Revenue Performance - Total Revenue for Q4 2024 was $152.6 million, a decrease of $16.2 million, or 9.6%, compared to Q4 2023[4] - Total Subscription Revenue for the year ended December 31, 2024 was $581.8 million, down $53.8 million, or 8.5%, compared to 2023[5] - Total revenue for the year ended December 31, 2024, was $630.9 million, a decrease of 8.1% from $686.7 million in 2023[25] - Subscription services revenue decreased to $581.8 million in 2024, down 8.5% from $635.6 million in 2023[25] - HSD Revenue for Q4 2024 totaled $104.9 million, a decrease of $3.8 million, or 3.5%, compared to Q4 2023[5] - First quarter 2025 guidance for Total Revenue is projected to be between $147.0 million and $149.0 million[20] Profitability and Loss - Net Loss for the year ended December 31, 2024 was $58.8 million, compared to a net loss of $287.7 million in 2023[11] - For the three months ended December 31, 2024, the company reported a net loss of $10.6 million, compared to a net loss of $43.5 million for the same period in 2023, resulting in a net profit margin of (6.9)% versus (25.8)%[36] - The company reported a basic loss per common share of $0.72 for the year ended December 31, 2024, compared to a loss of $3.53 in 2023[25] Cash Flow and Liquidity - Cash and cash equivalents increased to $38.8 million as of December 31, 2024, up from $23.4 million in 2023[26] - Operating cash flow for the year ended December 31, 2024, was $163.7 million, an increase from $135.1 million in 2023[26] Subscriber Metrics - Total Subscribers as of December 31, 2024 were 478,700, a decrease of 25,400 compared to December 31, 2023[13] - High-Speed Data (HSD) Revenue Generating Units (RGUs) decreased to 470,400 as of December 31, 2024, compared to 490,100 at the end of 2023[39] - Video RGUs declined to 60,600 as of December 31, 2024, down from 90,800 at the end of 2023[39] - As of December 31, 2024, the company passed 1,962,100 homes, an increase from 1,932,200 homes at the end of 2023[39] Capital Expenditures and Debt - Capital Expenditures for the year ended December 31, 2024 totaled $215.8 million, a decrease of $53.1 million, or 19.7%, compared to 2023[16] - Long-term debt and finance lease obligations increased to $997.4 million in 2024, up from $915.7 million in 2023[25] - The company had total capital expenditures of $215.8 million for the year ended December 31, 2024, down from $268.9 million in 2023[39] Adjusted EBITDA - Adjusted EBITDA for Q4 2024 was $73.7 million, an increase of $2.5 million, or 3.5%, compared to Q4 2023[12] - Adjusted EBITDA for the year ended December 31, 2024, was $288.4 million, an increase from $275.4 million in 2023, with an adjusted EBITDA margin of 45.7% compared to 40.1%[36] Other Financial Information - The company incurred $25.3 million in non-recurring professional fees, M&A integration, and restructuring expenses for the three months ended December 31, 2024[36] - The company reported impairment losses on intangibles of $47.0 million for the three months ended December 31, 2023[36] Market Presence - The company operates in 18 markets, primarily in the Midwest and Southeast, serving nearly 2.0 million consumers[27] - The company passed approximately 31,500 new homes in Greenfield markets, increasing penetration rates to 16.6%[3] Strategic Initiatives - The company plans to continue reviewing subscriber information policies to ensure accuracy across different markets[35]

Core Insights - WideOpenWest, Inc. ("WOW!") reported a penetration rate increase to 16.6% in Greenfield markets, passing an additional 31,500 homes in 2024 [3][15] - The company experienced a year-over-year growth in Adjusted EBITDA of 4.7%, reflecting strong cost management and operational efficiencies [3][11] - Total revenue for the year ended December 31, 2024, was $630.9 million, a decrease of 8.1% compared to 2023 [4][11] Financial Performance - Total Revenue for Q4 2024 was $152.6 million, down $16.2 million or 9.6% from Q4 2023 [11][25] - Subscription Revenue for Q4 2024 was $140.3 million, a decrease of 9.8% year-over-year [5][11] - Adjusted EBITDA for Q4 2024 was $73.7 million, an increase of 3.5% compared to Q4 2023 [11][13] Subscriber Metrics - Total Subscribers as of December 31, 2024, were 478,700, a decrease of 25,400 from the previous year [14] - High-Speed Data (HSD) RGUs totaled 470,400, down 19,700 compared to December 31, 2023 [14] Market Expansion - The company passed approximately 61,900 homes in Greenfield initiatives, achieving a penetration rate of 16.6% [15] - Edge-out projects passed 8,300 new homes with a penetration rate of 39.8% as of December 31, 2024 [16] Capital Expenditures - Capital Expenditures for the year ended December 31, 2024, totaled $215.8 million, a decrease of 19.7% compared to 2023 [17] - Core Capital Expenditures represented 20.8% of Total Revenue for the year [17] Liquidity and Debt - As of December 31, 2024, total outstanding long-term debt was $1,017.4 million, with cash and cash equivalents of $38.8 million [19] - The company entered into a new Priority Credit Agreement during Q4 2024, refinancing prior debt and including $200 million in new borrowings [18] Acquisition Proposal - On May 2, 2024, WOW! received an unsolicited acquisition proposal from DigitalBridge Investments, LLC, which is currently under evaluation by a special committee [20]

Group 1 - WOW! Internet, TV & Phone will host a webcast and conference call on March 14, 2025, at 8:00 a.m. ET to discuss its financial and operating results for Q4 2024 [1] - A news release reporting the results will be issued prior to the call [1] - The conference call will be available for live broadcast on the company's investor relations website [2] Group 2 - WOW! is a leading broadband provider in the U.S., serving nearly 2 million residential, business, and wholesale consumers across 19 markets [3] - The company offers a range of services including high-speed Internet, cable TV, home phone, mobile phone, business data, voice, and cloud services [3] - WOW! has been recognized 11 times as a Best & Brightest Company to Work For in the Nation, winning the award for the last seven consecutive years [3]

Company Overview - WOW! Internet, TV & Phone is a leading broadband services provider, now offering all-fiber services in Brighton, Michigan, as part of its Greenfield expansion initiative [2][6] - The company aims to add 80,000 homes to its service area in Michigan in the near future [2] - WOW! serves nearly 2 million residential, business, and wholesale consumers across 19 markets, primarily in the Midwest and Southeast [5] Service Offerings - WOW! provides a broad suite of services, including high-speed internet, cable TV, home phone, mobile phone, business data, voice, and cloud services [5] - The company offers straightforward pricing with no annual contracts and no data caps, making it easier for customers to understand their options [1][5] - WOW! mobile powered by Reach and residential bundling options with YouTube TV are also part of the service portfolio [3] Market Presence - The launch in Brighton is part of a broader strategy to enhance service availability in Central Michigan, with ongoing construction in additional communities [6] - WOW! has been recognized for its exceptional human resources practices, winning the Best & Brightest Company to Work For award for seven consecutive years [5]

Core Insights - WOW! has been recognized as a Best Company To Work For In Florida, highlighting its strong workplace culture and employee satisfaction [1] - The company is expanding its all-fiber services in Hernando County, Florida, with plans to add 44,000 homes in the coming weeks and months [5] Company Overview - WOW! is a leading broadband provider in the U.S., serving nearly 2 million residential, business, and wholesale consumers across 19 markets, primarily in the Midwest and Southeast [3] - The company offers a diverse range of services, including high-speed Internet, cable TV, home and mobile phone services, business data, voice, and cloud services [3] Service Expansion - WOW! has launched its all-fiber services in Hernando Beach, Florida, following a recent rollout in Spring Hill, enhancing its service availability in the region [4] - The new services feature simplified pricing, no annual contracts, and no data caps, making it easier for customers to access reliable broadband [5] Community Engagement - The CEO of WOW! emphasized the company's commitment to strengthening local connections and providing best-in-class customer service to residents and businesses in Hernando Beach [6]

Core Insights - WOW! Internet, TV & Phone has been recognized as a 2024 Top 50 DEI Team by the OnCon Icon Awards, highlighting its commitment to diversity, equity, and inclusion [1][4] Group 1: Recognition and Awards - The OnCon Icon Awards are determined through a combination of organizational observation and public voting, recognizing teams that demonstrate success and positive impact [2] - WOW!'s Inclusion and Belonging team was acknowledged for its contributions to fostering a workplace culture that values respect, integrity, and accountability [3][4] Group 2: Company Culture and Values - The Inclusion and Belonging team at WOW! is dedicated to creating a workplace where all employees are valued and empowered, promoting policies that inspire collaboration [3] - The team has implemented training for talent acquisition personnel to engage a diverse candidate pool, aligning with WOW!'s diverse customer base [3] Group 3: Company Overview - WOW! is a leading broadband provider serving nearly 2 million customers across 19 markets, primarily in the Midwest and Southeast [5] - The company offers a wide range of services, including high-speed internet, cable TV, and cloud services, and has been recognized multiple times for its exceptional human resources practices [5]

Financial Data and Key Metrics Changes - High-speed data (HSD) revenue for Q3 2024 was $107.5 million, a decrease of 2.1% year-over-year but an increase of 2.4% from Q2 2024, attributed to a small rate increase and simplified pricing [11][19] - Total revenue for Q3 2024 decreased by 8.7% to $158 million, with video and telephony revenue dropping by 28% and 9.5% respectively [19] - Adjusted EBITDA reached a record $77.3 million, up 9% year-over-year, with an adjusted EBITDA margin of 48.9% [11][20] Business Line Data and Key Metrics Changes - The penetration rate in greenfield fiber markets increased to 17.5%, up from 15.4% at the end of Q2 2024, driven by strong performance in the residential business [13] - The Edge-out penetration rate for the 2024 vintage increased to 45%, growing over 6 percentage points, while the 2023 vintage reached 29.7% [14] - The traditional video business saw a decline to 66,300 subscribers, a 34% decrease from the same period last year [16] Market Data and Key Metrics Changes - The company experienced a loss of 4,400 HSD subscribers during the quarter, with approximately 1,900 losses attributed to the ending of the ACP program [14] - The company added 1,100 fiber HSD subscribers in greenfield markets and 1,200 in edge-out expansion markets, partially offsetting the drop in legacy footprint [14] Company Strategy and Development Direction - The company is focused on re-accelerating its fiber greenfield strategy, aiming to pass 400,000 new homes over the next few years [9][21] - The partnership with YouTube TV is expected to enhance content offerings and capitalize on the shift to video streaming [17] - The company plans to continue restructuring away from its video platform to improve efficiency and profitability [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery from hurricane impacts, estimating a loss of 6,000 to 7,000 subscribers due to the storms [30] - Positive trends were noted in legacy markets, with initiatives like speed upgrades and simplified pricing contributing to reduced churn and increased customer loyalty [31][32] - The company anticipates continued growth in penetration rates and customer acquisition in expansion markets [33] Other Important Information - The company closed a $200 million super priority term loan to enhance liquidity and support its fiber expansion initiatives [9][21] - Total capital spend for Q3 was $40.5 million, reflecting a significant decrease in expansion CapEx [22] Q&A Session Summary Question: Expectations for broadband trends excluding ACP impact and storm - Management noted that the impact from ACP roll-off is complete, and they are still assessing the hurricane's impact, estimating 6,000 to 7,000 subscriber losses [28][30] Question: CapEx plans and new builds - Management confirmed an additional $10 million in CapEx for greenfield expansion in Q4, bringing total greenfield spend for 2024 to around $70 million [34] Question: Financial projections and modeling - Management indicated that legacy markets remain profitable and cash-generating, while greenfield markets are still in the investment phase [38] Question: Update on acquisition proposals - Management stated that there are no new updates regarding the unsolicited acquisition proposals from Digital Bridge and Crestview Partners [41]

Group 1: Earnings Performance - WideOpenWest reported a quarterly loss of $0.27 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.15, marking an earnings surprise of -80% [1] - The company posted revenues of $158 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.45%, but down from $173.1 million year-over-year [2] - Over the last four quarters, WideOpenWest has only surpassed consensus EPS estimates once [2] Group 2: Stock Performance and Outlook - WideOpenWest shares have increased approximately 27.7% since the beginning of the year, outperforming the S&P 500's gain of 20.1% [3] - The company's earnings outlook is mixed, with the current consensus EPS estimate for the coming quarter at -$0.14 on revenues of $156.1 million, and -$0.61 on revenues of $633.7 million for the current fiscal year [7] - The Zacks Rank for WideOpenWest is currently 3 (Hold), indicating expected performance in line with the market in the near future [6] Group 3: Industry Context - The Cable Television industry, to which WideOpenWest belongs, is currently ranked in the top 27% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment [5]

Financial Performance - Total revenue for the three months ended September 30, 2024, was $158.0 million, a decrease of 8.9% compared to $173.1 million for the same period in 2023[6]. - Net loss for the three months ended September 30, 2024, was $22.4 million, compared to a net loss of $104.5 million for the same period in 2023[6]. - The company reported a basic loss per common share of $0.27 for the three months ended September 30, 2024, compared to a basic loss per share of $1.29 for the same period in 2023[6]. - The net loss for the nine months ended September 30, 2024, was $48.2 million, compared to a net loss of $244.2 million for the same period in 2023[12]. - Total revenue for the three months ended September 30, 2024, was $158.0 million, a decrease of 8.9% from $173.1 million for the same period in 2023[22]. - Subscription revenue decreased by $14.3 million, or 9%, during the three months ended September 30, 2024, compared to the same period in 2023[118]. Expenses and Liabilities - Operating expenses (excluding depreciation and amortization) decreased to $62.6 million for the three months ended September 30, 2024, from $75.6 million in the same period of 2023, reflecting a reduction of 17.8%[6]. - The company incurred impairment losses on intangibles amounting to $259.8 million in the previous year[12]. - Selling, general and administrative expenses increased by $0.4 million, or 1%, during the three months ended September 30, 2024, compared to the same period in 2023[123]. - Interest expense increased by $12.7 million, or 67%, for the three months ended September 30, 2024, and by $19.3 million, or 38%, for the nine months ended September 30, 2024, compared to the same periods in 2023, primarily due to higher debt balances and new interest rate derivatives[126]. - Total liabilities increased to $1,277.5 million as of September 30, 2024, compared to $1,256.5 million as of December 31, 2023[5]. Assets and Equity - Total assets as of September 30, 2024, were $1,494.1 million, a decrease from $1,514.7 million as of December 31, 2023[5]. - The company reported a total stockholders' equity of $216.6 million as of September 30, 2024[9]. - Stockholders' equity decreased from $258.2 million as of December 31, 2023, to $216.6 million as of September 30, 2024, a decline of approximately 16.1%[5]. - The company’s retained earnings showed a deficit of $27.9 million as of September 30, 2024, compared to accumulated earnings of $20.3 million as of December 31, 2023[5]. Cash Flow - Cash provided by operating activities for the nine months ended September 30, 2024, was $132.8 million, an increase from $90.4 million in the prior year[12]. - Cash and cash equivalents decreased to $21.6 million as of September 30, 2024, from $23.4 million as of December 31, 2023[4]. - The company reported a decrease in cash and cash equivalents of $1.8 million for the nine months ended September 30, 2024[12]. - Net cash provided by financing activities was $29.3 million for the nine months ended September 30, 2024, compared to $89.3 million for the same period in 2023[143]. Market and Competition - The company anticipates continued challenges due to increased competition and rising programming costs, impacting future performance[3]. - The company serves customers in 16 markets across the United States, including major cities in Michigan, Georgia, South Carolina, Alabama, Tennessee, and Florida[14]. Stock and Compensation - The company repurchased approximately 4.9 million shares for $50.4 million under its Share Repurchase Program, completed in June 2023[58]. - The stock incentive plan has authorized 18,424,128 shares for issuance, with 2,692,141 shares outstanding as of September 30, 2024[52][55]. - The Company recorded $2.4 million in stock-based compensation expense for the three months ended September 30, 2024, down from $3.5 million in the same period of 2023[54]. Debt and Financing - As of September 30, 2024, the total long-term debt, finance lease obligations, and other financing amounted to $976.1 million, an increase from $938.3 million as of December 31, 2023[49]. - The outstanding balance of Term B Loans was $706.4 million as of September 30, 2024, with an effective interest rate of 7.60%[49]. - The Company has a total available borrowing capacity of $250.0 million, with $245.0 million drawn on the Revolving Credit Facility as of September 30, 2024[49]. Impairment and Write-downs - The company recorded a loss of $2.4 million related to the estimated write-down of damaged fixed assets due to Hurricane Helene[38]. - The company recognized a non-cash impairment charge of $131.7 million for the three months ended September 30, 2023, but did not recognize such charges for the same period in 2024[125]. Future Projections - The company expects to recognize total expected revenue of $101.3 million from subscription services and other business services in future periods[33]. - Revenue from month-to-month residential subscription service contracts is expected to continue representing a significant portion of the company's revenue in future periods[30].

Financial Performance - Total Revenue for Q3 2024 was $158.0 million, a decrease of $15.1 million, or 8.7%, compared to Q3 2023[3] - HSD Revenue totaled $107.5 million, down $2.3 million, or 2.1%, compared to Q3 2023[3] - Net Loss for Q3 2024 was $22.4 million, an improvement from a net loss of $104.5 million in Q3 2023[8] - Adjusted EBITDA for Q3 2024 was $77.3 million, an increase of $6.4 million, or 9.0%, compared to Q3 2023, with an Adjusted EBITDA margin of 48.9%[9] - Total revenue for the three months ended September 30, 2024, was $158.0 million, a decrease of 8.9% from $173.1 million in the same period of 2023[21] - Total subscription services revenue for the nine months ended September 30, 2024, was $441.5 million, down 8.0% from $480.1 million in the prior year[21] - The company reported a net loss of $48.2 million for the nine months ended September 30, 2024, compared to a net loss of $244.2 million in the same period of 2023[22] - Adjusted EBITDA for the nine months ended September 30, 2024, was $158.0 million, an increase from $141.3 million in the same period of 2023[22] - The company reported a basic and diluted loss per common share of $0.59 for the nine months ended September 30, 2024, compared to a loss of $2.99 in the same period of 2023[21] - Adjusted EBITDA for the nine months ended September 30, 2024, was $214.7 million, representing an increase from $204.2 million in the same period of 2023, with an adjusted EBITDA margin of 44.9%[33] Subscriber Metrics - Total Subscribers as of September 30, 2024, were approximately 490,500, a decrease of 26,900, or 5%, compared to September 30, 2023[10] - The total number of subscribers decreased to 490,500 as of September 30, 2024, down from 517,400 as of September 30, 2023[35] - High-Speed Data (HSD) RGUs decreased to 480,600 as of September 30, 2024, from 503,400 as of September 30, 2023[35] - Video RGUs declined to 66,300 as of September 30, 2024, down from 100,800 as of September 30, 2023[35] Capital Expenditures and Debt - Capital Expenditures totaled $40.5 million for Q3 2024, a decrease of $24.0 million compared to Q3 2023[13] - Capital expenditures for the nine months ended September 30, 2024, were $164.1 million, a decrease from $188.3 million in the prior year[22] - Total outstanding long-term debt and finance lease obligations as of September 30, 2024, was $973.0 million[15] - The company closed on a new $200.0 million super-priority term loan on October 11, 2024, to strengthen its balance sheet[14] Market Expansion - Market Expansion projects passed an additional 1,700 homes in Q3 2024, with a 17.5% penetration rate in Greenfield initiatives[11] - Homes passed increased to 1,952,200 as of September 30, 2024, compared to 1,905,600 as of September 30, 2023[35] - The company serves nearly 2.0 million residential, business, and wholesale consumers across 16 markets, primarily in the Midwest and Southeast[23] Operational Expenses - The company incurred $17.4 million in non-recurring professional fees, M&A integration, and restructuring expenses for the three months ended September 30, 2024[33] - Interest expense increased to $31.6 million for the three months ended September 30, 2024, compared to $18.9 million in the same period of 2023[33] Future Guidance - Full Year 2024 guidance for Total Revenue is projected between $629.0 million and $633.0 million[17] Employee Recognition - The company has been recognized nine times as a Best & Brightest Company to Work For in the Nation, reflecting its commitment to exceptional human resources practices[23]