First Quarter 2023 High-Speed Data Revenue of
$105.2 million, up 5% from First
Quarter 2022
ENGLEWOOD, Colo., May 4, 2023
/PRNewswire/ -- WideOpenWest, Inc. ("WOW!" or the "Company") (NYSE:
WOW), one of the nation's leading broadband providers, with an
efficient, high-performing network that passes 1.9 million
residential, business and wholesale consumers, today announced
financial and operating results for the first quarter ended
March 31, 2023.
First Quarter 2023
Highlights (1)
- Total Revenue of $172.2 million,
a decrease of $2.4 million, or 1%,
compared to the first quarter of 2022
- HSD Revenue totaled $105.2
million, an increase of $5.1
million, or 5%, compared to the first quarter of 2022
- Net Loss was $38.0 million for
the quarter ended March 31, 2023
- Adjusted EBITDA of $65.2 million,
a decrease of $1.2 million, or 2%,
compared to the first quarter of 2022
- Passed approximately 1,700 homes in Central Florida through March 31, 2023 with construction well underway in
South Carolina
- Repurchased 1.9 million shares during the first quarter 2023 at
an average price of $10.88
"Our expansion strategy continues to build momentum in our new
Greenfield markets with 23.5% penetration in less than three
months. Construction is well underway in additional Central Florida and Greenville County, South Carolina
neighborhoods," said Teresa Elder,
WOW!'s CEO. "We are also seeing strong contribution from our core
business, as HSD revenue increased 5% from the same period last
year."
"With a net leverage ratio of 2.8x, we continue to invest in our
growth strategy as a low leverage, high growth business," said
John Rego, WOW!'s CFO. "The strong
fundamentals of our business, momentum in new markets and the
increasing contribution from HSD revenue reinforce our conviction
in our strategy and positive outlook for the year."
Revenue
Total Revenue was $172.2 million for the quarter ended
March 31, 2023, down $2.4
million, or 1%, as compared to the corresponding period in
2022.
Total Subscription Revenue for the quarter ended
March 31, 2023 was $159.4
million, down $2.6 million, or
2%, as compared to the corresponding period in 2022. The decrease
is primarily driven by a shift in service offering mix as we
continue to experience a reduction in Video and Telephony RGUs,
coupled with a decrease in volume. This is partially offset
by an increase in average revenue per unit ("ARPU") as HSD
customers upgrade to higher speed offerings.
Other Business Services Revenue totaled $5.2 million for the quarter ended
March 31, 2023, down $0.1
million as compared to the corresponding period in
2022. The decrease is primarily due to a decrease in data
center revenue.
(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,
Adjusted EBITDA margin 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.
|
Other Revenue totaled $7.6 million
for the quarter ended March 31, 2023, up $0.3 million as compared to the corresponding
period in 2022, primarily related to higher paper statement
revenue.
Costs and Expenses
Operating Expenses (excluding
Depreciation and Amortization) totaled $78.1
million for the quarter ended March 31, 2023, down
$9.2 million, or 11%, compared to the
corresponding period in 2022 primarily driven by decreases in
direct operating expense, specifically programming expense, which
aligns with the reduction in Video RGUs between periods, and lower
operating expenses related to the Transition Services Agreement
that are offset in Other Income. Selling, General, and
Administrative expenses totaled $85.5
million for the quarter ended March 31, 2023, up
$47.2 million, or 123%, compared to
the corresponding period in 2022 primarily attributable to the
patent litigation settlement.
Net Loss
Net loss for the quarter ended
March 31, 2023 was $38.0
million as compared to net income of $5.7 million for the quarter ended March 31,
2022. Net Profit Margin was (22.1)% for the quarter ended
March 31, 2023 as compared to 3.3% for the quarter ended
March 31, 2022.
Adjusted EBITDA
Adjusted EBITDA for the quarter ended
March 31, 2023, was $65.2
million, a decrease of $1.2
million, compared to the corresponding period in 2022.
Adjusted EBITDA margin was 37.9% for the quarter ended
March 31, 2023, as compared to 38.0% for the quarter
ended March 31, 2022.
Subscribers
WOW! reported Total Subscribers of 527,300
as of March 31, 2023, a decrease of 7,400, or 1%,
compared to March 31, 2022, down 3,300 compared to
December 31, 2022. HSD RGUs totaled 508,700 as of
March 31, 2023, a decrease of 6,300 or 1%, compared to
March 31, 2022, and down 2,900 compared to December 31,
2022.
Market Expansion
Edge-Out Projects reached a total of 85,600 homes passed and 21,200
Subscribers since inception.
The 2021 Edge-Out projects include 900 Subscribers, which
represents 45.0% penetration on such nodes. The 2022 Edge-Out
projects include 800 Subscribers, which represents 27.6%
penetration on such nodes. The 2023 vintage includes both, Edge-Out
projects and Greenfield expansion. The Edge-out projects include
300 Subscribers, which represents 10.7% penetration on such nodes
and the Greenfield projects include 400 Subscribers, which
represents 23.5% penetration on such nodes.
Capital Expenditures
Capital Expenditures totaled
$60.2 million for the quarter ended
March 31, 2023, representing an $18.1 million increase compared to the quarter
ended March 31, 2022. The increase is primarily related to
increases in costs related to our market expansion in locations
adjacent and nonadjacent to our existing network.
Capital Expenditures for the quarter ended
March 31, 2023 equates to 35% of Total Revenue for the
quarter ended March 31, 2023.
Liquidity and Leverage
As of March 31, 2023,
the total outstanding amount of long-term debt and finance lease
obligations was $791.2 million, and
cash and cash equivalents were $21.2
million. Total Net Leverage as of March 31, 2023,
was 2.8x on a LTM Adjusted EBITDA basis and undrawn revolver
capacity totaled $185.4 million.
Share Repurchase Program
As of March 31, 2023, we repurchased a total of 3.1
million shares for approximately $33.4
million. The authorization expires on May 3, 2024, may be suspended or discontinued at
any time and does not obligate the company to acquire any amount of
shares of common stock.
Second Quarter and
Full Year 2023 Guidance
|
|
|
|
|
|
|
|
Q2
2023
|
|
Full Year
2023
|
HSD Revenue
|
|
$106.0 - $109.0
million
|
|
$437.0 - $441.0
million
|
Total
Revenue
|
|
$173.0 - $176.0
million
|
|
$703.0 - $707.0
million
|
Adjusted
EBITDA
|
|
$65.0 - $68.0
million
|
|
$286.0 - $290.0
million
|
|
|
|
|
|
HSD net
additions
|
|
(4,000) - 0
|
|
6,000 -
10,000
|
Webcast
WOW! will host a webcast and conference call
on Thursday, May 4, 2023, at
8:00 a.m. ET to discuss the financial
and operating results contained in this press release. The
conference call and webcast will be broadcast live on the Company's
investor relations website at ir.wowway.com. Those parties
interested in participating can use the information as follows:
Call Date:
|
Thursday, May 4,
2023
|
|
Call Time:
|
8:00 a.m.
Eastern
|
|
Dial In:
|
(888)
330-3556
|
|
International:
|
(646)
960-0826
|
|
Conf. ID:
|
4844814
|
|
|
|
|
A replay of the call will be available on May 4, 2023, at 11:00 a.m.
ET, on the investor relations website or by telephone. To
access the telephone replay, which will be available until
May 17, 2023, at 11:59 p.m. ET, please dial (800) 770-2030 or
(647) 362-9199 and use conference ID 4844814.
WIDEOPENWEST, INC.
AND SUBSIDIARIES
|
CONSOLIDATED BALANCE
SHEETS
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
March 31,
|
|
December 31,
|
|
|
2023
|
|
2022
|
|
|
(in millions,
except share data)
|
Assets
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
21.2
|
|
$
|
31.0
|
Accounts
receivable—trade, net of allowance for doubtful accounts of $4.8
and $4.3, respectively
|
|
|
38.3
|
|
|
39.9
|
Accounts
receivable—other, net
|
|
|
9.8
|
|
|
12.2
|
Prepaid expenses and
other
|
|
|
43.4
|
|
|
37.8
|
Total current
assets
|
|
|
112.7
|
|
|
120.9
|
Right-of-use lease
assets—operating
|
|
|
14.5
|
|
|
15.0
|
Property, plant and
equipment, net
|
|
|
742.7
|
|
|
725.8
|
Franchise operating
rights
|
|
|
585.1
|
|
|
585.1
|
Goodwill
|
|
|
225.1
|
|
|
225.1
|
Intangible assets
subject to amortization, net
|
|
|
1.3
|
|
|
1.3
|
Other non-current
assets
|
|
|
45.4
|
|
|
44.2
|
Total
assets
|
|
$
|
1,726.8
|
|
$
|
1,717.4
|
Liabilities and
stockholders' equity
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
Accounts
payable—trade
|
|
$
|
47.2
|
|
$
|
46.1
|
Accrued
interest
|
|
|
0.2
|
|
|
0.1
|
Current portion of
long-term lease liability—operating
|
|
|
4.9
|
|
|
4.9
|
Accrued liabilities and
other
|
|
|
93.3
|
|
|
68.7
|
Current portion of
long-term debt and finance lease obligations
|
|
|
17.1
|
|
|
17.7
|
Current portion of
unearned service revenue
|
|
|
27.7
|
|
|
27.2
|
Total current
liabilities
|
|
|
190.4
|
|
|
164.7
|
Long-term debt and
finance lease obligations—less current portion and debt issuance
costs
|
|
|
774.1
|
|
|
725.0
|
Long-term lease
liability—operating
|
|
|
11.1
|
|
|
11.6
|
Deferred income taxes,
net
|
|
|
210.8
|
|
|
225.3
|
Other non-current
liabilities
|
|
|
26.1
|
|
|
15.7
|
Total
liabilities
|
|
|
1,212.5
|
|
|
1,142.3
|
Commitments and
contingencies
|
|
|
|
|
|
|
Stockholders'
equity:
|
|
|
|
|
|
|
Preferred stock, $0.01
par value, 100,000,000 shares authorized; 0 shares issued and
outstanding
|
|
|
—
|
|
|
—
|
Common stock, $0.01 par
value, 700,000,000 shares authorized; 98,614,277 and 96,830,312
issued as
of March 31, 2023 and December 31, 2022,
respectively; 85,559,520 and 86,417,733 outstanding as of
March 31, 2023 and December 31, 2022,
respectively
|
|
|
1.0
|
|
|
1.0
|
Additional paid-in
capital
|
|
|
380.3
|
|
|
374.7
|
Accumulated
income
|
|
|
270.0
|
|
|
308.0
|
Treasury stock at cost,
13,054,757 and 10,412,579 shares as of March 31, 2023 and
December 31, 2022,
respectively
|
|
|
(137.0)
|
|
|
(108.6)
|
Total stockholders'
equity
|
|
|
514.3
|
|
|
575.1
|
Total liabilities and
stockholders' equity
|
|
$
|
1,726.8
|
|
$
|
1,717.4
|
WIDEOPENWEST, INC.
AND SUBSIDIARIES
|
CONSOLIDATED
STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
|
March 31,
|
|
|
2023
|
|
2022
|
|
|
(in millions,
except share data)
|
Revenue:
|
|
|
|
|
|
|
HSD
|
|
$
|
105.2
|
|
$
|
100.1
|
Video
|
|
|
42.1
|
|
|
48.6
|
Telephony
|
|
|
12.1
|
|
|
13.3
|
Total subscription
services revenue
|
|
|
159.4
|
|
|
162.0
|
Other business
services
|
|
|
5.2
|
|
|
5.3
|
Other
|
|
|
7.6
|
|
|
7.3
|
Total
revenue
|
|
|
172.2
|
|
|
174.6
|
|
|
|
|
|
|
|
Costs and
expenses:
|
|
|
|
|
|
|
Operating (excluding
depreciation and amortization)
|
|
|
78.1
|
|
|
87.3
|
Selling, general and
administrative
|
|
|
85.5
|
|
|
38.3
|
Depreciation and
amortization
|
|
|
45.5
|
|
|
44.4
|
|
|
|
209.1
|
|
|
170.0
|
(Loss) income from
operations
|
|
|
(36.9)
|
|
|
4.6
|
Other income
(expense):
|
|
|
|
|
|
|
Interest
expense
|
|
|
(14.9)
|
|
|
(7.4)
|
Loss on sale of assets,
net
|
|
|
—
|
|
|
(0.4)
|
Other income,
net
|
|
|
1.2
|
|
|
8.7
|
(Loss) income from
operations before provision for income tax
|
|
|
(50.6)
|
|
|
5.5
|
Income tax
benefit
|
|
|
12.6
|
|
|
0.2
|
Net (loss)
income
|
|
$
|
(38.0)
|
|
$
|
5.7
|
|
|
|
|
|
|
|
Basic and diluted
(loss) earnings per common share
|
|
|
|
|
|
|
Basic
|
|
$
|
(0.46)
|
|
$
|
0.07
|
Diluted
|
|
$
|
(0.46)
|
|
$
|
0.07
|
Weighted-average common
shares outstanding
|
|
|
|
|
|
|
Basic
|
|
|
83,028,769
|
|
|
83,286,934
|
Diluted
|
|
|
83,028,769
|
|
|
86,422,983
|
WIDEOPENWEST, INC.
AND SUBSIDIARIES
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
|
March 31,
|
|
|
2023
|
|
2022
|
|
|
(in
millions)
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
Net (loss)
income
|
|
$
|
(38.0)
|
|
$
|
5.7
|
Adjustments to
reconcile net (loss) income to net cash provided by operating
activities:
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
|
45.5
|
|
|
44.4
|
Deferred income
taxes
|
|
|
(14.5)
|
|
|
(2.0)
|
Provision for doubtful
accounts
|
|
|
2.6
|
|
|
0.4
|
Loss on sale of
assets, net
|
|
|
—
|
|
|
0.4
|
Amortization of debt
issuance costs and discount
|
|
|
0.4
|
|
|
0.4
|
Non-cash
compensation
|
|
|
5.4
|
|
|
5.7
|
Other non-cash
items
|
|
|
(0.1)
|
|
|
(0.1)
|
Changes in operating
assets and liabilities:
|
|
|
|
|
|
|
Receivables and other
operating assets
|
|
|
(5.4)
|
|
|
(5.7)
|
Payables and
accruals
|
|
|
36.7
|
|
|
0.2
|
Net cash provided by
operating activities
|
|
$
|
32.6
|
|
$
|
49.4
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
Capital
expenditures
|
|
$
|
(60.2)
|
|
$
|
(42.1)
|
Other investing
activities
|
|
|
0.1
|
|
|
0.5
|
Net cash used in
investing activities
|
|
$
|
(60.1)
|
|
$
|
(41.6)
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
Proceeds from issuance
of long-term debt, net
|
|
$
|
51.0
|
|
$
|
—
|
Payments on long-term
debt and finance lease obligations
|
|
|
(4.9)
|
|
|
(5.0)
|
Purchase of
shares
|
|
|
(28.4)
|
|
|
(5.3)
|
Net cash provided by
(used in) financing activities
|
|
$
|
17.7
|
|
$
|
(10.3)
|
Decrease in cash and
cash equivalents
|
|
|
(9.8)
|
|
|
(2.5)
|
Cash and cash
equivalents, beginning of period
|
|
|
31.0
|
|
|
193.2
|
Cash and cash
equivalents, end of period
|
|
$
|
21.2
|
|
$
|
190.7
|
Supplemental
disclosures of cash flow information:
|
|
|
|
|
|
|
Cash paid during the
periods for interest
|
|
$
|
14.5
|
|
$
|
2.8
|
Cash paid during the
periods for income taxes
|
|
$
|
—
|
|
$
|
—
|
Cash received during
the periods for refunds of income taxes
|
|
$
|
4.3
|
|
$
|
—
|
Non-cash operating
activities:
|
|
|
|
|
|
|
Operating lease
additions
|
|
$
|
0.8
|
|
$
|
—
|
Non-cash financing
activities:
|
|
|
|
|
|
|
Finance lease
additions
|
|
$
|
1.9
|
|
$
|
3.5
|
Capital expenditures
within accounts payable and accruals
|
|
$
|
32.2
|
|
$
|
20.3
|
About WOW!
WOW! is one of the nation's leading
broadband providers, with an efficient, high-performing network
that passes 1.9 million residential, business and wholesale
consumers. WOW! provides services in 15 markets, primarily in the
Midwest and Southeast, including Michigan, Alabama, Tennessee, South
Carolina, Florida and
Georgia. With an expansive
portfolio of advanced services, including high-speed Internet
services, cable TV, phone, business data, voice, and cloud
services, the company is dedicated to providing outstanding service
at affordable prices. WOW! also serves as a leader in exceptional
human resources practices, having been recognized nine times
by the National Association for Business Resources as a Best &
Brightest Company to Work For, winning the award for the last five
consecutive years. Visit www.wowway.com for more
information.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements in this press release that are
not historical facts contain "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements represent
our goals, beliefs, plans and expectations about our prospects for
the future and other future events. Forward-looking statements
include all statements that are not historical fact and can be
identified by terms such as "may," "intend," "might," "will,"
"should," "could," "would," "anticipate," "expect," "believe,"
"estimate," "plan," "project," "predict," "potential," or the
negative of these terms. Although these forward-looking statements
reflect our good-faith belief and reasonable judgment based on
current information, these statements are qualified by important
factors, many of which are beyond our control that could cause our
actual results to differ materially from those in the
forward-looking statements. These factors and other risks that
could cause our actual results to differ materially are set forth
in the section entitled "Risk Factors" in our Annual Report filed
on Form 10-K with the Securities and Exchange Commission ("SEC")
and other reports subsequently filed with the SEC. Given these
uncertainties, you should not place undue reliance on any such
forward-looking statements. The forward-looking statements included
in this report are made as of the date hereof or the date specified
herein, based on information available to us as of such date.
Except as required by law, we assume no obligation to update these
forward-looking statements, even if new information becomes
available in the future.
Non-GAAP Financial Measures
The Company has included
certain non-GAAP financial measures in this release, including
Adjusted EBITDA and Adjusted EBITDA margin. These terms, as defined
herein, are not intended to be considered in isolation, as a
substitute for, or superior to, the financial information prepared
and presented in accordance with generally accepted accounting
principles in the United States of
America ("GAAP"). These terms may vary from the use of
similar terms by other companies in our industry due to different
methods of calculation and therefore are not necessarily
comparable.
We believe that these non-GAAP measures enhance an investor's
understanding of our financial performance. We believe that these
non-GAAP measures are useful financial metrics to assess our
operating performance from period to period by excluding certain
items that we believe are not representative of our core business.
We believe that these non-GAAP measures provide investors with
useful information for assessing the comparability between periods
of our ability to generate cash from operations sufficient to pay
taxes, to service debt and to undertake Capital Expenditures. We
use these non-GAAP measures for business planning purposes and in
measuring our performance relative to that of our competitors. We
believe these non-GAAP measures are measures commonly used by
investors to evaluate our performance and that of our
competitors.
Adjusted EBITDA eliminates the impact of expenses that do not
relate to overall business performance and is defined by WOW! as
net income (loss) before interest expense, income taxes,
depreciation and amortization (including impairments), impairment
losses on intangibles and goodwill, write-off of any asset, loss on
early extinguishment of debt, integration and restructuring
expenses and all non–cash charges and expenses (including stock
compensation expense) and certain other income and expenses.
Adjusted EBITDA should not be considered as an alternative to net
income (loss), operating income or any other performance measures
derived in accordance with GAAP as measures of operating
performance, operating cash flows or liquidity.
Refer to "Reconciliations of GAAP Measures to Non-GAAP
Measures" and the accompanying tables below for a
reconciliation of Adjusted EBITDA to Net Income and Adjusted EBITDA
margin to Net Profit margin which are the most directly comparable
corresponding GAAP financial measures.
Subscriber Information
The Company uses the terms
defined below throughout this release.
Homes passed are reported as the number of serviceable
addresses, such as single residence homes, apartments and
condominium units, and businesses passed by our broadband network
and listed in our database.
We deliver multiple services to our customers, as such we report
Total Subscribers as the number of Subscribers who receive at least
one of our HSD, Video or Telephony services, without regard to
which or how many services they subscribe. We define each of the
individual HSD Subscribers, Video Subscribers and Telephony
Subscribers as a Revenue Generating Unit ("RGU").
While we take appropriate steps to ensure subscriber information
is presented on a consistent and accurate basis at any given
balance sheet date, we periodically review our policies in light of
the variability we may encounter across our different markets due
to the nature and pricing of products and services and billing
systems. Accordingly, we may from time to time make appropriate
adjustments to our subscriber information based on such
reviews.
WIDEOPENWEST, INC.
AND SUBSIDIARIES
|
Reconciliations of
GAAP Measures to Non-GAAP Measures
|
(unaudited)
|
|
The following table
provides a reconciliation of Adjusted EBITDA to Net (Loss) Income
for the periods presented:
|
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
|
March 31,
|
|
|
2023
|
|
2022
|
|
|
(in millions)
|
Net (Loss)
income
|
|
$
|
(38.0)
|
|
$
|
5.7
|
Net Profit
Margin
|
|
|
(22.1) %
|
|
|
3.3 %
|
|
|
|
|
|
|
|
Plus: Depreciation and
amortization
|
|
|
45.5
|
|
|
44.4
|
Interest
expense
|
|
|
14.9
|
|
|
7.4
|
Loss on sale of assets,
net
|
|
|
—
|
|
|
0.4
|
Non-recurring
professional fees, M&A integration and restructuring
expense
|
|
|
5.8
|
|
|
11.7
|
Patent litigation
settlement
|
|
|
45.4
|
|
|
—
|
Non-cash stock
compensation
|
|
|
5.4
|
|
|
5.7
|
Other income,
net
|
|
|
(1.2)
|
|
|
(8.7)
|
Income tax
benefit
|
|
|
(12.6)
|
|
|
(0.2)
|
Adjusted
EBITDA
|
|
$
|
65.2
|
|
$
|
66.4
|
Adjusted EBITDA
Margin
|
|
|
37.9 %
|
|
|
38.0 %
|
WIDEOPENWEST, INC.
AND SUBSIDIARIES
|
Capital Expenditures
and Subscriber Information
|
(unaudited)
|
|
The following table
provides additional information regarding our Capital Expenditures
for the periods presented:
|
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
|
March 31,
|
|
|
2023
|
|
2022
|
|
|
(in millions)
|
Scalable
infrastructure
|
|
$
|
17.9
|
|
$
|
10.7
|
Customer premise
equipment
|
|
|
16.2
|
|
|
19.0
|
Line
extensions
|
|
|
16.0
|
|
|
4.5
|
Support capital and
other
|
|
|
10.1
|
|
|
7.9
|
Total
|
|
$
|
60.2
|
|
$
|
42.1
|
Capital expenditures
included in total related to:
|
|
|
|
|
|
|
Greenfields
|
|
$
|
20.2
|
|
$
|
0.5
|
Edge-outs
|
|
$
|
4.2
|
|
$
|
1.1
|
Business
services
|
|
$
|
3.9
|
|
$
|
3.2
|
The following table
provides an unaudited summary of our continuing operations
subscriber information:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March
31,
|
|
June
30,
|
|
September
30,
|
|
December
31,
|
|
March
31,
|
|
|
2022
|
|
2022
|
|
2022
|
|
2022
|
|
2023
|
Homes Passed
|
|
1,886,000
|
|
1,886,000
|
|
1,886,000
|
|
1,886,000
|
|
1,885,700
|
Total
Subscribers
|
|
534,700
|
|
536,600
|
|
538,100
|
|
530,600
|
|
527,300
|
HSD RGUs
|
|
515,000
|
|
517,200
|
|
518,600
|
|
511,600
|
|
508,700
|
Video RGUs
|
|
142,000
|
|
135,500
|
|
129,900
|
|
123,200
|
|
117,100
|
Telephony
RGUs
|
|
97,300
|
|
95,200
|
|
92,900
|
|
89,900
|
|
87,700
|
Total RGUs
|
|
754,300
|
|
747,900
|
|
741,400
|
|
724,700
|
|
713,500
|
Additional Information Available on Website:
The
information in this press release should be read in conjunction
with the financial statements and footnotes contained in the
Company's Quarterly Report on Form 10-Q for the quarter ended
March 31, 2023, which will be posted
on of our investor relations website at ir.wowway.com, when it
is filed with the Securities and Exchange Commission (the
"SEC"). A slide presentation to accompany the conference call
and a trending schedule containing historical customer and
financial data will also be available on our website.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/wow-reports-first-quarter-2023-results-301815388.html
SOURCE WideOpenWest, Inc.