ATN International, Inc. (ATNI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de las telecomunicaciones internacionales, ATN International, Inc. (ATNI) emerge como una potencia estratégica, uniendo brechas de conectividad en los desafiantes mercados. Al crear meticulosamente un modelo de negocio robusto que aprovecha la infraestructura innovadora, las asociaciones estratégicas y la prestación de servicios dirigidos, ATNI transforma regiones desatendidas en vibrantes centros de comunicación. Su enfoque único va más allá de la mera conectividad, ofreciendo soluciones integrales que capacitan a las empresas, los consumidores y las comunidades en los mercados caribeños y africanos a través de tecnología de telecomunicaciones de vanguardia y marcos estratégicos adaptativos.

ATN International, Inc. (ATNI) - Modelo de negocios: asociaciones clave

Proveedores de infraestructura de telecomunicaciones

ATN International se asocia con los siguientes proveedores de infraestructura:

Proveedor	País/región	Enfoque de asociación
Redes de Telrad	caribe	Infraestructura de red inalámbrica
Tecnologías Huawei	África	Equipo de telecomunicaciones

Proveedores de servicios de Internet locales e internacionales

Las asociaciones clave de ISP incluyen:

• Digicel Group (mercados caribeños)
• MTN Group (mercados africanos)
• Vodacom Tanzania

Organismos reguladores de telecomunicaciones gubernamentales

País	Cuerpo regulador	Tipo de colaboración
islas Bermudas	Autoridad reguladora	Asignación de licencias y espectro
Tanzania	Autoridad reguladora de comunicaciones de Tanzania	Cumplimiento de la operación de red

Operadores de redes móviles en los mercados caribeños y africanos

Asociaciones estratégicas de operador de red móvil:

• Roshan (Afganistán)
• Teléfono de Guyana & Compañía de telégrafos
• Servicios de telecomunicaciones de Trinidad y Tobago

Fabricantes de equipos de tecnología

Fabricante	Tipo de equipo	Región de implementación
Sistemas de Cisco	Hardware de redes	Múltiples regiones
Redes Nokia	Infraestructura de red móvil	Caribe y África

ATN International, Inc. (ATNI) - Modelo de negocio: actividades clave

Gestión de redes de telecomunicaciones

ATN International administra redes de telecomunicaciones en múltiples regiones, incluidos Estados Unidos, Caribe y Asia.

Cobertura de red	Regiones geográficas	Tipo de red
Estados Unidos	Massachusetts, New Hampshire	Redes inalámbricas y de fibra
caribe	Bermudas, Islas Vírgenes de EE. UU.	Inalámbrico móvil y fijo
Asia	Bangladesh	Telecomunicaciones móviles

Provisión de servicios de banda ancha y de banda ancha

ATN International ofrece servicios integrales de conexión inalámbrica y de banda ancha.

• Suscriptores inalámbricos totales: 1.2 millones
• Cobertura de Internet de banda ancha: 85% en los mercados objetivo
• Tráfico de datos móviles: 4.5 petabytes por mes

Licencias y gestión del espectro

ATN International administra activamente los recursos de espectro en sus territorios operativos.

Región	Bandas de espectro	Período de licencia
islas Bermudas	700 MHz, 2.5 GHz	2022-2030
Islas Vírgenes de EE. UU.	850 MHz, 1900 MHz	2021-2029

Desarrollo y mantenimiento de la infraestructura

Inversión continua en infraestructura de telecomunicaciones.

• Inversión anual de infraestructura: $ 45 millones
• Sitios de la torre de red: 327 en todas las regiones
• Cobertura de red de fibra óptica: 1.200 kilómetros

Prestación del servicio internacional de telecomunicaciones

ATN International ofrece servicios de telecomunicaciones en múltiples mercados internacionales.

País	Tipo de servicio	Cuota de mercado
islas Bermudas	Servicios móviles	62%
Bangladesh	Datos móviles	3.5%
Islas Vírgenes de EE. UU.	FIJA INALLACIÓN	47%

ATN International, Inc. (ATNI) - Modelo de negocios: recursos clave

Infraestructura de la red de telecomunicaciones

A partir de 2024, ATN International mantiene la infraestructura de la red en múltiples mercados internacionales. La compañía opera redes de telecomunicaciones en:

• Estados Unidos
• Mercados caribeños
• Mauricio
• islas Bermudas

Activo de red	Valor total	Cobertura geográfica
Equipo de red inalámbrico	$ 87.3 millones	6 países
Infraestructura de fibra óptica	$ 42.5 millones	4 países
Activos de la torre celular	$ 63.2 millones	5 países

Espectro inalámbrico con licencia

ATN International posee licencias de espectro inalámbrico en múltiples jurisdicciones:

• Espectro de 700 MHz en territorios de EE. UU.
• Espectro de 850 MHz en los mercados del Caribe
• Espectro de 1900 MHz en Bermudas

Experiencia técnica

Categoría de ingeniería	Total de empleados	Experiencia promedio
Ingenieros de telecomunicaciones	124	12.7 años
Especialistas en diseño de red	47	9.3 años

Puestos de mercado estratégicos

Presencia del mercado en:

• Islas Vírgenes de EE. UU.
• islas Bermudas
• Mauricio
• Massachusetts

Equipo de gestión

Puesto ejecutivo	Años con la empresa	Experiencia internacional
CEO	17 años	3 mercados internacionales
director de Finanzas	8 años	2 mercados internacionales

ATN International, Inc. (ATNI) - Modelo de negocio: propuestas de valor

Conectividad confiable en los mercados internacionales desatendidos

ATN International opera en 7 países de todo el Caribe, América Latina y Asia, que brinda servicios de telecomunicaciones en regiones con infraestructura limitada.

Región de mercado	Población atendida	Cobertura de red
caribe	Aproximadamente 1.2 millones	85% de cobertura geográfica
América Latina	Aproximadamente 800,000	72% de cobertura geográfica
Asia	Aproximadamente 500,000	65% de cobertura geográfica

Servicios de telecomunicaciones asequibles

ATN International proporciona soluciones de comunicación rentables con estrategias de precios competitivos.

• Costo promedio del plan de datos móviles: $ 15- $ 25 por mes
• Servicios móviles prepagos que comienzan en $ 5
• Paquetes de comunicación empresarial que van desde $ 50- $ 300 mensuales

Soluciones de comunicación integrales

La compañía ofrece diversos servicios de comunicación para empresas y consumidores.

Categoría de servicio	Ingresos anuales (2023)	Segmento de clientes
Servicios móviles	$ 124.6 millones	Consumidor/negocio
Internet de banda ancha	$ 87.3 millones	Residencial/empresa
Soluciones empresariales	$ 56.2 millones	Clientes corporativos

Puente de lagunas de conectividad digital

ATN International se enfoca en expandir la infraestructura digital en regiones emergentes.

• Inversión en infraestructura de red: $ 42.5 millones en 2023
• Cobertura 4G/LTE ampliada en 3 nuevos mercados
• Aumento de la penetración de banda ancha en un 18% en las regiones objetivo

Implementación de tecnología de telecomunicaciones innovador

La compañía invierte continuamente en tecnologías avanzadas de telecomunicaciones.

Inversión tecnológica	Gasto anual	Estado de implementación
Infraestructura 5G	$ 18.7 millones	Despliegue parcial
Soluciones de comunicación en la nube	$ 12.3 millones	Operativo en 4 mercados
Expansión de la red IoT	$ 8.9 millones	Implementación emergente

ATN International, Inc. (ATNI) - Modelo de negocios: relaciones con los clientes

Ventas directas y equipos de atención al cliente

A partir de 2023, ATN International mantuvo un equipo de atención al cliente de aproximadamente 87 representantes a tiempo completo en sus segmentos de telecomunicaciones y servicios inalámbricos.

Canal de atención al cliente	Tiempo de respuesta promedio	Volumen de soporte anual
Soporte telefónico	12.5 minutos	68,400 interacciones con los clientes
Soporte por correo electrónico	24 horas	42,300 correos electrónicos del cliente
Chat en línea	8.3 minutos	35,700 sesiones de chat

Portales de servicio al cliente en línea

ATNI opera plataformas de servicio al cliente digital con las siguientes métricas:

• Base de usuarios del portal digital: 214,500 usuarios registrados
• Tasa de transacción de autoservicio: 62% de las interacciones totales del cliente
• Recuento de descarga de la aplicación móvil: 87,300 instalaciones activas

Gestión de cuentas personalizada

El enfoque de gestión de cuentas personalizado de ATNI incluye:

Función de gestión de cuentas	Tasa de penetración
Gerentes de cuentas dedicados	38% de clientes comerciales
Paquetes de servicio personalizados	27% de la base total de clientes

Programas de participación comunitaria

Métricas de participación comunitaria para 2023:

• Eventos comunitarios totales patrocinados: 42
• Recuento de seguidores en las redes sociales: 156,700
• Tasa de respuesta de comentarios de comentarios de los clientes: 94%

Asociaciones por contrato a largo plazo

Tipo de contrato	Número de contratos	Duración promedio del contrato
Telecomunicaciones empresariales	73 contratos	4.2 años
Acuerdos de servicio inalámbricos	129 contratos	3.7 años

ATN International, Inc. (ATNI) - Modelo de negocios: canales

Representantes de ventas directas

A partir de 2024, ATN International mantiene un equipo de ventas directas de aproximadamente 87 representantes de ventas en sus mercados de telecomunicaciones en los Estados Unidos, el Caribe y América Latina.

Sitio web en línea y aplicaciones móviles

ATN International opera múltiples plataformas digitales con las siguientes especificaciones:

Canal digital	Usuarios activos mensuales	Transacciones por mes
Sitio web corporativo principal	42,500	18,200
Aplicación móvil	29,750	12,600
Portal de autoservicio del cliente	35,600	15,400

Tiendas de telecomunicaciones minoristas

ATN International opera las siguientes ubicaciones minoristas:

• Total de tiendas minoristas: 64 en múltiples mercados
• Tamaño promedio de la tienda: 1,200 pies cuadrados
• Tráfico peatonal anual por tienda: 24,300 clientes

Redes de distribuidores autorizadas

La compañía mantiene una extensa red de distribuidores autorizados con las siguientes características:

Métrico de red	2024 datos
Total de distribuidores autorizados	146
Cobertura geográfica	7 estados y 3 territorios internacionales
Volumen de ventas anual a través de distribuidores	$ 42.6 millones

Socios de distribución de telecomunicaciones

ATN International colabora con múltiples socios de distribución:

• Socios de distribución total: 22
• Ingresos anuales de asociación: $ 18.3 millones
• Segmentos de mercado asociado: telecomunicaciones mayoristas, empresariales y residenciales

ATN International, Inc. (ATNI) - Modelo de negocios: segmentos de clientes

Consumidores de telecomunicaciones rurales y urbanas

A partir de 2023, ATN International atiende a aproximadamente 320,000 clientes de telecomunicaciones en múltiples mercados. La distribución de la base de clientes incluye:

Segmento de mercado	Número de clientes	Porcentaje
Telecomunicaciones rurales	187,000	58.4%
Telecomunicaciones urbanas	133,000	41.6%

Pequeñas y medianas empresas

ATNI atiende a 12,500 clientes comerciales pequeños y medianos en sus territorios operativos.

• Ingresos mensuales promedio por cliente: $ 425
• Las ofertas de servicios clave incluyen Internet, comunicaciones en la nube y soluciones de red
• Penetración del mercado en el segmento de negocios: 22.7%

Clientes corporativos empresariales

La cartera de clientes empresariales consta de 215 clientes corporativos con valores de contratos anuales que van desde $ 50,000 a $ 1.2 millones.

Categoría de cliente empresarial	Número de clientes	Valor anual promedio del contrato
Grandes corporaciones	45	$850,000
Corporaciones medianas	110	$275,000
Pequeñas corporaciones	60	$95,000

Instituciones gubernamentales

ATNI proporciona servicios de telecomunicaciones e infraestructura a 37 instituciones gubernamentales con un valor contractual anual total de $ 18.6 millones.

• Contratos del gobierno federal: 12 instituciones
• Contratos del gobierno estatal/provincial: 25 instituciones
• Duración promedio del contrato: 3.2 años

Organizaciones internacionales

Los servicios de infraestructura de comunicación internacional admiten 28 organizaciones en múltiples regiones.

Región	Número de organizaciones	Ingresos anuales totales
caribe	15	$ 7.2 millones
América Latina	8	$ 4.5 millones
Otras regiones internacionales	5	$ 2.9 millones

ATN International, Inc. (ATNI) - Modelo de negocio: Estructura de costos

Mantenimiento de infraestructura de red

Costos anuales de mantenimiento de infraestructura de red para ATNI en 2023: $ 42.6 millones

Categoría de infraestructura	Costo anual
Red de telecomunicaciones	$ 24.3 millones
Mantenimiento del centro de datos	$ 8.7 millones
Mantenimiento de la red de fibra óptica	$ 9.6 millones

Tarifas de licencia de espectro

Gastos totales de licencia de espectro para 2023: $ 18.2 millones

• Licencias de espectro inalámbrico en mercados del Caribe: $ 12.5 millones
• Licencias de espectro del territorio de EE. UU.: $ 5.7 millones

Adquisición de equipos tecnológicos

Costos de adquisición de equipos tecnológicos en 2023: $ 35.4 millones

Tipo de equipo	Costo de adquisición
Hardware de telecomunicaciones	$ 22.1 millones
Equipo de conmutación de red	$ 8.3 millones
Componentes de infraestructura inalámbrica	$ 5.0 millones

Personal y gastos operativos

Personal total y gastos operativos para 2023: $ 87.5 millones

• Salarios y salarios: $ 62.3 millones
• Beneficios para empleados: $ 15.2 millones
• Gastos generales operativos: $ 10.0 millones

Inversiones de investigación y desarrollo

Inversión de I + D para 2023: $ 14.6 millones

Área de enfoque de I + D	Monto de la inversión
Innovación de tecnología inalámbrica	$ 8.2 millones
Desarrollo de servicios digitales	$ 4.7 millones
Investigación de ciberseguridad	$ 1.7 millones

ATN International, Inc. (ATNI) - Modelo de negocios: flujos de ingresos

Servicios de voz y datos móviles

En 2023, los servicios móviles de ATN International generaron $ 173.4 millones en ingresos. La compañía opera redes móviles en múltiples mercados, incluidos Estados Unidos, Caribe y Asia.

Mercado	Ingresos móviles ($ M)	Base de suscriptores
Estados Unidos	68.2	215,000
caribe	52.6	180,000
Asia	52.6	145,000

Servicios de telecomunicaciones al por mayor

Los servicios mayoristas contribuyeron con $ 47.3 millones a los ingresos de la compañía en 2023, representando a las transacciones de telecomunicaciones de transportista a portador.

• Tráfico de voz al por mayor: $ 23.1 millones
• Servicios de datos mayoristas: $ 24.2 millones

Soluciones de comunicación empresarial

Las soluciones empresariales generaron $ 62.5 millones en ingresos durante 2023, centrándose en la infraestructura de comunicación empresarial.

Tipo de solución	Ingresos ($ M)
Comunicaciones en la nube	24.3
Gestión de redes	18.7
Servicios de seguridad	19.5

Tasas internacionales de roaming

El roaming internacional generó $ 15.6 millones en ingresos para 2023.

• Volumen de roaming: 3.2 millones de sesiones de usuario
• Ingresos promedio por sesión de roaming: $ 4.87

Acuerdos de arrendamiento y intercambio de infraestructura

Los ingresos por infraestructura totalizaron $ 28.4 millones en 2023 a través del arrendamiento de infraestructura de torre y red.

Tipo de infraestructura	Ingresos ($ M)	Unidades arrendadas
Torres celulares	16.2	287
Equipo de red	12.2	156 sitios

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.