Revenue Growth
Total revenue of $182 million, up nearly 2% year-over-year; core telecom revenues (ex-construction and subsidy impact) grew ~3% YoY.
Adjusted EBITDA Expansion
Total adjusted EBITDA of $49 million, up 10% year-over-year; adjusted EBITDA margin improved 200 basis points to 26.7%.
Operating Income Improvement
Operating income of $11.7 million, an increase of $9 million versus prior year quarter, driven by revenue growth, cost management and reduced D&A.
Net Loss Narrowed
Net loss attributable to ATN stockholders of $3 million ($0.29 per share), an improvement of approximately $6 million from last year's $9 million loss ($0.69 per share).
International Segment Momentum
International revenue $96 million, up 2% YoY; adjusted EBITDA $34 million, up 6% YoY; adjusted EBITDA margin expanded 140 basis points to 35.7%; like-for-like revenues up ~3% when normalizing government support.
Domestic Segment Strength
Domestic revenue $86 million, up ~2% YoY; adjusted EBITDA increased 11% to $19 million; normalized domestic revenues (excluding construction) up ~3% YoY.
Subscriber and Network Progress
High-speed homes passed expanded year-over-year (helped by fixed wireless deployment in Alaska) and high-speed subscribers increased YoY, driven by improved penetration in Guyana fiber; mobility subscribers slightly higher YoY (postpaid growth offset prepaid declines).
Balance Sheet and Liquidity
Ended quarter with $123 million in cash (up $6 million from year-end); total debt $570 million (up $5 million); net debt ratio improved to 2.3x from 2.36x, aided by higher adjusted EBITDA.
Tower Portfolio Sale Expected to Boost Liquidity
Comnet tower portfolio sale on track for initial Q2 closing with expected gross proceeds ~$250M-$270M (up to $297M total). Company expects to use ~ $70M of initial proceeds to repay revolver and will reassess outlook after closing.
Capital Expenditure Discipline
First quarter CapEx flat at $21 million YoY; reimbursable CapEx declined to $14 million from $22 million (down ~36%), and full-year net CapEx guidance maintained at $105M-$115M.