New Risk • Jul 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.6% Last year net profit margin: 6.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (₱54m revenue, or US$869k). Minor Risks Profit margins are more than 30% lower than last year (2.6% net profit margin). Market cap is less than US$100m (₱2.83b market cap, or US$46.0m). Reported Earnings • Jul 12
Full year 2026 earnings released: EPS: ₱0 (vs ₱0 in FY 2025) Full year 2026 results: EPS: ₱0 (in line with FY 2025). Revenue: ₱53.5m (up 33% from FY 2025). Net income: ₱1.37m (down 46% from FY 2025). Profit margin: 2.6% (down from 6.2% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 15
Third quarter 2026 earnings released Third quarter 2026 results: Revenue: ₱12.0m (down 37% from 3Q 2025). Net income: ₱787.3k (down 81% from 3Q 2025). Profit margin: 6.6% (down from 22% in 3Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 19
Second quarter 2026 earnings released: EPS: ₱0 (vs ₱0 in 2Q 2025) Second quarter 2026 results: EPS: ₱0 (in line with 2Q 2025). Revenue: ₱8.14m (up 28% from 2Q 2025). Net loss: ₱14.4k (down 105% from profit in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Duyuru • Sep 30
ATN Holdings, Inc., Annual General Meeting, Nov 13, 2025 ATN Holdings, Inc., Annual General Meeting, Nov 13, 2025. Location: teleconferencing via zoom meeting, United States Reported Earnings • Aug 20
First quarter 2026 earnings released First quarter 2026 results: Revenue: ₱14.6m (up 481% from 1Q 2025). Net income: ₱617.4k (up ₱4.02m from 1Q 2025). Profit margin: 4.2% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Jul 11
Full year 2025 earnings released: EPS: ₱0 (vs ₱0.001 loss in FY 2024) Full year 2025 results: EPS: ₱0 (improved from ₱0.001 loss in FY 2024). Revenue: ₱40.3m (up 233% from FY 2024). Net income: ₱2.50m (up ₱9.75m from FY 2024). Profit margin: 6.2% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Feb 18
Third quarter 2025 earnings released Third quarter 2025 results: Net income: ₱4.23m (up ₱4.66m from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 20
Second quarter 2025 earnings released Second quarter 2025 results: Net income: ₱303.5k (up ₱2.00m from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Duyuru • Oct 03
ATN Holdings, Inc., Annual General Meeting, Dec 12, 2024 ATN Holdings, Inc., Annual General Meeting, Dec 12, 2024, at 13:30 W. Australia Standard Time. Reported Earnings • Aug 20
First quarter 2025 earnings released First quarter 2025 results: Net loss: ₱3.40m (loss widened 41% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 18
Full year 2024 earnings released: ₱0.001 loss per share (vs ₱0 in FY 2023) Full year 2024 results: ₱0.001 loss per share (further deteriorated from ₱0 in FY 2023). Net loss: ₱7.25m (loss widened 130% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Recent Insider Transactions • Jun 15
Chairman recently bought ₱1.0m worth of stock On the 11th of June, Arsenio Ng bought around 2m shares on-market at roughly ₱0.57 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱13m. Despite this recent buy, Arsenio has been a net seller over the last 12 months, reducing personal holdings by ₱3.7m. Recent Insider Transactions • May 30
Chairman recently sold ₱2.9m worth of stock On the 27th of May, Arsenio Ng sold around 5m shares on-market at roughly ₱0.58 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₱8.6m. Arsenio has been a net seller over the last 12 months, reducing personal holdings by ₱1.8m. Recent Insider Transactions • May 18
Chairman recently bought ₱271k worth of stock On the 16th of May, Arsenio Ng bought around 467k shares on-market at roughly ₱0.58 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱708k. Arsenio has been a buyer over the last 12 months, purchasing a net total of ₱1.1m worth in shares. Recent Insider Transactions • May 04
Chairman recently bought ₱708k worth of stock On the 30th of April, Arsenio Ng bought around 1m shares on-market at roughly ₱0.54 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Arsenio's only on-market trade for the last 12 months. New Risk • Apr 04
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₱7.6m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 72% per year over the past 5 years. Revenue is less than US$1m (₱19m revenue, or US$338k). Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Significant insider selling over the past 3 months (₱7.6m sold). Market cap is less than US$100m (₱4.25b market cap, or US$75.2m). Reported Earnings • Feb 16
Third quarter 2024 earnings released Third quarter 2024 results: Net loss: ₱431.6k (down 142% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 22
Second quarter 2024 earnings released Second quarter 2024 results: Net loss: ₱1.70m (loss widened 499% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Duyuru • Sep 27
ATN Holdings, Inc., Annual General Meeting, Nov 09, 2023 ATN Holdings, Inc., Annual General Meeting, Nov 09, 2023, at 13:30 Singapore Standard Time. Agenda: To consider proof of Notice of the Meeting; to consider proof of Presence of a quorum; to consider approval of the previous annual minutes of meeting last November 10, 2022; to consider report of the President and Approval of the FY March 31, 2023 Audited Financial Statements; to consider general ratification of the acts of the Board of Directors, Board Committees, and the Management from the date of the last annual stockholders' meeting up to date of this meeting; to consider election of Directors; to consider appointment of Independent Auditors; and to consider adjournment. Reported Earnings • Aug 23
First quarter 2024 earnings released First quarter 2024 results: Net loss: ₱2.41m (loss narrowed 2.7% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 20
Full year 2023 earnings released Full year 2023 results: Net loss: ₱3.15m (down 222% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Recent Insider Transactions • May 04
Insider recently bought ₱4.6m worth of stock On the 28th of April, Diana Ng bought around 12m shares on-market at roughly ₱0.39 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱24m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 10
Insider recently bought ₱3.0m worth of stock On the 2nd of March, Diana Ng bought around 8m shares on-market at roughly ₱0.39 per share. This transaction amounted to 49% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱5.2m. Insiders have collectively bought ₱15m more in shares than they have sold in the last 12 months. Reported Earnings • Feb 16
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ₱13.6m (up 89% from 3Q 2022). Net income: ₱1.02m (up ₱1.79m from 3Q 2022). Profit margin: 7.5% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 12
Insider recently bought ₱4.8m worth of stock On the 3rd of February, Diana Ng bought around 13m shares on-market at roughly ₱0.38 per share. This transaction amounted to 46% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱12m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jan 29
VP & Director recently bought ₱4.1m worth of stock On the 26th of January, Twinie Ng bought around 10m shares on-market at roughly ₱0.41 per share. This transaction increased Twinie's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱7.1m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 10
Insider recently bought ₱1.2m worth of stock On the 2nd of December, Diana Ng bought around 3m shares on-market at roughly ₱0.35 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱1.2m. Insiders have collectively bought ₱3.0m more in shares than they have sold in the last 12 months. Reported Earnings • Nov 19
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ₱8.06m (up 92% from 2Q 2022). Net loss: ₱283.8k (loss narrowed 86% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 7 highly experienced directors. 3 independent directors (8 non-independent directors). Independent Director Paul Cheah was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Sep 28
ATN Holdings, Inc., Annual General Meeting, Nov 10, 2022 ATN Holdings, Inc., Annual General Meeting, Nov 10, 2022, at 13:30 Singapore Standard Time. Location: 8TH Floor, Summit One Tower Parking Building, 530 Shaw Boulevard, Mandaluyong City Mandaluyong City Philippines Agenda: To consider the previous annual minutes of meeting last November 25, 2021; to discuss report of the President and Approval of the fiscal year March 31 2022 Audited Financial Statements; to discuss general ratification of the acts of the Board of Directors, Board Committees, and the Management from the date of the last annual stockholders's meeting up to date of this meeting; to discuss the election of Directors; and to appointment of Independent Auditors. Reported Earnings • Jul 23
Full year 2022 earnings released: EPS: ₱0.001 (vs ₱0.001 loss in FY 2021) Full year 2022 results: EPS: ₱0.001 (up from ₱0.001 loss in FY 2021). Revenue: ₱35.2m (up 90% from FY 2021). Net income: ₱2.58m (up ₱6.54m from FY 2021). Profit margin: 7.3% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Paul Cheah was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Second quarter 2022 earnings released Second quarter 2022 results: Net loss: ₱2.01m (loss widened 265% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 122 percentage points per year, which is a significant difference in performance. Duyuru • Aug 20
ATN Holdings, Inc.(PSE:ATNB) dropped from PSE All Share Index ATN Holdings, Inc. has been removed from Philippines All Share Index. Reported Earnings • Aug 09
Full year 2021 earnings released Full year 2021 results: Net loss: ₱3.96m (loss narrowed 39% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Executive Departure • Jun 15
Independent Director Chee Cheah has left the company On the 8th of June, Chee Cheah's tenure as Independent Director ended. As of March 2021, Chee still personally held only 1.00k shares (₱520 worth at the time). Chee is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.04 years. Duyuru • Jan 29
ATN Holdings, Inc. Is Set to Fully Resumes Operations After the Reinstatement of Its Mineral Processing Permit ATN Holdings, Inc. is set to fully resume operations after the reinstatement of its Mineral Processing Permit. In an official written correspondence, the Mines and Geosciences Bureau Regional Office No. IV, stated that quarrying operations in the Rizal Province was not the proximate cause of the flooding incident in Marikina City on November 12, 2020. In the same letter, and after due validation, ATN has been deemed compliant with all indicated recommended actions. During the downtime period, ATN strategically conducted equipment maintenance work, roadside clearing and other site improvement activities. In addition, ATN extended immediate assistance to areas that were affected by the flooding caused by the heavy rainfall brought about by Typhoon Ulysses. Previously, ATN has declared its unwavering commitment to the government's flagship "Build, Build, Build" infrastructure program. For 2021, the government has approved a national budget of 4.5-trillion of which approximately 29% equivalent to 1.3-trillion is allocated for infrastructure development. Is New 90 Day High Low • Jan 26
New 90-day low: ₱0.76 The company is down 17% from its price of ₱0.92 on 29 October 2020. The Filipino market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 18% over the same period. Is New 90 Day High Low • Nov 28
New 90-day high: ₱1.03 The company is up 84% from its price of ₱0.56 on 28 August 2020. The Filipino market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 25% over the same period. Is New 90 Day High Low • Nov 03
New 90-day high: ₱0.95 The company is up 58% from its price of ₱0.60 on 05 August 2020. The Filipino market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 10.0% over the same period. Is New 90 Day High Low • Oct 14
New 90-day high: ₱0.67 The company is up 12% from its price of ₱0.60 on 16 July 2020. The Filipino market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 6.0% over the same period. 
