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Liberty Broadband (LBRDA) investor relations material
Liberty Broadband Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved solid quarterly performance with revenue of $257 million, tracking toward record adjusted EBITDA in 2025, and completed the transition to a pure-play connectivity provider after exiting the video business.
Restored all customers affected by a major third-party fiber break; no material near-term impact expected from Typhoon Halong, though long-term effects are being assessed.
Completed the divestiture of GCI Liberty on July 14, 2025, presenting GCI as a discontinued operation and marking a strategic shift.
Entered into a definitive agreement for acquisition by Charter Communications, with the transaction expected to close with Charter’s combination with Cox Communications.
Leadership transition: Martin E. Patterson appointed President and CEO effective July 14, 2025; John C. Malone remains Chairman.
Financial highlights
Total revenue for the quarter was $257 million, a 2% decrease year-over-year, with an operating loss of $488 million due to a $525 million non-cash impairment charge.
Adjusted EBITDA/OIBDA was $92 million, down 8% year-over-year, impacted by lower revenue and higher SG&A expenses.
Consumer revenue declined 4% to $115 million, with wireless revenue up 11% to $52 million, offsetting declines in video and data.
Business revenue remained flat at $142 million; business wireless revenue declined 9%.
Free cash flow on a trailing 12-month basis was $155 million.
Outlook and guidance
Tracking toward record adjusted EBITDA in 2025.
Full-year CapEx expected to be $225–$250 million; 2026 anticipated as peak CapEx year, with a meaningful step-down after.
Plans to scale hybrid fiber coax network, roll out DOCSIS 4.0 upgrades, and expand 5G wireless across Alaska.
Capital spending focused on rural Alaska network improvements and FCC Alaska Plan build-out, expected to complete by end of 2026.
Charter repurchases of its shares from Liberty Broadband are expected to remain a significant source of liquidity until the merger closes.
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