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Lumen Technologies, Inc. (NYSE: LUMN) is a leading global telecommunications and technology company dedicated to transforming the way businesses and individuals interact with the digital world. With a workforce of approximately 38,000 professionals, Lumen is at the forefront of the 4th Industrial Revolution, offering flexible, intelligent, secure, and collaborative solutions for the next generation of business.
Lumen's extensive infrastructure includes 450,000 route miles of fiber, making it one of the largest telecommunication carriers in the United States. The company's strategic shift towards enterprise services was marked by its merger with Level 3 in 2017 and the divestiture of much of its ILEC business in 2022. Today, Lumen generates about 75% of its revenue from enterprise services, providing a full spectrum of communications solutions, including colocation and data center services, data transportation, and end-user phone and Internet services.
On the consumer side, Lumen delivers broadband and phone services across 37 states, serving 4.5 million broadband customers. The company is committed to enhancing the digital experience by leveraging its network strength, which spans metro connectivity, long-haul data transport, edge cloud, security, and managed service capabilities.
Lumen is also a recognized leader in cybersecurity. The latest Lumen Quarterly DDoS & Application Threat Report for Q4 2023 highlights a surge in DDoS attacks targeting the government sector. Lumen's advanced threat intelligence, powered by AI and machine learning, has been pivotal in mitigating these threats. The company's Black Lotus Labs threat intelligence team continues to identify and combat emerging cyber threats, such as the reemergence of TheMoon malware, which exploits outdated small office/home office (SOHO) routers.
Financially, Lumen has shown robust performance. The company reported total revenue of $3.290 billion for Q1 2024, alongside substantial improvements in customer satisfaction and significant broadband net additions. After executing a comprehensive debt restructuring plan, Lumen now enjoys a strengthened liquidity position and a streamlined debt maturity profile.
Recent achievements include securing a $73.6 million contract to transform the U.S. Government Accountability Office's (GAO) network infrastructure and launching Lumen Defender, a cutting-edge AI-driven cybersecurity tool designed to proactively block evolving threats at the network edge.
For more information about Lumen Technologies and their ambitious mission, please visit www.lumen.com.
Lumen Technologies (NYSE: LUMN) will present at two key investor conferences in March 2023. The first is the Morgan Stanley Technology, Media & Telecom Conference on March 6, starting at 3:55 p.m. ET. The second is the Raymond James 44th Annual Institutional Investors Conference on March 7, commencing at 1:40 p.m. ET. Live webcasts of both presentations will be accessible via the Lumen Investor Relations website. Lumen, serving over 60 countries, aims to enhance human progress through technology.
Lumen Technologies (NYSE: LUMN) released its Q4 2022 DDoS report, highlighting a rise in attacks and trends for 2023. Nearly 90% of Q4 attacks were 'hit and run' style, with a 73% increase in DNS amplification attacks. Lumen mitigated 22% more DDoS attacks in 2022 compared to 2021, including the largest attack of 1.06Tbps. Predictions for 2023 suggest attackers will target small- to mid-size businesses, utilize new resources, and coordinate attacks around significant dates. The cost of a DDoS attack could reach nearly $21 million for a company with $2 billion in revenue.
Lumen Technologies (NYSE: LUMN) reported a net loss of $(3.069) billion for Q4 2022, including a non-cash goodwill impairment charge of $3.271 billion, compared to a net income of $508 million in Q4 2021. Revenue fell to $3.800 billion from $4.847 billion year-over-year. The company completed the divestiture of its 20-state ILEC business for $7.5 billion and plans to sell its EMEA business to Colt for $1.8 billion. Lumen's free cash flow decreased to $126 million in Q4 2022, down from $776 million in Q4 2021. The company also announced a 2023 outlook of $4.6 to $4.8 billion for Adjusted EBITDA and $0 to $200 million for Free Cash Flow.
Lumen Technologies (NYSE: LUMN) announced significant changes to its executive leadership to enhance customer service and drive growth. The new appointees include Sham Chotai as Executive Vice President of Product and Technology and Jay Barrows as Executive Vice President of Enterprise Sales and Public Sector. Additionally, Ashley Haynes-Gaspar will oversee the marketing organization as Executive Vice President, Customer Experience Officer, Wholesale, and International. CEO Kate Johnson emphasized these leadership adjustments aim to foster innovation and simplify processes to improve customer experiences.
Lumen Technologies (NYSE: LUMN) has secured a $223 million contract from the U.S. Defense Information Systems Agency (DISA) to provide secure communications services for the U.S. Department of Defense. This award supports the DoD's mission by delivering modern hybrid-cloud voice and audio-conferencing services. The contract includes a one-year base period with three additional one-year options and a potential six-month extension. Lumen's advanced VoIP system enhances cost-efficiency by replacing desk phones and facilitating remote connectivity for a hybrid workforce, meeting DoD Impact Level 5 security standards.
Sterling Ranch, a master-planned community in Colorado, is expanding its partnership with Lumen (NYSE: LUMN) to deliver high-speed internet via the new XGS-PON technology. The rollout aims to provide internet speeds of up to 8 gigabits per second, significantly outpacing the U.S. average speed of 193.9 Mbps. By the end of 2024, this service will be available throughout the community, thanks to Lumen's premier fiber service, Quantum Fiber. This initiative aligns with Sterling Ranch's vision of becoming a smart city, supporting residents who rely on advanced connectivity for work and daily life.
Lumen Technologies (NYSE: LUMN) is expanding its 400 Gbps wavelength network to meet customer demand for fiber and connectivity. With investments in its U.S. intercity dark fiber network, Lumen now offers wavelength services that provide dedicated, secure connectivity for enterprises, government agencies, and data centers. The network has been deployed across 70 markets, with over 240 data centers enabled for 400G services, and currently handles more than 800TB of capacity. Lumen's self-service tool, Topology Viewer, allows customers to design their own networks. Ongoing expansions are planned for 2023, driven by customer needs.
Lumen Technologies (NYSE: LUMN) will announce its fourth quarter 2022 results on February 7, 2023. A live conference call will be held at 5 p.m. ET, accessible via their Investor Relations website. For those unable to join live, an audio replay will be available shortly after the call until May 8, 2023. Lumen operates with approximately 400,000 route fiber miles, providing essential technology solutions across more than 60 countries. Further details and materials related to the earnings release will also be posted on their Investor Relations website.
Lumen Technologies (NYSE: LUMN) has appointed Ashley Haynes-Gaspar as Executive Vice President for Customer Success, Wholesale, and International, effective January 9, 2023. With her extensive background, including a recent role as COO at Microsoft, she aims to enhance enterprise customer relationships and boost international and wholesale operations. CEO Kate Johnson expressed confidence in Haynes-Gaspar’s leadership and customer-focused vision, which aligns with Lumen's strategy to prioritize customer growth and satisfaction.
On January 5, 2023, Kate Johnson, CEO of Lumen Technologies (NYSE: LUMN), will present at Citi's 2023 Communications, Media & Entertainment Conference starting at 10:00 a.m. ET. A live webcast will be available on Lumen’s Investor Relations website. With approximately 400,000 route fiber miles, Lumen serves customers in over 60 countries, providing a secure platform for applications and data.
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