ATN International Q2 2024 10-Q Filed

TL;DR

ATNI Q2 10-Q shows treasury stock activity and details on redeemable units.

AI Summary

ATN International, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported treasury stock activity for the second quarter and first half of 2024, with specific figures for these periods. The filing also details redeemable preferred and common units as of June 30, 2024, and December 31, 2023.

Why It Matters

This filing provides investors with an update on ATN International's financial position, including details on treasury stock and redeemable units, which can impact share count and shareholder equity.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates and does not indicate any immediate or significant new risks.

Key Numbers

• 2024-06-30 — Reporting Period End Date (The 10-Q covers financial information up to this date.)
• 2024-08-09 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• ATN International, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240809 (date) — Filing date
• 0000879585 (company) — Central Index Key for ATN International, Inc.

FAQ

Filing Documents

• atni-20240630x10q.htm (10-Q) — 3726KB
• atni-20240630xex10d1.htm (EX-10.1) — 2906KB
• atni-20240630xex31d1.htm (EX-31.1) — 17KB
• atni-20240630xex31d2.htm (EX-31.2) — 17KB
• atni-20240630xex32d1.htm (EX-32.1) — 9KB
• atni-20240630xex32d2.htm (EX-32.2) — 9KB
• 0001558370-24-011708.txt ( ) — 18456KB
• atni-20240630.xsd (EX-101.SCH) — 78KB
• atni-20240630_cal.xml (EX-101.CAL) — 90KB
• atni-20240630_def.xml (EX-101.DEF) — 319KB
• atni-20240630_lab.xml (EX-101.LAB) — 652KB
• atni-20240630_pre.xml (EX-101.PRE) — 458KB
• atni-20240630x10q_htm.xml (XML) — 3606KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 4 Item 1 Unaudited Condensed Consolidated Financial Statements 4 Condensed Consolidated Balance Sheets at June 30, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Equity for the Three and Six Months Ended June 30, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 9 Notes to Unaudited Condensed Consolidated Financial Statements 10 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 40-69 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 69 Item 4

Controls and Procedures

Controls and Procedures 70

—OTHER INFORMATION

PART II—OTHER INFORMATION 70 Item 1

Legal Proceedings

Legal Proceedings 70 Item 1A

Risk Factors

Risk Factors 70 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 70 Item 5 Other Information 71 Item 6 Exhibits 72

SIGNATURES

SIGNATURES 73 CERTIFICATIONS 2 Table of Contents Cautionary Statement Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q (or the "Report") contains forward-looking statements relating to, among other matters, the Company's future financial performance, business goals and objectives, and results of operations, expectations regarding its strategic investment plan, its future revenues, operating income, operating margin, cash flows, network and operating costs, EBITDA, Adjusted EBITDA, Net Debt, Net Debt Ratio, cost management initiatives, and capital investments; demand for the Company's services and industry trends; the timing of revenue, the Company's liquidity; the expansion of the Company's customer base and networks; receipt of certain government grants and management's plans, expectations 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, the impact of cost savings initiatives, and the retention of and future growth of the Company's subscriber base and ARPU; (2) the Company's reliance on a limited number of key suppliers and vendors for timely supply of equipment and services relating to the Company's network infrastructure; (3) the Company's ability to satisfy the needs and demands of the Company's major carrier customers; (4) the Company's ability to realize expansion plans for its fiber markets; (5) the adequacy and expansion capabilities of the Company's network capacity and customer service system to support the Company's customer growth; (6) the Company's ability to efficiently and cost-effectively upgrade the Company's ne

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Unaudited Condensed Consolidated Financial Statements

Item 1. Unaudited Condensed Consolidated Financial Statements ATN INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In Thousands, Except Share Data) June 30, December 31, 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 58,932 $ 49,225 Restricted cash 14,321 12,942 Short-term investments 300 300 Accounts receivable, net of allowances for credit losses of $ 16.4 million 98,324 88,030 Replace and remove program receivable 42,773 50,586 Customer receivable 7,746 7,249 Inventory, materials and supplies 15,067 19,133 Prepayments and other current assets 58,433 53,807 Total current assets 295,896 281,272 Fixed Assets, net 1,061,322 1,080,659 Telecommunication licenses, net 113,319 113,319 Goodwill 40,104 40,104 Intangible assets, net 15,788 19,585 Operating lease right-of-use assets 97,738 99,335 Customer receivable - long term 43,761 45,676 Other assets 104,413 103,764 Total assets $ 1,772,341 $ 1,783,714 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY Current Liabilities: Current portion of long-term debt $ 16,573 $ 24,290 Current portion of customer receivable credit facility 7,659 7,110 Accounts payable and accrued liabilities 163,902 182,069 Dividends payable 3,626 3,701 Accrued taxes 11,994 10,876 Current portion of lease liabilities 15,074 15,164 Advance payments and deposits 50,057 49,984 Total current liabilities 268,885 293,194 Deferred income taxes 17,754 19,775 Lease liabilities, excluding current portion 75,592 76,936 Deferred revenue, long-term 59,373 64,035 Other liabilities 75,943 74,531 Customer receivable credit facility, net of current portion 38,442 38,943 Long-term debt, excluding current portion 524,262 492,580 Total liabilities 1,060,251 1,059,994 Redeemable noncontrolling interests: Preferred redeem

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View this 10-Q filing on SEC EDGAR