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Lumen Technologies LUMN Legacy — Revenue Not from Contract with Customer

Other product segments

Strategic
$240M
Fiber Broadband
$17M+467%
Other Broadband
$2M-91.7%
Voice and Other
$1M-88.9%

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Other financials

Income statement

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Revenue$2.9B-8.9%
Gross profit$1.5B-2.1%
Operating income$602.0M+463%
Net income-$200.0M+0.5%
EPS (diluted)-$0.200.0%

Balance sheet

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Cash & equivalents$1.6B-14.4%
Total debt$13.4B-29.0%
Total equity-$1.3B-556%
Total assets$30.6B-8.7%

Cash flow

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Operating cash flow$1.3B+20.8%
CapEx$943.0M+19.2%
Free cash flow$380.0M+25.0%

Valuation

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Market cap$6.27B+62.5%
Enterprise value$18.05B-15.7%
P/S0.5×+0.2×

Profitability

See full
Gross margin47.3%-0.9pp
Operating margin-2.6%-6.6pp
Net margin-14.3%
FCF margin-3.9%-9.2pp

Returns & leverage

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Return on equity-170.9%+20.5pp
Debt / equity65.4×+26.1×
Current ratio-0.2×

Where this comes from

Reported directly by Lumen Technologies in its filing.

Tagged under the XBRL concept us-gaap:RevenueNotFromContractWithCustomer.

The source filing: Lumen Technologies’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 4:18 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000018926-26-000046
Line itemTotal RevenueAdjustments for Non-ASC 606 Revenue (1)Total revenue from Contracts with Customers
Total International and Other73(1)72
Business Revenue by Product Category
Strategic1,246(240)1,006
Legacy1,198(41)1,157
Total Business Revenue2,444(281)2,163
Mass Markets by Product Category
Fiber Broadband92(17)75
Other Broadband205(2)203

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Lumen Technologies's legacy — revenue not from contract with customer?
Lumen Technologies (LUMN) reported legacy — revenue not from contract with customer of $41M in Q1 2026.
What does legacy — revenue not from contract with customer mean?
This metric captures revenue streams within the legacy segment that are derived from sources outside of standard customer service contracts, such as regulatory settlements, universal service fund subsidies, or non-recurring legacy asset dispositions. It highlights the portion of legacy income that is not tied to ongoing service delivery or recurring enterprise subscriptions. Investors monitor this to identify non-core or one-time revenue components that may distort the underlying performance of the core business.

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