$CABO

Cable One, Inc.

CIK:0001632127|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 348,926	$ 381,072	$ 701,883	$ 761,673
Costs and Expenses:
Operating (excluding depreciation and amortization)	98,725	102,356	192,609	202,207
Selling, general and administrative	87,649	91,996	174,836	187,410
Depreciation and amortization	81,781	86,118	164,275	171,583
(Gain) loss on asset sales and disposals, net	7,973	3,908	10,759	8,104
Asset impairments	597,715	586,017	597,715	586,017
Total Costs and Expenses	873,843	870,395	1,140,194	1,155,321
Loss from operations	(524,917)	(489,323)	(438,311)	(393,648)
Interest expense, net	(33,737)	(33,905)	(64,006)	(68,368)
Other income (expense), net	(431,590)	(11,372)	(408,630)	(12,784)
Loss before income taxes and equity method investment income (loss), net	(990,244)	(534,600)	(910,947)	(474,800)
Income tax benefit	109,521	117,575	90,100	117,372
Loss before equity method investment income (loss), net	(880,723)	(417,025)	(820,847)	(357,428)
Equity method investment income (loss), net	(283,853)	(20,951)	(307,955)	(77,941)
Net loss	$ (1,164,576)	$ (437,976)	$ (1,128,802)	$ (435,369)
Net Loss per Common Share:
Basic (in dollars per share)	$ (204.35)	$ (77.70)	$ (198.30)	$ (77.26)
Diluted (in dollars per share)	$ (204.35)	$ (77.70)	$ (198.30)	$ (77.26)
Weighted Average Common Shares Outstanding:
Basic (in shares)	5,698,814	5,636,683	5,692,392	5,635,255
Diluted (in shares)	5,698,814	5,636,683	5,692,392	5,635,255
Unrealized gain (loss) on cash flow hedges and other, net of tax	$ 6,439	$ (10,108)	$ 10,515	$ (25,094)
Comprehensive loss	$ (1,158,137)	$ (448,084)	$ (1,118,287)	$ (460,463)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (1,128,802)	$ (435,369)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	164,275	171,583
Amortization of debt discount and issuance costs	4,541	4,728
Equity-based compensation	12,577	21,359
Gain on debt extinguishments	(29,694)	(3,856)
Change in deferred income taxes	(131,289)	(158,788)
(Gain) loss on asset sales and disposals, net	10,759	8,104
Gain on sale of fiber-to-the-tower contract rights	(27,638)	0
Equity method investment (income) loss, net	307,955	77,941
Fair value adjustments	465,548	19,946
Asset impairments	597,715	586,017
Changes in operating assets and liabilities:
Accounts receivable, net	1,107	216
Prepaid and other current assets	7,422	(12,603)
Accounts payable and accrued liabilities	(3,632)	(7,921)
Deferred revenue	(4,507)	(1,449)
Other	(7,260)	(8,634)
Net cash provided by operating activities	239,077	261,274
Cash flows from investing activities:
Capital expenditures	(142,426)	(139,504)
Change in accrued expenses related to capital expenditures	(3,963)	(2,273)
Proceeds from sales of property, plant and equipment	1,842	482
Proceeds from sales of equity investments	1,112	10,702
Proceeds from sale of fiber-to-the-tower contract rights	42,000	0
Net cash used in investing activities	(101,435)	(130,593)
Cash flows from financing activities:
Proceeds from long-term debt borrowings	575,000	0
Debt repayments	(698,250)	(111,902)
Payment of withholding tax for equity awards	(970)	(2,302)
Dividends paid to stockholders	0	(17,232)
Net cash used in financing activities	(124,220)	(131,436)
Change in cash and cash equivalents	13,422	(755)
Cash and cash equivalents, beginning of period	152,769	153,631
Cash and cash equivalents, end of period	166,191	152,876
Supplemental cash flow disclosures:
Cash paid for interest, net of capitalized interest	66,104	71,851
Cash paid for income taxes, net of refunds received	$ 15,222	$ 44,415

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 166,191	$ 152,769
Accounts receivable, net	55,565	58,578
Prepaid and other current assets	61,876	95,238
Total Current Assets	283,632	306,585
Equity investments	298,632	613,841
Property, plant and equipment, net	1,780,529	1,784,201
Intangible assets, net	1,407,500	1,974,359
Goodwill	769,111	840,826
Other noncurrent assets	83,408	68,541
Total Assets	4,622,812	5,588,353
Current Liabilities:
Accounts payable and accrued liabilities	135,643	143,058
MBI option liability	425,970	0
Deferred revenue	17,193	22,731
Current portion of long-term debt	18,060	593,535
Total Current Liabilities	596,866	759,324
Long-term debt	3,027,125	2,600,392
Deferred income taxes	642,257	769,924
Other noncurrent liabilities	30,179	25,075
Total Liabilities	4,296,427	4,154,715
Commitments and contingencies (refer to note 16)
Stockholders' Equity:
Preferred stock ($0.01 par value; 4,000,000 shares authorized; none issued or outstanding)	0	0
Common stock ($0.01 par value; 40,000,000 shares authorized; 6,175,399 shares issued; and 5,673,367 and 5,635,219 shares outstanding as of June 30, 2026 and December 31, 2025, respectively)	62	62
Additional paid-in capital	693,870	681,866
Retained earnings	205,751	1,334,553
Accumulated other comprehensive income (loss)	29,965	19,450
Treasury stock, at cost (502,032 and 540,180 shares held as of June 30, 2026 and December 31, 2025, respectively)	(603,263)	(602,293)
Total Stockholders' Equity	326,385	1,433,638
Total Liabilities and Stockholders' Equity	$ 4,622,812	$ 5,588,353