Cable One, Inc., through its various subsidiaries, delivers a full spectrum of data, video, and voice communication services across the United States. ...
Cable One, Inc. is a prominent broadband communications provider headquartered in Phoenix, Arizona, with a rich history dating back to its founding in 1986. The company delivers a comprehensive suite of services including high-speed internet, video entertainment, and voice communications to both residential and business customers. For households, Cable One ...Cable One, Inc. is a prominent broadband communications provider headquartered in Phoenix, Arizona, with a rich history dating back to its founding in 1986. The company delivers a comprehensive suite of services including high-speed internet, video entertainment, and voice communications to both residential and business customers. For households, Cable One offers internet solutions with enhanced Wi-Fi capabilities, a wide array of video programming from local and national networks, and premium channels featuring movies, sports, and original series. Advanced video services like whole-home DVR and TV Everywhere allow subscribers to enjoy content across multiple devices. Voice services include essential calling features and international options. For businesses, Cable One provides tailored data, video, and voice packages, serving small to large enterprises, as well as wholesale and carrier clients. As of 2021, the company served approximately 1.2 million customers across 24 states under its Sparklight, Fidelity, and Clearwave brands. In 2019, Cable One announced a rebranding to Sparklight to unify its consumer-facing identity. The company operates in the telecommunications services sector and is listed on the New York Stock Exchange under the ticker CABO. With a focus on smaller and mid-sized communities, Cable One aims to deliver exceptional service and reliable connectivity. Financially, the company has shown fluctuating performance, with a market cap around $202 million as of the latest data. Key financial metrics indicate challenges, including negative profit margins and return on equity, but the company continues to invest in its infrastructure and services. Led by CEO Jim Holanda, who brings over 35 years of industry experience, Cable One remains committed to connecting customers and communities to what matters most. The company employs approximately 2,592 full-time employees and continues to evolve its offerings to meet the changing needs of its customers.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$1.5B
-4.9%
-1.1%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-356.5M
-2561.7%
-3355.4%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+51.3%
-30.3%
+43.3%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+26.5%
-5.3%
-683.3%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-23.7%
-2689.8%
-3393.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$274.4M
-27.4%
-15.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+18.3%
-23.6%
-15.0%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
222.8%
+11.2%
+344.3%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.40x
-69.1%
-72.9%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Thank you for joining us, and welcome to the Cable One second quarter Q2 earnings release. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Jordan Morkert, Vice President of Investor Relations. Jordan, please go ahead.
Jordan Morkert: Good afternoon, welcome to Cable One second quarter 2026 earnings call. We're glad to have you join us as we review our results. Before we proceed, I would like to remind you that today's discussion contains forward-looking statements relating to future events that involve risks and uncertainties, including statements regarding future revenue, customer growth, connects, churn rates, and ARPU, the future competitive structure of our markets, the long-term penetration opportunity in our markets, the anticipated benefits of our mobile service offering, new product rollouts, future customer retention trends, anticipated cost savings, and other benefits to be derived from our billing system migration and our other investments in growth enablement platforms. Our plans to expand our multi-gig capabilities in more markets, future cash flow and capital expenditures, potential uses for our cash flow, the MBI transaction, including the purchase price, MBI's future debt levels and other related matters, future tax savings, our expectations for monetizing our remaining equity investments, and our future financial performance, capital allocation policy, leverage ratios and related targets, and our potential financing plans. You can find factors that could cause Cable One's actual results to differ materially from the forward-looking statements discussed during today's call in today's earnings release and in our SEC filings, including our 2025 annual report on Form 10-K and our forthcoming second quarter 2026 quarterly report on Form 10-Q. Cable One is under no obligation and expressly disclaims any obligation except as required by law to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise. Today's remarks will include a discussion of certain financial measures that are not presented in conformity with the U.S. generally accepted accounting principles, or GAAP. When we refer to free cash flow during today's call, we mean adjusted EBITDA less capital expenditures as defined in our earnings release. Reconciliations of non-GAAP financial measures discussed on this call to the most directly comparable GAAP measures can be found in our earnings release or on our website at ir.cableone.net. Joining me on today's call is our CEO, Jim Holanda, and CFO Todd Koetje. With that, I'll turn the call over to Jim.
Jim Holanda: Thank you, Jordan, and good afternoon, everyone. We appreciate you joining us today. Last quarter, I spoke about taking the time to listen, learn, and …
