ATN International(ATNI) - 2025 Q1 - Quarterly Report

Financial Performance - Total revenue for the three months ended March 31, 2025, was $179.294 million, a decrease of 4.0$186.794 million in the same period of 2024[14]. - Communication services revenue decreased to $174.031 million from$181.268 million, reflecting a decline of 4.0% year-over-year[14]. - Net loss attributable to ATN International, Inc. stockholders for Q1 2025 was $8.928 million, compared to a net loss of$6.315 million in Q1 2024, representing an increase in loss of 41.5%[14]. - Basic and diluted net loss per share for Q1 2025 was $(0.69), compared to$(0.50) in Q1 2024, indicating a worsening in per-share performance[14]. - The company reported comprehensive loss attributable to ATN International, Inc. of $8.497 million for Q1 2025, compared to$4.883 million in Q1 2024, indicating a significant increase in comprehensive loss[17]. - For the three months ended March 31, 2025, the company reported a net loss of $11,387,000, compared to a net loss of$7,948,000 for the same period in 2024, indicating a year-over-year increase in losses of approximately 43%[22]. - The company reported a total comprehensive loss of $10,956,000 for the three months ended March 31, 2025, compared to a total comprehensive loss of$6,516,000 for the same period in 2024, indicating a 68.0% increase in losses[22]. - The effective tax rate for the three months ended March 31, 2025 was 1.7%, a significant improvement from the effective tax rate of (25.6%) for the same period in 2024[137][138]. Assets and Liabilities - Total current assets decreased slightly to $305.707 million as of March 31, 2025, from$309.161 million at December 31, 2024[12]. - Total liabilities decreased to $1,049.174 million as of March 31, 2025, from$1,055.349 million at December 31, 2024[12]. - Cash and cash equivalents increased to $83.452 million as of March 31, 2025, compared to$73.393 million at December 31, 2024, showing a growth of 13.9%[12]. - Total assets as of March 31, 2025, were $1,707,449 million, compared to$1,727,103 million at the end of 2024, showing a decrease of approximately 1.1%[157]. - Total debt, including current portion, was $562,384 million as of March 31, 2025, slightly up from$557,356 million at the end of 2024[157]. Cash Flow and Expenditures - The company generated net cash provided by operating activities of $35,905,000 for the three months ended March 31, 2025, compared to$23,176,000 for the same period in 2024, reflecting a year-over-year increase of approximately 55%[22]. - Capital expenditures for the three months ended March 31, 2025, were $20,832,000, a decrease from$36,016,000 in the same period of 2024, indicating a reduction of approximately 42%[22]. - The company declared dividends of $3,652,000 on common stock for the three months ended March 31, 2025, compared to$3,720,000 in the same period of 2024, showing a slight decrease of about 2%[22]. Strategic Focus and Investments - The company continues to focus on strategic investment plans and expansion of its customer base, despite facing challenges in operating margins and subscriber growth[8]. - The company is actively evaluating investment opportunities and strategic transactions to enhance its telecommunications business and generate excess operating cash flows[24]. - The company is focused on expanding its digital infrastructure and communications services in rural and remote markets in the U.S. and internationally, including Bermuda and the Caribbean[23]. Revenue Recognition and Performance Obligations - Revenue recognized under ASC 606 for services transferred over time was $158.221 million for Q1 2025, up from$166.603 million in Q1 2024, indicating a decline of about 5.0%[40]. - Remaining performance obligations totaled $595 million as of March 31, 2025, with approximately 43$18.3 million in revenue related to contract liabilities during the three months ended March 31, 2025[45]. - Government support revenue for the three months ended March 31, 2025, was $12.672 million, compared to$11.780 million for the same period in 2024, showing an increase of approximately 7.5%[40]. Operational Segments - Operating income for the International Telecom segment was $14.750 million for the three months ended March 31, 2025, while the US Telecom segment reported an operating loss of$2.415 million[154]. - The company’s operating segments include US Telecom and International Telecom, focusing on providing digital infrastructure and communication services in rural and remote markets[23][26].