WOODLANG PARK, N.J., Nov. 12, 2025 (GLOBE NEWSWIRE) -- Anterix $(ATEX)$ today announced its second quarter fiscal 2026 results and filed its Form 10-Q for the three and six months ended September 30, 2025. The Company also issued an update on its Demonstrated Intent metric which can be found on Anterix's website at https://investors.anterix.com/events-presentations.
Financial and Operational Highlights
-- Received $29 million of contracted proceeds from customers with
$114 million of contracted proceeds outstanding
-- Accelerated $19 million in customer proceeds into fiscal 2026 with over
$60 million of proceeds expected to be received by the end of fiscal 2026
-- Launched suite of solutions and services offerings, TowerXTM and
CatalyX$(R)$, representing an annual total addressable market opportunity
of roughly $1 billion dollars
-- TowerX is a first-of-its-kind tower optimization and access
program, providing access to 40,000+ tower sites while enabling
faster deployment of 900 MHz private wireless networks for
utilities
-- CatalyX is a solution using cutting-edge SIM and eSIM management
to allow utilities to deploy their private wireless networks
faster while seamlessly using commercial broadband where needed
-- Exchanged narrowband for broadband licenses in 99 counties and recorded a
$60 million gain on exchange of broadband licenses
-- Delivered broadband licenses covering 26 counties to customers and
recorded an $11 million gain on sale of broadband licenses
-- Invested $13 million in spectrum clearing costs
-- Continued to advance approximately $3 billion pipeline of prospective
contract opportunities across 60+ potential customers
Liquidity and Balance Sheet
At September 30, 2025, the Company had no debt and cash and cash equivalents of $39.1 million. In addition, the Company had a restricted cash balance of $9.4 million in escrow deposits.
The Company has an authorized share repurchase program for up to $250.0 million of the Company's common stock on or before September 21, 2026. In the fiscal 2026 second quarter, Anterix had share repurchase activity of $1.0 million and approximately $226.7 million remains under the share repurchase program as of September 30, 2025
Conference Call Information
Anterix senior management will hold an analyst and investor conference call to provide a business update at 9:00 A.M. ET on Wednesday, November 13, 2025. Participants interested in joining the call's live question and answer session are required to pre-register by clicking on the following link https://investors.anterix.com/events/event-details/q2-fy2026-anterix-earnings-conference-call to obtain a dial-in number and unique PIN. It is recommended that you join the call at least 10 minutes before the conference call begins. The call is also being webcast live and will be accessible on the Investor Relations section of Anterix's website at https://investors.anterix.com/events-presentations. Following the event, a replay of the call will also be available on the Anterix website.
About Anterix Inc.
At Anterix, we work with leading utilities and technology companies to harness the power of 900 MHz broadband for modernized grid solutions. Leading an ecosystem of more than 125 members, we offer utility-first solutions to modernize the grid and solve the challenges that utilities are facing today. As the largest holder of licensed spectrum in the 900 MHz band (896-901/935-940 MHz) throughout the contiguous United States, plus Alaska, Hawaii, and Puerto Rico, we are uniquely positioned to enable private wireless broadband solutions that support cutting-edge advanced communications capabilities for a cleaner, safer, and more secure energy future. To learn more and join the 900 MHz movement, please visit www.anterix.com.
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future events or achievements such as statements in this press release related to Anterix's business, financial results, outlook, or opportunities. Actual events or results may differ materially from those contemplated in this press release. Forward-looking statements speak only as of the date they are made and readers are cautioned not to put undue reliance on such statements, as they are subject to a number of risks and uncertainties that could cause Anterix's actual future results to differ materially from results indicated in the forward-looking statement. Such statements are based on assumptions that could cause actual results to differ materially from those in the forward-looking statements, including: (i) the timing of payments under customer agreements; (ii) Anterix's ability to clear the 900 MHz Broadband Spectrum on a timely basis and on commercially reasonable terms; (iii) Anterix's ability to timely secure broadband licenses; (iv) Anterix's ability to successfully commercialize its spectrum assets to its targeted utility customers in accordance with its plans and expectations; (v) Anterix's ability to execute on its customer engagement initiatives; (vi) the timing and outcome of Anterix's strategic review process; (vii) whether Anterix will be able to identify, develop or execute on any actions as a result of its strategic review process and (viii) competition in the market for spectrum and spectrum solutions offered by Anterix. Actual events or results may differ materially from those contemplated in this press release. Anterix's filings with the Securities and Exchange Commission ("SEC"), which you may obtain for free at the SEC's website at http://www.sec.gov, discuss some of the important risk factors that may affect the Company's financial outlook, business, results of operations and financial condition. Anterix undertakes no obligation to update publicly or revise any forward-looking statements contained herein.
Shareholder Contact
Natasha Vecchiarelli
Vice President, Investor Relations & Corporate Communications
Anterix
973-531-4397
nvecchiarelli@anterix.com
Anterix Inc.
Earnings Release Tables
Consolidated Balance Sheets
(Unaudited, in thousands, except share and per share
data)
September 30, 2025 March 31, 2025
-------------------- ------------------
ASSETS
Current assets
Cash and cash equivalents $ 39,070 $ 47,374
Non-trade receivable -- 2,926
Spectrum receivable 7,549 7,107
Escrow deposits 8,993 547
Prepaid expenses and other
current assets 3,192 2,801
--------------- -----------
Total current assets 58,804 60,755
Escrow deposits 407 7,103
Property and equipment, net 1,018 1,302
Right of use assets, net 4,313 4,829
Intangible assets 325,320 228,983
Deferred broadband costs 29,076 28,944
Other assets 1,437 1,188
--------------- -----------
Total assets $ 420,375 $ 333,104
=============== ===========
LIABILITIES AND STOCKHOLDERS'
EQUITY
Current liabilities
Accounts payable and other
accrued expenses $ 14,820 $ 9,075
Accrued severance and other
related charges 2,697 2,265
Due to related parties -- 30
Operating lease liabilities 1,430 1,643
Contingent liability 8,802 8,093
Deferred revenue 6,872 6,095
--------------- -----------
Total current liabilities 34,621 27,201
Operating lease liabilities 3,300 3,747
Contingent liability 7,104 15,336
Deferred revenue 123,544 118,577
Deferred gain on sale of
intangible assets 4,911 4,911
Deferred income tax 6,486 6,606
Other liabilities 62 125
--------------- -----------
Total liabilities 180,028 176,503
--------------- -----------
Commitments and contingencies
(See Note 12)
Stockholders' equity
Preferred stock, $0.0001 par
value per share, 10,000,000
shares authorized and no
shares outstanding at
September 30, 2025 and March
31, 2025 -- --
Common stock, $0.0001 par
value per share, 100,000,000
shares authorized and
18,707,440 shares issued and
outstanding at September 30,
2025 and 18,612,804 shares
issued and outstanding at
March 31, 2025 2 2
Additional paid-in capital 554,562 548,542
Accumulated deficit (314,217) (391,943)
--------------- -----------
Total stockholders' equity 240,347 156,601
--------------- -----------
Total liabilities and
stockholders' equity $ 420,375 $ 333,104
=============== ===========
Anterix Inc.
Earnings Release Tables
Consolidated Statements of Operations
(Unaudited, in thousands, except share and per share
data)
Three months ended Six months ended
September 30, September 30,
-------------------------- ----------------------------
2025 2024 2025 2024
Spectrum revenue $ 1,552 $ 1,551 $ 2,970 $ 3,076
Operating expenses
General and
administrative 8,398 11,397 18,847 24,248
Sales and
support 1,449 1,357 2,942 3,207
Product
development 1,212 1,776 2,332 3,526
Severance and
other related
charges 735 -- 1,355 --
Depreciation
and
amortization 133 151 257 330
---------- ---------- ---------- ----------
Operating
expenses 11,927 14,681 25,733 31,311
---------- ---------- ---------- ----------
Gain on
exchange of
intangible
assets, net (59,602) -- (93,518) (93)
Gain on sale of
intangible
assets, net (11,469) -- (12,430) --
Loss from
disposal of
long-lived
assets, net 21 -- 29 --
---------- ---------- ---------- ----------
Income
(loss) from
operations 60,675 (13,130) 83,156 (28,142)
Interest income 379 585 821 1,279
Other income -- 9 -- 25
Income (loss)
before income
taxes 61,054 (12,536) 83,977 (26,838)
Income tax expense 7,518 230 5,261 1,452
---------- ---------- ---------- ----------
Net income
(loss) $ 53,536 $ (12,766) $ 78,716 $ (28,290)
========== ========== ========== ==========
Net income (loss)
per common share
basic $ 2.86 $ (0.69) $ 4.22 $ (1.53)
Net income (loss)
per common share
diluted $ 2.86 $ (0.69) $ 4.21 $ (1.53)
Weighted-average
common shares
used to compute
basic net income
(loss) per share 18,687,082 18,586,075 18,654,570 18,531,169
Weighted-average
common shares
used to compute
diluted net
income (loss) per
share 18,705,801 18,586,075 18,710,311 18,531,169
Anterix Inc.
Earnings Release Tables
Consolidated Statements of Cash Flows
(Unaudited, in thousands)
Three months ended Six months ended
September 30, September 30,
-------------------- ----------------------
2025 2024 2025 2024
------- -------
CASH FLOWS FROM
OPERATING
ACTIVITIES
Net income (loss) $ 53,536 $(12,766) $ 78,716 $(28,290)
Adjustments to
reconcile net
income (loss) to
net cash provided
by (used in)
operating
activities
Depreciation
and
amortization 133 151 257 330
Stock
compensation
expense 2,947 3,408 6,579 7,754
Deferred
income taxes 2,387 332 (120) 1,389
Right of use
assets 403 398 516 832
Gain on
exchange of
intangible
assets, net (59,602) -- (93,518) (93)
Gain on sale
of intangible
assets, net (11,469) -- (12,430) --
Loss from
disposal of
long-lived
assets, net 21 -- 29 --
Changes in
operating
assets and
liabilities
Non-trade
receivable -- -- 2,926 --
Prepaid
expenses and
other
assets (26) 551 351 1,525
Accounts
payable and
other
accrued
expenses 4,668 21 2,112 (1,537)
Accrued
severance
and other
related
charges 337 -- 432 --
Due to
related
parties (30) -- (30) --
Operating
lease
liabilities (474) (501) (660) (1,032)
Contingent
liability 6,371 -- 7,425 10,000
Deferred
revenue 2,202 5,940 5,744 4,415
Other
liabilities -- (182) (65) (302)
------- ------- ------- -------
Net cash
provided by
(used in)
operating
activities 1,404 (2,648) (1,736) (5,009)
------- ------- ------- -------
CASH FLOWS FROM
INVESTING
ACTIVITIES
Purchases of
intangible assets
and other related
costs (13,181) (5,504) (17,147) (10,904)
Proceeds from sale
of spectrum 12,577 -- 13,878 --
Purchases of
equipment -- (41) -- (41)
------- ------- ------- -------
Net cash
used in
investing
activities (604) (5,545) (3,269) (10,945)
------- ------- ------- -------
CASH FLOWS FROM
FINANCING
ACTIVITIES
Proceeds from
stock option
exercises 157 343 157 1,960
Repurchases of
common stock (990) -- (990) (2,027)
Payments of
withholding tax
on net issuance
of restricted
stock (74) (705) (716) (1,366)
------- ------- ------- -------
Net cash
used in
financing
activities (907) (362) (1,549) (1,433)
------- ------- ------- -------
Net change
in cash and
cash
equivalents
and
restricted
cash (107) (8,555) (6,554) (17,387)
CASH AND CASH
EQUIVALENTS AND
RESTRICTED CASH
Cash and cash
equivalents and
restricted cash
at beginning of
the period 48,577 59,292 55,024 68,124
------- ------- ------- -------
Cash and cash
equivalents and
restricted cash
at end of the
period $ 48,470 $ 50,737 $ 48,470 $ 50,737
------- ------- ------- -------
Three months ended Six months ended
September 30, September 30,
2025 2024 2025 2024
----- -----
SUPPLEMENTAL
DISCLOSURE OF CASH
FLOW INFORMATION
Cash paid during the
period:
Taxes paid,
including
excise tax $ 859 $ 885 $ 859 $ 885
Operating
leases paid $ 546 $ 606 $ 1,115 $1,199
Non-cash investing
activity:
Capitalized
change in
estimated
asset
retirement
obligations $ 77 $ -- $ 63 $ --
Network
equipment
provided in
exchange for
wireless
licenses $ -- $ -- $ -- $ 47
Derecognition
of contingent
liability
related to
sale of
intangible
assets $ 13,776 $ -- $ 14,948 $ --
Right of use
assets new
leases $ -- $ 42 $ 321 $ 290
Right of use
assets
modifications
and renewals $ 10 $ 850 $ 47 $1,097
The following tables provide a reconciliation of cash
and cash equivalents and restricted cash reported
on the Consolidated Balance Sheets that sum to the
total of the same such amounts on the Consolidated
Statements of Cash Flows:
September 30, 2025 June 30, 2025 March 31, 2025
------------------- --------------- ----------------
Cash and cash
equivalents $ 39,070 $ 41,432 $ 47,374
Escrow deposits 9,400 7,145 7,650
--- -------------- ----------- ------------
Total cash
and cash
equivalents
and
restricted
cash $ 48,470 $ 48,577 $ 55,024
=== ============== =========== ============
September 30, 2024 June 30, 2024 March 31, 2024
------------------- --------------- ----------------
Cash and cash
equivalents $ 43,129 $ 51,715 $ 60,578
Escrow deposits 7,608 7,577 7,546
--- -------------- ----------- ------------
Total cash
and cash
equivalents
and
restricted
cash $ 50,737 $ 59,292 $ 68,124
=== ============== =========== ============
Anterix Inc.
Earnings Release Tables
Other Financial Information
(Unaudited, in thousands except per share data)
Three months ended Six months ended
September 30, September 30,
------------------------ --------------------
2025 2024 2025 2024
Number of shares
repurchased and
retired 43 -- 43 63
Average price paid per
share* $ 22.94 $ -- $ 22.94 $ 32.47
Total cost to
repurchase $ 990 $ -- $ 990 $ 2,027
* Average price paid per share includes costs associated with the repurchases, excluding excise taxes associated with the share repurchases.
As of September 30, 2025, $226.7 million is remaining under the share repurchase program.
(END) Dow Jones Newswires
November 12, 2025 17:20 ET (22:20 GMT)
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