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- Material Weakness (new) — Company expects to disclose a material weakness in internal control over financial reporting related to income tax accounting.
- Restatement (new) — Company will restate 2025 annual and 2025-2026 quarterly financial statements due to errors in deferred tax accounting.
Filed September 21, 2026 · Period ending September 16, 2026 · ~1 min read
Key Changes
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high
Company will restate 2025 annual and 2025-2026 quarterly financials due to understated deferred tax benefits from two non-cash impairment charges.
Item 4.02 verify on EDGAR → -
high
Audit Committee says management's ICFR report and KPMG's opinion as of Dec 31, 2025 should no longer be relied upon.
Item 4.02 verify on EDGAR → -
high
Company expects to report a material weakness in internal control over financial reporting related to income tax accounting.
Item 4.02 verify on EDGAR → -
medium
Restatement is non-cash; no impact on cash balances, revenues, capex, cash flows, EBITDA, or loss before income taxes.
Item 4.02 verify on EDGAR →
Summary
Optimum Communications disclosed that it will restate its 2025 annual and 2025-2026 quarterly financial statements because it failed to recognize non-cash deferred tax benefits tied to two prior impairment charges of cable franchise rights.
The errors understated deferred tax benefits and overstated deferred tax liabilities, and the company expects to report a material weakness in internal control over financial reporting related to income tax accounting. The company emphasized that the correction is non-cash and will not affect cash balances, revenues, capital expenditures, cash flows, EBITDA, or loss before income taxes. For investors, the material weakness and loss of reliance on prior internal control opinions are significant governance concerns, even though the restatement itself improves reported net losses. The company intends to file amended reports as soon as reasonably practicable, and the final restated figures may differ from current estimates.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Optimum Communications filed an 8-K under Item 2.02 to report results of operations and financial condition.
Added in current filing · verify on EDGAR →
Item 2.02 Results of Operations and Financial Condition.
The company filed an 8-K under Item 2.02, which is used to disclose results of operations and financial condition. The filing does not include the actual financial results in the provided text.
Event · Item 4.02 — Non-Reliance on Previously Issued Financial Statements
Item 4.02 — Non-Reliance on Previously Issued Financial Statements filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
the Company intends to restate these financial statements by amending its Annual Report on Form 10-K for the year ended December 31, 2025, along with the applicable quarterly reports on Form 10-Q (the “Restated Filings”), as soon as reasonably practicable.
The company will amend its 2025 Form 10-K and applicable 2025-2026 Form 10-Qs to correct errors in deferred tax accounting. The restatement also extends to the consolidated financial statements of its wholly-owned subsidiary, CSC Holdings, LLC.
Added in current filing · verify on EDGAR →
the Company identified that it inadvertently failed to recognize non-cash deferred tax benefits associated with two previous non-cash impairment charges of its indefinite-lived cable franchise rights during the periods described above.
The errors stem from failing to recognize deferred tax benefits tied to two prior non-cash impairment charges of indefinite-lived cable franchise rights. This caused understatements of deferred income tax benefits and overstatements of the related deferred tax liability.
Added in current filing · verify on EDGAR →
will not affect the Company's previously reported cash balances, revenues, capital expenditures, cash flows, EBITDA or loss before income taxes.
The restatement is non-cash and does not affect the company's previously reported cash balances, revenues, capital expenditures, cash flows, EBITDA, or loss before income taxes. The impact is limited to deferred tax accounting and related balance sheet items.
Added in current filing · verify on EDGAR →
the Audit Committee concluded that management’s report on internal control over financial reporting as of December 31, 2025, and KPMG LLP’s opinion on the effectiveness of the Company’s internal control over financial reporting as of December 31, 2025, should no longer be relied upon.
The Audit Committee has concluded that both management's report and KPMG's opinion on internal control over financial reporting as of December 31, 2025 should no longer be relied upon. This is a significant governance and control failure signal.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 21, 2026 · How we verify