LBRDA is no longer listed. Its last trade on record was Aug 21, 2026. The price and figures on this page are from its last trading day and final filings, and are no longer updated.
Revenue visibility remains severely compromised, with reported growth plummeting to -100% in 2026Q1 as structural accounting changes mask the underlying performance of the GCI Holdings segment.
Liberty Broadband Corporation (LBRDA) annual income statement — 14-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Revenue | 0 | 0 | 1.02B | 981M | 975M | 988M | 50.71M | 15M | 22.26M | 13.09M | 30.59M | 91.18M | 69.05M | 77.36M | 83.1M |
| Revenue Growth % | -100% | -100% | 3.57% | 0.62% | -1.32% | 1848.49% | 238.04% | -32.6% | 70% | -57.2% | -66.46% | 32.06% | -10.75% | -6.9% | - |
| Cost of Revenue | 0 | 0 | 257M | 245M | 253M | 282M | 35.67M | 9M | 7.99M | 10.73M | 2.8M | 6.1M | 7.5M | 23.44M | 20.36M |
| Gross Profit | 0 | 0 | 759M | 736M | 722M | 706M | 15.04M | 6M | 14.26M | 2.36M | 27.79M | 85.09M | 61.55M | 53.92M | 62.74M |
| Gross Margin % | - | - | 74.7% | 75.03% | 74.05% | 71.46% | 29.65% | 40% | 64.08% | 18% | 90.85% | 93.31% | 89.14% | 69.7% | 75.5% |
| Gross Profit Growth % | - | -100% | 3.13% | 1.94% | 2.27% | 4595.4% | 150.6% | -57.93% | 505.09% | -91.52% | -67.34% | 38.25% | 14.14% | -14.06% | - |
| Operating Expenses | 22M | 36M | 667M | 663M | 761M | 804M | 74.69M | 35M | 26.28M | 27.84M | 48.95M | 26.13M | 104.52M | 54.01M | 2.6M |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA | -3.56B | -3.14B | 299M | 303M | 223M | 169M | -44.43M | -27M | -9.23M | -21.71M | -17.16M | 65.04M | -33.93M | 4.29M | 13.72M |
| EBITDA Margin % | - | - | 29.43% | 30.89% | 22.87% | 17.11% | -87.62% | -180% | -41.49% | -165.81% | -56.09% | 71.33% | -49.14% | 5.55% | 16.51% |
| EBITDA Growth % | -1157.86% | -1151.51% | -1.32% | 35.87% | 31.95% | 480.39% | -64.55% | -192.37% | 57.46% | -26.54% | -126.37% | 291.69% | -890.2% | -68.7% | - |
| Depreciation & Amortization | 0 | 0 | 207M | 230M | 262M | 267M | 15.23M | 2M | 2.78M | 3.77M | 4M | 6.09M | 9.04M | 4.38M | 5.84M |
| D&A / Revenue % | - | - | 20.37% | 23.45% | 26.87% | 27.02% | 30.03% | 13.33% | 12.49% | 28.8% | 13.09% | 6.68% | 13.1% | 5.66% | 7.03% |
| Operating Income (EBIT) | -22M | -36M | 92M | 73M | -39M | -98M | -59.66M | -29M | -12.01M | -25.48M | -21.16M | 58.95M | -42.97M | -88K | 7.88M |
| Operating Margin % | - | - | 9.06% | 7.44% | -4% | -9.92% | -117.65% | -193.33% | -53.98% | -194.61% | -69.18% | 64.66% | -62.24% | -0.11% | 9.48% |
| Operating Income Growth % | - | -139.13% | 26.03% | 287.18% | 60.2% | -64.28% | -105.71% | -141.39% | 52.85% | -20.41% | -135.89% | 237.19% | -48734.09% | -101.12% | - |
| Interest Expense | 4M | 110M | 194M | 206M | 133M | 117M | 28M | 25M | 23.3M | 19.57M | 14.96M | 7.42M | 1.14M | 0 | 0 |
| Interest Coverage | - | -28.58x | 6.58x | 5.31x | 0.21x | -0.03x | 13.90x | -1.16x | -0.52x | -1.30x | -1.41x | 2.58x | -11.24x | - | - |
| Interest / Revenue % | - | - | 19.09% | 21% | 13.64% | 11.84% | 55.22% | 166.67% | 104.7% | 149.48% | 48.9% | 8.14% | 1.65% | 0% | 0% |
| Non-Operating Income | 0 | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | -1000K | -1000K | 1000K |
| Pretax Income | -6.43B | -3.25B | 1.08B | 888M | 1.53B | 950M | 361.17M | 155M | 91.88M | 2.45B | 1.48B | -70.06M | -202.29M | -64.43M | 70.76M |
| Pretax Margin % | - | - | 106.5% | 90.52% | 157.33% | 96.15% | 712.27% | 1033.33% | 412.82% | 18718.3% | 4824.66% | -76.83% | -292.98% | -83.28% | 85.15% |
| Income Tax | -1.59B | -923M | 213M | 200M | 277M | 218M | -36.44M | 37.94M | 21.92M | 416.93M | 558.37M | -19.87M | -67.69M | -22.7M | 26.86M |
| Effective Tax Rate % | 24.67% | 28.37% | 19.69% | 22.52% | 18.06% | 22.95% | -10.09% | 24.48% | 23.86% | 17.01% | 37.84% | 28.36% | 33.46% | 35.23% | 37.95% |
| Net Income | -5.25B | -2.68B | 869M | 688M | 1.26B | 732M | 397.62M | 117.22M | 69.95M | 2.03B | 917.3M | -50.19M | -134.6M | -41.73M | 44.2M |
| Net Margin % | - | - | 85.53% | 70.13% | 128.92% | 74.09% | 784.17% | 781.44% | 314.31% | 15533.66% | 2999.09% | -55.04% | -194.95% | -53.94% | 53.19% |
| Net Income Growth % | -584.23% | -407.94% | 26.31% | -45.27% | 71.72% | 84.1% | 239.22% | 67.56% | -96.56% | 121.7% | 1927.77% | 62.72% | -222.58% | -194.42% | - |
| EPS (Diluted) | -36.71 | -18.71 | 6.08 | 4.68 | 7.96 | 3.93 | 2.17 | 0.64 | 0.38 | 11.10 | 6.00 | -0.49 | -1.52 | -0.47 | 0.49 |
| EPS Growth % | -584.02% | -407.73% | 29.91% | -41.21% | 102.54% | 81.11% | 239.06% | 68.42% | -96.58% | 85% | 1324.49% | 67.76% | -223.4% | -195.92% | - |
| EPS (Basic) | - | -18.71 | 6.08 | 4.71 | 8.01 | 3.97 | 2.18 | 0.65 | 0.39 | 11.19 | 6.03 | -0.49 | -1.53 | -0.47 | 0.49 |
| Diluted Shares Outstanding | 143M | 143M | 143M | 147M | 158M | 186.23M | 183.25M | 182.78M | 182.78M | 183.15M | 152.85M | 103M | 88.77M | 89.53M | 89.53M |
Quick answers to the most common questions about buying LBRDA stock.
For fiscal year 2025, Liberty Broadband Corporation (LBRDA) reported total revenue of $0.0M. This represents a 100.0% decline compared to $83.1M in 2012.
Liberty Broadband Corporation (LBRDA) reported a net loss of $2.68B for the fiscal year ending 2025.
Key Metrics
Top Statement Risk
Equity method accounting complexity
Metrics are mathematically derived from official filings.
Revenue Visibility Obscured by Reporting
As indicated by recent financial filings, LBRDA's reported revenue growth plummeted to -100% in early 2026, reflecting a structural shift in accounting consolidation that masks the underlying performance of the core GCI Holdings segment and the significant equity-accounted interest in Charter Communications' broader connectivity operations.
The abrupt cessation of consolidated revenue reporting suggests that investors must look beyond the headline income statement to assess the true economic trajectory of the business. This lack of transparency complicates the evaluation of organic growth, as the primary value driver remains the non-consolidated equity stake rather than the operating revenue of the Alaskan subsidiary.
Net Income Volatility Masks Fundamentals
Based on reported figures, LBRDA's net income has exhibited extreme volatility, swinging from a $383 million profit in 2025Q2 to a $3.2 billion loss by 2025Q4, a trend that appears driven by non-operating equity accounting adjustments rather than core operational performance or cash generation.
The massive fluctuations in net income suggest that the bottom line is heavily influenced by the mark-to-market impact of the Charter investment. Investors should monitor these non-cash items closely, as they provide little insight into the actual cash-generating capacity of the underlying telecommunications infrastructure.
Fixed Cost Burden Remains Persistent
According to historical income statements, LBRDA maintained SG&A expenses near $110 million per quarter prior to recent reporting changes, highlighting the inelastic nature of the firm's overhead despite the inherent volatility in its consolidated revenue streams and the capital-intensive requirements of its network.
The persistence of these costs suggests that management faces limited flexibility in scaling expenses during periods of revenue pressure. This fixed-cost structure warrants further investigation into how the company intends to maintain margins if the broadband-only transition continues to erode the traditional video-bundle revenue base.
Holding Company Discount Risks Persistence
As noted in market commentary, the persistent gap between LBRDA's market capitalization and its underlying asset value suggests that the market remains skeptical of the current corporate structure, potentially viewing the equity-method accounting as a barrier to realizing the true value of the Charter stake.
Short-term investors may focus on the risk that the holding company discount remains a permanent feature rather than a temporary mispricing. Without a clear, tax-efficient path to a merger or spin-off, the income statement's reliance on equity accounting may continue to obscure the company's true value for the foreseeable future.