Cable One Inc

cableone.biz

What Do They Do?

Provides broadband internet, video and voice services over fiber-based networks to residential and business customers.

How Do They Make Money?

Residential and business customers pay for individual or bundled data, video and voice subscriptions, billed in advance. Residential subscriptions are generally month-to-month; business service is sold under contracts.

revenue

Segment	Share	How money arrives
Data Recurring	60% FY2022: 55%	Recurring
Video Recurring	12% FY2022: 19%	Recurring
Voice Recurring	1.8% FY2022: 2.5%	Recurring
Data Recurring	15% FY2022: 12%	Recurring
Other	4.2% FY2022: 5.7%
Other	6.2% FY2022: 5.7%

Who Are Their Customers?

Residential and business customers subscribe to data, video and voice, either separately or in bundles. Business customers include enterprise and wholesale buyers.

Do Revenues Turn Into Profits?

Not on paper. It lost $356.5M in FY2025, but brought in more cash than it spent: $278.1M of free cash flow.

Operating income, FY2025

−14% of revenue

▼ Now a loss vs FY2024 ($441.9M, 28%)

Net income, FY2025

−24% of revenue

▼ Now a loss vs FY2024 ($14.5M, 1%)

Free cash flow, FY2025

19% of revenue

▼ −26% vs FY2024 ($377.8M, 24%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −8%; vs $381.1M in Q2 FY2025
Net income: ▲ +166% (Loss); vs −$438M in Q2 FY2025

Data share of revenue vs 60.2% in Q2 FY2025

Broader customer reach The earlier report describes focusing on customers likely to bring higher relative value; the latest also describes targeting a broader range of new customers, including those who are more value-conscious.

Revenue over time

Data Video Voice Data Other Other Business services Franchise and other regulatory fees

$2B$1B$0

FY2021 FY2022 FY2023 FY2024 FY2025

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