Optimum Communications flags prior financial statements as unreliable, plans restatement over deferred tax errors
Bitget2026/09/21 21:05- Optimum Communications’ audit committee flagged errors in deferred tax accounting, triggering non-reliance on prior financial statements.
- Restatements planned for the year ended Dec. 31, 2025, plus interim periods through June 30, 2026.
- Net losses expected to drop by about $430 million for 2025 periods, about $720 million for early 2026 periods.
- Cash balances, revenue, capex, cash flow, EBITDA, loss before income taxes expected to remain unchanged.
- Material weakness expected in income tax controls; prior ICFR assessments by management and KPMG no longer reliable.
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