Uniti Group (UNIT) Q2 2026 earnings summary

Executive summary

• Achieved record results in Q2 2026, driven by strong execution in fiber infrastructure and Kinetic segments, with transformative merger expanding the fiber network to 240,000 route miles across 47 states and serving over 1 million customers, including 603,000 residential fiber subscribers.

• Fiber revenue grew 10% year-over-year, with Kinetic consumer fiber revenue up 19% and net fiber subscriber adds at record levels; consolidated Q2 2026 revenue was $909.7 million, Adjusted EBITDA $357.1 million, and net loss $155.9 million.

• Demand for fiber, especially from hyperscalers, neoclouds, and superscalers, continues to accelerate, with record bookings and robust customer diversification; fiber infrastructure new bookings MRR hit $2.2 million, a record high.

• Strategic focus on building first in metro and wholesale markets, leveraging future-proof technology and unique network assets.

Financial highlights

• Consolidated pro forma revenue and adjusted EBITDA declined 5% and 10% year-over-year, mainly due to legacy service declines, but Q2 2026 consolidated revenue was $909.7 million and Adjusted EBITDA $357.1 million (39% margin); net loss was $155.9 million.

• Kinetic fiber-based revenue grew 12% year-over-year; Kinetic Consumer Fiber revenue grew 19% year-over-year, with subscriber growth of 25%.

• Record consolidated bookings MRR of $2.2 million, up nearly 30% from the previous record.

• Consumer fiber ARPU was $76.97 in Q2 2026, expected to decrease low single-digits in Q3, stabilize, and return to growth in Q4.

• Net loss for Q2 2026 was $155.9 million; net loss margin was -18.9%.

Outlook and guidance

• Raised 2026 guidance for new fiber homes constructed to 475,000–525,000 and increased Kinetic fiber passings target to 2.33–2.38 million; Kinetic targets 675,000–700,000 consumer fiber subscribers by year-end.

• FY2026 revenue outlook: $3,630–$3,680 million; Adjusted EBITDA: $1,450–$1,500 million; net loss expected between $530 million and $480 million.

• Expect Kinetic revenues and contribution margin of $2.145B and $905M, Fiber Infrastructure revenues and margin of $1B and $575M, and Uniti Solutions revenues and margin of $700M and $320M.

• ARPU growth of 2%–3% forecasted for 2027 and beyond; fiber revenue expected to comprise ~75% of total revenue by 2029.

• Hyperscaler deals represent ~$1.5 billion revenue opportunity over five years.