Uniti Group Inc. (NASDAQ: UNIT) is a fiber infrastructure and telecommunications company that owns and operates fiber networks and provides connectivity services to enterprise, consumer, wholesale, and carrier customers. The company generates revenue through recurring service fees for broadband internet, fiber transport, managed networking, and wholesale bandwidth, alongside equipment sales revenues. Uniti operates two primary segments: Fiber Infrastructure, which delivered $1,053.9 million in total revenues and $772.1 million in contribution margin for the year ended December 31, 2025, and Kinetic, which generated $928.4 million in total revenues for the same period after being added via merger. Consolidated total revenues and sales were $3,790.2 million for the year ended December 31, 2025, down from $4,060.8 million in FY2024. The company carries significant interest expense, reporting $761.6 million in net interest expense for FY2025, reflecting a debt-heavy capital structure. Uniti is incorporated in Delaware and focuses geographically on medium-sized communities and large cities across the Southeast United States.

Revenue model

Uniti earns revenue primarily through recurring service fees, including fiber and DSL subscriber fees, business services, wholesale bandwidth, and managed networking contracts. The Fiber Infrastructure segment also captures revenue from sales-type leases and equipment sales. Additional revenue sources include RDOF funding ($21.8 million, FY2025), state USF support ($22.6 million, FY2025), switched access fees, and end-user surcharges. Sales revenues of $95.3 million in FY2025 supplement the dominant service revenue stream of $3,694.9 million.

Products and services

Fiber Infrastructure segment: fiber-based transport, dark fiber, wavelength connectivity, Ethernet transport (up to 400 Gbps), fiber-to-the-tower, dedicated internet access, e-access, colocation, and wholesale bandwidth to hyperscalers, cable operators, and telecom carriers. Kinetic segment: residential and small business broadband (fiber and DSL), voice, video bundling, managed cloud communications, managed network security, SD-WAN, SASE, SSE, UCaaS, CCaaS, LAN services, multi-site private networking, and fiber transport to wholesale customers.

Customers and end markets

Enterprise customers including banks, hospitals, schools, and government organizations; residential and small business broadband subscribers; wholesale customers including telecom carriers, hyperscalers (large cloud computing and storage providers), content providers, cable operators, and wireless carriers needing backhaul connectivity. Consumer segment generated $494.1 million in FY2025; business services $166.0 million; wholesale $138.5 million (all from Kinetic segment, FY2025).

Value-chain role

Uniti operates as a fiber network owner and managed services provider, sitting between physical infrastructure and end customers. It builds and maintains fiber plant, then monetizes capacity through long-term service contracts, wholesale agreements, and direct subscriber relationships.

Geographic exposure

Primarily the Southeast United States for Fiber Infrastructure operations, with broader national fiber footprint for wholesale and transport services. Kinetic operates as an incumbent local exchange carrier (ILEC) in its served markets.

Source: SEC 10-K, filed 2026-03-02

Industry: Telephone Communications (No Radiotelephone)