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DENVER - Lumen Technologies (NYSE:LUMN), operating with annual revenues of $12.8 billion and currently rated ’FAIR’ by InvestingPro’s Financial Health Score, has reached a milestone of exceeding 1,000 customers on its Network-as-a-Service (NaaS) platform, the company announced Wednesday.
Launched in late 2023, Lumen’s NaaS platform allows businesses to digitally connect applications across offices, cloud providers, and data centers within minutes through self-service options. The platform enables customers to scale bandwidth capacity up or down based on business needs. According to InvestingPro analysis, Lumen maintains a strong free cash flow yield, with liquid assets exceeding short-term obligations, positioning the company well for continued platform investment.
The service suite includes Internet On-Demand for public connectivity, Ethernet On-Demand for layer 2 private connectivity, and IP VPN On-Demand for layer 3 private connectivity. Security features include DDoS Essentials and Lumen Defender for threat protection.
"This is a landmark milestone to observe as we continue to focus on what enterprises need, where the world is going, and where we lead," said Ashley Haynes-Gaspar, Executive Vice President and Chief Revenue Officer at Lumen Technologies.
According to the company, its NaaS platform has attracted customers including Best Buy, Churchill Downs Racetrack, Columbia Sportswear Company, Foot Locker, and Pac-12 Enterprises. Despite a challenging market environment with revenue declining 6.5% year-over-year, the company maintains a solid current ratio of 2.13, indicating strong short-term financial stability.
The platform is built on Lumen’s network infrastructure, which includes approximately 163,000 on-net buildings and 340,000 global fiber route miles. With an enterprise value to EBITDA ratio of 6.38, the market appears to be pricing in the value of these assets. The company stated it plans to expand its network to reach 47 million intercity fiber miles by the end of 2028. For detailed analysis of Lumen’s infrastructure valuation and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
Earlier this year, Lumen was recognized as the 2024 NaaS Service Provider of the Year for North America by MPLIFY (formerly MEF).
The announcement was made in a press release statement from the company.
In other recent news, Lumen Technologies reported its second-quarter 2025 earnings, showing a narrower-than-expected loss per share. The company posted an actual EPS of -$0.03, significantly better than the forecasted -$0.25, representing an 88% positive surprise. However, revenue slightly missed expectations, coming in at $3.09 billion against the anticipated $3.11 billion. Despite the revenue miss, the earnings report was seen as positive due to the substantial EPS improvement. There have been no significant updates regarding any mergers involving Lumen Technologies. Analyst firms have not recently issued any upgrades or downgrades for the company. These developments reflect the latest financial performance and market perception of Lumen Technologies.
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