Telephone and Data Systems reported $74.5M of remaining performance obligations at 31 Dec 2025, down 86% from a year earlier. That is 0.1 years of trailing revenue already under contract.
Over the last twelve months it turned about 235% of its opening backlog into revenue (12-month conversion).
45% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 53.6% of the backlog.
Twelve-month book-to-bill: 0.64, i.e. 0.64 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -80 points — revenue is catching up with orders.
The latest filed figure is more than 200 days old.
Telephone and Data Systems backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
31 Dec 2025
$74.5M
$1.23B
0.1 yrs
$39.9M
30 Jun 2025
$486M
n/a
n/a
$366M
31 Mar 2025
$502M
n/a
n/a
$372M
31 Dec 2024
$523M
$1.30B
0.4 yrs
$48.8M
30 Sep 2024
$508M
n/a
n/a
$359M
30 Jun 2024
$595M
n/a
n/a
$379M
31 Mar 2024
$584M
n/a
n/a
$380M
31 Dec 2023
$596M
$1.36B
0.4 yrs
$380M
30 Sep 2023
$603M
$5.21B
0.1 yrs
$373M
30 Jun 2023
$641M
$5.32B
0.1 yrs
$389M
31 Mar 2023
$686M
$5.40B
0.1 yrs
$390M
31 Dec 2022
$689M
$5.41B
0.1 yrs
$395M
Questions
What is Telephone and Data Systems's backlog?
Telephone and Data Systems reported $74.5M of remaining performance obligations at 31 Dec 2025, down 86% from a year earlier. That is 0.1 years of trailing revenue already under contract.
How fast does Telephone and Data Systems's backlog turn into revenue?
Over the last twelve months Telephone and Data Systems recognised revenue equal to about 235% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.