Record Revenue and Adjusted OIBDA
Total revenue exceeded $1.0 billion for FY2025, a 3% increase year-over-year; record adjusted OIBDA of $403 million, up 12% for the year. Fourth-quarter revenue was $262 million (flat YoY) and adjusted OIBDA was $90 million, up 7% YoY.
Strong Free Cash Flow and Liquidity
Generated $146 million in free cash flow for FY2025, up over 70% vs. 2024. Consolidated cash, cash equivalents and restricted cash totaled $429 million (inclusive of rights offering proceeds). Credit facility has $377 million of undrawn capacity (net of letters of credit).
Successful Rights Offering and Balance Sheet Flexibility
Rights offering was fully subscribed, generating approximately $300 million in net proceeds to support corporate flexibility, potential strategic M&A and investments. Total principal debt is ~ $1.0 billion with net leverage of 2.3x (1.6x consolidated net leverage including parent cash and non-voting preferred).
Wireless Growth and Convergence Momentum
Consumer wireless lines grew 2% YoY to 199,000; total wireless lines ended at 207,500 (including 8,500 business lines). Peak postpaid lines reached ~165,400 driven by promotional activity; ~62% of postpaid lines are sold as part of bundles (up from 57% in 2024); ~40% of broadband customers have one or more wireless lines.
Business Segment Strength
Business revenue increased 7% for the year (and 1% in Q4), driven by a strong upgrade cycle. Business gross margin expanded to 80.1% for the year (78.3% in Q4).
Network Upgrades and Expansion
Significant network initiatives underway: offering 2.5 Gbps where fiber middle mile exists, core upgrades in Anchorage (1.8 GHz plant, smaller nodes), scaling DOCSIS 4.0-capable HFC to enable multi-gig speeds (targeting 5 Gbps and beyond), and on-track completion of Alaska plan build-out commitments.
Operational Resilience and Local Restoration
Rapid restoration after major outages: Typhoon Helong service restored to two affected villages in under four months; Dutch Harbor fiber break repaired in under two weeks. Company expects only modest repair costs (low single-digit millions) and highlights strong field execution.