Net Loss of $70.3 Million for the First Quarter
Consolidated Revenue and Adjusted EBITDA of $987.5 Million and $441.6 Million, Respectively, for the First Quarter
LITTLE ROCK, Ark., May 11, 2026 (GLOBE NEWSWIRE) -- Uniti Group Inc. ("Uniti" or the "Company") (NASDAQ:UNIT) today announced its results for the first quarter 2026.
Key highlights during the quarter on a pro forma basis included:
Consolidated Fiber Revenue Grew 15% Year-over-Year in the First Quarter
Fiber Infrastructure Fiber Revenue Grew 13% Year-over-Year in the First Quarter
Kinetic Consumer Fiber Revenue Grew 26% Year-over-Year in the First Quarter
Kinetic Consumer Fiber Gross Adds of ~39,000; Highest Ever on Record
Fiber Infrastructure New Bookings Monthly Recurring Revenue of $1.6 Million
"2026 is off to a great start at Uniti, fueled by the continued strong demand from hyperscalers and the significant progress we have made to-date on our fiber-to-the-home build. We saw consolidated revenue and Adjusted EBITDA year-over-year growth during the first quarter for the first time as a combined company, which is a significant first step in our goal to achieve full year year-over-year growth by 2027. We also had another strong quarter of new bookings at Fiber Infrastructure, the third highest quarter on record. At Kinetic, we had our highest number of consumer fiber gross adds ever and fiber churn was the best quarter on record. We also had the highest number of new consumer fiber premises constructed in almost four years and we remain on track to pass 3.5 million homes with fiber by the end of 2029. Finally, our balance sheet is as strong as it has ever been and we expect to be opportunistically active in the capital markets this year, including potentially pursuing additional asset securitizations," commented Kenny Gunderman, President and Chief Executive Officer of Uniti.
QUARTERLY RESULTS
Consolidated revenues for the first quarter of 2026 were $987.5 million. Consolidated net loss and Adjusted EBITDA were $70.3 million and $441.6 million, respectively, for the same period, achieving Adjusted EBITDA margins of approximately 45%.
Kinetic contributed $548.0 million of revenues and $235.5 million of contribution margin for the first quarter of 2026, achieving margins of approximately 43%. Kinetic's capital expenditures during the quarter were $251.9 million.
Fiber Infrastructure contributed $294.8 million of revenues and $192.7 million of contribution margin for the first quarter of 2026, achieving margins of approximately 65%. Fiber Infrastructure's capital expenditures during the quarter were $70.4 million and upfront payments received from customers were $152.4 million.
Uniti Solutions contributed $191.8 million of revenues and $95.8 million of contribution margin for the first quarter of 2026, achieving margins of approximately 50%. Uniti Solutions' capital expenditures during the quarter were $6.5 million.
FULL YEAR CONSOLIDATED 2026 OUTLOOK
The Company is updating its 2026 outlook primarily for business unit level revisions, and transaction related and other costs incurred to date. This outlook excludes any impact from other future acquisitions, capital market transactions, and future transaction-related and other costs not mentioned herein.
The Company's 2026 outlook is based on management's current expectations and beliefs but is subject to change as it continues the integration of Uniti and Windstream.
The Company's consolidated outlook for 2026 is as follows (in millions):
Full Year 2026
Revenue
$
3,605
to
$
3,655
Net loss
(450
)
to
(400
)
Adjusted EBITDA (1)
1,425
to
1,475
Interest expense, net
785
to
785
________________________
(1) See "Non-GAAP Financial Measures" below.
CONFERENCE CALL
Uniti will hold a conference call today to discuss this earnings release at 8:30 AM Eastern Time (7:30 AM Central Time). The conference call will be webcast live on Uniti's Investor Relations website at investor.uniti.com. Those parties interested in participating via telephone may register on the Company's Investor Relations website or by clicking here. A replay of the call will also be made available on the Investor Relations website.
ABOUT UNITI
Uniti (NASDAQ:UNIT) is a premier insurgent fiber provider dedicated to enabling mission-critical connectivity across the United States. We build, operate, and deliver fast and reliable communications services, empowering more than a million consumers and businesses in the digital economy. Our broad portfolio of services is offered through a suite of brands: Uniti Wholesale, Kinetic, Uniti Fiber, and Uniti Solutions. Visit us online at www.uniti.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions and management's current expectations with respect to the future, involve certain risks and uncertainties, and are not guarantees. These forward-looking statements include, but are not limited to, statements regarding Uniti's fiber build strategy, the businesses growth potential, and 2026 outlook. The words "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would," "predicts" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Uniti may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on the forward-looking statements. Future results may differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that Uniti makes. These forward-looking statements involve risks and uncertainties, known and unknown, that could cause events and results to differ materially from those in the forward-looking statements, including, without limitation: unanticipated difficulties or expenditures relating to the merger of Uniti and Windstream; competition and overbuilding in consumer service areas and general competition in business markets; risks related to the Company's indebtedness, which could reduce funds available for business purposes and operational flexibility; rapid changes in technology, which could affect its ability to compete; risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data; risks related to various forms of regulation from the Federal Communications Commission, state regulatory commissions and other government entities and effects of unfavorable legal proceedings, government investigations, and complex and changing laws; risks inherent in the communications industry and associated with general economic conditions; and additional risks set forth in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings with the U.S. Securities and Exchange Commission as well as the Company's predecessor's registration statement on Form S-4 dated February 12, 2025. The discussion of such risks is not an indication that any such risks have occurred at the time of this filing. Uniti does not assume any obligation to update any forward-looking statements.
NON-GAAP PRESENTATION
This release and today's conference call contain certain supplemental measures of performance that are not required by, or presented in accordance with, accounting principles generally accepted in the United States ("GAAP"). Such measures should not be considered as alternatives to GAAP. Further information with respect to and reconciliations of such measures to the nearest GAAP measure can be found herein.
Uniti Group Inc.Consolidated Balance Sheets(In millions, except per share data)
March 31,2026
December 31, 2025
Assets:
Current assets:
Cash and cash equivalents
$
982.6
$
53.5
Restricted cash
149.3
80.6
Accounts receivable, net
317.0
359.0
Inventories
43.8
44.0
Prepaid expenses
145.6
137.6
Other current assets
169.5
156.3
Total current assets
1,807.8
831.0
Goodwill
1,158.5
1,158.3
Intangible assets, net
1,212.6
1,293.3
Property, plant and equipment, net
8,319.2
8,141.9
Operating lease right-of-use assets, net
495.6
516.6
Other assets
117.7
95.6
Total assets
$
13,111.4
$
12,036.7
Liabilities and shareholders' equity
Current liabilities:
Current portion of notes and other debt
$
10.0
$
10.0
Accounts payable
187.3
171.5
Deferred revenue
262.6
239.8
Current portion of operating lease obligations
119.2
122.6
Accrued taxes
53.4
51.8
Accrued interest
186.8
138.8
Other current liabilities
353.9
389.4
Total current liabilities
1,173.2
1,123.9
Notes and other debt, net
10,636.6
9,529.4
Noncurrent operating lease obligations
342.9
360.5
Noncurrent deferred revenue
370.7
368.7
Deferred income taxes, net
17.9
17.7
Other liabilities
250.4
256.1
Total liabilities
12,791.7
11,656.3
Commitments and contingencies
Shareholders' equity:
Preferred stock, $0.0001 par value, 0.6 million shares issued and outstanding at March 31, 2026 and December 31, 2025
—
—
Common stock, $0.0001 par value, 5,550.0 million shares authorized, 235.0 million and 234.0 million issued and outstanding at March 31, 2026 and December 31, 2025, respectively
—
—
Additional paid-in capital
2,809.1
2,790.1
Accumulated other comprehensive income (loss)
4.3
(1.9
)
Accumulated deficit
(2,493.7
)
(2,407.9
)
Total Uniti shareholders' equity
319.7
