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Optimum Communications announced it will restate financial statements for the fiscal year ended December 31, 2025, and…
OPTUOptimum Communications, Inc.
Optimum Communications announced it will restate financial statements for the fiscal year ended December 31, 2025, and interim periods through June 30, 2026. The company identified errors involving understated deferred tax benefits and overstated liabilities related to non-cash impairment charges of indefinite-lived cable franchise rights. Restatements are expected to reduce previously reported net losses by approximately $430 million for the year ended December 31, 2025, and periods ending September 30, 2025, and by approximately $720 million for the quarter ended March 31, 2026, and six months ended June 30, 2026. The errors do not affect cash balances, revenues, capital expenditures, EBITDA, or loss before income taxes. Management expects to report a material weakness in internal control over financial reporting related to income tax accounting. Optimum Communications operates in the telecommunications industry, providing cable and communication services.