ATN International, Inc.

Good day, and thank you for standing by. Welcome to the ATN International Q4 2024 Earnings Conference Call and Webcast. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Michelle Cetrowski. Please go ahead.

Thank you, Operator, and good morning, everyone. I'm joined today by Brad Martin, APM's Chief Executive Officer, and Carlos Doblioli, APM's Chief Financial Officer. This morning, we'll be reviewing our fourth quarter and full year 2024 results and providing our 2025 outlook. As a reminder, we announced our 2024 fourth quarter results yesterday afternoon after the market closed. Investors can find the earnings release and conference call slide presentation on our investor relations website. Our earnings release and the presentation contain certain forward-looking statements concerning our current expectations, objectives, and underlying assumptions regarding our future operations. These statements are subject to risks and uncertainties that could cause actual results to differ materials from those described. Also, in an effort to provide useful information for investors, our comments today include non-GAAP financial measures. For details on these measures and reconciliations to comparable GAAP measures and for additional information regarding these factors that may affect our future operating results, please refer to our earnings release on our website at ir.atni.com or the 8K filing provided to the SEC. Now I'll turn the call over to Brad.

Thank you, Michelle. Good morning, and thank you all for joining us today for ATN's fourth quarter and full year 2024 earnings call. I appreciate your time and continued interest in our company. Before we begin, I want to recognize our teams across the organization for their hard work and dedication. Their focus and execution enabled us to make meaningful progress in 2024, despite some challenges in our U.S. operating markets. 2024 was a year of strategic execution and disciplined investment. As the telecom industry continues to evolve, our approach remains focused on long term value creation, operational efficiency and financial discipline. It also marked the final year of our three year investment cycle in first to fiber and glass and steel. during which we accelerated capital expenditures beyond historic levels to fortify our market-leading positions. In this period, we expanded our fiber route miles by 32%, doubled the number of broadband homes passed by high-speed services, and increased our high-speed, capable customers by 44%. As we enter 2025, we will focus on utilizing our long-lived fiber assets to deliver fiber and fiber-fed services to the markets we serve. For 2024, we delivered results aligned with our revised expectations for the year, balancing growth in key areas with the necessary transition of our U.S. business. Full-year revenue came in at $729 million with an adjusted EBITDA of $184 million. Strong cost discipline and operational efficiencies enabled us to increase cash flow from operations by 16% year-over-year, underscoring our focus on financial resilience and capital efficiency. In 2024, our international segment continued to grow, reinforcing its role as a strong contributor to our overall business. Through these efforts and actions, which we will take into 2025, we will position ATN for long-term strength and resilience. In the U.S., we continue to move away from legacy technologies and consumer service offerings derived from those older technologies and toward enterprise and carrier-driven fiber-based revenue streams and fiber-fed consumer services. This transformation is critical for building a stronger and more sustainable business. In the U.S., we invested in our infrastructure to expand our fiber network with a focus on higher value markets that will drive long-term returns. We exited lower margin services that no longer fit into our long-term strategy, allowing us to streamline operations and optimize our portfolio. and we have made key leadership changes to bring in experienced operators who understand how to drive efficiency and growth in our evolving markets. While we expect this shift will result in short-term revenue decline, it positions us for long-term stability and higher margin growth. Our network expansion and enterprise and carrier-centered strategy will create a more durable and sustainable revenue base moving forward. In our international segment, we continue to deliver steady revenue growth and margin expansion in 2024, supported by strong demand for high-speed broadband and business solutions. With international segment adjusted EBITDA growing 10% year-over-year, business service revenue increasing 6%, and with business mobility revenue increase of 21%, we are well-positioned to enter 2025 with a strategy focused on the following. Growing broadband penetration by increasing connectivity across our markets with a focus on high-value customer segments. Improving operational efficiencies by managing costs effectively, ensuring that revenue growth translates into stronger margins and improved operational free cash flow. And expanding fiber and business mobility services. We continue to develop and strengthen our competitive position in market leadership. This performance serves as a blueprint for success as we transition our U.S. business to a similarly efficient, high-value model. As we continue to expand our infrastructure and optimize operations internationally, our investments in high-speed broadband, fiber, and next-generation connectivity are supporting digital transformation across the Caribbean region. The expansion of reliable, high-capacity networks not only strengthens our market position but also plays a critical role in fostering economic growth innovation, and accessibility in line with the broader goal of creating a more digitally inclusive and globally competitive Caribbean. In the U.S. markets, one of our unique strengths is our ability to secure government funding to accelerate fiber expansion. We and our partners have been awarded more than $370 million in government grants, which will support fiber deployments in key markets. These investments enable network expansion with lower capital intensity creating long-term optionality for growth. They also reinforce ATN's role as a key provider of broadband infrastructure, particularly in underserved markets. This funding is a major differentiator that allows us to grow in a financially disciplined way while supporting our long-term infrastructure strategy. In 2025, we will complete a substantial portion of these grant-funded projects, positioning us for monetization in 2026 and beyond. ATN has a clear strategy built around three key strengths. First, fiber and fiber-fed telecom services. We invest in high-value fiber infrastructure as the foundation for long-term growth to support the growing demand for high-speed broadband services. Secondly, enterprise and carrier solutions. We enable higher-margin, business-driven service revenues with fiber-led technology services and local market expertise. And finally, We're optimizing operations and capital allocation while leveraging government grants to enhance operational free cash flow and shareholder value with durable assets and revenue streams. This approach positions us for consistent performance and long-term value creation. Looking ahead to 2025, our strategic focus remains clear. Maintaining our strong competitive position in our international markets with fiber and fiber fed solutions while also advancing our cost optimization efforts to increase free cash flow, leveraging our government-funded projects to expand infrastructure while we continue to optimize our U.S. business for more durable revenue sources and sustainable free cash flow, and maintaining a prudent capital allocation strategy with an objective to use the increased cash flows to return value to shareholders. While we expect some near-term variability as we complete this transition, Our focus remains on strengthening our core operations, enhancing efficiency, and expanding operating cash flow in the years ahead. Carlos will provide more detail on the financial outlook, but we remain confident that our disciplined execution and strategic investments will position ATN for long-term success. And with that, I'll hand the call over to you, Carlos.