ATN International, Inc.
For the period ended Mar 31, 2026. Filed May 11, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 11, 2026
ATNI$28.02+5.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-11-10.
0001104659-25-109113
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-03-31; filed 2026-05-11.
0001104659-26-058667
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 259 previous paragraphs and 199 current paragraphs.
68 unchanged; 92 reworded; 34 added; 84 removed; 15 previous and 5 current paragraphs rearranged.
Tables are not compared: 67 previous and 40 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (34)
Current report
The following Management's Discussion and Analysis of Financial Condition and Results of Operations (this “MD&A”) is intended to help the reader understand the Company, our operations and our present business environment. This MD&A is provided as a supplement to — and should be read in conjunction with — our MD&A for fiscal year 2025, which can be found in Part II, Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2025.
Current report
In addition, the following discussion and analysis of financial condition and results of operations are based upon our Consolidated Financial Statements and should be read in conjunction with these statements and notes thereto.
Current report
We have developed significant operational capabilities and resources that enhance the performance of our local market operations. Our operating subsidiaries benefit from this shared expertise, which allows them to deliver improved service quality and achieve greater economies of scale than would typically be possible in the smaller markets we serve. We provide centralized management, technical, financial, regulatory, and marketing support to these operating subsidiaries and typically receive a management fee based on a percentage of their revenues. The intercompany fees are eliminated in our consolidated financial results.
Current report
We use the cash generated from our operations to repay debt and increase liquidity, reinvest our network and service operations, fund capital expenditures, return value to stockholders through dividends or share repurchases, and to pursue strategic transactions. We continuously evaluate both domestic and international opportunities that align with our long-term goal of generating sustained excess operating cash flows.
Current report
Tower Portfolio Transaction
Current report
On February 11, 2026, through certain Commnet subsidiaries, we entered into a Purchase and Sale Agreement (the “Transaction Agreement”) with EIP Holdings IV, LLC, an affiliate of Everest Infrastructure Partners, Inc. (“Everest”), to sell approximately 214 tower portfolio sites (representing the substantial majority of our Commnet tower portfolio and operations (the “Tower Portfolio”) to Everest for up to $297 million in cash consideration, subject to certain adjustments and prorations (the “Tower Portfolio Transaction”).
Current report
The Tower Portfolio Transaction may be completed in one or more closings. The Transaction Agreement sets forth certain conditions that must be satisfied prior to the conveyance of tower sites at a closing. During the period between signing and the initial closing, the parties will determine which tower sites within the Tower Portfolio have satisfied such conditions and are ready to be conveyed at the initial closing, which sites have not yet satisfied all such conditions but for which Everest is prepared to assume management pending satisfaction of such conditions, and which sites are not yet constructed or are subject to other conditions that will continue to be managed by us until such conditions are satisfied.
Current report
At the initial closing, we will enter into, among other ancillary agreements, (i) a management agreement for
Current report
certain sites, (ii) master lease agreements, pursuant to which we will lease the requisite ground, tower, or other space of the conveyed tower site for our continued use, and (iii) a preferred backhaul agreement whereby we will become the preferred backhaul provider with respect to the conveyed tower sites.
Current report
The Transaction Agreement contains customary representations, warranties, covenants, and indemnities by each of the parties, and requires the receipt of certain consents and approvals prior to a closing. The waiting period required under the Hart-Scott Rodino Act of 1976 with respect to the Tower Portfolio Transaction expired in early March 2026. If the Transaction Agreement is terminated under certain circumstances that are not our fault, we will receive a termination fee equal to approximately $14.9 million.
Current report
We continue to expect the initial closing of the Tower Portfolio Transaction to occur in the second quarter of 2026 generating gross proceeds of approximately $250 million to $270 million. Subsequent closings, totaling approximately $27 million to $47 million, are anticipated to occur over the twelve months following the initial closing, subject to the achievement of specified construction and operational milestones at designated sites within the Tower Portfolio.
Current report
We now currently anticipate that approximately 45-55% of the amount of proceeds to be received at the initial closing will be subject to post-closing resolution, due to delays in obtaining ground lease assigning consents from government and tribal agencies, as well as other conditions being satisfied with respect to such sites.
Current report
date of this Report, the FCC had not yet acted on this request and, as a result, the Company is currently not receiving this support. If the FCC grants our request, it may or may not extend our support on a retroactive basis from December 31, 2025; and
Current report
International Telecom. Revenues within our International Telecom segment increased $1.6 million, or 1.7%, to $96.1 million from $94.5 million for the three months ended March 31, 2026 and 2025, respectively, primarily due to an increase in revenues from ancillary services, increases in Mobility Services revenues as a result of an increase in subscribers and increases in Carrier Services revenue as a result of increased roaming. These increases were partially offset by a reduction in revenue received from the FCC’s High-Cost Support Program in the US Virgin Islands, which was terminated on December 31, 2025.
Current report
Operating expenses within our International Telecom segment decreased by $2.9 million, or 3.6%, to $76.8 million from $79.7 million for the three months ended March 31, 2026 and 2025, respectively. The net decrease was primarily the result of certain cost savings initiatives, including reorganizations and reductions in force, that were implemented in the current and previous periods as well as a decrease in depreciation and amortization expenses as a result of a reduction in capital expenditures in recent periods.
Current report
US Telecom. Revenue within our US Telecom segment increased by $1.4 million, or 1.7%, to $86.2 million from $84.8 million for the three months ended March 31, 2026 and 2025, respectively, primarily as a result of a $2.7 million increase in Carrier Services revenue due to the transition of legacy roaming arrangements to carrier service management contracts. Partially offsetting this increase was a decline in the construction revenue of $1.0 million as a result of a decrease in the number of sites completed in 2026 as compared to 2025.
Current report
Operating expenses within our US Telecom segment decreased $2.8 million, or 3.2%, to $84.4 million from $87.2 million for the three months ended March 31, 2026 and 2025, respectively, as a result of the impact of certain cost savings initiatives, including the reorganizations and reductions in force, that were implemented in the current and previous periods.
Current report
Mobility Services revenue increased by $0.3 million, or 1.1%, to $26.4 million for the three months ended March 31, 2026 from $26.1 million for the three months ended March 31, 2025 as result of an increase in subscribers.
Current report
Within our US Telecom segment, we expect Fixed Services revenue to increase moderately as a result of an increase in government grants and our deployment of fiber and fiber-fed broadband access to both consumers and businesses.
Current report
Within our US Telecom segment, Carrier Services revenue is expected to decline upon the completion of the Tower Portfolio Transaction.
Current report
Managed Services revenue decreased by $0.4 million, or 9.5%, to $3.8 million from $4.2 million for the three months ended March 31, 2026 and 2025, respectively. The net decrease consisted of a decrease within our US Telecom segment that was partially offset by an increase within our International Telcom segment, as detailed below:
Current report
We expect that the cost of communication services, within our US Telecom segment, will increase upon the completion of the Tower Portfolio Transaction and may also increase as a result of future inflationary pressure. However, the impact of our cost reduction initiatives, that commenced in previous periods, may partially offset those increases.
Current report
Selling, general and administrative expenses increased by $1.0 million, or 1.8%, to $56.2 million from $55.2 million for the three months ended March 31, 2026 and 2025, respectively. The net increase in selling, general and administrative expenses, within our segments, consisted of the following:
Current report
Stock-based compensation for both the three months ended March 31, 2026 and 2025 was $1.9 million.
Current report
Increase and decreases in restructuring and reorganization expenses within each segment are a result of the timing and magnitude of our reductions in force.
Current report
Interest Expense. Interest expense in future periods may decline upon the completion of the Tower Portfolio Transaction if the proceeds from that transaction are used to reduce our debt balances.
Current report
Other expense. For the three months ended March 31, 2026, other expense was $3.2 million of expense primarily related to a $2.6 million loss from our noncontrolling investments and $0.4 million in losses on foreign currency transactions.
Current report
Income taxes. Our effective tax rates for the three months ended March 31, 2026 and 2025 were (84.1)% and 1.7%, respectively.
Current report
income from an allocation of $1.5 million of income for the three months ended March 31, 2026 and 2025, respectively. The decrease was the result of increased profitability at certain less than wholly owned subsidiaries.
Current report
*Cash used in financing activities.*Cash used by financing activities decreased to $2.7 million from $2.8 million for the three months ended March 31, 2026 and 2025, respectively. The decrease in cash used by financing activities of $0.1 million was primarily the result of a $1.1 million increase in cash used to repurchase our common stock from employees to satisfy certain tax withholding obligations and a $0.6 million increase in cash used for dividends paid to our stockholders. Such increases were offset by an increase in cash provided by funds payable and due to customers of $1.7 million.
Current report
In connection with the proposed Tower Portfolio Transaction, on February 11, 2026, the Company entered into a Consent Agreement (the “Consent”) with CoBank, as Administrative Agent, and the Lenders and Voting Participants (constituting Required Lenders (as defined in the 2023 CoBank Credit Agreement)) party thereto, in connection with the 2023 CoBank Credit Agreement. Pursuant to the terms of the Consent, CoBank and the other Lenders and Voting Participants (constituting Required Lenders) party thereto consented to: (i) the consummation of the Tower Portfolio Transaction; (ii) the distributions of the Net Cash Proceeds (as defined in the 2023 CoBank Credit Agreement) from the Tower Portfolio Transaction to the Company and the minority shareholders of the Commnet Parties; (iii) the Net Cash Proceeds received from the Tower Portfolio Transaction being applied to the repayment of the outstanding 2023 CoBank Revolving Loan rather than the 2023 CoBank Term Loan; and (iv) to the extent that there are Net Cash Proceeds remaining after repaying the outstanding 2023 CoBank Revolving Loan, such Net Cash Proceeds being used by the Company and its subsidiaries for working capital and general corporate purposes. The Consent further provides for the release of the Liens (as defined in the 2023 CoBank Credit Agreement) on the assets being sold in connection with the Tower Portfolio Transaction.
Current report
USVI Debt
Current report
Availability Under Credit Facilities. In addition to future internally generated funds, we had the following available to us under our credit facilities as of December 31, 2025 and may be able to raise funds in the capital markets by making an offering under our universal shelf registration.
Current report
In addition to future internally generated funds, we had the following available to us under our credit facilities, as defined below, as of March 31, 2026 and may be able to raise funds in the capital markets by making an offering under our universal shelf registration.
Removed paragraphs (84)
Previous report
We have developed significant operational expertise and resources that we use to augment our capabilities in our local markets. With this support, our operating subsidiaries can improve their quality of service with greater economies of scale and expertise than would typically be available in the size markets we operate in. We provide management, technical, financial, regulatory, and marketing services to our operating subsidiaries and typically receive a management fee calculated as a percentage of their revenues, which is eliminated in consolidation. We also actively evaluate investment opportunities and other strategic transactions, both domestic and international, and generally look for those that we believe fit our profile of telecommunications businesses while keeping a focus on generating excess operating cash flows over extended periods of time. We use the cash generated from our operations to maintain an appropriate ratio of debt and cash on hand and to re-invest in organic growth, to fund capital expenditures, to return value to our stockholders through dividends or stock repurchases, and to make strategic investments or acquisitions.
Previous report
Carrier Managed Services
Previous report
In July 2019, we entered into a Network Build and Maintenance Agreement with AT&T Mobility, LLC (“AT&T”) that we subsequently amended through March 31, 2025 (the “FirstNet Agreement”). In connection with the FirstNet Agreement, we are building a portion of AT&T’s network for the First Responder Network Authority (“FirstNet”) in or near our current operating areas in the western United States. Pursuant to the FirstNet Agreement and subject to certain limitations contained therein, all cell sites must be completed and accepted within a specified period of time. Since the inception of the project through September 30, 2025, we have recorded $81 million in construction revenue and expect to record approximately $5 million in additional construction revenue and related costs as sites are completed. We expect to substantially complete the build during the first half of 2026. Revenues from construction are expected to have minimal impact on the Company’s operating income.
Previous report
Following acceptance of a cell site, AT&T will own the cell site, and we will assign to AT&T any third-party tower lease applicable to such cell site. If the cell site is located on a communications tower we own, AT&T will pay us pursuant to a separate lease agreement for an initial term of eight years. In addition to building the network, we will provide ongoing equipment and site maintenance and high-capacity transport to and from these cell sites for an initial term ending in 2031.
Previous report
On May 10, 2023, we entered into a Carrier Managed Services Master Agreement (the “Verizon CMS Agreement”) with Cellco Partnership d/b/a Verizon Wireless (“Verizon”), pursuant to which we will provide a variety of network, infrastructure and technical services that will help deliver next generation wireless services to Verizon’s subscribers in our current operating areas in the southwestern United States.
Previous report
Pursuant to the Verizon CMS Agreement and subject to certain limitations contained therein, we will upgrade our wireless service in specific areas and provide services to Verizon for an initial term ending in 2030.
Previous report
Following acceptance of a cell site, we will continue to own the cell site. In addition to building the network, we will provide ongoing equipment and site maintenance and high-capacity transport to and from these cell sites for an initial term ending in 2030.
Previous report
With respect to each of our FirstNet and Verizon agreements, our carrier partners will continue to use our wholesale domestic mobility network for roaming services at a fixed rate per site during the construction period until such time as the cell site is completed. Thereafter, revenue from the maintenance, leasing and transport services provided is expected to generally offset revenue from wholesale mobility roaming services.
Previous report
2028. Beginning in 2029 and continuing through 2034, the amount of ACF support we receive will be determined by the FCC staff taking into consideration broadband deployment funded through the Broadband Equity Access and Deployment Program. The ACF replaced the $19.7 million per year that we had previously received in Connect America Fund II (“CAF II”) support in Alaska;
Previous report
International Telecom. Revenues within our International Telecom segment increased $0.8 million, or 0.8%, to $95.1 million from $94.3 million for the three months ended September 30, 2025 and 2024, respectively. This increase was primarily the result of increases in revenue from ancillary services and Carrier Services of $1.2 million and $0.1 million, respectively, partially offset by decreases in Fixed and Mobility revenues of $0.4 million and $0.1 million, respectively.
Previous report
Operating expenses within our International Telecom segment decreased by $4.3 million, or 5.3%, to $77.1 million from $81.4 million for the three months ended September 30, 2025 and 2024, respectively. Operating expenses for the three months ended September 30, 2025 decreased through certain cost savings initiatives, including reorganization and reductions in force, that were implemented in current and previous periods.
Previous report
US Telecom. Revenue within our US Telecom segment increased by $3.8 million, or 4.5%, to $88.0 million from $84.2 million for the three months ended September 30, 2025 and 2024, respectively, primarily as a result of increases in Fixed revenue, Carrier Service revenue, Construction revenue and Managed Services revenue of $2.1 million, $1.3 million, $0.9 million and $0.4 million, respectively. Such increases were partially offset by a $0.7 million decrease in Mobility revenues, resulting from our decision to cease providing retail mobility services under our own brand name to retail customers.
Previous report
Operating expenses within our US Telecom segment decreased $40.9 million, or 31.8%, to $87.6 million from $128.5 million for the three months ended September 30, 2025 and 2024, respectively. The three months ended September 30, 2024 included a $35.3 million impairment of goodwill. The remaining decrease is the result of certain cost savings initiatives, including reorganization and reductions in force that were implemented in current and previous periods.
Previous report
Mobility revenue decreased by $0.8 million, or 2.9%, to $26.7 million for the three months ended September 30, 2025 from $27.5 million for the three months ended September 30, 2024. The decrease in Mobility revenue, within our segments, consisted of the following:
Previous report
We do not expect to record Mobility revenue within our US Telecom segment in the future.
Previous report
Fixed revenue increased by $1.7 million, or 1.5%, to $114.5 million from $112.8 million for the three months ended September 30, 2025 and 2024, respectively. This increase pertained to a net increase in Fixed revenue from both business and consumer customers and consisted of the following:
Previous report
Within our US Telecom segment, Fixed revenue from business customers in Alaska and our western United States operations may increase as we further deploy fiber and fiber-fed broadband with capital investment and government grant funding, which will improve access for both consumers and businesses.
Previous report
Within our US Telecom segment, Carrier Services revenue may increase as a result of the impact of carrier service management contracts.
Previous report
Managed Services revenue increased by $0.5 million, or 13.2%, to $4.3 million from $3.8 million for the three months ended September 30, 2025 and 2024, respectively. The increases, within our segments, consisted of the following:
Previous report
International Telecom. Managed Services revenue in our International Telecom segment increased $0.2 million, or 16.7%, to $1.4 million from $1.2 million for the three months ended September 30, 2025 and 2024, respectively.
Previous report
US Telecom. Within our US Telecom segment, Managed Services revenue increased $0.3 million, or 11.5%, to $2.9 million from $2.6 million for the three months ended September 30, 2025 and 2024, respectively.
Previous report
initiatives, including reorganization and reductions in force, that were implemented in the current and previous periods, partially offset by an increase in cell site rents in certain locations.
Previous report
Selling, general and administrative expenses increased by $0.7 million, or 1.3%, to $54.3 million from $53.6 million for the three months ended September 30, 2025 and 2024, respectively. The net increase in selling, general and administrative expenses, within of our segments, was primarily related to increases in legal, regulatory and other professional fees, partially offset by the impact of certain cost containment initiatives, including reorganizations and reductions in force, that were implemented in the current and previous periods. The impact to each of our segments, consisted of the following:
Previous report
Stock-based compensation for the three months ended September 30, 2025 and 2024 was $2.0 million and $1.8 million, respectively.
Previous report
We incurred $3.8 million of transaction-related charges in connection with the refinancing of our Alaska subsidiary’s debt during the three months ended September 30, 2024.
Previous report
During the three months ended September 30, 2024, we incurred $0.3 million, $1.2 million and $0.8 million of restructuring and reorganization expenses in the International Telecom segment, US Telecom segment and Corporate and Other segment, respectively.
Previous report
(Gain) loss on disposition of assets, transfers and contingent consideration. During the three months ended September 30, 2025, we recorded a net loss on the disposition of assets of $1.6 million primarily in connection with the revaluation of contingent consideration relating to a prior year’s acquisition within the US Telecom segment.
Previous report
During the three months ended September 30, 2024, we recorded a loss on the disposition and transfer of assets of $1.5 million primarily relating to the disposal of certain assets within our US Telecom segment.
Previous report
**Goodwill impairment.**During the three months ended September 30, 2024, we completed our impairment assessment for our US Telecom segment after identifying events that indicated that the fair value of a reporting unit may be below its carrying value. These events included the Company’s continued shift away from wholesale roaming and retail operations towards carrier managed services and fixed broadband services, delays in completing significant network upgrade projects, the conclusion of certain government subsidy programs leading to slower consumer growth, and delays in enterprise sales and delivery. The combination of these events led to the reporting unit being unable to meet key financial and operational forecasted targets.
Previous report
As a result of that analysis, we recorded an impairment of $35.3 million during the three months ended September 30, 2024. No such impairments were recorded during the three months ended September 30, 2025.
Previous report
Interest expense may increase in future periods as a result of additional borrowings or an increase in interest rates on those borrowings.
Previous report
Other income (expense). For the three months ended September 30, 2025, other income (expense) was $0.5 million of income primarily related to gains from the settlement of an insurance claim partially offset by losses on foreign currency transactions.
Previous report
For the three months ended September 30, 2024, other income (expense) was $0.6 million of expense primarily related to a loss on the extinguishment of the 2022 Alaska Credit Facility, as discussed below.
Previous report
Income taxes. Our effective tax rate for the three months ended September 30, 2025 and 2024 was 451.5% and 23.4%, respectively.
Previous report
We recorded an income tax benefit of $12.0 million in relation to a pretax loss of $51.5 million for the three months ended September 30, 2024. The effective tax rate for the three months ended September 30, 2024 was primarily
Previous report
impacted by the following items: (i) the mix of income generated among the jurisdictions in which we operate, (ii) net expense related to valuation allowances placed on certain deferred tax assets that are not expected to be realizable based on the weight of positive and negative evidence and (iii) discrete items including a $0.8 million expense associated with sale of a partnership interest, and a $0.8 million expense for interest on unrecognized tax positions.
Previous report
International Telecom. Revenues within our International Telecom segment increased $1.8 million, or 0.6%, to $284.5 million from $282.7 million for thenine months ended September 30, 2025 and 2024, respectively, primarily as a result of an increase in revenue from ancillary services and Carrier Services revenue of $3.1 million and $0.2 million, respectively, partially offset by reductions in Fixed revenue and Mobility revenue of $0.8 million and $0.6 million, respectively.
Previous report
Operating expenses within our International Telecom segment increased by $9.7 million, or 4.3%, to $235.5 million from $225.8 million for the nine months ended September 30, 2025 and 2024, respectively. Operating expenses for the nine months ended September 30, 2024 included a $15.5 million gain on the disposition of long-lived assets, primarily real estate, which was partially offset by a $5.8 million decrease as a result of certain cost savings initiatives, including reorganization and reductions in force, that were implemented in current and previous periods.
Previous report
As a result, our International Telecom segment’s operating income decreased $7.8 million, or 13.7%, to $49.1 million from $56.9 million for the nine months ended September 30, 2025 and 2024, respectively.
Previous report
US Telecom. Revenue within our US Telecom segment decreased by $6.6 million, or 2.5%, to $259.2 million from $265.8 million for the nine months ended September 30, 2025 and 2024, respectively. The decrease was primarily a result of a $5.3 million reduction in Fixed revenues, which were negatively impacted by the April 2024 conclusion of both the Emergency Connectivity Fund and the Affordable Care Program, a $2.3 million decrease in Mobility revenue as a result of the conclusion of our providing retail mobility services, and a $1.0 million decrease in revenue from other communications services. These decreases were partially offset by increases in construction revenue of $1.8 million as a result of an increase in the number of sites completed during 2025 as compared to 2024 and Carrier Services revenue of $0.2 million.
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Reworded paragraphs (92)
Previous wording
We are a leading provider of digital infrastructure and communications services with a focus on rural and remote markets in the United States, and internationally, including Bermuda and the Caribbean region.
Current wording
We are a leading provider of digital infrastructure and communications services with a strategic focus on rural and remote markets in the US, and internationally, including Bermuda and the Caribbean region.
Previous wording
For further information about our financial segments and geographical information about our operating revenues and assets, see Notes 1 and 12 to the Consolidated Financial Statements included in this Report.
Current wording
For additional information regarding our reportable segments and geographic distribution of revenues and assets, please refer to Notes 1 and 13 of the Consolidated Financial Statements included in this Report.
Previous wording
As of September 30, 2025, we offered the following types of services to our customers:
Current wording
As of March 31, 2026, we offered the following services to our customers:
Previous wording
The following chart summarizes the operating activities of our principal subsidiaries, the segments in which we reported our revenue and the markets we served during the nine months ended September 30, 2025:
Current wording
The following chart summarizes the operating activities of our principal subsidiaries, the segments in which we reported our revenue and the markets we served as of and for the three months ended March 31, 2026:
Previous wording
In general, all telecommunications providers are obligated to contribute to the Universal Service Fund (“USF”), which is used to promote the availability of qualifying telecommunications and broadband service to low-income households, households located in rural and high-cost areas, and to schools, libraries, and rural health care providers. We contribute to the USF and also receive various forms of USF support. We are subject to audit by the Universal Service Administrative Company (“USAC”) with respect to our federal contributions and our receipts of universal service funding. To our knowledge, as of the date of this Report, we were in compliance with, in all material respects, applicable federal and state USF assessment and support requirements.
Current wording
In general, all telecommunications providers are obligated to contribute to the Universal Service Fund (“USF”), which is used to promote the availability of qualifying telecommunications and broadband service to low-income households, households located in rural and high-cost areas, and to schools, libraries, and rural health care providers. We contribute to the USF and also receive various forms of USF support. We are subject to audit by the Universal Service Administrative Company with respect to our federal contributions and our receipts of universal service funding. To our knowledge, as of the date of this Report, we were in compliance with, in all material respects, applicable federal and state USF assessment and support requirements.
Previous wording
We have also been awarded construction grants to build network connectivity for eligible communities. The funding of these grants, used to reimburse us for our construction costs, is generally distributed after we incur reimbursable costs. Completion deadlines began in 2025 and once these projects are constructed, we are obligated to provide service to the participants. We expect to meet all requirements associated with these grants. As of September 30, 2025, we were awarded $103.5 million of construction grants.
Current wording
We have also been awarded construction grants to build network connectivity for eligible communities. The funding of these grants, used to reimburse us for our construction costs, is generally distributed after we incur reimbursable costs. Once these projects are constructed, we are obligated to provide service to the participants. We expect to meet all requirements associated with these grants. As of March 31, 2026, we were awarded $100.9 million of construction grants that are pending completion.
Previous wording
During the nine months ended September 30, 2025, we disbursed capital expenditures of $16.7 million under these programs and received reimbursement of $12.6 million. These cash flows are classified as investing activities in our statement of cash flows.
Current wording
During the three months ended March 31, 2026, we disbursed capital expenditures of $5.1 million under these programs and received reimbursement of $5.1 million. These cash flows are classified as investing activities in our statement of cash flows.
Previous wording
In addition, we partner with tribal governments to obtain grants under various government grant programs including, but not limited to, the Tribal Broadband Connectivity Program (“TBCP”) and the Rural Development Broadband ReConnect Program (“ReConnect”). These programs are administered by United States government agencies to deploy broadband connectivity in certain underserved areas. We were identified as a sub recipient of grants under these programs totaling $239 million as of September 30, 2025. Through September 30, 2025, we have received $34.0 million of funding under these programs and spent $31.9 million on construction obligations. These amounts are recorded as operating cash flows in the Company’s statement of cash flows.
Current wording
In addition, we partner with tribal governments to obtain grants under various government grant programs including, but not limited to, the Tribal Broadband Connectivity Program (“TBCP”) and the Rural Development Broadband ReConnect Program (“ReConnect”). These programs are administered by US government agencies to deploy broadband connectivity in certain underserved areas. We were identified as a sub recipient of grants under these programs totaling $239 million as of March 31, 2026. Through March 31, 2026, we received $37.7 million of funding under these programs and spent $40.4 million on construction obligations. These amounts are recorded as operating cash flows in the Company’s statement of cash flows.
Previous wording
communications equipment and services in their networks that has been deemed to pose a national security risk. Pursuant to the Replace and Remove Program, our eligible subsidiaries were initially allocated up to approximately $207 million to replace, remove and securely destroy such communications equipment and services in our networks in the western United States and in the US Virgin Islands; however, in December 2024, this program was fully funded for an increased allocation to the Company of an aggregate amount of approximately $517 million. The Replace and Remove Program requires each of our participating subsidiaries to complete the project no later than a specified deadline, which was recently extended to the second quarter of 2026.
Current wording
In July 2022, we were approved to participate in the FCC’s Secure and Trusted Communications Network Reimbursement Program (the “Replace and Remove Program”), designed to reimburse providers of advanced communications services for reasonable costs incurred in the required removal, replacement, and disposal of communications equipment and services in their networks that has been deemed to pose a national security risk. Pursuant to the Replace and Remove Program, our eligible subsidiaries were initially allocated up to approximately $207 million to replace, remove and securely destroy such communications equipment and services in our networks in the western US and in the US Virgin Islands; however, in December 2024, this program was fully funded for an increased allocation to the Company of an aggregate amount of approximately $517 million. The Replace and Remove Program requires each of our participating subsidiaries to complete the project no later than a specified deadline, which was recently extended through early November 2026.
Previous wording
We have incurred total expenditures of $213.7 million related to this project, of which $45.3 million were incurred in 2025. Of these total expenditures, $177.4 million were classified as capital.
Current wording
As of March 31, 2026, we had incurred total expenditures of $233.1 million related to this project, of which $8.4 million were incurred in 2026. Of these total expenditures, $192.2 million was classified as capital.
Previous wording
At September 30, 2025, $11.0 million of capital expenditures were accrued and unpaid under the Replace and Remove Program. We expect to be reimbursed, within the next twelve months, for all amounts spent to date. During the nine months ended September 30, 2025, we received $57.7 million of reimbursement under the program, of which $9.1 million was classified as operating cash inflows and $48.6 million was classified as investing cash inflows in our statement of cash flows.
Current wording
As of March 31, 2026, $14.5 million of capital expenditures was accrued and unpaid under the Replace and Remove Program. During the three months ended March 31, 2026, we received $9.3 million of reimbursement under the program, of which $1.1 million was classified as operating cash inflows and $8.2 million was classified as investing cash inflows in our statement of cash flows. During the three months ended March 31, 2026, we determined that reimbursement was not probable for $9.0 million of capital expenditures incurred under the Replace and Remove Program. As a result, we transferred $7.0 million to assets held for sale and the remaining $2.0 million to fixed assets. Except for this $9.0 million, the Company expects to be reimbursed, within the next twelve months, for all amounts spent.
Previous wording
As a result, our International Telecom segment’s operating income increased $5.2 million, or 40.3%, to $18.1 million from $12.9 million for the three months ended September 30, 2025 and 2024, respectively.
Current wording
As a result, our International Telecom segment’s operating income increased $4.4 million, or 29.7%, to $19.2 million from $14.8 million for the three months ended March 31, 2026 and 2025, respectively.
Previous wording
As a result of the above, our US Telecom segment’s operating income increased to income of $0.4 million from a loss of $44.3 million for the three months ended September 30, 2025 and 2024, respectively.
Current wording
As a result of the above, our US Telecom segment’s operating income increased to income of $1.7 million from a loss of $2.4 million for the three months ended March 31, 2026 and 2025, respectively.
Previous wording
**Mobility Revenue.**Our Mobility revenue consists of revenue generated within our International Telecom segment by providing business and retail mobile voice and data services over our wireless networks as well as through the sale and repair services of related equipment, such as handsets and other accessories, to our subscribers. Wholesale Mobility revenue is recorded under Carrier Services Revenue.
Current wording
**Mobility Services Revenue.**Our Mobility Services revenue consists of revenue generated within our International Telecom segment by providing business and retail mobile voice and data services over our wireless networks, as well as through the sale and repair services of related equipment, such as handsets and other accessories, to our subscribers.
Previous wording
Mobility revenue within our International Telecom may decrease as a result of increased competition and regulatory changes partially offset by our continued network upgrades, marketing efforts, and conversion of our subscriber base to higher margin prepaid and postpaid plans.
Current wording
Mobility Services revenue within our International Telecom may continue to increase as a result of our continued network upgrades, marketing efforts and conversion of our current subscriber base to higher margin prepaid and postpaid plans. Such increases may, however, be negatively impacted by increased competition and regulatory changes.
Previous wording
**Fixed Revenue.**Fixed revenue is primarily generated by broadband, voice, and video service revenues provided to retail and business customers over our wireline networks. Fixed revenue within our US Telecom segment also includes awards from the CAF II program, the E-ACAM program, and the Alaska USF . In addition, and through early April 2024, Fixed revenue within the US Telecom segment also included revenue from the Emergency Connectivity Fund (“ECF”) and Affordable Care Program (“ACP”). Within our International Telecom segment, Fixed revenue includes funding under the FCC’s High-Cost Program in the US Virgin Islands.
Current wording
**Fixed Services Revenue.**Fixed Services revenue is primarily generated by broadband, voice, and video service revenues provided to retail and business customers over our wireline networks. Fixed Services revenue within our US Telecom segment also includes awards from the CAF II program, the E-ACAM program, and the Alaska USF. Within our International Telecom segment, Fixed Services revenue includes funding, through December 31, 2025, under the FCC’s High-Cost Program in the US Virgin Islands.
Previous wording
**Fixed Revenue.**Fixed revenue decreased by $6.1 million, or 1.8%, to $340.6 million from $346.7 million for the nine months ended September 30, 2025 and 2024, respectively. This decrease primarily pertained to a $7.7 million decrease in Fixed revenue from business customers, partially offset by a $1.6 million increase in revenue from consumer customers and consisted of the following:
Current wording
Fixed Services revenue decreased by $0.3 million, or 0.3%, to $112.7 million from $113.0 million for the three months ended March 31, 2026 and 2025, respectively. This decrease primarily pertained to a decrease in Fixed Services revenue from business customers and consisted of the following:
Previous wording
Fixed revenue within our International Telecom segment may increase due to investments in the fixed network combined with the popularity of video and audio streaming, the demand for cloud services and smart home, business and city solutions to increase the demand for broadband and other data services from consumers, businesses and governments. However, such increases may be offset by a decrease in demand for our legacy services, as subscribers opt for alternative methods to receive video and audio content.
Current wording
Fixed Services revenue within our International Telecom segment may continue to increase as we expect the popularity of video and audio streaming, the demand for cloud services and smart home, business and city solutions to increase the demand for broadband and other data services from consumers, businesses and governments. However, such increases may be offset by a decrease in demand for our legacy services due to subscribers using alternative methods to receive video and audio content.
Previous wording
Carrier Services Revenue. Carrier Services revenue is generated by both our International Telecom and US Telecom segments. Within our International Telecom segment, Carrier Services revenue includes international long-distance services, roaming revenues generated by other carriers’ customers roaming into our retail markets, transport services and access services provided to other telecommunications carriers. Within our US Telecom segment, Carrier Services revenue includes services provided under the FirstNet Agreement and Verizon CMS Agreement, wholesale roaming revenues, the provision of network switching services, tower lease revenue and other services provided to other carriers.
Current wording
Carrier Services Revenue. Carrier Services revenue is generated by both our International Telecom and US Telecom segments. Within our International Telecom segment, Carrier Services revenue includes international long-distance services, roaming revenues generated by other carriers’ customers roaming into our retail markets, transport services and access services provided to other telecommunications carriers. Within our US Telecom segment, Carrier Services revenue includes services provided under the Network Build and Maintenance Agreement with AT&T Mobility, LLC (“AT&T”) that we subsequently amended in May 2026 (the “FirstNet Agreement”) and Carrier Managed
Previous wording
Carrier Services revenue increased by $1.4 million, or 4.3%, to $34.1 million from $32.7 million for the three months ended September 30, 2025 and 2024, respectively. The increase, within our segments, consisted of the following:
Current wording
Carrier Services revenue increased by $3.0 million, or 9.1%, to $36.1 million from $33.1 million for the three months ended March 31, 2026 and 2025, respectively. The increase within our segments consisted of the following:
Previous wording
Within our International Telecom segment, Carrier Services revenue may increase if international travel in our markets grow.
Current wording
Within our International Telecom segment, Carrier Services revenue may continue to increase if international travel in our market grows.
Previous wording
**Other Communications Services Revenue.**Other Communications Services revenue includes ancillary services provided by operations within our International Telecom segment, as well as project-related revenue generated within both our International and US Telecom segments. Other Communications Services revenue increased $1.1 million, or 78.6%, to $2.5 million from $1.4 million for the three months ended September 30, 2025 and 2024, respectively, as a result of an increase in revenue from ancillary services in our International Telecom segment partially offset by a reduction in certain non-recurring project-related revenue recognized in our US Telecom segment.
Current wording
**Other Communications Services Revenue.**Other Communications Services revenue includes project-related revenue generated within both our International and US Telecom segments and ancillary services that the operations within our International Telecom segment provide to its retail subscribers. Other Communications Services revenue increased $1.5 million, or 83.3%, to $3.3 million from $1.8 million for the three months ended March 31, 2026 and 2025, respectively, as a result of an increase in revenue from ancillary services in our International Telecom segment.
Previous wording
Other Communication Services revenue may increase in future periods as the demand for ancillary services increase but may be partially offset by a decrease in project-related revenues as those projects are completed.
Current wording
Other Communication Services revenue may increase in future periods as the demand for ancillary services increase.
Previous wording
Construction revenue represents revenue generated within our US Telecom segment for the construction of network cell sites related to the FirstNet Agreement. During the three months ended September 30, 2025 and 2024, Construction revenue increased to $1.1 million from $0.2 million, respectively, primarily as a result of an increase in the number of sites completed during 2025 as compared to 2024. We expect to substantially complete the build related to the FirstNet Agreement by the first half of 2026.
Current wording
Construction revenue represents revenue generated within our US Telecom segment for the construction of network cell sites related to the FirstNet Agreement. As of December 31, 2025, we had substantially completed the build of AT&T’s network under the FirstNet Agreement. As a result, we did not record any construction revenue during the three months ended March 31, 2026. During the three months ended March 31, 2025, we recorded construction revenue of $1.0 million.
Previous wording
Managed Services revenue may continue to increase in both our US and International Telecom segments as a result of our continued effort to sell certain Managed Services solutions to primarily business customers in all of our markets.
Current wording
Managed Services revenue may increase in both our US and International Telecom segments as a result of our efforts to sell certain Managed Services solutions to primarily business customers in all of our markets.
Previous wording
Cost of communication services and other decreased by $1.1 million, or 1.4%, to $77.9 million from $79.0 million for the three months ended September 30, 2025 and 2024, respectively. The net decrease in cost of communication services and other, within our segments, consisted of the following:
Current wording
Cost of communication services and other decreased by $0.8 million, or 1.0%, to $77.4 million from $78.2 million for the three months ended March 31, 2026 and 2025, respectively. The net decrease in cost of communication services and other, within our segments, consisted of the following:
Previous wording
Cost of communication services in both our International and US Telecom segments may decrease as a result of the ongoing cost reduction initiatives, but such decrease may be partially offset by future inflationary pressure.
Current wording
Cost of communication services in our International Telecom segment may decrease as a result of the ongoing cost reduction initiatives that commenced in previous periods, but such decrease may be partially offset by future inflationary pressure.
Previous wording
Cost of construction revenue. Cost of construction revenue includes the expenses incurred in connection with the construction of and the delivery to AT&T of cell sites in accordance with our FirstNet Agreement. During the three months ended September 30, 2025 and 2024, cost of construction revenue increased to $1.1 million from $0.2 million, respectively, as a result of an increase in the number of sites completed during 2025 as compared to 2024. We expect to substantially complete the build during the first half of 2026.
Current wording
Cost of construction revenue. Cost of construction revenue includes the expenses incurred in connection with the construction of and the delivery to AT&T of cell sites in accordance with our FirstNet Agreement. As of December 31, 2025, we had substantially completed the build of AT&T’s network under the FirstNet Agreement. As a result, we did not record any cost of construction revenue during the three months ended March 31, 2026. During the three months ended March 31, 2025, we recorded cost of construction revenue of $1.5 million.
Previous wording
We incurred $0.4 million of transaction-related charges during the three months ended September 30, 2025.
Current wording
We incurred $0.8 million and $1.4 million of transaction-related charges during the three months ended March 31, 2026 and 2025, respectively. Such decrease was the result of the timing of our transaction-related charges.
Previous wording
**Restructuring and reorganization expenses.**In our efforts to advance our cost management actions to drive higher operating efficiencies and margins, we incurred certain restructuring and reorganization expenses, primarily related to reductions in force, totaling $0.6 million, $0.3 million and $1.1 million within our International Telecom segment, US Telecom segment and Corporate and Other segment, respectively, during the three months ended September 30, 2025.
Current wording
**Restructuring and reorganization expenses.**In our efforts to advance our cost management actions to drive higher operating efficiencies and margins, we incurred certain restructuring and reorganization expenses, primarily reductions in force, totaling $0.7 million, $0.2 million and $0.8 million within our International Telecom segment, US Telecom segment and Corporate and Other segment, respectively, during the three months ended March 31, 2026.
Previous wording
**Restructuring and reorganization expenses.**In our efforts to advance our cost management actions to drive higher operating efficiencies and margins, we incurred certain restructuring and reorganization expenses, primarily reductions in force, totaling $3.5 million, $2.8 million and $2.4 million within our International Telecom segment, US Telecom segment and Corporate and Other segment, respectively, during the nine months ended September 30, 2025.
Current wording
We incurred restructuring and reorganization expenses of $1.5 million, $0.1 million and $0.2 million within our International Telecom segment, US Telecom segment and Corporate and Other segment, respectively, during the three months ended March 31, 2025.
Previous wording
Depreciation and amortization expenses decreased by $4.4 million, or 11.8%, to $32.9 million from $37.3 million for the three months ended September 30, 2025 and 2024, respectively. The net decrease in depreciation and amortization expenses, within our segments, consisted primarily of the following:
Current wording
Depreciation and amortization expenses decreased by $3.3 million, or 9.6%, to $31.2 million from $34.5 million for the three months ended March 31, 2026 and 2025, respectively. The net decrease in depreciation and amortization expenses, within our segments, consisted primarily of the following:
Previous wording
We expect depreciation and amortization expenses to decrease as a result of the decline in capital expenditures and as a result of some of our previously acquired assets becoming fully depreciated.
Current wording
We expect depreciation and amortization expenses to continue to decrease as a result of an expected decline in capital expenditures and as a result of some of our previously acquired assets becoming fully depreciated.
Previous wording
Amortization of intangibles from acquisitions decreased by $0.8 million to $1.2 million from $2.0 million for the three months ended September 30, 2025 and 2024, respectively.
Current wording
Amortization of intangibles from acquisitions decreased by $0.7 million to $0.5 million from $1.2 million for the three months ended March 31, 2026 and 2025, respectively, as a result of certain assets being fully amortized in previous periods.
Previous wording
(Gain) loss on disposition of assets, transfers and contingent consideration. During thenine months ended September 30, 2025, we recorded a net loss on the disposition of assets of $5.0 million. Of this net loss, $0.4 million and $4.6 million were recognized within our International and US Telecom segments, respectively. Within the US Telecom segment, we recorded the revaluation of contingent consideration relating to a prior year’s acquisition within that segment.
Current wording
Loss on disposition of assets, transfers and contingent consideration. During both the three months ended March 31, 2026 and 2025, we recorded a net loss on the disposition of assets and transfers of $0.8 million. Of this net loss, $0.4 million was recognized within both our International and US Telecom segments for the three-month period ended March 31, 2026, and $0.3 million and $0.5 million was recognized within our International and US Telecom segments, respectively, for the three-month period ended March 31, 2025
Previous wording
Interest income. Interest income represents interest earned on our cash, cash equivalents, restricted cash and short-term investment balances. Interest income was $0.2 million for both the three months ended September 30, 2025 and 2024.
Current wording
Interest income. Interest income represents interest earned on our cash, cash equivalents, restricted cash and short-term investment balances. Interest income was $0.1 million and $0.3 million for the three months ended March 31, 2026 and 2025, respectively.
Previous wording
Interest expense. We incur interest expense on the 2023 CoBank Credit Facility, the 2024 Alaska Credit Facility, the Receivables Credit Facility, the Guyana Credit Facilities, the Sacred Wind Term Debt and the OneVI Debt (each defined below). In addition, interest expense includes commitment fees, letter of credit fees and the amortization of debt issuance costs.
Current wording
Interest expense. We incur interest expense on the 2023 CoBank Credit Facility, the 2024 Alaska Credit Facilities, the FirstNet Receivables Credit Facility, the IDB Credit Facilities, the Sacred Wind Term Debt and the OneVI
Previous wording
Interest expense decreased to $11.6 million from $12.7 million for the three months ended September 30, 2025 and 2024, respectively, as a result of a decrease in interest rates on borrowings under our credit facilities.
Current wording
Interest expense decreased to $10.5 million from $12.0 million for the three months ended March 31, 2026 and 2025, respectively, as a result of reduced interest rates, which were impacted by certain interest rate swap agreements, on our borrowings.
Previous wording
Other expense. For the nine months ended September 30, 2025, other expense was $2.6 million primarily related to a non-operating employee-related matter and losses on foreign currency transactions net of insurance proceeds.
Current wording
For the three months ended March 31, 2025, other expense was $2.6 million of expense primarily related to a non-operating employee-related matter and $0.4 million in losses on foreign currency transactions.
Previous wording
We recorded an income tax benefit of $9.0 million in relation to a pretax loss of $25.7 million for the nine months ended September 30, 2025. The effective tax rate for the nine months ended September 30, 2025 was primarily impacted by the following items: (i) the mix of income generated among the jurisdictions in which we operate, (ii) net expense related to valuation allowances placed on certain deferred tax assets that are not expected to be realized based on the weight of positive and negative evidence, and (iii) discrete items including a $4.9 million benefit from the reversal of an unrecognized tax position due to a statute of limitations expiration, a $1.8 million expense for interest on prior years uncertain tax positions, a $0.5 million expense associated with stock option shortfalls, and a $1.0 million benefit from the release of a capital loss carryover valuation allowance based on our conclusion that it was more likely than not that this deferred tax asset would be realized in the future.
Current wording
We recorded an income tax expense of $1.6 million in relation to a pretax loss of $1.9 million for the three months ended March 31, 2026. The effective tax rate for the three months ended March 31, 2026 was primarily impacted by the following items: (i) the mix of income generated among the jurisdictions in which we operate, (ii) the exclusion of losses in Alaska and the US Virgin Islands due to valuation allowance positions placed on certain deferred tax assets that are not expected to be realized based on the weight of positive and negative evidence, and (iii) discrete expenses including $0.3 million for interest on prior years uncertain tax positions and $0.3 million expense associated with stock option shortfalls.
Showing the first 40 of 92 pairs. Open the source sections for the rest.
Rearranged current paragraphs (5)
Current report — wording carried from elsewhere
Services Master Agreement that we subsequently amended in May 2026 (the “Verizon CMS Agreement”) with Cellco Partnership d/b/a Verizon Wireless (“Verizon”), wholesale roaming revenues, the provision of network switching services, tower lease revenue and other services provided to other carriers.
Current report — wording carried from elsewhere
Debt (each as defined below). In addition, interest expense includes commitment fees, letter of credit fees and the amortization of debt issuance costs.
Current report — wording carried from elsewhere
Amounts outstanding under the 2024 Alaska Credit Facility bear an interest rate equal to, at our option, either (i) the SOFR plus an applicable margin ranging between 3.00% to 4.50% or (ii) a base rate plus an applicable margin ranging from 2.00% to 3.50%. Swingline loans bear interest at the base rate plus the applicable margin for base rate loans. We also pay a fee ranging from 0.25% to 0.40% on the average daily unused portion of the 2024 Alaska Credit Facility over each calendar quarter.
Current report — wording carried from elsewhere
federal and state licenses where a pledge is prohibited by applicable law or is permitted only with the consent of a governmental authority that has not been obtained.
Current report — wording carried from elsewhere
anniversary of the effective date. The 2025 IDB Revolving Loan may be repaid at any time on, or prior to, its maturity of 360 days after the first disbursement date.
Rearranged previous paragraphs (15)
Previous report — wording carried elsewhere
In July 2022, we were approved to participate in the FCC’s Secure and Trusted Communications Networks Reimbursement Program (the “Replace and Remove Program”), designed to reimburse providers of advanced communications services for reasonable costs incurred in the required removal, replacement, and disposal of
Previous report — wording carried elsewhere
**Net income (loss) attributable to ATN International, Inc. stockholders.**Net income (loss) attributable to ATN International, Inc. stockholders was income of $4.3 million for the three months ended September 30, 2025, as compared to a loss of $32.7 million for the three months ended September 30, 2024.
Previous report — wording carried elsewhere
The following represents selected segment information for the nine months ended September 30, 2025 and 2024 (in thousands):
Previous report — wording carried elsewhere
A comparison of our segment results for the nine months ended September 30, 2025 and 2024 is as follows:
Previous report — wording carried elsewhere
The following represents a year over year discussion and analysis of our results of operations for the nine months ended September 30, 2025 and 2024 (in thousands):
Previous report — wording carried elsewhere
Our effective tax rate is based upon estimated income before taxes for the year, composition of the income in different countries, and adjustments, if any, in the applicable quarterly periods for potential tax consequences, benefits and/or resolutions of tax contingencies. Our consolidated tax rate will continue to be impacted by any transactional or one-time items in the future and the mix of income in any given year generated among the jurisdictions in which we operate. While we believe we have adequately provided for all tax positions, amounts asserted by taxing authorities could materially differ from our accrued positions as a result of uncertain and complex application of tax law and
Previous report — wording carried elsewhere
regulations. Additionally, the recognition and measurement of certain tax benefits include estimates and judgments by management. Accordingly, we could record additional provisions or benefits for US federal, state, and foreign tax matters in future periods as new information becomes available.
Previous report — wording carried elsewhere
Net loss attributable to noncontrolling interests, net of tax. Net loss attributable to noncontrolling interests, net of tax reflected an allocation of $5.1 million and $6.1 million of losses generated by our less than wholly owned subsidiaries for the nine months ended September 30, 2025 and 2024, respectively. Changes in net loss attributable to noncontrolling interests, net of tax, within our segments, consisted of the following:
Previous report — wording carried elsewhere
On a per diluted share basis, net loss was $1.06 per diluted share for the nine months ended September 30, 2025, as compared to $2.24 million for the nine months ended September 30, 2024. Such per share amounts were negatively impacted by accrued preferred dividends of $4.5 million and $4.2 million for thenine months ended September 30, 2025 and 2024, respectively.
Previous report — wording carried elsewhere
Historically, we have met our operational liquidity needs and have funded our capital expenditures and acquisitions through a combination of cash-on-hand, internally generated funds, borrowings under our credit facilities,
Previous report — wording carried elsewhere
The maturity date for the 2024 Alaska Credit Facility is August 29, 2029.
Previous report — wording carried elsewhere
Amounts outstanding under the 2024 Alaska Credit Facility bear an interest rate of the following:
Previous report — wording carried elsewhere
The 2024 Alaska Credit Agreement contains usual and customary affirmative and negative covenants of the parties for credit facilities of this type or as otherwise deemed appropriate by the administrative agent, subject to customary exceptions and materiality standards.
Previous report — wording carried elsewhere
Alaska Credit Facility”) to provide a Revolving Credit Commitment of $75.0 million (the “2022 Alaska Revolving Facility”) and Term Loan Commitment of $230.0 million (the “2022 Alaska Term Loan”).
Previous report — wording carried elsewhere
2025 and 2024, we recorded $1.6 million and $0.6 million, respectively, in losses on foreign currency transactions. We will continue to assess the impact of our exposure to the Guyana Dollar.