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Charter Announces Fourth Quarter and Full Year 2024 Results

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STAMFORD, Conn., Jan. 31, 2025 /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 and twelve months ended December 31, 2024.

Fourth quarter total Internet customers decreased by 177,000. As of December 31, 2024, Charter served 30.1 million Internet customers.Fourth quarter total mobile lines increased by 529,000. As of December 31, 2024, Charter served 9.9 million mobile lines, with 2.1 million mobile lines added in 2024.As of December 31, 2024, Charter had a total of 31.5 million customer relationships, excluding mobile-only relationships.Fourth quarter revenue of $13.9 billion grew by 1.6% year-over-year, driven by residential mobile service revenue growth of 37.4%, advertising sales revenue growth of 26.4%, other revenue growth of 14.6% and residential Internet revenue growth of 0.9%.Net income attributable to Charter shareholders totaled $1.5 billion in the fourth quarter. For the year ended December 31, 2024, net income attributable to Charter shareholders totaled $5.1 billion.Fourth quarter Adjusted EBITDA1 of $5.8 billion grew by 3.4% year-over-year.For the year ended December 31, 2024, revenue of $55.1 billion grew by 0.9% year-over-year. Full year 2024 Adjusted EBITDA totaled $22.6 billion, 3.1% higher than in 2023.For the year ended December 31, 2024, capital expenditures totaled $11.3 billion and included $4.2 billion of line extensions.Full year 2024 net cash flows from operating activities totaled $14.4 billion, in-line with the prior year.Full year 2024 free cash flow1 of $4.3 billion increased from $3.5 billion in the prior year, primarily due to higher Adjusted EBITDA and a favorable change in working capital excluding mobile devices, partly offset by higher cash interest and a non-recurring item in the first quarter of 2024.For the year ended December 31, 2024, Charter purchased 4.3 million shares of Charter Class A common stock and Charter Holdings common units for approximately $1.3 billion.

“Our multi-year investments in network evolution, expansion and execution are delivering tangible results,” said Chris Winfrey, President and CEO of Charter. “By having the best network, the best products and delivering customers the most value with unmatched service, we are well-positioned for customer and profitability growth and have clear visibility to free cash flow growth following this unique one-time investment cycle.”

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

December 31,
2024 (c)

December 31,
2023 (c)

Y/Y Change

Footprint

Estimated Passings (d)

56,861

55,322

2.8 %

Customer Relationships (e)

Residential

29,258

29,904

(2.2) %

Small and Medium Business (“SMB”)

2,215

2,222

(0.3) %

  Total Customer Relationships

31,473

32,126

(2.0) %

Residential

(207)

(108)

(99)

SMB

(8)

(2)

(6)

  Total Customer Relationships Quarterly Net Additions

(215)

(110)

(105)

Total Customer Relationship Penetration of Estimated Passings (f)

55.4 %

58.1 %

(2.7) ppts

Monthly Residential Revenue per Residential Customer (g)

$               121.40

$               119.41

1.7 %

Monthly SMB Revenue per SMB Customer (h)

$               163.14

$               162.38

0.5 %

Residential Customer Relationships Penetration

One Product Penetration (i)

47.6 %

46.7 %

0.9 ppts

Two Product Penetration (i)

33.9 %

33.1 %

0.8 ppts

Three or More Product Penetration (i)

18.5 %

20.2 %

(1.7) ppts

% Residential Non-Video Customer Relationships

57.9 %

54.8 %

3.1 ppts

Internet

Residential

28,034

28,544

(1.8) %

SMB

2,046

2,044

0.1 %

  Total Internet Customers

30,080

30,588

(1.7) %

Residential

(171)

(62)

(109)

SMB

(6)

1

(7)

  Total Internet Quarterly Net Additions

(177)

(61)

(116)

Video

Residential

12,327

13,503

(8.7) %

SMB

565

619

(8.7) %

  Total Video Customers

12,892

14,122

(8.7) %

Residential

(110)

(248)

138

SMB

(13)

(9)

(4)

  Total Video Quarterly Net Additions

(123)

(257)

134

Mobile Lines (j)

Residential

9,568

7,519

27.3 %

SMB

315

247

27.7 %

  Total Mobile Lines

9,883

7,766

27.3 %

Residential

511

532

(21)

SMB

18

14

4

  Total Mobile Lines Quarterly Net Additions

529

546

(17)

Voice

Residential

5,636

6,712

(16.0) %

SMB

1,248

1,293

(3.5) %

  Total Voice Customers

6,884

8,005

(14.0) %

Residential

(259)

(248)

(11)

SMB

(15)

(3)

(12)

  Total Voice Quarterly Net Additions

(274)

(251)

(23)

Enterprise (k)

Enterprise Primary Service Units (“PSUs”)

319

303

5.2 %

Enterprise Quarterly Net Additions

4

5

(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.

In September, Spectrum launched a new brand platform, Life Unlimited, which emphasizes the power of Spectrum’s advanced network and cutting-edge connectivity products and services to create opportunities and remove barriers to help customers live their best lives. As part of its new brand platform, Spectrum launched a new and simplified pricing and packaging strategy that better utilizes its seamless connectivity and entertainment products to offer lower promotional and persistent bundled pricing to drive growth. Additionally, Spectrum announced new customer commitments focused on reliable connectivity, transparency, exceptional service and a focus on always improving.

Fourth quarter total Internet customers decreased by 177,000, primarily driven by the end of the FCC’s Affordable Connectivity Program (“ACP”) in the second quarter and impacts of hurricanes in the fourth quarter, compared to a decline of 61,000 during the fourth quarter of 2023. 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 eight markets. In January 2025, Spectrum launched 2×1 Gbps service in two markets.  Unlike competitors, Spectrum upgrades its network for all households and can do so at a much lower cost. Spectrum Advanced WiFi, a managed WiFi service that provides customers an optimized home network while providing greater control of connected devices with enhanced security and privacy, is available to all Spectrum Internet customers.

Total video customers decreased by 123,000 in the fourth quarter of 2024, compared to a decline of 257,000 in the fourth quarter of 2023, with the improvement driven by new and simplified pricing and packaging launched in September. As of December 31, 2024, Charter had 12.9 million total video customers. Spectrum TV Select video customers will soon receive up to approximately $80 per month of programmers’ streaming application retail value at no extra cost, including the ad-supported versions of Max, Disney+, Peacock, Paramount+, ESPN+, AMC+, Discovery+, BET+, ViX, and Tennis Channel Plus. This programmer streaming application inclusion is part of Charter’s broader video evolution strategy to provide flexible packages with enhanced value, whether through full packages with seamless entertainment, smaller video packages, or a suite of a-la-carte programmer application options for broadband-only customers.

During the fourth quarter of 2024, Charter added 529,000 total mobile lines, compared to growth of 546,000 during the fourth quarter of 2023. Spectrum Mobile™ is available to all new and existing Spectrum Internet customers and 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 consumers a differentiated connectivity experience with highly competitive, simple data plans and pricing.

During the fourth quarter of 2024, total wireline voice customers declined by 274,000, compared to a decline of 251,000 in the fourth quarter of 2023. As of December 31, 2024, Charter had 6.9 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 fourth quarter of 2024, Charter activated 117,000 subsidized rural passings and 393,000 in 2024. Within Charter’s subsidized rural footprint, total customer relationships increased by 41,000 in the fourth quarter of 2024.

1.

Based on Broadband Download Speed nationally in Opensignal USA: Fixed Broadband Experience Report – National View, May 2024. Based on Opensignal independent analysis of mean download speed. © 2025 Opensignal Limited.

2.

Based on Charter’s analysis of Ookla® Speedtest Intelligence® data for overall mobile WiFi and Cellular performance for 1Q24 in Charter’s footprint.

 

Fourth Quarter Financial Results

(in millions)

Three Months Ended December 31,

2024

2023

% Change

Revenues:

Internet

$      5,856

$      5,805

0.9 %

Video

3,616

3,905

(7.4) %

Mobile service

860

626

37.4 %

Voice

353

393

(10.4) %

Residential revenue

10,685

10,729

(0.4) %

Small and medium business

1,086

1,083

0.3 %

Enterprise

731

700

4.4 %

Commercial revenue

1,817

1,783

1.9 %

Advertising sales

540

428

26.4 %

Other

884

771

14.6 %

Total Revenues

$    13,926

$    13,711

1.6 %

Net income attributable to Charter shareholders

$      1,466

$      1,058

38.6 %

Net income attributable to Charter shareholders margin

10.5 %

7.7 %

Adjusted EBITDA1

$      5,760

$      5,573

3.4 %

Adjusted EBITDA margin

41.4 %

40.6 %

Capital Expenditures

$      3,062

$      2,856

7.2 %

Net cash flows from operating activities

$      3,460

$      3,855

(10.2) %

Free cash flow1

$         984

$      1,061

(7.3) %

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

Fourth quarter revenue increased by 1.6% year-over-year to $13.9 billion, driven by growth in residential mobile service, advertising, other and residential Internet revenues, partly offset by lower residential video revenue and $37 million of total customer credits related to hurricanes Helene and Milton.

Residential revenue totaled $10.7 billion in the fourth quarter, a decrease of 0.4% year-over-year.

Fourth quarter 2024 monthly residential revenue per residential customer totaled $121.40, and increased by 1.7% compared to the prior year period. The growth was driven by promotional rate step-ups, rate adjustments and the growth of Spectrum Mobile, partly offset by a lower mix of video customer relationships, a higher mix of lower priced video packages within Charter’s video customer base, $37 million of costs which accounting principles require be allocated to programmer streaming applications and netted within video revenue and $34 million of residential customer credits related to hurricanes Helene and Milton.

Internet revenue grew by 0.9% year-over-year to $5.9 billion, driven by promotional rate step-ups and rate adjustments, partly offset a decline in Internet customers during the last year and customer credits related to hurricanes Helene and Milton.

Video revenue totaled $3.6 billion in the fourth quarter, a decrease of 7.4% compared to the prior year period, driven by a decline in video customers during the last year, a higher mix of lower priced video packages within Charter’s video customer base and $37 million of costs which accounting principles require be allocated to programmer streaming applications and netted within video revenue, partly offset by promotional rate step-ups and video rate adjustments that pass through programmer rate increases.

Fourth quarter mobile service revenue totaled $860 million, an increase of 37.4% year-over-year, driven by mobile line growth and mobile service revenue per line growth.

Voice revenue decreased by 10.4% year-over-year to $353 million, driven by a decline in wireline voice customers over the last twelve months, partly offset by voice rate adjustments.

Commercial revenue increased by 1.9% year-over-year to $1.8 billion, driven by enterprise and SMB revenue growth of 4.4% and 0.3% year-over-year, respectively. The year-over-year increase in fourth quarter 2024 SMB revenue was driven by higher monthly SMB revenue per SMB customer, primarily due to rate adjustments. Enterprise revenue excluding wholesale increased by 5.2% year-over-year, mostly reflecting PSU growth.

Fourth quarter advertising sales revenue of $540 million increased by 26.4% compared to the year-ago quarter, primarily driven by higher political revenue. Excluding political revenue in both periods, advertising sales revenue decreased by 8.2% year-over-year due to a more challenged local and national advertising market.

Other revenue totaled $884 million in the fourth quarter, an increase of 14.6% compared to the fourth quarter of 2023, primarily driven by higher mobile device sales.

Operating Costs and Expenses

Fourth quarter programming costs decreased by $229 million, or 9.1% as compared to the fourth quarter of 2023, reflecting fewer video customers, a higher mix of lower cost packages within Charter’s video customer base and $37 million of costs which accounting principles require be allocated to programmer streaming applications and netted within video revenue, partly offset by contractual programming rate increases and renewals. 

Other costs of revenue increased by $244 million, or 16.2% year-over-year, primarily driven by higher mobile device sales and mobile service direct costs, and higher advertising sales expense related to political revenue.

Field and technology operations increased by $11 million, or 0.9% year-over-year.

Customer operations decreased by $21 million, or 2.6% year-over-year, primarily due to lower labor costs.

Sales and marketing expenses increased by $30 million, or 3.2% year-over-year, given Spectrum’s continued focus on driving growth and the launch of its new brand platform, Life Unlimited.

Other expenses decreased by $7 million, or 0.7% as compared to the fourth quarter of 2023.

Net Income Attributable to Charter Shareholders

Net income attributable to Charter shareholders totaled $1.5 billion in the fourth quarter of 2024, compared to $1.1 billion in the fourth quarter of 2023, due to a larger pension remeasurement loss in the prior year period and higher Adjusted EBITDA.

Net income per basic common share attributable to Charter shareholders totaled $10.32 in the fourth quarter of 2024 compared to $7.23 during the same period last year. The increase was primarily the result of the factors described above in addition to a 2.9% decrease in basic weighted average common shares outstanding versus the prior year period.

Adjusted EBITDA

Fourth quarter Adjusted EBITDA of $5.8 billion grew by 3.4% year-over-year, reflecting growth in revenue and operating expenses of 1.6% and 0.3%, respectively.

Capital Expenditures

Capital expenditures totaled $3.1 billion in the fourth quarter of 2024, an increase of $206 million compared to the fourth quarter of 2023, driven by higher spend on line extensions, CPE (timing of equipment purchases) and scalable infrastructure. Line extensions capital expenditures totaled $1.1 billion in the fourth quarter of 2024, driven by Charter’s subsidized rural construction initiative and continued network expansion across residential and commercial greenfield and market fill-in opportunities.

Charter currently expects full year 2025 capital expenditures to total approximately $12 billion, including line extensions capital expenditures of approximately $4.2 billion and network evolution spend of approximately $1.5 billion. The actual amount of capital expenditures in 2025 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 fourth quarter of 2024, net cash flows from operating activities totaled $3.5 billion, a decrease from $3.9 billion in the prior year. The year-over-year decline was primarily driven by a more unfavorable change in working capital, higher cash taxes and cash interest, partly offset by higher Adjusted EBITDA.

Free cash flow in the fourth quarter of 2024 totaled $984 million, a decrease of $77 million compared to the fourth quarter of 2023. The year-over-year decline in free cash flow was primarily driven by lower net cash flows from operating activities and higher capital expenditures, partly offset by a more favorable change in accrued expenses related to capital expenditures.

Liquidity & Financing

As of December 31, 2024, total principal amount of debt was $93.8 billion and Charter’s credit facilities provided approximately $6.3 billion of additional liquidity in excess of Charter’s $459 million cash position.

On December 3, 2024, Charter announced that its subsidiary, Charter Communications Operating, LLC, had entered into an amendment to its existing Credit Agreement that extends the maturity date of a significant portion of debt due in 2027 to maturity dates in 2030 and 2031.

Share Repurchases

During the three months ended December 31, 2024, Charter purchased 292 thousand shares of Charter Class A common stock and Charter Holdings common units for $113 million.

Webcast

Charter will host a webcast on Friday, January 31, 2025 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 Annual Report on Form 10-K for the year ended December 31, 2024, 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 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 $375 million and $378 million for the three months ended December 31, 2024 and 2023, respectively, and $1.5 billion and $1.4 billion for the years ended December 31, 2024 and 2023, respectively.

About Charter

Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator with services available to an estimated 57 million homes and businesses in 41 states through its Spectrum brand. Over an advanced communications network, the Company offers a full range of state-of-the-art residential and business services including Spectrum Internet®, TV, Mobile and Voice.

For small and medium-sized companies, Spectrum Business® delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise® provides highly customized, fiber-based solutions. Spectrum Reach® delivers tailored advertising and production for the modern media landscape. The Company also distributes award-winning news coverage and sports programming to its customers through Spectrum Networks. 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,” “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, video, mobile, 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 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 to consummate the Liberty Broadband combination 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 is in effect; andother risks related to the Liberty Broadband combination as described in the definitive joint proxy statement/prospectus with respect to the combination, filed by Charter on January 22, 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
December 31,

Year Ended December 31,

2024

2023

2024

2023

Net income attributable to Charter shareholders

$             1,466

$             1,058

$             5,083

$             4,557

Plus:  Net income attributable to noncontrolling interest

210

171

770

704

  Interest expense, net

1,274

1,319

5,229

5,188

  Income tax expense

370

406

1,649

1,593

  Depreciation and amortization

2,168

2,188

8,673

8,696

  Stock compensation expense

138

152

651

692

  Other, net

134

279

514

464

Adjusted EBITDA (a)

$             5,760

$             5,573

$           22,569

$           21,894

Net cash flows from operating activities

$             3,460

$             3,855

$           14,430

$           14,433

Less:  Purchases of property, plant and equipment

(3,062)

(2,856)

(11,269)

(11,115)

  Change in accrued expenses related to capital expenditures

586

62

1,096

172

Free cash flow (a)

$                984

$             1,061

$             4,257

$             3,490

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 December 31,

Year Ended December 31,

2024

2023

% Change

2024

2023

% Change

REVENUES:

Internet

$             5,856

$             5,805

0.9 %

$           23,360

$           23,032

1.4 %

Video

3,616

3,905

(7.4) %

15,126

16,351

(7.5) %

Mobile service

860

626

37.4 %

3,083

2,243

37.5 %

Voice

353

393

(10.4) %

1,437

1,510

(4.9) %

  Residential revenue

10,685

10,729

(0.4) %

43,006

43,136

(0.3) %

Small and medium business

1,086

1,083

0.3 %

4,371

4,353

0.4 %

Enterprise

731

700

4.4 %

2,883

2,770

4.1 %

  Commercial revenue

1,817

1,783

1.9 %

7,254

7,123

1.8 %

Advertising sales

540

428

26.4 %

1,780

1,551

14.8 %

Other

884

771

14.6 %

3,045

2,797

8.8 %

  Total Revenues

13,926

13,711

1.6 %

55,085

54,607

0.9 %

COSTS AND EXPENSES:

Programming

2,275

2,504

(9.1) %

9,653

10,638

(9.3) %

Other costs of revenue

1,751

1,507

16.2 %

6,351

5,587

13.7 %

Field and technology operations (b)

1,302

1,291

0.9 %

5,083

5,113

(0.6) %

Customer operations (b)

797

818

(2.6) %

3,221

3,302

(2.4) %

Sales and marketing

930

900

3.2 %

3,714

3,653

1.7 %

Other expense (b)

1,111

1,118

(0.7) %

4,494

4,420

1.7 %

  Total operating costs and expenses (b)

8,166

8,138

0.3 %

32,516

32,713

(0.6) %

Adjusted EBITDA (a)

$             5,760

$             5,573

3.4 %

$           22,569

$           21,894

3.1 %

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
December 31,

Year Ended December 31,

2024

2023

2024

2023

REVENUES

$          13,926

$          13,711

$          55,085

$          54,607

COSTS AND EXPENSES:

Operating costs and expenses (exclusive of items shown separately below)

8,304

8,290

33,167

33,405

Depreciation and amortization

2,168

2,188

8,673

8,696

Other operating (income) expenses, net

65

(34)

127

(53)

10,537

10,444

41,967

42,048

  Income from operations

3,389

3,267

13,118

12,559

OTHER INCOME (EXPENSES):

Interest expense, net

(1,274)

(1,319)

(5,229)

(5,188)

Other expenses, net

(69)

(313)

(387)

(517)

(1,343)

(1,632)

(5,616)

(5,705)

Income before income taxes

2,046

1,635

7,502

6,854

Income tax expense

(370)

(406)

(1,649)

(1,593)

Consolidated net income

1,676

1,229

5,853

5,261

Less: Net income attributable to noncontrolling interests

(210)

(171)

(770)

(704)

Net income attributable to Charter shareholders

$            1,466

$            1,058

$            5,083

$            4,557

EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CHARTER
SHAREHOLDERS:

Basic

$            10.32

$              7.23

$            35.53

$            30.54

Diluted

$            10.10

$              7.07

$            34.97

$            29.99

Weighted average common shares outstanding, basic

142,115,129

146,356,269

143,061,337

149,208,188

Weighted average common shares outstanding, diluted

145,269,468

149,651,479

145,363,771

151,966,313

 

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 

CONDENSED CONSOLIDATED BALANCE SHEETS

(dollars in millions) 

December 31,

2024

2023

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$                     459

$                     709

Accounts receivable, net

3,097

2,965

Prepaid expenses and other current assets

677

458

Total current assets

4,233

4,132

INVESTMENT IN CABLE PROPERTIES:

Property, plant and equipment, net

42,913

39,520

Customer relationships, net

975

1,745

Franchises

67,462

67,396

Goodwill

29,674

29,668

Total investment in cable properties, net

141,024

138,329

OTHER NONCURRENT ASSETS

4,763

4,732

Total assets

$              150,020

$              147,193

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:

Accounts payable, accrued and other current liabilities

$                11,687

$                11,214

Current portion of long-term debt

1,799

2,000

Total current liabilities

13,486

13,214

LONG-TERM DEBT

92,134

95,777

EQUIPMENT INSTALLMENT PLAN FINANCING FACILITY

1,072

DEFERRED INCOME TAXES

18,845

18,954

OTHER LONG-TERM LIABILITIES

4,776

4,530

SHAREHOLDERS’ EQUITY:

Controlling interest

15,587

11,086

Noncontrolling interests

4,120

3,632

Total shareholders’ equity

19,707

14,718

Total liabilities and shareholders’ equity

$              150,020

$              147,193

 

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

(dollars in millions) 

Three Months Ended
December 31,

Year Ended December 31,

2024

2023

2024

2023

CASH FLOWS FROM OPERATING ACTIVITIES:

Consolidated net income

$            1,676

$            1,229

$            5,853

$            5,261

Adjustments to reconcile consolidated net income to net cash flows from
operating activities:

  Depreciation and amortization

2,168

2,188

8,673

8,696

  Stock compensation expense

138

152

651

692

  Noncash interest, net

9

7

34

20

  Deferred income taxes

(135)

(34)

(87)

(80)

  Other, net

90

79

354

291

Changes in operating assets and liabilities, net of effects from acquisitions
and dispositions:

  Accounts receivable

(30)

(33)

(129)

(44)

  Prepaid expenses and other assets

(72)

(38)

(609)

(572)

  Accounts payable, accrued liabilities and other

(384)

305

(310)

169

  Net cash flows from operating activities

3,460

3,855

14,430

14,433

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of property, plant and equipment

(3,062)

(2,856)

(11,269)

(11,115)

Change in accrued expenses related to capital expenditures

586

62

1,096

172

Other, net

(103)

150

(481)

(184)

Net cash flows from investing activities

(2,579)

(2,644)

(10,654)

(11,127)

CASH FLOWS FROM FINANCING ACTIVITIES:

Borrowings of long-term debt

8,505

7,471

25,893

22,062

Borrowings of equipment installment plan financing facility

74

1,074

Repayments of long-term debt

(9,761)

(7,553)

(29,660)

(21,938)

Payments for debt issuance costs

(29)

(14)

(56)

(32)

Purchase of treasury stock

(114)

(1,194)

(1,213)

(3,215)

Proceeds from exercise of stock options

3

1

32

22

Purchase of noncontrolling interest

(4)

(173)

(189)

(427)

Distributions to noncontrolling interest

(49)

(40)

(157)

(158)

Other, net

250

429

297

444

Net cash flows from financing activities

(1,125)

(1,073)

(3,979)

(3,242)

NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND
RESTRICTED CASH

(244)

138

(203)

64

CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period

750

571

709

645

CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period

$               506

$               709

$               506

$               709

CASH PAID FOR INTEREST

$            1,522

$            1,354

$            5,334

$            5,020

CASH PAID FOR TAXES

$               461

$               321

$            1,581

$            1,470

As of December 31, 2024, cash, cash equivalents and restricted cash includes $47 million of restricted cash included in prepaid expenses and other current assets in the consolidated balance sheets.

 

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 

UNAUDITED SUMMARY OF OPERATING STATISTICS

(in thousands, except per customer and penetration data)

Approximate as of

December 31,
2024(c)

September 30,
2024(c)

December 31,
2023 (c)

Footprint

Estimated Passings (d)

56,861

56,542

55,322

Customer Relationships (e)

Residential

29,258

29,465

29,904

SMB

2,215

2,223

2,222

  Total Customer Relationships

31,473

31,688

32,126

Residential

(207)

(150)

(108)

SMB

(8)

1

(2)

  Total Customer Relationships Quarterly Net Additions

(215)

(149)

(110)

Total Customer Relationship Penetration of Estimated Passings (f)

55.4 %

56.0 %

58.1 %

Monthly Residential Revenue per Residential Customer (g)

$        121.40

$        121.47

$        119.41

Monthly SMB Revenue per SMB Customer (h)

$        163.14

$        164.38

$        162.38

Residential Customer Relationships Penetration

One Product Penetration (i)

47.6 %

47.9 %

46.7 %

Two Product Penetration (i)

33.9 %

33.4 %

33.1 %

Three or More Product Penetration (i)

18.5 %

18.7 %

20.2 %

% Residential Non-Video Customer Relationships

57.9 %

57.8 %

54.8 %

Internet

Residential

28,034

28,205

28,544

SMB

2,046

2,052

2,044

  Total Internet Customers

30,080

30,257

30,588

Residential

(171)

(113)

(62)

SMB

(6)

3

1

  Total Internet Quarterly Net Additions

(177)

(110)

(61)

Video

Residential

12,327

12,437

13,503

SMB

565

578

619

  Total Video Customers

12,892

13,015

14,122

Residential

(110)

(281)

(248)

SMB

(13)

(13)

(9)

  Total Video Quarterly Net Additions

(123)

(294)

(257)

Mobile Lines (j)

Residential

9,568

9,057

7,519

SMB

315

297

247

  Total Mobile Lines

9,883

9,354

7,766

Residential

511

526

532

SMB

18

19

14

  Total Mobile Lines Quarterly Net Additions

529

545

546

Voice

Residential

5,636

5,895

6,712

SMB

1,248

1,263

1,293

  Total Voice Customers

6,884

7,158

8,005

Residential

(259)

(275)

(248)

SMB

(15)

(13)

(3)

  Total Voice Quarterly Net Additions

(274)

(288)

(251)

Enterprise (k)

Enterprise Primary Service Units (“PSUs”)

319

315

303

Enterprise Quarterly Net Additions

4

3

5

See footnotes on page 7.

 

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES

UNAUDITED CAPITAL EXPENDITURES

(dollars in millions) 

Three Months Ended
December 31,

Year Ended December 31,

2024

2023

2024

2023

Customer premise equipment (l)

$                575

$                514

$            2,172

$            2,286

Scalable infrastructure (m)

411

353

1,422

1,368

Upgrade/rebuild (n)

543

529

1,771

1,719

Support capital (o)

476

482

1,688

1,727

Capital expenditures, excluding line extensions

2,005

1,878

7,053

7,100

Subsidized rural construction line extensions

575

424

2,144

1,822

Other line extensions

482

554

2,072

2,193

Total line extensions (p)

1,057

978

4,216

4,015

Total capital expenditures

$             3,062

$             2,856

$          11,269

$          11,115

Capital expenditures included in total related to:

Commercial services

$                334

$                381

$            1,437

$            1,560

Subsidized rural construction initiative (q)

$                577

$                426

$            2,152

$            1,870

Mobile

$                  64

$                  79

$               245

$               314

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 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)

The previously reported “Costs to Service Customers” expense category has been separated between “Field and Technology Operations” and “Customer Operations” for all periods presented with the adoption of FASB’s Accounting Standards Update No. 2023-07, Improvements to Reportable Segment Disclosures. The new presentation does not result in any changes to total operating expenses or Adjusted EBITDA for any period presented.  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 December 31, 2024, September 30, 2024 and December 31, 2023, customers included approximately 102,500, 127,300 and 135,800 customers, respectively, whose accounts were over 60 days past due, approximately 12,100, 11,900 and 54,700 customers, respectively, whose accounts were over 90 days past due and approximately 13,600, 11,800 and 286,000 customers, respectively, whose accounts were over 120 days past due.  The decrease in accounts past due is predominately due to revisions to customer account balances associated with the end of the Federal Communications Commission’s Affordable Connectivity Program, including balance write-offs and conversion to payment plans. 

(d)

Passings represent our estimate of the number of units, such as single family homes, apartment and condominium units and SMB and enterprise 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.  In the fourth quarter of 2024, we completed a review of our passings which resulted in a net reduction of approximately 1.7 million passings for all periods presented.

(e)

Customer relationships include the number of customers that receive one or more levels of service, encompassing Internet, video, mobile 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 enterprise and mobile-only customer relationships.

(f)

Penetration represents residential and SMB customers as a percentage of estimated passings.  Penetration excludes mobile-only customers. 

(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 and excludes mobile-only customer relationships.

(h)

Monthly SMB revenue per SMB customer is calculated as total SMB quarterly revenue divided by three divided by average SMB customer relationships during the respective quarter and excludes mobile-only customer relationships.

(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, excluding mobile-only customers.

(j)

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.

(k)

Enterprise PSUs represents the aggregate number of fiber service offerings counting each separate service offering at each customer location as an individual PSU.

(l)

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.

(m)

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).

(n)

Upgrade/rebuild includes costs to modify or replace existing fiber/coaxial cable networks, including our network evolution initiative.

(o)

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).

(p)

Line extensions include network costs associated with entering new service areas (e.g., fiber/coaxial cable, amplifiers, electronic equipment, make-ready and design engineering).

(q)

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.

 

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SOURCE Charter Communications, Inc.

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Technology

BREAKTHROUGH PRIZE ANNOUNCES 2026 LAUREATES

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Six $3 Million Prizes Awarded for Outstanding Discoveries in Life Sciences, Fundamental Physics and Mathematics

Gene Therapies for Inherited Blindness, Sickle Cell Disease and Beta-Thalassemia

Discovery of Key Genetic Cause of ALS and Frontotemporal Dementia

Precision Measurement of Muon’s Magnetic Moment

Advances in Mathematics of Waves and Nonlinear Systems

Special Prize for Pioneer of Theory of Strong Nuclear Force

Breakthrough Prize in Life Sciences Awarded to Jean Bennett, Katherine A. High and Albert Maguire; Stuart H. Orkin and Swee Lay Thein; Rosa Rademakers and Bryan Traynor

Breakthrough Prize in Mathematics Awarded to Frank Merle

Breakthrough Prize in Fundamental Physics Awarded to Muon g-2 Collaborations at CERN, Brookhaven National Laboratory, and Fermilab

Special Breakthrough Prize in Fundamental Physics Awarded to David J. Gross

Inaugural Vera Rubin New Frontiers Prize Awarded to Carolina Figueiredo

Six New Horizons Prizes Awarded for Early-Career Achievements in Physics and Mathematics

Three Maryam Mirzakhani New Frontiers Prizes Awarded to Women Mathematicians for Early-Career Work

Laureates to be Celebrated Tonight at Breakthrough Prize Ceremony in Los Angeles

LOS ANGELES, April 19, 2026 /PRNewswire/ — The Breakthrough Prize Foundation today announced the winners of the 2026 Breakthrough Prizes, honoring scientists whose discoveries are significantly driving growth of human knowledge. In the Life Sciences, their work has led to gene therapies for three devastating diseases – inherited blindness, sickle cell disease and beta-thalassemia, and identified a key genetic cause of two more – ALS and frontotemporal dementia. In Physics and Mathematics, they have constructed theories of the fundamental forces of nature and probed them to mind-blowing precision, and revealed deep truths about the mathematical behavior of waves.

The Breakthrough Prizes – popularly known as the “Oscars® of Science” – were created to celebrate the wonders of our scientific age. Co-founded by Sergey Brin, Priscilla Chan and Mark Zuckerberg, Julia and Yuri Milner, and Anne Wojcicki, the prizes are now in their 14th year.

This year, six Breakthrough Prizes of $3 million each were awarded. In addition, the Foundation recognized 15 early-career physicists and mathematicians, who share six $100,000 New Horizons Prizes. Three women mathematicians recently completing PhDs each receives a $50,000 Maryam Mirzakhani New Frontiers Prize.

This year’s prize money totals $18.75 million, bringing the amount conferred over the 15 years of the Breakthrough Prize to more than $340 million.

“This year’s laureates show what great science can do — deepen our understanding of the world and lead to discoveries that improve millions of lives,” said Mark Zuckerberg and Dr. Priscilla Chan, founders of Biohub. “We’re proud to recognize their work.”

“The brilliant scientists who win the Breakthrough Prize,” said Yuri Milner, co-founder of Breakthrough Prize Foundation, “Are building a cathedral of knowledge on foundations laid down by the giants who came before them. We owe our civilization – and its future – to them.”

Breakthrough Prize in Life Sciences

Jean Bennett, Katherine A. High and Albert Maguire share the Breakthrough Prize in Life Sciences. This prize recognizes work that led to the first FDA–approved gene replacement therapy. It has transformed the lives of people born with Leber congenital amaurosis, a rare inherited retinal disease that usually results in total blindness in early adulthood, enabling children who had been going blind to gain their independence, attend regular schools, play outside at night, and in some cases even qualify for driver’s licenses. The therapy replaces the defective RPE65 gene, which produces a malfunctioning version of a protein critical to the visual cycle – the process by which the retina responds to light. The husband-and-wife team of molecular biologist Bennett and ophthalmic surgeon Maguire invented and developed the therapy from first conception to an effective treatment in animal models (including restoring sight to a number of Swedish Briard dogs which they went on to adopt). In 2005, High, a physician-scientist at Children’s Hospital of Philadelphia (CHOP) invited Bennett and Maguire to collaborate on a human trial. High’s laboratory and clinical gene therapy expertise proved crucial in the development of the approved drug, including gaining regulatory approval to conduct the initial clinical trials, and in directing the production and characterization of high-quality viral vector preparations used to introduce the replacement gene. The three physician-scientists worked together to design the pivotal trial, including developing and validating a novel clinical endpoint to measure the vector’s clinical effect.

Nearly all eligible Leber congenital amaurosis patients with RPE65 mutations in the United States have now been treated, and many others around the world are now gaining access to the therapy. The benefits have proved durable, with patients treated over a decade ago maintaining stable vision improvements. More broadly, this discovery demonstrated that the technology could work safely and effectively, establishing regulatory pathways and manufacturing approaches that opened the door to gene therapy approvals for a range of genetic diseases. Since their pioneering work, hundreds of trials, including over 100 retinal gene therapy trials have been conducted, with more than half a dozen currently in late-stage clinical testing.

Stuart H. Orkin and Swee Lay Thein share the Breakthrough Prize in Life Sciences. Their research transformed the devastating blood disorders sickle cell disease and beta-thalassemia from incurable to treatable conditions through gene editing therapy.

In beta-thalassemia the body fails to produce enough healthy hemoglobin; while in sickle cell disease, defective hemoglobin causes red blood cells to become stiff, sticky and sickle-shaped. But people who produce elevated levels of fetal form of hemoglobin as adults, rather than switching entirely to adult hemoglobin, have much milder forms of the diseases. This presented a tantalizing possibility for translational medicine: genetically switching fetal hemoglobin production back on, and so mitigating disease symptoms. Thein mapped the trait of persistent fetal hemoglobin production to chromosome 2, and subsequently identified the gene BCL11A as the key genetic player. Orkin demonstrated that BCL11A functions as the master repressor of fetal hemoglobin, shutting down its production after birth, and that inactivating it restored fetal hemoglobin production in mice and eliminated sickle cell disease symptoms. His laboratory identified a specific DNA enhancer region that controls BCL11A expression itself, but crucially only in red blood cells, providing a precise and safe target for therapeutic intervention without affecting other cells.

The translation of these discoveries into a CRISPR-based gene therapy (Casgevy) that edits this enhancer region in patients’ own blood stem cells resulted in the first CRISPR-based medicine approved for any disease. This work has revolutionized treatment for sickle cell disease and beta-thalassemia, providing a potentially curative one-time therapy for conditions affecting millions worldwide.

Rosa Rademakers and Bryan Traynor independently solved a decades-old mystery in neurodegenerative disease by discovering the most common genetic cause of both amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig’s disease, and frontotemporal dementia (FTD), the second leading cause of early-onset dementia. Through multi-year, international collaborations, they collected large-scale data from families where both ALS and FTD appeared together; and through painstaking genetic analysis they zeroed in on a key genetic trigger for both diseases. In 2011, their labs simultaneously identified a mutation in the C9orf72 gene. It is an expansion mutation – a repeat of the same six-letter sequence of DNA, occurring hundreds to thousands of times in affected individuals.

The discovery represents a landmark moment in the study of these diseases. This single mutation explains about a third of familial cases of both diseases in European populations, as well as more than five percent of cases in patients with no family history of the diseases. It sheds light on the disease mechanisms, pointing in particular to multiple effects of toxic RNA and proteins in brain cells. It has established ALS and FTD – previously considered two largely separate disorders – on a disease spectrum, sharing risk factors and molecular causes. And perhaps most significantly it has enabled genetic testing for affected families, and opened new pathways for the development of treatments for these currently incurable diseases – including at least two therapies currently undergoing clinical trials. While ALS and FTD remain incurable, thanks to the C9orf72 discovery they are now conditions with plausible molecular causes and promising therapeutic targets.

Breakthrough Prize in Mathematics

Frank Merle’s work has significantly advanced the modern understanding of nonlinear evolution equations – the mathematical descriptions of how waves, fluids, and other dynamic systems change over time. His work has a particular focus on singularities: points where solutions to the equations surge to infinity. Alone and in collaborations, he has solved several fundamental problems, including proving that certain equations long thought to be well-behaved actually “blow up” – become infinite – in finite time.

Working on the soliton resolution conjecture (which predicts that any wave disturbance will eventually decompose into a set of stable, shape-preserving waves), Merle and Carlos Kenig, joined later by Thomas Duyckaerts, developed the powerful channels of energy technique coupled with the concentration compactness method. With Yvan Martel and Pierre Raphael, he revealed how singularities form in the KdV type equation (which describes various wave phenomena from shallow waves to rogue waves). Perhaps most remarkable is his work on the nonlinear version of the famous Schrödinger equation from quantum physics. In early work, he made a complete classification of all the ways this equation’s solutions can blow up. Later he proved, with Pierre Raphael, Igor Rodnianski, and Jérémie Szeftel, that the defocusing version of the equation – long believed to be inherently stable – can in fact blow up in finite time. This highly surprising result exploited an unexpected connection to fluid dynamics: it helped to resolve a major open problem, identifying smooth solutions to the compressible Euler and Navier-Stokes equations where the fluid’s density and velocity become infinite – representing a complete breakdown of the fluid description. Throughout his career, Merle’s insights have overturned fundamental assumptions in the field, forged deep connections between mathematics and physics, and opened new avenues toward some of the most celebrated unsolved problems.

Breakthrough Prize in Fundamental Physics

Across more than six decades, scientists and engineers from three “muon g-2” collaborations, representing dozens of institutions, have pushed experimental precision ever higher in pursuit of a single, very significant number: the anomalous magnetic moment of the muon. The muon is a heavy, unstable cousin of the electron, and like the electron it can behave like a tiny magnet. The physicists are looking to capture how the muon’s magnetic strength is subtly affected by the “foam” of virtual particles constantly popping in and out of empty space around it. Measuring the muon’s magnetism and comparing it to theoretical predictions allows physicists to test whether any unknown particles or forces are hidden in this foam. In other words, to probe for new physics beyond the Standard Model, our most successful theory of particles and forces.

The CERN collaboration’s pioneering storage ring experiments of the 1960s and 1970s first measured the anomalous magnetic moment with meaningful precision. Then in the 1990s, Brookhaven National Laboratory’s reimagining of the experiment achieved a major improvement in precision. And after the audacious transportation of Brookhaven’s 50-ton, 15-meter-diameter storage ring 3,200 miles by road and barge to Fermilab in 2013, the experiment was systematically refined to achieve a final precision of 127 parts per billion – a mind-boggling 30,000 times more precise than the first g-2 experiment in 1965. The results had shown a tantalizing discrepancy with the value predicted by theory; and in 2023, Fermilab’s new results pushed that discrepancy close to the threshold considered evidence for new physics. Since then, the final, even more precise results, compared to newly evolved theoretical calculations narrowed the gap, but considerable uncertainty remains for the moment. Whatever the final verdict, this experiment represents a remarkable theoretical, experimental and technological endeavor, achieving extraordinary precision in the quest for fundamental understanding.

Special Breakthrough Prize in Fundamental Physics

David J. Gross has been a leading figure in fundamental physics for six decades. In the early 1970s, there was a gap in quantum field theory, our best theory of particles and forces. The theory could not describe or accurately predict the strong nuclear force, which holds the nucleus of the atom together. But in 1973, Gross and his graduate student Frank Wilczek (as well as, independently, David Politzer) solved the mystery. They discovered that the strong force works the opposite way to familiar forces like gravity: it gets weaker as particles approach each other, but stronger as they move apart. This explained why quarks, the particles inside the atomic nucleus, can never escape or be observed in isolation, and it enabled the development of quantum chromodynamics – the theory of the strong force and the final foundation stone of the Standard Model of particle physics.

Gross has gone on to make seminal contributions across multiple areas of theoretical physics. For example, he and his collaborators developed a simplified quantum field theory that helped explain how particles can acquire mass; and developed new theoretical approaches attempting to unify all fundamental forces, including gravity, in a single framework known as heterotic string theory.

Alongside his theoretical work, Gross has a longstanding record of leadership in the physics community, in roles including Director of the Kavli Institute for Theoretical Physics, and President of the American Physical Society. He has helped establish physics institutes in India, China, and South America. He directed the Jerusalem Winter School in Theoretical Physics and chaired the Solvay Physics Conferences for the last 25 years. In 2025 he was one of the authors of an ambitious 40-year plan for physics on behalf of the National Academies of Sciences, Engineering, and Medicine. And over the course of his career, he has been a mentor to numerous brilliant students who became leaders themselves, passing on his vision of physics as a collaborative international endeavor.

Inaugural Vera Rubin New Frontiers Prize

A new physics prize, the Vera Rubin New Frontiers Prize, will be announced during the ceremony, along with the inaugural recipient, Carolina Figueiredo, from Princeton University. One $50,000 prize is awarded this year; from 2027 there will be 3 per year.

The prize is named in tribute to the great astronomer Vera Rubin, who discovered key evidence for dark matter, and in homage to whom NVIDIA’s new chip platform is named. The new prize recognizes women physicists within two years of their PhDs who have already made important contributions to science.

Carolina Figueiredo discovered that three apparently unrelated theories — two governing nuclear particles called gluons and pions, and the third describing particles in a “toy model” that does not describe the existing world — all forbid exactly the same set of particle collisions. This was a big surprise, as the three theories are quite different, with no reason to think they are connected. Figueiredo’s discovery revealed that the common behavior reflects a single underlying geometric structure: curves drawn on surfaces, within a framework now known as surfaceology. Intriguingly, this structure makes no reference to particles moving through space and time; yet it reproduces the predictions of conventional physics far more efficiently than the traditional approach, which tracks each particle’s movement through these dimensions. Figueiredo’s work thus advances – and perhaps brings closer to the real world – a broader program to reformulate the foundations of particle physics in purely geometric terms, with spacetime as an emergent phenomenon arising from a new set of principles.

New Horizons in Physics Prize

Benjamin R. Safdi has made wide-ranging contributions to the search for the axion, a hypothetical particle that would explain a long-standing puzzle about the strong nuclear force, and could account for the mysterious dark matter that makes up 85 percent of the Universe’s mass. He has proposed ingenious new strategies for detecting axion-like particles using observations of astronomical objects, from radio emissions of neutron stars to X-rays from white dwarfs.

Clay Córdova, Thomas Dumitrescu, Shu-Heng Shao, and Yifan Wang have discovered and developed the theory of “generalized symmetries” in quantum field theory. Symmetries have long been among the most powerful tools in physics. The work of these researchers has shown that the Standard Model of particle physics, as well as other quantum field theories, possess previously unrecognised symmetry structures. Their work has opened a broad new field with applications ranging from falsifying theories beyond the Standard Model to simulating fundamental particles on a lattice.

Dillon Brout, J. Colin Hill, Mathew Madhavacheril, Maria Vincenzi, Daniel Scolnic, and W. L. Kimmy Wu have gleaned powerful new results from the two most important tools for measuring the expansion and composition of the Universe: the cosmic microwave background (CMB) radiation left over from the Big Bang, and light from exploding stars known as Type Ia supernovae. Hill, Madhavacheril, and Wu have pushed analyses of CMB data beyond previous limits, producing the most precise tests to date of the standard cosmological model as well as of gravitational lensing of the CMB – the subtle bending of light from the early Universe by the matter it passes on its way to us. Meanwhile Brout, Scolnic, and Vincenzi built and analysed the largest modern supernova datasets – including Pantheon+, now the most cited supernova analysis in cosmology – delivering tight constraints on dark energy and the rate of expansion of the cosmos.

New Horizons in Mathematics Prize

Otis Chodosh has settled several questions in differential geometry that had been open since the 1970s and 1980s. With Chao Li, he proved a central conjecture in the field concerning a broad class of higher-dimensional spaces known as “aspherical manifolds.” With Christos Mantoulidis, he resolved a key problem in geometric analysis of minimal surfaces – surfaces that locally minimise their area, like soap films.

Vesselin Dimitrov and Yunqing Tang have solved long-standing problems in number theory that had resisted all previous approaches. With Frank Calegari, they proved the “unbounded denominators conjecture,” about a fundamental class of objects known as modular forms, using methods that surprised experts in the field. Most recently, again with Calegari, they proved the irrationality of a number related to a basic infinite series – the first result of its kind since Apéry’s celebrated work forty-five years ago.

Hong Wang has resolved or made advances on a family of notoriously difficult problems in harmonic analysis – a branch of mathematics that studies functions by decomposing them into fundamental components. With Josh Zahl, she proved the Kakeya conjecture in three dimensions, one of the most famous open problems in the field: it concerns how much space is needed to rotate a needle through every possible direction.

Maryam Mirzakhani New Frontiers Prize

Amanda Hirschi has produced a number of significant papers in symplectic topology, a field studying higher-dimensional surfaces with a geometric structure that generalises the mathematics of classical mechanics. With co-authors, she developed a powerful new framework that leads to major simplifications in the foundations of Gromov-Witten theory. Anna Skorobogatova has made notable contributions in geometric measure theory, which uses techniques from analysis to tackle geometric problems such as finding surfaces of minimal area. In a series of papers with collaborators, she resolved a long-standing question about the structure of singularities of area-minimising surfaces, completing a programme that spanned over sixty years. Mingjia Zhang works on higher-dimensional objects in number theory called Shimura varieties. She provided a way to better understand the geometry of Mantovan’s celebrated “product formula” in number theory.

Citations for 2026 Laureates

2026 Breakthrough Prize in Life Sciences

Jean Bennett, University of Pennsylvania

Katherine A. High, University of Pennsylvania, Children’s Hospital of Philadelphia, and Rockefeller University
Albert Maguire, University of Pennsylvania

For developing a therapy for inherited retinal degeneration that became the first FDA-approved gene therapy for a genetic disease.

Rosa Rademakers, VIB, University of Antwerp, and Mayo Clinic
Bryan Traynor, National Institute on Aging, National Institutes of Health

For the discovery of the most common genetic cause of ALS and frontotemporal dementia which charted the path for new mechanistic studies of these diseases.

Stuart H. Orkin, Boston Children’s Hospital, Dana-Farber Cancer Institute, Harvard Medical School, and Howard Hughes Medical Institute
Swee Lay Thein, National Heart, Lung and Blood Institute, National Institutes of Health

For elucidating the mechanism driving the switch from fetal to adult hemoglobin and validating it as a therapeutic target for sickle-cell disease and beta-thalassemia.

2026 Breakthrough Prize in Mathematics

Frank Merle, CY Cergy Paris Université and Institut des Hautes Études Scientifiques

For breakthroughs in nonlinear evolution equations, with regards to their stability, singularity formation, or resolution into solitons.

2026 Breakthrough Prize in Fundamental Physics

The Muon g-2 Collaborations at CERN, Brookhaven National Laboratory, and Fermilab

For multi-decade, groundbreaking contributions to the measurement of the muon’s anomalous magnetic moment, pushing the boundaries of experimental precision and igniting a new era in the quest for physics beyond the Standard Model.

2026 Special Breakthrough Prize in Fundamental Physics

David J. Gross, Kavli Institute for Theoretical Physics, University of California, Santa Barbara

For a lifetime of groundbreaking contributions to theoretical physics, from the strong force to string theory, and for tireless advocacy for basic science worldwide.

2026 Vera Rubin New Frontiers Prize

Carolina Figueiredo, Princeton University

For contributions to the geometric structure of scattering amplitudes, revealing hidden relations among quantum field theories.

2026 Maryam Mirzakhani New Frontiers Prize

Amanda Hirschi, IMJ-PRG, Sorbonne Université

For contributions to symplectic topology.

Anna Skorobogatova, Clay Research Fellow and ETH Zürich

For contributions to geometric measure theory.

Mingjia Zhang, Princeton University and Institute for Advanced Study

For contributions to the theory of Shimura varieties.

2026 New Horizons in Mathematics Prize

Otis Chodosh, Stanford University

For contributions to differential geometry and the calculus of variations, including work on minimal surfaces and manifolds with positive scalar curvature.

Hong Wang, Institut des Hautes Études Scientifiques and New York University

For work in harmonic analysis, partial differential equations, and geometric measure theory, including the local smoothing conjecture, Furstenberg set conjecture, and the Kakeya conjecture.

Vesselin Dimitrov, Caltech
Yunqing Tang, University of California, Berkeley

For work in Diophantine geometry, including the proof of the Atkin-Swinnerton-Dyer unbounded denominators conjecture and new irrationality results for special values of Dirichlet L-series (both joint with Frank Calegari).

2026 New Horizons in Physics Prize

Benjamin R. Safdi, University of California, Berkeley

For proposing new ways to seek axion-like particles with laboratory experiments and astronomical observations.

Clay Córdova, University of Chicago
Thomas Dumitrescu, Mani L. Bhaumik Institute for Theoretical Physics, UCLA
Shu-Heng Shao, MIT
Yifan Wang, New York University

For generalizing the notion of symmetry in various ways, and for exploring the consequences of these generalized symmetries, in quantum field theory, particle physics, condensed matter physics, string theory, and quantum information theory.

Dillon Brout, Boston University
J. Colin Hill, Columbia University
Mathew Madhavacheril, University of Pennsylvania
Maria Vincenzi, University of Oxford
Daniel Scolnic, Duke University
W. L. Kimmy Wu, Caltech

For advances in cosmic microwave background and supernovae cosmology.

Videos and Photos

Assets, including headshots of this year’s winners, can be downloaded for media use here.

Images and select video from the 2026 Breakthrough Prize Gala — red carpet and ceremony — can be downloaded for media use here.

The show will premiere on YouTube on Sunday, April 26th at 3PM Eastern / 12PM Pacific.

For the 14th year, the Breakthrough Prize, renowned as the “Oscars® of Science,” recognizes the world’s top scientists. Each prize is $3 million and presented in the fields of Life Sciences, Fundamental Physics and Mathematics. In addition, up to three New Horizons in Physics Prizes, up to three New Horizons in Mathematics Prizes and up to three Maryam Mirzakhani New Frontiers Prizes are given out to early-career researchers each year. Laureates attend a gala award ceremony designed to celebrate their achievements and inspire the next generation of scientists.

The Breakthrough Prizes were founded by Sergey Brin, Priscilla Chan and Mark Zuckerberg, Julia and Yuri Milner, and Anne Wojcicki and have been sponsored by foundations established by them. Selection Committees composed of previous Breakthrough Prize laureates in each field choose the winners. Information on the Breakthrough Prize is available at breakthroughprize.org.

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Huawei Cloud Strengthens Thailand’s Insurance Industry with Next-Generation Digital Technologies

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BANGKOK, April 19, 2026 /PRNewswire/ — Huawei Cloud Thailand in collaboration with The Thai Life Assurance Association, hosted an executive forum bringing together more than 30 senior executives and technology leaders from leading insurance companies. The initiative reflects Huawei Cloud’s commitment to strengthening its role as a strategic partner in advancing Thailand’s digital and AI-driven economy, supporting insurance companies in accelerating secure, flexible, and scalable digital transformation through cloud-native infrastructure, advanced database technologies, and industry-specific solutions.

The event served as a platform for industry leaders to exchange insights on the future of the insurance industry in the era of cloud and AI-driven innovation, while exploring how cloud and AI technologies can modernize core insurance systems and enhance operational stability and resilience.

Driving the Future of Digital Insurance

As the insurance industry continues to accelerate its digital transformation, insurers are under increasing pressure to modernize legacy systems in order to support real-time services, rapidly growing data volumes, and evolving customer expectations.

Huawei Insurance Day event aims to position Huawei Cloud as a Strategic Digital Transformation Partner for the insurance industry, helping insurance companies build secure, scalable, and resilient digital infrastructures that can support long-term business growth.

During the event, Huawei Cloud showcased its end-to-end capabilities for the insurance sector, including cloud infrastructure, cloud-native databases, and specialized industry solutions designed to support mission-critical insurance systems.

Key Solutions for Insurance Digital Transformation

Digital Core Insurance Solution
A modernization solution that transform insurance companies migrate from legacy system such as AS/400 systems to cloud-native architectures with A next-generation core insurance architecture that enables insurers to rapidly launch new products, enhance system flexibility, simplifying maintenance and improve overall customer experience.

GaussDB for Mission-Critical Insurance Systems
Huawei’s enterprise-grade database that has been trusted by large financial organization globally, including Thailand. GaussDB designed to support critical workloads with high reliability, security and performance across multiple data centers on Huawei Cloud.

Piyatida Itiravivongs, President of Huawei Cloud Thailand said:

“Digital transformation has become a strategic priority for the insurance industry. Huawei Cloud is committed to supporting insurers in building a strong digital service by combining cloud infrastructure, advanced database technologies, and industry-specific solutions to improve operational efficiency and deliver better customer experiences.”

Meanwhile, Huang Hu, Solution Architect of Sinosoft, said:

“Sinosoft has extensive experience in developing technology platforms for the insurance industry. Through our collaboration with Huawei Cloud, we have successfully modernized insurance systems by adopting cloud-based architectures, helping organizations enhance the performance and stability of their core insurance platforms while supporting long-term business growth.

The success of these projects demonstrates the strong synergy between Sinosoft’s insurance technology expertise and Huawei Cloud’s advanced cloud infrastructure. We hope the experience and case studies shared at this event will provide valuable insights for insurance companies in Thailand as they accelerate their journey toward digital insurance.”

Thailand’s insurance industry is entering a new era in which digital technologies play an increasingly important role in enhancing operational efficiency and improving customer services. Forums such as this provide a valuable platform for industry stakeholders to exchange knowledge and perspectives on emerging technologies and innovations in cloud and digital infrastructure. Such knowledge sharing supports insurance companies in Thailand as they prepare for the ongoing evolution of the digital insurance landscape.

Huawei Cloud will continue to invest in cloud innovation to support the financial services and insurance sectors with secure, reliable, and scalable technologies, enabling sustainable business growth in the digital economy.

About Huawei Cloud Thailand

Huawei Cloud Thailand is a leading cloud service provider committed to accelerating Thailand’s digital transformation under the mission of “In Thailand, For Thailand.” According to the latest report from Gartner, Huawei Cloud is ranked No.2 by revenue in Thailand’s Infrastructure as a Service (IaaS) market, solidifying its position as one of the most trusted and fastest-growing international cloud providers in the country.

As the first international public cloud vendor to establish local data centers in Thailand, Huawei Cloud now operates three Availability Zones, ensuring high reliability and low-latency connectivity for local users. Leveraging Huawei’s 30-plus years of expertise in ICT infrastructure, it integrates cutting-edge Artificial Intelligence (AI), Cloud-Native 2.0, and Big Data technologies to empower over 40 government agencies and thousands of enterprises across the Kingdom. By building a robust digital ecosystem and fostering local talent, Huawei Cloud aims to drive Thailand’s “Digital Economy” forward, bringing cloud and intelligence to every corner of the country for a fully connected, intelligent future.

For more information, please visit Huawei Cloud Thailand online at
https://www.huaweicloud.com/intl/th-th/ or follow us on:
https://www.facebook.com/HuaweiCloudTH
https://www.youtube.com/@HuaweiCloudAPAC

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Breakthrough Prize Foundation Announces Winner of the 11th Annual Breakthrough Junior Challenge

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Matea Cañizarez, Age 18, of Quito, Ecuador, Receives Top Honors and $400,000 in Education Prizes for her Original Video Explaining Quark-Gluon Plasma

SAN FRANCISCO, April 18, 2026 /PRNewswire/ — The Breakthrough Prize Foundation today announced Ecuador-based student Matea Cañizarez as the winner of the 11th annual Breakthrough Junior Challenge, a global competition that empowers young people to creatively communicate complex ideas in the life sciences, physics, and mathematics.

The Breakthrough Junior Challenge will provide $400,000 in educational awards to Matea and her teacher, Roberto Procel. As the student winner, Matea will be granted a $250,000 college scholarship. In recognition of his work as a science teacher, Mr. Procel will receive a $50,000 award. The prize package also includes a cutting-edge science laboratory, designed by Cold Spring Harbor Laboratory and valued at $100,000, to be installed at Colegio Johannes Kepler, Matea’s current school, located in Quito, Ecuador. 

Matea was honored alongside the 2026 Breakthrough Prize laureates at The Breakthrough Prize Ceremony in Los Angeles on April 18, 2026.

“It’s exhilarating to meet bright, curious young people like Matea,” said Julia Milner, co-founder of the Breakthrough Junior Challenge, “And to see them pursuing their passion for ideas and communicating it to others makes me truly hopeful for the future,” said Julia Milner, co-founder of the Breakthrough Prize.

Matea’s winning entry explains quark-gluon plasma, an extreme state of matter that existed just after the Big Bang, in which quarks and gluons move freely instead of being bound inside protons and neutrons. Her short video can be seen here. This was Matea’s first entry to the Breakthrough Junior Prize, and she is currently applying for college next fall.

“Coming from a rural town in Ecuador, my passion for science was not a given. I am humbled by the honor of winning the Breakthrough Junior Challenge and hope to work in the service of society and nature by making the most of this opportunity,” said Matea.

“Congratulations on your beautiful video explaining the quark-gluon plasma,” said David Gross, winner of the 2026 Special Breakthrough Prize in Fundamental Physics, whose theories led directly to the discovery of the phenomenon in Matea’s video. Gross continued, “Very exciting, very well done, and I hope you stay in physics and help us understand even better the properties of the quark-gluon plasma in the laboratory, in the early Universe, and perhaps in the core of neutron stars.”

The Breakthrough Junior Challenge is a global program designed to showcase and advance young people’s understanding of science and core scientific principles, spark enthusiasm for STEM fields, encourage pursuit of STEM careers, and engage the broader public in fundamental scientific concepts. Each year, students ages 13 to 18 are invited to produce original videos of up to two minutes that explain a concept or theory in life sciences, physics, or mathematics.

Entries are judged on how effectively participants communicate complex scientific ideas in clear, compelling, and creative ways.

“Seeing students take on complex topics and explain them with enthusiasm and creativity is inspiring,” said Sal Khan, founder and CEO of Khan Academy and Vision Steward of TED. “Their work is a reminder that when young people are given access and opportunity to explore their interests, they can achieve great things.”

This year, the Breakthrough Junior Challenge attracted more than 2,500 applicants from around the world. Submissions were narrowed down to 30 semifinalists, which represented the top submissions after two rounds of judging: first, a mandatory peer review, followed by an evaluation panel of judges. Sixteen finalists were selected in December 2025.

Celebrating its 11th year, the Breakthrough Junior Challenge has reached a global community of more than 100,000 students, parents, and educators, drawing upwards of 30,000 applications from students in over 200 countries, including Canada, Nigeria, Kazakhstan, the Philippines, Singapore, and the United States. Since its launch, the program has distributed more than $2.5 million in college scholarships, invested $1 million in state-of-the-art science laboratories, and awarded $500,000 to exceptional science and mathematics teachers. Winning submissions have explored subjects ranging from  Mechanogenetic Cellular Engineering, Einstein’s Theory of RelativityCircadian Rhythms, Neutrino Astronomy, and more. Challenge alumni have continued their academic journeys at top-tier universities such as MIT, Harvard, Princeton, and Stanford.

This year’s Selection Committee was comprised of: Thea Booysen, MsC, social media director for neurologist Dr. Richard Isaacson and founder of MadeByHuman; Rachel Crane, space and science correspondent, CNN; Pascale Ehrenfreund, PhD, president, Committee on Space Research COSPAR; Dennis Gaitsgory, professor, Max Planck Institute for Mathematics, and Breakthrough Prize in Mathematics Laureate; John Grunsfelt, PhD astronaut, associate administrator for science, chief scientist at NASA Headquarters; Mae Jemison, physician, former astronaut, entrepreneur; Jeffery W. Kelly, professor of chemistry, Scripps Research Institute and Breakthrough Prize in Life Sciences laureate; Scott Kelly, retired NASA astronaut; Salman Khan, founder and CEO, Khan Academy; Ijad Madisch, CEO, co-founder, ResearchGate; Samaya Nissanke, University of Amsterdam, Breakthrough Prize in Fundamental Physics laureate; Nicole Stott, NASA astronaut, and co-founder of the Space for Art Foundation; Andrew Strominger, professor of physics, Harvard University, and Breakthrough Prize in Fundamental Physics laureate; Terence Tao, UCLA professor and Breakthrough Prize in Mathematics laureate; Esther Wojcicki, founder, Palo Alto High Media Arts Center; Richard Youle, National Institutes of Health, and Breakthrough Prize in Life Sciences laureate; and S. Pete Worden, chairman, Breakthrough Prize Foundation.

Partners

The Breakthrough Junior Challenge
The Breakthrough Junior Challenge, co-founded by Julia and Yuri Milner, is a global science video competition, aiming to develop and demonstrate young people’s knowledge of science and scientific principles and communications skills; generate excitement in these fields; support STEM career choices; and engage the imagination and interest of the public-at-large in key concepts of fundamental science.

The Breakthrough Prize
The Breakthrough Prize, renowned as the “Oscars of Science,” recognizes the world’s top scientists. Each prize is $3 million and presented in the fields of Life Sciences, Fundamental Physics (one per year) and Mathematics (one per year). In addition, up to three New Horizons in Physics Prizes, up to three New Horizons in Mathematics Prizes and up to three Maryam Mirzakhani New Frontiers Prizes are given out to early-career researchers each year. Laureates attend a gala award ceremony designed to celebrate their achievements and inspire the next generation of scientists.

The Breakthrough Prizes were founded by Sergey Brin, Priscilla Chan and Mark Zuckerberg, Julia and Yuri Milner, and Anne Wojcicki. The Prizes have been sponsored by the personal foundations established by Sergey Brin, Priscilla Chan and Mark Zuckerberg, Julia and Yuri Milner and Anne Wojcicki. Selection Committees composed of previous Breakthrough Prize laureates in each field choose the winners. Information on the Breakthrough Prize is available at breakthroughprize.org.

About Khan Academy
Khan Academy is a 501(c)(3) nonprofit organization with the mission of providing a free, world-class education for anyone, anywhere. Since 2008, Khan Academy has provided an education safety net, a free platform designed to provide global access to high-quality learning for students and free resources for teachers. Khan Academy partners with more than 600 school districts in the United States and works with school systems in countries around the world, providing tools that personalize education. Khan Academy is at the forefront of using AI in education to support students while ensuring educators remain at the heart of the classroom. Worldwide, more than 200 million registered learners have used Khan Academy in 190 countries and more than 50 languages. For more information, please see research findings about Khan Academy and our press center.

Cold Spring Harbor Laboratory (CSHL)
The Breakthrough Prize Lab for the winning student’s school is designed in partnership with Cold Spring Harbor Laboratory (CSHL). Founded in 1890, CSHL, an independent 501(c)(3) nonprofit, powers transformational discoveries in cancer, neuroscience, artificial intelligence, plant biology, and quantitative biology. Through world-renowned science and education divisions, CSHL nurtures a culture of curiosity, discovery, and innovation to make lives better. CSHL’s DNA Learning Center (DNALC) is the largest provider of hands-on instruction in genetics and biotechnology, reaching nearly 40,000 middle and high school students through field trips, day camps, summer camps, mentored research projects, and teacher training. For more than a century, CSHL has been a powerful and productive environment for developing, connecting, and sharing world-changing ideas. For more information, visit www.cshl.edu<http://www.cshl.edu/>>.

Contact
For more information, including competition rules, video submission guidelines and queries, go to: breakthroughjuniorchallenge.org.

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