Altice USA residential video RGUs down 64,300 in 4Q 2024

NEW YORK — Altice USA (NYSE: ATUS) today reports results for the fourth quarter and full year ended December 31, 2024.

Fourth Quarter and Full Year 2024 Key Operational Highlights

Highest Ever Fiber Net Additions, Reaching 538k Fiber Customers, a +58% Increase in Total Fiber Customers Compared to Y/E 2023

• Fiber customer growth accelerated in Q4 2024 and FY 2024 with +57k and +197k fiber net additions, respectively, representing Optimum’s best quarter and full year ever for fiber net adds
• Fiber network penetration reached 18.2% at the end of Q4 2024, up from 12.5% at the end of Q4 2023

Evolving Video Strategy To Align Products and Offerings With Customer Preferences

• Keeping the customer at the center of the conversation and providing options and flexibility that customers want by leveraging data-driven viewership insights to guide negotiations and optimize value
• Introduced new TV packages in 2024 — Entertainment TV, Extra TV, & Everything TV — which drive more value via mutually beneficial programming agreements, offer consumers more content flexibility and are available alongside a customer’s favorite streaming services via Optimum Stream
• Our new TV packages supported improvement in video gross add attachment rate[1] to ~20% in Q4 2024, up over 200 basis points quarter over quarter, inflecting on multi-year trends of declining video attachment rates
• FY 2024 video programming cost inflation per subscriber[2] improved over the last two years to ~4% in FY 2024, a marked improvement from the average cost inflation of 6-8% in the years prior.

Total Broadband Primary Service Units (PSUs) Net Losses of -39k in Q4 2024 and -170k in FY 2024

• Broadband net losses were -39k in Q4 2024, compared to -27k in Q4 2023, and -170k in FY 2024, compared to -114k in FY 2023
• Performance was driven by continued low levels of switching activity, competitive pressures across our footprint, and muted trends in the income-constrained segment

1. Video gross add attachment rate represents the percent of total customer gross additions that subscribe to a video product.
2. Video programming cost inflation per subscriber is calculated as the change in total residential and SMB video programming costs divided by the average number of video subscribers.

Customer Metrics

Residential KPIs – Video – In thousands (unaudited)

                 Q1-22    Q2-22    Q3-22    Q4-22     2022
               -------  -------  -------  -------  -------
Total          2,658.7  2,574.2  2,491.8  2,439.0
Net additions   (73.6)   (84.5)   (82.4)   (52.8)  (293.2)

                 Q1-23    Q2-23    Q3-23    Q4-23     2023
               -------  -------  -------  -------  -------
Total          2,380.5  2,312.2  2,234.6  2,172.4
Net additions   (58.6)   (68.3)   (77.6)   (62.2)  (266.7)


                Q1-24    Q2-24    Q3-24    Q4-24      2024
               -------  -------  -------  -------  -------
Total          2,094.7  2,021.9  1,944.8  1,880.1
Net additions   (77.7)   (72.8)   (77.0)   (64.3)  (291.8)