Liberty Latin America Ltd. (LILA): Canvas del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de las telecomunicaciones latinoamericanas, Liberty Latin America Ltd. (Lila) surge como una fuerza transformadora, tejiendo un complejo tapiz de conectividad digital que trasciende los límites de servicio tradicionales. Al navegar estratégicamente por terrenos desafiantes del mercado, Lila ha creado un modelo de negocio innovador que no solo ofrece soluciones de telecomunicaciones de vanguardia, sino que también aborda las necesidades digitales únicas de diversos segmentos de clientes en múltiples países. Su enfoque integral combina infraestructura avanzada, ofertas de servicios localizados y una comprensión profunda de la dinámica regional del mercado, posicionándolos como un jugador fundamental en el puente de divisiones digitales y capacitar a las comunidades a través de una conectividad tecnológica sin problemas.

Liberty Latin America Ltd. (Lila) - Modelo de negocios: asociaciones clave

Asociaciones estratégicas con proveedores de infraestructura de telecomunicaciones

Liberty Latin America Ltd. mantiene asociaciones críticas de infraestructura con los siguientes proveedores clave:

Pareja	Tipo de asociación	Cobertura geográfica
Corporación ciena	Suministro de equipos de red	Caribe, América Latina
Tecnologías Huawei	Desarrollo de infraestructura 5G	Chile, Panamá
Redes Nokia	Infraestructura de telecomunicaciones	Chile, mercados caribeños

Colaboración con proveedores locales de servicios de Internet

Lila colabora con proveedores regionales de servicios de Internet a través de acuerdos estratégicos:

• Telefónica Movistar (Chile)
• Claro Networks (Panamá)
• Digicel Caribbean
• Tigo Networks (Colombia)

Acuerdos de red al por mayor

Operador de red móvil	Detalles del acuerdo	Participación anual de ingresos
América Móvil	Acceso a la red al por mayor	$ 42.3 millones
Millicom International	Intercambio de infraestructura	$ 37.6 millones

Asociaciones de distribución de contenido

Lila ha establecido asociaciones de distribución de contenido con:

• Netflix
• Video de Amazon Prime
• Disney+
• ESPN

Plataforma	Valor de asociación	Alcance de suscriptor
Netflix	$ 18.5 millones	1.2 millones de suscriptores
Video de Amazon Prime	$ 12.7 millones	850,000 suscriptores

Liberty Latin America Ltd. (Lila) - Modelo de negocios: actividades clave

Desarrollo de infraestructura de red de telecomunicaciones

Liberty Latin America invirtió $ 355 millones en infraestructura de red en 2022. La compañía opera en 19 países en América Latina y el Caribe, manteniendo una infraestructura de red que abarca aproximadamente 47,000 kilómetros de red de fibra óptica.

Inversión en infraestructura	Cobertura de red	Despliegue de tecnología
$ 355 millones (2022)	19 países	DOCSIS 3.1 y FTTH Technologies

Provisión de banda ancha y servicios móviles

Liberty Latin America ofrece servicios de banda ancha con las siguientes métricas clave:

• Suscriptores de banda ancha totales: 1.8 millones
• Suscriptores móviles: 2.3 millones
• Suscriptores de línea fija: 1.1 millones

Contenido digital y entrega de servicios de entretenimiento

Tipo de servicio	Base de suscriptores	Flujo de ingresos
Servicios de video	1.2 millones de suscriptores	$ 287 millones de ingresos anuales

Atención al cliente y mantenimiento técnico

Las operaciones de soporte técnico incluyen:

• Centros de servicio al cliente 24/7 en 5 países
• 1.200 personal de soporte técnico dedicado
• Tiempo de respuesta promedio: 15 minutos

Expansión del mercado e integración de servicios

Métricas de expansión del mercado para 2022-2023:

Región	Nuevas entradas de mercado	Inversión
caribe	3 nuevos mercados	$ 78 millones
América Central	2 nuevos mercados	$ 65 millones

Liberty Latin America Ltd. (lila) - Modelo de negocios: recursos clave

Infraestructura de la red de telecomunicaciones

Liberty Latin America opera una infraestructura de red integral en múltiples países, que incluyen:

País	Cobertura de red	Tipo de red
Chile	95.6% de cobertura de población	4G/LTE
Puerto Rico	98.2% de cobertura de población	4G/5G
Mercados caribeños	82.3% de cobertura de población	4G/LTE

Plataformas de tecnología digital y comunicación

Detalles de la infraestructura técnica:

• Red total de fibra óptica: 45,673 kilómetros
• Capacidad del centro de datos: 127 petabytes
• Inversión de infraestructura en la nube: $ 86.4 millones en 2023

Recursos de la fuerza laboral

Categoría de empleado	Número total	Experiencia técnica promedio
Personal técnico	3,215	Experiencia promedio de 8.6 años
Servicio al cliente	2,743	6.4 años de experiencia promedio

Licencias de espectro

Spectrum Holdings en todos los mercados:

• Ancho de banda total del espectro: 1,287 MHz
• Validez de la licencia: 15-20 años
• Valor de espectro estimado: $ 623 millones

Capital financiero

Categoría de inversión	Cantidad de 2023	2024 proyectado
Infraestructura de red	$ 412.6 millones	$ 487.3 millones
Actualizaciones tecnológicas	$ 186.2 millones	$ 214.5 millones

Liberty Latin America Ltd. (Lila) - Modelo de negocios: propuestas de valor

Soluciones integrales de conectividad digital

Liberty Latin America ofrece servicios de conectividad digital en 19 países de América Latina y el Caribe. A partir del cuarto trimestre de 2023, la compañía informó:

Categoría de servicio	Suscriptores totales	Penetración del mercado
Banda ancha residencial	4.2 millones	37% de participación de mercado
Servicios móviles	3.8 millones	Cuota de mercado del 28%
Conectividad comercial	620,000 clientes empresariales	42% de penetración del mercado empresarial

Servicios de Internet y móviles de alta velocidad

Métricas de rendimiento de la red para 2023:

• Velocidad promedio de banda ancha: 250 Mbps
• Cobertura de la red móvil: 89% en todas las regiones de servicio
• Despliegue 5G: 16 áreas metropolitanas

Ofertas de paquetes de paquetes

Tipo de paquete	Precio mensual	Base de suscriptores
Triple Play (Internet/Mobile/TV)	$49.99	1.6 millones de suscriptores
Paquete de conectividad empresarial	$199.99	285,000 clientes empresariales

Tecnología innovadora de telecomunicaciones

Inversión tecnológica en 2023: $ 287 millones

• Actualizaciones de infraestructura de red
• Expansión de fibra óptica
• Integración del servicio en la nube

Ofertas de servicios localizados

Región	Características de servicio únicas	Ingresos regionales
caribe	Paquetes móviles primero	$ 412 millones
América Central	Soluciones de conectividad rural	$ 356 millones
Chile	Servicios de transformación digital empresarial	$ 287 millones

Liberty Latin America Ltd. (lila) - Modelo de negocios: relaciones con los clientes

Sistemas de atención al cliente multicanal

Liberty Latin America proporciona atención al cliente a través de:

• Soporte telefónico: centros de llamadas 24/7 en América Latina
• Soporte de chat en línea
• Canales de soporte por correo electrónico
• Ubicaciones minoristas físicas en 19 países

Canal de soporte	Tiempo de respuesta promedio	Tasa de satisfacción del cliente
Soporte telefónico	12 minutos	87%
Chat en línea	8 minutos	91%
Soporte por correo electrónico	24 horas	79%

Plataformas de autoservicio digital

Las plataformas digitales de Lila incluyen:

• Aplicación móvil de MyLiberty
• Portal de gestión de cuentas basado en la web
• Sistemas de pago de facturas de autoservicio

Plataforma digital	Usuarios activos mensuales	Transacciones procesadas
Aplicación móvil	1.2 millones	3.5 millones
Portal web	850,000	2.7 millones

Paquetes de servicio personalizados

Lila ofrece paquetes de servicio a medida basados ​​en el segmento de clientes y los patrones de uso.

Programas de fidelización y estrategias de retención de clientes

Métricas de retención de clientes:

• Tasa de rotación anual: 12.5%
• Valor promedio de por vida del cliente: $ 1,850
• Membresía del programa de fidelización: 45% de la base total de clientes

Participación comunitaria a través de plataformas digitales

Estadísticas de participación de la comunidad digital:

• Seguidores de redes sociales: 2.3 millones
• Foro comunitario Participantes activos: 180,000
• Eventos anuales de la comunidad digital: 12

Liberty Latin America Ltd. (Lila) - Modelo de negocios: canales

Equipos de ventas directos

A partir de 2024, Liberty Latin America mantiene aproximadamente 1,200 representantes de ventas directas en sus mercados operativos en América Latina y el Caribe.

Canal de ventas	Número de representantes	Cobertura geográfica
B2C Ventas directas	850	Chile, Panamá, Puerto Rico
Ventas empresariales B2B	350	Mercados caribeños y latinoamericanos

Sitio web en línea y aplicaciones móviles

Liberty Latin America opera plataformas digitales con las siguientes métricas:

• Visitantes mensuales del sitio web: 2.3 millones
• Descargas de aplicaciones móviles: 1.7 millones
• Transacciones de servicio digital: 68% de las interacciones totales del cliente

Tiendas minoristas y centros de servicios físicos

País	Número de ubicaciones minoristas	Tipo de centro de servicio
Chile	87	Tiendas minoristas de marca
Puerto Rico	42	Centros de servicio al cliente
Panamá	55	Ubicaciones minoristas/de servicios mixtas

Redes de revendedor autorizadas

Liberty Latin America mantiene 620 asociaciones de revendedor autorizadas en sus territorios operativos.

Categoría de revendedor	Número de socios	Gama de productos
Revendedores de telecomunicaciones	380	Servicios móviles y de línea fija
Revendedores de equipos tecnológicos	240	Equipos y dispositivos de redes

Canales de marketing de telemarketing y digital

Marketing digital y métricas de rendimiento de telemarketing para 2024:

• Gasto anual de marketing digital: $ 12.4 millones
• Tamaño del equipo de telemarketing: 210 representantes
• Tasa de conversión de marketing digital: 4.7%
• Generación de leads de telemarketing: 42,000 clientes potenciales calificados mensuales

Liberty Latin America Ltd. (lila) - Modelo de negocios: segmentos de clientes

Consumidores de banda ancha residencial

A partir del cuarto trimestre de 2023, Liberty Latin America atiende a aproximadamente 6.1 millones de suscriptores de banda ancha residencial en América Latina y el Caribe.

Región	Suscriptores de banda ancha	Ingresos mensuales promedio por usuario (ARPU)
Chile	1.2 millones	$35.50
Puerto Rico	850,000	$42.75
Mercados caribeños	1.5 millones	$38.25

Empresas pequeñas y medianas

Liberty Latin America apunta a 325,000 clientes de pequeñas y medianas empresas (PYME) en sus mercados operativos.

• Soluciones de conectividad empresarial
• Servicios en la nube
• Gestionó infraestructura
• Paquetes de ciberseguridad

Segmento de mercado	Número de clientes de PYME	Ingresos promedio de servicios comerciales mensuales
Conectividad comercial	185,000	$275
Servicios en la nube	95,000	$180
Servicios de TI administrados	45,000	$425

Clientes empresariales corporativos

Liberty Latin America atiende a 1.250 grandes clientes corporativos con ingresos anuales superiores a $ 250 millones.

Categoría de servicio corporativo	Conteo de clientes	Valor anual promedio del contrato
Infraestructura de telecomunicaciones	650	$ 1.2 millones
Soluciones de seguridad de red	350	$850,000
Servicios en la nube empresarial	250	$ 1.5 millones

Usuarios de comunicación móvil

Liberty Latin America brinda servicios móviles a 3.8 millones de suscriptores móviles en sus mercados.

Tipo de servicio móvil	Recuento de suscriptores	ARPU móvil mensual promedio
Móvil prepago	2.4 millones	$12.50
Móvil pospago	1.4 millones	$35.75

Buscadores de entretenimiento digital

Liberty Latin America ofrece servicios de entretenimiento digital a 2.9 millones de videos y clientes de transmisión.

Servicio de entretenimiento	Base de suscriptores	Tasa de suscripción mensual
Televisión por cable	1.6 millones	$45
Paquetes de transmisión	1.3 millones	$25

Liberty Latin America Ltd. (lila) - Modelo de negocios: estructura de costos

Mantenimiento y expansión de la infraestructura de red

En 2023, Liberty Latin America informó gastos de capital de $ 601 millones para inversiones de infraestructura de red. Los costos de mantenimiento de la red de la compañía fueron de aproximadamente $ 215 millones para el año fiscal.

Categoría de costos	Cantidad (USD)
Capex de infraestructura de red	$601,000,000
Gastos de mantenimiento de la red	$215,000,000

Inversiones de tecnología y equipos

Las inversiones tecnológicas para Liberty Latina América en 2023 totalizaron $ 187 millones, con asignaciones específicas para:

• Actualizaciones de equipos de telecomunicaciones
• Modernización de infraestructura digital
• Infraestructura de computación en la nube

Salarios y capacitación de los empleados

Los gastos totales de personal para Liberty Latina América en 2023 fueron de $ 456 millones, que incluyen:

Categoría de gastos	Cantidad (USD)
Salarios base	$392,000,000
Capacitación y desarrollo	$18,500,000
Beneficios y compensación	$45,500,000

Gastos de marketing y adquisición de clientes

Los gastos de marketing para Liberty Latina América en 2023 alcanzaron $ 124 millones, con un desglose de la siguiente manera:

• Marketing digital: $ 47 millones
• Publicidad tradicional: $ 38 millones
• Campañas de adquisición de clientes: $ 39 millones

Costos de cumplimiento y licencia regulatoria

Los gastos regulatorios y de licencia para 2023 fueron de $ 52 millones, que abarcaban:

Categoría de cumplimiento	Cantidad (USD)
Licencia de telecomunicaciones	$29,000,000
Cumplimiento regulatorio	$23,000,000

Estructura de costos totales para 2023: aproximadamente $ 1.521 mil millones

Liberty Latin America Ltd. (Lila) - Modelo de negocios: flujos de ingresos

Servicios de Internet basados ​​en suscripción

Liberty Latin America reportó ingresos totales de servicios residenciales de $ 1.09 mil millones para el tercer trimestre de 2023, con 5.4 millones de clientes residenciales en sus mercados.

Tipo de servicio	Ingresos mensuales promedio por usuario
Internet de banda ancha	$35.67
Voz fija	$18.45
Servicios de video	$42.33

Planes de comunicación móvil

Los ingresos del servicio móvil alcanzaron los $ 336 millones en el tercer trimestre de 2023, con 3.1 millones de suscriptores móviles.

• Planes móviles prepago: $ 15- $ 45 por mes
• Planes móviles pospago: $ 35- $ 85 por mes
• Soluciones móviles empresariales: $ 50- $ 250 por mes

Contenido digital y servicios de entretenimiento

Los ingresos por entretenimiento digital generaron $ 127 millones en 2023.

Servicio	Tasa de suscripción mensual
Transmisión de vod	$9.99
Paquetes deportivos premium	$29.99

Soluciones de telecomunicaciones empresariales

Los ingresos del segmento B2B totalizaron $ 412 millones en 2023.

• Servicios en la nube: $ 500- $ 5,000 por mes
• Soluciones de seguridad de red: $ 1,000- $ 10,000 por mes
• Conectividad empresarial personalizada: $ 2,000- $ 25,000 por mes

Tarifas de acceso a la red al por mayor

Los ingresos al por mayor ascendieron a $ 187 millones en 2023.

Tipo de acceso	Tarifa por Mbps
Acceso a la red de fibra	$0.75
Intercambio de redes móviles	$0.45

Liberty Latin America Ltd. (LILA) - Canvas Business Model: Value Propositions

You're looking at the core value Liberty Latin America Ltd. delivers to its customers, which is really about providing the essential digital pipes for the region. It's not just about having a service; it's about the quality and reach of that service in a diverse geography.

High-speed, reliable broadband connectivity (up to Gigabit speeds)

We see a clear commitment to speed and capacity in the fixed network. By the end of 2024, a substantial 97% of Liberty Latin America Ltd.'s fixed networks were equipped to deliver speeds of at least 1 Gbps, with plans to approach 100% coverage in 2025. This focus on fiber-to-the-home (FTTH) technology underpins the reliability you expect.

Bundled Fixed-Mobile Convergence (FMC) services for value and simplicity

Bundling services is a major value driver, and the numbers show customers are taking advantage. As of the first quarter of 2025, Fixed-Mobile Convergence (FMC) penetration across key markets surpassed 30%. This strategy is working, as evidenced by the strong commercial momentum, with postpaid additions in Q3 2025 being the highest in three years. Overall, Liberty Latin America Ltd. added just over 100,000 net organic broadband and postpaid mobile subscribers in the first half of 2025 across its core growth segments.

Here's a quick look at the adoption metric:

Metric	Value as of Late 2025 Data Point
FMC Penetration (Key Markets)	>30% (Q1 2025)
H1 2025 Net Organic Broadband & Postpaid Additions	Just over 100,000
Q3 2025 Mobile Postpaid Additions	Highest in three years

Enterprise-grade connectivity and managed IT solutions for B2B clients

For business clients, the value proposition is rooted in the wholesale and enterprise network, Liberty Networks. This division saw its rebased revenue grow by 3% year-over-year in Q1 2025, specifically helped by managed services and B2B connectivity. The Q3 2025 results also noted better momentum in the B2B segment, showing that these specialized services are a growing part of the overall value delivered.

Extensive regional coverage across 20+ countries and territories

The sheer scale of operation is a value point in itself, offering a single partner across a wide footprint. Liberty Latin America Ltd. is a leading communications company operating in over 20 countries across Latin America and the Caribbean. The Liberty Networks division specifically connects more than 30 markets in the region through its infrastructure.

Resilient network infrastructure supported by subsea cables

Resilience comes from deep investment in physical assets. Liberty Networks operates nearly 50,000 kilometres of submarine fibre optic cable and 17,000 kilometres of terrestrial networks. This backbone is being actively upgraded to meet future demands. For example, the ongoing MAYA-1.2 reconfiguration is set to double the capacity for the Cayman Islands to up to 4 terabits per second in each direction. Furthermore, the new MANTA subsea cable system, estimated at 5,400 km in length, is designed to support up to 22 Tb/s per fiber pair (FP).

The infrastructure investment is clearly long-term.

• Liberty Networks operates nearly 50,000 km of submarine fibre.
• The MANTA system is estimated at 5,400 km long.
• MAYA-1.2 upgrade doubles capacity to up to 4 Tb/s per direction.
• The network connects Liberty Latin America Ltd. to more than 30 markets.

Finance: draft 13-week cash view by Friday.

Liberty Latin America Ltd. (LILA) - Canvas Business Model: Customer Relationships

You're looking at how Liberty Latin America Ltd. (LILA) keeps its millions of customers engaged across over 20 countries, balancing digital transformation with on-the-ground support.

Dedicated account management for B2B and wholesale enterprise clients is a core part of the strategy, especially through Liberty Networks and the B2B segments in operating companies like C&W Panama. Management noted better momentum in B2B revenue during the third quarter of 2025. However, Liberty Networks reported a decrease in enterprise revenue in Q3 2025, and C&W Panama also saw a decline in its B2B revenue for the same period. This indicates that while the focus is there, execution varies by market segment and location.

The push for digital self-service platforms for billing and support is significant, driven by a digital-first vision. Liberty Latin America is actively deploying a common, cloud-native architecture across its operating companies to deliver a revitalized B2C and B2B customer experience. This transformation involves integrating platforms like Salesforce Communication Cloud and MuleSoft APIs, aiming for 50% reusability in TMF Open APIs and an 80% increase in data accuracy. The goal is to offer a comprehensive suite of self-service applications, including personalized, zero-touch eCommerce options.

For customer care focus to reduce churn, particularly in challenged markets, Liberty Puerto Rico is a key area of attention. Postpaid churn in Liberty Puerto Rico continues to trend favorably, and the introduction of the new postpaid customer value proposition, Liberty Mix, in July 2025 is intended to support momentum in the second half of the year. Still, postpaid churn in Liberty Puerto Rico remains elevated following a challenging migration through 2024.

Loyalty programs tied to FMC bundles for increased stickiness are central to commercial strategy. The company is actively driving Fixed-Mobile Convergence (FMC) penetration higher, viewing it as a key differentiator. FMC penetration reached over 30% across key markets by Q1 2025. This focus is paying off, as postpaid additions in Q3 2025 were the highest in three years, led by Costa Rica, as the company pushes FMC. Overall, the group added just over 100,000 net organic broadband and postpaid subscribers in H1 2025 across Liberty Caribbean, C&W Panama, and Liberty Costa Rica.

Liberty Latin America maintains a retail store presence for in-person sales and service, although specific 2025 financial data on this channel is not detailed in recent earnings reports, which heavily emphasize digital growth and network improvements. The company serves customers across over 20 countries under brands like BTC, Flow, Liberty, and Más Móvil.

Here's a quick look at some key customer-related operational metrics as of the latest reporting periods in 2025:

Metric	Value/Period	Source Context
H1 2025 Net Organic Broadband & Postpaid Additions (Excl. PR)	Just over 100,000	Liberty Caribbean, C&W Panama, Liberty Costa Rica
Q1 2025 FMC Penetration	Over 30%	In key markets
Q3 2025 Postpaid Additions	Highest in three years	Led by Costa Rica, driven by FMC push
Q3 2025 Rebased Adjusted OIBDA Margin	39%	For the quarter, driven by customer base management
Digital Transformation API Reusability Target	Over 50%	In TMF Open APIs for faster time to market

The focus on customer base management, which helped maintain a 7% YoY rebased Adjusted OIBDA expansion in Q3 and YTD 2025, shows that these relationship efforts translate directly to financial results. If onboarding takes 14+ days, churn risk rises, especially in markets like Puerto Rico where migration issues have been a factor.

Liberty Latin America Ltd. (LILA) - Canvas Business Model: Channels

You're looking at how Liberty Latin America Ltd. (LILA) gets its services-mobile, fixed, and enterprise-into the hands of customers across its operating segments. The channel strategy is a mix of direct engagement for larger deals and broad retail/digital reach for the mass market.

Direct sales force for B2B and governmental contracts is a key avenue, especially through the Liberty Networks segment. While B2B revenue saw a 30% year-over-year decline in Q2 2025 on both reported and rebased bases, this was largely due to a tough comparison against strong project revenue in the prior year period. However, by Q3 2025, there was better momentum, with B2B revenue increasing by 2% on a rebased basis. Enterprise revenue within Liberty Networks continues to benefit from managed services and B2B connectivity.

For consumer reach, Liberty Latin America Ltd. (LILA) relies on physical retail stores and kiosks across operating segments. Specific counts for these points of sale aren't public, but the overall subscriber momentum suggests these physical touchpoints are active. For instance, across Caribbean, Panama, and Costa Rica operations, the company added close to 60,000 organic broadband and postpaid mobile net additions in Q1 2025.

The push toward digital self-service is significant, with online portals and mobile apps for self-service and sales being a strategic focus. Liberty Latin America Ltd. (LILA) is targeting 30% of its sales to come from high-growth digital services by the end of 2025. This aligns with the overall growth in Fixed-Mobile Convergence (FMC) penetration, a key differentiator.

For prepaid mobile services, which rely heavily on accessibility, third-party dealers and distributors are essential. While specific dealer metrics aren't itemized, the success in mobile revenue is evident in areas like C&W Caribbean, where mobile residential revenue grew 5% rebased in Q1 2025, driven partly by higher prepaid ARPU following price increases.

Call centers for customer service and telesales support the entire ecosystem. The company's focus on cost reduction and efficiency, which helped drive an 8% year-over-year rebased Adjusted OIBDA growth in H1 2025, involves streamlining operations that include these centers. In Liberty Puerto Rico, for example, the stabilization efforts included lower FTEs (Full-Time Equivalents) in the period, which would impact call center staffing and cost structures.

Here's a look at some of the key financial and statistical data points related to the business performance driving these channels as of late 2025:

Metric	Value	Period/Context
TTM Revenue	$4.43 Billion USD	As of December 2025
Q2 2025 Revenue	$1,087 million	Three months ended June 30, 2025
H1 2025 Revenue	$2,170 million	Six months ended June 30, 2025
Digital Sales Target	30%	Target for 2025
Q3 2025 B2B Revenue Growth (Rebased)	2%	Year-over-year
Q2 2025 B2B Revenue Change (Reported/Rebased)	(30%)	Year-over-year
H1 2025 Organic Net Additions (Excl. PR)	Just over 100,000	Broadband and Postpaid Mobile Subscribers
Q1 2025 Mobile Subscribers (Puerto Rico)	717,700	As of March 31, 2025

The company continues to see strong commercial momentum, with postpaid additions in Q3 2025 being the highest in three years, led by Costa Rica. Also, the Adjusted OIBDA margin reached 39% for Q3 2025 on a sequential basis.

Liberty Latin America Ltd. (LILA) - Canvas Business Model: Customer Segments

You're looking at the core customer groups for Liberty Latin America Ltd. (LILA) as of late 2025, based on their latest operational reports through the third quarter of 2025. The customer base is clearly segmented across consumer and business needs, with specific metrics showing where the growth-and the challenges-lie.

Residential consumers seeking bundled fixed (broadband, video) and mobile services represent a primary focus, especially through the Fixed-Mobile Convergence (FMC) strategy. By the end of Q3 2025, Liberty Latin America Ltd. reported a consolidated mobile subscription base of 6.68 million. This base included 101,700 net postpaid additions during Q3 2025, which offset prepaid losses. The fixed side saw a dip, with fixed line Revenue Generating Units (RGUs) at 3.98 million in Q3 2025, down 600 year-on-year. The success of bundling is shown by FMC penetration exceeding 30% in key markets as of Q1 2025. For context on recent momentum, the first half of 2025 saw over 100,000 net organic broadband and postpaid additions across the core operating segments (Liberty Caribbean, C&W Panama, and Liberty Costa Rica).

The company's residential performance varies by region; for instance, in Liberty Caribbean, mobile residential revenue increased by 6% rebased year-over-year in Q2 2025, supported by 41,000 net organic postpaid additions over the preceding twelve months.

Small and Medium Enterprises (SMEs) requiring connectivity and managed solutions, along with Large enterprises and governmental agencies needing high-capacity data and IT services, fall under the B2B category. This segment showed signs of recovery late in the year. While B2B revenue fell by 30% on both a reported and rebased basis in Q2 2025 due to tough comparisons with strong prior-year project revenue, Q3 2025 saw better momentum in B2B.

Here is a snapshot of the key customer-facing metrics we have for the residential and B2B segments through H1 and Q3 2025:

Segment Focus Area	Metric	Latest Reported Number (as of late 2025)	Period/Context
Residential Mobile	Consolidated Mobile Subscriptions	6.68 million	End of September 2025 (Q3)
Residential Mobile	Postpaid Net Organic Additions	101,700	Q3 2025
Residential Fixed	Fixed Line RGUs	3.98 million	Q3 2025
Residential Bundling	FMC Penetration	>30%	Key Markets (Q1 2025)
B2B/Enterprise	Revenue Change (YoY)	+2%	Q3 2025 Revenue Growth (Implied from total revenue up 2%)
B2B/Enterprise	Revenue Change (YoY)	-30%	Q2 2025 Reported/Rebased Decline

Wholesale carriers and content providers utilizing subsea capacity (Liberty Networks) form the final distinct segment. This division leverages the company's fiber optic network connecting over 30 markets in the region. Liberty Networks reported a 6% YoY rebased revenue growth in Q3 2025, specifically driven by subsea capacity sales.

The focus on wholesale capacity is a key driver for this part of the business, as evidenced by the Q3 2025 performance:

• Liberty Networks Q3 rebased revenue growth: 6%.
• Liberty Networks Q2 2025 rebased revenue decline: 3%.

The company is actively managing its customer relationships, excluding mobile-only customers from its official customer relationship count. If onboarding takes 14+ days, churn risk rises.

Liberty Latin America Ltd. (LILA) - Canvas Business Model: Cost Structure

You're looking at the cost side of Liberty Latin America Ltd. (LILA)'s operations as of late 2025. It's a capital-intensive business, so where the money goes is critical to watching for margin improvement.

The company has been actively managing its capital intensity, which directly impacts the spending on network assets. Management reaffirmed a plan to bring Property, Plant, and Equipment (P&E) additions down to a 14% of revenue target over the next few years, a reduction from the prior 16% level. You saw this trend in action in the third quarter of 2025, where P&E additions were reported at 13% of revenue for Q3. That focus on lower capital intensity is a key lever for future cash flow generation.

The balance sheet carries a significant debt load, which translates directly into fixed interest costs you must account for. As of the latest reports, Liberty Latin America Ltd. holds $8.2 billion in consolidated debt. This level of leverage results in a group leverage ratio of 4.7x. To put the cost of servicing that debt into perspective, the interest cover ratio was recently reported at a tight 0.84, which definitely signals that interest expense is a major component of the overall cost structure and a key risk if earnings dip.

Here's a quick look at some of the key financial metrics that define the cost environment you're dealing with:

Cost Metric Category	Financial Data Point	Value/Rate
Target CapEx as % of Revenue	Management Target for P&E Additions	14%
Actual CapEx as % of Revenue	Q3 2025 P&E Additions	13%
Consolidated Debt	Total Principal Amount Outstanding	$8.2 billion
Leverage Ratio	Group Leverage Ratio	4.7x
Interest Expense Proxy	Interest Cover Ratio	0.84
Operating Performance	Q3 2025 Adjusted EBITDA	$433 million

Network operating costs, which include things like maintenance, energy, and spectrum fees, are being actively managed alongside labor. Management has cost reduction programs in flight across all operating segments, aiming for enhanced operating leverage. You'll see management emphasizing solid execution on cost reduction initiatives to maintain Adjusted OIBDA expansion.

Labor and personnel costs are under the microscope, too. The forecast for margin expansion depends on management maintaining discipline on these costs while continuing digitization efforts. The company is streamlining its operating structure to achieve cost efficiencies, with these activities set to carry over into 2026.

For equipment costs, including what you spend on customer premise equipment (CPE), the focus on lower capital intensity is the clearest indicator of management's approach to managing these expenditures. The goal is to drive Adjusted EBITDA less P&E additions, which saw a 22% improvement year-over-year in Q3 2025, reaching a margin of 26%.

• Continue to monitor spectrum acquisition costs relative to network expansion needs.
• Watch for segment-specific cost improvements, like the efficiency initiatives in Liberty Caribbean.
• Labor cost discipline is explicitly tied to future margin forecasts.

Finance: draft 13-week cash view by Friday.

Liberty Latin America Ltd. (LILA) - Canvas Business Model: Revenue Streams

You're looking at the top-line performance for Liberty Latin America Ltd. (LILA) as of late 2025, focusing strictly on where the money comes in. The most recent reported figure you have is the Q3 2025 reported revenue of $1.11 billion, which represented a 2% increase year-over-year on a reported basis. The trailing twelve months (TTM) revenue ending September 30, 2025, stood at $4.43 billion.

Here's a quick look at the headline financial context around that revenue:

Metric	Amount
Q3 2025 Reported Revenue	$1.11 billion
TTM Revenue (as of Sep 30, 2025)	$4.43 billion
Annual Revenue 2024	$4.45 billion
Q3 2025 Revenue YoY Growth (Reported)	2%
Q3 2025 Revenue YoY Growth (Rebase)	1%

The revenue streams are fundamentally driven by subscriptions across fixed and mobile services, supplemented by business services and equipment sales. The commercial momentum in Q3 2025 was strong, showing year-over-year rebase revenue growth.

Residential subscription revenue from fixed services (broadband, video, voice) is a core component, with growth noted in specific operations:

• Liberty Caribbean saw residential fixed revenue increase by 5% on a rebase basis year-over-year in Q3 2025.
• Liberty Costa Rica's rebase growth was fueled by higher residential mobile revenue, but fixed services are a foundational part of that market's revenue base.

Residential subscription revenue from mobile services (postpaid and prepaid) showed particular strength:

• The company reported its highest quarterly mobile postpaid additions in three years during Q3 2025.
• Liberty Costa Rica's rebase revenue growth was primarily due to higher residential mobile revenue, driven by postpaid subscriber growth.
• Liberty Caribbean saw residential mobile revenue increase by 2% on a rebase basis.
• The push for Fixed-Mobile Convergence (FMC) penetration is a key strategic focus supporting this stream.

Business-to-Business (B2B) service revenue (enterprise and wholesale) is another significant driver, showing improved momentum:

• C&W Panama's B2B segment delivered 14% rebased growth, largely from large enterprise and government projects.
• C&W Panama's B2B revenue increased by approximately $20 million sequentially from Q2 2025.
• Liberty Networks saw 6% rebased revenue growth, driven by expansion in both wholesale and enterprise, with subsea capacity revenue being a key fueler.
• Liberty Caribbean's B2B revenue increased by 2% on a rebase basis.

Non-subscription revenue from equipment sales (e.g., buy-to-own CPE model) contributes to the mobile revenue performance, though specific dollar amounts for this stream aren't broken out separately in the high-level reports. You see its impact noted qualitatively:

• Residential mobile revenue growth in Liberty Costa Rica was explicitly fueled by higher mobile equipment sales.
• Overall mobile performance was bolstered by these equipment sales alongside postpaid additions.

Finance: draft 13-week cash view by Friday.