Uniti Group

New business signed in the wholesale fiber unit hit a record, with about 2.2 million dollars in new monthly recurring revenue, nearly 30 percent above its previous best. Demand is coming straight from the giant cloud and AI companies that need more network capacity. Total company revenue reached 909.7 million dollars for the quarter.

Kinetic keeps setting records at home. Consumer fiber revenue grew 19 percent from a year ago, the company added roughly 38 thousand fiber customers, its best quarter ever, and it wired up 141 thousand new homes, also a record. Kinetic brought in 539 million dollars in revenue and is on track to reach three and a half million homes with fiber by 2029.

This company is losing serious money. It posted a net loss of 155.9 million dollars for the quarter, and its own full year outlook calls for a loss between 480 and 530 million dollars. Interest on its debt alone is expected to eat about 805 million dollars this year.

Uniti carries more than 10.6 billion dollars in debt against a company worth roughly 2 billion. It just raised 1.1 billion dollars by borrowing against its home fiber network at about a 6.2 percent interest rate, bringing total money raised this way to nearly 3 billion. Building fiber is expensive, and the borrowing leaves little room for error.