Liberty Latin America Ltd.

lla.com

What Do They Do?

Sells bundled communications services to households and connectivity and IT solutions to businesses across Latin America and the Caribbean.

How Do They Make Money?

Households and businesses buy communications and connectivity services; fixed subscriptions, mobile airtime and long-term capacity contracts are paid in advance, as are installation and other upfront fees.

FY2025 revenue by product or service revenue

Segment	Share	How money arrives
Total residential revenue Recurring	68% FY2022: 69%	Recurring
B2B revenue Recurring	32% FY2022: 30%	Recurring
Other revenue	0.6% FY2022: 1.1%
Mobile Handsetand Other Devices	5.6% FY2022: 5.3%
B2B Mobile Handset and Other Devices	0.6% FY2022: 0.5%

Who Are Their Customers?

Households buy bundled communications services. Businesses—from small and medium enterprises to international companies and government agencies—buy connectivity, data center, hosting, managed and IT solutions.

Do Revenues Turn Into Profits?

Not on paper. It lost $611.2M in FY2025, but brought in more cash than it spent: $305.9M of free cash flow.

Operating income, FY2025

2% of revenue

▲ Now profitable vs FY2024 (−$76.8M, −2%)

Net income, FY2025

−14% of revenue

▼ −11% (Loss) vs FY2024 (−$689.4M, −16%)

Free cash flow, FY2025

7% of revenue

▲ +42% vs FY2024 ($215.9M, 5%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +1%; vs $1.1B in Q2 FY2025
Net income: ▼ −94% (Loss); vs −$423.3M in Q2 FY2025

Total residential revenue share of revenue vs 68.7% in Q2 FY2025

Flat. Revenue was $4.4B in FY2025, about the same as the $4.8B of FY2021.

Revenue over time

Total residential revenue B2B revenue Other revenue Mobile Handsetand Other Devices B2B Mobile Handset and Other Devices

$5B$2.5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Digicel, ALIV, Millicom, T-Mobile US, América Móvil, Claro, ICE, Telecable, Cable Bahamas, DirecTV, and DISH Network

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