ATN International Files Q3 2024 10-Q

TL;DR

ATNI Q3 2024 10-Q filed. Financials and operations updated.

AI Summary

ATN International, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data and disclosures are provided, reflecting the company's status as of that date.

Why It Matters

This filing provides investors with the latest financial health and operational details of ATN International, crucial for understanding its current performance and future outlook.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the specific financial details and any forward-looking statements within the full report could indicate higher or lower risk.

Key Numbers

• 60000000 — Treasury Stock (Represents treasury stock common member value for the period 2024-01-01 to 2024-09-30.)
• 60000000 — Treasury Stock (Represents treasury stock common member value for the period 2023-07-01 to 2023-09-30.)
• 60000000 — Redeemable Common Units (Represents redeemable common units member value for the period 2024-07-01 to 2024-09-30.)
• 60000000 — Redeemable Common Units (Represents redeemable common units member value for the period 2023-07-01 to 2023-09-30.)

Key Players & Entities

• ATN International, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — Period of report
• 20241112 (date) — Filing date
• 0000879585 (company) — Central Index Key for ATN International, Inc.
• BEVERLY (location) — City of business and mail address
• MA (location) — State of business and mail address
• 01915 (location) — ZIP code of business and mail address
• 9786191300 (phone_number) — Business phone number

FAQ

Filing Documents

• atni-20240930x10q.htm (10-Q) — 3886KB
• atni-20240930xex31d1.htm (EX-31.1) — 17KB
• atni-20240930xex31d2.htm (EX-31.2) — 17KB
• atni-20240930xex32d1.htm (EX-32.1) — 9KB
• atni-20240930xex32d2.htm (EX-32.2) — 9KB
• 0001558370-24-015284.txt ( ) — 15905KB
• atni-20240930.xsd (EX-101.SCH) — 85KB
• atni-20240930_cal.xml (EX-101.CAL) — 94KB
• atni-20240930_def.xml (EX-101.DEF) — 335KB
• atni-20240930_lab.xml (EX-101.LAB) — 698KB
• atni-20240930_pre.xml (EX-101.PRE) — 488KB
• atni-20240930x10q_htm.xml (XML) — 3795KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 4 Item 1 Unaudited Condensed Consolidated Financial Statements 4 Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Equity for the Three and Nine Months Ended September 30, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 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 42-73 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 73 Item 4

Controls and Procedures

Controls and Procedures 74

—OTHER INFORMATION

PART II—OTHER INFORMATION 74 Item 1

Legal Proceedings

Legal Proceedings 74 Item 1A

Risk Factors

Risk Factors 74 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 74 Item 5 Other Information 75 Item 6 Exhibits 76

SIGNATURES

SIGNATURES 77 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) September 30, December 31, 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 100,689 $ 49,225 Restricted cash 16,075 12,942 Short-term investments 310 300 Accounts receivable, net of allowances for credit losses of $ 15.3 million and $ 16.4 million, respectively 88,706 88,030 Replace and remove program receivable 35,622 50,586 Customer receivable 7,924 7,249 Inventory, materials and supplies 15,815 19,133 Prepayments and other current assets 60,465 53,807 Total current assets 325,606 281,272 Fixed Assets, net 1,049,002 1,080,659 Telecommunication licenses, net 113,319 113,319 Goodwill 4,835 40,104 Intangible assets, net 13,889 19,585 Operating lease right-of-use assets 99,231 99,335 Customer receivable - long term 41,925 45,676 Other assets 103,574 103,764 Total assets $ 1,751,381 $ 1,783,714 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY Current Liabilities: Current portion of long-term debt $ 7,413 $ 24,290 Current portion of customer receivable credit facility 7,935 7,110 Accounts payable and accrued liabilities 175,741 182,069 Dividends payable 3,627 3,701 Accrued taxes 10,685 10,876 Current portion of lease liabilities 15,310 15,164 Advance payments and deposits 47,719 49,984 Total current liabilities 268,430 293,194 Deferred income taxes 1,878 19,775 Lease liabilities, excluding current portion 77,033 76,936 Deferred revenue, long-term 57,088 64,035 Other liabilities 77,979 74,531 Customer receivable credit facility, net of current portion 38,274 38,943 Long-term debt, excluding current portion 561,493 492,580 Total liabilities 1,082,175 1,059,994 Redeemable noncont

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View this 10-Q filing on SEC EDGAR