Altice USA (OPTU) investor relations material
Altice USA Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 saw a net loss of $1.62 billion, primarily due to a $1.6 billion non-cash impairment charge on cable franchise rights, as competitive and macroeconomic pressures weighed on results.
Total revenue declined 5.4% year-over-year to $2.11 billion, with softness in broadband and video subscribers amid intense competition.
Adjusted EBITDA was $831 million, down 3.6% year-over-year but up 3.3% sequentially, with margin expanding to 39.4%.
Gross margin reached a record 69.7%, reflecting operational discipline and efficiency improvements.
Announced a corporate rebranding to Optimum Communications, effective November 7, 2025, with ticker symbol changing to OPTU.
Financial highlights
Q3 2025 revenue was $2.11 billion, down 5.4% year-over-year; Adjusted EBITDA was $831 million, margin 39.4%.
Free cash flow was negative $(178) million for Q3 2025, reflecting higher capex and interest outflows.
Cash capital expenditures were $326 million, down 9.4% year-over-year.
Mobile service revenue grew 38% year-over-year; Lightpath revenue up nearly 6%; news and advertising (excluding political) up almost 9%.
Residential ARPU was $133.28 in Q3 2025, with broadband ARPU at $74.77.
Outlook and guidance
Full-year 2025 Adjusted EBITDA guidance reaffirmed at ~$3.4 billion, with revenue outlook at ~$8.6 billion.
FY 2025 cash capital expenditures projected at ~$1.3 billion, mainly due to Lightpath investments.
Targeting 175,000 new passings in FY 2025, primarily fiber.
Broadband R2 expected to be slightly up year-over-year, with further rate benefits in Q4.
Management expects continued pressure on revenue and customer metrics due to competitive and macroeconomic factors.
Rationale for $1.6B cable franchise impairment
Is broadband PSU loss strategic for profitability?
Plan to reverse negative Free Cash Flow
How to balance broadband volume vs. margin?
What drives Q4 EBITDA growth target?
Detail Lightpath's hyperscaler contract impact
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Next Altice USA earnings date
Q4 202513 Feb, 2026
Next Altice USA earnings date
Q4 202513 Feb, 2026
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Frequently asked questions
All-Encompassing Telecommunications
Altice USA, often just referred to as Altice, is a communications and video service provider operating, as its name suggests, in the United States. The company's operations encompass various offerings including high-speed internet, pay television, telephony services, and more. Altice is headquartered in NYC, and its shares are listed on the NYSE.
European Origin
Altice USA's foundation traces back to Europe. The Altice Group, founded by Patrick Drahi in 2001, began its journey in the telecommunications world from the other side of the Atlantic. Altice made its entry into the US market through a series of acquisitions and quickly became established in the country. While the company shares a name with its European counterpart, the two companies act independently of each other.
Diverse Offerings for a Broad Audience
Altice has a diverse range of services available for both individual consumers and businesses. The company's broadband segment supplies enable millions of Americans to stay connected to the web by providing high-speed internet access. A focus on improving and expanding broadband infrastructure has enabled the company to supply more robust connectivity, including fiber-optic networks that provide faster speeds and more reliable connections. Altice also provides telephone services for Americans, providing both domestic and international calling.
Moving into the streaming world
Beyond just internet services, Altice USA has made significant inroads into the pay television segment. Offering hundreds of channels, they ensure that viewers have access to a plethora of entertainment, news, and sports content. Altice has expanded its services to include streaming solutions and digital platforms, ensuring that its audience, whether they prefer traditional TV or the flexibility of streaming, has its preferred option available.
A Highly Competitive Market
Altice USA operates in a highly competitive market together with companies such as T-Mobile, Verizon, AT&T, and several more offering broadband, and telephony services. The company therefore works to keep pace with evolving consumer demands and technological changes, adapting its offerings and strategies to maintain its position in the market.
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