ATN International (ATNI) investor relations material

Executive summary

• Q2 2025 revenue was $181.3M, down 1% year-over-year, with a net loss of $7.0M and operating income dropping to $0.2M, mainly due to lower fixed and mobility revenues and higher restructuring costs.

• Adjusted EBITDA decreased 6% year-over-year to $45.8M, reflecting cost containment and restructuring expenses.

• Cash from operations for the first half of 2025 rose 2% to $59.8M, with a cash balance of $113.3M and total debt of $583.4M at quarter end.

• Board approved a 15% increase in quarterly dividend to $0.275 per share, signaling confidence in cash flow and shareholder value.

• Strategic focus remains on fiber expansion, operational efficiency, and disciplined capital allocation in underserved markets.

Financial highlights

• Q2 2025 total revenue was $181.3M, down 1% year-over-year; net loss was $7.0M ($0.56/share) versus net income of $9.0M last year.

• Adjusted EBITDA was $45.8M, down 6% year-over-year, mainly due to lower US telecom revenues.

• Operating income dropped to $0.2M from $24.3M last year, with prior year including a $15.9M asset disposition gain.

• Operating expenses rose 13.9% year-over-year, mainly due to restructuring costs and a swing from a $15.9M gain to a $2.7M loss on asset dispositions.

• Net cash from operations for the first half rose 2% year-over-year to $59.8M; cash balance at quarter end was $113.3M.

Outlook and guidance

• 2025 revenue (excluding construction) expected to be in line with 2024 at $725M; adjusted EBITDA projected flat at $184M.

• Net capital expenditures for 2025 guided between $90M and $100M, down from $110.3M in 2024.

• Net debt ratio expected to remain flat or slightly improve by year-end from 2.54x at 2024 year-end.

• Second half of 2025 anticipated to contribute a larger share of full-year results.

• Management anticipates continued cost reduction initiatives but notes potential inflationary pressures on expenses.