In This Story
WideOpenWest Inc. (WOW) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines the company's financial performance, reporting a net loss of $58.8 million for the year, compared to a net loss of $287.7 million in the previous year. Revenue decreased to $630.9 million from $686.7 million, primarily due to a decline in video and high-speed data subscribers.
Operating expenses decreased by 15% to $256.8 million, driven by reductions in programming costs and other operating expenses. Selling, general, and administrative expenses also decreased by 23% to $155.0 million.
The company recorded no impairment losses on intangibles in 2024, compared to $306.8 million in impairment losses in 2023.
Interest expense increased by 25% to $88.6 million, primarily due to higher debt balances and the refinancing of the company's credit facilities.
WideOpenWest entered into a new super-priority credit agreement in October 2024, which includes a $200 million new money term loan and a revolving credit facility.
The company continues to focus on its market expansion strategy, launching services in several new communities and expanding its network in existing markets.
WideOpenWest's board of directors authorized a share repurchase program, which was completed in June 2023, with approximately 4.9 million shares repurchased.
The company reported total assets of $1.51 billion and total liabilities of $1.30 billion as of December 31, 2024.
WideOpenWest continues to face competition from other broadband providers and is focused on enhancing its high-speed data services to improve profitability.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the WideOpenWest Inc. annual 10-K report dated March 14, 2025. To report an error, please email earnings@qz.com.