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Jun 30, 2023
WideOpenWest Q2 2023 Earnings Report
WideOpenWest's financial performance declined in Q2 2023. Revenue decreased slightly, and the company experienced a net loss due to an impairment charge.
Key Takeaways
WideOpenWest (WOW!) reported a slight decrease in total revenue and a significant net loss for Q2 2023, primarily due to a non-cash impairment charge on intangible assets. However, high-speed data revenue continued to grow, and the company is focused on expanding its network and managing costs.
Total revenue decreased by 2% compared to Q2 2022, totaling $172.6 million.
High-speed data revenue increased by 4% compared to Q2 2022, reaching $106.7 million.
Net loss was $101.7 million, driven by a $128.1 million non-cash impairment charge on intangible assets.
Adjusted EBITDA decreased by 4% compared to Q2 2022, amounting to $68.1 million.
WideOpenWest
WideOpenWest
WideOpenWest Revenue by Segment
Forward Guidance
WOW! provided guidance for Q3 2023 and Full Year 2023.
Positive Outlook
- Q3 2023 HSD Revenue: $109.0 - $112.0 million
- Q3 2023 Total Revenue: $173.0 - $176.0 million
- Q3 2023 Adjusted EBITDA: $70.0 - $73.0 million
- Full Year 2023 HSD Revenue: $437.0 - $441.0 million
- Full Year 2023 Total Revenue: $691.0 - $696.0 million
Challenges Ahead
- Q3 2023 HSD net additions: (1,500) - 500
- Full Year 2023 Adjusted EBITDA: $286.0 - $290.0 million
- Full Year 2023 HSD net additions: 6,000 - 10,000