NEW
ERA Of Un‑Carrier
2022 Record
Breaking
Year
2022 was a record-breaking year for T‑Mobile. We welcomed more new customers to the Un-carrier than ever before in our history, and we translated this customer growth into industry-leading financial growth.
We also rewrote the competitive dynamic in U.S. wireless, as T‑Mobile becomes the first company in our space to simultaneously offer both America's best network AND best value―eliminating the forced choice that has confounded wireless customers for decades.
We accomplished all this while successfully completing our Sprint customer migration and network shutdown, and building on our 5G leadership to become what independent experts now recognize as America's overall network leader.
We also proved that our differentiated investment and accelerated growth strategy is working. As we head into 2023, we're excited about this New Era of Un‑carrier, and we're better positioned than ever to deliver on our mission to be the best in the world at connecting customers to their world.
We love our customers. 2022 proved they love us back.
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1.4MPostpaid Net Account Additions
Leading the industry*
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6.4MPostpaid Net Customer Additions
Above high-end of 2022 guidance
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3.1MPostpaid Phone Net Customer Additions
Our highest since the Sprint merger
*AT&T Inc. historically does not disclose postpaid net account additions.
In 2022, T‑Mobile posted a record-breaking 1.4M postpaid net account additions—the highest in company history and the highest reported in the industry. We also won the greatest share of switching decisions, as more new customers joined the Un‑carrier in droves. And, for the eighth consecutive year, we led the industry in postpaid net additions, delivering 6.4M—including 3.1M postpaid phone net customer additions—our highest since the merger with Sprint.
Not only did we attract more new customers in 2022, but customer retention was at an all-time high, translating into our best postpaid phone churn in company history at just 0.88%. T‑Mobile was the only provider in U.S. wireless to see year-over-year improvement in this critical measure of customer satisfaction and loyalty.
Beyond that, we posted 2M high-speed internet net customer additions, making T‑Mobile the fastest growing broadband provider in America in our first full year since launch. In total, we closed out 2022 with 2.6M high-speed internet customers.
Growth + Profitability
In 2022, T‑Mobile not only delivered industry-leading customer growth but also our strongest financial results EVER. And our focus on profitable growth translated into our industry-best financial performance: Postpaid Service Revenue (up 8% to $45.9B), Core Adjusted EBITDA (up 12% to $26.4B), and Free Cash Flow (up 36% to $7.7B).
Also in 2022, we were able to launch a stock buyback program to repurchase up to $14B of TMUS common stock through September 30, 2023, which was well ahead of our original timeline.
As a reflection of the confidence in the Un‑carrier's strong operational and financial performance and customer-first focus, the company achieved an important milestone last year: securing its first ever full investment-grade rating. It's important to note that all of this was achieved while funding our peak CapEx year in 2022.
As we look ahead to 2023, we're confident in our differentiated strategy, and we're on track to meet all the aspirations we've set for the year ahead.
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Service Revenues $61.3B
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Postpaid Service Revenues $45.9B
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Net Income $2.6B
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Core Adjusted EBITDA $26.4B
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Net Cash $16.8B Provided by operating activities
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Free Cash Flow $7.7B
Core Adjusted EBITDA and Free Cash Flow are non-GAAP financial measures. Definitions, explanations, and reconciliations to the most directly comparable GAAP measures are provided in our annual report on Form 10-K for the year ended December 31, 2022.
In 2022, our brand continued driving record results, which in turn powered even bigger, bolder brand moments. We plan to keep it up.
Bold Moves Bold Brand
For nearly 10 years, the Un‑carrier has been all about fixing a broken wireless industry, listening to customers, and finding solutions to their problems—forcing the industry to follow. Last year, our disruption continued as we announced many of our biggest, boldest Un‑carrier moves to date.
In T‑Mobile's first Un‑carrier move since the Sprint merger, we declared Internet Freedom, taking our customer-first disruption to broadband, showing the least-satisfied customers in America what it means to finally feel loved.
We elevated our fame for value with Price Lock, guaranteeing we won't raise rates for talk, text, and data for customers who switch to T‑Mobile.*
We also launched Coverage Beyond with free high-speed data in 215+ countries and destinations, and free in-flight connectivity and streaming all flight long on the biggest U.S. airlines. Then we took it to the next level, announcing Coverage Above & Beyond—a breakthrough vision to bring cell phone connectivity everywhere.
The Un‑carrier—and as a result the T‑Mobile brand—is a force to be reckoned with, and competitors are trying to keep up. But don't just take our word for it. Our amazing customer results in 2022 speak for themselves, and our net promoter scores were the highest in the industry!
*Excluding taxes and fees.
America's New Network Leader. Powered by 5G.
T‑Mobile made smart investments in a 5G future and established an unrivaled early lead that delivered America's largest, fastest, most awarded 5G network years ahead of the competition. Now, according to a growing number of third-party reports, those early investments have paid off, and T‑Mobile is being recognized as, not only the leader in 5G, but as America's overall network leader.
As of the end of 2022:
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T‑Mobile's 5G network covered 325M people (98% of Americans).
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263M people nationwide were covered by our super-fast Ultra Capacity 5G.
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Approximately two-thirds of our network traffic was riding on T‑Mobile 5G.
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Approximately 60% of postpaid customers were using a 5G phone.
America's Largest Fastest Most Awarded 5G Network
Map illustrating 4G LTE, 5G Extended Range, and 5G Ultra Capacity network coverage across the USA and Puerto Rico.
Extended Range 5G includes dedicated low-band 5G signals & Ultra Capacity 5G includes dedicated mid- and/or high-band 5G signals. Capable device required. Some uses may require certain plan or feature; see
- T‑Mobile is America's most awarded 5G network, with the most individual awards for nationwide 5G metrics in public reports from independent experts.
- Fastest: Based on analysis by Ookla® of Speedtest Intelligence® data of national Speed Score results incorporating 5G download and upload speeds for 2H 2024. See 5G device, coverage, & access details at
T-Mobile .com.
Supercharging 5G Innovation
In early 2022, T‑Mobile announced 5G Forward, a series of bold moves designed to drive 5G innovation. These and other initiatives are all aimed at creating a 5G ecosystem to meet innovators where they are—from ideation to incubation, prototyping, and beyond.
As cofounder of the 5G Open Innovation Lab, we're building a global applied innovation ecosystem of developers, corporate enterprises, academia, and government institutions, working together with early- and mid-stage ventures to fuel the development of game-changing new capabilities.
Through T‑Mobile Accelerator, an immersive technology program, we're supporting start-ups and spurring the development of exciting new applications.
The Tech Experience 5G Hub in Bellevue, Washington, provides a 24,000 square-foot collaborative workspace and a lab for innovators to develop new products and services for 5G.
With the T‑Mobile Ventures multi-stage investment fund, we help fuel companies in the development of core technologies, products, and services unlocking the power of 5G.
With our unmatched 5G network as the foundation, T‑Mobile will continue to build out our facilities and programs to accelerate 5G innovation and build on our overall network leadership.
Expectations Exceeded
We've set a new benchmark for what a successful merger looks like.Nearly three years in, we've done exactly what we said we'd do: create more competition in the marketplace and provide more choices and more value to consumers. When we closed our historic merger with Sprint, few outside T‑Mobile expected us to successfully complete our Sprint customer migration and network shutdown while also delivering our lowest postpaid phone churn in company history. But in 2022, we made it happen―more than a year ahead of plan.
These efforts contributed to significant growth in cash flow, which has supported our investments in customers, including an industry-best value proposition and building what is becoming, not just the best 5G network (as promised), but the best overall network in America, as recognized by several independent third parties.
Sprint Migration
100%By the end of 2022, nearly 100% of Sprint customers were migrated to the T‑Mobile network, and substantially all Sprint network sites were decommissioned.
Merger Synergies
$6BWe realized approximately $6B in merger synergies in 2022, on our way to an expected $8B in run-rate savings in 2024.
Growth Engines
Diversified. Differentiated. Durable.In this New Era of Un‑carrier, we're taking share in new areas like smaller markets and rural areas—which represent 40% of the U.S. population―and where we now have the winning hand. Thanks to our accelerated network build, we surpassed our year-end target for 2022, serving approximately 60% of households located in small and rural markets across America.
In the top 100 markets, T‑Mobile is also starting to win over prime network seekers who increasingly recognize that the Un-carrier offers the best combination of network coverage and capacity for their needs (and at a lower cost), with offerings like Price Lock, guaranteeing we won't raise rates for talk, text, and data for customers who switch to T‑Mobile.
In 2022, we also added 2M high-speed internet net customers in the first full year since our commercial launch. In fact, in the past year alone, T‑Mobile had more high-speed internet net customer additions than AT&T, Verizon, Comcast, and Charter combined.
With T‑Mobile for Business, more enterprise, government, and small business customers are choosing the Un-carrier than ever before. In 2022, new customer additions included the nine largest airlines, as well as several auto, financial, and retail companies.
As T‑Mobile's offerings attract more and more new customers, we're establishing―and maintaining―these new relationships for the long term, so we can continue to provide more value and additional services.
*Excluding taxes and fees.
We love our customers
Creating the best customer experience.
At T‑Mobile, we thrive on customer satisfaction and aim to provide the very best experiences our customers deserve. In 2022, it was this obsession with customer experience that drove us to bring our Retail and Care frontline teams together for the first time in history.
United as the new Consumer Group, our award-winning Team of Experts, made up of Retail and Customer Care employees in company-owned stores and Customer Experience Centers, were aligned under a shared vision of delivering best-in-class solutions that focus on anticipating customer needs and solving pain points.
By coordinating closely with each other and with our local network teams, our frontline works tirelessly to keep customers in their own backyard connected to those who matter most to them.
Reimagining retail.
This past year, we also began a new initiative to reimagine retail holistically by redefining the experiences we offer and bringing even more flexibility to customers. This purpose-built retail format strategy delivers curated in-store experiences, as well as products, services, and solutions tailored to local communities.
With brick-and-mortar stores making up the majority of our retail formats, we've also enabled our mobile fleet to provide retail and community services where they're needed most. From supporting customers impacted by natural disasters, to providing connectivity to underserved communities eager to experience the nation's largest, fastest, and most awarded 5G network, our retail teams are ready to serve customers from America's largest cities to its smallest towns.
As we enter a New Era of the Un‑carrier, we're committed to being an even greater force for good in our industry and the world. That means being the best at creating a connected world where everyone can thrive.
New Era. New Impacts.
Bridging the digital divide.
We believe access to connectivity is today's most critical driver of social equity.
That's why, in 2020, after the close of our Sprint merger, we launched Project 10Million, our $10.7B initiative aimed at helping close the digital divide in education by offering free internet connectivity and mobile hotspots to up to 10M eligible student households across the U.S. We also offer school districts free and heavily subsidized data plans as well as access to affordable laptops and tablets.
By the end of 2022, T‑Mobile had provided $4.8B in services and connected more than 5.3M students across the U.S. through Project 10Million and our other education initiatives.
Championing equitable opportunities.
Our people and communities are the heart and soul of the Un‑carrier. That's why we've always embedded Diversity, Equity, and Inclusion (DE&I) into all that we do―from hiring and development, to our award-winning culture and Equity In Action (EIA) plan.
Our EIA plan is a five-year roadmap for multi-faceted DE&I efforts across three focus areas: Talent, Culture, and Brand. By year-end 2022, we achieved more than half of our 54 EIA promises. We also invested millions in new programs focused on expanding opportunities for underserved communities and traditionally underrepresented racial and ethnic groups. This included:
- Funding scholarships for students attending Historically Black Colleges and Universities through Magenta Scholars
- Investing in job training and placement through NextTech Diversity
- Supporting small and minority-owned businesses with Magenta Edge
- Championing financial and digital literacy programming through the Human Rights Campaign Foundation
In recognition of our continued progress toward creating an equitable workplace, T‑Mobile was named Disability:IN Employer of the Year, a best place to work for LGBTQ+ employees by the Human Rights Campaign Corp Index for the tenth year in a row, and we received the Military Spouse Employment and Mentoring award from Hiring Our Heroes.
Mobilizing for our planet.
Because the connectivity we provide is so critical to our customers, we work hard to provide service everywhere they are—which has the potential of generating a significant environmental footprint. So, we've worked equally hard to directly address this challenge and build a more sustainable future.
T‑Mobile led the U.S. wireless industry as the first to set and achieve a 100% renewable energy goal*—even as our merger with Sprint greatly expanded our electricity needs. We achieved our science-based targets a full four years ahead of schedule.
In 2022, we took the lead again by becoming the first in the U.S. wireless industry to set a net-zero emissions goal (validated by the Science Based Targets Initiative)—across our ENTIRE carbon footprint by 2040.
In recognition of our efforts to drive positive environmental and social impacts, JUST Capital ranked T‑Mobile #20 on its list of America's Most JUST Companies—and we were ranked #1 in the telecommunications industry for environmental impact. We also received the 2022 Green Power Leadership award from the U.S. Environmental Protection Agency.
*For T‑Mobile's 100% renewable electricity commitment, please note that T‑Mobile matches its own annual electrical usage with renewable energy from a portfolio of sources including: virtual power purchase agreements, a green direct program, renewable retail agreements, and unbundled renewable energy certificate purchases.
We'll continue to dream big and deliver.
As we continue on our Un‑carrier journey, we remain fiercely committed to putting customers first and treating them right. We're resolved to grow our overall network lead. And we'll become an even greater force for good.
Our 2022 results are proof that our Un‑carrier playbook for today and the future is not only working, but that we're better positioned than EVER to keep growing profitably while doing what we do best—solving customer pain points.
We believe 2023 is the year we will begin to see the real payoff of all our hard work and results—across merger integration, synergies, the most ambitious network build in U.S. history, and more—with an incredible, durable roadmap ahead of us.
This 2022 Annual Report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements subject to risks and uncertainties that may cause actual results to differ materially. For more information, please see “Cautionary Statement Regarding Forward-Looking Statements” in our annual report on Form 10-K for the year ended December 31, 2022.