A Letter from Our CEO
Oct 20th, 2022
“Always bear in mind that your own resolution to success is more important than any other one thing.” – Abraham Lincoln
Today, Starry reported 3Q 2022 Operational Results (these are data points we pre-release before our traditional earnings release - you can find it here). In it, we report another industry-leading quarter of growth across our business, in the number of customers, size of our network, and expansion of our digital equity program, Starry Connect.
This is our third quarter in a row of reporting outstanding growth in our business and we’re deeply proud of these results. That success belies the enormous challenges in the broader economy. You may read in the news that today we took a series of steps to reduce our spending, including instituting a hiring freeze and significantly reducing our workforce, in an effort to conserve capital as we navigate these difficult economic times. And certain parties (we’re not naming names) may lead our customers and partners to believe that Starry is going away.
Let me be clear: Starry is open for business and laser-focused on continuing to serve our customers and drive our mission forward.
Like so many other companies, we are making the tough calls now, and taking steps that will allow us to focus on financing the business over the long-term and continue growing across our current markets.
We wanted to build technology that would meaningfully reduce the cost of connecting homes to high-quality, high-speed broadband, thus leveling the “playing field.” And by putting our customers at the heart of business, we would make home internet connectivity a delightful experience and more affordable and available to all. We believed that if we were successful, society would move forward in positive and meaningful ways.
People thought we were crazy to challenge the near-monopolies that have had a stranglehold on consumers and competition all across the US. It was a task that many felt was too difficult and a road that would be long and full of challenges at every turn.
But, throughout the pandemic and difficult macroeconomic conditions, we have persisted. Backed by a deep belief that if we build and operate our company with integrity and a laser-focus on serving our customers, partners and communities well, we will succeed.
More than 90,000 customers later and nearly six million US households under our network coverage, including more than 87,000 low-income Starry Connect households, by every measure, we have been successful in executing on our mission.
Our customers have been a big part of our success and your support has helped us advance broadband competition and choice in communities across the country. We thank you for that.
We are deeply proud of the company we have built and grateful for your continued support as a customer, partner and believer in our mission.
Thank you. Long Live #HappyInterneting.