CABO Cable One

Steven Cochran SVP & CFO
Julie Laulis President & CEO
Sebastiano Petti JPMorgan
Gregory Williams Cowen and Co
Craig Moffett Moffett Nathanson
Kyle Evans Stephens
Frank Louthan Raymond James
Norman Kramer Kramer Investments
Brandon Nispel KeyBanc Capital Markets
Call transcript
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Good day, and welcome to the Cable One First Quarter 2020 Earnings Report Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Steven Cochran, CFO. Please go ahead.

Steven Cochran

Ailey. you, Thank welcome call. and One’s quarter first Good to earnings XXXX afternoon Cable We today. us appreciate joining you

Before I’d future may contain we today’s forward-looking that proceed, statements like to relating to events expectations. you and remind discussion

to disclaims find new required One differ from or release is as obligation to update and under can actual today’s recent by our otherwise. expressly listed materially factors Cable result no these cause a You forward-looking One’s information, any could its SEC as results events statements, in in law, or projections future obligation, except earnings that alter filings. and Cable whether of

Additionally, in website non-GAAP discussed found on today’s or financial presented conformity certain with most of this call U.S. on release financial our measures to Accounting include comparable be remarks of can a the GAAP Generally measures discussion Reconciliations in not measures that directly earnings are Accepted at our will Principles.

President me and Joining is Laulis. on Julia CEO, today’s call our

that, the With call Julia. let over to turn me

Julie Laulis

proud side-by-side gratitude every both by am I you, I analysts time. afternoon mentioning have turbulent us each [indiscernible] all to day. work associates thank done by humbled as they opportunity with Words these the taking are for unprecedented to cannot and to during and time off want my Good bankers who shareholders, times. and our and associates, I all Thank them Steven. express during join this

our tirelessly company our communities our the pandemic serve customers the for worked and simply once have shown passion to remarkable. are associates they've Our again throughout and commitment COVIDXX and

to of instituted associates so care taking initiatives of customers. on their has We've to ensure the continue in crisis, of our take this of our our multiple the From focus primary care they can families. been health and safety turn associates that our are and onset

almost immediately, risk to As for quickly our care and of associates. needed home those than more were work their work able children part by response our who and XX% pandemic remotely from of corporate associates center our to to call followed

was perform new operations it protocols on from to and to those continued rigorous based and implemented national home, procedures are guidelines. who local unable safety critical jobs For their we

we addition, support pay associates to our asked company's to for homes are who XX% a their hourly-based Pay, premium leave implemented of In Purpose in purpose.

financial members. of reduce we for in time, enhance and our uncertainty for our families up for program. providing for additional To care during Out themselves, time paid That associates Time caring emergency family off for stressful XX associates allow their hours included our to their this flexibility to

in associates XX leave two protective more enhanced our thirds of of job pay. family time For need emergency provided weeks additional regular leave an of

team proactively is the Our conditions Since impacting functional our would challenges that led across XXXX incident in plus time states. COVIDXX around February the that situations the clock the team worked planning in being to address XXX served a community management XX face. more response than cross by we began unique for has associate and

team, enabling kept in this leadership sharing key work and changing efforts to supply our contact to adequate ensure equipment the personal briefings addition make ongoing. had customer and to as important environment. associates enormous They for for equipment protective to These communications In well well-informed, with ensure devoted associates. a also communication necessary chain efforts and as team home we are from rapidly supplies decisions our of information was constant in were our daily

financial Pledge, in impacted of we burden connectivity continued which have the day matters Our this put of we XX made crisis connected commitment is and to place than commitments what Americans to to extended never keep on has The our we following stay XX those the true pandemic and to our healthy that part measures several stronger March been to customers June Connected promise. XX, through most communities the and XXXX. customers provide recently this as by for FCC's to initially Keep

this important conductivity to lately destruction customers by understand of customers while remain part and is want bill waiting to and our unable especially ones school business are through to their from at We during suspending well disconnection We connected pay time as caused work keep residential to and our the do loved as they Internet home. pandemic. activities for the how are who services small

areas. parking opened public up crisis. across hotspots We've the hotspots use Wi-Fi XXX footprint our for open other areas lots and than public office Wi-Fi in additional in other during Work more free local public to continues

In the variety efforts concerns we fees measures addition customer XX through beginning these if to data they suspended data charging XX, those use XXXX. a to and initiatives change March we to of beyond enhanced more began normal implemented not than extended June with those pledge. On on

a COVIDXX existing usage June our plans we We're offering per evaluating recent Given we also patterns, $XX from XXXX low-cost families challenging help resume for plan residential mg those adjustments month low citizens such as service. senior students. XX and data are college Internet also to and our standard through impacted XX, anticipate when income and

for June risk school we provide accepted at our direct out to which XX, and finish footprint XXXX. to to Additionally, determined local unable year. students the families districts service Internet it enabled their afford students and the eligible on across own school billing School with service households partnered for through districts

the impactful systems citizens Wheels need and it to those In an we $XXX,XXX to at upon circuits have and taken banks communities. $XXX,XXX to pandemic, risk possibly and our the local most efforts donated service. their themselves our effort local to Response support And across who during Fund on XX receiving states they Meals this greatest and ensure of finally food for the COVIDXX individual initiatives nourishment we vulnerable senior our

how come together funds workers to commitment materials speak each providing up Just local have and delivering their healthcare first with and hold pay help for to centers surprising a the truly customers times few in of to remaining responders, extended we our efforts communities can books for they that These examples the cards. meals include gift of crisis. and all associates to restaurant childcare and and senior to

said I this care top say each of months. few taken am repeating of I but I our it the know our proud and does call, the One enough Cable bear our how customers I last we've how other, cannot of over the team at communities and

out that is not but true to we staying to the Before our remaining that who I'm are reflection discussing Simply which to every only stronger. we'll world. our noting it put communities guides during and are their efforts this storm provide us confident operations purpose come is worth of by a I think many course, are day of we connectivity these which weather

deemphasize many I'm providing to with very critical at of impactful an prioritize business services and our support when we continues years We for service of Today a grateful the and pay this been can the essential agency residential speed to our be shift decision strategic data businesses. in ago our residents and the an needed to during volume to for laid as foundation seven time [indiscernible] so video. dividend has that engineered make infrastructure difference infrastructure. industry and roughly by time

much in first COVIDXX quarter pandemic from less more to have month ads to far. great off sense during to geographically larger each the We're that start a the also year. operate dispersed with months We so fortunate very the experienced saw virus from limited were this XXXX agency to health same impacts markets prior last

has XX,XXX residential As in people significantly. schooling into customers. entertainment agency an getting only uptick demand working, weeks experienced thus upthink, sales high-speed the data and and increased agency quarter. unfolded the continued the we however added for than two crisis the more second first In far quarter We their during last more that residential began March reliable compound, of connections

the rate that quarter our entire we've growth year-over-year in added was excluding first already and residential did second the agency first Fidelity, quarter. we month customers X.X% Our more in the throughout

a I innovative our our during technician who well. thank to but care complete an take ways found as moment want not take managed to of installations increased only customers challenging time, to number of this to

complete that walk for customer completion our the longer health customers, team from our As one safety chat to no home of allowed our that their and a outside and to our installs through video home. created were installation because the up of technicians example, entering technicians

also the first from quarter more with increasing the XX% gigabit customer consumption nearly just for of fourth and month. increased than usage per quarter XX% average year -- XXXX per dramatically versus than Data the XXX less prior slightly

during weathering usage peak less We increased traffic. for traffic utilization than are averaged quarter, XX% for share our their strain. pleased Throughout downstream network network less to the of than demand upstream and is XX% these

our customers to and reliable footprint. capability of us bring strengthen $XXX for and into invested Over three to the future. the internet and than rural communities return communities to of apparent the across consumption years, is our grow million that we the allowed on and compete to past and foreseeable readily benefit fast curve investment stay The our well ahead more

and In adoption online the installations, chat, core scores. realized transformation the and our web but video demand an lower addition of self with benefits for in in digital to increasing travel not are product, increased these customer also of work, we've increased only the reduced adoption the seen cost self-service of acceleration operating orders satisfaction tele

expect longer-term all the of from in persist pandemic result impacts subside shifts may when We these could some or which benefits.

or saw continued excluding revenue side, with From XX.X% increases in the XX.X% Fidelity. services we growth business of QX year-over-year

unlike operations. and business experience customers owners some sales reopens closely agency can with more normal COVIDXX half on our pandemic business they resume the new a bridge up revenues. to create and However, services business a to help existing little with economy semblance the has pressure caused of make of residential until small We're small both some working which than

a core paused $XXX.X in growth of generate for to of customers million business decrease in adjusted of in week, a our in quarter. total downgraded. million approximately of lines either that $XXX.X or reoccurring X% two As revenue have commercial us been first allowed had last EBITDA we The the of monthly strong

revenues combination adjusted in and million Our lost to expenses $X COVIDXX results a related incremental in response. nearly EBITDA factored of our

in have value We're which alignment focused long-term on the that team and Board businesses understand some are said, Our to seeing and desire customers pandemic, our be our clarity the strategies. during we with and fundamental of Directors happening what being adopting company's focus management creation of is today. continues changes, are now. around been the That for always

Although we has this the during the impacts periods. duration business we the current how already and recessionary during predict know environment the can't generally last impact economy of performed in of emergency do general, the our the or felt the industry

fees connect overage effect may well as factors efforts. a as ultimate items and macro I'm the regulatory discuss are the items of the fluctuate been of data potential and are any on debt elevated most Advertising the near-term. obviously services, uncertain to variety impacted most the based have our in or support negatively and that micro charges macro on and near sales, business the costs, revenue about data the The in donations late to residential -- Labor communities legislative items term. bad the expense and are

recessionary because certain the can't period be will extended consumers impacts Longer-term intern predicted behave. say how can't for assuming we

has only industry will households well-positioned importance our our critical historically believe been and most priced Our that a of the serve weather HST be restriction. there value grow products We will to in to reliable HST customers. from

is Yet customer risk is remaining minimal. our in more downgrades cash significant. we If flow this is history have guide, business our previous discussed on in calls, likely video for line the turn of as

effects growth. So while and feel certainly session, from feel well some reasonably financial our we future sustainability for are positioned we

balance conservative to to our our with confidence our respect sheet position. adds Lastly, only financial

turn now leverage. liquidity for over position, it first-quarter to of results our financial discussion And well Steven as our and as a I'll

Steven Cochran

Julie. Thanks

increase by of quarter representing XX.X%. increase in produced of $XXX.X Revenues increase. the first residential revenue business of This million compared XX.X% first were quarter prior fueled financial XXXX a year increase HST The solid to XX.X% for and the $XXX.X revenue results. million services quarter was

total revenue Excluding year-over-year. X.X% Fidelity increased operations,

first revenues in the administered basis prior were expenses quarter a revenues share Net compared share. $XX.XX income diluted of $XX.X basis the in in $XX.X XX the compared of the on prior XX% in XXX point per or revenues were general a net a basis was point improvement. the $XXX.X to XX.X% million per or year expenses first million million quarter, improvement. or income or Selling, in Operating quarter $XX.X fully $XX.X XX.X% million of to and first million, revenues quarter quarter of was XX.X%

Adjusted and EBITDA the for to million the increased $XXX.X year XX.X% prior from was first quarter. quarter

to first increased XX.X%. totaled million for and XX.X% adjusted XX.X% the Fidelity which of XXX XX.X% related Our EBITDA year-over-year basis operations. going revenues margin points to XXXX, from Capital adjusted million of equates includes of quarter $XX.X expenditures to $X and EBITDA

the corporate $XX.X million in XX liquidity and From investments. facility We first dividends during credit quarter potential standpoint, flow. completed four borrowed million our significant for In shareholders. small the of XXXX acquisitions March $XXX as to to we cash purposes million had general of including revolving paid $XXX a under generate first we cash on free of and we and approximately hand continue quarter

end By us under our borrowings cash on billion $X.X was additional debt the liabilities debt hand quarter EBITDA had annualized revolver and Overall consisting million revolver. our balance ample term liquidity. last our against finance to for $XXX.X times after approximately was we quarter adjusted lease available of providing netting and borrowing X.X loans,

few items we questions. before A other take

fortunate our year to have our projects prepare we and continue overall in were do integrate us to that long seamless to gives at we immigration achieve us knowledge and has period pre-closing over timeframe. efficient. First, gained and will We delay integration anticipate more believe originally This to not experience three Fidelity. a planned prior timeline we in the a can combination confidence make our

in annual reminder, video was year. was which in March implemented last a our year as of this adjustment, February Second, rate implemented

we as smart last addition mapped packaging and customers packages. In way quarter, we pricing latest to over on and our new communicated existing

we of and second the efforts keep our anticipate ease connectivity provide for SEC's light our will by in COVIDXX the commitment of Third, with our pledge to America's customers continued pandemic, affected. be along impacted extended burden negatively quarter the and financial communities Connected to other

also lower already mentioned revenues. this as include that fees to due Julie fees, advertising we for services anticipate and labor As reconnect higher current as overage drivers bad debt late data the other and we'll business charges the see well and environment, reduced expenses,

potential usual depend residential partially for We the with than of by will factors. a impacts will customers quarterly be other offset extent in duration such the impacts of increase along severity and believe and The these negative larger new data others revenues. among pandemic on

of Lastly, the we use cash capital, strategy to deploy will on to the business. subject grow of continue and our balanced M&A and follow

rural projects serving As that want in seeking drive and we investment until related opportunities we've the markets of acquisitions On capital topic, well to I to broadband before long-term said intended as in also to that characteristics. that to combination rural small growth. geographic as close support the fixed investment with wireless footprint in of current a wireless recently closed company another Letter fixed Credit we a proximity company America provide our and similar mention

and to across Whether Wireless, it's acquisitions Fidelity strategy the through investments expanding communities reliable these footprint alignment Fixed broadband Clear and that look our in deployments are small or with existing underserved to like capital our believe Way, bring country. or we

we're questions. Ailey, for now ready


comes [Operator with We'll now instructions] question from JPMorgan. begin session. Our Philip question-and-answer first the Cusick

Sebastiano Petti

Hi, this Phil. Sebastiano is on for

offer the down have more the the offer, question any perhaps of market side. XX you quick a this $XX kind and for or FCC quantify on or had the megabit pledge you number could that if seen that Just Mb Julie new currently substrate that's is you acquisition of for subs are on either Stephen in or

Julie Laulis

higher the on plan lot as shopping level goes, we are online are that were less people cart Mgs are far calling of selling Mg seeking XXX have out us The than As more. X% to a going to and that plan. or quite there our them XX plans

the rate take a So plan. very on little XX Mg

commenting people on Plan Americans covered many the our as that far Connected all customers. of As are FCC under how

any fee We're residential pledge June. end at or ends the or the until our just customer of late committed to not business connecting period assessing

Sebastiano Petti

gone following subs perhaps there into of color on Any payment arrears? of a late number in up that, Just that. on have or is that kind

Julie Laulis

exactly hard past about Sure. stage when accounts XX,XXX reminders are have that It's because than ordinarily have. disconnected this pay to over then there's arrears about been that at say more to there and in we us are right we have who they said, customers they are but would pay that that that be being due get customer

Sebastiano Petti

perhaps Letter mentioning Okay. wireless acquisitions have That's Credit on that, investment. aspect, on think both just Steven hopeless Were they mentioned in and small or last on and then color any you you investments. Have just on small then you type quarter much. I of two since fixed or JV to environment great. uptick touched M&A an seen perhaps the or small do you an willing COVID uptick in be some that would seen very Thanks the

Steven Cochran

bucket. fixed two these that mentioned. both were of said, investments of into so these investment that these in say one fall acquisitions joint we wireless Yeah just I would we're making companies Neither venture I

started. seen were we've they before both they so underway don't that I impact. near-term And any think

will determined, up those a say we but road the in I but what most had have nothing process is yet. and of of I variety things new down be think to process come think I continued is popping in would

level with I some think what waiting are people going from opportunities. before and do still of markets there to another debt is certain probably see standpoint in a jump to the


next with and Co. from comes Our question Gregory Cowen Williams

Gregory Williams

Thanks Great. for my taking question.

it last on sell low-end plans. little So the like question of very is sounds the

when in be the you allowing over? be data help our overage on say I subscribers thus with could you're maybe gross perhaps that fees, tune many terms about are and may is second how pay fine you impacts you're you low what raising ask in and and that talk could because you variables go you still the can home ARPU that characterize are out that one just strong we still So quarter ARPU ads the impact typically there our for which far your churn extremely if seen

Julie Laulis

Hi Craig, it's Julie.

of is nonpayment. because HSD anyone incredibly we're low for disconnecting it's for on based churn industry canvassing in and lower not our even So course our the

obviously are that being installations about breaking record basis we've is every the talked of week. So weekly low. number happening each are very yes, With already churn on a said, and almost that

a get but typically of terms data the guidelines. our over seem to the think stuff wavering quite go couldn't bit second ARPU I little be part how was On question around your people many I of

what isn’t specifically, of our but go the that far mean publicly can something over and majority I And do that guidelines. not people, you than I something majority address we tell data away is and

those, upgrade stay they data go pay majority unlimited But of either is their don't they where gigs, the our level underneath a plan they know more that people can or take possibly And them. there with because do percentage small higher exist of for additional option The even comfortably into for choice. a over. they'll

Steven Cochran

in Yes. I'd And think to thing the you into homes. where think still places to asked we're fantastic though of go awfully volume. in to be one into ways doing add I the able Greg, out to question do I of the because just are figuring how first out there. homes, Yes. home been the we're not team and do we impressive though to to one just And going people installs It's installs install we drop-down figure been a and to have way even their the don't about without our amount that's go not able able has customer to self-installation even

people We because well, the have been lost very over, on that they go wouldn't as there's question, now we going we the but probably too, question over. over is other Julie few think mentioned of people then really don't have And about, more revenue who historically. go have

you for has about a there's with the revenue that revenue that, progression, if term. giving So we'd think we although the up short spiked them huge fact gave not of in even usage the lost amount be though associated that,

Julie Laulis

thing the was to it do. But right


with Nathanson. comes question next Our Moffett Craig Moffett from

Craig Moffett

will I'm talk lack a Hi, lot, things, clear, the to want know make I that relative the and prior usage negative One, just but you, overall years? Or talked will when the to will sure perfectly overages you meaningful you've of have about from I are what negative just it headwinds you ARPU be sequentially Two be about quarter quarter? be suggesting headwinds or that year-over-year that those broadband it next next

to guess given I an the to opportunity cable a everything more to about credit I be bit markets, M&A, the second, this operations but to guess, financial then, dislocations And may is for given the find eager try you've and smaller talked sell little perhaps from operators you that environment?

Steven Cochran

first of we would I less say question, which think have thing quarter, without the million would the one forward I wasn't than don't we those it what since a March. all had like, we it. until guidance, we wouldn't that would in on it And Sure. really say the was the that been be give $X is said of impact all will half the second looks really say things we of first

a And half only really a so that's impact. month kind of

offset activity. the together, So more you $X a max. incremental million say by revenue impact could had and customers growth that to all is then the $X get we'll at month and added we've things that higher the million from more And that's

And front, we M&A And position, be a good themselves. will great both sure being present in should on us themselves. where in yes, that take that the sheet they opportunities operational opportunities that's make there put then that like perspective, have to and advantage some we think balance ready financial we when present those of absolutely think want we're we to having and


you. Thank

from next with Kyle Stephens. Our Evans comes question

Kyle Evans

on that's years? on you're you of that It's an of an questions. give for sell-side focused side M&A. update are private in seeing of their give terms through of questions the us business kind thanks since kind from acquisitions? interest rest you've on maybe X.X infrastructure two Could Could level in then years potential firm update the of what what you the equity doing learned had on closed almost And us you've been flowing taking and of Clearwave. that the my Hi, you X.X how over

Julie Laulis

me you for in hop you? to Do want

Steven Cochran

Sure. Yes.

Julie Laulis

ever want are ownership to to certainly, wonderful but they continue So they there a is say by I accelerated Clearwave we untouched pandemic rate they're since an them. installations acquisition. folks are, of complete because, The took don't at

second construction a site, will, up in capital the them allowed hub. if order a to have you set We

cheaper quite business businesses than and they hired pandemic. the building are at folks more the rate enterprise sell actually, this are They up continuing, staff, a are footage Sparklight to before. well, not throughout square and ever They've double as

We these could coming you who time periods service. is the you warm heart. imagine of I that tell us to and can for really your stories would mean what during asking

throughout pandemic. is Clearwave the well very doing So

Steven Cochran

the then remain underway obviously, mean, continue side, potential happened them close. and transactions, were variety space. and I probably private infrastructure and it done they were a the M&A But we see on And clearly, to as some interested in to had that before competition. There's equity of just literally, the deals

those was it even And other, like and get most of then where into process would tougher going they found smaller thought just to done. the to have down going go was think say, it continue other a than to decided financing transactions I to that pause. transactions managed And it. a I to was they through there's stretch be have closing, way though a There sounds the piece probably take

seem interested equity groups they in private talking I value because as infrastructure talking to ever they and in to it. in see space in But funds, think the

hadn't. in I to telecommunication than into who think them those I think much of made better others just infrastructure are lot especially move networks faring funds a general, who

of I infrastructure-like And strengthening is this core that assets. are types the networks think and so truly our position infrastructure only

Kyle Evans

follow-on. quick One

for the along we of integration you're you so a and we that line. way track? there be that mentioned looking to seamless that no change expected Are some on your time three-year should You know milestones Fidelity

Steven Cochran

But I'm sure actually we just... you. would that tell there's no, I'm anything not

Julie Laulis

networks We've already checklist the and things integrated We're with we did connecting payroll applies, together. All others. on of benefits. some the imminently

Steven Cochran

getting learned wave you process haven't tell integration The new a Yes. such led by great many Eric in mean lessons the so were just so that and things I has team can issues. job Lardy prepared. many through done become

the And it also the the timing some of contract. of of fact Viacom helped just by

that. we things time road the down so And able we frame to would many realize of process well close. of this I in had to say we're sooner the very But that were because

the be on will And that. capital honestly, networks the spending upgrade bigger the of pieces piece

underway. a time So is integration over the the piece is frame, heavy three-year that lot will the well CapEx the but take side on lifting of expense the


Thank you.

Our next Raymond question comes James. from with Louthan Frank

Frank Louthan

me very that are what at you how the much. risk forward, your business, coming Talk more wireless thank you then have through license at of base kind and to looking interest of of customer about something and some are impact in is forth. going And you're percentage looks and the like in looking that that so Great, sales SMB funnel interest up? with the what little a this sort on WISPs, bit the ahead, the of there further in, auctions quarter, your wireless

Julie Laulis

consider Well, I'll to technology start we that our people Frank, America, guess. connectivity sort from to reverse, I they broadband space, that need. on bring the so we agnostic WISPs, rural are takes so deliver into With of regard will the that and whatever it

downgraded part, let's counts will reoccurring just half most be services paused we a or to level And are of lower of talked quarter, yes, asked SMB revenues. to see, our first about after recently service. total representing first be either say, been X% the our this SMB, recent I'd business So have about revenues of so

mean have another turns see very to I'm geographically is this is thankful I states How I this okay. out already where mean diverse. are time open that doing and we are

going that far, have just effect health had that it's stay operating fine. this they're to from pandemic, that very We but way, have not little states so

watching closely. are is we turns be going is So the our variability across to How very thing it out wide. quite the states

Steven Cochran

got They from be businesses piece need that on to in capacity. tougher. clearly, more same teach people to that that I add only businesses process. time, becomes At Yes. that so districts business is thing sales there's the lot trying And home, being funnel side, there's will school so the a some would related working of everyone through the are the there closed and are

that of additional that creates all with bandwidth so needs. And

to And so that first and them teams demand, we're open demand. meeting to we on have when trying up, that for the sales or them turn our there And any and back sure businesses up either turn there's our make back focused where time. we're that on all of that

Julie Laulis

relative talk do. quite I from I able and to to results were while saw won't And was normal, they their month, at what it astonished I to last

Frank Louthan

Great, thank much. you very


question comes Investments. next Our from with Norman Kramer Kramer

Norman Kramer

Hello, good couple of questions. a afternoon. I have

with means unfamiliar term type that you you could exactly, if acquisitions. please, so I'm several mentioned I'm what wireless, And what the business business it First, doing in of had other words, fixed wondering smaller is. explain,

And not of out you did could acquisition terms Or consider you revenues? mention further smaller, size give service What you or extensions subscribers an either network. on color in whatever lastly, be on would great. would your of that

So might do you add anything there? have you

Steven Cochran


the wireless of question where a basically especially throughout areas internet Fixed Internet very basically, for is on providers. wireless those building is most So that's services in are and fixed referred a country as point-to-point wirelessly, service that done the generally That to part, wireless. low to economical. not service type the is first WISP, density

thousands we it, sort low-level service their building service. or the small And we thousands mentioned all all XX earlier so density still think around of have us about those outside as and the Julie themselves interesting that or of DSL very states, are homes we Internet XXX either communities out an communities fixed choices fixed satellite a and justify think of wouldn't wireless need to, And wireless, is generally technology. a some but still are across

be DSL to going going We're be space. to satellite space. obviously not in not the We're in the

the surround communities that broadband-level technology opportunity customers the those with leaves our service. provide still that so still provides to And a that

with of value ourselves the for And also creation handful we've far companies worked been both of on a markets, have in these then both a and it making as continues but as to companies small period improve, that have. deploying investments it opportunities time, the that these for themselves learning doing in that technology

the nature And in what those. we're at looking so of that's

some what okay, probably From of free really a we small could investment standpoint, down of of acquisitions. EBITDA at the $XX we it's be existing tell combined would them, of but comes million least we we we can those It do large not And to probably anymore. generate, to that flow combination at with would think of it's have it with sheet, how we also $XX just I not that that small. point, cash get think capacity small may that our $X balance category what from about, in the consider anymore. million we probably many anything revolver you fund over Once and million smaller EBITDA, you not is in

of So how those. that's the context we about think

on And then lastly, your about extensions. question

additional our a increase pass to I those a of of think doing a for where, instance, fixed footprint, outside existing or for market have and we opportunistic, which businesses, most XX we win contract of are and we or places. addressable across towers our extensions are a that, build really buildings. opportunity their fiber-to-the-tower win we're And just, so school the build through variety serving to district, buildings we three out part, to the

addressable new all us in requires build go additional again that we our the additional exist. sell that to And of addressable we once of All fiber buildings. do put now increased that that, fiber passes market. as market ground, to that we didn't And

about we our talked we what network. talk that's about So when extending

Norman Kramer

Okay, very very, helpful. Thank you. that's


Our next with from Capital comes Markets. Nispel Brandon KeyBanc question

Brandon Nispel

the question. you Okay, taking for great, thank

was unlimited I to around I change you and/or plans. of evaluating offer it the One guess you Great. Julie, existing data Julie. could. you to for in of sort could that in prepared hoping your elaborate might on and two, have mean that structure pricing currently. your if data remarks, I terms what Okay. your alluded ability

provide Steven, stats. for us was you Second, I hoping could some

a trying share quarter? you think the of the not product. sales self-install could with said monthly get of that with were a percentage that unlimited if us you typically I'm what thing percentage same base receives of I then it, sure data but the to during overage sort we're And to is on the an similar at basis,

Julie Laulis

Brandon, it's Julie.

yes, of going penalize to customers a plans. plans now in all, it time, of So the mean it obviously adjustments we're away, are do but we basis. data don't for all watching data data have we we every on don't to that over customers the well, I that majority first of plan annually, And Clearly, year. we we've far make evaluate annual We our mean fore here for an sense situation where made the plan. guidelines and just majority that set

and circumstances. what to a triangulate think only these usage, With try would we that now. going the to shift on process take fair data that modeling it's and That and new at prudent look is in be normal under

saw grow quarter, We way beginning through the the going seems first of the to through consumption utilization all data down. it actually and that is April, through And now May. settling be back down

makes modeling know starting is schools you probably to to can't are they're season, what be starting Now because even maybe to close because going tell they're to to we're That still what people so are work, modeling be that ongoing. their I back sense. that's don't I it. going go

We do have data. unlimited

a that have month. option. for available $XX customers It's We to currently

in in we to the plan will new our opt about that in option. And of time, coming XX% of any the unlimited. XX% that So fact, take time. in sell the customers can door

packaging, last it's we January, plan Our pricing called started and well. very what and working in flex,

reason change at no. I packaging don't our yes, the to the pricing plan for opting of higher. in at time. XXX-megs door a coming XX% Currently, and We we think that don't Data a we this packaging have folks all or pricing have guidelines, is and over

right churn even and those low, and satisfaction the that the plans the plans us those with value tells which pre-COVID, incredibly of incredibly is the is was sized. churn And

So we're think redoing I other than guidelines, good to the go.

Steven Cochran

side, on then And other stats around... the as as the far

Julie Laulis

I self-install. can about Well, talk

Steven Cochran

ahead. go Yes,

Julie Laulis

them. of right? or that XXXX, Fidelity us, in CABO have quarter time, surprise first and Legacy self-installs any quarter to first of in available only self-install a So XX% neither went And XXXX to be of NewWave this at won't point up are

Steven Cochran

not revenue can month Yes. million is much out were of variety the versus lost a million now, that overages, that break going what had would revenue we you that just are could $X they but what compared $X to because be they really additionally. then to have the we're other about how talk so overages on to to gets to And historically

which the in think I we'll I we and markets the sales business year than revenue. VP give around so sure incremental/cost businesses that's commercial were we the our that they year, wanted a think I of guidance make this to lost actually sign serve. of good services April is And were kind last higher do our mentioned say that


to This session. to like closing I the back over Julia concludes Laulis would question-and-answer our remarks. for turn any call

Julie Laulis

Riley. we All, today. you, appreciate time Thank your

a Let few me leave thoughts. you closing with

keep Now, a strive as connected always, we are values. earn including matters, living to our to and promise and our families, their living. what their to ability customers children's education their We purpose,

to mission. We this committed are fully

efforts forward quarter. again for call, of fulfill close these appreciate during and each purpose and with everyone Thank speaking We for look you we to to associates want serve with I tireless to next times. their joining our customers our connectivity again thanking essential our you. uncertain today's us


now today's for you has concluded. attending conference The Thank presentation.

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