Atn International, Inc. · NASDAQ:ATNI
Atn International — Q1 2025 Earnings Presentation
25 slides from Atn International's earnings presentation, May 1, 2025
Slide 1: First Quarter 2025 Earnings Call
First Quarter 2025 Earnings Call May 1, 2025 1
Slide 2: Safe Harbor and Non-GAAP Financial Measures Definition
Q1 FY 2025 Safe Harbor and Non-GAAP Financial Measures Definition Cautionary Language Concerning Forward-Looking Statements This presentation contains forward-looking statements relating to, among other matters, the Company’s future financial performance, business goals and objectives, and results o
Slide 3: A Message from ATN's Leadership
Q1 FY 2025 A Message from ATN’s Leadership “Our first quarter results reflect steady operational execution as we continue navigating a dynamic industry landscape. As we move forward, we remain focused on monetizing the investments made during our recent three-year strategic cycle supported by ongoin
Slide 4: Strategy Driving YoY Gains Across Most Key Metrics
Key Performance Indicators (Q1 FY 2025) Strategy Driving YoY Gains Across Most Key Metrics & Favorable Mix Fiber Network High-Speed Data Mobile Network ~427k ~392k High-Speed Data International Mobile Broadband Homes Passed Subscribers +11% YOY -3% YOY >11,900 ~141k ~60k ~332k Fiber High-Speed Data
Slide 5: Q1 Total Revenue and Adjusted EBITDA
Financial Highlights and Drivers Q1 Total Revenue and Adjusted EBITDA1 International Telecom +2% Revenue and +11% Adj. EBITDA1 Q1 ‘25 Revenue Q1 ‘25 Adj. EBITDA1 Revenue up 2% from prior year period Adj. EBITDA grew 11% benefiting from cost containment efforts and operational improvements 35% $1
Slide 6: Q1 2025 Revenue & Adjusted EBITDA
International Telecom and US Telecom Segment Financials Q1 2025 Revenue & Adjusted EBITDA1 International Telecom US Telecom Revenue Adjusted EBITDA1 Revenue Adjusted EBITDA1 +2% +11% -15% $93 $94 -10% $32 $29 $21 $94 $85 $18 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 (Figures sh
Slide 7: Strong Balance Sheet Supports Capital Allocation Priorities
Balance Sheet Update Strong Balance Sheet Supports Capital Allocation Priorities We are well-capitalized and committed to reducing Capex, managing debt levels and expanding operating cash flow $97M $195M Undrawn Revolver $21M Cash Position Capacity2 Q1 ‘25 CapEx $562M Net Debt Ratio – 2.52x Debt Pos
Slide 8: 2025 Strategic Priorities
Key Tenants of ATN’s Plan 2025 Strategic Priorities International: Continue to convert high-value business opportunities leveraging 1 expanded & upgraded network, localized operations & trusted relationships Domestic: Refocus efforts on growing business and carrier customer revenues, 2 strengthen op
Slide 9: Reaffirms Full Year 2025 Outlook
Reaffirms Full Year 2025 Outlook Revenue (excluding In line with 2024 Revenue of $725M construction revenue) Adjusted EBITDA* Flat with 2024 Adjusted EBITDA of $184M Capital Expenditures $90M to $100M (net of reimbursements) Remain flat with slight potential improvement exiting Net Debt Ratio* 2025
Slide 10: About ATN International
About ATN International 10
Slide 11: Our Mission
Our Mission To digitally empower people and communities so that they can connect with the world and prosper 11
Slide 12: Leading Provider of Critical Communications Infrastructure & Services
ATN At-a-Glance Leading Provider of Critical Communications Infrastructure & Services in Rural and Remote Markets $729M $184M 2,300 ~31% 35+ y e a r s FY24 FY24 Adjusted Employees Insider Operating Revenue EBITDA1 Ownership Experience 52% I n t e r n a t i o n a l 48% D o m e s t i c Mobility Bermud
Slide 13: International Telecom Segment At-a-Glance
International Telecom Segment At-a-Glance Serving Bermuda, the Cayman Islands, Guyana and the US Virgin Islands Revenue Trends Revenue Trends Revenue By Product Offerings Mobility $356 $371 $377 Mobility $343 Consumer & Business Broadband Fixed Wireline Voice and Video $377M Carrier Services 2
Slide 14: US Telecom Segment At-a-Glance
US Telecom Segment At-a-Glance Serving Alaska and Southwestern United States Revenue Trends Revenue Trends Revenue By Product Offerings $391 Wholesale & FTT Backhaul $370 $352 Mobility Consumer & Enterprise Broadband $259 Fixed Carrier Managed Service $352M Carrier Services 2024 Revenue Strate
Slide 15: Driving Sustainable Competitive Advantages
Strong Core Capabilities Driving Sustainable Competitive Advantages Targeting Underbuilt Deeply Localized Aligned with Market Segments Operations Growth Trends Focus on market segments Strong local management • Global digital transformation with high unmet demand enhances close relationships • Growi
Slide 16: Using a Combination of Capex and Grants to Support Growth
Our Investment Strategy Using a Combination of Capex and Grants to Support Growth Strategic Capex Our Approach: 3-year investment cycle Scaled back capex investments due to $160 $163 completion of 3-year investment cycle in $110 $90 to 2024 $100* l Continuing to focus on monetizing ~ 10% to upgr
Slide 17: Balance Sheet Provides Flexibility to Execute our Strategy
Balance Sheet Highlights Balance Sheet Provides Flexibility to Execute our Strategy Liquidity Net Debt Leverage Ratio Uses of Capital • Capital investments • Paying down debt Undrawn • Supporting dividend revolver capacity $195M • Share repurchases 2.40x 2.54x 2.52x 2.10x 2.3x to Cash & 2.6x equival
Slide 18: Committed to a Balanced Approach to Capital Allocation
Capital Allocation Committed to a Balanced Approach to Capital Allocation 1 2 3 Strategic De-Lever the Return Capital Capex Spending Balance Sheet To Shareholders • Focused on investments • Objective to return to ~2.0x • Since the start of 2022, resulting in recurring cash flows net debt leverage ov
Slide 19: Appendix
ATN international Appendix
Slide 20: Q1 2025 Operating Results (in Thousands)
Q1 2025 Operating Results (in Thousands) For Three Months Ended March 31, 2025 and 2024 2025 2024 2025 2024 2025 2024 2025 2024 International International US US Corporate and Corporate and Total Total Telecom Telecom Telecom Telecom Other* Other* ATN ATN Total Revenue: $ 94,496 $ 93,059 $ 84,798 $
Slide 21: Q1 2025 Operating Metrics
Q1 2025 Operating Metrics Operating Metrics 2025 2024 2024 2024 2024 Q1 2025 Q1 Q4 Q3 Q2 Q1 vs. Q1 2024 High-Speed Data* Broadband Homes Passed 427,300 426,100 399,500 396,100 386,300 11% High-Speed Data* Broadband Customers 141,300 140,800 141,100 140,600 138,900 2% Broadband Homes Passed 801,500 8
Slide 22: Q1 2025 Financial Tables
Q1 2025 Financial Tables Table 1 Table 2 ATN International, Inc. ATN International, Inc. Unaudited Condensed Consolidated Balance Sheets Unaudited Condensed Consolidated Statem ents of Operations (in Thousands) (in Thousands, Except per Share Data) March 31, December 31, Three Months Ended, 2025 202
Slide 23: Q1 2025 Financial Tables (Cont.)
Q1 2025 Financial Tables (Cont.) Table 3 Table 4 ATN International, Inc. ATN International, Inc. Unaudited Condensed Consolidated Cash Flow Statements Selected Segment Financial Information (in Thousands) (In Thousands) Three Months Ended March 31, For the three months ended March 31, 2025 is as fol
Slide 24: Q1 2025 Financial Tables (Cont.)
Q1 2025 Financial Tables (Cont.) Table 4 (continued) ATN International, Inc. Table 5 Selected Segment Financial Information ATN International, Inc. (In Thousands) Reconciliation of Non-GAAP Measures For the three months ended March 31, 2024 is as follows: (In Thousands) International Corporate and F
Slide 25: Q1 2025 Financial Tables (Cont.)
Q1 2025 Financial Tables (Cont.) Table 6 ATN International, Inc. Non GAAP Measure - Net Debt Ratio (in Thousands) March 31, December 31, 2025 2024 Current portion of long-term debt * $ 8,226 $ 8,226 Long-term debt, net of current portion * 554,158 549,130 Total debt $ 562,384 $ 557,356 Less: Cash, c