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Lumen Technologies LUMN Strategic — Revenue Not from Contract with Customer

Other product segments

Legacy
$41M
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

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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
Legacy3939
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

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Lumen Technologies's strategic — revenue not from contract with customer?
Lumen Technologies (LUMN) reported strategic — revenue not from contract with customer of $240M in Q1 2026.
What does strategic — revenue not from contract with customer mean?
This metric captures revenue recognized within the strategic segment that falls outside the scope of standard customer contracts, such as regulatory settlements, equipment sales, or non-recurring service fees. It highlights the portion of strategic income that is not tied to recurring subscription or service agreements. Investors monitor this to distinguish between stable, contract-backed growth and more volatile or one-time revenue sources.

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