WideOpenWest, Inc.

during this time simply press star followed by the number one on your telephone keypad if you would like to withdraw your question again press the star one thank you i'd now like to turn the call over to andrew posen vice president head of investor relations you may begin good morning everyone and thank you for joining our fourth quarter 2024 earnings call with me today is teresa elder wow's chief executive officer and john rego wow's chief financial officer

Before we get started, I'd like to remind everyone that during our call, we will make some forward-looking statements about our expected operating results, our business strategy, and other matters relating to our business. These forward-looking statements are made in reliance on the safe harbor provisions of the federal securities laws and are subject to known and unknown risks, uncertainties, and other factors that may cause our actual operating results, financial position, or performance to be materially different from those expressed or implied in our forward-looking statements. You are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update such forward-looking statements. For additional information concerning factors that could affect our financial results or cause actual results to differ materially from our forward-looking statements, please refer to our filings with the SEC, including the risk factors section of our Form 10-K filed with the SEC, as well as the forward-looking statement section on our press release. In addition, please note that on today's call and the press release we issued this morning, we may refer to certain non-GAAP financial measures. While the company believes these non-GAAP financial measures provide useful information for investors, the presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. Reconciliations between GAAP and non-GAAP metrics for our historical reported results can be found in our earnings releases and our trending schedules, which can be found on our website. We have also included a presentation this morning to compliment our prepared remarks. Now I'll turn the call over to WOW's Chief Executive Officer, Theresa Elder.

Thanks, Andrew. Welcome to WOW's fourth quarter earnings call. I'm pleased with the progress we made in 2024, especially in our greenfield market, where we continue to pass additional homes and grow our penetration rates. Looking back at 2024, we took significant steps forward toward achieving our strategic initiatives, advancing our financial performance, and enhancing value for our customers through innovative partnerships and pricing strategies. all while delivering exceptional products and services to our customers. As we mentioned last quarter, we closed a $200 million new super priority term loan in October, and this puts us in a strong position to continue to invest in our greenfield fiber market expansion. Although we had a slowdown during the third quarter, we increased our construction pace in the fourth quarter, adding homes in our newest communities of Brighton, Michigan and Hernando Beach, Florida. All in all, we doubled our all-fiber footprint in 2024, adding 31,500 new homes while still increasing penetration rates in our market. We remain encouraged in our legacy markets, which saw positive trends in ARPU driven by customer upgrades to high-value services and consistent levels of low churn, all of which highlights our solid base of satisfied customers. Now I would like to discuss our fourth quarter results, which reflect continued momentum in our greenfield fiber expansion market and strong cost management. In the fourth quarter, high-speed data revenue decreased 3.5% year-over-year to $104.9 million. but includes 1.9 million of revenue credits issued to customers as a result of Hurricane Khalid and Milton. Adjusted EBITDA of 73.7 million increased 3.5% year over year with an adjusted EBITDA margin of 48.3%. The continued improvement in adjusted EBITDA predominantly reflects the benefits accrued from continuing to drive efficiency into our business as we migrate our customers off our video platform and further align our relationship with YouTube TV. For the full year, our high-speed data revenue decreased 1.6% from last year to $423.6 million, but includes $2.5 million in hurricane credits issued during the third and fourth quarters. record 1.5 million in insurance we did record 1.5 million in insurance proceeds through opex to partially offset the lost revenue given this adjusted ebitda still increased 4.7 percent year over year to 288.4 million with an adjusted ebitda margin of 45.7 percent during the fourth quarter our fiber expansion made further progress as we passed an additional 9,300 homes in our greenfield markets, bringing our total number of homes passed to 31,500 in these new markets in 2024. I'm especially pleased with the results in these new markets, where over the course of the year, we strengthened our penetration rates from just under 10% at the end of 2023 to 16.6% at the end of 2024. Our success in these markets reinforces our confidence in our strategy and outlook. The 2024 edge-out vintage also increased during the quarter, passing another 2,300 new homes while delivering a penetration rate close to 40%, making this vintage another strong performing expansion effort. Our 2023 edge-out vintage increased just over 1% to a penetration rate of 30.8%, while the 2022 vintage remained strong at 31%. With regard to our HSD subscribers, we lost a total of 10,200 during the quarter. Of that, approximately 5,400 subscribers were lost due to hurricanes Milton and Helene. We added 1,100 HSD subscribers in our greenfield markets and 800 in our edge-out expansion markets, which partially offset the drop in our legacy footprint. The steps we introduced during the first half of the year, such as complementary speed upgrades and our simplified pricing plans, which includes an optional price block, modem included, no data caps, and no contracts, are continuing to benefit our business. The charts on the bottom half of the slide highlight a shift that reflects the growing success of our cyber expansion strategy, as well as the impact of our initiatives to strengthen our legacy footprint. ARPU remains high, increasing by around 1% year over year to $73.50. despite decreasing sequentially due to the hurricane impacts previously mentioned. Overall, we continue to see the success of our product, marketing, and sales strategies, which are showing particular strength in our greenfield markets. As expected, our traditional video business declined further during the quarter and now has dropped to 60,600 subscribers. a 33% decrease from the same period last year. We anticipate this trend will continue as we transition to YouTube TV, which grew significantly this past year. To conclude, before handing the call to John, I would like to emphasize how pleased I am with the progress we made this past year and the clear strength and success of our greenfield strategy that continues to make substantial strides forward, both in terms of the number of homes passed and the clear momentum as we have demonstrated our great penetration rates in these markets. I will now turn the call over to John, who will go over our financial results in more detail.