Wideopenwest ( (WOW) ) has released its Q4 earnings. Here is a breakdown of the information Wideopenwest presented to its investors.
WideOpenWest, Inc. (WOW!) is a leading broadband provider in the United States, offering high-speed internet, cable TV, and phone services across 18 markets, primarily in the Midwest and Southeast regions. Known for its efficient and high-performing network, WOW! serves nearly 2 million residential, business, and wholesale consumers.
In its latest earnings report, WideOpenWest announced a decrease in total revenue for both the fourth quarter and the full year of 2024, compared to the previous year. Despite this, the company reported an increase in Adjusted EBITDA, reflecting strong cost management and strategic market expansions, particularly in Greenfield markets where penetration rates improved.
Key financial highlights for 2024 include a total revenue of $630.9 million, down 8.1% from 2023, and a net loss of $58.8 million for the year. However, Adjusted EBITDA increased by 4.7% to $288.4 million, indicating improved operational efficiencies. The company also expanded its market reach by passing an additional 31,500 homes in Greenfield markets, achieving a penetration rate of 16.6%.
WOW! faced challenges such as a reduction in Video and HSD RGUs, partly due to hurricanes, but managed to offset some losses with increased average revenue per unit and strategic pricing adjustments. The company also entered into a new Priority Credit Agreement to refinance its debt and support future growth initiatives.
Looking ahead, WOW! remains focused on expanding its fiber network and optimizing its service offerings. The management is optimistic about continuing its growth trajectory in new markets and maintaining strong financial discipline to enhance shareholder value.