Atn International, Inc. · NASDAQ:ATNI
Atn International — Q4 2024 Earnings Presentation
42 slides from Atn International's earnings presentation, Mar 5, 2025
Slide 1: Q4 and Year-end 2024 Earnings Call
Q4 and Year-end 2024 Earnings Call March 5, 2025 1
Slide 2: Safe Harbor and Non-GAAP Financial Measures Definition
Q4 FY 2024 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
Q4 FY 2024 A Message from ATN’s Leadership “2024 was a year of strategic execution and disciplined investment. As the telecom industry continues to evolve, our approach remains focused on long-term value creation, operational efficiency, and financial discipline.” - Brad Martin, Chief Executive Offi
Slide 4: Key Performance Indicators (Q4 FY 2024)
Key Performance Indicators (Q4 FY 2024) Strategy is Yielding YoY Increases Across Key Metrics & Favorable Mix Shifts Fiber Network High-Speed Data Mobile Network ~426k ~389k High-Speed Data International Mobile Broadband Homes Passed Subscribers +16% YOY -5% YOY >11,900 ~141k ~60k ~329k Fiber High-S
Slide 5: Financial Highlights and Drivers
Financial Highlights and Drivers Q4 Total Revenue and Adjusted EBITDA1 International Telecom Flat Revenue and 5% Adj. EBITDA1 Revenue flat year-over year Q4 ‘24 Revenue Q4 ‘24 Adj. EBITDA1 Adj. EBITDA grew 5% benefiting from previous restructuring actions Demand for high-speed broadband servic
Slide 6: Financial Summary: Total Revenue and Adjusted EBITDA
Financial Summary Total Revenue and Adjusted EBITDA1 Q4 Q4 FY 2024 FY 2024 Revenue Adjusted EBITDA1 Revenue Adjusted EBITDA1 -4% -3% -9% $189 $184 -9% $51 $762 $199 $729 $46 $181 Q4 2023 Q4 2024 Q4 2023 Q4 2024 FY 2023 FY 2024 FY 2023 FY 2024 (Figures shown in millions) 1. See Table 5 for reconcilia
Slide 7: US Telecom and International Telecom Segment Financials
US Telecom and International Telecom Segment Financials Q4 2024 Revenue & Adjusted EBITDA1 US Telecom International Telecom Revenue Adjusted EBITDA1 Revenue Adjusted EBITDA1 Flat +5% -29% -18% $27 $95 $95 $32 $31 $105 $20 $86 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 (Figures s
Slide 8: 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 $25M $91M $190M Undrawn Revolver Q4 ‘24 CapEx Cash Position Capacity2 $110M $557M Net Debt Ratio - 2.54x FY
Slide 9: Full Year 2025 Outlook
Full Year 2025 Outlook Revenue In line with 2024 Revenue Adjusted EBITDA* Flat with 2024 Adjusted EBITDA Capital Expenditures $90M to $100M (net of reimbursements) Remain flat with slight potential improvement exiting Net Debt Ratio* 2025 compared with 2024 *For the Company’s full year 2025 outlook
Slide 10: 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 enterprise and carrier customer revenues, 2 strengthen
Slide 11: About ATN International
About ATN International 11
Slide 12: Our Mission
Our Mission To digitally empower people and communities so that they can connect with the world and prosper 12
Slide 13: ATN At-a-Glance
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 14: 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 15: 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 16: Strong Core Capabilities
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 17: Our Investment Strategy
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 in 2024 $160 $163 – final year of 3-year investment cycle $110 $90 to Continuing to focus on monetizing $100* l upgraded network a
Slide 18: Balance Sheet Highlights
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 $190M capacity • Share repurchases 2.38x 2.54x 2.10x 2.3x to Cash & $93M 2.6x equivale
Slide 19: 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 20: Q4 2024 and Full Year 2024 Operating Results
Q4 2024 and Full Year 2024 Operating Results (in Thousands) For Three Months Ended December 31, 2024 and 2023 2024 2023 2024 2023 2024 2023 2024 2023 International International US US Corporate and Corporate and Total Total Telecom Telecom Telecom Telecom Other* Other* ATN ATN Total Revenue: $ 94,76
Slide 21: Q4 2024 Operating Metrics
Q4 2024 Operating Metrics Operating Metrics 2024 2024 2024 2024 2023 Q4 2024 Q4 Q3 Q2 Q1 Q4 vs. Q4 2023 High-Speed Data* Broadband Homes Passed 426,100 399,500 396,100 386,300 367,200 16% High-Speed Data* Broadband Customers 140,800 141,100 140,600 138,900 137,300 3% Broadband Homes Passed 800,900 7
Slide 22: Q4 and Full Year 2024 Financial Tables
Q4 and Full Year 2024 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) December 31, December 31, Three Month
Slide 23: Q4 and Full Year 2024 Financial Tables (Cont.)
Q4 and Full Year 2024 Financial Tables (Cont.) Table 3 ATN International, Inc. Table 4 Unaudited Condensed Consolidated Cash Flow Statements ATN International, Inc. (in Thousands) Selected Segment Financial Information (In Thousands) Year Ended December 31, 2024 2023 For the three months ended Decem
Slide 24: Q4 and Full Year 2024 Financial Tables (Cont.)
Q4 and Full Year 2024 Financial Tables (Cont.) Table 4 (continued) Table 4 (continued) ATN International, Inc. ATN International, Inc. Selected Segment Financial Information Selected Segment Financial Information (In Thousands) (In Thousands) For the three months ended Decemb er 31, 2023 is as follo
Slide 25: Q4 and Full Year 2024 Financial Tables (Cont.)
Q4 and Full Year 2024 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 year ended Decemb er 31, 2023 is as follows: (In Thousands) International Corpo
Slide 26: Q4 and Full Year 2024 Financial Tables (Cont.)
Q4 and Full Year 2024 Financial Tables (Cont.) Table 6 Table 5 (continued) ATN International, Inc. ATN International, Inc. Reconciliation of Non-GAAP Measures Non GAAP Measure - Net Debt Ratio (in Thousands) (In Thousands) For the year ended Decemb er 31, 2024 is as follows: December 31, December 31
Slide 27: 2023 and 2022 Financial Tables
2023 and 2022 Financial Tables For Three Months Ended December 31, 2023 and 2022 2023 2022 2023 2022 2023 2022 2023 2022 International International US US Corporate and Corporate and Total Total Telecom Telecom Telecom Telecom Other* Other* ATN ATN Total Revenue: $ 94,467 $ 90,384 $ 104,499 $ 101,63
Slide 28: 2023 and 2022 Financial Tables (Cont.)
2023 and 2022 Financial Tables (Cont.) Operating Metrics 2023 2023 2023 2023 2022 Q4 2023 Q4 Q3 Q2 Q1 Q4 vs. Q4 2022 Broadband Homes Passed 768,900 746,600 746,800 736,300 728,900 5% Broadband Homes Passed by HSD* 367,200 333,500 331,000 301,600 275,100 33% Broadband Customers 214,400 213,900 215,50
Slide 29: 2023 and 2022 Financial Tables (Cont.)
2023 and 2022 Financial Tables (Cont.) Table 2 Table 1 ATN International, Inc. ATN International, Inc. Unaudited Condensed Consolidated Statem ents of Operations Unaudited Condensed Consolidated Balance Sheets (in Thousands, Except per Share Data) (in Thousands) Three Months Ended, Year Ended, Decem
Slide 30: 2023 and 2022 Financial Tables (Cont.)
2023 and 2022 Financial Tables (Cont.) Table 4 Table 3 ATN International, Inc. ATN International, Inc. Unaudited Condensed Consolidated Cash Flow Statements Selected Segment Financial Information (in Thousands) (In Thousands) For the three months ended Decemb er 31, 2023 is as follows: Year Ended De
Slide 31: 2023 and 2022 Financial Tables (Cont.)
2023 and 2022 Financial Tables (Cont.) Table 4 (continued) Table 4 (continued) ATN International, Inc. ATN International, Inc. Selected Segment Financial Information Selected Segment Financial Information (In Thousands) (In Thousands) For the year ended Decemb er 31, 2023 is as follows: For the thre
Slide 32: 2023 and 2022 Financial Tables (Cont.)
2023 and 2022 Financial Tables (Cont.) Table 4 (continued) ATN International, Inc. Selected Segment Financial Information Table 5 (In Thousands) ATN International, Inc. For the year ended Decemb er 31, 2022 is as follows: Reconciliation of Non-GAAP Measures (In Thousands) International Corporate and
Slide 33: 2023 and 2022 Financial Tables (Cont.)
2023 and 2022 Financial Tables (Cont.) Table 5 (continued) Table 6 ATN International, Inc. ATN International, Inc. Reconciliation of Non-GAAP Measures Non GAAP Measure - Net Debt Ratio (In Thousands) (in Thousands) For the year ended Decemb er 31, 2023 is as follows: International Corporate and Tele
Slide 34: 2022 and 2021 Financial Tables
2022 and 2021 Financial Tables For Three Months Ended December 31, 2022 and 2021 2022 2021 2022 2021 2022 2021 2022 2021 International International US US Total Total Telecom Telecom Telecom Telecom All Other* All Other* ATN ATN Revenue $ 90,384 $ 87,518 $ 101,631 $ 100,053 $ - $ - $ 192,015 $ 187,5
Slide 35: 2022 and 2021 Financial Tables (Cont.)
2022 and 2021 Financial Tables (Cont.) 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) Three Months Ended Year Ended Decembe
Slide 36: 2022 and 2021 Financial Tables (Cont.)
2022 and 2021 Financial Tables (Cont.) Table 3 ATN International, Inc. Unaudited Condensed Consolidated Cash Flow Statements (in Thousands) Year Ended December 31, 2022 2021 Net Loss $ (7,583) $ (20,809) Depreciation 135,137 102,731 Amortization of intangibles from acquisitions 13,016 7,775 Provisio
Slide 37: 2022 and 2021 Financial Tables (Cont.)
2022 and 2021 Financial Tables (Cont.) Table 4 ATN International, Inc. Selected Segment Financial Information ATN International, Inc. (In Thousands) Selected Segment Financial Information For the three months ended Decemb er 31, 2022 is as follows: (In Thousands) For the three months ended Decemb er
Slide 38: 2022 and 2021 Financial Tables (Cont.)
2022 and 2021 Financial Tables (Cont.) ATN International, Inc. Selected Segment Financial Information ATN International, Inc. (In Thousands) Selected Segment Financial Information (In Thousands) For the year ended Decemb er 31, 2021 is as follows: For the year ended Decemb er 31, 2022 is as follows:
Slide 39: 2022 and 2021 Financial Tables (Cont.)
2022 and 2021 Financial Tables (Cont.) ATN International, Inc. ATN International, Inc. Selected Segment Financial Information Selected Segment Operational Information (In Thousands) at Decemb er 31, 2021 As of As of As of As of As of December 31, March 31, June 30, September 30, December 31, Interna
Slide 40: 2022 and 2021 Financial Tables (Cont.)
2022 and 2021 Financial Tables (Cont.) Table 5 ATN International, Inc. For the year ended Decemb er 31, 2022 is as follows: Reconciliation of Non-GAAP Measures (In Thousands) International Renewable Corporate and For the three months ended Decemb er 31, 2022 is as follows: Telecom US Telecom Energy
Slide 41: 2022 and 2021 Financial Tables (Cont.)
2022 and 2021 Financial Tables (Cont.) Table 6 ATN International, Inc. Non GAAP Measure - Net Debt Ratio (in Thousands, Except per Share Data) December 31, December 31, 2022 2021 Current portion of long-term debt * $ 6,172 $ 4,665 Long-term debt, net of current portion * 415,727 327,111 Total debt $
Slide 42: IR Website and Email
IR Website: ir.atni.com IR Email: ir@atni.com 42