ATN Reports Third Quarter 2025 Results

Third Quarter 2025 vs. Third Quarter 2024 Financial Highlights Expanded high-speed broadband homes passed by 8%Grew total high-speed subscribers by 1%Third quarter revenues increased 3% to $183.2 millionThird quarter operating income increased to $9.8 millionThird quarter net income was $4.3 million, or $0.18 per diluted shareThird quarter Adjusted EBITDA1 increased 9% to $49.9 millionNet cash provided by operating activities for the year-to-date period was $97.7 millionCapital expenditures for the year-to-date period were $60.9 million (net of $67.3 million reimbursable expenditures)Net Debt Ratio3 was 2.47x on September 30, 2025 Refines 2025 Adjusted EBITDA Outlook, and Reaffirms Revenue, Capital Expenditure, and Net Debt Ratio Expectations Revenue, excluding construction revenue, is expected to be in line with last year’s result of $725 millionAdjusted EBITDA2 is expected to be flat to slightly above last year’s result of $184 million (previously guided to be flat with 2024)Capital expenditures are expected to be in the range of $90 to $100 million (net of reimbursable expenditures)Net Debt Ratio4 is expected to remain flat with full year 2024 at approximately 2.54x, with potential for slight improvement exiting 2025 Earnings Conference CallThursday, November 6, 2025, at 10:00 a.m. ET; web participant link: https://edge.media-server.com/mmc/p/fzhn433w BEVERLY, Mass., Nov. 05, 2025 (GLOBE NEWSWIRE) -- ATN International, Inc. (“ATN” or the “Company”) (Nasdaq: ATNI), a leading provider of digital infrastructure and communications services, today reported financial results for the third quarter ended September 30, 2025. Remarks by Brad Martin, ATN Chief Executive Officer"Our third quarter results were in line with our expectations and demonstrated steady progress in executing our business transition plan and maintaining disciplined operational focus. We've been building positive momentum throughout the year, reflected in our year-over-year revenue and Adjusted EBITDA growth. Internationally, our network investments are driving growth in high-speed data and mobile data subscribers, and our focus on operational efficiency is expanding margins and strengthening cash flow. In the U.S., we’re seeing tangible benefits from our investments in carrier and enterprise solutions, with new site activations from our carrier-managed services efforts and momentum in our fiber-fed deployments. We’re doing what we said we would do - methodically strengthening our operational foundation, improving our cost structure and margins, and positioning the business for sustainable growth as we move toward 2026." Third Quarter 2025 Financial Results Consolidated revenues were $183.2 million in the third quarter, up 3% versus $178.5 million in the year-ago quarter. This increase primarily reflects growth in fixed, carrier services, other, and construction revenue during the quarter that offset a year-over-year decline in mobility revenues. Operating income was $9.8 million in the third quarter versus a loss of $(38.4) million in the year-ago quarter. The year-ago quarter included a $35.3 million goodwill impairment charge. A $5.1 million reduction in depreciation and amortization expenses, a $3.3 million reduction in transaction-related charges, and a $1.1 million reduction in the cost of services resulting from structural cost containment efforts, also contributed to the improvement. Net Income attributable to ATN stockholders in the third quarter of 2025 was $4.3 million, or $0.18 per diluted share, versus a net loss of $(32.7) million, or $(2.26) per diluted share, in the year-ago quarter. Adjusted EBITDA1 was $49.9 million in the third quarter of 2025, up 9% from $45.7 million in the year-ago quarter. Segment Operating Results (in Thousands) The Company recorded financial results in three categories: (i) International Telecom; (ii) US Telecom; and (iii) Corporate and Other. For Three Months Ended September 30, 2025 and 2024 2025 2024 2025 2024 2025 2024 2025 2024 InternationalInternationalUSUSCorporate and Corporate and TotalTotal TelecomTelecomTelecomTelecomOther*Other*ATNATNTotal Revenue:$ 95,143$ 94,281$ 88,022 $ 84,170 $ - $ - $ 183,165$ 178,451 Mobility 26,696 26,809 9 706 - - 26,705 27,515 Fixed 61,377 61,759 53,099 51,015 - - 114,476 112,774 Carrier Services 3,334 3,272 30,739 29,430 - - 34,073 32,702 Construction - - 1,115 203 - - 1,115 203 All other 3,736 2,441 3,060 2,816 - - 6,796 5,257 Operating Income (Loss)$18,091$12,853$382 $(44,333)$(8,643)$(6,878)$9,830$(38,358)EBITDA **$32,527$31,518$19,243 $(23,912)$(7,789)$(6,674)$43,981$932 Adjusted EBITDA **$33,261$32,248$21,155 $17,692 $(4,479)$(4,270)$49,937$45,670 Capital Expenditures***$9,971$10,489$8,939 $13,070 $- $282 $18,910$23,841 For Nine Months Ended September 30, 2025 and 2024 2025 2024 2025 2024 2025 2024 2025 2024 InternationalInternationalUSUSCorporate and Corporate and TotalTotal TelecomTelecomTelecomTelecomOther*Other*ATNATNTotal Revenue:$ 284,533$ 282,697$ 259,226 $ 265,830 $ - $ - $ 543,759$ 548,527 Mobility 79,060 79,657 64 2,312 - - 79,124 81,969 Fixed 184,491 185,295 156,110 161,392 - - 340,601 346,687 Carrier Services 10,660 10,481 89,771 89,539 - - 100,431 100,020 Construction - - 4,377 2,609 - - 4,377 2,609 All other 10,322 7,264 8,904 9,978 - - 19,226 17,242 Operating Income (Loss)$49,061$56,944$(7,566)$(42,852)$(28,765)$(23,559)$12,730$(9,467)EBITDA **$94,530$108,512$49,378 $18,361 $(26,187)$(23,229)$117,721$103,644 Adjusted EBITDA **$98,925$94,808$56,930 $60,313 $(15,788)$(17,260)$140,067$137,861 Capital Expenditures***$30,241$39,440$30,684 $44,371 $- $1,860 $60,925$85,671 * Corporate and Other refer to corporate overhead expenses and consolidating adjustments.** EBITDA and Adjusted EBITDA are non-GAAP financial measures. Please see their definitions in the “Use of Non-GAAP Financial Measures and Definitions of Terms” and in Table 5.***Excludes government capital program amounts disbursed and amounts received. Operating Metrics Operating Metrics 20252025202520242024Q3 2025 Q3Q2Q1Q4Q3 vs. Q3 2024 High-Speed Data* Broadband Homes Passed 432,500 427,500 427,300 426,100 399,500 8%High-Speed Data* Broadband Customers142,500 141,900 141,300 140,800 141,100 1% Broadband Homes Passed 813,500 803,400 801,500 800,900 798,400 2%Broadband Customers197,200 200,300 199,800 203,200 205,900 -4% Fiber Route Miles12,062 11,957 11,944 11,921 11,901 1% International Mobile Subscribers Pre-Paid332,200 332,300 332,300 329,300 336,400 -1% Post-Paid61,200 60,200 59,600 59,500 58,700 4% Total393,400 392,500 391,900 388,800 395,100 0% Blended Churn3.19%3.09%3.32%3.51%3.47% *High-Speed Data is defined as download speeds 100 Mbps or greater and HSD Broadband Customers as subscribers connected to our high-speed networks regardless of the speed of plan selected. Note: Data presented may differ from prior periods to reflect more accurate data and/or changes in calculation methodology and process. Balance Sheet and Cash Flow Highlights Total cash, cash equivalents, and restricted cash as of September 30, 2025, increased to $119.6 million, and total debt was $579.6 million, versus $89.2 million of cash, cash equivalents, and restricted cash and $557.4 million of total debt as of December 31, 2024. The Company’s Net Debt Ratio3 was 2.47x on September 30, 2025. Net cash provided by operating activities increased to $97.7 million for the nine months ended September 30, 2025, compared with net cash provided by operating activities of $97.4 million in the prior-year period. Capital expenditures for the nine months ended September 30, 2025 were $60.9 million net of $67.3 million of reimbursable capital expenditures compared to $85.7 million net of $71.8 million of reimbursable capital expenditures in the prior-year period. Quarterly Dividends and Share Repurchases Quarterly dividends of $0.275 per share were paid on October 7, 2025, on all common shares outstanding to stockholders of record as of September 30, 2025. Share repurchases In the quarter ended September 30, 2025, the Company did not repurchase any shares. 2025 Business Outlook "As we enter the final quarter of the year, we're encouraged by the steady momentum across our business segments and remain focused on disciplined execution of our strategic roadmap,” said Martin. “We're seeing revenue growth in our domestic operations, led by the expansion of carrier-managed services and targeted enterprise sales execution, which reinforces our confidence in the strategic direction we've set. Internationally, we’re beginning to see stabilization in mobility trends and improving operational metrics in our core markets. “Our operational efficiency initiatives continue to generate measurable results, with disciplined cost management and optimized capital allocation keeping us well-positioned to deliver on our full-year objectives. With three quarters of solid execution behind us, we are refining our Adjusted EBITDA outlook and reaffirming our guidance for revenue, capital expenditure, and Net Debt Ratio. We remain confident in our ability to generate sustainable, long-term value creation for our shareholders." ATN refines its Full Year 2025 Adjusted EBITDA expectations while maintaining its outlook for revenue, capital expenditures, and Net Debt Ratio: Revenue, excluding construction revenue, is expected to be in line with 2024’s result of $725 millionAdjusted EBITDA2 is expected to be flat to slightly above 2024’s result of $184 million (previously guided to be flat with 2024)Capital expenditures are expected to be in the range of $90 to $100 million (net of reimbursable expenditures), down from the full year 2024 total of $110.4 millionNet Debt Ratio4 is expected to remain flat with full year 2024 at approximately 2.54x, with potential for slight improvement exiting 2025 For the Company’s full year 2025 outlook for Adjusted EBITDA and Net Debt Ratio, the Company is not able to provide without unreasonable effort the most directly comparable GAAP financial measures, or reconciliations to such GAAP financial measures, on a forward-looking basis. Please see “Use of Non-GAAP Financial Measures” below for a full description of items excluded from the Company’s expected Adjusted EBITDA and Net Debt Ratio. Conference Call InformationCall Date: Thursday, November 6, 2025Call Time: 10:00 a.m. ETWebcast Link: https://edge.media-server.com/mmc/p/fzhn433w Live Call Participant Link: https://register-conf.media-server.com/register/BId3ad9fa5ec044f7185e5b34d69cb6790 Webcast Link InstructionsYou can listen to a live audio webcast of the conference call by visiting the “Webcast Link” above or the "Events & Presentations" section of the Company's Investor Relations website at https://ir.atni.com/events-and-presentations. A replay of the conference call will be available at the same locations beginning at approximately 1:00 pm ET on the same day. The Company also will provide an investor presentation as a supplement to the call on the “Events & Presentations” section of its Investor Relations website. About ATN ATN International, Inc. (Nasdaq: ATNI), headquartered in Beverly, Massachusetts, is a leading provider of digital infrastructure and communications services for all. The Company operates in the United States and internationally, including the Caribbean region, with a focus on rural and remote markets with a growing demand for infrastructure investments. The Company’s operating subsidiaries today primarily provide: (i) advanced wireless and wireline connectivity to residential, business, and government customers, including a range of high-speed Internet and data services, fixed and mobile wireless solutions, and video and voice services; and (ii) carrier and enterprise communications services, such as terrestrial and submarine fiber optic transport, and communications tower facilities. For more information, please visit www.atni.com. Use of Non-GAAP Financial Measures and Definition of Terms In addition to financial measures prepared in accordance with generally accepted accounting principles (“GAAP”), this press release also contains non-GAAP financial measures. Specifically, the Company has included EBITDA, Adjusted EBITDA, Net Debt, and Net Debt Ratio in this release and the tables included herein. EBITDA is defined as Operating income (loss) before depreciation and amortization expense. Adjusted EBITDA is defined as Operating income (loss) before depreciation and amortization expense, transaction-related charges, restructuring and reorganization expenses, one-time impairment or special charges, the gain (loss) on dispositions, transfers and contingent consideration, and non-cash stock-based compensation. Net Debt is defined as total debt less cash and cash equivalents and restricted cash. Net Debt Ratio is defined as Net Debt divided by the trailing four quarters ended total Adjusted EBITDA at the measurement date. The Company believes that the inclusion of these non-GAAP financial measures helps investors gain a meaningful understanding of the Company's core operating results and enhances the usefulness of comparing such performance with prior periods. Management uses these non-GAAP measures, in addition to GAAP financial measures, as the basis for measuring the Company’s core operating performance and comparing such performance to that of prior periods. The non-GAAP financial measures included in this press release are not meant to be considered superior to or a substitute for results of operations prepared in accordance with GAAP and should be used supplementally to the Company’s GAAP financial results. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in the text of, and the accompanying tables to, this press release. While non-GAAP financial measures are an important tool for financial and operational decision-making and for evaluating the Company’s own operating results over different periods of time, the Company urges investors to review the reconciliation of these financial measures to the comparable GAAP financial measures included below, and not to rely on any single financial measure to evaluate its business. Additionally, these non-GAAP financial measures may not be calculated in the same manner as similar measures presented by other companies. Cautionary Language Concerning Forward-Looking Statements This press release contains forward-looking statements relating to, among other matters, the Company’s future financial performance, business goals and objectives, and results of operations, its future revenues, operating income, cash flows, network and operating costs, Adjusted EBITDA, Net Debt Ratio, and capital investments; the Company’s liquidity; receipt of certain government grants and management’s plans and strategy for the future. These forward-looking statements are based on estimates, projections, beliefs, and assumptions and are not guarantees of future events or results. Actual future events and results could differ materially from the events and results indicated in these statements as a result of many factors, including, among others, (1) the general performance of the Company’s operations, including operating margins, revenues, capital expenditures, and the retention of and future growth of the Company’s subscriber base and average revenue per user; (2) government regulation of the Company’s businesses, which may impact the Company’s telecommunications licenses, the Company’s revenue and the Company’s operating costs; (3) the timeliness and availability of government program funding, permitting, and approvals during the ongoing U.S. government shutdown; (4) the impact (if any) of geopolitical instability and U.S. military presence in the Caribbean; (5) the loss of, or an inability to recruit skilled personnel in the Company’s various jurisdictions, including key members of management; (6) the Company’s reliance on a limited number of key suppliers and vendors for timely and cost-effective supply of equipment and services relating to the Company’s network infrastructure; (7) the Company’s ability to satisfy the needs and demands of the Company’s major carrier customers; (8) the Company’s ability to realize expansion plans for its fiber markets; (9) the adequacy and expansion capabilities of the Company’s network capacity and customer service system to support the Company’s customer growth; (10) the Company’s ability to efficiently and cost-effectively upgrade the Company’s networks and information technology platforms to address rapid and significant technological changes in the telecommunications industry; (11) the Company’s continued access to capital and credit markets on terms it deems favorable; (12) the Company’s ability to successfully grow its US Telecom businesses through carrier mobility and broadband and consumer-based broadband services; (13) ongoing risk of an economic downturn, political, geopolitical and other risks and opportunities facing the Company’s operations, including those resulting from the continued inflation and other macroeconomic headwinds including increased costs and supply chain disruptions; (14) the Company’s ability to find investment or acquisition or disposition opportunities that fit the strategic goals of the Company; (15) the occurrence of weather events and natural catastrophes and the Company’s ability to secure the appropriate level of insurance coverage for these assets; and (16) increased competition. These and other additional factors that may cause actual future events and results to differ materially from the events and results indicated in the forward-looking statements above are set forth more fully under Item 1A “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission (“SEC”) on March 17, 2025, and the other reports the Company files from time to time with the SEC. The Company undertakes no obligation and has no intention to update these forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors that may affect such forward-looking statements, except as required by applicable law. Contact Michele SatrowskyAdam RogersCorporate Treasurer Investor RelationsATN International, Inc.Sharon Merrill Advisors, Inc.IR@atni.com ATNI@investorrelations.com978-619-1300 Table 1ATN International, Inc.Unaudited Condensed Consolidated Balance Sheets(in Thousands) September 30, December 31,20252024Assets: Cash and cash equivalents$106,163 $73,393 Restricted cash 13,477 15,851 Customer receivable 9,135 7,986 Other current assets 198,393 211,931 Total current assets 327,168 309,161 Property, plant and equipment, net 997,478 1,040,193 Operating lease right-of-use assets 101,720 99,427 Customer receivable - long term 36,735 41,030 Goodwill and other intangible assets, net 118,911 130,144 Other assets 116,669 107,148 Total assets$1,698,681 $1,727,103 Liabilities, redeemable non-controlling interests and stockholders’ equity: Current portion of long-term debt$9,851 $8,226 Current portion of customer receivable credit facility 8,322 8,031 Taxes payable 13,753 8,234 Current portion of lease liabilities 15,478 16,188 Other current liabilities 212,331 226,635 Total current liabilities 259,735 267,314 Long-term debt, net of current portion$569,755 $549,130 Customer receivable credit facility, net of current portion 29,876 36,203 Lease liabilities 78,509 77,469 Other long-term liabilities 112,872 125,233 Total liabilities 1,050,747 1,055,349 Redeemable non-controlling interests 84,328 76,303 Stockholders' equity: Total ATN International, Inc.’s stockholders’ equity 452,306 489,493 Non-controlling interests 111,300 105,958 Total stockholders' equity 563,606 595,451 Total liabilities, redeemable non-controlling interests and stockholders’ equity$1,698,681 $1,727,103 Table 2ATN International, Inc.Unaudited Condensed Consolidated Statements of Operations(in Thousands, Except per Share Data) Three Months Ended, Nine Months Ended,September 30, September 30, 2025 2024 2025 2024 Revenues: Communications services$177,752 $174,422 $526,657 $533,055 Construction 1,115 203 4,377 2,609 Other 4,298 3,826 12,726 12,863 Total revenue 183,165 178,451 543,760 548,527 Operating expenses (excluding depreciation and amortization unless otherwise indicated): Cost of services and other 77,850 78,973 233,239 235,499 Cost of construction revenue 1,086 205 4,770 2,588 Selling, general and administrative 54,293 53,601 165,684 172,580 Stock-based compensation 1,966 1,831 6,556 6,521 Transaction-related charges 444 3,791 2,072 3,809 Restructuring and reorganization expenses 1,990 2,345 8,727 3,535 Depreciation 32,938 37,299 101,327 107,196 Amortization of intangibles from acquisitions 1,212 1,991 3,664 5,916 (Gain) loss on dispositions, transfers and contingent consideration 1,556 1,504 4,991 (14,919) Goodwill impairment - 35,269 - 35,269 Total operating expenses 173,335 216,809 531,030 557,994 Operating income (loss) 9,830 (38,358) 12,730 (9,467) Other income (expense): Interest expense, net (11,471) (12,483) (35,827) (35,753) Other income (expense) 522 (645) (2,637) (1,052) Other income (expense), net (10,949) (13,128) (38,464) (36,805) Loss before income taxes (1,119) (51,486) (25,734) (46,272) Income tax benefit (5,052) (12,035) (9,019) (10,213) Net income (loss) 3,933 (39,451) (16,715) (36,059) Net loss attributable to non-controlling interests, net 410 6,760 5,104 6,059 Net income (loss) attributable to ATN International, Inc. stockholders$4,343 $(32,691) $(11,611) $(30,000) Net income (loss) per weighted average share attributable to ATN International, Inc. stockholders: Basic$0.18 $(2.26) $(1.06) $(2.24) Diluted$0.18 $(2.26) $(1.06) $(2.24) Weighted average common shares outstanding: Basic 15,257 15,114 15,204 15,268 Diluted 15,267 15,114 15,204 15,268 Table 3ATN International, Inc.Unaudited Condensed Consolidated Cash Flow Statements(in Thousands) Nine Months Ended September 30, 2025 2024 Net loss$(16,715) $(36,059)Depreciation 101,327 107,196 Amortization of intangibles from acquisitions 3,664 5,916 Provision for doubtful accounts 6,495 4,209 Amortization of debt discount and debt issuance costs 2,154 1,915 (Gain) loss on dispositions, transfers and contingent consideration 4,991 (14,919)Stock-based compensation 6,556 6,521 Deferred income taxes (12,767) (14,409)(Gain) loss on equity investments (246) (484)Loss on extinguishment of debt - 760 Goodwill impairment - 35,269 Decrease in customer receivable 3,146 3,076 Change in prepaid and accrued income taxes 5,326 (3,164)Change in other operating assets and liabilities (6,242) 1,599 Net cash provided by operating activities 97,689 97,426 Capital expenditures (60,925) (85,672)Government capital programs: Amounts disbursed (67,303) (71,849)Amounts received 61,146 72,531 Net proceeds from sale of assets 261 17,910 Purchases and sales of strategic investments - 790 Purchases and sales of employee benefit plan investments 685 505 Purchases of spectrum licenses and other intangible assets - (573) Net cash used in investing activities (66,136) (66,358) Dividends paid on common stock (11,475) (11,047)Distributions to non-controlling interests (1,404) (2,226)Finance lease payments (1,260) (1,357)Term loan - borrowings - 300,000 Term loan - repayments (5,795) (239,430)Payment of debt issuance costs (285) (6,548)Revolving credit facilities – borrowings 83,500 90,000 Revolving credit facilities – repayments (57,500) (94,002)Proceeds from customer receivable credit facility - 5,740 Repayment of customer receivable credit facility (6,123) (5,669)Purchases of common stock - stock-based compensation (770) (1,932)Purchases of common stock - share repurchase plan - (10,000)Purchases of noncontrolling interests (45) - Net cash (used in) provided by financing activities (1,157) 23,529 Net change in total cash, cash equivalents and restricted cash 30,396 54,597 Total cash, cash equivalents and restricted cash, beginning of period 89,244 62,167 Total cash, cash equivalents and restricted cash, end of period$119,640 $116,764 Table 4ATN International, Inc.Selected Segment Financial Information(In Thousands) For the three months ended September 30, 2025 is as follows: International Telecom US Telecom Corporate and Other *Total Statement of Operations Data: Revenue Mobility Business$5,172 $9 $- $5,181 Consumer 21,524 - - 21,524 Total$26,696 $9 $- $26,705 Fixed Business$18,663 $29,956 $- $48,619 Consumer 42,714 23,143 - 65,857 Total$61,377 $53,099 $- $114,476 Carrier Services$3,334 $30,739 $- $34,073 Other 2,358 140 - 2,498 Total Communications Services$93,765 $83,987 $- $177,752 Construction$- $1,115 $- $1,115 Managed services$1,378 $2,920 $- $4,298 Total Other $1,378 $2,920 $- $4,298 Total Revenue$95,143 $88,022 $- $183,165 Depreciation$14,198 $17,886 $854 $32,938 Amortization of intangibles from acquisitions$238 $975 $- $1,213 Total operating expenses$77,052 $87,640 $8,643 $173,335 Operating income (loss)$18,091 $382 $(8,643)$9,830 Net (income) loss attributable to non-controlling interests$(2,824)$3,234 $- $410 Non GAAP measures: EBITDA (2)$32,527 $19,243 $(7,789)$43,981 Adjusted EBITDA (1)$33,261 $21,155 $(4,479)$49,937 Balance Sheet Data (at September 30, 2025): Cash, cash equivalents and restricted cash$70,619 $44,066 $4,955 $119,640 Total current assets 169,112 144,433 13,623 327,168 Fixed assets, net 450,779 540,114 6,585 997,478 Total assets 701,370 894,052 103,259 1,698,681 Total current liabilities 98,708 118,428 42,599 259,735 Total debt, including current portion 59,926 324,579 195,102 579,607 * Corporate and Other refer to corporate overhead expenses and consolidating adjustments Table 4 (continued) ATN International, Inc.Selected Segment Financial Information(In Thousands) For the three months ended September 30, 2024 is as follows: International Telecom US Telecom Corporate and Other *TotalStatement of Operations Data: Revenue Mobility Business$5,007 $68 $- $5,075 Consumer 21,802 638 - 22,440 Total$26,809 $706 $- $27,515 Fixed Business$18,692 $29,575 $- $48,267 Consumer 43,067 21,440 - 64,507 Total$61,759 $51,015 $- $112,774 Carrier Services$3,272 $29,430 $- $32,702 Other 1,175 255 - 1,430 Total Communications Services$93,015 $81,406 $- $174,421 Construction$- $203 $- $203 Managed services$1,266 $2,561 $- $3,827 Total Other $1,266 $2,561 $- $3,827 Total Revenue$94,281 $84,170 $- $178,451 Depreciation$18,414 $18,681 $204 $37,299 Amortization of intangibles from acquisitions$251 $1,740 $- $1,991 Total operating expenses$81,428 $128,503 $6,878 $216,809 Operating income (loss)$12,853 $(44,333)$(6,878)$(38,358)Net (income) loss attributable to non-controlling interests$(1,893)$8,652 $- $6,759 Non GAAP measures: EBITDA (2)$31,518 $(23,912)$(6,674)$932 Adjusted EBITDA (1)$32,248 $17,692 $(4,270)$45,670 Balance Sheet Data (at December 31, 2024): Cash, cash equivalents and restricted cash$35,231 $51,604 $2,408 $89,243 Total current assets 129,866 168,754 10,541 309,161 Fixed assets, net 466,861 565,625 7,707 1,040,193 Total assets 675,642 957,914 93,547 1,727,103 Total current liabilities 85,588 147,490 34,236 267,314 Total debt, including current portion 59,850 316,242 181,264 557,356 (1) See Table 5 for reconciliation of Operating Income to Adjusted EBITDA (2) See Table 5 for reconciliation of Operating Income to EBITDA * Corporate and Other refer to corporate overhead expenses and consolidating adjustments ATN International, Inc.Selected Segment Financial Information(In Thousands) For the nine months ended September 30, 2025 is as follows: International Telecom US Telecom Corporate and Other *Total Statement of Operations Data: Revenue Mobility Business$14,879 $64 $- $14,943 Consumer 64,181 - - 64,181 Total$79,060 $64 $- $79,124 Fixed Business$55,572 $88,054 $- $143,626 Consumer 128,919 68,056 - 196,975 Total$184,491 $156,110 $- $340,601 Carrier Services$10,660 $89,771 $- $100,431 Other 6,186 314 - 6,500 Total Communications Services$280,397 $246,259 $- $526,656 Construction$- $4,377 $- $4,377 Managed services$4,136 $8,590 $- $12,726 Total Other $4,136 $8,590 $- $12,726 Total Revenue$284,533 $259,226 $- $543,759 Depreciation$44,729 $54,020 $2,578 $101,327 Amortization of intangibles from acquisitions$740 $2,924 $- $3,664 Total operating expenses$235,472 $266,792 $28,765 $531,029 Operating income (loss)$49,061 $(7,566)$(28,765)$12,730 Net (income) loss attributable to non-controlling interests$(6,606)$11,709 $- $5,103 Non GAAP measures: EBITDA (2)$94,530 $49,378 $(26,187)$117,721 Adjusted EBITDA (1)$98,925 $56,930 $(15,788)$140,067 * Corporate and Other refer to corporate overhead expenses and consolidating adjustments Table 4 (continued) ATN International, Inc.Selected Segment Financial Information(In Thousands) For the nine months ended September 30, 2024 is as follows: International Telecom US Telecom Corporate and Other *Total Statement of Operations Data: Revenue Mobility Business$14,747 $209 $- $14,956 Consumer 64,910 2,103 - 67,013 Total$79,657 $2,312 $- $81,969 Fixed Business$55,939 $95,359 $- $151,298 Consumer 129,356 66,033 - 195,389 Total$185,295 $161,392 $- $346,687 Carrier Services$10,481 $89,539 $- $100,020 Other 3,038 1,341 - 4,379 Total Communications Services$278,471 $254,584 $- $533,055 Construction$- $2,609 $- $2,609 Managed services$4,226 $8,637 $- $12,863 Total Other $4,226 $8,637 $- $12,863 Total Revenue$282,697 $265,830 $- $548,527 Depreciation$50,814 $56,052 $330 $107,196 Amortization of intangibles from acquisitions$754 $5,161 $- $5,915 Total operating expenses$225,753 $308,682 $23,559 $557,994 Operating income (loss)$56,944 $(42,852)$(23,559)$(9,467)Net (income) loss attributable to non-controlling interests$(8,467)$14,526 $- $6,059 Non GAAP measures: EBITDA (2)$108,512 $18,361 $(23,229)$103,644 Adjusted EBITDA (1)$94,808 $60,313 $(17,260)$137,861 (1) See Table 5 for reconciliation of Operating Income to Adjusted EBITDA(2) See Table 5 for reconciliation of Operating Income to EBITDA* Corporate and Other refer to corporate overhead expenses and consolidating adjustments Table 5ATN International, Inc.Reconciliation of Non-GAAP Measures(In Thousands) For the three months ended September 30, 2025 is as follows: International Telecom US Telecom Corporate and Other *Total Operating income (loss)$18,091 $382 $(8,643)$9,830 Depreciation expense 14,198 17,886 854 32,938 Amortization of intangibles from acquisitions 238 975 - 1,213 EBITDA$ 32,527 $ 19,243 $ (7,789)$ 43,981 Stock-based compensation 141 28 1,797 1,966 Transaction-related charges - - 444 444 Restructuring and reorganization expenses 577 344 1,069 1,990 (Gain) Loss on dispositions, transfers and contingent consideration 16 1,540 - 1,556 ADJUSTED EBITDA$ 33,261 $ 21,155 $ (4,479)$ 49,937 For the three months ended September 30, 2024 is as follows: International Telecom US Telecom Corporate and Other *Total Operating income (loss)$12,853 $(44,333)$(6,878)$(38,358)Depreciation expense 18,414 18,681 204 37,299 Amortization of intangibles from acquisitions 251 1,740 - 1,991 EBITDA$ 31,518 $ (23,912)$ (6,674)$ 932 Stock-based compensation 102 157 1,571 1,830 Transaction-related charges - 3,789 1 3,790 Restructuring and reorganization expenses 299 1,167 879 2,345 Goodwill impairment - 35,269 - 35,269 (Gain) Loss on dispositions, transfers and contingent consideration 329 1,222 (47) 1,504 ADJUSTED EBITDA$ 32,248 $ 17,692 $ (4,270)$ 45,670 For the nine months ended September 30, 2025 is as follows: International Telecom US Telecom Corporate and Other *Total Operating income (loss)$49,061 $(7,566)$(28,765)$12,730 Depreciation expense 44,729 54,020 2,578 101,327 Amortization of intangibles from acquisitions 740 2,924 - 3,664 EBITDA$ 94,530 $ 49,378 $ (26,187)$ 117,721 Stock-based compensation 498 155 5,903 6,556 Transaction-related charges - - 2,072 2,072 Restructuring and reorganization expenses 3,468 2,835 2,424 8,727 (Gain) Loss on dispositions, transfers and contingent consideration 429 4,562 - 4,991 ADJUSTED EBITDA$ 98,925 $ 56,930 $ (15,788)$ 140,067 For the nine months ended September 30, 2024 is as follows: International Telecom US Telecom Corporate and Other *Total Operating income (loss)$56,944 $(42,852)$(23,559) (9,467)Depreciation expense 50,814 56,052 330 107,196 Amortization of intangibles from acquisitions 754 5,161 - 5,915 EBITDA$ 108,512 $ 18,361 $ (23,229)$ 103,644 Stock-based compensation 319 484 5,718 6,521 Transaction-related charges - 3,789 20 3,809 Restructuring and reorganization expenses 1,489 1,167 879 3,535 Goodwill impairment - 35,269 - 35,269 (Gain) Loss on dispositions, transfers and contingent consideration (15,512) 1,243 (648) (14,917)ADJUSTED EBITDA$ 94,808 $ 60,313 $ (17,260)$ 137,861 Table 6 ATN International, Inc.Non GAAP Measure - Net Debt Ratio(in Thousands) September 30, December 31, 20252024 Current portion of long-term debt *$9,851 $8,226Long-term debt, net of current portion * 569,755 549,130 Total debt$579,606 $557,356 Less: Cash, cash equivalents and restricted cash 119,640 89,244 Net Debt$459,966 $468,112 Adjusted EBITDA - for the four quarters ended$186,297 $184,084 Net Debt Ratio 2.47 2.54 * Excludes Customer receivable credit facility

ATN Reports Third Quarter 2025 Results

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