ATN Reports Second Quarter 2025 Results; Reaffirms 2025 Outlook

Core Insights - ATN International, Inc. reported a consolidated revenue of $181.3 million for Q2 2025, a decrease of 1% compared to $183.3 million in Q2 2024, primarily due to the wind-down of subsidy programs and exit from legacy consumer solutions [4][6][7] - The company experienced a net loss of $7.0 million, or $0.56 per share, compared to a net income of $9.0 million, or $0.50 per diluted share, in the same quarter last year [6][7][30] - Adjusted EBITDA for Q2 2025 was $45.8 million, down 6% from $48.7 million in Q2 2024 [6][7][30] Financial Performance - Operating income for Q2 2025 was $0.2 million, significantly lower than $24.3 million in Q2 2024, which had benefited from a net gain of $15.9 million from asset dispositions [5][6][30] - Selling, general, and administrative costs were reduced, partially offsetting restructuring expenses of $4.9 million in the current quarter [5][6] - Net cash provided by operating activities increased by 2% to $59.8 million for the year-to-date period [7][15] Segment Performance - International Telecom revenue was $94.9 million in Q2 2025, slightly down from $95.4 million in Q2 2024, while US Telecom revenue decreased to $86.4 million from $87.9 million [9][36] - The company expanded high-speed broadband homes passed by 8% and grew total high-speed subscribers by 1% [7][12] - The total number of international mobile subscribers decreased by 1% to 392,500, with a 4% increase in post-paid subscribers [12][36] Business Outlook - The company reaffirmed its full-year 2025 guidance, expecting revenue excluding construction revenue to align with last year's result of $725 million and adjusted EBITDA to be flat at approximately $184 million [22][17] - Capital expenditures are projected to be between $90 million and $100 million for the year, compared to $110.4 million in 2024 [22][17] - The net debt ratio is expected to remain flat, with a slight potential improvement by the end of 2025 compared to 2.54x at the end of 2024 [22][17]