Page 1

Cable One ™ Exhibit 99.1 Cable One Reports Second Quarter 2021 Results August 9 , 2021 - PHOENIX – ( BUSINESS WIRE ) – Cable One , Inc. ( NYSE : CABO ) ( the “ Company ” or “ Cable One " ) today reported financial and operating results for the quarter ended June 30 , 2021 . Cable One completed the acquisition of Valu - Net LLC ( " Valu - Net " ) on July 1 , 2020 , the contribution of its Anniston , Alabama system ( the " Anniston System " ) to Hargray Communications , a data , video and voice services provider ( " Hargray ” ) , on October 1 , 2020 ( the " Anniston Exchange " ) , and the acquisition of the remaining equity interests in Hargray that it did not already own ( the " Hargray Acquisition " ) on May 3 , 2021. The results discussed below and presented in the tables within this press release include Valu - Net and Hargray operations and exclude Anniston System operations for the periods since the completion of their respective acquisitions or disposition . The Anniston System was included in the Hargray Acquisition and its operations are included in the Company's results with the Hargray operations . Second Quarter 2021 Highlights : Total revenues were $ 401.7 million in the second quarter of 2021 , including $ 50.6 million from Hargray operations , compared to $ 328.3 million in the second quarter of 2020 , an increase of 22.4 % . Year - over - year , residential data revenues increased 26.6 % , including $ 18.0 million from Hargray operations , and business services revenues increased 31.0 % , including $ 14.9 million from Hargray operations . Net income was $ 106.2 million in the second quarter of 2021 ( including $ 4.4 million from Hargray operations ) , an increase of 69.7 % year - over - year . Adjusted EBITDA ( 1 ) was $ 213.2 million in the second quarter of 2021 ( including $ 22.3 million from Hargray operations ) , an increase of 30.7 % year - over - year . Net profit margin was 26.4 % and Adjusted EBITDA margin ( 1 ) was 53.1 % . Net cash provided by operating activities was $ 183.6 million in the second quarter of 2021 , an increase of 19.5 % year - over - year . Adjusted EBITDA less capital expenditures ( 1 ) was $ 123.9 million in the second quarter of 2021 ( including $ 3.8 million from Hargray operations ) , an increase of $ 39.4 million , or 46.6 % , compared to the second quarter of 2020 . Residential data primary service units ( " PSUs " ) grew by approximately 124,000 , or 15.5 % , sequentially and grew by approximately 165,000 , or 21.7 % , year - over - year . Approximately 110,000 residential data PSUs were acquired in the Hargray Acquisition , of which approximately 19,000 were contributed to Hargray in the Anniston Exchange . Business services PSUs grew by approximately 23,000 , or 17.8 % , sequentially and grew by approximately 23,000 , or 18.0 % , compared to the prior year . Approximately 20,000 business services PSUs were acquired in the Hargray Acquisition , of which approximately 4,000 were contributed to Hargray in the Anniston Exchange . On May 3 , 2021 , the Company completed the Hargray Acquisition , which represented the purchase of approximately 85 % of Hargray on a fully diluted basis . The approximately $ 2.0 billion cash purchase price implied a $ 2.2 billion total enterprise value for 100 % of Hargray on a cash - free and debt - free basis . The Company financed the Hargray Acquisition with cash on hand and proceeds from indebtedness . ( 1 ) Adjusted EBITDA , Adjusted EBITDA margin and Adjusted EBITDA less capital expenditures are defined in the section of this press release entitled " Use of Non GAAP Financial Measures . " Adjusted EBITDA and Adjusted EBITDA less capital expenditures are reconciled to net income , Adjusted EBITDA margin is reconciled to net profit margin and Adjusted EBITDA less capital expenditures is also reconciled to net cash provided by operating activities . Refer to the " Reconciliations of Non GAAP Measures " tables within this press release . Second Quarter 2021 Financial Results Compared to Second Quarter 2020 Revenues increased $ 73.4 million , or 22.4 % , to $ 401.7 million for the second quarter of 2021 , including $ 50.6 million attributable to Hargray operations . The remaining increase was driven primarily by residential data , business services and other revenue growth , partially offset by decreases in residential video and residential voice revenues . For the second quarter of 2021 and 2020 , residential data revenues comprised 51.7 % and 50.0 % of total revenues , respectively , and business services revenues comprised 19.1 % and 17.8 % of total revenues , respectively .