WIDEOPENWEST, INC. Trending Schedule
Second Quarter 2023
WideOpenWest, Inc.
Customer Metrics Including Dispositions(a)
(operating statistics in thousands)
2021 | 2022 | 2023 | ||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | |
Homes Passed (EoP)1 | 1,873.9 | 1,877.3 | 1,880.9 | 1,882.1 | 1,882.1 | 1,886.0 | 1,886.0 | 1,886.0 | 1,886.0 | 1,886.0 | 1,885.7 | 1,892.6 |
Total Subscribers (EoP)2 | 528.0 | 530.5 | 531.6 | 532.9 | 532.9 | 534.7 | 536.6 | 538.1 | 530.6 | 530.6 | 527.3 | 522.4 |
Net Subscriber Additions / (Losses) | 5.1 | 2.5 | 1.1 | 1.3 | 10.0 | 1.8 | 1.9 | 1.5 | (7.5) | (2.3) | (3.3) | (4.9) |
Subscriber Penetration (%)3 | 28.2% | 28.3% | 28.3% | 28.3% | 28.3% | 28.4% | 28.5% | 28.5% | 28.1% | 28.1% | 28.0% | 27.6% |
RGUs (EoP)4 | ||||||||||||
HSD | 504.9 | 507.9 | 509.5 | 511.7 | 511.7 | 515.0 | 517.2 | 518.6 | 511.6 | 511.6 | 508.7 | 507.8 |
Video | 178.8 | 169.3 | 158.6 | 150.6 | 150.6 | 142.0 | 135.5 | 129.9 | 123.2 | 123.2 | 117.1 | 110.0 |
Telephony | 108.0 | 105.6 | 102.4 | 100.0 | 100.0 | 97.3 | 95.2 | 92.9 | 89.9 | 89.9 | 87.7 | 85.3 |
Total RGUs | 791.7 | 782.8 | 770.5 | 762.3 | 762.3 | 754.3 | 747.9 | 741.4 | 724.7 | 724.7 | 713.5 | 703.1 |
Net Additions / (Losses) | ||||||||||||
HSD | 6.1 | 3.0 | 1.6 | 2.2 | 12.9 | 3.3 | 2.2 | 1.4 | (7.0) | (0.1) | (2.9) | (0.9) |
Video | (10.6) | (9.5) | (10.7) | (8.0) | (38.8) | (8.6) | (6.5) | (5.6) | (6.7) | (27.4) | (6.1) | (7.1) |
Telephony | (2.4) | (2.4) | (3.2) | (2.4) | (10.4) | (2.7) | (2.1) | (2.3) | (3.0) | (10.1) | (2.2) | (2.4) |
Total Net Additions / (Losses) | (6.9) | (8.9) | (12.3) | (8.2) | (36.3) | (8.0) | (6.4) | (6.5) | (16.7) | (37.6) | (11.2) | (10.4) |
Penetration (%)3 | ||||||||||||
HSD | 26.9% | 27.1% | 27.1% | 27.2% | 27.2% | 27.3% | 27.4% | 27.5% | 27.1% | 27.1% | 27.0% | 26.8% |
Video | 9.5% | 9.0% | 8.4% | 8.0% | 8.0% | 7.5% | 7.2% | 6.9% | 6.5% | 6.5% | 6.2% | 5.8% |
Telephony | 5.8% | 5.6% | 5.4% | 5.3% | 5.3% | 5.2% | 5.0% | 4.9% | 4.8% | 4.8% | 4.7% | 4.5% |
Notes:
(a) All figures give effect to the disposition of five service areas in the second half of 2021.
Page 1
WideOpenWest, Inc.
Revenue and Adjusted and Transaction Adjusted EBITDA Post Asset Sale (a)
($ | in millions) | |||||||||||||||||||||||
2021 | 2022 | 2023 | ||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | |||||||||||||
Revenue | ||||||||||||||||||||||||
HSD Subscription | $ | 96.6 | $ | 98.7 | $ | 103.3 | $ | 100.5 | $ | 399.1 | $ | 100.1 | $ | 102.6 | $ | 102.3 | $ | 107.1 | $ | 412.1 | $ | 105.2 | $ | 106.7 |
Video Subscription | 56.4 | 55.3 | 52.8 | 51.0 | 215.5 | 48.6 | 47.7 | 45.3 | 43.6 | 185.2 | 42.1 | 41.6 | ||||||||||||
Telephony Subscription | 15.0 | 14.6 | 14.2 | 13.6 | 57.4 | 13.3 | 12.9 | 12.8 | 12.4 | 51.4 | 12.1 | 12.1 | ||||||||||||
Total Subscription | $ | 168.0 | $ | 168.6 | $ | 170.3 | $ | 165.1 | $ | 672.0 | $ | 162.0 | $ | 163.2 | $ | 160.4 | $ | 163.1 | $ | 648.7 | $ | 159.4 | $ | 160.4 |
Other Business Services | 5.6 | 5.7 | 5.6 | 5.4 | 22.3 | 5.3 | 5.4 | 5.4 | 5.1 | 21.2 | 5.2 | 5.1 | ||||||||||||
Other Revenue5 | 7.9 | 7.6 | 8.1 | 7.8 | 31.4 | 7.3 | 7.5 | 7.9 | 12.3 | 35.0 | 7.6 | 7.1 | ||||||||||||
Total | $ | 181.5 | $ | 181.9 | $ | 184.0 | $ | 178.3 | $ | 725.7 | $ | 174.6 | $ | 176.1 | $ | 173.7 | $ | 180.5 | $ | 704.9 | $ | 172.2 | $ | 172.6 |
Subscription Revenue Subtotal | ||||||||||||||||||||||||
Residential Subscription | $ | 140.7 | $ | 141.3 | $ | 142.6 | $ | 137.0 | $ | 561.6 | $ | 134.3 | $ | 135.4 | $ | 132.7 | $ | 135.3 | $ | 537.7 | $ | 131.6 | $ | 132.2 |
Business Services Subscription | 27.3 | 27.3 | 27.7 | 28.1 | 110.4 | 27.7 | 27.8 | 27.7 | 27.8 | 111.0 | 27.8 | 28.2 | ||||||||||||
Total Subscription Revenue | $ | 168.0 | $ | 168.6 | $ | 170.3 | $ | 165.1 | $ | 672.0 | $ | 162.0 | $ | 163.2 | $ | 160.4 | $ | 163.1 | $ | 648.7 | $ | 159.4 | $ | 160.4 |
Adjusted EBITDA (b) | ||||||||||||||||||||||||
Adjusted EBITDA 6 | N/M | N/M | N/M | N/M | N/M | $ | 66.4 | $ | 70.6 | $ | 68.5 | $ | 74.6 | $ | 280.1 | $ | 65.2 | $ | 68.1 | |||||
Adjusted EBITDA Margin 14 | N/M | N/M | N/M | N/M | N/M | 38.0% | 40.1% | 39.4% | 41.3% | 39.7% | 37.8% | 39.5% | ||||||||||||
Adjusted EBITDA Post Asset Sale | ||||||||||||||||||||||||
Adjusted EBITDA Post Asset Sale6 | $ | 61.6 | $ | 64.3 | $ | 66.7 | $ | 69.0 | $ | 261.6 | $ | 66.4 | $ | 70.6 | $ | 68.5 | $ | 74.6 | $ | 280.1 | $ | 65.2 | $ | 68.1 |
Adjusted EBITDA Margin Post Asset Sale14 | 33.9% | 35.3% | 36.3% | 38.7% | 36.0% | 38.0% | 40.1% | 39.4% | 41.3% | 39.7% | 37.8% | 39.5% | ||||||||||||
Transaction Adjusted EBITDA Post Asset Sale | ||||||||||||||||||||||||
Transaction Adjusted EBITDA Post Asset Sale | $ | 70.5 | $ | 73.2 | $ | 73.9 | $ | 74.1 | $ | 291.7 | $ | 70.1 | $ | 74.1 | $ | 72.0 | $ | 78.1 | $ | 294.3 | $ | 68.2 | $ | 70.0 |
Transaction Adjusted EBITDA Margin Post Asset Sale | 38.8% | 40.2% | 40.2% | 41.6% | 40.2% | 40.1% | 42.1% | 41.5% | 43.3% | 41.8% | 39.6% | 40.6% | ||||||||||||
Notes:
- All figures give effect to the disposition of five service areas in the second half of 2021.
- For the purposes of the Trending Schedule, the 2021 Adjusted EBITDA and Adjusted EBITDA Margin are not considered meaningful for comparative purposes because the 2021 EBITDA metrics include the results of disposed assets while the revenue metrics do not.
Page 2
WideOpenWest, Inc.
Market Expansion(a)(b) (operating statistics in thousands)
2021 | 2022 | 2023 | ||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | |
Home Passed (EoP)1 | 76.5 | 77.4 | 78.0 | 78.2 | 78.2 | 78.6 | 78.9 | 79.1 | 81.1 | 81.1 | 85.6 | 92.8 |
Total Subscribers (EoP)2 | 18.4 | 18.6 | 19.0 | 19.3 | 19.3 | 19.5 | 19.7 | 19.8 | 20.3 | 20.3 | 21.2 | 23.2 |
RGUs (EoP)4 | ||||||||||||
HSD | 18.3 | 18.5 | 18.9 | 19.2 | 19.2 | 19.4 | 19.6 | 19.7 | 20.2 | 20.2 | 21.1 | 22.9 |
Video | 7.1 | 6.9 | 6.9 | 6.9 | 6.9 | 6.9 | 6.9 | 6.9 | 6.9 | 6.9 | 6.9 | 7.0 |
Telephony | 2.9 | 2.8 | 2.8 | 2.8 | 2.8 | 2.8 | 2.8 | 2.8 | 2.9 | 2.9 | 2.9 | 3.1 |
Total RGUs | 28.3 | 28.2 | 28.6 | 28.9 | 28.9 | 29.1 | 29.3 | 29.4 | 30.0 | 30.0 | 30.9 | 33.0 |
2021 Vintage | ||||||||||||
Home Passed (EoP) | 0.4 | 1.3 | 1.9 | 2.0 | 2.0 | 2.0 | 2.0 | 2.0 | 2.0 | 2.0 | 2.0 | 2.0 |
Total Subscribers (EoP) | 0.1 | 0.2 | 0.4 | 0.6 | 0.6 | 0.7 | 0.8 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 |
Total Penetration | 25.0% | 15.4% | 21.1% | 30.0% | 30.0% | 35.0% | 40.0% | 45.0% | 45.0% | 45.0% | 45.0% | 45.0% |
Average Days Active | 48 | 60 | 108 | 188 | 188 | 291 | 381 | 460 | 552 | 552 | 642 | 749 |
2022 Vintage | ||||||||||||
Home Passed (EoP) | 0.4 | 0.7 | 0.9 | 2.9 | 2.9 | 2.9 | 2.9 | |||||
Total Subscribers (EoP) | ‐ | 0.1 | 0.1 | 0.6 | 0.6 | 0.8 | 0.9 | |||||
Total Penetration | 0.0% | 14.3% | 11.1% | 20.7% | 20.7% | 27.6% | 31.0% | |||||
Average Days Active | 52 | 100 | 153 | 135 | 135 | 225 | 332 | |||||
2023 Vintage | ||||||||||||
EDGE OUTS | ||||||||||||
Home Passed (EoP) | 2.8 | 7.7 | ||||||||||
Total Subscribers (EoP) | 0.3 | 1.8 | ||||||||||
Total Penetration | 10.7% | 23.4% | ||||||||||
Average Days Active | 31 | 74 | ||||||||||
GREENFIELD | ||||||||||||
Home Passed (EoP) | 1.7 | 4.0 | ||||||||||
Total Subscribers (EoP) | 0.4 | 0.8 | ||||||||||
Total Penetration | 23.5% | 20.0% | ||||||||||
Average Days Active | 42 | 63 |
Notes:
- All figures give effect to the disposition of five service areas in the second half of 2021.
- Customer metrics attributable to Edge Out expansion projects are a subset of overall customer metrics presented on page 1.
Page 3
WideOpenWest, Inc.
Capital Expenditures(a)
($ in millions)
2021 | 2022 | 2023 | ||||||||||||||||||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | |||||||||||||
Capital Expenditures: Components | ||||||||||||||||||||||||
Customer Premise Equipment (CPE)7 | $ | 20.0 | $ | 16.5 | $ | 18.7 | $ | 12.9 | $ | 68.1 | $ | 19.0 | $ | 14.6 | $ | 14.5 | $ | 16.5 | $ | 64.6 | $ | 16.2 | $ | 15.8 |
Scalable Infrastructure8 | 11.4 | 11.2 | 7.7 | 10.0 | 40.3 | 10.7 | 7.4 | 5.7 | 15.6 | 39.4 | 17.9 | 11.7 | ||||||||||||
Line Extensions9 | 3.7 | 3.7 | 4.1 | 2.1 | 13.6 | 4.5 | 5.7 | 6.5 | 10.1 | 26.8 | 16.0 | 22.7 | ||||||||||||
Support Capital and Other10 | 8.9 | 10.1 | 10.2 | 11.1 | 40.3 | 7.9 | 7.0 | 11.0 | 10.5 | 36.4 | 10.1 | 13.4 | ||||||||||||
Total Capital Expenditures | $ | 44.0 | $ | 41.5 | $ | 40.7 | $ | 36.1 | $ | 162.3 | $ | 42.1 | $ | 34.7 | $ | 37.7 | $ | 52.7 | $ | 167.2 | $ | 60.2 | $ | 63.6 |
Expansion Capital Expenditures included in Total related to: | ||||||||||||||||||||||||
Edge‐Outs11 | $ | 0.8 | $ | 1.0 | $ | 1.4 | $ | 1.3 | $ | 4.5 | $ | 1.1 | $ | 0.8 | $ | 1.5 | $ | 1.3 | $ | 4.7 | $ | 4.2 | $ | 3.7 |
Business Services12 | 3.9 | 3.6 | 3.3 | 3.0 | 13.8 | 3.2 | 2.6 | 3.3 | 2.5 | 11.6 | 3.9 | 3.7 | ||||||||||||
Greenfields13 | ‐ | ‐ | ‐ | ‐ | ‐ | 0.5 | 4.5 | 5.8 | 10.7 | 21.5 | 20.2 | 23.0 | ||||||||||||
Expansion Capital Expenditures included in Total | $ | 4.7 | $ | 4.6 | $ | 4.7 | $ | 4.3 | $ | 18.3 | $ | 4.8 | $ | 7.9 | $ | 10.6 | $ | 14.5 | $ | 37.8 | $ | 28.3 | $ | 30.4 |
Notes:
(a) All figures give effect to the disposition of five service areas in the second half of 2021.
Page 4
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
WideOpenWest Inc. published this content on 05 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2023 13:30:42 UTC.
