WideOpenWest : WOW! 4Q24 Trending Schedule

Published: 2025-03-14 07:10:09 ET WOW

Trending Schedule

Fourth Quarter 2024

WideOpenWest, Inc.

Customer Metrics Including Dispositions

(operating statistics in thousands)

2022

2023

2024

Homes Passed (EoP)1

1,886.0

1,885.7

1,892.6

1,905.6

1,932.2

1,948.5

1,956.7

1,952.2

1,962.1

Total Subscribers (EoP)2

530.6

527.3

522.4

517.4

504.1

500.7

495.2

490.5

478.7

Net Subscriber Additions / (Losses)

(2.3)

(3.3)

(4.9)

(5.0)

(13.3)

(26.5)

(3.4)

(5.5)

(4.7)

(11.8)

(25.4)

Subscriber Penetration (%)3

28.1%

28.0%

27.6%

27.2%

26.1%

25.7%

25.3%

25.1%

24.4%

RGUs (EoP)4

HSD

511.6

508.7

507.8

503.4

490.1

489.7

485.0

480.6

470.4

Video

123.2

117.1

110.0

100.8

90.8

79.3

71.6

66.3

60.6

Telephony

89.9

87.7

85.3

82.7

79.5

77.7

75.7

73.7

71.6

Total RGUs

724.7

713.5

703.1

686.9

660.4

646.7

632.3

620.6

602.6

Net Additions / (Losses)

HSD

(0.1)

(2.9)

(0.9)

(4.4)

(13.3)

(21.5)

(0.4)

(4.7)

(4.4)

(10.2)

(19.7)

Video

(27.4)

(6.1)

(7.1)

(9.2)

(10.0)

(32.4)

(11.5)

(7.7)

(5.3)

(5.7)

(30.2)

Telephony

(10.1)

(2.2)

(2.4)

(2.6)

(3.2)

(10.4)

(1.8)

(2.0)

(2.1)

(7.9)

Total Net Additions / (Losses)

(37.6)

(11.2)

(10.4)

(16.2)

(26.5)

(64.3)

(13.7)

(14.4)

(11.7)

(18.0)

(57.8)

Penetration (%)3

HSD

27.1%

27.0%

26.8%

26.4%

25.4%

25.1%

24.8%

24.6%

24.0%

Video

6.5%

6.2%

5.8%

5.3%

4.7%

4.1%

3.7%

3.4%

3.1%

Telephony

4.8%

4.7%

4.5%

4.3%

4.1%

4.0%

3.9%

3.8%

3.6%

Page 1

WideOpenWest, Inc.

Revenue and Adjusted and Transaction Adjusted EBITDA

($ in millions)

2022

2023

2024

3Q(a)

4Q(b)

Revenue

HSD Subscription

412.1

105.2

106.7

109.8

108.7

430.4

106.2

105.0

107.5

104.9

423.6

Video Subscription

185.2

42.1

41.6

38.9

35.0

157.6

31.8

30.8

28.0

25.6

116.2

Telephony Subscription

51.4

12.1

11.6

11.8

47.6

11.0

10.7

10.5

9.8

42.0

Total Subscription

648.7

159.4

160.4

160.3

155.5

635.6

149.0

146.5

146.0

140.3

581.8

Other Business Services

21.2

5.2

5.1

5.4

5.3

21.0

5.3

5.0

4.5

4.8

19.6

Other Revenue5

35.0

7.6

7.1

7.4

8.0

30.1

7.2

7.3

7.5

29.5

Total

704.9

172.2

172.6

173.1

168.8

686.7

161.5

158.8

158.0

152.6

630.9

Subscription Revenue Subtotal

Residential Subscription

537.7

131.6

132.2

132.1

127.3

523.2

121.0

118.5

117.4

112.4

469.3

Business Services Subscription

111.0

27.8

28.2

112.4

28.0

28.6

27.9

112.5

Total Subscription Revenue

648.7

159.4

160.4

160.3

155.5

635.6

149.0

146.5

146.0

140.3

581.8

Adjusted EBITDA

Adjusted EBITDA 6

280.1

65.2

68.1

70.9

71.2

275.4

67.4

70.0

77.3

73.7

288.4

Adjusted EBITDA Margin 14

39.7%

37.9%

39.5%

41.0%

42.2%

40.1%

41.7%

44.1%

48.9%

48.3%

45.7%

Transaction Adjusted EBITDA

294.3

68.2

70.0

72.0

71.8

282.0

68.0

70.0

77.3

73.7

289.0

Transaction Adjusted EBITDA Margin

41.8%

39.6%

40.6%

41.6%

42.5%

41.1%

42.1%

44.1%

48.9%

48.3%

45.8%

Notes:

Page 2

WideOpenWest, Inc.

Market Expansion(a) (operating statistics in thousands)

2022

2023

2024

Home Passed (EoP)1

81.1

85.6

92.8

106.7

129.6

147.7

156.6

158.3

169.9

Total Subscribers (EoP)2

20.3

21.2

23.2

25.8

28.1

32.2

35.8

38.1

40.0

RGUs (EoP)4

HSD

20.2

21.1

22.9

25.6

27.9

31.9

35.6

37.8

39.8

Video

6.9

7.0

7.1

7.2

7.3

7.4

Telephony

2.9

3.1

3.6

3.8

4.2

4.6

4.8

5.0

Total RGUs

30.0

30.9

33.0

36.2

38.8

43.3

47.5

50.0

52.2

GREENFIELD

Home Passed (EoP)

1.7

4.0

14.1

30.4

45.5

52.5

52.6

61.9

Total Subscribers (EoP)

0.4

0.8

1.7

3.0

5.7

8.1

9.2

10.3

Total Penetration

23.5%

20.0%

12.1%

9.9%

12.5%

15.4%

17.5%

16.6%

Average Days Active

135

204

295

333

2022 EDGE OUT

Home Passed (EoP)

2.9

Total Subscribers (EoP)

0.6

0.8

0.9

Total Penetration

20.7%

27.6%

31.0%

Average Days Active

135

225

332

405

497

588

679

772

863

2023 EDGE OUT

Home Passed (EoP)

2.8

7.7

11.4

18.0

18.5

Total Subscribers (EoP)

0.3

1.8

3.4

4.4

5.0

5.3

5.5

5.7

Total Penetration

10.7%

23.4%

29.8%

24.4%

27.0%

28.6%

29.7%

30.8%

Average Days Active

141

163

248

340

432

524

2024 EDGE OUT

Home Passed (EoP)

2.5

4.4

6.0

8.3

Total Subscribers (EoP)

0.8

1.7

2.7

3.3

Total Penetration

32.0%

38.6%

45.0%

39.8%

Average Days Active

139

181

Notes:

(a) Customer metrics attributable to Edge Out expansion projects are a subset of overall customer metrics presented on page 1.

Page 3

WideOpenWest, Inc.

Capital Expenditures

($ in millions)

2022

2023

2024

Capital Expenditures: Components

Customer Premise Equipment (CPE)7

64.6

16.2

15.8

16.3

17.4

65.7

18.6

15.8

20.0

16.8

71.2

Scalable Infrastructure8

39.4

17.9

11.7

15.1

35.4

80.1

32.6

17.8

7.8

5.9

64.1

Line Extensions9

26.8

16.0

22.7

18.4

13.1

70.2

11.1

8.2

5.6

5.7

30.6

Support Capital and Other10

36.4

10.1

13.4

14.7

52.9

10.2

9.3

7.1

23.3

49.9

Total Capital Expenditures

167.2

60.2

63.6

64.5

80.6

268.9

72.5

51.1

40.5

51.7

215.8

Expansion Capital Expenditures included in Total related to:

Edge-Outs11

4.7

4.2

3.7

2.1

3.4

13.4

1.7

2.7

0.5

2.5

7.4

Business Services12

11.6

3.9

3.7

2.8

3.6

14.0

2.2

4.7

3.6

3.0

13.5

Greenfields13

21.5

20.2

23.0

28.0

33.8

105.0

43.1

10.2

6.5

3.9

63.7

Expansion Capital Expenditures included in Total

37.8

28.3

30.4

32.9

40.8

132.4

47.0

17.6

10.6

9.4

84.6

Page 4

WideOpenWest, Inc.

Reconciliation of Non-GAAP Measures to GAAP Measures

($ in millions)

2022

2023

2024

1Q(a)

3Q(b)

4Q(c)

Reconciliation of Net Income (Loss) to Adjusted EBITDA6

Net Income (Loss)

(2.5)

(38.0)

(101.7)

(104.5)

(43.5)

(287.7)

(15.0)

(10.8)

(22.4)

(10.6)

(58.8)

Depreciation and amortization

179.3

45.5

46.8

49.0

51.8

193.1

52.7

52.6

52.0

210.0

Impairment loss on intangibles

35.0

128.1

131.7

47.0

306.8

Interest expense

38.7

14.9

17.3

18.9

20.0

71.1

21.0

17.8

31.6

18.2

88.6

(Gain) loss on sale of operating assets, net

(1.1)

(0.1)

0.4

0.1

0.4

(0.3)

2.6

0.3

2.6

(Gain) loss on sale of assets, net

0.2

0.3

Non-recurring professional fees, M&A integration and

restructuring expense

41.8

5.8

9.7

7.4

4.9

27.8

8.6

10.7

17.4

25.3

62.0

Patent litigation settlement

45.4

(1.8)

(2.0)

(3.8)

Non-cash stock compensation

25.8

5.4

5.0

3.5

2.9

16.8

3.0

2.9

2.4

2.8

11.1

Loss on early extinguishment of debt

1.0

Other income, net

(16.8)

(1.2)

(0.8)

(0.2)

(0.3)

(2.5)

(0.3)

(0.2)

(0.4)

(0.1)

(1.0)

Income tax expense (benefit)

(20.3)

(12.6)

(36.2)

(35.6)

(11.7)

(96.1)

(0.5)

(3.1)

(6.5)

(13.2)

(23.3)

Adjusted EBITDA

280.1

65.2

68.1

70.9

71.2

275.4

67.4

70.0

77.3

73.7

288.4

Reconciliation of Adjusted EBITDA to Transaction Adjusted EBITDA6

Adjusted EBITDA

280.1

65.2

68.1

70.9

71.2

275.4

67.4

70.0

77.3

73.7

288.4

Expected corporate cost reductions

14.2

3.0

1.9

1.1

0.6

6.6

0.6

Transaction Adjusted EBITDA

294.3

68.2

70.0

72.0

71.8

282.0

68.0

70.0

77.3

73.7

289.0

Notes:

(b) Includes $1.9 million of revenue credits issued to customers as a result of Hurricanes Helene and Milton in the fourth quarter of 2024.

Page 5

WideOpenWest, Inc.

Definitions:

broadband network and listed in our database.

advertising placement.

Customer premise equipment, or ("CPE") includes equipment and installation costs incurred to deliver services to residential and business services customers. CPE includes

the costs of acquiring and installing our set-top boxes and modems, as well as the cost of customer connections to our network.

Scalable infrastructure includes costs, not directly related to customer acquisition activity, to support new customer growth and provide service enhancements (e.g.,

headend equipment).

Line extensions include costs associated with new home development within our footprint and edge-outs (e.g., fiber / coaxial cable, amplifiers, electronic equipment, make-

ready and design engineering).

Support capital and other includes costs to modify or replace existing HFC network, including enhancements, and all other costs to support day-to-day operations, including

land, buildings, vehicles, office equipment, tools and test equipment.

Edge-outs represent costs to extend our network into new adjacent service areas, including the associated CPE.

Business services represent costs associated with the build-out of our network to support business services customers, including the associated CPE.

Greenfields represent costs associated with building our fiber technology network in locations non-adjacent to our existing network.

Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by total revenue.

Note:

We believe the non-GAAP measures included in this trending schdule enhance an investor's understanding of our financial performance. We believe that these non-GAAP measures are useful financial metrics to assess our operating performance from period to period by excluding certain items that we believe are not representative of our core business. We believe that these non-GAAP measures provide investors with useful information for assessing the comparability between periods of our ability to generate cash from operations sufficient to pay taxes, to service debt and to undertake Capital Expenditures. We use these non-GAAP measures for business planning purposes and in measuring our performance relative to that of our competitors. We believe these non-GAAP measures are measures commonly used by investors to evaluate our performance and that of our competitors.

Page 6

Disclaimer

WideOpenWest Inc. published this content on March 14, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on March 14, 2025 at 11:09:29.453.