PART I. Financial Information [Item 1: Financial Statements (Unaudited)](index=5&type=section&id=Item%201%3A%20Financial%20Statements%20%28Unaudited%29) This section details WideOpenWest, Inc.'s unaudited condensed consolidated financial statements, highlighting asset and liability changes, net income reduction, and a shift in operating cash flow due to asset sales [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) | Metric | Sep 30, 2022 (in millions) | Dec 31, 2021 (in millions) | Change (in millions) | | :-------------------------------- | :------------------------- | :------------------------- | :------------------- | | Total Assets | $1,747.0 | $1,906.7 | $(159.7) | | Cash and cash equivalents | $45.3 | $193.2 | $(147.9) | | Total Liabilities | $1,154.0 | $1,335.9 | $(181.9) | | Accrued liabilities and other | $59.4 | $218.7 | $(159.3) | | Long-term debt and finance lease obligations, net | $718.0 | $723.5 | $(5.5) | | Total Stockholders' Equity | $593.0 | $570.8 | $22.2 | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) | Metric | 3 Months Ended Sep 30, 2022 (in millions) | 3 Months Ended Sep 30, 2021 (in millions) | 9 Months Ended Sep 30, 2022 (in millions) | 9 Months Ended Sep 30, 2021 (in millions) | | :------------------------------------------ | :---------------------------------------- | :---------------------------------------- | :---------------------------------------- | :---------------------------------------- | | Revenue | $173.7 | $184.0 | $524.4 | $547.4 | | Income from operations | $9.9 | $3.5 | $24.8 | $1.7 | | Interest expense | $(10.5) | $(22.4) | $(25.8) | $(82.6) | | Income (loss) from continuing operations before tax | $0.9 | $(17.0) | $14.7 | $(78.5) | | Income (loss) from continuing operations | $0.5 | $(21.2) | $10.2 | $(66.4) | | Income from discontinued operations, net of tax | — | $539.1 | — | $606.3 | | Net income | $0.5 | $517.9 | $10.2 | $539.9 | | Basic EPS - continuing operations | $0.01 | $(0.26) | $0.12 | $(0.80) | | Diluted EPS - continuing operations | $0.01 | $(0.26) | $0.12 | $(0.80) | | Basic EPS - discontinued operations | — | $6.50 | — | $7.34 | | Diluted EPS - discontinued operations | — | $6.50 | — | $7.34 | | Basic EPS | $0.01 | $6.24 | $0.12 | $6.54 | | Diluted EPS | $0.01 | $6.24 | $0.12 | $6.54 | [Condensed Consolidated Statements of Comprehensive Income](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) | Metric | 3 Months Ended Sep 30, 2022 (in millions) | 3 Months Ended Sep 30, 2021 (in millions) | 9 Months Ended Sep 30, 2022 (in millions) | 9 Months Ended Sep 30, 2021 (in millions) | | :-------------------------------- | :---------------------------------------- | :---------------------------------------- | :---------------------------------------- | :---------------------------------------- | | Net income | $0.5 | $517.9 | $10.2 | $539.9 | | Unrealized gain on derivative instrument, net of tax | — | — | — | $6.5 | | Comprehensive income | $0.5 | $517.9 | $10.2 | $546.4 | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) | Metric | Jan 1, 2022 (in millions) | Sep 30, 2022 (in millions) | Change (in millions) | | :-------------------------- | :------------------------ | :------------------------ | :------------------- | | Total Stockholders' Equity | $570.8 | $593.0 | $22.2 | | Stock-based compensation | — | $19.0 (YTD) | $19.0 | | Net income | — | $10.2 (YTD) | $10.2 | | Purchase of shares | — | $(7.0) (YTD) | $(7.0) | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) | Metric | 9 Months Ended Sep 30, 2022 (in millions) | 9 Months Ended Sep 30, 2021 (in millions) | Change (in millions) | | :------------------------------------------ | :---------------------------------------- | :---------------------------------------- | :------------------- | | Net cash (used in) provided by operating activities | $(12.8) | $239.5 | $(252.3) | | Net cash (used in) provided by investing activities | $(113.2) | $946.4 | $(1,059.6) | | Net cash used in financing activities | $(21.9) | $(1,138.7) | $1,116.8 | | (Decrease) increase in cash and cash equivalents | $(147.9) | $47.2 | $(195.1) | | Cash and cash equivalents, end of period | $45.3 | $59.6 | $(14.3) | | Capital expenditures | $(114.5) | $(167.4) | $52.9 | | Proceeds from sale of Ohio markets, net | — | $1,112.5 | $(1,112.5) | | Cash paid for interest | $24.3 | $81.9 | $(57.6) | | Cash paid for income taxes, net | $142.7 | $2.2 | $140.5 | [Notes to the Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) - The company operates as one reportable segment, offering high-speed data (HSD), cable television (Video), and digital telephony (Telephony) services in 14 U.S. markets[21](index=21&type=chunk)[22](index=22&type=chunk) - The 2021 sales of Cleveland, Columbus, Chicago, Evansville, and Baltimore markets are presented as discontinued operations, significantly impacting prior year's financial results[28](index=28&type=chunk)[105](index=105&type=chunk) - Revenue from contracts with customers is primarily from monthly recurring subscription fees, accounting for **93% of total revenue** for the nine months ended September 30, 2022 and 2021[85](index=85&type=chunk) - Long-term debt was refinanced in December 2021, consisting of a **$730.0 million Term Loan B** and a **$250.0 million revolving credit commitment**, secured by substantially all company assets[46](index=46&type=chunk) - Stock-based compensation expense for the nine months ended September 30, 2022, was **$18.5 million**, up from **$11.6 million** in the prior year[57](index=57&type=chunk) - The company is vigorously defending against a Sprint patent infringement claim related to VoIP services, with trial scheduled for April 24, 2023[71](index=71&type=chunk) [Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202%3A%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) WOW is pursuing a 'broadband first' strategy with network expansion, experiencing decreased revenue from continuing operations but improved operating income due to expense reductions and debt refinancing [Overview](index=28&type=section&id=Overview) - WOW is a leading broadband services provider offering HSD, Video, and Telephony services to residential and business customers in 14 U.S. markets[75](index=75&type=chunk) - The core strategy is 'broadband first,' with approximately **99% of the network** offering HSD speeds up to 1 GIG, and a recently launched 1.2 GIG HSD tier[77](index=77&type=chunk)[78](index=78&type=chunk) - The company is experiencing strong demand for HSD service, with approximately **88% of new connections being HSD-only** and **76% of HSD-only new connections purchasing 500MB or higher speeds** in Q3 2022, a **24% increase year-over-year**[78](index=78&type=chunk) - Focus is on greenfield initiatives to expand the network into new, non-adjacent locations, including Seminole County and Orange County, Florida, and Greenville County, South Carolina[79](index=79&type=chunk) [Key Transactions Impacting Operating Results and Financial Condition](index=28&type=section&id=Key%20Transactions%20Impactin%20Operating%20Results%20and%20Financial%20Condition) - The company completed the sale of Cleveland and Columbus, Ohio markets on September 1, 2021, and Chicago, Illinois, Evansville, Indiana, and Baltimore, Maryland markets on November 1, 2021[80](index=80&type=chunk) - The majority of the **$1.8 billion net proceeds** were utilized to pay down outstanding debt and refinance the credit agreement in December 2021[80](index=80&type=chunk) - These divestitures strengthened the financial position and will accelerate the broadband-first strategy, including investments in edge-outs, greenfield initiatives, and commercial services[80](index=80&type=chunk) - Term B Loans and Revolving Credit Facility were refinanced on December 20, 2021, with a new **$730.0 million Term Loan B** and a **$250.0 million revolving credit commitment**[81](index=81&type=chunk) [Homes Passed and Subscribers](index=29&type=section&id=Homes%20Passed%20and%20Subscribers) | Metric | Sep 30, 2022 | Dec 31, 2021 | Change (Absolute) | Change (%) | | :---------------- | :----------- | :----------- | :---------------- | :--------- | | Homes passed | 1,886,000 | 1,882,100 | 3,900 | 0.21% | | Total subscribers | 538,100 | 532,900 | 5,200 | 0.98% | | HSD RGUs | 518,600 | 511,700 | 6,900 | 1.35% | | Video RGUs | 129,900 | 150,600 | (20,700) | -13.75% | | Telephony RGUs | 92,900 | 100,000 | (7,100) | -7.10% | | Total RGUs | 741,400 | 762,300 | (20,900) | -2.74% | | Edge-out Metric | Sep 30, 2022 | Dec 31, 2021 | Change (Absolute) | Change (%) | | :---------------------- | :----------- | :----------- | :---------------- | :--------- | | Edge-out Homes passed | 79,100 | 78,200 | 900 | 1.15% | | Edge-out Total subscribers | 19,800 | 19,300 | 500 | 2.59% | | Edge-out HSD RGUs | 19,700 | 19,200 | 500 | 2.60% | [Financial Statement Presentation](index=31&type=section&id=Financial%20Statement%20Presentation) - Operating revenue primarily derives from monthly recurring charges for HSD, Video, Telephony, and other business services[84](index=84&type=chunk) - Subscription fees accounted for **93% of total revenue** for both the nine months ended September 30, 2022 and 2021[85](index=85&type=chunk) - Key expenses include operating (programming, data, network, customer service), selling, general and administrative (salaries, marketing), and depreciation and amortization[86](index=86&type=chunk)[87](index=87&type=chunk)[88](index=88&type=chunk)[89](index=89&type=chunk) - Programming expenses are expected to continue increasing per Video subscriber due to broadcaster demands and media consolidation, which the company cannot fully pass on to customers[90](index=90&type=chunk) [Results of Operations - Continuing Operations](index=32&type=section&id=Results%20of%20Operations%20-%20Continuing%20Operations) | Metric | 3 Months Ended Sep 30, 2022 (in millions) | 3 Months Ended Sep 30, 2021 (in millions) | Change (%) | 9 Months Ended Sep 30, 2022 (in millions) | 9 Months Ended Sep 30, 2021 (in millions) | Change (%) | | :------------------------------------------ | :---------------------------------------- | :---------------------------------------- | :--------- | :---------------------------------------- | :---------------------------------------- | :--------- | | Total Revenue | $173.7 | $184.0 | -5.60% | $524.4 | $547.4 | -4.20% | | Residential subscription revenue | $132.7 | $142.6 | -6.94% | $402.4 | $424.6 | -5.23% | | Business subscription revenue | $27.7 | $27.7 | 0.00% | $83.2 | $82.3 | 1.09% | | Operating expenses (excl. D&A) | $79.1 | $93.4 | -15.31% | $249.4 | $286.9 | -13.00% | | Selling, general and administrative | $39.7 | $44.8 | -11.40% | $117.3 | $132.8 | -11.67% | | Depreciation and amortization | $45.0 | $42.3 | 6.38% | $132.9 | $126.0 | 5.48% | | Income from operations | $9.9 | $3.5 | 182.86% | $24.8 | $1.7 | 1358.82% | | Interest expense | $(10.5) | $(22.4) | -53.12% | $(25.8) | $(82.6) | -68.77% | | Other income, net | $1.5 | $1.9 | -21.05% | $15.7 | $2.4 | 554.17% | | Net income (loss) | $0.5 | $(21.2) | 102.36% | $10.2 | $(66.4) | 115.36% | - Subscription revenue decreased due to a **$39.8 million shift in service offering mix** (reduction in Video and Telephony RGUs) for the nine months ended September 30, 2022, partially offset by a **$13.3 million increase in ARPU** from HSD customers purchasing higher speed tiers and rate increases[94](index=94&type=chunk) - Operating expenses decreased primarily due to a **$25.7 million reduction in programming expenses**, aligning with the decline in Video RGUs[97](index=97&type=chunk)[99](index=99&type=chunk) - Interest expense decreased significantly due to a lower outstanding principal balance from the December 2021 debt refinancing and the expiration of interest rate swap agreements in May 2021[103](index=103&type=chunk) - Other income increased for the nine-month period primarily due to providing nine months of transition services in 2022 compared to one month in 2021, following the asset sales[104](index=104&type=chunk) [Results of Operations - Discontinued Operations](index=36&type=section&id=Results%20of%20Operations%20-%20Discontinued%20Operations) | Metric | 3 Months Ended Sep 30, 2021 (in millions) | 9 Months Ended Sep 30, 2021 (in millions) | | :------------------------------------------ | :---------------------------------------- | :---------------------------------------- | | Revenue | $83.7 | $293.9 | | Operating (excluding D&A) | $28.9 | $106.1 | | Selling, general and administrative | $5.2 | $10.7 | | Depreciation and amortization | — | $41.0 | | Income from operations | $49.6 | $136.1 | | Gain on sale of assets, net | $689.9 | $690.1 | | Income tax expense | $(200.4) | $(220.4) | | Net income | $539.1 | $606.3 | | Discontinued Revenue by Service | 3 Months Ended Sep 30, 2021 (in millions) | 9 Months Ended Sep 30, 2021 (in millions) | | :------------------------------ | :---------------------------------------- | :---------------------------------------- | | Residential subscription | $71.5 | $253.0 | | Business subscription | $8.0 | $27.1 | | Total subscription services revenue | $79.5 | $280.1 | - The company entered into transition services agreements with buyers of the divested markets, providing services like IT, network, and business support for up to 12 months with optional extensions[106](index=106&type=chunk) - Income earned under these agreements is presented in other income, net, in continuing operations[32](index=32&type=chunk) [Use of Incremental Contribution](index=38&type=section&id=Use%20of%20Incremental%20Contribution) - Incremental contribution is a non-GAAP metric defined as subscription services revenue less costs directly incurred from third parties for providing such services[111](index=111&type=chunk) - It is used by management to assess financial performance and understand cash flow generation from subscription services[111](index=111&type=chunk) - Incremental contribution from continuing operations increased by **$0.1 million** for the three months ended September 30, 2022, and by **$12.0 million (3%)** for the nine months ended September 30, 2022, compared to the corresponding periods in 2021[98](index=98&type=chunk) - The increase is primarily related to a decrease in programming expense, which fell from **$137.4 million to $111.7 million** for the nine-month period, attributable to the decline in Video RGUs[99](index=99&type=chunk) | Metric | 3 Months Ended Sep 30, 2022 (in millions) | 3 Months Ended Sep 30, 2021 (in millions) | 9 Months Ended Sep 30, 2022 (in millions) | 9 Months Ended Sep 30, 2021 (in millions) | | :-------------------------- | :---------------------------------------- | :---------------------------------------- | :---------------------------------------- | :---------------------------------------- | | Incremental contribution (Continuing) | $122.4 | $122.3 | $363.0 | $351.0 | | Incremental contribution (Total) | $122.4 | $179.5 | $363.0 | $547.0 | [Liquidity and Capital Resources](index=40&type=section&id=Liquidity%20and%20Capital%20Resources) - As of September 30, 2022, outstanding consolidated debt was **$736.1 million**, with **$18.1 million** classified as current[115](index=115&type=chunk) - Cash and cash equivalents were **$45.3 million**, and available borrowing capacity under the Revolving Credit Facility was **$245.6 million**[115](index=115&type=chunk) - Management believes existing cash, borrowing capacity, and operating cash flows will provide sufficient resources for the next 12 months[115](index=115&type=chunk) - Net cash used in operating activities was **$12.8 million** for the nine months ended September 30, 2022, compared to **$239.5 million provided** in the prior year, primarily due to income tax payments from asset sales[119](index=119&type=chunk) - Net cash used in investing activities was **$113.2 million** for the nine months ended September 30, 2022, compared to **$946.4 million provided** in the prior year, mainly due to the absence of proceeds from asset sales[120](index=120&type=chunk) - Capital expenditures for continuing operations decreased by **$11.7 million** to **$114.5 million** for the nine months ended September 30, 2022, driven by reductions in network enhancement and CPE expenditures, offset by increases in line extensions and greenfield initiatives[121](index=121&type=chunk)[123](index=123&type=chunk) | Capital Expenditure Category | 9 Months Ended Sep 30, 2022 (in millions) | 9 Months Ended Sep 30, 2021 (in millions) | Change (in millions) | | :--------------------------- | :---------------------------------------- | :---------------------------------------- | :------------------- | | Customer premise equipment | $48.1 | $55.2 | $(7.1) | | Scalable infrastructure | $23.8 | $30.3 | $(6.5) | | Line extensions | $16.7 | $11.5 | $5.2 | | Support capital and other | $25.9 | $29.2 | $(3.3) | | Total Capital Expenditures (Continuing) | $114.5 | $126.2 | $(11.7) | | Edge-outs | $3.4 | $3.2 | $0.2 | | Greenfields | $10.8 | — | $10.8 | [Item 3: Quantitative and Qualitative Disclosures about Market Risk](index=42&type=section&id=Item%203%3A%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk stems from fluctuating interest rates on variable rate debt, with a 100 basis point SOFR increase impacting annual interest expense by $7.2 million - Primary market risk is from fluctuating interest rates on variable rate debt under the Senior Secured Credit Facility[126](index=126&type=chunk) - As of September 30, 2022, Term B Loans bear interest at **SOFR + 3.00%**, and Revolving Credit Facility at **SOFR + 2.75%**[126](index=126&type=chunk) - A hypothetical **100 basis point (1%) change in SOFR** would result in an annual interest expense change of approximately **$7.2 million**[126](index=126&type=chunk) [Item 4: Controls and Procedures](index=43&type=section&id=Item%204%3A%20Controls%20and%20Procedures) Management confirmed the effectiveness of disclosure controls and procedures as of September 30, 2022, with no changes in internal control over financial reporting during Q3 2022 - Disclosure controls and procedures were evaluated and deemed effective as of September 30, 2022[129](index=129&type=chunk) - No changes in internal control over financial reporting occurred during the third quarter of 2022[130](index=130&type=chunk) PART II. Other Information [Item 1: Legal Proceedings](index=44&type=section&id=Item%201%3A%20Legal%20Proceedings) The company faces ongoing legal proceedings, including a Sprint patent infringement claim, but management anticipates no material adverse impact on financial position or operations - Sprint Communications Company L.P. filed a patent infringement claim against the company (and others) related to VoIP services on March 7, 2018[71](index=71&type=chunk) - The company is vigorously defending against the claims and pursuing indemnification from equipment providers; trial is scheduled for April 24, 2023[71](index=71&type=chunk) - Management believes the ultimate resolution of all pending legal matters will not have a material adverse effect on the company's financial position, results of operations, or cash flows[73](index=73&type=chunk) [Item 1A: Risk Factors](index=44&type=section&id=Item%201A%3A%20Risk%20Factors) No material changes were reported to the risk factors previously disclosed in the Annual Report on Form 10-K for the year ended December 31, 2021 - No material changes to the risk factors set forth in the Annual Report on Form 10-K for the year ended December 31, 2021[134](index=134&type=chunk) [Item 2: Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202%3A%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In Q3 2022, WOW repurchased 56,282 shares at an average of $18.03 per share, mainly for tax payments on vested restricted stock awards | Period | Number of Shares Purchased (1) | Average Price Paid per Share | | :---------------- | :----------------------------- | :--------------------------- | | July 1 - 31, 2022 | 2,203 | $18.54 | | August 1 - 31, 2022 | 46,940 | $19.56 | | September 1 - 30, 2022 | 7,139 | $13.99 | | **Total Q3 2022** | **56,282** | **$18.03 (weighted avg)** | - Shares purchased represent shares withheld from employees for the payment of taxes upon the vesting of restricted stock awards[135](index=135&type=chunk) [Item 3: Defaults Upon Senior Securities](index=44&type=section&id=Item%203%3A%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults on its senior securities - No defaults upon senior securities[136](index=136&type=chunk) [Item 4: Mine Safety Disclosures](index=44&type=section&id=Item%204%3A%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - Not applicable[137](index=137&type=chunk) [Item 5: Other Information](index=44&type=section&id=Item%205%3A%20Other%20Information) No other information was reported for this item - None[138](index=138&type=chunk) [Item 6: Exhibits](index=45&type=section&id=Item%206%3A%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance documents, CEO/CFO certifications, and iXBRL financial information - Includes certifications from the Chief Executive Officer and Chief Financial Officer pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002[140](index=140&type=chunk) - Financial information is formatted in iXBRL (inline eXtensible Business Reporting Language)[140](index=140&type=chunk)

PART I. [Financial Information](index=5&type=section&id=PART%20I.%20Financial%20Information) [Item 1: Financial Statements (Unaudited)](index=5&type=section&id=Item%201%3A%20Financial%20Statements%20%28Unaudited%29) Unaudited H1 2022 financials show decreased assets, net income shift, and negative operating cash flow due to a large tax payment [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **\$1,758.1 million** by June 30, 2022, due to reduced cash, with liabilities also decreasing and equity slightly increasing Condensed Consolidated Balance Sheet Highlights (in millions) | Account | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | \$49.9 | \$193.2 | | Total current assets | \$142.5 | \$282.0 | | Total assets | \$1,758.1 | \$1,906.7 | | **Liabilities & Equity** | | | | Total current liabilities | \$163.9 | \$320.9 | | Long-term debt and finance lease obligations, net | \$720.2 | \$723.5 | | Total liabilities | \$1,171.7 | \$1,335.9 | | Total stockholders' equity | \$586.4 | \$570.8 | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2022 revenue slightly decreased, but income from continuing operations significantly improved to **\$4.0 million** from a loss, driven by reduced interest expense Condensed Consolidated Statements of Operations (in millions, except per share data) | Metric | Q2 2022 | Q2 2021 | H1 2022 | H1 2021 | | :--- | :--- | :--- | :--- | :--- | | Revenue | \$176.1 | \$181.9 | \$350.7 | \$363.4 | | Income (loss) from operations | \$9.9 | \$(1.1) | \$14.9 | \$(1.8) | | Interest expense | \$(7.9) | \$(28.8) | \$(15.3) | \$(60.2) | | Income (loss) from continuing operations | \$4.0 | \$(22.5) | \$9.7 | \$(45.2) | | Net income | \$4.0 | \$12.4 | \$9.7 | \$22.0 | | Diluted EPS - continuing operations | \$0.05 | \$(0.27) | \$0.11 | \$(0.55) | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **\$51.7 million** for H1 2022, a significant decline from prior year, primarily due to a large income tax payment Condensed Consolidated Statements of Cash Flows (in millions) | Cash Flow Activity | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | \$(51.7) | \$156.9 | | Net cash used in investing activities | \$(75.7) | \$(114.6) | | Net cash used in financing activities | \$(15.9) | \$(31.4) | | **(Decrease) increase in cash and cash equivalents** | **\$(143.3)** | **\$10.9** | - A significant cash payment for income taxes of **\$141.0 million** was made during the first six months of 2022, compared to only **\$1.7 million** in the same period of 2021[20](index=20&type=chunk) [Notes to the Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) Notes detail single operating segment, discontinued operations impact, revenue trends, debt structure, and a pending patent lawsuit - In 2021, the company sold its service areas in Cleveland, Columbus, Chicago, Evansville, and Baltimore. These are now treated as discontinued operations. The company is providing transition services to the buyers, recognizing **\$5.4 million** and **\$13.5 million** in income for the three and six months ended June 30, 2022, respectively[30](index=30&type=chunk)[34](index=34&type=chunk) Revenue by Service Offering (Continuing Operations, in millions) | Service | Q2 2022 | Q2 2021 | H1 2022 | H1 2021 | | :--- | :--- | :--- | :--- | :--- | | Residential HSD | \$84.6 | \$81.5 | \$166.9 | \$161.0 | | Residential Video | \$44.7 | \$52.5 | \$90.4 | \$106.1 | | Residential Telephony | \$6.1 | \$7.3 | \$12.4 | \$14.9 | | Business Subscription | \$27.8 | \$27.3 | \$55.5 | \$54.6 | - The company is involved in a patent infringement lawsuit filed by Sprint in 2018 regarding VoIP services. The trial is scheduled for April 24, 2023. The company cannot determine the potential material impact at this time[76](index=76&type=chunk) [Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202%3A%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses 'broadband first' strategy, 2021 divestiture impact, Q2 2022 revenue trends, improved operating income, and liquidity challenges - The company's core strategy is 'broadband first,' focusing on HSD services. Approximately **87%** of new connections in H1 2022 were for HSD only[83](index=83&type=chunk)[84](index=84&type=chunk) - WOW is pursuing 'greenfield' initiatives to build all-IP fiber networks in new markets, including Seminole and Orange County, Florida, and Greenville County, South Carolina[85](index=85&type=chunk) - The 2021 sale of five service areas generated **\$1.8 billion** in net proceeds, which was primarily used to pay down debt and refinance the credit agreement, strengthening the company's financial position[86](index=86&type=chunk) [Homes Passed and Subscribers](index=18&type=section&id=Homes%20Passed%20and%20Subscribers) As of June 30, 2022, the company served approximately **536,600** total subscribers, with HSD RGUs growing while Video and Telephony RGUs declined Subscriber and RGU Trends (Continuing Operations) | Metric | Jun 30, 2021 | Dec 31, 2021 | Jun 30, 2022 | | :--- | :--- | :--- | :--- | | Total subscribers | 530,500 | 532,900 | 536,600 | | HSD RGUs | 507,900 | 511,700 | 517,200 | | Video RGUs | 169,300 | 150,600 | 135,500 | | Telephony RGUs | 105,600 | 100,000 | 95,200 | [Results of Operations](index=19&type=section&id=Results%20of%20Operations) Q2 2022 total revenue decreased by **3%** YoY, due to declining Video/Telephony, while operating and interest expenses significantly decreased - Q2 2022 subscription revenue decreased by **\$5.4 million** (**3%**) YoY, driven by a **\$13.5 million** decline from the shift away from Video and Telephony, partially offset by a **\$6.4 million** increase in ARPU as HSD customers chose higher speed tiers[101](index=101&type=chunk) - Operating expenses for Q2 2022 decreased by **\$12.1 million** (**13%**) YoY, mainly due to an **\$8.2 million** reduction in programming expenses, aligning with the decline in Video RGUs[105](index=105&type=chunk) - Interest expense for Q2 2022 decreased by **\$20.9 million** (**73%**) YoY, a direct result of the debt refinancing and lower principal balance following the 2021 asset sales[110](index=110&type=chunk) - Other income increased by **\$6.4 million** in Q2 2022, primarily from income related to the Transition Services Agreements for the sold service areas[112](index=112&type=chunk) [Liquidity and Capital Resources](index=24&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2022, the company had **\$49.9 million** cash and **\$245.6 million** available credit, though operating cash flow was negative due to a large tax payment - The company believes existing cash, available borrowing capacity, and operating cash flows will be sufficient to fund obligations for the next 12 months[122](index=122&type=chunk) - Net cash used in operating activities was **\$51.7 million** for H1 2022, a swing from **\$156.9 million** provided in H1 2021, primarily due to the income tax payment associated with the 2021 asset sales[127](index=127&type=chunk) Capital Expenditures (Continuing Operations, H1 2022, in millions) | Category | H1 2022 | H1 2021 | | :--- | :--- | :--- | | Customer premise equipment (CPE) | \$33.6 | \$36.5 | | Scalable infrastructure | \$18.1 | \$22.6 | | Line extensions | \$10.2 | \$7.4 | | Support capital and other | \$14.9 | \$19.0 | | **Total** | **\$76.8** | **\$85.5** | - Capital expenditures included **\$5.0 million** for new 'Greenfield' projects and **\$1.9 million** for 'Edge-outs' in H1 2022, reflecting a focus on network expansion[130](index=130&type=chunk)[131](index=131&type=chunk)[133](index=133&type=chunk) [Item 3: Quantitative and Qualitative Disclosures about Market Risk](index=26&type=section&id=Item%203%3A%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) Primary market risk is interest rate fluctuations on variable-rate debt; a **1%** SOFR increase would raise annual interest expense by **\$7.3 million** - The company's primary market risk is from interest rate changes on its variable rate debt[135](index=135&type=chunk) - A hypothetical **1%** (**100 basis point**) change in SOFR would change annual interest expense by approximately **\$7.3 million**[135](index=135&type=chunk) [Item 4: Controls and Procedures](index=26&type=section&id=Item%204%3A%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of June 30, 2022, with no material changes to internal controls during Q2 2022 - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of June 30, 2022[138](index=138&type=chunk) - No material changes were made to the internal control over financial reporting during the second quarter of 2022[139](index=139&type=chunk) PART II. [Other Information](index=27&type=section&id=PART%20II.%20Other%20Information) [Item 1: Legal Proceedings](index=27&type=section&id=Item%201%3A%20Legal%20Proceedings) The company is involved in a patent infringement lawsuit by Sprint related to VoIP services, with a trial scheduled for April 2023 - The company is defending against a patent infringement claim from Sprint related to VoIP services, with a trial scheduled for April 2023[76](index=76&type=chunk)[141](index=141&type=chunk) [Item 1A: Risk Factors](index=27&type=section&id=Item%201A%3A%20Risk%20Factors) No material changes to risk factors from the 2021 Form 10-K - No material changes to risk factors from the 2021 Form 10-K[142](index=142&type=chunk) [Item 2: Unregistered Sales of Equity Securities and Use of Proceeds](index=27&type=section&id=Item%202%3A%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Shares purchased during Q2 2022 were withheld from employees for tax obligations on vested restricted stock awards, not a formal buyback - Shares purchased during the quarter were withheld from employees to satisfy tax obligations on vested restricted stock awards, not as part of a formal buyback program[143](index=143&type=chunk) [Item 3: Defaults Upon Senior Securities](index=27&type=section&id=Item%203%3A%20Defaults%20Upon%20Senior%20Securities) No defaults upon senior securities were reported [Item 4: Mine Safety Disclosures](index=27&type=section&id=Item%204%3A%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations [Item 5: Other Information](index=27&type=section&id=Item%205%3A%20Other%20Information) No other material information is reported in this section [Item 6: Exhibits](index=28&type=section&id=Item%206%3A%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate documents and required certifications

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38101 WideOpenWest, Inc. (Exact name of registrant as specified in its charter) Delaware (State or Other Jurisdiction of In ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Table of Contents ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38101 WideOpenWest, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorpo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38101 WideOpenWest, Inc. (Exact name of registrant as specified in its charter) Delaware (State or Other Jurisdiction o ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38101 WideOpenWest, Inc. (Exact name of registrant as specified in its charter) Delaware (State or Other Jurisdiction of Inc ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38101 WideOpenWest, Inc. (Exact name of registrant as specified in its charter) Delaware (State or Other Jurisdiction of In ...

WideOpenWest, Inc. (NYSE:WOW) Q4 2020 Results Conference Call February 24, 2021 5:00 PM ET Company Participants Andrew Posen - Vice President, Head of Investor Relations Teresa Elder - Chief Executive Officer John Rego - Chief Financial Officer Conference Call Participants Batya Levi - UBS Frank Louthan - Raymond James Kutgun Maral - RBC Capital Markets James Ratcliffe - Evercore ISI Operator Ladies and gentlemen, thank you for standing by. And welcome to the WOW! Fourth Quarter 2020 Earnings Call. At this ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38101 WideOpenWest, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorpo ...

WideOpenWest, Inc. (NYSE:WOW) Q3 2020 Earnings Conference Call November 5, 2020 5:00 PM ET Company Participants Andrew Posen - Vice President, Head of Investor Relations Teresa Elder - Chief Executive Officer John Rego - Chief Financial Officer Conference Call Participants Kutgun Maral - RBC Capital Markets Evan Young - KeyBanc Frank Louthan - Raymond James Operator Ladies and gentlemen, thank you for standing by, and welcome to the WOW! Third Quarter 2020 Earnings Call. At this time, all participants are i ...