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10-K/A ·Filed Nov 6, 2026

OPTU

Optimum Communications, Inc.
BEARISH
Impact 7/10
Horizonmonths Processed4d 10h ago SEC0001702780-26-000071
Amended annual report (potential restatement)
Actionable Insight ▼ Bearish

Monitor the company's ability to refinance or restructure its ~$7.4B in 2027 debt maturities. Failure to secure committed funding by April 2026 could trigger a going concern liquidation. The material weakness in tax accounting raises the risk of further restatements or SEC enforcement.

DirectionBearish
Confidencehigh
Horizonmonths

How the stock moved after the report

⚠ Clustered BEARISH VIEWSTOCK ABOVE ENTRY AT T+1
Entry
$0.7521
T+0 close · Nov 6, 2026 · via day close
Latest settled
+6.38%
T+1 · $0.8001
vs SPY
+4.02%
α at T+1
Next horizon
T+5
in 3d
  1. T+0 · Nov 6 $0.7521entry
  2. T+1 · yesterday +6.38%α +4.02% · $0.8001
  3. T+2 · todayOpen
  4. T+5 · in 3d Pending
  5. T+20 · in 27d Pending
  6. T+60 · in 3mo Pending

Price Chart

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Executive Summary

Optimum Communications filed an amended 10-K/A to restate FY2025 financials due to an accounting error that understated deferred tax benefits by ~$430M. The restatement is non-cash and does not affect revenue, EBITDA, or cash flows. The filing also discloses a material weakness in internal controls over income tax accounting and substantial doubt about the company's ability to continue as a going concern due to ~$7.4B in debt maturing in 2027 with no committed refinancing.

Key Facts

  • Restatement corrects understated deferred tax benefits of ~$430M for FY2025 and 9mo 2025, and ~$720M for Q1-Q2 2026
  • Restatement is non-cash, no impact on revenue, EBITDA, or cash flows
  • Material weakness identified in internal control over financial reporting related to income tax accounting
  • Substantial doubt about ability to continue as a going concern due to ~$7.4B in debt maturing in 2027 without committed refinancing
  • FY2025 revenue declined 4.1% YoY to $8.59B; net loss attributable to stockholders was -$1.44B (restated)
  • Adjusted EBITDA declined 2.3% YoY to $3.34B
  • Free Cash Flow was -$118.8M vs +$149.4M in 2024
  • Total debt ~$26.2B at Dec 31, 2025; $7.4B matures in 2027
  • Indefinite-lived cable franchise rights impaired by $1.61B in Q3 2025
  • Auditor KPMG issued adverse opinion on internal controls
  • CEO and CFO certifications filed with the amendment

Financial Impact

Non-cash restatement reduces net loss by ~$430M for FY2025; going concern risk from ~$7.4B debt maturities in 2027

deferred tax liabilitynet lossaccumulated deficitstockholders' deficiency

Risk Factors

  • Substantial doubt about going concern if 2027 debt maturities cannot be refinanced
  • Material weakness in internal controls may lead to further accounting errors or restatements
  • Restatement may trigger securities class action litigation
  • High leverage and declining revenue/EBITDA constrain financial flexibility
  • Credit rating downgrades could increase borrowing costs and limit capital access

Market Snapshot

Exchange
NYSE
Sector
Cable & Other Pay Television Services
Analyst Consensus
5% bullish (19 analysts)

Investment Themes

Media & Telecom

Documents Analyzed

This report is based on 8 SEC documents filed with EDGAR.

DocumentAccession Number
10-K/A Filing (Primary)0001702780-26-000071
Exhibit: exhibit31210-kadec312025.htm0001702780-26-000071
Exhibit: exhibit31110-kadec312025.htm0001702780-26-000071
Exhibit: exhibit3210-kadec312025.htm0001702780-26-000071
Exhibit: exhibit231dec312025consent.htm0001702780-26-000071
Document: 0001702780-26-000071-index-headers.html0001702780-26-000071
Document: 0001702780-26-000071-index.html0001702780-26-000071
Document: 0001702780-26-000071.txt0001702780-26-000071

Track record

15 reports on OPTU

Performance horizon

2 of 3 bullish or bearish reports moved the stock their way by T+5. Best: +26.40% at T+20 after the Sep 21, 2026 report. 3 of 5 went positive at some point.

Filters
  1. Nov 6, 20264d ago 10-Q/A Bearish 7/10 Entry $0.7521 Now $0.7279 +3.22% settles Nov 13
  2. Nov 6, 20264d ago 10-Q/A / 10-K/A Bearish 6/10 Entry $0.7521 Now $0.7279 +3.22% settles Nov 13
  3. Nov 6, 20264d ago 10-K/A Bearish 7/10 Viewing Entry $0.7521 Now $0.7279 +3.22% settles Nov 13
  4. Nov 5, 20265d ago 3 Neutral 2/10 Entry $0.7521 Now $0.7279 −3.22% settles Nov 13
  5. Nov 5, 20265d ago 3 Neutral 1/10 Entry $0.7521 Now $0.7279 −3.22% settles Nov 13
  6. Nov 4, 20266d ago Institutional Cluster Neutral 3/10 Entry $0.6903 Now $0.7279 +5.45% settles Nov 11
  7. Nov 3, 20267d ago 8-K Neutral 3/10 Entry $0.6903 Now $0.7279 +5.45% settles Nov 11
  8. Oct 26, 202614d ago SC 13G/A Neutral 3/10 Entry $0.6075 to $0.6750 Now $0.7279 +19.82% ▲ +11.11% +13.10% vs SPY
  9. Oct 9, 20264w ago 3 Neutral 2/10 Entry $0.9690 to $0.9029 Now $0.7279 −24.88% ▼ −6.82% −5.33% vs SPY
  10. Oct 9, 20264w ago 3/A Neutral 2/10 Entry $0.9690 to $0.9030 Now $0.7279 −24.88% ▼ −6.81% −5.32% vs SPY
Showing 10 of 15

US Market Status

Market Closed · Opens Wed (< 1m)

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Report published Nov 6, 2026