大西洋电讯网络国际 2024年度报告

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.Yes◻No⌧ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports) and (2)hasbeen subject to such filing requirements for the past 90days.Yes⌧No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule405 of RegulationS-T during the preceding 12months (or for such shorter period that the registrant was required to submit suchfiles).Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act.: Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness ofits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accountingfirm that prepared or issued its audit report.☒If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Definitive Proxy Statement for the 2025 Annual Meeting of Stockholders are incorporated byreference into PartIII of this Form10-K. TABLE OF CONTENTS PageSpecial Note Regarding Forward Looking Statements1PART I2Item1.Business2Strategy2Overview3Human Capital10US Federal Regulation11US State Regulation14US Virgin Islands Regulation15Guyana Regulation15Bermuda Regulation15Item1A.Risk Factors16Item1B.Unresolved Staff Comments24Item 1C.Cybersecurity25Item2.Properties26Item3.Legal Proceedings27Item4.Mine Safety Disclosures28Information About Our Executive Officers28PART II29Item5.Market for Registrant’s Common Equity, Related Stockholder Mattersand Issuer Purchases of Equity Securities29Item7.Management’s Discussion and Analysis of Financial Condition andResults of Operations31Overview31Results of Operations: Years Ended December31, 2024 and 202338Regulatory and Tax Issues45Liquidity and Capital Resources45Recent Accounting Pronouncements57Item7A.Quantitative and Qualitative Disclosures About Market Risk57Item8.Financial Statements and Supplementary Data58Item9.Changes in and Disagreements With Accountants on Accounting andFinancial Disclosure58Item9A.Controls and Procedures58Evaluation of Disclosure Controls and Procedures58Management’s Report on Internal Control over Financial Reporting59Changes in Internal Control over Financial Reporting59Item9B.Other Information59Item9C.Disclosure Regarding Foreign Jurisdictions That Prevent Inspections60PARTIII60Item10.Directors, Executive Officers and Corporate Governance60Item11.Executive Compensation63Item12.Security Ownership of Certain Beneficial Owners and Management andRelated Stockholder Matters63Item13.Certain Relationships and Related Transactions, and DirectorIndependence63Item14.Principal Accountant Fees and Services63PARTIV63Item15.Exhibits, Financial Statement Schedules63Item16.Form 10-K Summary68Signatures68Index to Consolidated Financial StatementsF-1 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this “Report”) contains forward-looking statementsrelating to, among other matters, our future financial performance and results of operations; the impactof federal support program revenues; expectations regarding future revenue, operating income,EBITDA and capital expenditures; the competitive environment in our key markets, demand for ourservices and industry trends; expectations regarding litigation; our liquidity; and management’s plansand strategy for the future. These forward-looking statements are based on estimates, projections,beliefs, and assumptions and are not guarantees of future events or results.Actual future events andresults could differ materially from the events and results indicated in these statements as a result ofmany factors, including, among others, (1) the general performance of our operations, includingoperating margins, revenues, capital expenditures, and the retention of and future growth of oursubscriberbase and ARPU;(2)our ability to replace and remove all prohibited mobiletelecommunications equipment in our US network on the timeframe and at the cost a