ATN International, Inc.

Good day and thank you for standing by. Welcome to the ATN International Q1 2025 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 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Michelle Citrowski, Head of Investor Relations and Treasurer. Please go ahead.

Thank you, Operator, and good morning, everyone. I'm joined today by Brad Martin, APN's Chief Executive Officer, and Carlos Doglioli, APN's Chief Financial Officer. This morning, we'll be reviewing our first quarter 2025 results in reaffirming our 2025 outlook. As a reminder, we announced our 2025 first 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 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 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 further information regarding the factors that may affect our future operating results, please refer to our earnings release on our website at ir.atni.com or the 8 filing provided to the SEC. Before handing the call back to Brad, I'd like to note that moving forward and in line with common practice, we plan to shift the timing of our earnings release and calls by approximately one week. The adjustment is intended to better align with the timing of our 10 filing. With that, I'll hand the call over to Brad.

Thank you, Michelle. Good morning, everyone, and thank you for joining us. I'd like to start by recognizing our teams across ATN for their continued commitment and execution. In the face of industry-wide shifts and macroeconomic uncertainty, we've remained focused on what we can control, operational performance, discipline investment, and our long-term strategy. Our Q1 results reflect that discipline. As expected, our top line revenue declined year over year, largely due to the wind down of COVID-era government subsidy programs in the U.S. markets. We delivered 2% adjusted EBITDA growth, and cash from operations increased 55% to $35.9 million. These outcomes demonstrate early progress as we start the year and execute against our strategy. The strategic capital investments we've made over the past three years are delivering tangible returns. In the first quarter, we expanded the number of broadband homes passed by high-speed data services to 427,000 households, an increase of 11% year-on-year, and grew our high-speed subscriber base by 2% year-on-year. We remain confident in our long-term vision, leveraging our fiber and digital infrastructure to deliver high-value services, especially in markets where connectivity is both underbuilt and essential. And that vision is supported by a financial foundation that continues to strengthen. Let me take a moment to highlight key themes from the quarter. In our international segment, we saw improved operating efficiency resulting in an 11% increase year-on-year in adjusted EBITDA. Demand for high-speed broadband and business services remained steady. Increases in post-paid mobile subscribers and mobile data consumption continue to drive improvements in ARPU. The segment remains a strong contributor to our financial performance and a framework for how we are positioning our U.S. business over time. Domestically, while revenue declined as expected, we remain focused on executing our strategic shift. Our goal is clear. Grow our base of fiber and fiber-fed business and carrier solutions as we transition legacy consumer services towards fiber and fiber-fed broadband solutions. We are aligning our network go-to-market strategy, and capital deployment with its long-term focus. While the near-term transition creates revenue pressure, we are building a more resilient and higher margin business for the future. Importantly, we are advancing approximately $370 million in government-funded broadband infrastructure projects. Over half of these projects are expected to be completed in 2025. These programs are essential to our longer-term U.S. growth strategy. enable us to expand our fiber footprint with reduced capital intensity and provide long-term upside as projects come online and begin to generate revenue in the first quarter we submitted additional applications under the bead program in the u.s southwest reinforcing our commitment to expanding broadband access in historically underserved regions these efforts are a natural extension of our mission to connect people communities, and businesses with the infrastructure that enables opportunity. We also made strong progress on cash generation Q1, reflecting disciplined cost controls and focused capital allocation. We are encouraged by these early results, and we are reaffirming our annual guidance as previously outlined on our Q4 earnings call. Looking ahead to the rest of 2025, our priorities remain unchanged. continue expanding high-speed broadband and business services in our international markets while improving margin and capital efficiency, stabilize and reposition our U.S. business around sustainable fiber and fiber-fed revenue streams, and maintain a strong financial position to discipline capital allocation and a focus on cash flow growth. On the broader policy front, we're also monitoring recent developments around trade and tariffs. While we do not source devices or equipment at the same scale as large national carriers, any sustained increase in tariffs on network infrastructure, including fiber-related components and electronics, could introduce cost pressure over time. That said, based on our current supply chain visibility and the fact that half of our revenue in our largest consumer markets are outside of the United States and not immediately impacted, we believe we can manage any near-term impact within our existing 2025 financial outlook. We will continue working closely with our vendors and partners to mitigate cost volatility and ensure continuity of service delivery. While we recognize that the operating environment remains dynamic from policy shifts to competitive intensity, we believe we're executing the right strategy for the long term. Our focus is on monetization, operational leverage, and value creation. Carlos will take you through the numbers, but I want to reiterate, we are making steady progress, we are focused on our goals, and we remain confident in ATN's future. With that, I'll turn it over to Carlos.