ATN International, Inc. (ATNI): Business Model Canvas

In der dynamischen Welt der internationalen Telekommunikation entwickelt sich ATN International, Inc. (ATNI) zu einem strategischen Kraftpaket, das Konnektivitätslücken in anspruchsvollen Märkten schließt. Durch die sorgfältige Entwicklung eines robusten Geschäftsmodells, das innovative Infrastruktur, strategische Partnerschaften und gezielte Servicebereitstellung nutzt, verwandelt ATNI unterversorgte Regionen in lebendige Kommunikationszentren. Ihr einzigartiger Ansatz geht über die bloße Konnektivität hinaus und bietet umfassende Lösungen, die Unternehmen, Verbraucher und Gemeinden in karibischen und afrikanischen Märkten durch modernste Telekommunikationstechnologie und adaptive strategische Rahmenbedingungen stärken.

ATN International, Inc. (ATNI) – Geschäftsmodell: Wichtige Partnerschaften

Anbieter von Telekommunikationsinfrastruktur

ATN International arbeitet mit folgenden Infrastrukturanbietern zusammen:

Anbieter	Land/Region	Partnerschaftsfokus
Telrad-Netzwerke	Karibik	Drahtlose Netzwerkinfrastruktur
Huawei-Technologien	Afrika	Telekommunikationsausrüstung

Lokale und internationale Internetdienstanbieter

Zu den wichtigsten ISP-Partnerschaften gehören:

• Digicel Group (karibische Märkte)
• MTN Group (afrikanische Märkte)
• Vodacom Tansania

Staatliche Regulierungsbehörden für Telekommunikation

Land	Regulierungsbehörde	Art der Zusammenarbeit
Bermuda	Regulierungsbehörde	Lizenzierung und Frequenzzuteilung
Tansania	Regulierungsbehörde für Kommunikation in Tansania	Compliance beim Netzwerkbetrieb

Mobilfunknetzbetreiber in karibischen und afrikanischen Märkten

Strategische Mobilfunknetzbetreiber-Partnerschaften:

• Roshan (Afghanistan)
• Guyana-Telefon & Telegraphenunternehmen
• Telekommunikationsdienste von Trinidad und Tobago

Hersteller von Technologiegeräten

Hersteller	Gerätetyp	Bereitstellungsregion
Cisco-Systeme	Netzwerkhardware	Mehrere Regionen
Nokia-Netzwerke	Mobilfunknetz-Infrastruktur	Karibik und Afrika

ATN International, Inc. (ATNI) – Geschäftsmodell: Hauptaktivitäten

Telekommunikationsnetzwerkmanagement

ATN International verwaltet Telekommunikationsnetze in mehreren Regionen, darunter den Vereinigten Staaten, der Karibik und Asien.

Netzwerkabdeckung	Geografische Regionen	Netzwerktyp
Vereinigte Staaten	Massachusetts, New Hampshire	Drahtlose und Glasfasernetzwerke
Karibik	Bermuda, Amerikanische Jungferninseln	Mobilfunk und Festnetz
Asien	Bangladesch	Mobile Telekommunikation

Bereitstellung von drahtlosen und Breitbanddiensten

ATN International bietet umfassende drahtlose und Breitbanddienste.

• Gesamtzahl der Mobilfunkteilnehmer: 1,2 Millionen
• Breitband-Internetabdeckung: 85 % in den Zielmärkten
• Mobiler Datenverkehr: 4,5 Petabyte pro Monat

Spektrumlizenzierung und -verwaltung

ATN International verwaltet aktiv die Frequenzressourcen in seinen Betriebsgebieten.

Region	Spektrumbänder	Lizenzzeitraum
Bermuda	700 MHz, 2,5 GHz	2022-2030
Amerikanische Jungferninseln	850 MHz, 1900 MHz	2021-2029

Infrastrukturentwicklung und -wartung

Kontinuierliche Investitionen in die Telekommunikationsinfrastruktur.

• Jährliche Infrastrukturinvestition: 45 Millionen US-Dollar
• Standorte von Netzwerkmasten: 327 in allen Regionen
• Glasfasernetzabdeckung: 1.200 Kilometer

Bereitstellung internationaler Telekommunikationsdienste

ATN International bietet Telekommunikationsdienste auf mehreren internationalen Märkten an.

Land	Servicetyp	Marktanteil
Bermuda	Mobile Dienste	62%
Bangladesch	Mobile Daten	3.5%
Amerikanische Jungferninseln	Festes WLAN	47%

ATN International, Inc. (ATNI) – Geschäftsmodell: Schlüsselressourcen

Infrastruktur des Telekommunikationsnetzes

Ab 2024 unterhält ATN International eine Netzwerkinfrastruktur in mehreren internationalen Märkten. Das Unternehmen betreibt Telekommunikationsnetze in:

• Vereinigte Staaten
• Karibische Märkte
• Mauritius
• Bermuda

Netzwerk-Asset	Gesamtwert	Geografische Abdeckung
Drahtlose Netzwerkausrüstung	87,3 Millionen US-Dollar	6 Länder
Glasfaserinfrastruktur	42,5 Millionen US-Dollar	4 Länder
Vermögenswerte von Mobilfunkmasten	63,2 Millionen US-Dollar	5 Länder

Lizenziertes drahtloses Spektrum

ATN International verfügt über Lizenzen für das drahtlose Spektrum in mehreren Gerichtsbarkeiten:

• 700-MHz-Spektrum in US-Territorien
• 850-MHz-Spektrum in karibischen Märkten
• 1900-MHz-Spektrum auf Bermuda

Technische Expertise

Kategorie Ingenieurwesen	Gesamtzahl der Mitarbeiter	Durchschnittliche Erfahrung
Telekommunikationsingenieure	124	12,7 Jahre
Spezialisten für Netzwerkdesign	47	9,3 Jahre

Strategische Marktpositionen

Marktpräsenz in:

• Amerikanische Jungferninseln
• Bermuda
• Mauritius
• Massachusetts

Management-Team

Führungsposition	Jahre im Unternehmen	Internationale Erfahrung
CEO	17 Jahre	3 internationale Märkte
Finanzvorstand	8 Jahre	2 internationale Märkte

ATN International, Inc. (ATNI) – Geschäftsmodell: Wertversprechen

Zuverlässige Konnektivität in unterversorgten internationalen Märkten

ATN International ist in sieben Ländern in der Karibik, Lateinamerika und Asien tätig und bietet Telekommunikationsdienste in Regionen mit begrenzter Infrastruktur an.

Marktregion	Bevölkerung bedient	Netzwerkabdeckung
Karibik	Ungefähr 1,2 Millionen	85 % geografische Abdeckung
Lateinamerika	Ungefähr 800.000	72 % geografische Abdeckung
Asien	Ungefähr 500.000	65 % geografische Abdeckung

Erschwingliche Telekommunikationsdienste

ATN International bietet kostengünstige Kommunikationslösungen mit wettbewerbsfähigen Preisstrategien.

• Durchschnittliche Kosten für einen mobilen Datentarif: 15 bis 25 US-Dollar pro Monat
• Prepaid-Mobilfunkdienste ab 5 $
• Geschäftskommunikationspakete zwischen 50 und 300 US-Dollar pro Monat

Umfassende Kommunikationslösungen

Das Unternehmen bietet vielfältige Kommunikationsdienstleistungen für Unternehmen und Verbraucher an.

Servicekategorie	Jahresumsatz (2023)	Kundensegment
Mobile Dienste	124,6 Millionen US-Dollar	Verbraucher/Unternehmen
Breitband-Internet	87,3 Millionen US-Dollar	Wohnen/Unternehmen
Unternehmenslösungen	56,2 Millionen US-Dollar	Firmenkunden

Überbrückung digitaler Konnektivitätslücken

ATN International konzentriert sich auf den Ausbau der digitalen Infrastruktur in aufstrebenden Regionen.

• Investition in die Netzwerkinfrastruktur: 42,5 Millionen US-Dollar im Jahr 2023
• Erweiterte 4G/LTE-Abdeckung in drei neuen Märkten
• Steigerung der Breitbanddurchdringung in den Zielregionen um 18 %

Einsatz innovativer Telekommunikationstechnologie

Das Unternehmen investiert kontinuierlich in fortschrittliche Telekommunikationstechnologien.

Technologieinvestitionen	Jährliche Ausgaben	Implementierungsstatus
5G-Infrastruktur	18,7 Millionen US-Dollar	Teilweiser Einsatz
Cloud-Kommunikationslösungen	12,3 Millionen US-Dollar	In 4 Märkten operativ
Erweiterung des IoT-Netzwerks	8,9 Millionen US-Dollar	Neue Implementierung

ATN International, Inc. (ATNI) – Geschäftsmodell: Kundenbeziehungen

Direktvertriebs- und Kundensupportteams

Ab 2023 unterhielt ATN International ein Kundensupportteam von etwa 87 Vollzeitmitarbeitern in den Segmenten Telekommunikation und Mobilfunkdienste.

Kundensupportkanal	Durchschnittliche Reaktionszeit	Jährliches Supportvolumen
Telefonsupport	12,5 Minuten	68.400 Kundeninteraktionen
E-Mail-Support	24 Stunden	42.300 Kunden-E-Mails
Online-Chat	8,3 Minuten	35.700 Chat-Sitzungen

Online-Kundendienstportale

ATNI betreibt digitale Kundenserviceplattformen mit den folgenden Kennzahlen:

• Nutzerbasis des digitalen Portals: 214.500 registrierte Nutzer
• Self-Service-Transaktionsrate: 62 % der gesamten Kundeninteraktionen
• Anzahl der Downloads mobiler Apps: 87.300 aktive Installationen

Personalisierte Kontoverwaltung

Der personalisierte Kontoverwaltungsansatz von ATNI umfasst:

Kontoverwaltungsfunktion	Penetrationsrate
Dedizierte Account Manager	38 % der Geschäftskunden
Maßgeschneiderte Servicepakete	27 % des gesamten Kundenstamms

Community-Engagement-Programme

Kennzahlen zum Community-Engagement für 2023:

• Insgesamt gesponserte Community-Events: 42
• Anzahl der Social-Media-Follower: 156.700
• Antwortquote des Kundenfeedbacks: 94 %

Langfristige Vertragspartnerschaften

Vertragstyp	Anzahl der Verträge	Durchschnittliche Vertragsdauer
Unternehmenstelekommunikation	73 Verträge	4,2 Jahre
Mobilfunk-Serviceverträge	129 Verträge	3,7 Jahre

ATN International, Inc. (ATNI) – Geschäftsmodell: Kanäle

Direktvertriebsmitarbeiter

Ab 2024 unterhält ATN International ein Direktvertriebsteam von etwa 87 Vertriebsmitarbeitern in seinen Telekommunikationsmärkten in den Vereinigten Staaten, der Karibik und Lateinamerika.

Online-Website und mobile Anwendungen

ATN International betreibt mehrere digitale Plattformen mit den folgenden Spezifikationen:

Digitaler Kanal	Monatlich aktive Benutzer	Transaktionen pro Monat
Hauptwebsite des Unternehmens	42,500	18,200
Mobile Anwendung	29,750	12,600
Kunden-Self-Service-Portal	35,600	15,400

Einzelhandelsgeschäfte für Telekommunikation

ATN International betreibt die folgenden Einzelhandelsstandorte:

• Gesamtzahl der Einzelhandelsgeschäfte: 64 in mehreren Märkten
• Durchschnittliche Ladengröße: 1.200 Quadratmeter
• Jährlicher Kundenverkehr pro Filiale: 24.300 Kunden

Autorisierte Händlernetzwerke

Das Unternehmen unterhält ein umfangreiches Vertragshändlernetz mit folgenden Merkmalen:

Netzwerkmetrik	Daten für 2024
Insgesamt autorisierte Händler	146
Geografische Abdeckung	7 Staaten und 3 internationale Territorien
Jährliches Verkaufsvolumen über Händler	42,6 Millionen US-Dollar

Vertriebspartner für Telekommunikation

ATN International arbeitet mit mehreren Vertriebspartnern zusammen:

• Vertriebspartner insgesamt: 22
• Jährlicher Partnerschaftsumsatz: 18,3 Millionen US-Dollar
• Partnermarktsegmente: Großhandel, Unternehmens- und Privat-Telekommunikation

ATN International, Inc. (ATNI) – Geschäftsmodell: Kundensegmente

Ländliche und städtische Telekommunikationsverbraucher

Ab 2023 bedient ATN International rund 320.000 Telekommunikationskunden in mehreren Märkten. Die Verteilung des Kundenstamms umfasst:

Marktsegment	Anzahl der Kunden	Prozentsatz
Ländliche Telekommunikation	187,000	58.4%
Städtische Telekommunikation	133,000	41.6%

Kleine und mittlere Unternehmen

ATNI betreut in seinen operativen Gebieten 12.500 kleine und mittlere Geschäftskunden.

• Durchschnittlicher monatlicher Umsatz pro Geschäftskunde: 425 $
• Zu den wichtigsten Serviceangeboten gehören Internet, Cloud-Kommunikation und Netzwerklösungen
• Marktdurchdringung im Geschäftssegment: 22,7 %

Unternehmenskunden

Das Unternehmenskundenportfolio besteht aus 215 Firmenkunden mit jährlichen Vertragswerten zwischen 50.000 und 1,2 Millionen US-Dollar.

Kategorie „Enterprise-Client“.	Anzahl der Kunden	Durchschnittlicher jährlicher Vertragswert
Große Unternehmen	45	$850,000
Mittelständische Unternehmen	110	$275,000
Kleine Unternehmen	60	$95,000

Regierungsinstitutionen

ATNI erbringt Telekommunikations- und Infrastrukturdienstleistungen für 37 Regierungsinstitutionen mit einem jährlichen Gesamtauftragswert von 18,6 Millionen US-Dollar.

• Bundesaufträge: 12 Institutionen
• Staats-/Provinzregierungsverträge: 25 Institutionen
• Durchschnittliche Vertragsdauer: 3,2 Jahre

Internationale Organisationen

Internationale Kommunikationsinfrastrukturdienste unterstützen 28 Organisationen in mehreren Regionen.

Region	Anzahl der Organisationen	Gesamtjahresumsatz
Karibik	15	7,2 Millionen US-Dollar
Lateinamerika	8	4,5 Millionen US-Dollar
Andere internationale Regionen	5	2,9 Millionen US-Dollar

ATN International, Inc. (ATNI) – Geschäftsmodell: Kostenstruktur

Wartung der Netzwerkinfrastruktur

Jährliche Wartungskosten für die Netzwerkinfrastruktur für ATNI im Jahr 2023: 42,6 Millionen US-Dollar

Kategorie „Infrastruktur“.	Jährliche Kosten
Telekommunikationsnetz	24,3 Millionen US-Dollar
Wartung des Rechenzentrums	8,7 Millionen US-Dollar
Wartung des Glasfasernetzes	9,6 Millionen US-Dollar

Spektrum-Lizenzgebühren

Gesamtkosten für Spektrumslizenzen für 2023: 18,2 Millionen US-Dollar

• Lizenzen für drahtloses Spektrum in karibischen Märkten: 12,5 Millionen US-Dollar
• Frequenzlizenzen für das US-Territorium: 5,7 Millionen US-Dollar

Beschaffung von Technologieausrüstung

Beschaffungskosten für Technologieausrüstung im Jahr 2023: 35,4 Millionen US-Dollar

Gerätetyp	Beschaffungskosten
Telekommunikationshardware	22,1 Millionen US-Dollar
Netzwerk-Switching-Ausrüstung	8,3 Millionen US-Dollar
Komponenten der drahtlosen Infrastruktur	5,0 Millionen US-Dollar

Personal- und Betriebskosten

Gesamte Personal- und Betriebskosten für 2023: 87,5 Millionen US-Dollar

• Gehälter und Löhne: 62,3 Millionen US-Dollar
• Leistungen an Arbeitnehmer: 15,2 Millionen US-Dollar
• Betriebsaufwand: 10,0 Millionen US-Dollar

Forschungs- und Entwicklungsinvestitionen

F&E-Investitionen für 2023: 14,6 Millionen US-Dollar

F&E-Schwerpunktbereich	Investitionsbetrag
Innovation in der drahtlosen Technologie	8,2 Millionen US-Dollar
Entwicklung digitaler Dienste	4,7 Millionen US-Dollar
Cybersicherheitsforschung	1,7 Millionen US-Dollar

ATN International, Inc. (ATNI) – Geschäftsmodell: Einnahmequellen

Mobile Sprach- und Datendienste

Im Jahr 2023 erwirtschafteten die Mobilfunkdienste von ATN International einen Umsatz von 173,4 Millionen US-Dollar. Das Unternehmen betreibt Mobilfunknetze in mehreren Märkten, darunter den Vereinigten Staaten, der Karibik und Asien.

Markt	Mobiler Umsatz (Mio. USD)	Abonnentenbasis
Vereinigte Staaten	68.2	215,000
Karibik	52.6	180,000
Asien	52.6	145,000

Großhandel mit Telekommunikationsdienstleistungen

Großhandelsdienstleistungen trugen im Jahr 2023 47,3 Millionen US-Dollar zum Umsatz des Unternehmens bei und repräsentieren Telekommunikationstransaktionen zwischen Betreibern.

• Großhandels-Sprachverkehr: 23,1 Millionen US-Dollar
• Großhandelsdatendienste: 24,2 Millionen US-Dollar

Unternehmenskommunikationslösungen

Unternehmenslösungen erwirtschafteten im Jahr 2023 einen Umsatz von 62,5 Millionen US-Dollar und konzentrierten sich auf die Infrastruktur für die Geschäftskommunikation.

Lösungstyp	Umsatz (Mio. USD)
Cloud-Kommunikation	24.3
Netzwerkmanagement	18.7
Sicherheitsdienste	19.5

Internationale Roaming-Gebühren

Das internationale Roaming generierte im Jahr 2023 einen Umsatz von 15,6 Millionen US-Dollar.

• Roaming-Volumen: 3,2 Millionen Benutzersitzungen
• Durchschnittlicher Umsatz pro Roaming-Sitzung: 4,87 $

Leasing- und Sharing-Vereinbarungen für Infrastruktur

Der Infrastrukturumsatz belief sich im Jahr 2023 auf insgesamt 28,4 Millionen US-Dollar durch die Vermietung von Sendemasten und Netzwerkinfrastruktur.

Infrastrukturtyp	Umsatz (Mio. USD)	Vermietete Einheiten
Mobilfunkmasten	16.2	287
Netzwerkausrüstung	12.2	156 Seiten

ATN International, Inc. (ATNI) - Canvas Business Model: Value Propositions

You're looking at the core promises ATN International, Inc. makes to its customers, which are deeply tied to their focus on underserved and remote areas. Honestly, their value is in being the provider where the big guys often aren't, and the numbers from late 2025 show this focus is driving their results.

The value proposition of delivering High-speed broadband (HSD $\ge$ 100 Mbps) in underserved markets is clearly supported by their network build-out metrics. Remember, HSD is defined by ATN International, Inc. as download speeds of 100 Mbps or greater. The company is executing on its "First-to-Fiber" and "Glass & Steel™" market strategies, established back in 2022.

For your reference, here's a look at the operational scale supporting this value as of the third quarter of 2025:

Metric	Value (Q3 2025)	Change YoY
High-speed broadband homes passed	Approximately 433,000	Increased 8%
Total high-speed data customers	Around 143,000	Grew 1%
US Telecom Segment Revenue	$95.16 million (52% of total)	Revenue up 5%

The second key promise is providing Reliable, critical communications infrastructure for remote areas. ATN International, Inc. operates in the US, including Alaska, and internationally across markets like Bermuda, the Cayman Islands, Guyana, and the US Virgin Islands. This infrastructure is the backbone for their other services.

Their offering of Enterprise-grade fiber and carrier solutions for businesses is showing tangible progress, particularly in the US segment. Management noted seeing defintely tangible benefits from these investments. This includes terrestrial and submarine fiber optic transport services.

Internationally, the value proposition centers on Enhanced mobile networks and improved service quality. The International Telecom segment, which makes up 48% of the Q3 2025 revenue at $88.03 million, is where this focus is most apparent. The company is actively working on enhancing these mobile networks. As of Q2 2025, their total mobile subscribers stood at 393,000.

The financial performance in Q3 2025 reflects the execution across these value propositions:

• Total revenue was $183.2 million, a 3% increase year-over-year.
• Adjusted EBITDA reached $49.9 million, marking a 9% increase from the prior year quarter.
• Net cash provided by operating activities for the year-to-date period was $97.7 million.
• The projected full-year 2025 revenue, excluding construction revenue, is expected to be in line with 2024's $725 million.
• The projected full-year 2025 Adjusted EBITDA is expected to be flat to slightly above 2024's $184 million.

Finance: draft 13-week cash view by Friday.

ATN International, Inc. (ATNI) - Canvas Business Model: Customer Relationships

You're looking at how ATN International, Inc. manages its connections with different client groups as of late 2025. The strategy clearly splits between high-touch service for business partners and scalable options for consumers.

Dedicated account management for carrier and enterprise clients

The focus on business relationships is evident in the US Telecom segment's performance, which management noted saw 'tangible benefits from our investments in carrier and enterprise solutions' in Q3 2025. This segment is a key driver of operational improvement.

Metric	Value (Q3 2025)	Comparison
US Telecom Adjusted EBITDA	$21.2 million	Up 19.6% year-over-year
US Telecom Revenue (excl. construction)	$87 million	Up 3.5% year-over-year
International Segment Adjusted EBITDA	$33.3 million	Up 3% year-over-year

The International segment also focuses on enhancing mobile networks and service quality to support higher data usage and grow the postpaid base, which implies dedicated relationship management for those larger international partners.

Localized customer service and trusted community relationships

In international markets, including the Caribbean region, efforts are translating into measurable results concerning subscriber quality. The company is enhancing mobile networks and service quality to support higher data usage.

• International postpaid mobile subscribers showed a sequential increase in Q3 2025.
• International postpaid mobile subscribers grew by 4% year-over-year in Q2 2025.

Self-service options for consumer mobile and fixed services

For the consumer base, the relationship model leans toward scalable service delivery, particularly in high-speed data (HSD) offerings, even as the company transitions away from legacy consumer technologies domestically.

Consumer Metric (Q3 2025 vs. Q3 2024)	Value	Trend
High-Speed Data Customers	~143,000	Up 1%
High-Speed Data Broadband Homes Passed	~433,000	Up 8%
Total High-Speed Subscribers	N/A	Up 1%
Overall Broadband Customers (Q1 2025 vs. Q1 2024)	N/A	Down -6%

Domestically, the company is seeing a decline in legacy consumer subscribers, with pre-paid subscribers declining by about 1% year-over-year in Q3 2025.

Long-term contracts with government and wholesale partners

Wholesale and government relationships are managed through carrier services and infrastructure deployment. The company is aligning capital investments with government-funded projects domestically.

• Carrier Services revenue for the year ended December 31, 2024, was $133.3 million.
• This represented a decrease of $9.6 million, or 6.7%, compared to the prior year.
• ATN International has an agreement pursuant to its operations in Guyana.

The company maintained its quarterly dividend of $0.275 per share paid in October 2025, signaling financial stability to its partners and investors.

ATN International, Inc. (ATNI) - Canvas Business Model: Channels

You're looking at how ATN International, Inc. (ATNI) gets its services-from rural broadband to international mobile-into the hands of its customers as of late 2025. The company uses a mix of direct, partner, and digital channels, which is typical for a firm operating in both the US Telecom and International Telecom segments.

The strategic focus, especially in the US Telecom segment, is shifting towards business and carrier solutions, which directly impacts the direct sales and wholesale channels. For instance, in the third quarter of 2025, revenue in the U.S. segment saw improvement driven primarily by carrier services growth. This suggests the direct sales teams targeting business and carrier customers are a key focus area for growth.

The company's channel strategy, as previously outlined, includes several avenues for reaching both consumer and enterprise customers:

• Digital distribution channels.
• Company owned retail/pop-up retail.
• Authorized dealers/agents.
• Direct sales.
• Inside sales.

Here's a breakdown of how these channels relate to the specific areas you asked about, supported by the latest available 2025 operational metrics:

Channel Focus Area	Supporting 2025 Operational Data (as of Q3 2025 unless noted)	Segment Relevance
Direct sales teams for business and carrier solutions	US Telecom segment revenue increased year-over-year, driven by carrier services growth.	US Telecom (Enterprise/Wholesale)
Retail stores and local agents in international markets	International segment Q3 2025 revenue was approximately $88.03 million, up 1% year-over-year, showing stabilization in core markets.	International Telecom (Consumer/Business)
Online portals and customer service centers for consumers	Total high-speed data subscribers grew 1% year-over-year to around 143,000 in Q3 2025.	US Telecom (Consumer Broadband)
Wholesale agreements with other telecommunications carriers	The company is gaining traction in its carrier service revenue as it replaces legacy roaming contracts with carrier managed service solutions.	US Telecom (Carrier Services)

For the consumer side, which relies heavily on digital and local points of presence, the growth in network reach is a key indicator of channel effectiveness. In the third quarter of 2025, ATN International, Inc. expanded its high-speed broadband homes passed by 8% year-over-year, reaching approximately 433,000 homes. This infrastructure build supports the consumer channel's ability to sign up new subscribers, even though total high-speed data customers grew by a more modest 1% year-over-year to around 143,000.

The International segment, which includes markets like Bermuda and the Cayman Islands, shows a different mix, likely leaning more on local agents and retail for its customer acquisition. This segment's Q3 2025 revenue was up 1% year-over-year, indicating steady, albeit slower, channel performance compared to the US segment's revenue growth of 4.6% in the third quarter.

The mobile services within the international operations also show channel activity, with post-paid mobile subscribers increasing by 4% year-over-year to approximately 61,000 in Q3 2025, while pre-paid subscribers declined 1% to about 332,000. This suggests the channel is successfully driving adoption of higher-value post-paid plans.

The company's overall financial guidance for 2025 reaffirms the focus on these channels by projecting revenue (excluding construction) to be in line with 2024's $725 million, suggesting that the existing channel mix is expected to maintain current revenue levels while the strategic pivot to higher-margin carrier solutions takes hold.

ATN International, Inc. (ATNI) - Canvas Business Model: Customer Segments

You're looking at the customer base for ATN International, Inc. (ATNI) as of late 2025, which is heavily focused on providing digital infrastructure and communications services in rural and remote areas across the United States and internationally, specifically the Caribbean region and Alaska.

The customer segments are served through two primary operating segments: U.S. Telecom and International Telecom. For the third quarter ended September 30, 2025, the revenue split between these segments shows a near-even distribution, though U.S. Telecom delivered stronger Adjusted EBITDA growth.

Here is a breakdown of the revenue and profitability contribution by segment for Q3 2025:

Customer Segment Focus Area	Q3 2025 Revenue (Approximate)	Q3 2025 Adjusted EBITDA (Approximate)	Year-over-Year Revenue Change	Year-over-Year Adjusted EBITDA Change
U.S. Telecom (Rural US focus, including Alaska)	$95.16 million (52% of Total)	$21.16 million (61% of Total)	3.5% increase (excl. construction)	19.6% increase
International Telecom (Caribbean, Bermuda, Guyana, USVI)	$88.03 million (48% of Total)	$18.09 million (39% of Total)	1% increase	3% increase

The specific customer types within these segments are:

• Carrier customers requiring wholesale network access.
• Business and Enterprise clients needing high-speed data services.
• Consumers in rural/remote US and international markets (Caribbean, Alaska).
• Government and public sector entities for infrastructure projects.

For the U.S. Telecom segment, which serves business and government clients alongside consumers, growth in carrier services and fixed business revenue was noted in Q3 2025. The company is also actively engaged in government-funded infrastructure projects.

Consumer metrics for high-speed data services, which span both segments, show ongoing expansion:

• High-speed broadband homes passed reached approximately 433,000 as of September 30, 2025, an 8% year-over-year increase.
• Total high-speed data customers grew by 1% to around 143,000.
• Post-paid mobile subscribers were approximately 61,000, marking a 4% year-over-year growth.
• Pre-paid mobile subscribers stood at about 332,000, showing a 1% decline.

The International segment, which includes the Caribbean markets, is seeing positive momentum from network enhancements supporting higher data usage and a growing post-paid subscriber base. The company had 2,300 total employees as of late 2025.

Looking at the full-year 2025 guidance, ATN International, Inc. expects total revenue, excluding construction revenue, to be in line with 2024's result of $725 million, with Adjusted EBITDA projected to be flat to slightly above 2024's $184 million.

ATN International, Inc. (ATNI) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive ATN International, Inc.'s operational spending as of late 2025. This is where the rubber meets the road on their strategy, balancing necessary infrastructure investment with the drive for efficiency.

The capital expenditure plan for the full year 2025 shows a deliberate step-down from prior investment cycles. Management reaffirmed the projection for net capital expenditures to fall between $90 million and $100 million for the entire year, net of reimbursements. For context, capital expenditures for the nine months ended September 30, 2025, were $60.9 million (net), against $85.7 million (net) in the prior-year period.

Here's a look at the capital and debt structure as of the third quarter of 2025:

Cost Component	Metric/Period	Amount
Projected Full Year 2025 Net CapEx	Full Year 2025 Projection	$90 million to $100 million
Total Debt	As of September 30, 2025	$579.6 million
Net Debt Ratio	As of September 30, 2025	2.47x
Net Debt Ratio	As of December 31, 2024	2.54x
Net Capital Expenditures	Nine Months Ended September 30, 2025	$60.9 million
Reimbursable Capital Expenditures	Nine Months Ended September 30, 2025	$67.3 million

The focus on structural cost containment is showing up in the reported figures. The company is actively working to convert these efforts into sustainable improvements in the cost base. For instance, in the third quarter of 2025, there was a $1.1 million reduction in the cost of services directly attributed to these structural cost containment efforts when compared to the year-ago quarter. This contributed to the Adjusted EBITDA for Q3 2025 reaching $49.9 million, up 9% year-over-year.

While specific figures for total network operating expenses and maintenance costs aren't broken out separately in the guidance, the overall goal is to keep the full-year 2025 Adjusted EBITDA flat to slightly above the 2024 result of $184 million, which inherently includes those operating costs. Personnel and administrative costs are captured within the Corporate and Other category, which is managed alongside the segment results to hit the overall EBITDA target.

• Structural cost containment efforts contributed to a $3.3 million reduction in transaction-related charges in Q3 2025.
• Structural cost containment efforts also resulted in a $5.1 million reduction in depreciation and amortization expenses in Q3 2025.
• The company is managing its debt load, aiming to keep the Net Debt Ratio flat with the 2024 level of approximately 2.54x exiting 2025.

The cost structure is clearly being managed with an eye on the balance sheet, evidenced by the total debt figure of $579.6 million at the end of Q3 2025 being balanced by $119.6 million in cash, cash equivalents, and restricted cash.

ATN International, Inc. (ATNI) - Canvas Business Model: Revenue Streams

You're looking at the core ways ATN International, Inc. brings in money as of late 2025. The overall picture suggests a focus on stabilizing core telecom services while growing infrastructure-related revenue.

The reaffirmed guidance for the full year 2025 revenue, excluding construction revenue, is expected to be in line with 2024 results, targeting approximately $725 million. As of the third quarter of 2025, the trailing twelve-month revenue stood at $724M. This revenue base is composed of several distinct streams, reflecting the company's dual focus on U.S. Telecom and International Telecom segments.

Fixed services revenue from high-speed broadband subscribers remains a foundational element, particularly in the U.S. Telecom segment. For the third quarter of 2025, U.S. Telecom revenues, excluding construction, were reported at $87 million, showing sequential improvement driven by fixed business revenue growth. The underlying subscriber base metrics show tangible expansion, with high-speed broadband homes passed increasing 8% year-over-year to approximately 433,000, and total high-speed subscribers growing 1% to around 143,000 in Q3 2025.

Carrier services revenue from wholesale network access is a key growth driver in the U.S. segment. The third quarter of 2025 saw revenue increases primarily reflecting growth in carrier services. This stream benefits from investments in carrier and enterprise solutions, including new site activations from carrier-managed services efforts.

Mobile services revenue from international segment subscribers is managed through the International Telecom segment, which saw Q3 2025 revenues increase 1% to approximately $95 million. This growth offsets an expected year-over-year decline in overall mobility revenues as ATN International, Inc. transitions away from legacy products. For context, Q1 2025 figures showed International Mobile Subscribers included 332,300 Pre-Paid and 59,600 Post-Paid customers.

Construction revenue from government-funded projects also contributes to the top line, with growth in this category noted in the third quarter of 2025 results. These projects, often tied to infrastructure expansion, are central to the company's U.S. growth strategy.

Here's a quick look at how the Q3 2025 revenue of $183.2 million broke down by segment, which informs the revenue stream composition:

Revenue Component	Q3 2025 Amount (Thousands USD)	Segment Contribution to Total Q3 Revenue
US Telecom Revenue (Excluding Construction)	$87,000	Approximately 47.5%
International Segment Revenue	Approximately $95,000	Approximately 52.0%
Total Reported Revenue (Q3 2025)	$183,200	100.0%

The company's revenue streams are further detailed by the underlying service types contributing to the overall performance. You can see the emphasis on infrastructure and managed services over legacy mobile:

• Fixed services revenue growth noted in Q3 2025.
• Carrier services revenue growth noted in Q3 2025.
• Construction revenue growth noted in Q3 2025.
• Mobility revenues experienced a year-over-year decline in Q3 2025.
• International segment Adjusted EBITDA grew 3% to $33.3 million in Q3 2025.

Finance: draft 13-week cash view by Friday.