T-Mobile doesn't want you to know how it's actually doing, thanks
T-Mobile sends shockwaves through the industry with new reporting policy.
Starting this quarter, T-Mobile will stop disclosing postpaid phone net adds, a figure representing the total change in its customer base over a set period. The carrier will instead only report net account adds. This has come as something of a shock to industry observers.
Postpaid phone adds track every individual phone line, providing an easy way to compare performance against carriers. T-Mobile defended the pivot by noting that 90% of its lines belong to multi-line accounts, and most of its customers also use tablets, watches, and broadband services. That's why the company thinks reporting at the account level offers a more accurate reflection of how customers use its services.
Analysts who crunch numbers are not happy about this change, with many drawing parallels to Netflix's decision to stop reporting subscriber numbers.
The shift in reporting behavior might be viewed by some as a tactical move to mask fluctuating performance in an intensely competitive market. Without the net adds figure, it will be difficult to assess how T-Mobile is doing compared to AT&T and Verizon, who told Fierce Wireless they will continue reporting those numbers.
Companies usually choose to highlight the metrics that make them look good, and T-Mobile's decision implies that subscriber growth is losing steam.
The telecom market has matured, which means continuing the growth streak is not easy for T-Mobile. Verizon, under new CEO Dan Schulman, is posing another challenge by aggressively competing for customers.
T-Mobile, AT&T, and Verizon have all shifted their focus to providing converged services — the bundling of mobile and internet services — to continue growing.
T-Mobile is also exploring other growth opportunities, including rolling out its Visa credit card.
The Un-carrier's move doesn't necessarily point to a lack of transparency. The company will continue reporting accounts, Average Revenue Per Account (ARPA) and churn rate, so it's not getting rid of subscriber numbers like Netflix. It's just shifting its focus from individuals to households and businesses.
The company did provide guidance for 2026, saying it expects 2.5 million postpaid phone net adds, which are below the 3.3 million postpaid phone net adds from last year.
When the year concludes, though, there will be no official way to know if the company met the goal. The carrier has historically provided conservative estimates and overperformed.
After the topsy-turvy three quarters that Verizon had last year, T-Mobile was expected to overtake it as the number one carrier by subscriber count. In Q3, T-Mobile added 1 million postpaid customers, while Verizon lost 7,000 subscribers.
But Verizon ended 2025 on a strong note with 616,000 net subscribers in Q4. T-Mobile outperformed it by adding 962,000 customers.
Regardless, with Verizon having come out of the trenches and fiercely defending its lead, T-Mobile has seemingly given up hopes of ascending to the top.
As T-Mobile's CEO Srini Gopalan said recently, its early rollout of a 5G standalone (SA) network gave it an edge in attracting customers. With that advantage waning, the market saturating, and its rivals stepping up, the company can no longer hope to grow at the same pace as before.
No more granular insights
Postpaid phone adds track every individual phone line, providing an easy way to compare performance against carriers. T-Mobile defended the pivot by noting that 90% of its lines belong to multi-line accounts, and most of its customers also use tablets, watches, and broadband services. That's why the company thinks reporting at the account level offers a more accurate reflection of how customers use its services.
These are really families and businesses, that's the fundamental way in which consumers buy.
Srini Gopalan, T-Mobile CEO, February 2026
Analysts who crunch numbers are not happy about this change, with many drawing parallels to Netflix's decision to stop reporting subscriber numbers.
The shift in reporting behavior might be viewed by some as a tactical move to mask fluctuating performance in an intensely competitive market. Without the net adds figure, it will be difficult to assess how T-Mobile is doing compared to AT&T and Verizon, who told Fierce Wireless they will continue reporting those numbers.
We understand the logic presented by management, but we think this was the wrong time to move away from postpaid phone net adds disclosure. With competition heating up, detractors will point to this change as management trying to hide subscriber performance.
David Barden, Street Research analyst, February 2026
Companies usually choose to highlight the metrics that make them look good, and T-Mobile's decision implies that subscriber growth is losing steam.
The telecom market has matured, which means continuing the growth streak is not easy for T-Mobile. Verizon, under new CEO Dan Schulman, is posing another challenge by aggressively competing for customers.
T-Mobile is also exploring other growth opportunities, including rolling out its Visa credit card.
The Un-carrier's move doesn't necessarily point to a lack of transparency. The company will continue reporting accounts, Average Revenue Per Account (ARPA) and churn rate, so it's not getting rid of subscriber numbers like Netflix. It's just shifting its focus from individuals to households and businesses.
The company did provide guidance for 2026, saying it expects 2.5 million postpaid phone net adds, which are below the 3.3 million postpaid phone net adds from last year.
When the year concludes, though, there will be no official way to know if the company met the goal. The carrier has historically provided conservative estimates and overperformed.
No longer expecting to beat Verizon?
After the topsy-turvy three quarters that Verizon had last year, T-Mobile was expected to overtake it as the number one carrier by subscriber count. In Q3, T-Mobile added 1 million postpaid customers, while Verizon lost 7,000 subscribers.
Regardless, with Verizon having come out of the trenches and fiercely defending its lead, T-Mobile has seemingly given up hopes of ascending to the top.
What does T-Mobile's new policy imply?
What went wrong?
As T-Mobile's CEO Srini Gopalan said recently, its early rollout of a 5G standalone (SA) network gave it an edge in attracting customers. With that advantage waning, the market saturating, and its rivals stepping up, the company can no longer hope to grow at the same pace as before.
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