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ATN International Inc. (ATNI-3.91%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, reporting total revenue of $729.1 million, a decrease from $762.2 million in the previous year. The decrease is attributed to a reduction in construction and communication services revenue.
Operating expenses amounted to $729.9 million, slightly down from $749.0 million in 2023, with significant costs attributed to communication services and general administrative expenses.
The company recorded a goodwill impairment charge of $35.3 million related to its US Telecom segment, reflecting challenges in the segment's financial performance.
Net loss for the year was $31.9 million, compared to a net loss of $18.8 million in the previous year. The loss was impacted by increased interest expenses and other financial charges.
ATN reported cash provided by operating activities of $127.9 million, an increase from $111.6 million in 2023, driven by improvements in working capital management.
Capital expenditures for the year were $110.4 million, with additional expenditures of $108.5 million reimbursable under government programs.
The company ended the year with $89.2 million in cash, cash equivalents, and restricted cash, and had $557.4 million in total debt.
ATN's strategy focuses on expanding its digital infrastructure and communications services in rural and remote markets in the US and internationally, including Bermuda and the Caribbean.
The company continues to invest in network upgrades and expansion, with a focus on increasing high-speed broadband access and operational efficiencies.
ATN is engaged in regulatory and legal proceedings, with potential impacts on its financial condition and operations, including compliance with the FCC's Replace and Remove Program.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the ATN International Inc. annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.