Lumen Technologies, Inc. (LUNM): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage en évolution rapide de la transformation numérique, Lumen Technologies émerge comme une puissance, se positionnant stratégiquement à l'intersection des solutions avancées de réseautage, de cybersécurité et de cloud. En fabriquant méticuleusement un modèle commercial complet qui couvre la connectivité d'entreprise, l'informatique Edge et les services gérés, Lumen est passé d'un fournisseur traditionnel de télécommunications en un facilitateur d'écosystème technologique dynamique. Leur approche innovante tire parti d'un vaste réseau de fibres optiques et des technologies de pointe pour fournir des solutions numériques intégrées qui autonomisent les entreprises sur les marchés mondiaux, ce qui en fait un acteur essentiel dans le paysage de l'infrastructure technologique moderne.

Lumen Technologies, Inc. (LUNM) - Modèle d'entreprise: partenariats clés

Télécommunications majeures et fournisseurs de services cloud

Lumen Technologies maintient des partenariats stratégiques avec les principales télécommunications et fournisseurs de services cloud suivants:

Partenaire	Détails du partenariat	Année établie
Microsoft Azure	Intégration du cloud et solutions cloud hybrides	2018
Amazon Web Services (AWS)	Services de connectivité cloud directe	2016
Google Cloud	Collaboration des infrastructures de réseau et de cloud	2019

Partners de solutions de technologie de la technologie d'entreprise

Les partenariats de solutions de technologie d'entreprise de Lumen comprennent:

• Cisco Systems - Infrastructure réseau et solutions de sécurité
• Dell Technologies - Solutions de calcul et de stockage d'entreprise
• VMware - Virtualisation et infrastructure cloud
• Hewlett Packard Enterprise (HPE) - Services et matériel informatiques d'entreprise

Fabricants d'équipements d'infrastructure réseau

Fabricant	Type d'équipement	Valeur d'achat annuelle
Ciena Corporation	Équipement de réseautage optique	325 millions de dollars
Réseaux de genévriers	Infrastructure de routage et de commutation	278 millions de dollars
Nokia	Équipement de réseau de télécommunications	412 millions de dollars

Fournisseurs de services gérés

Les partenariats clés des fournisseurs de services gérés comprennent:

• Accenture - Consulting technologique mondial et services gérés
• IBM - Services informatiques d'entreprise et solutions gérées
• Wipro Limited - Services technologiques et transformation numérique

Alliances de technologie mondiale stratégique

Partenaire d'alliance	Portée mondiale	Focus de partenariat
Équinix	Plus de 200 centres de données dans le monde	Services d'interconnexion et de centre de données
Groupe zayo	Présence en Amérique du Nord et en Europe	Infrastructure de fibres et connectivité réseau
Telstra	Région Asie-Pacifique	Services internationaux de réseau et de cloud

Lumen Technologies, Inc. (LUNM) - Modèle d'entreprise: Activités clés

Gestion des infrastructures de réseau de fibres

Lumen Technologies exploite environ 450 000 milles de route de réseau de fibres dans le monde. L'investissement en infrastructure réseau en 2023 était de 1,03 milliard de dollars. La société gère Plus de 170 centres de données à travers plusieurs géographies.

Métrique du réseau	Quantité
Total des miles d'itinéraire de fibres	450,000
Centres de données	170+
Investissement en infrastructure (2023)	1,03 milliard de dollars

Solutions de connectivité d'entreprise

Les services de connectivité d'entreprise génèrent environ 5,2 milliards de dollars de revenus annuels. Les offres de connectivité clés comprennent:

• Services SD-WAN
• Accès Internet dédié
• Solutions de réseau privé
• Connectivité cloud hybride

Développement du service de cybersécurité

Les services de cybersécurité représentent 782 millions de dollars de revenus annuels. Les investissements spécifiques des services comprennent:

• Plates-formes de détection des menaces
• Services de sécurité gérés
• Protection avancée des critères de terminaison

Déploiement de la plate-forme informatique Edge

L'investissement infrastructure de l'informatique Edge a atteint 245 millions de dollars en 2023. Les capacités de la plate-forme comprennent:

Métrique informatique de bord	Valeur
Investissement annuel	245 millions de dollars
Emplacements de bord	130+
Latence moyenne	15-20 millisecondes

Services d'optimisation du réseau et de transformation numérique

Les services de transformation numérique ont généré 1,7 milliard de dollars de revenus en 2023. Le portefeuille de services comprend la migration du cloud, la modernisation des réseaux et les stratégies d'optimisation compatibles AI.

• Services de migration en cloud
• Refonte de l'architecture du réseau
• Gestion du réseau alimenté par AI

Lumen Technologies, Inc. (LUNM) - Modèle d'entreprise: Ressources clés

Infrastructure de réseau à fibre optique étendue

Lumen Technologies exploite un Réseau de fibres de 450 000 milles couvrant les États-Unis. Détails d'infrastructure réseau auprès du quatrième trimestre 2023:

Métrique du réseau	Quantité
Total des miles d'itinéraire de fibres	450,000
Bâtiments sur le net	130,000
Points de présence du réseau mondial	250+

Technologie avancée de télécommunications

L'infrastructure technologique comprend:

• Capacités de réseautage défini par logiciel (SDN)
• Plates-formes informatiques Edge
• Technologies de réseau 5G et de nouvelle génération
• Solutions de connectivité cloud hybride

Travail technique et ingénierie qualifié

Métrique de la main-d'œuvre	Nombre
Total des employés	26,000
Personnel technique	12,500
Professionnels de l'ingénierie	4,800

Centre de données et actifs de cloud computing

Cloud and Data Center Infrastructure Spécifiques:

• 32 centres de données de qualité d'entreprise
• Empreinte totale du centre de données: 1,4 million de pieds carrés
• Capacités de service cloud hybride
• Connectivité cloud multi-régions

Technologies de sécurité du réseau propriétaire

Les investissements en technologie de sécurité comprennent:

• Systèmes de détection de menaces avancées
• Architecture réseau zéro-frust
• Plateformes de surveillance de la cybersécurité
• Pile de solution de sécurité intégrée

Lumen Technologies, Inc. (LUNM) - Modèle d'entreprise: propositions de valeur

Solutions de transformation numérique d'entreprise intégrées

Lumen Technologies propose des solutions de transformation numérique d'entreprise avec les mesures clés suivantes:

Catégorie de service	Revenus annuels	Clientèle d'entreprise
Services de transformation numérique	1,2 milliard de dollars	Plus de 2 500 clients d'entreprise

Services de connectivité réseau haute performance

Les offres de connectivité réseau comprennent:

• Infrastructure mondiale de réseau couvrant 450 000 miles de route
• Disponibilité du réseau: 99,99% de disponibilité
• Services de connectivité générant 4,3 milliards de dollars de revenus annuels

Plates-formes informatiques de cloud et de bord évolutives

Service cloud	Investissement annuel	Emplacements informatiques Edge
Infrastructure informatique de bord	350 millions de dollars	150+ nœuds informatiques de bord

Offres complètes de cybersécurité

Répartition des services de cybersécurité:

• Revenus de services de sécurité gérés: 275 millions de dollars
• Couverture de détection des menaces: surveillance mondiale 24/7
• Clients de sécurité: plus de 1 800 clients d'entreprise

Fiabilité et couverture du réseau mondial

Métrique du réseau	Spécification
Présence du réseau mondial	60+ pays
Réseau des miles de fibres	530 000 miles de route
Investissement annuel du réseau	500 millions de dollars

Lumen Technologies, Inc. (LUNM) - Modèle d'entreprise: relations avec les clients

Gestion de compte axée sur l'entreprise

Depuis le quatrième trimestre 2023, Lumen Technologies dessert 51% des entreprises du Fortune 500 avec des équipes de gestion des comptes d'entreprise dédiées. La société gère environ 2 300 relations avec les clients d'entreprise dans plusieurs secteurs.

Segment de clientèle	Nombre de comptes d'entreprise	Revenu annuel par segment
Grandes entreprises	1,150	2,4 milliards de dollars
Entreprises de marché intermédiaire	1,150	1,8 milliard de dollars

Services de support technique et de consultation

Lumen fournit un support technique 24h / 24 et 7j / 7 avec des temps de réponse en moyenne 15 minutes pour les problèmes d'entreprise critiques. La société maintient 12 centres de soutien mondiaux avec plus de 1 200 professionnels de support technique dédiés.

• Temps de résolution moyen du support client: 4,2 heures
• Évaluation de satisfaction du client: 87,5%
• Canaux de support technique: téléphone, e-mail, chat en direct, portail en ligne

Conception de solution de technologie personnalisée

En 2023, Lumen a développé plus de 450 solutions technologiques personnalisées pour les clients d'entreprise, avec une valeur de projet moyenne de 3,2 millions de dollars.

Type de solution	Nombre de solutions personnalisées	Valeur moyenne du projet
Intégration du cloud	175	3,5 millions de dollars
Sécurité du réseau	135	2,8 millions de dollars
Transformation numérique	140	3,1 millions de dollars

Partenariats technologiques stratégiques à long terme

Lumen maintient 87 partenariats technologiques stratégiques avec les fournisseurs de technologies mondiales, avec une durée de partenariat moyenne de 6,3 ans.

• Revenus de partenariat stratégique: 750 millions de dollars en 2023
• Taille de l'écosystème des partenaires: 87 entreprises technologiques
• Valeur du partenariat moyen: 8,6 millions de dollars par an

Plates-formes de libre-service numériques

La plate-forme numérique en libre-service de Lumen a traité 2,4 millions d'interactions clients en 2023, ce qui représente 42% du total des engagements du service client.

Fonctionnalité de plate-forme	Volume d'utilisation	Taux d'adoption des clients
Facture en ligne	1,2 million d'interactions	65%
Gestion des services	800 000 interactions	45%
Portail de support technique	400 000 interactions	32%

Lumen Technologies, Inc. (LUNM) - Modèle d'entreprise: canaux

Équipes de vente en entreprise directe

Lumen Technologies maintient une force de vente d'entreprise dédiée de 2 847 représentants des ventes directes au quatrième trimestre 2023. Ces professionnels des ventes ciblent les clients du marché moyen et des entreprises à travers plusieurs verticales de l'industrie.

Catégorie de canal de vente	Nombre de représentants commerciaux	Revenu annuel moyen par représentant
Ventes d'entreprise	2,847	1,2 million de dollars
Gestion de compte stratégique	412	3,5 millions de dollars

Plateformes numériques en ligne

Les canaux numériques de Lumen comprennent des plateformes en ligne complètes avec les mesures suivantes:

• Trafic de site Web: 1,2 million de visiteurs uniques mensuels
• Taux d'activation des services en ligne: 68% des nouveaux contrats d'entreprise
• Utilisation du portail en libre-service numérique: 42% des interactions client existantes

Conférences de technologie et événements de l'industrie

Lumen participe à 47 conférences majeures de technologie et de télécommunications par an, avec une portée d'engagement estimée à 85 000 clients potentiels.

Réseaux partenaires de télécommunications

Lumen maintient des partenariats stratégiques avec 276 fournisseurs mondiaux de services de télécommunications et de technologies.

Catégorie de réseau partenaire	Nombre de partenaires	Revenus annuels des partenariats
Fournisseurs mondiaux de télécommunications	127	456 millions de dollars
Partenaires d'intégration technologique	149	312 millions de dollars

Marketing numérique et engagement Web

Les canaux de marketing numérique démontrent des mesures d'engagement importantes:

• Abonnés des médias sociaux: 214 000 sur toutes les plateformes
• Dépenses publicitaires numériques: 22,3 millions de dollars par an
• Email Marketing Reach: 187 000 décideurs d'entreprise
• Taux de conversion du marketing numérique: 3,7%

Lumen Technologies, Inc. (LUNM) - Modèle d'entreprise: segments de clientèle

Grandes entreprises d'entreprise

Au quatrième trimestre 2023, Lumen Technologies dessert environ 2 700 clients d'entreprise avec des revenus annuels de plus d'un million de dollars. Le segment des entreprises de la société a généré 2,4 milliards de dollars de revenus annuels.

Segment de clientèle	Nombre de clients	Revenus annuels
Grandes entreprises d'entreprise	2,700	2,4 milliards de dollars

Organisations commerciales de marché intermédiaire

Lumen Technologies cible les entreprises à mi-parcours avec des revenus annuels entre 10 et 500 millions de dollars. L'entreprise dessert environ 5 200 clients du marché intermédiaire.

• Total de clientèle à mi-marché: 5 200
• Valeur du contrat moyen: 350 000 $ par an
• Industries primaires: soins de santé, services financiers, vente au détail

Entités du gouvernement et du secteur public

Les contrats gouvernementaux représentent 18% du total des revenus des entreprises de Lumen, avec environ 450 clients fédéraux, étatiques et gouvernementaux locaux.

Segment du gouvernement	Nombre de clients	Contribution des revenus
Gouvernement fédéral	125	8% des revenus des entreprises
Gouvernement et gouvernement local	325	10% des revenus des entreprises

Fournisseurs de services de télécommunications

Lumen fournit des services de réseau en gros à environ 1 100 fournisseurs de services de télécommunications, générant 680 millions de dollars de revenus de gros annuels.

• Clients totaux en gros: 1 100
• Revenus de gros annuels: 680 millions de dollars
• Couverture du réseau: 450 000 miles de route

Sociétés multinationales mondiales

Lumen prend en charge 350 sociétés multinationales mondiales dans 60 pays, les services de réseau internationaux générant 950 millions de dollars de revenus annuels.

Segment mondial	Nombre de clients	Revenus annuels
Sociétés multinationales mondiales	350	950 millions de dollars

Lumen Technologies, Inc. (LUNM) - Modèle d'entreprise: Structure des coûts

Maintenance d'infrastructure réseau

Au quatrième trimestre 2023, Lumen Technologies a déclaré des coûts de maintenance des infrastructures de réseau de 1,2 milliard de dollars par an. La société exploite environ 450 000 miles de route de réseau de fibres, avec des frais de maintenance décomposés comme suit:

Composant d'infrastructure	Coût de maintenance annuel
Réseau de fibre optique	675 millions de dollars
Centres de données	325 millions de dollars
Équipement réseau	200 millions de dollars

Investissements de recherche et développement

Lumen Technologies a alloué 237 millions de dollars à la recherche et au développement en 2023, en se concentrant sur des domaines technologiques clés:

• Edge Computing Technologies
• Solutions de cybersécurité
• 5G et optimisation du réseau
• Intégration de l'IA et de l'apprentissage automatique

Acquisitions de matériel technologique et de logiciels

Les coûts d'acquisition de la technologie pour 2023 ont totalisé 412 millions de dollars, avec la ventilation suivante:

Catégorie de technologie	Dépenses d'acquisition
Matériel d'infrastructure cloud	185 millions de dollars
Logiciel de réseautage	147 millions de dollars
Technologies de cybersécurité	80 millions de dollars

Compensation et formation des employés

Les dépenses totales liées aux employés pour 2023 étaient de 1,6 milliard de dollars:

• Salaires de base: 1,1 milliard de dollars
• Avantages et bonus: 350 millions de dollars
• Formation et développement: 150 millions de dollars

Dépenses opérationnelles de marketing et de vente

Les coûts de marketing et d'exploitation des ventes pour 2023 ont atteint 512 millions de dollars:

Catégorie de dépenses	Coût annuel
Marketing numérique	187 millions de dollars
Opérations de l'équipe de vente	225 millions de dollars
Technologie marketing	100 millions de dollars

Lumen Technologies, Inc. (LUNM) - Modèle d'entreprise: Strots de revenus

Abonnements du service de connectivité d'entreprise

T2 2023 Revenu du segment d'entreprise: 2,81 milliards de dollars

Catégorie de service	Revenus annuels
Services réseau	1,45 milliard de dollars
Services vocaux	652 millions de dollars
Services à large bande	703 millions de dollars

Services de réseau gérés

2023 Revenus de services gérés: 1,37 milliard de dollars

• Gestion dédiée des infrastructures de réseau
• Services SD-WAN
• Offres de sécurité en tant que service

Licence de solution de cybersécurité

2023 Services de sécurité Revenus: 328 millions de dollars

Produit de sécurité	Revenus de licence
Détection des menaces	127 millions de dollars
Protection des réseaux	98 millions de dollars
Solutions de conformité	103 millions de dollars

Services de plate-forme cloud et d'informatique Edge

2023 Revenus de services cloud: 542 millions de dollars

• Intégration du cloud public
• Solutions de nuages ​​hybrides
• Déploiements informatiques de bord

Frais de consultation en technologie professionnelle

2023 Services de consultation Revenus: 215 millions de dollars

Type de consultation	Revenu
Transformation numérique	89 millions de dollars
Stratégie technologique	76 millions de dollars
Services de mise en œuvre	50 millions de dollars

Lumen Technologies, Inc. (LUMN) - Canvas Business Model: Value Propositions

You're looking at the core value Lumen Technologies, Inc. (LUMN) delivers to its enterprise and public sector customers as of late 2025, which is centered on powering the AI economy.

High-speed, low-latency connectivity for demanding AI and cloud workloads

Lumen Technologies, Inc. (LUMN) is building the backbone for the AI economy by expanding its physical network to handle massive data processing demands.

The company has allocated more than $100 million in 2025 to bring high-speed connectivity up to 400Gbps across clouds, data centers, and metropolitan areas. The Lumen 400G-enabled network now spans more than 100,000 route miles. This infrastructure is designed with fiber that exhibits 25% less optical loss than competitors' fiber. The network achieves latency less than five milliseconds at the edge, covering up to 97% of U.S. business demand. The overall goal is to add 34 million new intercity fiber miles by the end of 2028, resulting in a total of 47 million intercity fiber miles. So far in 2025, Lumen has already deployed over 2.2 million new intercity fiber miles, with a projection to reach 16.6 million total by year-end 2025.

Consumption-based Network-as-a-Service (NaaS) for on-demand agility

The shift to a digital platform is showing tangible customer adoption metrics, moving away from legacy services. The company is scaling its Network-as-a-Service (NaaS) platform and Private Connectivity Fabric (PCF).

Here's a look at the growth in the digital segment as of the third quarter of 2025:

Metric	Value/Change	Context
Active NaaS Customers	32% growth Quarter-over-Quarter (QoQ)	Rapid customer adoption of on-demand services.
Deployed Fabric Ports	30% rise QoQ	Indicates increased utilization of the core digital fabric.
Services Sold	36% increase	Reflects deeper service attachment on the platform.
New PCF Bookings (Q3 2025)	$1 billion	Total PCF deal value is now $10 billion+.
'Grow' Revenue Share (NA Enterprise)	50% of North America enterprise revenue	Up from ~35.5% three years ago.

The Internet On-Demand (IoD) service is expanding its reach to over 10 million off-net locations.

Secure, resilient network solutions integrated with cloud platforms (e.g., Microsoft Sentinel)

Lumen Technologies, Inc. (LUMN) is embedding security and resilience directly into its network offerings, often through key partnerships. The company has announced expanded cloud protection for AWS customers. Furthermore, it is offering a managed threat detection service in partnership with Microsoft. These integrations help enterprises secure their data as it moves across the network and into multi-cloud environments.

Simplifying telecom complexity through a digital, composable platform

The value proposition here is stripping away the complexity of legacy networking by turning the fiber footprint into a programmable digital platform. This is supported by operational execution milestones. The company successfully implemented Phase I of its Enterprise Resource Planning (ERP) system. Lumen Technologies, Inc. (LUMN) is targeting annualized cost savings of $350 million by the end of 2025 as part of its modernization program. The company plans to reduce its gross debt by over 35% to $13.2 billion following the anticipated close of its consumer fiber sale to AT&T in early 2026. This simplification is also expected to reduce annual interest expenses by nearly 50% to approximately $700 million by 2026.

Carrier-grade performance engineered for AI and multi-cloud environments

The network upgrades are specifically engineered to support the high-bandwidth, low-latency needs of AI workloads. The company has added 5.9+ Pbps of total capacity to its network so far in 2025. This buildout is supported by a healthy balance sheet position as of September 30, 2025, with cash and cash equivalents of $2.401 billion. The third quarter 2025 Adjusted EBITDA was $787 million, representing a margin of 25.5%. The company also delivered Free Cash Flow, excluding Special Items, of $1.661 billion in the third quarter of 2025.

Lumen Technologies, Inc. (LUMN) - Canvas Business Model: Customer Relationships

You're looking at how Lumen Technologies, Inc. (LUMN) interacts with its clients as they push hard into the AI and multi-cloud infrastructure space. The focus has clearly shifted from legacy service maintenance to enabling dynamic, on-demand digital experiences. Honestly, the numbers show a company betting big on a new way of doing business with its customers.

Digital, Self-Service Interactions via the Lumen Connect Portal

Lumen Technologies, Inc. is driving customers toward digital self-service, mirroring the ease of use found in pure cloud environments. This is evident in the rollout of new digital platforms designed for effortless management. For instance, they introduced the Lumen Connectivity Fabric in the first quarter of 2025, which is a set of network services that customers can manage remotely via the cloud. Also, in the second quarter of 2025, they launched the Lumen Connected Ecosystem, which lets customers purchase, provision, and manage their network services as easily as they handle their cloud solutions, like NaaS. Furthermore, the expansion of Internet On-Demand service made high-performance connectivity available within minutes to over 10 million new business locations as of late October 2025, which is the essence of digital, self-service interaction.

Dedicated Account Management for Large Enterprise and Hyperscaler Contracts

For the biggest accounts, the relationship is far from purely digital; it requires dedicated, high-touch engagement, especially given the scale of the infrastructure deals. Lumen Technologies, Inc. has secured over $10 billion in Private Connectivity Fabric (PCF) deals with major hyperscalers like Microsoft, Alphabet, and Amazon. These specific PCF agreements often involve providing hyperscalers with exclusive custom network infrastructure for their data center needs over a long period, sometimes up to 20 years. To support this, Lumen is on track to have 90% of hyperscaler on-ramp coverage by the end of 2025. While the Large Enterprise segment revenue was $752 million in the third quarter of 2025, down 1.2% year-over-year, the strategic focus remains on these high-value, long-duration relationships.

Here's a quick look at the Large Enterprise segment revenue trend:

Metric	Value (Q3 2025 or Latest Available)	Context
Large Enterprise Revenue (Q3 2025)	$752 million	Revenue for the segment in the third quarter of 2025.
PCF Deal Value Secured (as of late 2025)	Over $10 billion	Total value of Private Connectivity Fabric deals with hyperscalers.
PCF Contract Duration	Up to 20 years	Typical term length for custom network infrastructure deals with hyperscalers.
Hyperscaler On-Ramp Coverage (Target 2025)	90%	Targeted coverage for hyperscaler connectivity by year-end 2025.

Consumption-Based Model for NaaS, Moving Away from Long-Term Contracts

The Network-as-a-Service (NaaS) offering is the clearest example of moving to a consumption-based model, which is fundamentally different from traditional, long-term telecom contracts. This model allows customers to pay only for what they use, which is exactly what enterprises are asking for. The adoption curve is steep; Lumen's NaaS platform surpassed 1,500 customers by the third quarter of 2025, up from over 500 customers driving sales growth in Q1 2025. The number of customers purchasing one or more NaaS ports increased by 35% quarter-over-quarter, and the number of deployed ports for multi-cloud networking rose 31%. This shift is financially significant, as the NaaS platform achieves 80.4% direct margins, substantially higher than the 67-75% seen in legacy services. This pay-as-you-go approach is what's fueling the company's margin expansion story.

Partner-Led Co-Selling Model Through the Connected Ecosystem

Lumen Technologies, Inc. is actively building out its connected ecosystem to drive sales through partners, which is a key part of their go-to-market strategy. The channel is a meaningful source of new business, as a number of the 1,000+ NaaS customers were brought in through partners. This co-selling effort is integrated into their broader strategy to simplify service delivery and expand reach across various customer types, including midmarket, hyperscalers, and strategic Internet Service Providers (ISPs). The company's focus on the Lumen Connected Ecosystem, introduced in Q2 2025, is designed to formalize and enhance these partner relationships.

Key indicators of the digital/self-service and customer focus include:

• Customer satisfaction scores in all four enterprise segments improved YOY for four quarters in a row (as of early 2025 reports).
• Sales growth in North American Enterprise channels was over 15% YOY, with IP and Waves growing over 13% in 2024.
• New Ethernet and IP data service sales in major metro markets were enabled on a unified network architecture for 85% of new deals, reducing implementation costs by as much as 50% in some use cases.

Customer Obsession, Which They Defintely Prioritize

You can see the commitment to customer obsession woven into the executive messaging and operational metrics. Lumen President and CEO Kate Johnson has stated that customer obsession is core to who they are and is centered in everything they do. This isn't just talk; they are working to get each and every vice president at Lumen engaging directly with customers to hear more, understand more, and do better. This focus is also tied to their infrastructure upgrades, where they are driving the strongest utilization of their network assets in company history while creating substantial capacity for growth. For example, their total inter-city network capacity is planned to grow from 12 million fiber miles in 2022 to 47 million fiber miles by 2028. Finance: draft 13-week cash view by Friday.

Lumen Technologies, Inc. (LUMN) - Canvas Business Model: Channels

You're looking at how Lumen Technologies, Inc. gets its services-from the massive data center deals to the smaller, self-serve activations-into the hands of its customers as of late 2025. It's a mix of old-school direct selling and new digital storefronts, which is defintely where the focus is shifting.

Direct sales force targeting large and midmarket enterprises

The direct sales force is still crucial, especially for landing those massive Private Connectivity Fabric (PCF) agreements that are key to the AI strategy. These teams target the Large Enterprise and Midmarket segments directly. For example, in the third quarter of 2025, the Large Enterprise segment brought in $752 million in revenue, while the Midmarket segment contributed $488 million for that same period. The North American Enterprise Channels overall generated $1,718 million in revenue in the second quarter of 2025. The focus here is clearly on the 'Grow' offerings; North American Enterprise Grow revenue was up 10.5% year-over-year in Q3 2025. The big wins are the PCF deals, with over $10 billion in contracts signed to date, which Lumen expects will yield a recurring revenue stream between $400 million and $500 million by the time the company exits 2028.

Digital self-service portal (Lumen Connect) for frictionless activation

The push for digital self-service is centered around the Network-as-a-Service (NaaS) platform, which is designed for instant activation and control. This is where the future of frictionless ordering lives. As of August 2025, Lumen announced it had surpassed 1,000 customers on its NaaS platform, and by the third quarter earnings call, that number had grown to more than 1,500 enterprise customers since the platform's launch. The adoption metrics show strong momentum; in the second quarter of 2025, the number of customers purchasing one or more NaaS ports was up 35% quarter-over-quarter, and total active NaaS ports were up 31% over the same period. This digital focus is a deliberate move to 'cloudify' telecom services.

Cloud marketplaces (AWS Marketplace) for security and network services

Lumen Technologies is embedding its services directly where the hyperscalers operate, turning visibility into a channel itself. This is about making security and connectivity instantly available within the customer's existing cloud environment. The company recently launched Lumen Defender Managed Rules for AWS Network Firewall, making its Black Lotus Labs threat intelligence available as a subscription service inside AWS Marketplace. A similar managed detection and response offering was launched for Microsoft customers. These marketplace plays build on the foundation of the massive Private Connectivity Fabric (PCF) deals signed with hyperscalers like Amazon, Microsoft, and Google, which totaled $8.5 billion as of the end of 2024.

Partner ecosystem for extended reach and joint solutions

The partner ecosystem is designed to extend the reach of the digital platform, allowing solution providers to attach Lumen capabilities to their own offerings. Channel professionals are seeing the value in these automated platforms, and a number of Lumen's NaaS customers have come in through this channel. The company is actively building out this reach, reporting in late 2025 that it is rapidly building a connected ecosystem with dozens of early adopter tech partners to accelerate time to value with joint customers.

Wholesale channel for carrier-to-carrier connectivity services

The wholesale channel remains a significant, albeit shrinking, part of the revenue mix, serving carrier-to-carrier needs. In the third quarter of 2025, Wholesale revenue declined approximately 7.6% year-over-year. To give you a sense of scale, in the fourth quarter of 2024, Wholesale revenue was $716 million, which represented a 5% slump compared to the year-ago quarter. For the full year 2024, Wholesale revenue declined 9% overall.

Here's a quick look at how the key enterprise and wholesale segments stacked up in Q3 2025:

Channel/Segment	Q3 2025 Revenue (Millions USD)	Year-over-Year Change (Approximate)
North American Enterprise Channels (Total)	Data Unavailable (Q2 2025: $1,718 million)	Declined approximately 1% (Q3 YoY)
Large Enterprise Segment	$752 million	Declined 1.2% (YoY)
Midmarket Enterprise Segment	$488 million	Declined 10% (YoY)
Wholesale Revenue	Data Unavailable (Q4 2024: $716 million)	Declined approximately 7.6% (YoY)

The digital channel's growth is clear from the NaaS metrics reported in Q2 2025:

• Total active NaaS ports growth (Q2 vs Q1 2025): 31%
• Customers purchasing one or more NaaS ports growth (Q2 vs Q1 2025): 35%
• Total active NaaS services growth (Q2 vs Q1 2025): 22%

Finance: draft 13-week cash view by Friday.

Lumen Technologies, Inc. (LUMN) - Canvas Business Model: Customer Segments

You're looking at the customer base Lumen Technologies, Inc. is focusing on as it completes its enterprise pivot, especially with the planned sale of its consumer arm.

Hyperscalers (e.g., Microsoft, Google, Amazon) for PCF infrastructure

This group is central to Lumen Technologies, Inc.'s future growth narrative, tied directly to AI infrastructure build-out.

• Lumen Technologies, Inc. secured $8.5 billion in AI-driven networking contracts with hyperscalers in the year leading up to May 2025.
• Total Private Connectivity Fabric (PCF) deal value reached $10 billion+ as of October 2025.
• The plan was to grow network utilization generated by hyperscalers from 30% in 2022 to 45%.

Large Enterprise customers requiring secure, high-bandwidth WAN/cloud services

This segment is a core focus, with growth coming from the 'Grow' portfolio, even as legacy services decline.

North American enterprise channels revenue, excluding wholesale, international, and other, declined by approximately 1% in the third quarter of 2025. However, North American enterprise grow revenue increased 10.5% year-over-year in Q3 2025.

Here's a look at the reported revenue for the first quarter of 2025 for the enterprise components:

Customer Sub-Segment	Q1 2025 Revenue (Millions USD)	Q1 2024 Revenue (Millions USD)
Large Enterprise	$737	$765
Mid-Market Enterprise	$513	$577

Midmarket Enterprise seeking simplified, on-demand network solutions (NaaS)

The Network as a Service (NaaS) offering is a key part of the strategy here, aiming for simplicity and on-demand deployment.

• The number of active NaaS customers grew by 32% from the previous quarter in Q3 2025.
• Total active NaaS ports increased by 31% in the same period.
• The Mid-Market Enterprise segment revenue was $513 million in Q1 2025.

Government agencies and public sector entities

This segment shows strong growth in its 'Grow' offerings, though overall revenue can be lumpy.

Public Sector revenue was $483 million in the first quarter of 2025. The Public Sector grow revenue saw an increase of 10.1% in Q1 2025. Still, anticipated declines in Public Sector harvest revenue impacted Adjusted EBITDA margins in Q3 2025.

Mass Market/Consumer (divestiture to AT&T expected early 2026)

This segment is being sold off, but its recent metrics show the scale of the divested asset.

Lumen Technologies, Inc. agreed to sell this business to AT&T for $5.75 billion in cash. The transaction is targeted to close in the first half of 2026.

Key metrics for the Mass Markets segment as of Q3 2025:

• Mass Market segment revenue declined 7.7% year-over-year to $631 million.
• Quantum Fiber subscribers reached approximately 1.2 million as of September 30, 2025.
• Quantum Fiber penetration stood at approximately 26% at the end of Q1 2025.
• The divested business was expected to contribute more than $750 million in annualized revenues based on first-quarter 2025 figures.

Lumen Technologies, Inc. retains its existing copper network servicing consumers.

Lumen Technologies, Inc. (LUMN) - Canvas Business Model: Cost Structure

You're looking at the core expenditures Lumen Technologies, Inc. faces to run and transform its massive network infrastructure. Honestly, for a company with a global fiber footprint, the cost structure is dominated by things you can't easily turn off.

High Fixed Costs from Maintaining the Global Fiber Network and Infrastructure

The sheer scale of the network dictates high fixed costs. Lumen Technologies, Inc. operates a fiber optic network encompassing a total distance of 450,000 route miles. This infrastructure requires continuous investment, especially as the company pushes to expand its backbone for the AI economy. Lumen is advancing a multi-year project aiming to add 34 million new intercity fiber miles by the end of 2028, targeting a total of 47 million intercity fiber miles. For 2025 alone, the company added over 2.2 million new intercity fiber miles, projecting a total of 16.6 million by year-end 2025. This build involves constructing signal boosters at 176 In-Line Amplifier (ILA) sites and completing indefeasible right-of-use conduit deployments on 55 additional routes.

Significant Debt Servicing Costs

Servicing the debt load is a major ongoing expense, though recent actions are providing relief. Lumen Technologies, Inc. plans to cut annual interest expenses by nearly 50% by 2026. Following the planned sale of its mass-market fiber business to AT&T, annualized interest expense is projected to be about $700 million. Recent refinancing efforts have already yielded savings; one transaction reduced annual interest expenses by $24 million, and another refinancing reduced annual interest expense by an additional $10 million. Separately, another debt refinancing reduced interest costs by approximately $50 million annually. For the 2025 fiscal year, cash interest payments were estimated at a net $1.2-$1.3 billion.

Capital Expenditures and Operating Expense Targets

The investment required for modernization and network expansion is substantial, balanced by targeted cost reductions. You can see the key 2025 figures here:

Cost Category	2025 Guidance/Target	Context/Comparison
Total Capital Expenditures (CapEx)	$4.1 billion to $4.3 billion	Expected to be near the low end of the range. Up from $3.2 billion in 2024.
Run-Rate Operating Expense Savings (Modernization)	$350 million	Targeted yearly savings by the end of 2025. Increased from a previous target of $250 million.
Total Identified OpEx Savings (Long-Term)	$1 billion	Goal by 2027.

The company's Q4 2024 capital expenditure was $915 million.

Managing Declining Legacy Services

The cost structure must also absorb the impact of managing legacy services that are shrinking. Lumen Technologies, Inc.'s Q4 2024 total revenue was $3.329 billion, representing a 5.3% decline year-over-year. The Business segment revenue saw a 5.1% decline in Q4 2024, partly due to legacy product declines. The Mass Markets business contributed sales of $670 million in Q4 2024, down from $715 million a year prior. Overall, the company has experienced a 3-year revenue growth decline of 10.4%.

The company's operating margin was 3.21%, a significant drop from its historical median of 14.51%.

Finance: draft 13-week cash view by Friday.

Lumen Technologies, Inc. (LUMN) - Canvas Business Model: Revenue Streams

You're looking at the core ways Lumen Technologies, Inc. (LUMN) is generating cash right now as they push this massive transformation. The revenue streams are clearly split between the shrinking legacy business and the growing, high-value digital services.

For the most recent snapshot, Q3 2025 Total Revenue came in at $3.087 billion, which actually beat the consensus estimates you were watching. That top-line number shows the ongoing pressure from legacy services, but the real story is where the growth is coming from.

Here's a quick look at how the business segments were shaping up based on recent filings and commentary:

Revenue Category/Metric	Latest Reported Value	Context/Date Reference
Q3 2025 Total Revenue	$3.087 billion	Q3 2025 Result
North America Business Revenue (Q3 2025)	$2.376 billion	Declined 3% Year-over-Year
Mass Markets Revenue (Q3 2025)	$631 million	Dropped 8% Year-over-Year
Grow Segment Revenue Share	50%	Of North American enterprise revenue (Q3 2025)
Total Private Connectivity Fabric (PCF) Deals Signed	Over $10 billion	Total value secured as of October 2025
New PCF Deals Signed (October 2025)	$1 billion	Additional bookings

The Enterprise services, which Lumen groups into the 'Grow' segment-think Network-as-a-Service (NaaS), security, and cloud offerings-are becoming the dominant part of the enterprise mix. Honestly, this is where the future value is being built. As of Q3 2025, these services now account for 50% of North American enterprise revenue. That's a big jump from about 35.5% just three years ago.

The Recurring revenue from Private Connectivity Fabric (PCF) contracts is a massive future anchor, primarily with hyperscalers. You know these are those long-term, custom network deals for AI infrastructure. The total value locked in is now over $10 billion, with an additional $1 billion signed in October alone. While the immediate revenue hit is still ramping up, management expects these existing PCF contracts to generate a recurring revenue stream ranging between $400 million and $500 million by the time they exit 2028.

Then you have the Legacy telecom services, which fall under the 'Harvest' segment. This is the part that's shrinking, including things like voice and copper-based services. For context, the Harvest segment represented about 16 percent of Lumen's Q1 2025 business revenues and was declining at a rate of 9.8 percent. The Q3 2025 Mass Markets revenue, which is heavily influenced by these legacy services, fell to $631 million, an 8% drop year-over-year.

Looking ahead, management is sticking to its full-year 2025 financial targets, which is a good sign of execution control. The Full-year 2025 Adjusted EBITDA guidance is expected near the high end of the range of $3.2 billion to $3.4 billion. Finance: draft the 13-week cash flow view incorporating the Q3 FCF of $1.661 billion by Friday.