The following is a summary of the WideOpenWest, Inc. (WOW) Q1 2024 Earnings Call Transcript:

Financial Performance:

• WideOpenWest reported Q1 revenue from high-speed data of $106.2 million, up 1% year-over-year.

• Adjusted EBITDA saw a 3.4% increase year-over-year standing at $67.4 million, with an adjusted EBITDA margin of 41.07%.

• HSD Average Revenue Per User saw an increment of over 5% compared to last year.

• A decline of 6.2% was recorded in total revenue due to a significant drop of 24.5% and 9.1% in video and telephony revenue respectively.

Business Progress:

• The company achieved progress in greenfield markets with 15,100 additional new homes, totaling homes passed to 45,500.

• Penetration rates increased to 12.5% in the greenfield markets.

• Edge-Outs showed a positive trend with a penetration rate of 32% in 2024 vintage, and solid performance in 2023 and 2022 vintages, with rates of 27% and 31% respectively.

• Despite a net loss of 400 HSD subscribers, the performance indicates improvement from the previous quarter.

• The company has achieved $29.9 million in savings toward their cost structure alignment target of $35.5 million by 2025.

• The company plans to maintain investments in growth, setting their greenfield expansion budget at a maximum of $60 million this year.

More details: WideOpenWest IR

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