WideOpenWest : WOW! 1Q25 Trending Schedule

Published: 2025-05-07 04:13:52 ET WOW

Published on 05/07/2025 at 04:13

First Quarter 2025

(operating statistics in thousands)

Homes Passed (EoP)1

1,885.7

1,892.6

1,905.6

1,932.2

1,948.5

1,956.7

1,952.2

1,962.1

1,977.6

Total Subscribers (EoP)2

527.3

522.4

517.4

504.1

500.7

495.2

490.5

478.7

473.8

Net Subscriber Additions / (Losses)

(3.3)

(4.9)

(5.0)

(13.3)

(26.5)

(3.4)

(5.5)

(4.7)

(11.8)

(25.4)

(4.9)

Subscriber Penetration (%)3

28.0%

27.6%

27.2%

26.1%

25.7%

25.3%

25.1%

24.4%

24.0%

RGUs (EoP)4

HSD

508.7

507.8

503.4

490.1

489.7

485.0

480.6

470.4

465.9

Video

117.1

110.0

100.8

90.8

79.3

71.6

66.3

60.6

48.9

Telephony

87.7

85.3

82.7

79.5

77.7

75.7

73.7

71.6

69.2

Total RGUs

713.5

703.1

686.9

660.4

646.7

632.3

620.6

602.6

584.0

Net Additions / (Losses)

HSD

(2.9)

(0.9)

(4.4)

(13.3)

(21.5)

(0.4)

(4.7)

(4.4)

(10.2)

(19.7)

(4.5)

Video

(6.1)

(7.1)

(9.2)

(10.0)

(32.4)

(11.5)

(7.7)

(5.3)

(5.7)

(30.2)

(11.7)

Telephony

(2.2)

(2.4)

(2.6)

(3.2)

(10.4)

(1.8)

(2.0)

(2.1)

(7.9)

(2.4)

Total Net Additions / (Losses)

(11.2)

(10.4)

(16.2)

(26.5)

(64.3)

(13.7)

(14.4)

(11.7)

(18.0)

(57.8)

(18.6)

Penetration (%)3

HSD

27.0%

26.8%

26.4%

25.4%

25.1%

24.8%

24.6%

24.0%

23.6%

Video

6.2%

5.8%

5.3%

4.7%

4.1%

3.7%

3.4%

3.1%

2.5%

Telephony

4.7%

4.5%

4.3%

4.1%

4.0%

3.9%

3.8%

3.6%

3.5%

Page 1

($ in millions)

3Q(a)

4Q(b)

Revenue

HSD Subscription

$ 105.2

$ 106.7

$ 109.8

$ 108.7

$ 430.4

$ 106.2

$ 105.0

$ 107.5

$ 104.9

$ 423.6

$ 105.4

Video Subscription

42.1

41.6

38.9

35.0

157.6

31.8

30.8

28.0

25.6

116.2

22.9

Telephony Subscription

12.1

11.6

11.8

47.6

11.0

10.7

10.5

9.8

42.0

10.2

Total Subscription

$ 159.4

$ 160.4

$ 160.3

$ 155.5

$ 635.6

$ 149.0

$ 146.5

$ 146.0

$ 140.3

$ 581.8

$ 138.5

Other Business Services

5.2

5.1

5.4

5.3

21.0

5.3

5.0

4.5

4.8

19.6

4.9

Other Revenue5

7.6

7.1

7.4

8.0

30.1

7.2

7.3

7.5

29.5

6.6

Total

$ 172.2

$ 172.6

$ 173.1

$ 168.8

$ 686.7

$ 161.5

$ 158.8

$ 158.0

$ 152.6

$ 630.9

$ 150.0

Subscription Revenue Subtotal

Residential Subscription

$ 131.6

$ 132.2

$ 132.1

$ 127.3

$ 523.2

$ 121.0

$ 118.5

$ 117.4

$ 112.4

$ 469.3

$ 110.4

Business Services Subscription

Total Subscription Revenue

27.8

28.2

112.4

28.0

28.6

27.9

112.5

28.1

$ 159.4

$ 160.4

$ 160.3

$ 155.5

$ 635.6

$ 149.0

$ 146.5

$ 146.0

$ 140.3

$ 581.8

$ 138.5

Adjusted EBITDA

Adjusted EBITDA 6

$ 65.2

$ 68.1

$ 70.9

$ 71.2

$ 275.4

$ 67.4

$ 70.0

$ 77.3

$ 73.7

$ 288.4

$ 76.7

Adjusted EBITDA Margin 14

37.9%

39.5%

41.0%

42.2%

40.1%

41.7%

44.1%

48.9%

48.3%

45.7%

51.1%

Transaction Adjusted EBITDA

Transaction Adjusted EBITDA Transaction Adjusted EBITDA Margin

$ 68.2

39.6%

$ 70.0

40.6%

$ 72.0

41.6%

$ 71.8

42.5%

$ 282.0

41.1%

$ 68.0

42.1%

$ 70.0

44.1%

$ 77.3

48.9%

$ 73.7

48.3%

$ 289.0

45.8%

$ 76.7

51.1%

Notes:

(a) Includes $0.6 million of revenue credits issued to customers as a result of Hurricane Helene in late September 2024.

(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 2

(operating statistics in thousands)

Home Passed (EoP)1Total Subscribers (EoP)2

85.6

21.2

92.8

23.2

106.7

25.8

129.6

28.1

129.6

28.1

147.7

32.2

156.6

35.8

158.3

38.1

169.9

40.0

169.9

40.0

185.1

42.9

RGUs (EoP)4

HSD

21.1 22.9 25.6 27.9

27.9

31.9 35.6 37.8 39.8

39.8

42.6

Video

6.9 7.0 7.0 7.1

7.1

7.2 7.3 7.4 7.4

7.4

Telephony

2.9 3.1 3.6 3.8

3.8

4.2 4.6 4.8 5.0

5.0

5.4

Total RGUs

30.9 33.0 36.2 38.8

38.8

43.3 47.5 50.0 52.2

52.2

55.4

GREENFIELD

Home Passed (EoP)

1.7

4.0

14.1

30.4

45.5 52.5 52.6 61.9

61.9

75.6

Total Subscribers (EoP)

0.4

0.8

1.7

3.0

5.7 8.1 9.2 10.3

10.3

12.3

Total Penetration

23.5%

20.0%

12.1%

9.9%

12.5% 15.4% 17.5% 16.6%

16.6%

16.3%

Average Days Active

135 204 295 333

333

354

2023 EDGE OUT

Home Passed (EoP)

2.8

7.7

11.4

18.0

18.5 18.5 18.5 18.5

18.5

Total Subscribers (EoP)

0.3

1.8

3.4

4.4

5.0 5.3 5.5 5.7

5.7

5.8

Total Penetration

10.7%

23.4%

29.8%

24.4%

27.0% 28.6% 29.7% 30.8%

30.8%

31.4%

Average Days Active

141

163

248 340 432 524

524

614

2024 EDGE OUT

Home Passed (EoP)

2.5 4.4 6.0 8.3

8.3

Total Subscribers (EoP)

0.8 1.7 2.7 3.3

3.3

3.7

Total Penetration

32.0% 38.6% 45.0% 39.8%

39.8%

44.6%

Average Days Active

32 86 139 181

181

271

2025 EDGE OUT

Home Passed (EoP)

1.5

Total Subscribers (EoP)

0.4

Total Penetration

26.7%

Average Days Active

Notes:

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

Page 3

($ in millions)

Capital Expenditures: Components

Customer Premise Equipment (CPE)7

$ 16.2

$ 15.8

$ 16.3

$ 17.4

$ 65.7

$ 18.6

$ 15.8

$ 20.0

$ 16.8

$ 71.2

$ 15.9

Scalable Infrastructure8

17.9

11.7

15.1

35.4

80.1

32.6

17.8

7.8

5.9

64.1

11.6

Line Extensions9

16.0

22.7

18.4

13.1

70.2

11.1

8.2

5.6

5.7

30.6

5.0

Support Capital and Other10

10.1

13.4

14.7

52.9

10.2

9.3

7.1

23.3

49.9

6.4

Total Capital Expenditures

$ 60.2

$ 63.6

$ 64.5

$ 80.6

$ 268.9

$ 72.5

$ 51.1

$ 40.5

$ 51.7

$ 215.8

$ 38.9

Expansion Capital Expenditures included in Total related to:

Edge-Outs11

$ 4.2

$ 3.7

$ 2.1

$ 3.4

$ 13.4

$ 1.7

$ 2.7

$ 0.5

$ 2.5

$ 7.4

$ 1.9

Business Services12

3.9

3.7

2.8

3.6

14.0

2.2

4.7

3.6

3.0

13.5

2.0

Greenfields13

20.2

23.0

28.0

33.8

105.0

43.1

10.2

6.5

3.9

63.7

10.8

Expansion Capital Expenditures included in Total

$ 28.3

$ 30.4

$ 32.9

$ 40.8

$ 132.4

$ 47.0

$ 17.6

$ 10.6

$ 9.4

$ 84.6

$ 14.7

Page 4

($ in millions)

1Q(a)

3Q(b)

4Q(c)

Reconciliation of Net Income (Loss) to Adjusted EBITDA6

Net Income (Loss)

$ (38.0)

$ (101.7)

$ (104.5)

$ (43.5)

$ (287.7)

$ (15.0)

$ (10.8)

$ (22.4)

$ (10.6)

$ (58.8)

$ (13.9)

Depreciation and amortization

45.5

46.8

49.0

51.8

193.1

52.7

52.6

52.0

210.0

52.1

Impairment loss on intangibles

128.1

131.7

47.0

306.8

Interest expense

14.9

17.3

18.9

20.0

71.1

21.0

17.8

31.6

18.2

88.6

27.5

(Gain) loss on sale of operating assets, net

(0.1)

0.4

0.1

0.4

(0.3)

2.6

0.3

2.6

(1.3)

(Gain) loss on sale of assets, net

0.3

Non-recurring professional fees, M&A integration and

restructuring expense

5.8

9.7

7.4

4.9

27.8

8.6

10.7

17.4

25.3

62.0

15.3

Patent litigation settlement

45.4 -

45.4

(1.8)

(2.0)

(3.8)

(0.5)

Non-cash stock compensation

5.4

5.0

3.5

2.9

16.8

3.0

2.9

2.4

2.8

11.1

2.4

Loss on early extinguishment of debt

1.0

Other income, net

(1.2)

(0.8)

(0.2)

(0.3)

(2.5)

(0.3)

(0.2)

(0.4)

(0.1)

(1.0)

Income tax expense (benefit)

(12.6)

(36.2)

(35.6)

(11.7)

(96.1)

(0.5)

(3.1)

(6.5)

(13.2)

(23.3)

(4.9)

Adjusted EBITDA

$ 65.2

$ 68.1

$ 70.9

$ 71.2

$ 275.4

$ 67.4

$ 70.0

$ 77.3

$ 73.7

$ 288.4

$ 76.7

Reconciliation of Adjusted EBITDA to Transaction Adjusted EBITDA6

Adjusted EBITDA

Expected corporate cost reductions

Transaction Adjusted EBITDA

$ 65.2

3.0

$ 68.1

1.9

$ 70.9

1.1

$ 71.2

0.6

$ 275.4

6.6

$ 67.4 $ 70.0

0.6 -

$ 77.3

$ 73.7

$ 288.4

0.6

$ 76.7

$ 68.2

$ 70.0

$ 72.0

$ 71.8

$ 282.0

$ 68.0

$ 70.0

$ 77.3

$ 73.7

$ 289.0

$ 76.7

Notes:

(a) Certain reclassifications have been made to conform with current period presentation.

(b) Includes $0.6 million of revenue credits issued to customers as a result of Hurricane Helene in late September 2024.

(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

Disclaimer

WideOpenWest Inc. published this content on May 06, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 07, 2025 at 07:48 UTC.