Despite slow subscription growth, Bait turns a profit

Walmart’s Mobile Virtual Network Operator (MVNO), Bait, has positioned itself as one of the fastest-growing players in the mobile market, but the phone registration process slowed its momentum.

By the second quarter of 2026, it had reached 26.8 million active users, representing 25% year-over-year growth, after adding 2.8 million subscribers to the 21.5 million it had during the same period last year.

However, on a quarter-over-quarter basis, Walmart’s MVNO added only 200,000 users, rising from 26.6 million in the first quarter of the year to 26.8 million in the second, indicating a slowing growth rate.

This shift in momentum coincides with the implementation of new regulations for registering phone lines, a factor that may have raised barriers to signing up for new mobile services and moderated the pace of customer acquisition.

One of the company’s goals is to become the second-largest player in the national mobile market. To that end, it will expand its physical presence this year by opening 100 Experience Centers nationwide, although it did not disclose the investment allocated to this strategy.