ENGLEWOOD, Colo., July 16, 2024 /PRNewswire/ -- WOW! Internet, TV & Phone (NYSE: WOW), a leading broadband services provider, was named a 2024 Best and Brightest Company to Work For in the Nation® for the 11th time, and for the seventh consecutive year, by the National Association for Business Resources (NABR). "What I love about working at WOW! is how I've had the chance to grow professionally in my role and, at the same time, learn so much outside of it as well," said Megan Sapp, senior manager of enterpr ...

Since November 2023, shares of WideOpenWest's common stock have declined in value from a trading price of over $7.50 per share to a current trading price of approximately $5.00 per share, a decline of over 33% in value. WideOpenWest shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) for additional information about this investigation and their legal rights and options at (484) 229 – 0750, or by clicking on the following link (or if necessary, copying and ...

WideOpenWest, Inc. (NYSE:WOW) Q1 2024 Results Conference Call May 7, 2024 8:00 AM ET Company Participants Andrew Posen - Vice President, Head of Investor Relations Teresa Elder - Chief Executive Officer John Rego - Chief Financial Officer Operator Thank you for standing by. My name is Dee, and I will be your conference operator today. At this time, I would like to welcome everyone to the WideOpenWest First Quarter 2024 Earnings Call. I would now like to turn the call over to Andrew Posen, Vice President, He ...

PART I. Financial Information [Financial Statements (Unaudited)](index=5&type=section&id=Item%201%3A%20Financial%20Statements%20%28Unaudited%29) This section presents the unaudited condensed consolidated financial statements for Q1 2024, including balance sheets, operations, equity, and cash flows [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets were $1,536.0 million and total stockholders' equity was $244.6 million Condensed Consolidated Balance Sheet Highlights (in millions) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total Current Assets** | $111.9 | $110.2 | | **Total Assets** | **$1,536.0** | **$1,514.7** | | **Total Current Liabilities** | $169.1 | $169.6 | | **Total Liabilities** | **$1,291.4** | **$1,256.5** | | **Total Stockholders' Equity** | **$244.6** | **$258.2** | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q1 2024, total revenue was $161.5 million, resulting in a net loss of $15.0 million, a significant improvement from the $38.0 million net loss in Q1 2023 Condensed Consolidated Statement of Operations (in millions, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Revenue** | **$161.5** | **$172.2** | | Operating Expenses | $67.5 | $78.1 | | Selling, General & Administrative | $36.4 | $85.5 | | Income (Loss) from Operations | $5.2 | $(36.9) | | **Net Loss** | **$(15.0)** | **$(38.0)** | | **Basic & Diluted Loss Per Share** | **$(0.18)** | **$(0.46)** | [Condensed Consolidated Statements of Stockholders' Equity](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity) Stockholders' equity decreased to $244.6 million in Q1 2024, driven by a net loss and treasury stock purchases, partially offset by stock-based compensation - Total stockholders' equity decreased by **$13.6 million** during Q1 2024, from **$258.2 million** to **$244.6 million**[15](index=15&type=chunk) - Key changes included a **$15.0 million** net loss, **$1.6 million** for share purchases, and a **$3.0 million** addition from stock-based compensation[15](index=15&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities was $33.2 million in Q1 2024, leading to a net decrease in cash of $4.2 million and an ending balance of $19.2 million Summary of Cash Flows (in millions) | Cash Flow Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $33.2 | $32.6 | | Net Cash used in Investing Activities | $(72.5) | $(60.1) | | Net Cash from Financing Activities | $35.1 | $17.7 | | **Net Decrease in Cash** | **$(4.2)** | **$(9.8)** | | **Cash at End of Period** | **$19.2** | **$21.2** | [Notes to the Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) The notes provide detailed explanations of accounting policies and financial statement line items, including revenue, debt, and significant prior-year patent settlement accruals Revenue by Service Offering (in millions) | Service | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Residential HSD | $86.9 | $86.8 | | Residential Video | $29.3 | $39.2 | | Residential Telephony | $4.8 | $5.6 | | Business Subscription | $28.0 | $27.8 | | Other | $12.5 | $12.8 | | **Total Revenue** | **$161.5** | **$172.2** | - In Q1 2024, the company entered into five separate pay-fixed interest rate swap agreements, each with a notional amount of **$100 million**, to hedge approximately **52%** of its term loan variable rate exposure[64](index=64&type=chunk)[65](index=65&type=chunk) - A patent infringement claim from Sprint was settled in April 2023, resulting in a **$46.8 million** expense accrual included in SG&A for the quarter ended March 31, 2023[70](index=70&type=chunk)[71](index=71&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=24&type=section&id=Item%202%3A%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2024 financial performance, emphasizing the 'broadband first' strategy, a 6% revenue decrease, and an improved net loss of $15.0 million - The company's core strategy is 'broadband first,' focusing on HSD as the greatest opportunity for profitability[77](index=77&type=chunk) - In Q1 2024, approximately **92%** of new residential connections were for HSD only, an increase from **88%** in Q1 2023[78](index=78&type=chunk) Subscriber Trends | Metric | March 31, 2023 | March 31, 2024 | | :--- | :--- | :--- | | Homes Passed | 1,885,700 | 1,948,500 | | Total Subscribers | 527,300 | 500,700 | | HSD RGUs | 508,700 | 489,700 | | Video RGUs | 117,100 | 79,300 | [Results of Operations](index=29&type=section&id=Results%20of%20Operations) Total revenue for Q1 2024 decreased by 6% to $161.5 million, while operating expenses fell and SG&A expenses dropped significantly due to the absence of a prior-year litigation settlement - Total subscription revenue decreased by **$10.4 million** (**7%**) due to a reduction in Video and HSD RGUs, partially offset by ARPU increases from rate hikes[95](index=95&type=chunk) - Operating expenses decreased by **$10.6 million** (**14%**), largely due to an **$8.9 million** reduction in programming costs corresponding to the decline in Video subscribers[98](index=98&type=chunk) - SG&A expenses decreased by **$49.1 million** (**57%**), primarily due to the absence of the patent litigation settlement expense recorded in Q1 2023[100](index=100&type=chunk) - Interest expense increased by **$6.1 million** (**41%**) due to a higher overall debt balance, higher interest rates, and the impact of new derivative instruments[102](index=102&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2024, the company had $19.2 million in cash and $4.3 million available credit, with $33.2 million cash from operations and increased capital expenditures - As of March 31, 2024, the company had **$19.2 million** in cash and cash equivalents and **$4.3 million** of available borrowing capacity under its Revolving Credit Facility[109](index=109&type=chunk)[110](index=110&type=chunk) Capital Expenditures Breakdown (in millions) | Category | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Scalable infrastructure | $32.6 | $17.9 | | Customer premise equipment | $18.6 | $16.2 | | Line extensions | $11.1 | $16.0 | | Support capital and other | $10.2 | $10.1 | | **Total** | **$72.5** | **$60.2** | | *Included in total - Greenfields* | *$43.1* | *$20.2* | [Quantitative and Qualitative Disclosures about Market Risk](index=34&type=section&id=Item%203%3A%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate fluctuations on its variable-rate debt, mitigated by swaps, with a 1% SOFR change impacting annual interest expense by $4.5 million - The company's main market risk is from fluctuating interest rates on its variable-rate debt[118](index=118&type=chunk) - As of March 31, 2024, after considering interest rate swaps, approximately **48%** of the Senior Secured Credit Facility is still variable rate debt[118](index=118&type=chunk) - A hypothetical **100 basis point (1%)** change in SOFR would result in an annual interest expense change of approximately **$4.5 million**[118](index=118&type=chunk) [Controls and Procedures](index=36&type=section&id=Item%204%3A%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2024, with no material changes in internal control over financial reporting - The CEO and CFO concluded that disclosure controls and procedures were effective as of March 31, 2024[121](index=121&type=chunk) - There were no changes in internal control over financial reporting during Q1 2024[122](index=122&type=chunk) PART II. Other Information [Legal Proceedings](index=37&type=section&id=Item%201%3A%20Legal%20Proceedings) The company refers to Note 13 for details on legal proceedings, including the significant patent infringement settlement with Sprint from Q1 2023 - For details on legal proceedings, the report refers to Note 13 – Commitments and Contingencies[125](index=125&type=chunk) [Risk Factors](index=37&type=section&id=Item%201A%3A%20Risk%20Factors) There have been no material changes to the risk factors set forth in the 2023 Annual Report on Form 10-K - There have been no material changes to the risk factors set forth in the 2023 Annual Report on Form 10-K[126](index=126&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=37&type=section&id=Item%202%3A%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company purchased 339,891 shares in Q1 2024 for employee tax withholding on vested restricted stock awards, not as part of a public buyback - During Q1 2024, the company purchased **339,891** of its own shares. These were not part of a buyback program but were shares withheld from employees to cover taxes on vested restricted stock awards[127](index=127&type=chunk) [Defaults Upon Senior Securities](index=37&type=section&id=Item%203%3A%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[128](index=128&type=chunk) [Mine Safety Disclosures](index=37&type=section&id=Item%204%3A%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[129](index=129&type=chunk) [Other Information](index=37&type=section&id=Item%205%3A%20Other%20Information) No directors or Section 16 officers adopted, amended, or terminated any Rule 10b5-1 trading plans or other arrangements during Q1 2024 - No directors or Section 16 officers amended, adopted, or terminated any Rule 10b5-1 trading arrangements during Q1 2024[130](index=130&type=chunk) [Exhibits](index=38&type=section&id=Item%206%3A%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including corporate documents, Sarbanes-Oxley certifications, and iXBRL financial statements - The report lists filed exhibits, including Sarbanes-Oxley certifications (31.1, 31.2, 32.1) and iXBRL data (101, 104)[131](index=131&type=chunk)

Exhibit 99.1 WOW! REPORTS FIRST QUARTER 2024 RESULTS First Quarter 2024 Highlights (1) "Our first quarter results represent a strong start to the year as we make further progress in our new Greenfield markets and continued improvements in our legacy footprint," said Teresa Elder, WOW!'s CEO. "The strong penetration rates across our business reinforces our conviction in our strategy and confidence in our teams to continue growing our business." "Our first quarter results which included year-over-year growth ...

Financial Data and Key Metrics Changes - High-speed data (HSD) revenue for Q4 2023 was $108.7 million, up 1.5% year-over-year, while total revenue declined by 6.5% to $168.8 million due to drops in video and telephony revenue [9][22] - Adjusted EBITDA for Q4 2023 was $71.2 million, a decrease of 4.6% year-over-year, but with a record adjusted EBITDA margin of 42.2% [9][22] - For the full year, HSD revenue increased 4.4% to $430.4 million, while adjusted EBITDA declined by 1.7% to $275.4 million, with an adjusted EBITDA margin of 40.1% [10] Business Line Data and Key Metrics Changes - HSD revenue now constitutes 64% of total revenue, up from 59% in the same period last year, indicating a shift towards higher-margin services [22] - HSD average revenue per user (ARPU) reached a new high of $72.90, with expectations for further increases in 2024 [16] Market Data and Key Metrics Changes - The company passed 48,400 new homes in 2023, with 30,400 in Greenfield markets and 18,000 in Edge-outs, marking the most robust quarterly expansion in its history [10][11] - Penetration rates in Greenfield markets decreased to just under 10% in Q4 due to increased homes passed, but cohorts showed strong penetration rates averaging over 20% within the first six months after activation [18] Company Strategy and Development Direction - The company is focusing on market expansion and has seen positive early indicators in legacy markets to stabilize subscriber losses [8] - A simplified pricing model with no data caps and price locks has been introduced, which has been well received by customers [14] - The partnership with YouTube TV is expected to enhance content offerings and capitalize on the shift to video streaming [17] Management's Comments on Operating Environment and Future Outlook - Management noted that subscriber losses in Q4 were in line with expectations due to a challenging macro environment, but improvements are anticipated in Q1 2024 [13][32] - The company expects HSD subscribers to decline between 2,000 and 500 in Q1, a significant improvement from Q4 [33] Other Important Information - The company ended Q4 with total cash of $23.4 million and total outstanding debt of $934.5 million, with a leverage ratio of 3.3 times [26] - Expansion capital expenditures increased by $26.3 million year-over-year, with a focus on future growth [27] Q&A Session Summary Question: Guidance on improved broadband subscriber trajectory in Q1 - Management indicated that Q4 results were unusual due to a large rate increase and significant promo roll-offs, and they expect improvements in Q1 due to new strategies [34][35] Question: ACP program exposure and churn mitigation - The company has 30,000 customers on the ACP program, with 99% opting to continue services post-program, indicating confidence in subscriber retention [38] Question: Competitive landscape regarding telco fiber overlap - Management acknowledged some telco overlap but expressed confidence in competing effectively in those areas [40] Question: Subscriber losses versus new builds - Management noted that while there are losses in legacy markets, they are seeing improvements and expect a reversal of trends [46][47] Question: Customer churn reasons and competitive pressures - The majority of churn is to larger competitors like Comcast and Charter, but management is implementing strategies to reduce churn [50][51] Question: Liquidity position and CapEx plans - The company plans to be free cash flow positive for the full year, with reduced discretionary spending on expansion capital [64][66]

PART I [Business](index=3&type=section&id=Item%201%2E%20Business) WideOpenWest is a US broadband provider offering HSD, Video, and Telephony services across 16 markets - As of December 31, 2023, the company's network passed **1.9 million homes** and businesses, serving **504,100 customers**, a penetration rate of approximately **26%**[12](index=12&type=chunk) - The company's core strategy is 'broadband first', with approximately **89% of new customers** in 2023 purchasing HSD-only offerings[14](index=14&type=chunk)[21](index=21&type=chunk) - WOW faces significant competition from major cable operators, telecommunications companies, mobile 5G providers, and OTT video distributors[46](index=46&type=chunk)[47](index=47&type=chunk)[49](index=49&type=chunk) - As of December 31, 2023, the company employed **1,360 full-time employees** and emphasizes a culture of diversity, equity, and inclusion[53](index=53&type=chunk)[59](index=59&type=chunk) [Service Offerings](index=4&type=section&id=Our%20Service%20Offerings) The company provides tiered HSD, Video, and Telephony services with a primary focus on high-speed data - Approximately **76% of the customer base subscribed only to HSD service** as of December 31, 2023, reflecting the success of the broadband-first strategy[24](index=24&type=chunk) - The company offers a modern video platform, WOW tv+, which integrates traditional cable with cloud DVR and access to streaming apps[27](index=27&type=chunk) - Business services include advanced offerings such as fiber-based data speeds up to **10 Gbps**, metro Ethernet, and cloud infrastructure services[30](index=30&type=chunk)[44](index=44&type=chunk) [Competition](index=8&type=section&id=Competition) The company operates in a highly competitive environment against cable, FTTH, 5G, and OTT providers - Primary cable competitors are typically **Comcast or Charter**, while the largest telecommunications competitor is **AT&T**[46](index=46&type=chunk) - The company faces increasing competition from mobile phone companies like AT&T, T-Mobile, and Verizon, which offer **5G fixed wireless internet services**[47](index=47&type=chunk) - Video services face growing pressure from OTT content providers and virtual multichannel video programming distributors like YouTube TV[49](index=49&type=chunk) [Legislation and Regulation](index=10&type=section&id=Legislation%20and%20Regulation) Operations are subject to extensive federal, state, and local regulations, including potential net neutrality rules - In October 2023, the FCC proposed to reenact **'net neutrality' requirements** and classify broadband as a 'common carrier' service[74](index=74&type=chunk) - The company participates in the **Affordable Connectivity Program (ACP)**, a federal initiative providing discounts on broadband services[93](index=93&type=chunk) - All telecommunications providers must contribute to the Universal Service Fund, with the contribution factor for Q4 2023 at **34.5%**[91](index=91&type=chunk) [Risk Factors](index=17&type=section&id=Item%201A%2E%20Risk%20Factors) The company faces risks from intense competition, technological change, rising costs, regulation, and high debt - The company faces intense competition from larger rivals, network upgrades for 5G and fiber, and the rise of OTT content delivery[104](index=104&type=chunk)[105](index=105&type=chunk)[106](index=106&type=chunk) - Programming is the **largest single operating expense**, and costs are expected to continue rising rapidly[111](index=111&type=chunk) - The company has **substantial indebtedness**, making it sensitive to interest rate increases and limiting its operational flexibility[148](index=148&type=chunk)[149](index=149&type=chunk)[152](index=152&type=chunk) - **Crestview Partners owns approximately 38%** of the company's common stock, giving it significant influence over corporate decisions[154](index=154&type=chunk) [Unresolved Staff Comments](index=30&type=section&id=Item%201B%2E%20Unresolved%20Staff%20Comments) There are no unresolved staff comments [Cybersecurity](index=30&type=section&id=Item%201C%2E%20Cybersecurity) The company manages cybersecurity through an enterprise-wide program overseen by the Audit Committee - The company has an enterprise-wide information security program to identify, protect, detect, respond to, and manage cybersecurity risks[182](index=182&type=chunk) - Cybersecurity governance is overseen by the Chief Technology Officer, with the **Audit Committee receiving quarterly updates** on risks and incidents[187](index=187&type=chunk)[188](index=188&type=chunk) - While systems periodically experience attacks, these incidents **have not had a material impact** on its service, systems, or business to date[184](index=184&type=chunk) [Properties](index=31&type=section&id=Item%202%2E%20Properties) The company leases its corporate offices and owns or leases all other necessary operational assets - The company's executive offices are leased, while its operating subsidiaries own or lease all other necessary fixed assets for business operations[190](index=190&type=chunk)[191](index=191&type=chunk) [Legal Proceedings](index=31&type=section&id=Item%203%2E%20Legal%20Proceedings) The company is party to various legal proceedings in the normal course of business - Refer to Note 17 – Commitments and Contingencies for a discussion of the Company's legal proceedings[192](index=192&type=chunk) [Mine Safety Disclosures](index=31&type=section&id=Item%204%2E%20Mine%20Safety%20Disclosures) This section is not applicable to the company PART II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=32&type=section&id=Item%205%2E%20Market%20for%20Registrant's%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's stock trades on the NYSE under 'WOW' and it does not currently pay dividends - The company's common stock has traded on the NYSE under the symbol **'WOW'** since its IPO on May 25, 2017[195](index=195&type=chunk) - **No dividends have been declared or paid** on common stock, and the company does not anticipate paying cash dividends in the foreseeable future[197](index=197&type=chunk) Equity Securities Purchases (Q4 2023) | Period | Number of Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | October 2023 | 560 | $7.04 | | November 2023 | 78,164 | $4.00 | | December 2023 | 1,669 | $4.05 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Item%207%2E%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Revenue decreased 3% in 2023, resulting in a significant net loss due to a large non-cash impairment charge Financial Results Summary (2023 vs. 2022) | Metric | 2023 (in millions) | 2022 (in millions) | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $686.7 | $704.9 | -2.6% | | Loss from Operations | $(315.0) | $(0.7) | N/A | | Impairment Losses | $306.8 | $35.0 | +776.6% | | Interest Expense | $71.1 | $38.7 | +83.7% | | Net Loss | $(287.7) | $(2.5) | N/A | - The company recognized a **non-cash impairment charge of $306.8 million** on its franchise operating rights in 2023[253](index=253&type=chunk) - Selling, general and administrative (SG&A) expenses increased by **21% to $35.0 million**, largely due to a patent litigation settlement[251](index=251&type=chunk) - Capital expenditures rose by **$101.7 million to $268.9 million** in 2023, driven by increased investment in market expansion and greenfield initiatives[273](index=273&type=chunk) [Results of Operations](index=40&type=section&id=Results%20of%20Operations) Total revenue decreased 3% due to subscriber losses, while operating loss was driven by a major impairment charge - Subscription revenue decreased by **2%** due to a service mix shift, partially offset by a **$42.9 million increase in ARPU**[246](index=246&type=chunk) - Operating expenses decreased by **8%**, primarily driven by a **$21.5 million reduction in programming expenses**[249](index=249&type=chunk) - Interest expense increased by **$32.4 million (84%)** due to higher interest rates and increased borrowings on the revolving credit facility[254](index=254&type=chunk) [Liquidity and Capital Resources](index=43&type=section&id=Liquidity%20and%20Capital%20Resources) The company funds operations through cash, operating flows, and its revolving credit facility - As of December 31, 2023, the company had **$23.4 million in cash** and cash equivalents and **$44.3 million of available borrowing capacity**[263](index=263&type=chunk)[264](index=264&type=chunk) - The company completed its **$50.0 million share repurchase program** in June 2023, having repurchased approximately 4.9 million shares[265](index=265&type=chunk) Capital Expenditures Breakdown (2023 vs. 2022) | Category | 2023 (in millions) | 2022 (in millions) | | :--- | :--- | :--- | | Scalable infrastructure | $80.1 | $39.4 | | Customer premise equipment | $65.7 | $64.6 | | Line extensions | $70.2 | $26.8 | | Support capital and other | $52.9 | $36.4 | | **Total** | **$268.9** | **$167.2** | | *Included in Total:* | | | | Greenfields | $105.0 | $21.5 | [Critical Accounting Estimates](index=35&type=section&id=Critical%20Accounting%20Estimates) Key estimates involve valuing intangible assets, which led to a $306.8 million impairment charge in 2023 - The company evaluates franchise operating rights for impairment annually, leading to a **$306.8 million impairment charge** in 2023[226](index=226&type=chunk) - Goodwill is also tested annually for impairment, with the tests for 2023, 2022, and 2021 resulting in **no impairment charges**[228](index=228&type=chunk) - Accounting for income taxes requires significant judgment in assessing the realizability of deferred tax assets and reserves[229](index=229&type=chunk)[230](index=230&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=46&type=section&id=Item%207A%2E%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate fluctuation on its variable-rate debt - The company's main market risk is from interest rate fluctuations on its variable rate debt; a hypothetical **1% change in SOFR** would impact annual interest expense by approximately **$9.2 million**[277](index=277&type=chunk) [Financial Statements and Supplementary Data](index=46&type=section&id=Item%208%2E%20Financial%20Statements%20and%20Supplementary%20Data) This section contains audited financial statements with an unqualified opinion from BDO USA, P.C - The independent auditor, BDO USA, P.C, issued an **unqualified opinion** on the consolidated financial statements and internal controls[287](index=287&type=chunk)[308](index=308&type=chunk) - The auditor identified the determination of the fair value of certain franchise operating rights as a **critical audit matter**[312](index=312&type=chunk)[315](index=315&type=chunk) [Controls and Procedures](index=46&type=section&id=Item%209A%2E%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal controls over financial reporting were effective - The Chief Executive Officer and Chief Financial Officer concluded that the company's **disclosure controls and procedures were effective**[281](index=281&type=chunk) - Management assessed the effectiveness of internal controls over financial reporting based on the COSO framework and concluded **they were effective**[285](index=285&type=chunk) PART III [Directors, Executive Compensation, and Corporate Governance](index=49&type=section&id=Item%2010%2C%2011%2C%2012%2C%2013%2C%2014) Required information is incorporated by reference from the company's 2024 proxy statement - Information for Part III (Items 10-14) is **incorporated by reference** from the company's definitive proxy statement for the 2024 annual meeting[297](index=297&type=chunk) PART IV [Exhibits and Financial Statement Schedules](index=50&type=section&id=Item%2015%2E%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists financial statements and exhibits filed as part of the Form 10-K report [Form 10-K Summary](index=50&type=section&id=Item%2016%2E%20Form%2010-K%20Summary) This section is not applicable

(1) Refer to "Non-GAAP Financial Measures" "Unaudited Reconciliations of GAAP Measures to Non-GAAP Measures," and "Subscriber Information" in this Press Release for definitions and information related to Adjusted EBITDA and reconciliation of non-GAAP measures to the closest comparable GAAP measures and why our management thinks it is beneficial to present such non-GAAP measures. Exhibit 99.1 WOW! REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS Full year High-Speed Data Revenue of $430.4 million, up 4% fro ...

Table of Contents For the quarterly period ended September 30, 2023 ☐ 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 Incorporation or Organization) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE ...

Financial Data and Key Metrics Changes - Total revenue decreased by 2% year-over-year to $172.6 million, driven by a 4% increase in high-speed data revenue and declines of 12.8% and 6.2% in Video and Telephony, respectively [25][31] - Adjusted EBITDA decreased by 3.5% year-over-year to $68.1 million, with an adjusted EBITDA margin of 39.5% [26][27] - High-speed data ARPU increased to a record $70, reflecting the impact of rate increases and higher data speed purchases [17] Business Line Data and Key Metrics Changes - High-speed data revenue increased by 4%, now comprising 62% of total revenue, up from 58% in the same period last year [25][27] - The Video business continued to decline, with expectations for this trend to persist as customers shift to streaming services [14][25] - The company lost 900 high-speed data RGUs in Q2, which was better than expected, resulting in approximately 508,000 high-speed data subscribers by the end of the quarter [13] Market Data and Key Metrics Changes - The company added 16,900 new homes passed in both Greenfield and Edge-Out areas, significantly exceeding the total from the last three years combined [8][18] - Penetration rates in new markets are strong, with the 2023 vintage of Edge-Outs at 23.4% and Greenfield markets averaging 30% penetration within 30 days of launch [20][21] - Nearly 94% of new customers in new markets are purchasing speeds of 500 meg and above, indicating strong demand for higher speeds [16] Company Strategy and Development Direction - The company is focused on market expansion, aiming to build 400,000 fiber Greenfield homes by 2027, and transitioning to a broadband-first model [7][23] - The partnership with YouTube TV is a strategic move to transition from low-margin video services to a high-margin streaming service, enhancing customer value and operational efficiency [10][12] - The company is on track to surpass 50,000 new homes passed in 2023, reflecting confidence in its expansion strategy [21][50] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing transformation and the positive impact of the YouTube TV partnership on subscriber growth and ARPU [23][35] - The company anticipates mid-single-digit EBITDA growth in the near future, driven by successful market expansion and improved operational efficiencies [37] - Management acknowledged the challenges posed by the transition to YouTube TV, which will initially lower total revenue but is expected to enhance EBITDA margins over time [32][33] Other Important Information - The company reported a net loss of $101.7 million due to a non-cash impairment charge related to stock price decline, which does not affect operational capabilities [31] - Total cash at the end of the quarter was $23 million, with total outstanding debt of $868.1 million and a leverage ratio of 3.1 times [29] Q&A Session Summary Question: Discussion on base business performance and promotions - Management noted improvements in the legacy base, with a net loss of only 1,300 RGUs without Greenfields, and highlighted the positive impact of YouTube TV on HSD net adds [39][40] Question: Details on price increases and ARPU growth - The company implemented rate increases in March and July, with the majority of the base affected in July, contributing to ARPU growth [43][44] Question: Insights on Greenfield market success and future plans - Management expressed confidence in the market selection criteria and the successful execution of their playbook, with plans to pass 50,000 homes this year [48][50]