Technology
CLPS Incorporation Reports Financial Results for the First Half of Fiscal Year 2025
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1 year agoon
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HONG KONG, March 5, 2025 /PRNewswire/ — CLPS Incorporation (the “Company” or “CLPS”) (Nasdaq: CLPS), today announced its unaudited financial results for the six months ended December 31, 2024, or the first half of the Company’s fiscal year 2025.
This period marked significant progress for CLPS as we executed our dual-engine strategy of global expansion and industry diversification, balanced with disciplined organic growth. By broadening our geographic reach and penetrating new sectors, we reinforced our core IT services expertise while diversifying revenue streams. To drive sustainable growth, we intensified investments in proprietary product development by establishing the Company’s China Development Center (CDC) and Global Testing Center (GTC). These strategic hubs are dedicated to building technological edge and fostering ecosystem synergies, while leveraging standardized IT solutions to strengthen our competitive position. Ultimately, these efforts have bolstered our market standing and laid the groundwork for sustainable value creation across our global client base and shareholders.
First Half of Fiscal 2025 Highlights (all results compared to the six months ended December 31, 2023)
Revenue increased by 15.3% to $82.8 million from $71.8 million.Revenue generated outside of mainland China increased by 110.4% to $19.0 million from $9.0 million.Gross profit increased by 21.6% to $19.2 million from $15.8 million.Operating income was $0.2 million compared to an operating loss of $0.9 million.Net income was $0.2 million compared to a net loss of $1.0 million.Non-GAAP net income1 increased by 31.8% to $2.3 million from $1.7 million.Total number of employees was 3,642 compared to 3,516.Total number of clients was 277 compared to 225.
Mr. Raymond Lin, Chief Executive Officer of CLPS, commented, “Our financial and operational performance for the first half of fiscal year 2025 reflects our commitment to sustainable growth. We achieved meaningful improvements in both our top-line and bottom-line results, driven by our strategic initiatives and the successful execution of our growth plans.
“Internationally, revenue outside of mainland China surged 110.4% year-over-year, demonstrating the success of our investments in high-potential markets, particularly within the Asia Pacific (APAC) region. In North America, the U.S. experienced consistent growth, while initial revenue generation has begun in Canada. By leveraging key synergies from our global footprint, we effectively mitigated single-market exposure and reduced dependency on domestic operations, thereby strengthening our international market position and sustaining the expansion of our market reach.
“We are equally proud of the progress our subsidiary, JAJI Global Incorporation (JAJI), has made toward its Nasdaq IPO, a strategic milestone that will unlock value and amplify our global brand. This listing will allow JAJI to pursue focused growth strategies while maintaining strong strategic alignment with our core objectives.
“Innovation remains central to our client value proposition. Our five core engines, including AI, low-code platforms, RPA, cloud computing, and big data—are powering transformative initiatives. We build solutions that create a cycle of growth for our clients’ specific needs, helping them cut costs and enhance efficiency. Supporting this effort, we established the CLPS AI Innovation Committee, a dedicated team tasked with advancing our AI application initiatives and ensuring we remain at the forefront of technological advancements. A standout example of our innovation in action is the launch of our next-generation RPA product, Nibot, which is already gaining market traction and revolutionizing automation for businesses seeking to streamline operations, enhance productivity, and improve resource allocation.
“We remain focused on our mission to deliver innovative, professional IT services that generate significant benefits for all of our stakeholders. This period has set a strong foundation for continued growth, and we are confident in our ability to capitalize on the opportunities ahead.”
Ms. Rui Yang, Chief Financial Officer of CLPS, said, “Our financial performance for the first half of fiscal year 2025 underscores our commitment to delivering shareholder value and maintaining a robust financial position.
“Despite navigating a complex and challenging macroeconomic environment, we are proud to have delivered improved financial results. Revenue grew by 15.3% year-over-year, and gross margin expanded to 23.1%, up from 21.9% in the prior year period. Notably, we achieved a turnaround in profitability, reporting a net income of $0.2 million compared to a net loss of $1.0 million in the prior year period.
“In November 2024, we distributed a special cash dividend of $0.13 per share, reflecting our confidence in the Company’s financial stability and our dedication to rewarding shareholders.
“We will prioritize operational efficiency, optimize the return on our technological innovation investments, and upgrade our high-value business structure to secure steady financial results going forward.”
First Half of Fiscal Year 2025 Financial Results
Revenues
In the first half of fiscal 2025, revenues increased by $11.0 million, or 15.3%, to $82.8 million from $71.8 million in the prior year period. The increase was primarily due to the increased in revenue from IT consulting services.
Revenues by Service
Revenue from IT consulting services increased by $10.6 million, or 15.2%, to $80.1 million in the first half of fiscal year 2025 from $69.5 million in the prior year period. Revenue from IT consulting services accounted for 96.7% of total revenue compared to 96.8% in the prior year period. The increase was primarily due to a growth in client base and the successful execution of our global expansion strategy.Revenue from customized IT solution services decreased by $0.3 million, or 22.5%, to $0.9 million in the first half of fiscal year 2025 from $1.2 million in the prior year period. Revenue from customized IT solution services accounted for 1.1% of total revenue compared to 1.7% in the prior year period. The decrease was primarily due to some existing clients’ budget optimization efforts, which resulted in decreased demand.Revenue from academic education services was $1.1 million, as a result of the acquisition of College of Allied Educators Pte. Ltd.Revenue from other services decreased by $0.3 million, or 34.7%, to $0.7 million in the first half of fiscal year 2025 from $1.0 million in the prior year period. Revenue from other services accounted for 0.8% of total revenue compared to 1.5% in the prior year period. The decrease was primarily due to the decrease in revenue from IT product sales and head hunting services.
Revenues by Operational Areas
Revenue from the banking area increased by $4.9 million, or 17.0%, to $33.5 million in the first half of fiscal year 2025 from $28.6 million in the prior year period. Revenue from banking area accounted for 40.4% and 39.9% of total revenues in the first half of fiscal 2025 and 2024, respectively.Revenue from the wealth management area decreased by $3.2 million, or 17.3%, to $15.4 million in the first half of fiscal year 2025 from $18.6 million in the prior year period. Revenue from wealth management area accounted for 18.6% and 25.9% of total revenues in the first half of fiscal 2025 and 2024, respectively.Revenue from the e-Commerce area increased by $3.9 million, or 36.2%, to $14.9 million in the first half of fiscal year 2025 from $11.0 million in the prior year period. Revenue from e-Commerce area accounted for 18.0% and 15.3% of total revenues in the first half of fiscal 2025 and 2024, respectively.Revenue from the automotive area increased by $2.0 million, or 27.1%, to $9.2 million in the first half of fiscal year 2025 from $7.2 million in the prior year period. Revenue from automotive area accounted for 11.1% and 10.1% of total revenues in the first half of fiscal 2025 and 2024, respectively.
Revenues by Geography
Revenue generated outside of mainland China increased by 110.4% to $19.0 million in the first half of fiscal year 2025 from $9.0 million in the prior year period. The increase was primarily due to the strong operational performance in the APAC region, notably in Singapore and Hong Kong SAR.
Gross Profit and Gross Margin
Gross profit increased by $3.4 million, or 21.6%, to $19.2 million in the first half of fiscal 2025 compared to $15.8 million in the prior year period. Gross margin increased to 23.1% in the first half of fiscal 2025 compared to 21.9% in the prior year period. The increase was primarily due to an increase in total revenue and our efforts to control cost of revenue’s growth rate.
Operating Expenses
Selling and marketing expenses decreased by $0.2 million, or 10.0%, to $2.5 million in the first half of fiscal year 2025 from $2.7 million in the prior year period. As a percentage of total revenues, selling and marketing expenses decreased to 3.0% in the first half of fiscal 2025 compared to 3.8% in the prior year period. The decrease was primarily due to AI-driven automation, workforce optimization, and structural realignment, which reduced redundancies, targeted high-value tasks, and aligned resources with business goals, improving efficiency while lowering expenses.
Research and development expenses increased by $0.1 million, or 2.7%, to $3.3 million in the first half of fiscal year 2025 from $3.2 million in the prior year period. As a percentage of total revenues, research and development expenses decreased to 4.0% in the first half of fiscal 2025 compared to 4.5% in the prior year period. The increase was primarily due to the increased R&D personnel-related costs associated with the Company’s ongoing research and development initiatives in cutting-edge technologies and new projects, such as AI-generated content (AIGC), CAKU 2.0, Nibot and a new generation of loan system.
General and administrative expenses increased by $2.9 million, or 26.2%, to $14.1 million in the first half of fiscal year 2025 from $11.2 million in the prior year period. As a percentage of total revenues, general and administrative expenses increased to 17.1% in the first half of fiscal 2025 compared to 15.6% in the prior year period. The increase was primarily due to a higher G&A personnel-related costs linked to the establishment of our CDC and GTC, which support our efforts to capture the anticipated growth in demand for customized IT solution services.
Operating Income (Loss)
Operating income was $0.2 million in the first half of fiscal 2025 compared to $0.9 million operating loss in the same period of the previous year. Operating margin was 0.2% in the first half of fiscal 2025 compared to -1.3% in the prior year period.
Other Income and Expenses
Total other income, net of other expenses was $0.2 million in the first half of fiscal 2025 compared to $0.1 million total other income, net of other expenses in the prior year period.
Provision for Income Taxes
Provision for income taxes decreased by $0.07 million to $0.27 million in the first half of fiscal 2025 from $0.34 million in the same period of the previous year.
Net Income (Loss) and EPS
Net income was $0.2 million in the first half of fiscal 2025 compared to $1.0 million net loss in the prior year period.
Non-GAAP net income1 increased by $0.6 million, or 31.8%, to $2.3 million in the first half of fiscal year 2025 from $1.7 million in the prior year period.
Net loss attributable to CLPS Incorporation’s shareholders was $0.4 million, or $0.015 basic and diluted losses per share in the first half of fiscal 2025 compared to a net loss attributable to CLPS Incorporation’s shareholders of $1.5 million, or $0.06 basic and diluted losses per share in the prior year period.
Non-GAAP net income attributable to CLPS Incorporation’s shareholders2 was $1.7 million, or $0.06 basic and diluted earnings per share in the first half of fiscal 2025 compared to $1.2 million, or $0.05 basic and diluted earnings per share in the prior year period.
Cash Flow
As of December 31, 2024, the Company had cash and cash equivalents of $35.6 million compared to $29.1 million as of June 30, 2024.
Net cash provided by operating activities was approximately $7.1 million. Net cash used in investing activities was approximately $1.6 million. Net cash provided by financing activities was approximately $1.1 million. The effect of exchange rate change on cash was approximately negative $0.1 million. The Company believes that its current cash position and cash flow from operations are sufficient to meet its anticipated cash needs for at least the next 12 months.
Financial Outlook
For fiscal year 2025, the Company expects total sales growth to be in the range of approximately 12% to 17% and non-GAAP net income growth in the range of approximately 15% to 20% year-over-year.
This forecast reflects the Company’s current and preliminary views, which are subject to change and are subject to risks and uncertainties, including, but not limited to various risks and uncertainties facing the Company’s business and operations as identified in its public filings.
Exchange Rate
The balance sheet amounts with the exception of equity as of December 31, 2024, were translated at 7.2993 RMB to 1.00 USD compared to 7.2672 RMB to 1.00 USD as of June 30, 2024. The equity accounts were stated at their historical rate. The average translation rates applied to the income statements accounts for the periods ended December 31, 2024 and 2023 were 7.1767 RMB to 1.00 USD and 7.2347 RMB to 1.00 USD, respectively. The change in the value of the RMB relative to the U.S. dollar may affect our financial results reported in the U.S. dollar terms without giving effect to any underlying change in our business or results of operation.
About CLPS Incorporation
Headquartered in Hong Kong, CLPS Incorporation is a leading global information technology (“IT”) consulting and solutions service provider, primarily focused on serving global institutions in the banking, wealth management, e-commerce, and automotive sectors. As an IT services provider for a growing network of clients within the fintech and financial services industry, CLPS has expanded its business beyond core IT services, venturing into the loan, e-commerce, academic education, and tourism sectors. Through its diversified offerings, CLPS is committed to providing comprehensive services and solutions for its clients. The Company maintains 19 delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Xi’an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. The remaining 9 global centers are located in Hong Kong SAR, USA, Japan, Singapore, Malaysia, India, Philippines, Canada, and UAE. For further information regarding the Company, please visit: https://ir.clpsglobal.com/, or follow CLPS on Facebook, Instagram, LinkedIn, X (formerly Twitter), and YouTube.
Forward-Looking Statements
Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties related to the Company’s financial and operational performance in the first half of fiscal year 2025, its expectations of the Company’s future performance, its preliminary outlook and guidance offered in this presentation, as well as the risks and uncertainties described in the Company’s most recently filed SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
Use of Non-GAAP Financial Measures
The consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), except that the consolidated statement of changes in shareholders’ equity, consolidated statements of cash flows, and the detailed notes have not been presented. The Company uses non-GAAP cost of revenues, non-GAAP selling and marketing expenses, non-GAAP general and administrative expenses, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income, non-GAAP net income attributable to CLPS Incorporation’s shareholders, and basic and diluted non-GAAP net income per share, which are non-GAAP financial measures. Non-GAAP cost of revenues is cost of revenue excluding share-based compensation expenses. Non-GAAP selling and marketing expenses is selling and marketing expenses excluding share-based compensation expenses. Non-GAAP general and administrative expenses is general and administrative expenses excluding share-based compensation expenses. Non-GAAP operating income is operating income excluding share-based compensation expenses. Non-GAAP operating margin is non-GAAP operating income as a percentage of revenues. Non-GAAP net income is net income excluding share-based compensation expenses. Non-GAAP net income attributable to CLPS Incorporation’s shareholders is net income attributable to CLPS Incorporation’s shareholders excluding share-based compensation expenses. Basic and diluted non-GAAP net income per share is non-GAAP net income attributable to common shareholders divided by weighted average number of shares used in the calculation of basic and diluted net income per share. The Company believes that separate analysis and exclusion of the non-cash impact of share-based compensation expenses clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measure for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measure is useful supplemental information for investors and analysts to assess its operating performance without the effect of non-cash share-based compensation expenses, which have been and will continue to be significant recurring expenses in its business. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company’s net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP.
The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. The Company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Reconciliation of Non-GAAP and GAAP Results” near the end of this release.
Contact:
CLPS Incorporation
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com
1 Non-GAAP net income is a non-GAAP financial measure, which is defined as net income excluding share-based compensation expenses. Please refer to the section titled “Unaudited Reconciliation of Non-GAAP and GAAP Results” for details.
2 Non-GAAP net income attributable to CLPS Incorporation’s shareholders is a non-GAAP financial measure, which is defined as net income attributable to CLPS Incorporation’s shareholders excluding share-based compensation expenses. Please refer to the section titled “Unaudited Reconciliation of Non-GAAP and GAAP Results” for details.
CLPS INCORPORATION
CONSOLIDATED BALANCE SHEETS
(Amounts in U.S. dollars (“$”), except for number of shares)
As of
December 31,
2024
(Unaudited)
June 30,
2024
(Audited)
ASSETS
Current assets:
Cash and cash equivalents
35,626,137
29,116,431
Restricted cash
–
24,081
Short-term investments
1,643,691
2,100,000
Accounts receivable, net
40,394,147
38,779,209
Prepayments, deposits and other assets, net
4,285,476
4,497,578
Amounts due from related parties
4,899,451
3,559,109
Total Current Assets
$
86,848,902
$
78,076,408
Non-current assets:
Property and equipment, net
20,972,905
21,168,524
Intangible assets, net
2,067,127
2,254,372
Operating lease right-of-use assets
3,430,925
2,776,858
Goodwill
1,462,032
1,473,899
Long-term investments
692,385
613,807
Prepayments, deposits and other assets, net
1,005,886
594,603
Amounts due from related parties
2,270,249
2,374,298
Deferred tax assets, net
666,720
697,047
Total Assets
$
119,417,131
$
110,029,816
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Bank loans
$
27,949,778
$
23,232,856
Accounts payable
1,548,917
949,137
Accrued expenses and other current liabilities
397,767
799,495
Tax payables
1,906,938
2,351,615
Contract liabilities
3,015,923
1,139,001
Salaries and benefits payable
13,285,958
9,941,541
Operating lease liabilities
1,853,798
1,361,928
Amount due to related parties
20,324
20,230
Total Current Liabilities
$
49,979,403
$
39,795,803
Non-current liabilities:
Operating lease liabilities
1,846,777
1,638,243
Deferred tax liabilities
354,649
378,344
Unrecognized tax benefit
3,696,355
3,413,850
Other non-current liabilities
880,076
883,963
TOTAL LIABILITIES
$
56,757,260
$
46,110,203
Commitments and Contingencies
Shareholders’ Equity
Common stock, $0.0001 par value, 100,000,000 shares authorized;
27,986,235 shares issued and outstanding as of December 31,
2024; 25,640,056 shares issued and outstanding as of June 30, 2024
2,799
2,564
Additional paid-in capital
59,815,077
61,351,200
Statutory reserves
5,761,656
5,553,104
Accumulated deficit
(650,193)
(51,728)
Accumulated other comprehensive losses
(4,238,666)
(4,345,902)
Total CLPS Incorporation’s Shareholders’ Equity
60,690,673
62,509,238
Noncontrolling Interests
1,969,198
1,410,375
Total Shareholders’ Equity
62,659,871
63,919,613
Total Liabilities and Shareholders’ Equity
$
119,417,131
$
110,029,816
CLPS INCORPORATION
UNAUDITED CONSOLIDATED STATEMENT
OF INCOME AND COMPREHENSIVE INCOME
(Amounts in U.S. dollars (“$”), except for number of shares)
For the six months ended
December 31,
2024
2023
Revenues
$
82,777,520
$
71,774,201
Less: Cost of revenues (note 1)
(63,622,547)
(56,024,043)
Gross profit
19,154,973
15,750,158
Operating income (expenses):
Selling and marketing expenses (note 1)
2,452,957
2,724,226
Research and development expenses
3,281,877
3,194,918
General and administrative expenses (note 1)
14,115,055
11,184,626
Subsidies and other operating income
(853,986)
(437,598)
Total operating expenses
18,995,903
16,666,172
Income (loss) from operations
159,070
(916,014)
Other income
585,266
308,017
Other expenses
(371,032)
(198,043)
Income (loss) before income tax and share of income (loss) in equity
investees
373,304
(806,040)
Provision for income taxes
267,790
337,563
Income (loss) before share of income in equity investees
105,514
(1,143,603)
Share of income in equity investees, net of tax
77,505
150,148
Net income (loss)
183,019
(993,455)
Less: Net income attributable to noncontrolling interests
572,932
494,080
Net loss attributable to CLPS Incorporation’s shareholders
$
(389,913)
$
(1,487,535)
Other comprehensive income (loss)
Foreign currency translation income
$
93,127
$
905,532
Less: foreign currency translation (loss) income attributable to noncontrolling
interest
(14,109)
31,873
Other comprehensive income attributable to CLPS Incorporation’s
shareholders
$
107,236
$
873,659
Comprehensive loss attributable to
CLPS Incorporation’s shareholders
$
(282,677)
$
(613,876)
Comprehensive income attributable to noncontrolling interests
558,823
525,953
Comprehensive income (loss)
$
276,146
$
(87,923)
Basic loss per common share
$
(0.015)
$
(0.06)
Weighted average number of share outstanding – basic
26,859,936
24,814,349
Diluted loss per common share
$
(0.015)
$
(0.06)
Weighted average number of share outstanding – diluted
26,859,936
24,814,349
Note:
(1) Includes share-based compensation expenses as follows:
Cost of revenues
5,306
5,809
Selling and marketing expenses
89,652
192,947
General and administrative expenses
2,011,255
2,532,137
2,106,213
2,730,893
CLPS INCORPORATION
UNAUDITED RECONCILIATION OF NON-GAAP AND GAAP RESULTS
(Amounts in U.S. dollars (“$”), except for number of shares)
For the six months
ended December 31,
2024
2023
Cost of revenues
$
(63,622,547)
$
(56,024,043)
Less: share-based compensation expenses
(5,306)
(5,809)
Non-GAAP cost of revenues
$
(63,617,241)
$
(56,018,234)
Selling and marketing expenses
$
(2,452,957)
$
(2,724,226)
Less: share-based compensation expenses
(89,652)
(192,947)
Non-GAAP selling and marketing expenses
$
(2,363,305)
$
(2,531,279)
General and administrative expenses
$
(14,115,055)
$
(11,184,626)
Less: share-based compensation expenses
(2,011,255)
(2,532,137)
Non-GAAP general and administrative expenses
$
(12,103,800)
$
(8,652,489)
Operating income (loss)
$
159,070
$
(916,014)
Add: share-based compensation expenses
2,106,213
2,730,893
Non-GAAP operating income
$
2,265,283
$
1,814,879
Operating Margin
0.2
%
(1.3)
%
Add: share-based compensation expenses
2.5
%
3.8
%
Non-GAAP operating margin
2.7
%
2.5
%
Net income (loss)
$
183,019
$
(993,455)
Add: share-based compensation expenses
2,106,213
2,730,893
Non-GAAP net income
$
2,289,232
$
1,737,438
Net loss attributable to CLPS Incorporation’s shareholders
$
(389,913)
$
(1,487,535)
Add: share-based compensation expenses
2,106,213
2,730,893
Non-GAAP net income attributable to CLPS Incorporation’s
shareholders
$
1,716,300
$
1,243,358
Weighted average number of share outstanding used in computing GAAP
and non-GAAP basic earnings
26,859,936
24,814,349
GAAP basic loss per common share
$
(0.015)
$
(0.06)
Add: share-based compensation expenses
0.075
0.11
Non-GAAP basic earnings per common share
$
0.06
$
0.05
Weighted average number of share outstanding used in computing GAAP
diluted loss
26,859,936
24,814,349
Weighted average number of share outstanding used in computing non-
GAAP diluted earnings
27,343,717
24,814,477
GAAP diluted loss per common share
$
(0.015)
$
(0.06)
Add: share-based compensation expenses
0.075
0.11
Non-GAAP diluted earnings per common share
$
0.06
$
0.05
View original content:https://www.prnewswire.com/news-releases/clps-incorporation-reports-financial-results-for-the-first-half-of-fiscal-year-2025-302392950.html
SOURCE CLPS
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Currently in beta testing with select customers, Titan is scheduled for full commercial launch later this year. The platform consolidates content and analytics into a single, high-performance workspace that accelerates critical decision-making. Titan differentiates through an AI-Powered experience that enables anticipatory discovery, surfacing relevant patterns before users need to search, and helping teams translate upstream market signals into faster commercial and strategic actions.
“This new strategic direction for our upstream business will allow us to transform a core part of our business and deliver enhanced value to our customers,” said Dave Ernsberger, President, S&P Global Energy. “Backed by an innovative new AI-powered platform, Titan, that will fundamentally change how our upstream data is connected and delivered, we are taking a significant leap forward in how we serve global energy markets as the most trusted provider of data and insights. These new investments could not come at a more important time as the world navigates a challenging energy environment, powered by the data and insights we provide.”
Along with launching Titan, divesting these software assets will allow S&P Global Energy to focus on providing world class data and insights and pursue a channel-agnostic approach toward the distribution of its content. As part of this transaction, S&P Global Energy will continue to distribute its leading proprietary data through the divested geoscience and petroleum engineering workflow tools. The parties have also entered an agreement to expand their partnership through further data distribution and collaboration on building new AI models to transform upstream business use cases.
“Unconventional markets demand speed, scale and efficiency,” said Olivier Le Peuch, Chief Executive Officer, SLB. “This software portfolio is widely used by U.S. land operators in their daily workflows. By integrating these capabilities with our industrial-scale digital platforms and AI technologies we can serve customers across the full spectrum of subsurface and planning needs.”
SLB’s upstream energy sector tools and services are designed to deliver insights and manage data to meet diverse client needs across exploration, production, logistics, and midstream infrastructure including pipelines, storage terminals, and ports. The customers include national and international energy companies, and independents, along with midstream-downstream operating companies.
The transaction is subject to the satisfaction of customary conditions, including the receipt of regulatory approvals, and is expected to close in the second half of 2026 or early 2027. Terms of the transaction were not disclosed.
J.P. Morgan Securities LLC is acting as financial advisor to S&P Global. Ropes & Gray LLP is acting as legal advisor to S&P Global. Akin Gump Strauss Hauer & Feld LLP is acting as legal advisor to SLB.
Media Contacts:
Josh Goldstein
S&P Global Energy
+1 954-254-4900
josh.goldstein@spglobal.com
Orla O’Brien
S&P Global
+1 857-407-8559
orla.obrien@spglobal.com
About S&P Global Energy
At S&P Global Energy (formerly S&P Global Commodity Insights), our comprehensive view of global energy and commodities markets enables our customers to make superior decisions and create long-term, sustainable value. Our four core capabilities are: Platts for pricing and news; CERA for research and advisory; Horizons for energy expansion and sustainability solutions; and Events for industry collaboration.
S&P Global Energy is a division of S&P Global (NYSE: SPGI). S&P Global enables businesses, governments, and individuals with trusted data, expertise, and technology to make decisions with conviction. We are Advancing Essential Intelligence through world-leading benchmarks, data, and insights that customers need in order to plan confidently, act decisively, and thrive economically in a rapidly changing global landscape. Learn more at www.spglobal.com/energy.
About SLB
SLB is a global technology company that has driven energy innovation for 100 years. With a global presence in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition.
Forward-Looking Statements: This press release contains “forward-looking statements,” as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future events, trends, contingencies or results, appear at various places in this press release and use words like “anticipate,” “assume,” “believe,” “continue,” “estimate,” “expect,” “forecast,” “future,” “intend,” “plan,” “potential,” “predict,” “project,” “strategy,” “target” and similar terms, and future or conditional tense verbs like “could,” “may,” “might,” “should,” “will” and “would.” For example, management may use forward-looking statements when addressing topics such as: the outcome of contingencies; future actions by regulators; changes in the Company’s business strategies and methods of generating revenue; the development and performance of the Company’s services and products; the expected impact of acquisitions and dispositions; the Company’s effective tax rates; the Company’s cost structure, dividend policy, cash flows or liquidity; and the anticipated separation of S&P Global Mobility (“Mobility”) into a standalone public company.
Forward-looking statements are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include, among other things:
worldwide economic, financial, political, and regulatory conditions (including slower GDP growth or recession, restrictions on trade (e.g., tariffs), instability in the banking sector and inflation), and factors that contribute to uncertainty and volatility (e.g., supply chain risk), geopolitical uncertainty (including military conflict), natural and man-made disasters, civil unrest, public health crises (e.g., pandemics), and conditions that result from legislative, regulatory, trade and policy changes, including from the U.S. administration;the volatility and health of debt, equity, commodities, energy and automotive markets, including credit quality and spreads, the composition and mix of credit maturity profiles, the level of liquidity and future debt issuances, equity flows from active to passive, fluctuations in average asset prices in global equities, demand for investment products that track indices and assessments and trading volumes of certain exchange traded derivatives;the demand and market for credit ratings in and across the sectors and geographies where the Company operates;the Company’s ability to maintain adequate physical, technical and administrative safeguards to protect the security of confidential information and data, or protect against a system or network disruption that results in regulatory penalties and remedial costs or improper disclosure of confidential information or data;the outcome of litigation, government and regulatory proceedings, investigations and inquiries;concerns in the marketplace affecting the Company’s credibility or otherwise affecting market perceptions of the integrity or utility of independent credit ratings, benchmarks, indices and other services;the level of merger and acquisition activity in the United States and abroad;the level of the Company’s future cash flows and capital investments;the effect of competitive products (including those incorporating artificial intelligence (“AI”)) and pricing, including the level of success of new product developments and global expansion;the impact of customer cost-cutting pressures;a decline in the demand for our products and services by our customers and other market participants;our ability to develop new products or technologies, to integrate our products with new technologies (e.g., AI), or to compete with new products or technologies offered by new or existing competitors;the introduction of competing products (including those developed by AI) or technologies by other companies;our ability to protect our intellectual property from unauthorized use and infringement, including by others using AI technologies, and to operate our business without violating third-party intellectual property rights, including through our own use of AI in our products and services;our ability to attract, incentivize and retain key employees, especially in a competitive business environment;our ability to successfully navigate key organizational changes;the continuously evolving regulatory environment in Europe, the United States and elsewhere around the globe affecting each of our businesses and the products they offer, and our compliance therewith;the Company’s exposure to potential criminal sanctions or civil penalties for noncompliance with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which it operates, including sanctions laws relating to countries such as Iran, Russia and Venezuela, anti-corruption laws such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act of 2010, and local laws prohibiting corrupt payments to government officials, as well as import and export restrictions;the Company’s ability to make acquisitions and dispositions and successfully integrate the businesses we acquire;consolidation of the Company’s customers, suppliers or competitors;the ability of the Company, and its third-party service providers, to maintain adequate physical and technological infrastructure;the Company’s ability to successfully recover from a disaster or other business continuity problem, such as an earthquake, hurricane, flood, civil unrest, protests, military conflict, terrorist attack, outbreak of pandemic or contagious diseases, security breach, cyber attack, data breach, power loss, telecommunications failure or other natural or man-made event;the impact on the Company’s revenue and net income caused by fluctuations in foreign currency exchange rates;the impact of changes in applicable tax or accounting requirements on the Company;the separation of Mobility not being consummated within the anticipated time period or at all;the ability of the separation of Mobility to qualify for tax-free treatment for U.S. federal income tax purposes;any disruption to the Company’s business in connection with the proposed separation of Mobility;any loss of synergies from separating the businesses of Mobility and the Company that adversely impact the results of operations of both businesses, or the companies resulting from the separation of Mobility not realizing all of the expected benefits of the separation; andfollowing the separation of Mobility, the combined value of the common stock of the two publicly-traded companies not being equal to or greater than the value of the Company’s common stock had the separation not occurred.
The factors noted above are not exhaustive. The Company and its subsidiaries operate in a dynamic business environment in which new risks emerge frequently. Accordingly, the Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the dates on which they are made. The Company undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which it is made, except as required by applicable law. Further information about the Company’s businesses, including information about factors that could materially affect its results of operations and financial condition, is contained in the Company’s filings with the SEC, including Item 1A, Risk Factors in our most recently filed Annual Report on Form 10-K.
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SOURCE S&P Global
STAMFORD, Conn., April 24, 2026 /PRNewswire/ — Charter Communications, Inc. (along with its subsidiaries, the “Company” or “Charter”), which operates the Spectrum brand, today reported financial and operating results for the three months ended March 31, 2026.
First quarter Spectrum Mobile™ lines increased by 368,000 and by 1.8 million over the last twelve months. As of March 31, 2026, Charter served 12.1 million mobile lines.During the first quarter, Spectrum Internet® customers declined by 120,000. As of March 31, 2026, Charter served 29.6 million Internet customers.As of March 31, 2026, customer relationships totaled 31.7 million and connectivity customers totaled 30.5 million.First quarter revenue of $13.6 billion declined 1.0% year-over-year, primarily driven by lower residential video revenue. Residential connectivity revenue grew 0.9% year-over-year.Net income attributable to Charter shareholders totaled $1.2 billion in the first quarter. First quarter Adjusted EBITDA1 of $5.6 billion declined 2.2% year-over-year and declined 1.8% excluding transition expenses.First quarter capital expenditures totaled $2.9 billion and included $812 million of line extensions.First quarter net cash flows from operating activities totaled $4.3 billion versus $4.2 billion in the prior year.First quarter free cash flow1 of $1.4 billion decreased from $1.6 billion in the prior year, primarily due to higher capital expenditures, partly offset by higher operating cash flow.During the first quarter, Charter purchased 4.3 million shares of Charter Class A common stock for $963 million.
“We remain confident about our ability to win in the marketplace and grow over the longer term. That confidence is founded on our advanced network, our core operating strategy of delivering great products at great prices and our focus on increasing customer satisfaction,” said Chris Winfrey, President and CEO of Charter. “As we continue to improve our products, pricing, packaging, and service, and complete our rural and network initiatives, we are poised for improving customer and free cash flow growth.”
1.
Adjusted EBITDA and free cash flow are non-GAAP measures defined in the “Use of Adjusted EBITDA and Free Cash Flow Information” section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release.
Key Operating Results
Approximate as of
March 31, 2026 (c)
March 31, 2025 (c)
Y/Y Change
Footprint
Estimated Passings (d)
58,661
57,167
2.6 %
Customer Relationships (e)
Residential
29,452
29,914
(1.5) %
Small Business
2,231
2,246
(0.7) %
Total Customer Relationships
31,683
32,160
(1.5) %
Residential
(157)
(50)
(107)
Small Business
(6)
(4)
(2)
Total Customer Relationships Quarterly Net Additions
(163)
(54)
(109)
Total Customer Relationship Penetration of Estimated Passings (f)
54.0 %
56.3 %
(2.3) ppts
Monthly Residential Revenue per Residential Customer (g)
$ 118.44
$ 120.07
(1.4) %
Monthly Small Business Revenue per Small Business Customer (h)
$ 162.71
$ 161.31
0.9 %
Residential Customer Relationships Penetration (i)
One Product Penetration
47.7 %
48.9 %
(1.2) ppts
Two Product Penetration
34.8 %
33.4 %
1.4 ppts
Three or More Product Penetration
17.5 %
17.7 %
(0.2) ppts
Connectivity (j)
Residential
28,446
28,758
(1.1) %
Small Business
2,074
2,080
(0.3) %
Total Connectivity Customers
30,520
30,838
(1.0) %
Residential
(117)
(5)
(112)
Small Business
(3)
(2)
(1)
Total Connectivity Quarterly Net Additions
(120)
(7)
(113)
Internet
Residential
27,524
27,979
(1.6) %
Small Business
2,036
2,045
(0.5) %
Total Internet Customers
29,560
30,024
(1.5) %
Residential
(117)
(55)
(62)
Small Business
(3)
(4)
1
Total Internet Quarterly Net Additions
(120)
(59)
(61)
Mobile Lines (k)
Residential
11,714
10,031
16.8 %
Small Business
420
334
25.7 %
Total Mobile Lines
12,134
10,365
17.1 %
Residential
344
488
(144)
Small Business
24
19
5
Total Mobile Lines Quarterly Net Additions
368
507
(139)
Video (l)
Residential
12,021
12,160
(1.1) %
Small Business
524
551
(5.0) %
Total Video Customers
12,545
12,711
(1.3) %
Residential
(51)
(167)
116
Small Business
(9)
(14)
5
Total Video Quarterly Net Additions
(60)
(181)
121
Voice
Residential
4,665
5,372
(13.2) %
Small Business
1,207
1,234
(2.2) %
Total Voice Customers
5,872
6,606
(11.1) %
Mid-Market & Large Business (m)
Mid-Market & Large Business Primary Service Units (“PSUs”)
360
344
4.5 %
Mid-Market & Large Business Quarterly Net Additions
3
4
(1)
In thousands, except per customer and penetration data. See footnotes to unaudited summary of operating statistics on page 7 of the addendum of this news release. The footnotes contain important disclosures regarding the definitions used for these operating statistics. All percentages are calculated using whole numbers. Minor differences may exist due to rounding.
First quarter total Internet customers decreased by 120,000, compared to a decline of 59,000 during the first quarter of 2025. Spectrum Internet delivers the fastest Internet speeds1 in the nation. Spectrum is evolving its connectivity network to offer symmetrical and multi-gigabit Internet speeds across its entire footprint and has launched symmetrical Internet service in several markets. Spectrum expects to complete its network evolution initiative in 2027. Spectrum Advanced WiFi provides customers an optimized home network while providing greater control of connected devices with enhanced security and privacy. In February, Spectrum launched its Invincible WiFi™ product, a tri-band advanced WiFi 7 router that integrates 5G cellular and battery backup to keep customers seamlessly and fully connected during a power outage or network disruption. In the first quarter, Spectrum launched its $1,000 savings guarantee; customers signing up to Spectrum Internet and switching two or more mobile lines from Verizon, AT&T or T-Mobile are now guaranteed $1,000 of savings in their first year, or Spectrum will cover the difference.
During the first quarter of 2026, Charter added 368,000 total mobile lines, compared to growth of 507,000 during the first quarter of 2025. Spectrum Mobile offers the fastest overall speeds,2 with plans that include 5G access, do not require contracts and include taxes and fees in the price. Spectrum Mobile is central to Charter’s converged network strategy to provide customers a differentiated connectivity experience with highly competitive, simple data plans and pricing.
Total video customers decreased by 60,000 in the first quarter of 2026, compared to a decline of 181,000 in the first quarter of 2025, with the improvement driven by simplified pricing and packaging and benefits from the inclusion of programmers’ streaming applications in Spectrum’s expanded basic video packages. As of March 31, 2026, Charter had 12.5 million total video customers.
Spectrum TV Select video customers now receive up to approximately $120 per month (soon to be approximately $126 per month) of programmers’ streaming application retail value at no extra cost, including the ad-supported versions of Disney+, Hulu, ESPN Unlimited, HBO Max, Paramount+, Peacock, AMC+, ViX, Tennis Channel and Fox One, with Discovery+ launching soon. In October 2025, Spectrum unveiled the Spectrum App Store, an innovative digital marketplace where Spectrum TV customers can activate, manage and upgrade the streaming apps included with their video plans. The Spectrum App Store also allows Spectrum customers without a traditional TV package to purchase and manage streaming apps à la carte.
During the first quarter of 2026, total wireline voice customers declined by 174,000, compared to a decline of 278,000 in the first quarter of 2025. As of March 31, 2026, Charter had 5.9 million total wireline voice customers.
Charter continues to work with federal, state and local governments to bring Spectrum Internet to unserved and underserved communities. During the first quarter of 2026, Charter activated 89,000 subsidized rural passings. Within Charter’s subsidized rural footprint, total customer relationships increased by 41,000 in the first quarter of 2026.
1.
Fastest Speeds claim based on Broadband Download Speed among the top 5 national providers in Opensignal USA: Fixed Broadband Experience Report – May 2025. Based on Opensignal independent analysis of mean download speed.
2.
Fastest Wireless Speeds based on combined mean download speed results for 4G, 5G and Wi-Fi across converged users on the top 5 national providers in November 2025 report.
First Quarter Financial Results
(in millions)
Three Months Ended March 31,
2026
2025
% Change
Revenues:
Internet
$ 5,852
$ 5,930
(1.3) %
Mobile service
1,052
914
15.1 %
Connectivity
6,904
6,844
0.9 %
Video
3,252
3,580
(9.2) %
Voice
338
356
(5.0) %
Residential revenue
10,494
10,780
(2.7) %
Small business
1,090
1,088
0.2 %
Mid-market & large business
749
734
2.1 %
Commercial revenue
1,839
1,822
1.0 %
Advertising sales
358
340
5.3 %
Other
906
793
14.2 %
Total Revenues
$ 13,597
$ 13,735
(1.0) %
Net income attributable to Charter shareholders
$ 1,163
$ 1,217
(4.4) %
Net income attributable to Charter shareholders margin
8.6 %
8.9 %
Adjusted EBITDA1
$ 5,637
$ 5,763
(2.2) %
Adjusted EBITDA margin
41.5 %
42.0 %
Capital expenditures
$ 2,855
$ 2,399
19.0 %
Net cash flows from operating activities
$ 4,304
$ 4,236
1.6 %
Free cash flow1
$ 1,372
$ 1,564
(12.3) %
All percentages are calculated using whole numbers. Minor differences may exist due to rounding.
1.
Adjusted EBITDA and free cash flow are non-GAAP measures defined in the “Use of Adjusted EBITDA and Free Cash Flow Information” section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release.
Revenues
First quarter revenue decreased by 1.0% year-over-year to $13.6 billion, driven by lower residential video revenue partly due to costs allocated to programmer streaming applications and netted within video revenue and lower residential Internet revenue, partly offset by an increase in residential mobile service revenue and higher mobile device revenue. Excluding advertising sales revenue and costs allocated to programmer streaming applications and netted within video revenue, first quarter total revenue grew by 0.1% year-over-year.
Residential revenue totaled $10.5 billion in the first quarter, a decrease of 2.7% year-over-year, driven by a year-over-year decline in residential customers of 1.5% and a decrease in monthly residential revenue per residential customer of 1.4%.
First quarter 2026 monthly residential revenue per residential customer totaled $118.44, a decrease of 1.4% compared to the prior year period. The decline was driven by a higher mix of lower priced video packages within Charter’s video customer base, $218 million of costs allocated to programmer streaming applications and netted within video revenue versus $47 million in the prior year period and a decline in video customers during the last year, partly offset by promotional rate step-ups, rate adjustments and the growth of Spectrum Mobile. Excluding costs allocated to programmer streaming applications and netted within video revenue, monthly residential revenue per residential customer increased 0.3% compared to the prior year period.
Internet revenue declined 1.3% year-over-year to $5.9 billion, driven by a decline in Internet customers year-over year, partly offset by a favorable change in bundled revenue allocation year-over-year, promotional rate step-ups and rate adjustments.
First quarter mobile service revenue totaled $1.1 billion, an increase of 15.1% year-over-year, driven by mobile line growth and rate adjustments, partly offset by less favorable bundled revenue allocation year-over-year.
Video revenue totaled $3.3 billion in the first quarter, a decrease of 9.2% compared to the prior year period, driven by a higher mix of lower priced video packages within Charter’s video customer base, $218 million of costs allocated to programmer streaming applications and netted within video revenue versus $47 million in the prior year period, more unfavorable bundled revenue allocation year-over-year and a decline in video customers during the last year, partly offset by promotional rate step-ups and video rate adjustments that pass through programmer rate increases.
Voice revenue decreased by 5.0% year-over-year to $338 million, driven by a decline in wireline voice customers, partly offset by voice rate adjustments.
Commercial revenue increased by 1.0% year-over-year to $1.8 billion, driven by mid-market and large business revenue growth of 2.1% year-over-year and an increase in small business revenue of 0.2%. Mid-market and large business revenue excluding wholesale increased by 2.8% year-over-year, mostly reflecting PSU growth. The year-over-year increase in first quarter 2026 small business revenue was driven by a 0.9% increase year-over-year in monthly small business revenue per small business customer, mostly offset by a decline in small business customer relationships year-over-year.
First quarter advertising sales revenue of $358 million increased by 5.3% compared to the year-ago quarter, primarily driven by higher political revenue. Excluding political revenue in both periods, advertising sales revenue decreased by 3.4% year-over-year driven by lower linear advertising revenue, partly offset by higher streaming advertising revenue.
Other revenue totaled $906 million in the first quarter, an increase of 14.2% compared to the first quarter of 2025, primarily driven by higher mobile device sales.
Operating Costs and Expenses
First quarter total operating costs and expenses declined 0.2% year-over-year to $8.0 billion driven by lower programming costs, mostly offset by higher other costs of revenue.
First quarter programming costs decreased by $214 million, or 9.3% as compared to the first quarter of 2025, reflecting $218 million of costs allocated to programmer streaming applications and netted within video revenue versus $47 million in the prior year period, a higher mix of lower cost packages within Charter’s video customer base and fewer video customers, partly offset by contractual programming rate increases and renewals.
Other costs of revenue increased by $181 million, or 11.4% year-over-year, primarily driven by higher mobile service direct costs, higher mobile device sales and higher advertising sales costs given higher political revenue.
Field and technology operations expenses decreased by $24 million, or 1.8% year-over-year, primarily driven by lower labor expense.
Customer operations expenses decreased by $6 million, or 0.8% year-over-year, primarily due to a decrease in bad debt expense.
Marketing and residential sales expenses decreased by $30 million or 3.2% year-over-year, due to lower marketing and labor expenses.
Transition expenses represent incremental costs incurred to prepare for the integration of the previously announced Cox transaction.
Other expenses increased by $57 million, or 5.3% as compared to the first quarter of 2025, primarily due to one-time benefits of $75 million in the prior year period.
Net Income Attributable to Charter Shareholders
Net income attributable to Charter shareholders totaled $1.2 billion in the first quarter of 2026 and 2025, with lower Adjusted EBITDA and higher depreciation and amortization, partly offset by a decrease in other operating expenses due to a non-strategic asset impairment charge in the first quarter of 2025.
Net income per basic common share attributable to Charter shareholders totaled $9.27 in the first quarter of 2026 compared to $8.59 during the same period last year. The increase was primarily the result of a 11.4% decrease in basic weighted average common shares outstanding versus the prior year period, partly offset by the factors described above.
Adjusted EBITDA
First quarter Adjusted EBITDA of $5.6 billion declined by 2.2% year-over-year, reflecting a decline in revenue of 1.0%, partly offset by a decrease in operating costs and expenses of 0.2%. Excluding transition expenses, Adjusted EBITDA declined 1.8% year-over-year.
Capital Expenditures
Capital expenditures totaled $2.9 billion in the first quarter of 2026, an increase of $456 million compared to the first quarter of 2025 given timing of spend, with higher upgrade/rebuild (primarily network evolution) and CPE, partly offset by lower line extension spend.
Charter continues to expect full year 2026 capital expenditures, excluding impacts from the previously announced Cox transaction, to total approximately $11.4 billion. The actual amount of capital expenditures in 2026 will depend on a number of factors including, but not limited to, the pace of Charter’s network evolution and expansion initiatives, supply chain timing and growth rates in Charter’s residential and commercial businesses.
Cash Flow and Free Cash Flow
During the first quarter of 2026, net cash flows from operating activities totaled $4.3 billion, an increase from $4.2 billion in the prior year. The year-over-year increase was primarily due to a less unfavorable change in working capital, partly offset by lower Adjusted EBITDA and higher cash paid for interest.
Free cash flow in the first quarter of 2026 totaled $1.4 billion, a decrease of $192 million compared to the first quarter of 2025. The year-over-year decrease in free cash flow was driven by higher capital expenditures, partly offset by a less unfavorable change in accrued expenses related to capital expenditures and higher net cash flows from operating activities.
Liquidity & Financing
As of March 31, 2026, total principal amount of debt was $94.3 billion and Charter’s credit facilities provided approximately $4.6 billion of additional liquidity in excess of Charter’s $517 million cash position.
In January 2026, CCO Holdings, LLC (“CCO Holdings”) and CCO Holdings Capital Corp. jointly issued $1.75 billion aggregate principal amount of 7.000% senior notes due February 2033 at par and $1.25 billion aggregate principal amount of 7.375% senior notes due February 2036 at par. In February 2026, CCO Holdings and CCO Holdings Capital Corp. redeemed $750 million in aggregate principal amount of the outstanding 5.500% senior notes due 2026 and $2.25 billion in aggregate principal amount of the outstanding 5.125% senior notes due 2027.
Share Repurchases
During the three months ended March 31, 2026, Charter purchased 4.3 million shares of Charter Class A common stock for $963 million.
Webcast
Charter will host a webcast on Friday, April 24, 2026 at 8:30 a.m. Eastern Time (ET) related to the contents of this release.
The webcast can be accessed live via the Company’s investor relations website at ir.charter.com. Participants should go to the webcast link no later than 10 minutes prior to the start time to register. The webcast will be archived at ir.charter.com two hours after completion of the webcast.
Additional Information Available on Website
The information in this press release should be read in conjunction with the financial statements and footnotes contained in the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2026, which will be posted on the “Results & SEC Filings” section of the Company’s investor relations website at ir.charter.com, when it is filed with the Securities and Exchange Commission (the “SEC”). A slide presentation to accompany the conference call and a trending schedule containing historical customer and financial data will also be available in the “Results & SEC Filings” section.
Use of Adjusted EBITDA and Free Cash Flow Information
The Company uses certain measures that are not defined by U.S. generally accepted accounting principles (“GAAP”) to evaluate various aspects of its business. Adjusted EBITDA and free cash flow are non-GAAP financial measures and should be considered in addition to, not as a substitute for, net income attributable to Charter shareholders and net cash flows from operating activities reported in accordance with GAAP. These terms, as defined by Charter, may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA and free cash flow are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the Addendum to this release.
Adjusted EBITDA is defined as net income attributable to Charter shareholders plus net income attributable to noncontrolling interest, net interest expense, income taxes, depreciation and amortization, stock compensation expense, other income (expenses), net and other operating (income) expenses, net, such as special charges, merger and acquisition costs and (gain) loss on sale or retirement of assets. As such, it eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of the Company’s businesses as well as other non-cash or special items, and is unaffected by the Company’s capital structure or investment activities. However, this measure is limited in that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues and the cash cost of financing. These costs are evaluated through other financial measures.
Free cash flow is defined as net cash flows from operating activities, less capital expenditures and changes in accrued expenses related to capital expenditures.
Management and Charter’s board of directors use Adjusted EBITDA and free cash flow to assess Charter’s performance and its ability to service its debt, fund operations and make additional investments with internally generated funds. In addition, Adjusted EBITDA generally correlates to the leverage ratio calculation under the Company’s credit facilities or outstanding notes to determine compliance with the covenants contained in the facilities and notes (all such documents have been previously filed with the SEC). For the purpose of calculating compliance with leverage covenants, the Company uses Adjusted EBITDA, as presented, excluding certain expenses paid by its operating subsidiaries to other Charter entities. The Company’s debt covenants refer to these expenses as management fees, which were $366 million for both the three months ended March 31, 2026 and 2025.
About Charter
Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company with services available to nearly 59 million homes and small to large businesses across 41 states through its Spectrum brand. Founded in 1993, Charter has evolved from providing cable TV to streaming, and from high-speed Internet to a converged broadband, WiFi and mobile experience. Over the Spectrum Fiber Broadband Network and supported by our 100% U.S.-based employees, the Company offers Seamless Connectivity and Entertainment with Spectrum Internet®, Mobile, TV and Voice products.
More information about Charter can be found at corporate.charter.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects, both business and financial. Although we believe that our plans, intentions and expectations as reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under “Risk Factors” from time to time in our filings with the SEC. Many of the forward-looking statements contained in this communication may be identified by the use of forward-looking words such as “believe,” “future,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” “aim,” “on track,” “target,” “opportunity,” “tentative,” “positioning,” “designed,” “create,” “predict,” “project,” “initiatives,” “seek,” “would,” “could,” “continue,” “ongoing,” “upside,” “increases,” “grow,” “focused on” and “potential,” among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this communication are set forth in our annual report on Form 10-K, and in other reports or documents that we file from time to time with the SEC, and include, but are not limited to:
our ability to sustain and grow revenues and cash flow from operations by offering Internet, mobile, video, voice, advertising and other services to residential and commercial customers, to adequately meet the customer experience demands in our service areas and to maintain and grow our customer base, particularly in the face of increasingly aggressive competition, the need for innovation and the related capital expenditures;the impact of competition from other market participants, including but not limited to incumbent telephone companies, direct broadcast satellite (“DBS”) operators, wireless and satellite broadband and telephone providers, digital subscriber line (“DSL”) providers, fiber to the home providers and providers of video content over broadband Internet connections;general business conditions, unemployment levels and the level of activity in the housing sector and economic uncertainty or downturn;our ability to develop and deploy new products and technologies including consumer services and service platforms;any events that disrupt our networks, information systems or properties and impair our operating activities or our reputation;the effects of governmental regulation on our business including subsidies to consumers, subsidies and incentives for competitors, costs, disruptions and possible limitations on operating flexibility related to, and our ability to comply with, regulatory conditions applicable to us;our ability to procure necessary services and equipment from our vendors in a timely manner and at reasonable costs including in connection with our network evolution and rural construction initiatives;our ability to obtain programming at reasonable prices or to raise prices to offset, in whole or in part, the effects of higher programming costs (including retransmission consents and distribution requirements);the ability to hire and retain key personnel;the availability and access, in general, of funds to meet our debt obligations prior to or when they become due and to fund our operations and necessary capital expenditures, either through (i) cash on hand, (ii) free cash flow, or (iii) access to the capital or credit markets;our ability to comply with all covenants in our indentures and credit facilities, any violation of which, if not cured in a timely manner, could trigger a default of our other obligations under cross-default provisions;our ability to satisfy the conditions to consummate the Liberty Broadband Combination and/or the Cox Transactions and/or to consummate the Liberty Broadband Combination and/or the Cox Transactions in a timely manner or at all;the risks related to us being restricted in the operation of our business while the Liberty Broadband Merger Agreement and the Cox Communications Transaction Agreement are in effect;other risks related to the Liberty Broadband Combination as described in the definitive joint proxy statement/prospectus with respect to the Liberty Broadband Combination, filed by Charter on January 22, 2025, including the sections entitled “Risk Factors” and “Where You Can Find More Information” included therein; andother risks related to the Cox Transactions as described in the definitive proxy statement with respect to the Cox Transactions, filed by Charter on July 2, 2025, including the sections entitled “Risk Factors” and “Where You Can Find More Information” included therein.
All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. We are under no duty or obligation to update any of the forward-looking statements after the date of this communication.
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO GAAP MEASURES
(dollars in millions)
Three Months Ended
March 31,
Last Twelve Months Ended
March 31,
2026
2025
2026
2025
Net income attributable to Charter shareholders
$ 1,163
$ 1,217
$ 4,933
$ 5,194
Plus: Net income attributable to noncontrolling interest
200
192
787
788
Interest expense, net
1,256
1,241
5,057
5,154
Income tax expense
465
445
1,712
1,648
Depreciation and amortization
2,211
2,181
8,741
8,664
Stock compensation expense
203
222
654
659
Other, net
139
265
698
728
Adjusted EBITDA (a)
$ 5,637
$ 5,763
$ 22,582
$ 22,835
Net cash flows from operating activities
$ 4,304
$ 4,236
$ 16,145
$ 15,454
Less: Purchases of property, plant and equipment
(2,855)
(2,399)
(12,115)
(10,877)
Change in accrued expenses related to capital expenditures
(77)
(273)
782
886
Free cash flow (a)
$ 1,372
$ 1,564
$ 4,812
$ 5,463
The above schedule is presented in order to reconcile Adjusted EBITDA and free cash flow, non-GAAP measures, to the most directly comparable GAAP measures in accordance with Section 401(b) of the Sarbanes-Oxley Act.
UNAUDITED ALTERNATIVE PRESENTATION OF ADJUSTED EBITDA
(dollars in millions)
Three Months Ended March 31,
2026
2025
% Change
REVENUES:
Internet
$ 5,852
$ 5,930
(1.3) %
Mobile service
1,052
914
15.1 %
Connectivity
6,904
6,844
0.9 %
Video
3,252
3,580
(9.2) %
Voice
338
356
(5.0) %
Residential revenue
10,494
10,780
(2.7) %
Small business
1,090
1,088
0.2 %
Mid-market & large business
749
734
2.1 %
Commercial revenue
1,839
1,822
1.0 %
Advertising sales
358
340
5.3 %
Other
906
793
14.2 %
Total Revenues
13,597
13,735
(1.0) %
COSTS AND EXPENSES:
Programming
2,088
2,302
(9.3) %
Other costs of revenue
1,765
1,584
11.4 %
Field and technology operations
1,258
1,282
(1.8) %
Customer operations
766
772
(0.8) %
Marketing and residential sales
919
949
(3.2) %
Transition expenses
24
—
n/a
Other expense (b)
1,140
1,083
5.3 %
Total operating costs and expenses (b)
7,960
7,972
(0.2) %
Adjusted EBITDA (a)
$ 5,637
$ 5,763
(2.2) %
All percentages are calculated using whole numbers. Minor differences may exist due to rounding. See footnotes on page 7.
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(dollars in millions, except per share data)
Three Months Ended March 31,
2026
2025
REVENUES
$ 13,597
$ 13,735
COSTS AND EXPENSES:
Operating costs and expenses (exclusive of items shown separately below)
8,163
8,194
Depreciation and amortization
2,211
2,181
Other operating expenses, net
15
123
10,389
10,498
Income from operations
3,208
3,237
OTHER INCOME (EXPENSES):
Interest expense, net
(1,256)
(1,241)
Other expenses, net
(124)
(142)
(1,380)
(1,383)
Income before income taxes
1,828
1,854
Income tax expense
(465)
(445)
Consolidated net income
1,363
1,409
Less: Net income attributable to noncontrolling interests
(200)
(192)
Net income attributable to Charter shareholders
$ 1,163
$ 1,217
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CHARTER SHAREHOLDERS:
Basic
$ 9.27
$ 8.59
Diluted
$ 9.17
$ 8.42
Weighted average common shares outstanding, basic
125,488,486
141,591,396
Weighted average common shares outstanding, diluted
126,849,271
144,574,684
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(dollars in millions)
March 31,
December 31
2026
2025
ASSETS
(unaudited)
CURRENT ASSETS:
Cash and cash equivalents
$ 517
$ 477
Accounts receivable, net
3,510
3,680
Prepaid expenses and other current assets
933
987
Total current assets
4,960
5,144
INVESTMENT IN CABLE PROPERTIES:
Property, plant and equipment, net
47,198
46,444
Customer relationships, net
324
440
Franchises
67,471
67,471
Goodwill
29,710
29,710
Total investment in cable properties, net
144,703
144,065
OTHER NONCURRENT ASSETS
4,981
5,004
Total assets
$ 154,644
$ 154,213
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable, accrued and other current liabilities
$ 12,375
$ 12,556
Current portion of long-term debt
—
750
Total current liabilities
12,375
13,306
LONG-TERM DEBT
94,414
94,006
EQUIPMENT INSTALLMENT PLAN FINANCING FACILITY
1,596
1,447
DEFERRED INCOME TAXES
20,049
19,841
OTHER LONG-TERM LIABILITIES
5,140
5,094
SHAREHOLDERS’ EQUITY:
Controlling interest
16,385
16,054
Noncontrolling interests
4,685
4,465
Total shareholders’ equity
21,070
20,519
Total liabilities and shareholders’ equity
$ 154,644
$ 154,213
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
(dollars in millions)
Three Months Ended March 31,
2026
2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income
$ 1,363
$ 1,409
Adjustments to reconcile consolidated net income to net cash flows from operating activities:
Depreciation and amortization
2,211
2,181
Stock compensation expense
203
222
Noncash interest, net
6
8
Deferred income taxes
214
(27)
Other, net
126
233
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:
Accounts receivable
5
(48)
Prepaid expenses and other assets
7
(235)
Accounts payable, accrued liabilities and other
169
493
Net cash flows from operating activities
4,304
4,236
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment
(2,855)
(2,399)
Change in accrued expenses related to capital expenditures
(77)
(273)
Other, net
(42)
(132)
Net cash flows from investing activities
(2,974)
(2,804)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings of long-term debt
7,216
1,393
Borrowings of equipment installment plan financing facility
148
121
Repayments of long-term debt
(7,499)
(1,609)
Payments for debt issuance costs
(30)
—
Purchase of treasury stock
(1,026)
(802)
Proceeds from exercise of stock options
2
17
Purchase of noncontrolling interest
—
(20)
Distributions to noncontrolling interest
(2)
(3)
Other, net
(115)
(169)
Net cash flows from financing activities
(1,306)
(1,072)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH
24
360
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period
598
506
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period
$ 622
$ 866
CASH PAID FOR INTEREST
$ 1,067
$ 995
As of March 31, 2026, December 31, 2025, March 31, 2025 and December 31, 2024, cash, cash equivalents and restricted cash includes $105 million, $121 million, $70 million and $47 million of restricted cash included in prepaid expenses and other current assets in the consolidated balance sheets, respectively.
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED SUMMARY OF OPERATING STATISTICS
(in thousands, except per customer and penetration data)
Approximate as of
March 31,
2026 (c)
December 31,
2025 (c)
March 31,
2025 (c)
Footprint
Estimated Passings (d)
58,661
58,399
57,167
Customer Relationships (e)
Residential
29,452
29,609
29,914
Small Business
2,231
2,237
2,246
Total Customer Relationships
31,683
31,846
32,160
Residential
(157)
(125)
(50)
Small Business
(6)
(2)
(4)
Total Customer Relationships Quarterly Net Additions
(163)
(127)
(54)
Total Customer Relationship Penetration of Estimated Passings (f)
54.0 %
54.5 %
56.3 %
Monthly Residential Revenue per Residential Customer (g)
$ 118.44
$ 117.19
$ 120.07
Monthly Small Business Revenue per Small Business Customer (h)
$ 162.71
$ 159.85
$ 161.31
Residential Customer Relationships Penetration (i)
One Product Penetration
47.7 %
48.0 %
48.9 %
Two Product Penetration
34.8 %
34.5 %
33.4 %
Three or More Product Penetration
17.5 %
17.5 %
17.7 %
Connectivity (j)
Residential
28,446
28,563
28,758
Small Business
2,074
2,077
2,080
Total Connectivity Customers
30,520
30,640
30,838
Residential
(117)
(95)
(5)
Small Business
(3)
—
(2)
Total Connectivity Quarterly Net Additions
(120)
(95)
(7)
Internet
Residential
27,524
27,641
27,979
Small Business
2,036
2,039
2,045
Total Internet Customers
29,560
29,680
30,024
Residential
(117)
(119)
(55)
Small Business
(3)
—
(4)
Total Internet Quarterly Net Additions
(120)
(119)
(59)
Mobile Lines (k)
Residential
11,714
11,370
10,031
Small Business
420
396
334
Total Mobile Lines
12,134
11,766
10,365
Residential
344
406
488
Small Business
24
22
19
Total Mobile Lines Quarterly Net Additions
368
428
507
Video (l)
Residential
12,021
12,072
12,160
Small Business
524
533
551
Total Video Customers
12,545
12,605
12,711
Residential
(51)
49
(167)
Small Business
(9)
(5)
(14)
Total Video Quarterly Net Additions
(60)
44
(181)
Voice
Residential
4,665
4,832
5,372
Small Business
1,207
1,214
1,234
Total Voice Customers
5,872
6,046
6,606
Mid-Market & Large Business (m)
Mid-Market & Large Business Primary Service Units (“PSUs”)
360
357
344
Mid-Market & Large Business Quarterly Net Additions
3
3
4
See footnotes on page 7.
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED CAPITAL EXPENDITURES
(dollars in millions)
Three Months Ended March 31,
2026
2025
Customer premise equipment (n)
$ 668
$ 473
Scalable infrastructure (o)
310
293
Upgrade/rebuild (p)
675
395
Support capital (q)
390
360
Capital expenditures, excluding line extensions
2,043
1,521
Subsidized rural construction line extensions
426
467
Other line extensions
386
411
Total line extensions (r)
812
878
Total capital expenditures
$ 2,855
$ 2,399
Capital expenditures included in total related to:
Commercial services
$ 286
$ 273
Subsidized rural construction initiative (s)
$ 427
$ 468
Mobile
$ 60
$ 53
See footnotes on page 7.
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
FOOTNOTES
(a)
Adjusted EBITDA is defined as net income attributable to Charter shareholders plus net income attributable to noncontrolling interest, net interest expense, income taxes, depreciation and amortization, stock compensation expense, other (income) expenses, net and other operating (income) expenses, net such as special charges, merger and acquisition costs and (gain) loss on sale or retirement of assets. As such, it eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of our businesses as well as other non-cash or special items, and is unaffected by our capital structure or investment activities. Free cash flow is defined as net cash flows from operating activities, less capital expenditures and changes in accrued expenses related to capital expenditures.
(b)
Other expense excludes stock compensation expense. Total operating costs and expenses excludes stock compensation expense, depreciation and amortization and other operating (income) expenses, net.
(c)
We calculate the aging of customer accounts based on the monthly billing cycle for each account in accordance with our collection policies. On that basis, at March 31, 2026, December 31, 2025 and March 31, 2025, customers included approximately 87,600, 82,300 and 92,200 customers, respectively, whose accounts were over 60 days past due, approximately 7,800, 9,700 and 10,700 customers, respectively, whose accounts were over 90 days past due and approximately 13,600, 13,600 and 17,000 customers, respectively, whose accounts were over 120 days past due.
(d)
Passings represent our estimate of the number of units, such as single family homes, apartment and condominium units and small business and mid-market & large business sites passed by our cable distribution network in the areas where we offer the service indicated. These estimates are based upon the information available at this time and are updated for all periods presented when new information becomes available.
(e)
Customer relationships include the number of customers that receive one or more levels of service, encompassing Internet, mobile, video and voice services, without regard to which service(s) such customers receive. Customers who reside in residential multiple dwelling units (“MDUs”) and that are billed under bulk contracts are counted based on the number of billed units within each bulk MDU. Total customer relationships exclude mid-market & large business customer relationships.
(f)
Penetration represents residential and small business customers as a percentage of estimated passings.
(g)
Monthly residential revenue per residential customer is calculated as total residential quarterly revenue divided by three divided by average residential customer relationships during the respective quarter.
(h)
Monthly small business revenue per small business customer is calculated as total small business quarterly revenue divided by three divided by average small business customer relationships during the respective quarter.
(i)
One product, two product and three or more product penetration represents the number of residential customers that subscribe to one product, two products or three or more products, respectively, as a percentage of residential customer relationships.
(j)
Connectivity customers represent all customers receiving our Internet and/or mobile connectivity services.
(k)
Mobile lines include phones and tablets which require one of our standard rate plans (e.g., “Unlimited” or “By the Gig”). Mobile lines exclude wearables and other devices that do not require standard phone rate plans.
(l)
Video customers only include customers that purchase Spectrum traditional or streaming linear video packages and exclude customers that only purchase streaming applications.
(m)
Mid-market & large business PSUs represents the aggregate number of fiber service offerings counting each separate service offering at each customer location as an individual PSU.
(n)
Customer premise equipment includes equipment and devices located at the customer’s premise used to deliver our Internet, video and voice services (e.g., modems, routers and set-top boxes), as well as installation costs.
(o)
Scalable infrastructure includes costs, not related to customer premise equipment or our network, to secure growth of new customers or provide service enhancements (e.g., headend equipment).
(p)
Upgrade/rebuild includes costs to modify or replace existing fiber/coaxial cable networks, including our network evolution initiative.
(q)
Support capital includes costs associated with the replacement or enhancement of non-network assets (e.g., back-office systems, non-network equipment, land and buildings, vehicles, tools and test equipment).
(r)
Line extensions include network costs associated with entering new service areas (e.g., fiber/coaxial cable, amplifiers, electronic equipment, make-ready and design engineering).
(s)
The subsidized rural construction initiative subcategory includes projects for which we are receiving subsidies from federal, state and local governments, excluding customer premise equipment and installation.
View original content to download multimedia:https://www.prnewswire.com/news-releases/charter-announces-first-quarter-2026-results-302752467.html
SOURCE Charter Communications, Inc.
Technology
KVB Futures Marks Its First Anniversary with Heartfelt CSR Initiative, Sharing Joy This Easter Season
Published
2 hours agoon
April 24, 2026By
JAKARTA, Indonesia, April 24, 2026 /PRNewswire/ — Marking its first anniversary, KVB Futures celebrates a year of growth and milestones by hosting its inaugural Corporate Social Responsibility (CSR) initiative under the #BetterTogether vision at Yayasan Pondok Kasih Mandiri, Jakarta. Held in conjunction with Easter, the initiative reflects the company’s commitment to creating meaningful connections with the community through activities such as Easter egg colouring, a communal meal, and a donation handover to the foundation’s children.
The event was attended by President Director Tonny Fong, alongside the Compliance Director and KVB staff, highlighting KVB Futures’ commitment at the leadership level to actively contribute to social impact initiatives and community development.
“At KVB Futures, we believe that meaningful impact begins with care. This initiative reflects our responsibility to support and give back to the community, and we hope to continue creating a positive and lasting difference through our actions.”
Tonny Fong, President Director of KVB Futures.
In celebration of this first anniversary milestone, KVB Futures also introduces its Loyalty Program as a form of appreciation for its loyal clients. The program is designed to reward clients for their continuous trading activities, where each transaction contributes to earning exclusive rewards. Through this initiative, clients are encouraged to grow together with KVB Futures while enjoying additional benefits beyond the trading experience. Rewards offered under the program range from international travel, motorcycles, gold, iPhones, to vouchers reflecting the company’s commitment to delivering tangible value to its clients.
Beyond business growth, this initiative marks the beginning of KVB Futures’ long-term commitment to community engagement and sustainable impact. The company aims to continue developing meaningful programs that not only strengthen relationships with the community but also reinforce its position as a trusted, responsible, and people-first brokerage in Indonesia.
About KVB Futures
PT KVB Futures is a fully regulated brokerage under BAPPEBTI, operating in accordance with applicable regulations of OJK and Bank Indonesia (BI), and is ISO-certified to ensure high standards of security and operational excellence.
KVB Futures offers multi-asset trading services, including foreign exchange, gold, silver, oil, global stock indices, and US stock CFDs. With its KVB app at the core, KVB Futures combines innovative technology and a client-first approach to deliver a seamless, reliable, and competitive trading experience in Indonesia.
KVB Futures Contact
+62 851-1701-0756 | brand@kvb.co.id
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/kvb-futures-marks-its-first-anniversary-with-heartfelt-csr-initiative-sharing-joy-this-easter-season-302752543.html
SOURCE KVB Futures
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