A net loss of $356.5 million was reported for 2025, a significant decline from net income of $14.5 million in 2024. Total revenues decreased by 4.9% to $1,501.4 million in 2025 from $1,579.5 million in 2024. Operating expenses increased by 50.2% to $1,708.8 million in 2025, primarily due to $586.0 million in non-cash asset impairment charges. Adjusted EBITDA decreased by 6.1% to $801.7 million in 2025 from $854.0 million in 2024. Residential data revenues decreased by 2.6% to $901.7 million, and residential data PSUs decreased by 5.8% to 899,700. Business data revenues increased by 0.3% to $229.0 million, with business customer relationships increasing by 1.6% to 107,600. Residential video revenues decreased by 15.7% to $187.1 million, and residential video PSUs decreased by 22.1% to 83,700. The quarterly cash dividend on common shares was suspended in Q2 2025, expected to save approximately $67 million annually. Repaid $403.4 million of debt during 2025. The Put Option to acquire remaining equity interests in MBI was exercised on January 2, 2026, with closing anticipated on October 1, 2026, for an estimated $480 million. Non-cash asset impairment charges totaling $586.0 million were recognized in Q2 2025, consisting of $497.2 million for indefinite-lived franchise agreements and $88.8 million for goodwill, driven by a decline in stock price, increased competition, and higher discount rates. The average residential data customer used approximately 835 Gigabytes of data per month in Q4 2025, with more than 30% using over 1 Terabyte. Multi-Gigabit download data service has been rolled out to 53% of markets, and Gigabit download service is available to all passings. Deployment of DOCSIS 4.0 capabilities is underway to further increase network capacity. Equity investments in Ziply, MetroNet, and a small equity investee were divested in 2025. An agreement was entered into to contribute Clearwave Fiber equity interests to Point in exchange for additional equity in Point, expected to close in Q2 2026.