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Uniti Group Inc.

CIK:0002020795|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues and sales:
Revenues	$ 909.7	$ 300.7	$ 1,897.2	$ 594.6
Costs and expenses:
Selling, general and administrative	178.4	27.9	347.1	56.2
Depreciation and amortization	305.9	79.6	595.7	159.3
Transaction related and other costs	9.6	13.5	39.7	21.3
Total costs and expenses	877.5	155.7	1,754.1	303.9
Operating income	32.2	145.0	143.1	290.7
Other income (expense), net	7.8	(1.1)	14.3	(1.1)
(Loss) gain on extinguishment of debt	0.0	(32.0)	1.2	(40.5)
Interest expense, net	(195.6)	(128.8)	(383.9)	(258.3)
Loss before income taxes	(155.6)	(16.9)	(225.3)	(9.2)
Income tax (expense) benefit	(0.3)	6.2	(0.9)	10.7
Net (loss) income	(155.9)	(10.7)	(226.2)	1.5
Participating securities’ share in earnings	0.0	0.0	0.0	(0.3)
Dividends declared on preferred stock	(15.7)	0.0	(31.2)	0.0
Net (loss) income attributable to common shareholders	$ (171.6)	$ (10.7)	$ (257.4)	$ 1.2
(Loss) earnings per common share:
Basic (in dollars per share)	$ (0.68)	$ (0.07)	$ (1.02)	$ 0.01
Diluted (in dollars per share)	$ (0.68)	$ (0.07)	$ (1.02)	$ 0.01
Weighted-average number of common shares outstanding:
Basic (in shares)	252.9	143.8	252.5	143.7
Diluted (in shares)	252.9	143.8	252.5	143.7
Service revenues
Revenues and sales:
Revenues	$ 852.9	$ 295.8	$ 1,741.9	$ 586.6
Costs and expenses:
Cost of services and sales (exclusive of depreciation and amortization included below)	342.0	30.9	700.2	62.3
Sales revenues
Revenues and sales:
Revenues	56.8	4.9	155.3	8.0
Costs and expenses:
Cost of services and sales (exclusive of depreciation and amortization included below)	$ 41.6	$ 3.8	$ 71.4	$ 4.8

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended		6 Months Ended		7 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Jul. 31, 2025
Cash flows from operating activities:
Net (loss) income	$ (155.9)	$ (10.7)	$ (226.2)	$ 1.5
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	305.9	79.6	595.7	159.3
Amortization of deferred financing costs, debt discount and premium	4.7	5.3	5.4	10.8
(Gain) loss on extinguishment of debt	0.0	32.0	(1.2)	40.5
Deferred income taxes			(0.6)	(8.5)
Straight-line revenues and amortization of below-market lease intangibles			(2.9)	(11.7)
Stock-based compensation	7.5	3.5	15.1	7.3
Provision for estimated credit losses			29.8	0.4
Other, net			8.2	3.5
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable			(58.6)	10.3
Inventories			15.1	0.0
Prepaid expenses			(16.9)	(2.9)
Other current assets			3.9	2.7
Other assets			(39.2)	0.3
Accounts payable			4.6	(4.5)
Accrued interest			9.9	(10.7)
Accrued taxes			14.1	4.3
Deferred revenue			16.5	(0.6)
Other current liabilities			(53.9)	(2.8)
Other liabilities			(16.4)	(0.5)
Noncurrent deferred revenue			22.7	(16.1)
Operating lease assets and lease obligations			1.3	1.0
Other, net			13.0	0.0
Net cash provided from operating activities			339.4	183.6
Cash flows from investing activities:
Capital expenditures			(799.2)	(246.2)
Capital expenditures funded by government grants			(34.8)	0.0
Grant funds received for broadband expansion			11.9	0.0
Proceeds from sale of assets			3.5	0.6
Net cash used in investing activities			(818.6)	(245.6)
Cash flows from financing activities:
Proceeds from issuance of debt			2,072.6	1,229.0
Repayments of debt			(930.0)	(940.0)
Payments of settlement obligation			0.0	(49.0)	$ (73.5)
Payments for financing costs			(39.7)	(59.1)
Payment of preferred stock dividends			(16.7)	0.0
Other, net			(8.4)	(4.1)
Net cash provided from financing activities			1,077.8	176.8
Net increase in cash, restricted cash and cash equivalents			598.6	114.8
Cash, restricted cash and cash equivalents at beginning of period			134.1	183.8	$ 183.8
Cash, restricted cash and cash equivalents at end of period	$ 732.7	$ 298.6	$ 732.7	$ 298.6

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 608.9	$ 53.5
Restricted cash	123.8	80.6
Accounts receivable, net	387.1	359.0
Inventories	34.0	44.0
Prepaid expenses	154.5	137.6
Other current assets	177.2	156.3
Total current assets	1,485.5	831.0
Goodwill	1,158.5	1,158.3
Intangible assets, net	1,137.1	1,293.3
Property, plant and equipment, net	8,585.7	8,141.9
Operating lease right-of-use assets, net	478.6	516.6
Other assets	135.5	95.6
Total assets	12,980.9	12,036.7
Current liabilities:
Current portion of notes and other debt	10.0	10.0
Accounts payable	177.7	171.5
Deferred revenue	256.3	239.8
Current portion of operating lease obligations	117.4	122.6
Accrued taxes	65.8	51.8
Accrued interest	148.4	138.8
Other current liabilities	439.8	389.4
Total current liabilities	1,215.4	1,123.9
Notes and other debt, net	10,636.6	9,529.4
Noncurrent operating lease obligations	329.1	360.5
Noncurrent deferred revenue	390.0	368.7
Deferred income taxes, net	17.1	17.7
Other liabilities	231.2	256.1
Total liabilities	12,819.4	11,656.3
Commitments and contingencies (Note 13)
Shareholders' equity:
Preferred stock, $0.0001 par value, 0.6 million shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	0.0	0.0
Common stock, $0.0001 par value, 5,550.0 million shares authorized, issued and outstanding 235.3 million and 234.0 million at June 30, 2026 and December 31, 2025, respectively	0.0	0.0
Additional paid-in capital	2,816.0	2,790.1
Accumulated other comprehensive income (loss)	10.8	(1.9)
Accumulated deficit	(2,665.3)	(2,407.9)
Total Uniti shareholders' equity	161.5	380.3
Noncontrolling interests	0.0	0.1
Total shareholders' equity	161.5	380.4
Total liabilities and shareholders' equity	$ 12,980.9	$ 12,036.7