Company: LILA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001712184-25-000179
Chunk: 10

Company: Liberty Latin America Ltd.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 10
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9 September 30, 2025$519.6 $205.0 $183.9 $264.0 $169.3 $(86.8)$— $1,255.0 

Adjusted OIBDA Margin

The following table sets forth the Adjusted OIBDA Margin of each of our reportable segments:

 Three months ended September 30,Nine months ended September 30, 2025202420252024 %Liberty Caribbean46.8 43.9 47.3 42.6 C&W Panama36.1 36.5 37.0 34.3 Liberty Networks55.9 54.0 53.8 53.8 Liberty Puerto Rico32.0 28.6 29.4 24.2 Liberty Costa Rica36.5 34.9 36.5 36.5 

Adjusted OIBDA Margin is impacted by organic changes in revenue, programming and other direct costs of services and other operating costs and expenses. We incurred aggregate integration costs during the three and nine months ended September 30, 2024 of $1 million and $17 million, respectively, within our Liberty Puerto Rico segment.

Revenue

Most of our segments derive their revenue primarily from (i) residential fixed services, including video, broadband internet and fixed-line telephony, (ii) mobile services and (iii) B2B enterprise services. Liberty Networks also provides wholesale services over its subsea and terrestrial fiber optic cable networks.

While not specifically discussed in the below explanations of the changes in revenue, we experience significant competition in all of our markets. Competition has an adverse impact on our ability to increase or maintain our (i) RGUs, (ii) ARPU and/or (iii) B2B revenue.

Variances in the subscription revenue that we receive from our customers are a function of (i) changes in the number of RGUs or mobile subscribers during the period and (ii) changes in ARPU. Changes in ARPU can be attributable to (i) changes in prices, (ii) changes in bundling or promotional discounts, (iii) changes in the tier of services selected, (iv) variances in subscriber usage patterns and (v) the overall mix of fixed and mobile products during the period. In the following discussion, we discuss ARPU changes in terms of the net impact of the above factors on the ARPU that is derived