Q4 2025 Liberty Broadband Corp Earnings Call (Q&A session) Transcript
Key Points
- Liberty Broadband Corp (LBRDA) reported record revenue of over $1 billion and adjusted EBITDA of more than $400 million for 2025.
- The company successfully completed a rights offering, resulting in approximately $300 million in net proceeds, providing flexibility for strategic acquisitions and investments.
- Consumer wireless subscribers grew by 2% year-over-year, with a total of 207,500 wireless lines at year-end.
- The company is investing in network infrastructure, offering 2.5 gigabit broadband connectivity to the majority of its customers.
- Liberty Broadband Corp (LBRDA) has been provisionally awarded approximately $120 million in BEAD fund, which will support expansion in unserved locations.
- The company experienced a 3% decline in data subscribers year-over-year, losing 4,500 data subscribers during the year.
- There was a slow recovery in winning back customers in areas affected by a fiber break on a third-party network.
- Consumer revenue declined by 2% for the full year, primarily due to the shutdown of the video business and data subscriber losses.
- The company expects a peak in CapEx spending in 2026, which will result in lower free cash flow compared to the previous year.
- There remains uncertainty regarding the timing of the final award of the BEAD fund, as the state is still negotiating with the NTIA.
Welcome to the GCI Liberty's 2025 year-end earnings call. (Operator Instructions)
As a reminder, this conference will be recorded February 11. I would now like to turn the call over to Hooper Stevens, Senior Vice President of Investor Relations. Please go ahead.
Good morning. Thank you for joining us. This call includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in the most recent Forms 10-K followed by GCI Liberty and Liberty Broadband with the SEC.
These forward-looking statements speak only as of the date of this call, and GCI Liberty and Liberty Broadband expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in GCI Liberty Broadband's expectations with regard thereto or any change in events
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