Cable One reported a third-quarter net loss of $431.8 million, driven by $412.05 million in non-cash asset impairment charges related to goodwill and franchise agreements triggered by a decline in stock price. Total revenues fell 11.7% year-over-year to $332.2 million as residential data and video subscriber declines weighed on results. Adjusted EBITDA decreased 20.8% to $159.8 million, while net cash from operating activities dropped to $92.6 million. The company holds $674.8 million in cash against $3.55 billion in gross debt and is engaged in discussions to raise capital and address near-term maturities. Cable One operates as a broadband communications provider delivering residential and business services across 24 states.
