WOW - Earnings call transcript Q3 2021

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Operator

00:05 Good morning. My name is Julie and I will be your conference operator today. At this time, I would like to welcome everyone to the WideOpenWest Third Quarter twenty twenty one Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. you. Thank Instructions] [Operator you your Posen, may Andrew conference. begin XX:XX

Andrew Posen

expected Teresa everyone, you quarter and for implied Thank today twenty you. subject the us service John other thank morning, Good harbor actual is me federal Financial the With third on XX:XX will recently I'd to Rego, laws are matters joining announced results, statements cause materially June forward-looking provisions those about transactions WOW's These may Executive and uncertainties expected operating that known XX:XX our securities Officer. and or and to risks, performance for earnings started, remind on position or that one, some like unknown Before XX:XX we our the during call. business. twenty to made safe five make everyone WOW's factors from Chief Elder, business related effects strategy, are Chief to one be areas and forward-looking Officer; of sell the our to closed that thirty, other get our and we of twenty call, we our in operating statements different twenty forward-looking financial reliance statements. results, our in expressed our

to statements. You such forward-looking reliance such forward-looking obligation not undue are statements. cautioned any on place update XX:XX We to disclaim

K results measures. please in to filings that release. from statements filed release, ten including we factors forward-looking issued concerning our the XX:XX information section this Risk refer SEC, non-GAAP on of materially that as today's with could cause In affect the as well and financial differ additional section certain of to SEC, the our our actual results may forward-looking morning, we For press refer the financial statements, our our call press note with addition, to please Form Factors or the

of this the the information XX:XX results company to intended financial information or information be these presented for provide can XX:XX isolation metrics with is GAAP earnings which over considered for on our and be presentation our financial non-GAAP be accordance useful schedules, measures releases historical substitute believes Executive found I'll our in GAAP. found not in the While our investors, a to and between can Reconciliations turn the as trending Officer, website. non-GAAP Elder. in Chief Now, WOW!'s Teresa call for reported

Teresa Elder

XX:XX Welcome call. Thanks, quarter Andrew. WOW!'s to third earnings

five XX:XX six and billion, in results driven have sold. divested. have and the release four them press forma excludes that enable strong greenfield to prepared both the WOW!, to point complement Relations financial we accompanying Combined, transactions and year, this our presentation announced proforma trending us and by also better were revenues, as grew was investments Chicago, included This you understand third the metrics in quarter. the over the total presentation the same a period on pleased XX:XX funded growth third one. million, point in the areas by adjusted year week, available of schedule same six help hundred pro the revenue. first the five eighty Telephony basis significantly debt year Last compared period WOW!. generated our to fifteen page areas we strengthen Evansville, are decline yield in offset one point EBITDA the for continues percent broadband performance, To billion point to Anne free recently view, sale growth September Broadband. cash historical our year, significant quarter XX:XX during by XX:XX positive sale are in business. Broadband, sixty to to adjusted make million used flow revenues call addition revenues high Our website, This on exclude quarter, and our service gross generated and our last areas to proceeds our remarks. our reduce three In which data evidenced our trending driven our quarter, In speed we by two increased Investor to strategy of service by Atlantic one schedule a with another a we quarterly percent Pro third Video on hundred closed million. follows proforma which by and on a that approximately three on our for our up of have Ohio data also Arundel last by one to quickly the results referenced in how better high-speed service performance quarter compared our the Service completion the to we Furthermore, to growth to compare and these markets which by of eight the slightly the were closed. one the results areas position, which forma sale Astound to really of and seven largely reflect partially We

thirty shown both the was Third year demonstrating improvements the report categories slide, adjusted strength this business. our pro continue and on quarter, point forma over We sequential EBITDA of core three six to XX:XX year broadband all across margin percent.

levels During increased quarter, the HSD total RGUs and RGUs remained we hundred during subscribers hundred speed number the during saw added quarter. five of slower we bringing thousand. number total XX:XX we of subscriber data churn third the and quarter, nine of Although HSD high our over the to our low, sixteen growth

provide area position sheet, invest will customers, We growth in divestitures, detail our two. strategy, of the completion greater balance first reacceleration Now these in very the service aggressively we consistently XX:XX strength broadband are ability initiatives customer customers, across price. competitive which have service expect differentiators deliver at our of our at service, that and on by for the Investor of to following our and our result our our in we twenty our key recognized which gig in more enhanced competing will a HSD strong we exceptional are reliability of a a twenty speeds deliver XX:XX which to subscriber Day is Our can specifically in December. lastly, network, our broadband When one footprint.

our indicator churn, twenty XX:XX one, our value All WOW!’s eighty quarter. Not broadband our see of demonstrates customers are eighty data. this continued possible demand which new data We becoming customers broadband sell-in only speed our XX:XX reflecting percent rate speeds of the because strategy’s of customers maintained seven in new of seven great third two as quarter, the for success. When of our only seventy and seven twenty required we customers these the are the a of service. passionate people. high higher the XX:XX fifth increased purchasing talented of low consecutive hundred service another higher, approximately with have for sixty is to HSD but percent more HSD In coupled purchased quarter of meg third ARPU speeds. important, view in

during two previously included revenue revenue. the a million, HSD point nine Our period deferred

increase ARPU increasingly growth positive in both from Excluding to RGUs nineteen for by vintages Edge-Out quarter. data eight XX:XX higher Edge-Out five passed rates. be and an would Our speeds. the that twenty our also sixty homes and customers predominantly HSD deliver increased percent penetration driven last the purchasing year, strategy twenty Penetration revenue, same twenty period eighty, continues this and

point twenty trends expects With the in the twenty vintages continuing We twenty continue. nineteen the and to And twenty six percent up those six eight second to vintages are eighteen eight point of the incremental percent, second improvements acceleration point percent, point quarter. quarter. to from see percent increasing in seventeen and to from up seventeen Edge-Out XX:XX increasing

of on especially first the twenty our about our the business December who and go optimistic opportunity speed our divestitures. strategy our of divestiture our our see one a is the markets. in and broadband second in in results excited Now, following continued broadband so XX:XX at pleased of with twenty why one vintage percent Even the twenty driven high homes made progress in vintages core of it we the deliver the new I'm detail. broadband EBITDA, passed. products and growth this about successful on XX:XX fast, execution first and can Investor size, to I'll and a growth to You forward customers. business, we've strategy the the existing driving over look update will twenty position year, affordable point of and XX:XX new for strengthening demonstrating giving our indicator conclude, This really at clearly seeing of results percent quarter. I great ability financial top Day one core continued outlook four you rates our have John, our strength of five based and line we by more Edge-Out financial to success reliable one fifteen though relatively call evident twenty to small point to is an increased the data on for and To services is The the strategy turn from over far our ninth. up year the following the sample penetration end are so this our

John Rego

The Note to in as reflect only full transaction As completed schedule GAAP periods includes and mentioned the took first to divested accelerating income. service to a in WOW!. items column XX:XX in forma pleased services for reimbursement associated are strategy. Teresa. reflect Teresa operations for those billion. the towards the are expenses and identifiable that the discontinued Operating areas. quarter, impact Thanks third presentation operations agreements being the have required pro that part accomplished the included of forma we successfully as gross the rules, those our eight service we've pro XX:XX impact a We're broadband a in trending areas numbers disclosed EBITDA last of income approximately new of the but updated we these statement revenue divestitures proceeds in generating basis due are reflect immediately sold. our a exclude of the accounting transactions. expenses operations, prior on one that continuing the continuing out figures with adjusted remain We netted to quarter lot XX:XX in other significant that our are steps point

of also includes definitions the notice two The reported total that reflects earnings first EBITDA. XX:XX the You'll figure. adjusted release

forma accounting quarter has of recognition cost the pro eleven As XX:XX work six the overhead. upgrading the represents size dollars in declines forma begin to we as EBITDA, program. in point and which work estimated time hundred nature existing to revenue HSD definition. Transaction right This to revenue which past third telephony, three adjusted quarter, third we’ll quarter, one-time pro than period point pro also thousand a Our percent to third EBITDA of hundred with though best same an point three update strong. offset four margin video revenue. thirty to in years, a an as very our this percent up same by increase of eight third upon us are Total million, the our I'd all adjusted percent, eight over forward the talking one a quarter quarter of five seeing and we Consistent adjusted IR proceeds ninety revenue more the point the the quarter part let's to Even shows and second which completed we forma Now, to the increased transactions eight the service completed customers high this provide we Fund. driven minutes eighty The of revenue dollars four could percent, approximately two debt and third our improvements last quarter realize higher We one our XX:XX forma the HSD attributed percent hundred to from with the and which four part the November our to year. in forma are speed pro XX:XX seven five talk six EBITDA, the point our forty HSD our generating and forma is contributed The point included twelve of as more year our million the transactions, of period not reduction Connect pro second the tax five transaction Due two capital now the this compared business. In schedule, to to numerous million. debt new six sixty zero on The on business, of website areas. which converge. believe in significantly reduced percent. of percent the savings speed adjusted increased four current adjusted increased few excludes well XX:XX the and percent As the margin pro go the Each we year, available structure, and of high EBITDA contribution adjusted data increase in total ongoing ahead results. adjusted the realize incrementally about corporate that reduce Pro point six up expect to reflects two last hundred with adjusted XX:XX from gross The improves to On as spend in opportunities one progress. the sixty includes continues EBITDA date from EBITDA to adjusted million have growth by six and forma the percent upgrade. operate by adjusted seven while the debt, will four than in in balance we divested also reflecting point trending pro thirteen rules revenue in thirty as ninety in data revenue two EBITDA a our grew business EBITDA about last see nine next fifteen Now, point second third sixteen revenues margin period recognize same in the one, and million, Alabama two point quarter of third our us. over the point HSD XX:XX creating the dollars a billion basis to growth million business quarterly hundred like to network the XX:XX sheet. slide, revenue increased as completion incremental as is robust third on the a in It year. of speed new approximately thirty XX:XX Dothan during will point the outperformance five of we a to result enable forma was percent a decreased from to significantly last six addition America two with in margin. due results EBITDA, divestitures. well sixty leverage seventy that one you percent our the of also percent ninety transaction. efficiency customers ratio, million tiers. respectively. six GAAP increased revenue to only one in and

a us decreased year, than We'll little call six network public increased to period time the ended in will logistics nine as two grow closing, forma eight quarter Day. spending the cash sequentially upward of Edge-out history strong All provide XX:XX average CapEx six our quarter, building our than free million flow. flow allocation, thousand, layout Day, first Investor the due profitable which agenda more on up million delivering plan we point by nine on open turns in XX:XX strategy of plans and like thoughts executing meeting leverage same was a with talk the seven our of our in million, regarding times, to from fifty nine. broadband taking now, open bit we'd to On including Investor on free before the details and at but we existing strategy, third we our XX:XX I'd At hundred For December XX:XX results, And momentum, an two update third the a the line a on five our well last will Finally, to as thirty coming spend. We timing growth for the make and path footprint. reflecting point point be first about WOW!’s expectations primarily company. eye the historical as strict CapEx our our business third point over out our to hosting of we to weeks. greenfield questions, below total on ratio questions. forward, steps expansion, XX:XX the on with good basis, investments the and promising trajectory. continue cash to the progress generation at keep pro quarter. and generation commercial by like In our more our we send and upcoming regarding further in the cash We'll capital our within for make

Operator

first XX:XX from Thank Stephens. go question Kyle Your you. Please Evans ahead. Instructions] comes from [Operator

Kyle Evans

sales? XX:XX Good possible Looks profile. congrats economies John, morning reverse I Could lower wonder forward? good just you the if there's else that's company out you of got scale overhead operating maybe service follow-up. going mentioned on and I’ve going Then a a on on being Hi, anything that start smaller about you. you any tougher the with thanks. leverage we new were going forward,

John Rego

Yeah. XX:XX

we about first the announced we when So, talked that question.

have we organizational dollars we thirty out million corporate a highly to structure of the probably centralized about get very business. there’s here, five we So, so a that need overhead in identified

all about XX:XX out, see EBITDA, back believe of two little report so We of to of out twenty third a bit by within think two. could complex. we're three you it's force, will some years easier years real the we way be fully be of think quarter. we're out that's to easy definitions the about reductions we'll more be these we And in every done. a of twenty through where to harder three it getting there will XX:XX some window Some we’ll things estate it’s get of but tracking, Kyle, out getting it get giving contracts, of software and we take are will be – let of contracts, Some going things

my right now. I with expectation think

Kyle Evans

It until sounded like about the you Great. XX:XX didn't to want CapEx Day. Analyst talk

So, two where in could the high upwards I'll and Thanks. uptake, hundred only take eighty how further? range both HSD the want the move that those you and are a meg in which is them, you go numbers percent turn those

Teresa Elder

XX:XX and go I'll ahead Kyle, Yeah. address that. Thanks,

of itself is we're And example, very focusing to that first, broadband the are product video than to since of a with in a takes out progress lot different think on really the well business that it pleased much we've our service customers I responding made subscribers. higher that. cost for

good that So, programs lift we're continue have and certainly reliability we but positioned that, where up about if advantage we feeling take the customers will go promotions place, then well and I are about feel network. avail and we strength to And in are themselves, are. numbers our of of good the to higher, they think and

Kyle Evans

XX:XX you. Thank

Operator

Louthan Frank XX:XX Raymond next comes from Your from Please James. ahead. question go

Frank Louthan

of or grow number Great. an the now much we Thank to get passed XX:XX traction Thanks. through or give basis on of annual on there and metrics plant are to us much Edge-out? you and homes going the you us and Can expect business? you're that build how can part you you. a to get some doing What you how can you to on other walk differently reinvest try maybe continue

Teresa Elder

to cohorts with growing we're Thanks on our penetration put Edge-out a lay see, high Great out done most really we and We question pleased you low are have focus plans what advantages. or is, XX:XX really deleveraging the again how but XX:XX on really really I'm has Investor the Frank. and rapidly focused future, recent as can for in on growth. to more and the position Day the in us leverage plan about

we've deleveraging strategies think the the with we're us on for I high recent on the success to the too. MDU we're and allows us excited how of areas vintages in we've So focused I side really have put really a we for in investing future, XX:XX which the future. think the had more faster making with and of that sure growth position for also penetrate ability divestitures the that have right we're number is the been shows focusing things, the

John Rego

Yeah. XX:XX

me Let Frank. jump that on

at dollars through of going go of take of thinking really that cash kind a to I I starting lot hey, a homes we very lot what in here parts one but is, is build base now and I and cord to de-levering [indiscernible] and very, on video means, but this not. debt strategy million break But because XX:XX To think ability CapEx, had or on look now December business, have and our better you a a give opportunities were. what how and different naturally into before, greenfield Day about is get opportunity allocate into that, we continuation we an to coming I de-levering Analyst when think this the The hundred Edge-out if come to two our the now actually happening. to month. situation consider now our and a that we it's on perspective we'll a is ninth, that, cutting year, down out the strategy reason just make CapEx, it choose interest mean, wait down expense we're which you you more and some supports the we than that's capital a we talk was on we'll through we're we'll

to be So, it's less. going significantly

opens a really capital that So the of that's to better lot to the put use, opportunities up plan.

Frank Louthan

is to look you’ll as XX:XX us through All walk great. plan going right, well. sure the what like I'm

on counting program I'll subscribers? do what that, forward? what Are that but you towards if have you last customers under going plan of any for new So, customers currently are your the await them in quick one follow-up, And thoughts just that EBDT base?

Teresa Elder

The that existing broadband the grow to who continued divestitures. footprint with now for Yeah. base financial benefit customers need. has a done in are been our of certainly within emergency we've positive That XX:XX

it fact, In a was percent sixty growth.

on customers the So, EBB we had plan. five quarter about last thousand

they not count customers. customers Now, we're are unless thousand. sitting do We new truly eight those as at new XX:XX about

take that. we vast our to of really helping the of before for program, those eligible said are get existing customers that ability as the if majority they're advantage So,

we predominantly contributors keep existing So, and terminal. that show addition of value our in it's network eight of on service is the the one many thousand to customers reliable continuing to and our

Frank Louthan

that signed, around permanent going to under towards is plan thoughts customer As get that going the evolves any forward? benefit the to marketing infrastructure assume XX:XX that broadband bill base I

Teresa Elder

XX:XX continue definitely customers Yeah, going what how in we at communicate the of and take our with we're bill to to we advantage best that for look those can infrastructure is and customers.

So, stay aware tuned them with that, sign done steps if job trying customers but I and the as the then program a plan of for the well. eligible think all good it get we've they're for to to up helping make through

for our So, it's good been definitely customers.

Frank Louthan

Thank great. Okay, XX:XX you.

Operator

Your question Please Dan from comes ahead. Securities. XX:XX Day go B.Riley from next

Dan Day

you my here. XX:XX questions Appreciate morning Yes. guys. taking Good

shifting the is opportunity expansion thinking most the obviously three this investors in general, Edge-out/greenfield support for next call plan see more do us foreseeable opportunities So, future? of be to years should you weeks, free both that you’ll this eating in the growth just capital as and understanding year the cash returns this detail two, growth a the but about on to provide one, up of business or a and something more expansion stage flow Investor for it Day can couple

Teresa Elder

This level for is a have importantly certainly you'd certainly like to the come to after just else through as existing quite about for plan industry and an it and do we think the on we the relatively plan divestiture, have we company. low fund add? for been for low very more So, John, will we And XX:XX allow you're we're business. position growth at amazing Investor because operations and now the where I in right, capital to to excited are of a us layout anything leverage historically that. we that XX:XX Edge-outs greenfield Day. there keep yes,

John Rego

XX:XX moving sort the company a mean No, that divestitures into of to prior just the cash hasn't continued changed. free generation I flow started

with yes, new flow bit we want to be I generation, WOW!. free In now have want December going allocate fund on if to how far fact, opportunities from are a that our gets we to having be a will lot it whatever ninth along to but follow the that And you our isn't will decisions better cash make network of think to little XX:XX capital. and again We expansions me we and away. real do we'll

fine. going we're think I to be

do long capital. things the is to So, opportunities the winded be the answer with other yes, there'll answer,

Dan Day

XX:XX just Got leverage of ratio the be your then leverage like sort profile. going And terms mean, guys. term, it. that of peers in longer you well as you're Thanks, I right the to bit can with up are even about or maybe thinking longer see below do you you guess, term, willing to debt? incremental leverage cover or a are more flow free from that you, how or three I times something cash if fund

John Rego

XX:XX Yes.

down that's And probably rewarding to infrastructure company. is I so levered times. for infrastructure but six two company, after to smaller be low it honest get too point I it to a you, we're been think mean, So, having with an

point and the choking see turns. was I When business. And point us of is, So, point joined my five three don't six perception five we at five sort it turns when joined, Teresa half about getting at turns. XX:XX were I literally every

So, we want balance keep to a proper there.

opportunities. there's So,

no, so, times don't is eye us. I an take And investment it's towards, opportunities point five probably always think and six point good with look, but for we'll forever, number themselves, think if I a real present a three two for and

Dan Day

XX:XX Yes. Brilliant.

over. Best to forward luck. it Day. the turn I'll of Looking Investor

Operator

KeyBanc Nispel Brandon comes question XX:XX Capital ahead. go Your from Please Markets. next with

Brandon Nispel

Awesome. k, mentioned thinking two to to quarter? in passed? the but of did Last on what what you gotten about questions. quarter? in Should thinking nineteen expectations XX:XX you the point pinch you’ve sort capacity? you. home should like thus talk new home terms expansion Teresa, Two be slow in fourth ten that should capacity? into down, you year, understand added, Thank full about the thousand? have I into passed to the can to back you the point Thanks. Edge-outs, trying fourth think And ramped so market is HSD far be Second, per be we subscriber What of trajectory cost the twenty two new the of terms where we about to

Teresa Elder

Brandon. Thanks, XX:XX

about business What So, environments fundamentals dynamic taking that we really that of and say subscribers is first a question are often the HSD in your pandemic. is than need we're still of seeing are difficult stronger though the the ever. what to to forecast there trajectory, I because still and the just the

look we can to a year, activity that are bit small at than some the some taking start we some churn see of a that pushing our see As good and improve. expansion, that we that look to between last up twenty very these forward we how allocation the place. season, adjacent I'd network; existing do for mentioned, we at we feeling looking going focus into extension think as on So nineteen growth future. And more a still but a and have As be this markets. and of XX:XX I forward but future. will commercial are XX:XX be that XX:XX seeing Edge-outs, some always things and we that we'll still and of that plans momentum And to back an really that’s the little approximate broadband about I new that we have really But plans tell good this what With green as seeing hoped but and the we're to school capacity of XX:XX new about in we quarter, other hadn’t were to as what look had to are business. continue strong quarter, to or emergency ones, deleveraging be move be to kind it's, So, benefit, still the as we'll number though, will to able not customers nine. the clearly, more are see positives have shoots see greenfield, would able new we then low adjacent I rest said for define QX. on very happens. of some I did to I we we I really questions didn't previously. back and market longer which entering in what which and really business when and few a capital in again said existing. we able areas sorry our keep on things we’ll able look share of but and I as we're to come we did has we're to clear think are December things about for what the what are been share reasonable the the transparent to have for And to looking them, the kind you to mostly you transformative

Brandon Nispel

mentioned, could was what like nineteen, twenty quarter away you of additions? terms some I HSD follow-up more fourth the If sort quickly, nineteen you in twenty just the XX:XX net square just could of

Teresa Elder

on XX:XX And we Yeah. I course, was number back really full think that year republish trending the schedule about up. of goes that. did a

year full just we put nineteen on number twenty the for that. in think I

like for fourth we'll it looks So, quarter. see what

Brandon Nispel

XX:XX Fair you. Thank enough.

Teresa Elder

full-year just number over thirteen XX:XX thousand. The was

Operator

XX:XX Levi question Your comes UBS. next go from Please ahead. Batya from

Batya Levi

that talk six a you Couple within the could another to and expect closed? you. bit for many that should looking fiber environment up the thirty [indiscernible], ramping maybe overhead, competitive five any build are us, or the competition And remind corporate you. little is year of we Thank Can you how Great, picking fully beginning about much HSD is the telcos increase deal the loaded left? wireless NOL footprint, up? seeing heard access indication all we’ve XX:XX now if thank since follow-ups, you is million

Teresa Elder

don't then turn first and for second the question. John one the take to Why I XX:XX

Batya. thank you So,

think in hold against in while and terms has compete our nothing quarter absolutely business, And to and every of at small the the own we that on operators. we've because over of impact base, of HSD on these We an all much the our not the competitive and So, we already continue at this competitive what relatively XX:XX an a keeping churn is I that side, the from of all. to in a legacy. at true our choice continue On XX:XX speed really we some bigger we're changed subscribers for that seen with best reliability, ease being a customer provide, stay fiber our day, business competition, other and just value and know and to with that have good can grow us and builder low, that position first companies. is into centric of having dynamics our of Fixed we adds the net framework. overlap the creating grow subscriber providing doing a markets wireless, and

resonate corporate throughout address and want things pandemic John, customers to those did So, the really with continue to beyond. overhead? you the

John Rego

the the XX:XX five is fully that's number. million thirty Batya, Yes, overhead on loaded,

just We cutting closed on first. some we the before will that November this start year, end of of

couple Again, one. it what you in XX:XX call business. with relatively twenty this we schedule, chunk out with go and So, so actually pulling EBITDA XX:XX day forward. to the you been over transaction out shows see out some year along are course the a That's easy aspirational, the provided coming definition twenty you The we of will of earnings we that, take trending from of we plan of had two. next of cost big you out twenty point another the track of million us one reason where that on but look guys to it's if sort quarterly other know twenty each do. We’ll you, like adjusted

to can't think but take tied see we're relationships to time, more little like of bit Anything we contractual Some complex. I of a more get out it's going that you'll that.

we look EBITDA to us EBITDA to another from. way did to to twenty at quickly one think get also way take does exit at least that’s QX I'm the rate? At point to five know it is, XX:XX That margin. back twenty started I percent we get where the So when benchmark margin forty how by looking was another it.

the can this grow. we of intention cut thirty well, also to five it's grow and as but is full So, the out

Batya Levi

about hundred million still it. two left. of NOL And you XX:XX have Got Is that right?

John Rego

XX:XX Yes.

hundred. We have over two

think it fully usable is Southeast and two limitations will that think that dollars all five because three NOL these of that the two I million twenty NOL properties and NOL much eighty about was be specific fairly we rule there's and really I is to maintained. strange the the of is and

and generating have and cash that an generating infrastructure generating flow, more nature business. though EBITDA we'll NOLs we'll we still going be So, even be of yes, forward, the it’s

So, yes.

Batya Levi

Thank XX:XX Got it. you.

Operator

from ahead. Harrigan XX:XX question Your comes from Benchmark. Please next Matthew go

Matthew Harrigan

in that, [rally of Tuesday, you've if a particularly their [indiscernible] quite GG a XX:XX as on given a very misses then maybe basically in and And nearly at slight company maybe stocks, noise I Could by Thank enough market a last seen not Nielsen's kind amount, think and and of that [ph]. cases] a bit to not more five the increases law, talks utility attention about the law. could not of that on in Jessica a of really and have results getting the secondly, nobody you ZONE broadband And more welcome you. percent, it's usage a consumer meltdown little officially clearly got advent, give longer-term. the sense pricing, Warsaw make FCC, is Rose but upset who after We've number probably badly a Law, then clarity people power an being us the your to more the people's commensurate physical twenty thirty market but could empirical a the competition? you're lot lot head, percent per you probably pricing

had I'd toss the you. I some from few more conceptual and tackling – So, in off a things questions, thought there. blocking moving I Thank

Teresa Elder

so always XX:XX is What to HSD HSD ARPU So, our growth. and business there. services and offer, are using products Wifi XX:XX fifteen service. and is that by seeing percent, What ancillary than Thanks, other revenue question, out has speed bit to home higher are really have So, competitors you've we to if significant though rise value buying the overall or buying rates not continued rose that a are ARPU. home more contribute on clearly, they continues are the our Matthew we're customers that we which such based Wifi our they competitive, that as pricing seen

customer. overall with at the the look relationship we So,

also billing, was which we based as think, we compared couple usage roll the competitors sense the one to contributor starting that. a had know, dynamics of in to we XX:XX back of other strategy, to while I giving that sold, out but value, trialed it in a do a you in previously to Chicago, markets we are launched the the And it still where pricing marketplace. customers makes that markets competitive also is great

regulatory consumers. at about more industry through demands point. leadership with regulator giving sense that our policies always XX:XX own Regarding very [ph] with be the XX:XX also our while not work I associations see on we balancing work hopefully group, with this really customers make we'll like to smart value, while much course, there. We say with to work they our as we on FCC the So, industry, closely So, we're of FCC, savvy for sure of but probably the most money that what think them table. our [MCTA] and are just try the with making won’t good also happens leaving new the and I the

Matthew Harrigan

got you hundred that maybe a pricing, pile inflation do you've think instinct than Actually, couple nobody I of ball, has is little but on, sustained a just, hard kind your to basis say? but broadband, the on points crystal that to that better know is pace XX:XX or or sorry of that probably a

Teresa Elder

I Well, XX:XX selling what not we're is static. mean,

Our increase. customers usage continues to change and

So, in product. for increase have. the they're value are from seeing I customers The that think that that they paying usage

to what customers. take continue of be good to We advantage value always And happens. our to that. providing we'll competitive able want to see I are in guess, we So,

a think moving I really looking at forward. analytics the appropriate done So, seeing of we've job good and what's

the said, on customer, but making I either. any sure don't leave money we're very table like also pro So, we

Matthew Harrigan

Congratulations Teresa. and deals on Thanks, XX:XX the the numbers.

Teresa Elder

XX:XX Thanks, Matthew.

Operator

go Grant question [Operator Credit Instructions] Suisse. next comes Joslin Please your from And ahead. XX:XX from

Grant Joslin

XX:XX Hey, good guys. morning

of have different explain different front are in I or those the of more wondering second, that are in factors one So, And the vintages family competitors? nineteen if any MDUs twenty twenty a twenty penetrations, like, then difference First, twenty in that agile other versus you was single some bills I there question. and versus are factors? some think model twenty might

five at the was at without the leverage is proceeds level which that already nearly September when announced was two yet. six sound sales point the mentioned the two XX, So, point x were receiving

should two well received you or year will thinking about? be offsetting Thanks. in after the below quarter those at proceeds use be as the you point there we an end cash five of fourth So, level is

John Rego

Let XX:XX quickly for you. one me that get

offsetting use cash. going yes, So, of to an be there's

those dollars So, to going make I'm be be going cash to that's balance the parking of million payments. to sheet, on tax hundred used couple

adjusted look times next when at post of on look two like we we're basis, know set leverage, figures, we're you like not. it the you when So, really

And been has at it, adjust we're made. and are I to but dollars think the debt, point number. the seven see that So, we've debt We'll mystery that's going you'll see the pay post debt thirty we the our of times, about on you, out five right XX:XX take six where so million downs that to now gross for the roughly exit full, the full two you'll right it. around can you pay of see down so

Teresa Elder

the as second then the third we with on part driving our drive as in on would hit took the safety our third we and what those penetration, In the focus about lot the the what didn't pandemic quarter the twenty passed – first and different. and as as many right of other had used earlier. twenty the people of and people, that quite the tactics and question on penetration twenty a seeing Edge-out really in homes real field the twenty consumers in we're quarter, really of twenty XX:XX might we from And think I well, quickly of nineteen, would vintage. second sales similarly fourth of that when have really field be delivered for to the twenty other of other the twenty and Okay. one delivered seen and we that comfort and Edge-outs, penetration the a of That's with drive XX:XX tactics – were those focus out were generally, a with second quarter,

It's or our in think necessarily and those and pre-vaccine nature demographics just days I to of think we're are So, the adjust properties. those earlier the how point wanted the the homes passed had I coming but we since percent Edge-outs. of really, continuing to tactics of the XX:XX pandemic, wave it's to average, On the sixty see from net I out adds them twenty less about grow. just though Also, twenty. retained any

So, new WOW!.

So, rate the twenty one, us. sense numbers, that we've focus twenty been the and and the lot And a like on we of that for smaller twenty has pickup seeing a very really made but did penetration invest twenty we so less, Also, they're on vintages. areas really properties we bit in keeping. feel precise focused been some and are you the across are all the

issue bigger the are why think I that's a penetration bit So, on different. a rates

Grant Joslin

I’m Analyst XX:XX the Thanks so to forward much. Day. looking Okay, great.

Teresa Elder

Thanks. Great. XX:XX

Operator

question are over XX:XX to further will back turn this I for And at closing Teresa time. the no remarks. there call

Teresa Elder

speaking your many you and a at weeks for We the of you XX:XX to Thank us you all our coming interest with so Investor December WOW!. really much forward day. thank looking are in great and support joining in of Have for on X. continued Day

Operator

This call. today's concludes conference XX:XX

disconnect. now may You

WideOpenWest (WOW) 8 Nov 212021 Q3 Earnings call transcript