T-Mobile US (TMUS) FY2025 results: revenue $88.3 billion, up 8.5% on the year

T-Mobile US provided wireless communications and broadband services to 142.4 million postpaid and prepaid customers as of 31 December 2025, and it earns from those services along with the sale of wireless devices and accessories. It also provides wholesale wireless services to partners who then sell them on. Services, devices and accessories go out under the T-Mobile, Metro by T-Mobile and Mint Mobile brands, through owned and operated T-Mobile and Metro by T-Mobile retail stores, the brands' websites and apps, customer care channels and national retailers, and devices are also sold to dealers and other third-party distributors for resale. The company calls itself the Un-carrier, and reports that its largest expenses are operating and expanding the network, providing a full range of devices, acquiring and retaining customers, and compensating employees.

Plans and devices

The plan line-up is led by the Experience plans, Experience More and Experience Beyond, which carry unlimited talk, text and data, 5G access at no extra cost, scam protection features, popular streaming subscriptions, in-flight Wi-Fi and the same device offers that new customers get. An Essentials rate plan covers customers who want the basics at a lower price point, and there are specific plans for Military and Veterans, First Responder and 55+ customers. Devices sold include smartphones, wearables, tablets, 5G broadband gateways and other mobile communication devices made by various suppliers, and qualified customers can finance all or part of a purchase over an installment period, generally 24 months, on an equipment installment plan. Broadband sits alongside the wireless business: 5G broadband is a fixed wireless product available to tens of millions of domestic households on the excess capacity of the nationwide 5G network, and fiber is being added for some consumers. Device protection, financial services and advertising round out what is on offer.

Two kinds of customer

Postpaid customers qualify to pay after receiving service, on phones, 5G broadband gateways, fiber connections, mobile internet devices including tablets and hotspots, wearables, DIGITS and other connected devices, and they include business customers served under the T-Mobile for Business brand. Prepaid customers pay in advance and are served under the T-Mobile, Metro by T-Mobile, Mint Mobile and Ultra Mobile brands. Machine-to-machine and mobile virtual network operator customers reach the network through wholesale partners, who hold the customer relationship under commercial agreements. In 2025, 81% of what the company earned from services came from postpaid customers, 15% from prepaid customers and 4% from wholesale and other services.

Network and spectrum

The network rests on low-band, mid-band and millimeter-wave spectrum licences deployed for 5G, and the filing states that third parties have recognised it as America's best network. At 31 December 2025 the company controlled an average of 394 MHz of combined low- and mid-band spectrum nationwide: an average of 43 MHz in the 600 MHz band, 12 MHz at 700 MHz, 14 MHz at 800 MHz, 42 MHz in the 1700 MHz AWS band, 68 MHz in the 1900 MHz PCS band, 185 MHz at 2.5 GHz, 3 MHz at 3.45 GHz and 27 MHz in the C-band. It also controlled an average of 1,059 GHz of combined millimeter-wave licences. The technologies the filing names include Massive MIMO, Voice over New Radio, Low Latency, Low Loss, Scalable Throughput, four-carrier and higher order aggregation, dynamic network slicing and what the company describes as the first broad deployment of 5G Advanced in the U.S., all carried on a nationwide 5G standalone network.

Deals and people

The UScellular Wireless Business was acquired on 1 August 2025 under a securities purchase agreement signed on 24 May 2024, covering substantially all of UScellular's wireless operations and select AWS, PCS, 600 MHz, 700 MHz and other spectrum assets, for an aggregate purchase price of approximately $4.4 billion payable in cash plus the assumption of up to $2.0 billion of debt through exchange offers to certain UScellular debtholders. Asset purchase agreements signed on 22 July 2025 added substantially all the wireless operations assets of Farmers Cellular Telephone Company, Iowa RSA No. 9 Limited Partnership and Iowa RSA No. 12 Limited Partnership for an aggregate $175 million in cash. A licence purchase agreement with Comcast, entered in September 2023 and amended on 13 January 2025, covers spectrum in the 600 MHz band for total cash consideration of between $1.2 billion and $3.4 billion. At 31 December 2025 the company employed approximately 75,000 full-time and part-time employees across network, retail, administrative and customer support functions, substantially all of them in the United States, including Puerto Rico.

From T-Mobile's annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 11 February 2026: read the full 10-K.