Core Insights - Anterix has launched the AnterixAccelerator initiative with an investment of up to $250 million to support utilities in deploying 900 MHz private LTE networks, reflecting a strong commitment to enhancing private wireless broadband in the utility sector [1][2] - The initiative has garnered significant interest from over 15 utilities and current Anterix customers, indicating a pressing need for reliable and scalable private networks [1] - Anterix holds a unique position in the market with extensive expertise, a valuable 900 MHz spectrum asset, and a robust ecosystem of over 120 technology and solution providers, which positions the company to lead in making private wireless networks more accessible for utilities [2][3] Company Positioning - Anterix is recognized as the market leader in private wireless broadband, with seven leading utility customers and nearly $400 million in contracts for deploying 900 MHz private wireless broadband networks [3] - The company has zero debt, which strengthens its financial position and ability to accelerate technological evolution in the utility industry [3] - Anterix's extensive partnerships with leading utilities and technology companies aim to modernize grid solutions and address current challenges faced by utilities [4] Industry Context - The utility sector is increasingly recognizing the importance of private wireless networks for enhancing communication systems, which is critical for modernizing infrastructure [2][4] - Anterix's leadership in the 900 MHz spectrum band positions it uniquely to support advanced communications capabilities, contributing to a cleaner and more secure energy future [4]

Financial Data and Key Metrics Changes - Anterix reported an incremental cash increase of $34 million due to strategic initiatives with select customers, received at the end of January [32] - The company has approximately $29 million in cash on its balance sheet as of December 31, 2024, and is scheduled to receive roughly $80 million during the fiscal year ending March 31, 2026 [33] - A 20% reduction in operational expenses has been identified, enhancing efficiency and increasing cash flows [34] Business Line Data and Key Metrics Changes - The company announced a $13.5 million expansion agreement with the Lower Colorado River Authority, extending broadband coverage to 102 counties in Texas [7] - The total coverage across 15 states where Anterix has contracted with utilities now exceeds that of US Cellular [8] Market Data and Key Metrics Changes - Anterix has signed contracts to deploy 900 megahertz private wireless broadband networks valued at nearly $400 million, with a strong pipeline of opportunities [24][106] - The company is positioned to serve a significant portion of the U.S. population, with previous deals covering approximately 43 million people [61] Company Strategy and Development Direction - Anterix aims to lead the private wireless broadband market for utilities, focusing on expanding its ecosystem and partnerships [17][19] - The company has launched a strategic review process with Morgan Stanley to explore opportunities that will accelerate growth [23] - Anterix is committed to delivering value to shareholders and customers while improving operational efficiency [10][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's business strategy and the potential for aggressive pricing and new contracts [11] - The leadership emphasized the urgency and interest from utilities to adopt private broadband solutions, driven by successful use cases [50][114] - The company is optimistic about the future, citing a strong financial position and a robust pipeline of contracts [24][106] Other Important Information - Anterix has returned approximately $4 million to shareholders through its share repurchase program in the third quarter [11] - The FCC has proposed a rulemaking to expand the 900 megahertz broadband segment from a three by three configuration to a five by five configuration, which is seen as a significant milestone [27][28] Q&A Session Summary Question: What is the genesis of external interest in Anterix? - Management believes the interest stems from the company's large ecosystem, successful customer deployments, and the pathway to five by five spectrum [41] Question: What motivates utilities to move quicker in adopting private broadband? - Management noted that successful use cases and performance from existing customers are driving urgency among utilities to adopt these solutions [50] Question: How should investors think about CapEx and the value of the deal pipeline? - Management indicated that the current contracts represent a small fraction of the total potential value, with significant room for growth as more utilities adopt the technology [106][107]

Core Insights - Anterix reported a quarterly loss of $0.46 per share, better than the Zacks Consensus Estimate of a loss of $0.57, and an improvement from a loss of $0.55 per share a year ago, resulting in an earnings surprise of 19.30% [1] - The company generated revenues of $1.57 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 4.51%, but showing an increase from $1.27 million year-over-year [2] - Anterix shares have declined approximately 7% year-to-date, contrasting with the S&P 500's gain of 3.1% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.55 on revenues of $1.64 million, and for the current fiscal year, it is -$2.65 on revenues of $6.36 million [7] - The estimate revisions trend for Anterix is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Communication - Infrastructure industry, to which Anterix belongs, is currently ranked in the bottom 30% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - Bandwidth, another company in the same industry, is expected to report quarterly earnings of $0.38 per share, with revenues projected to be $203.49 million, reflecting a 23% increase from the previous year [9][10]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 10-Q ______________________ (Mark one) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2024 For the transition period from __________ to __________ Commission File Number: 001-36827 ______________________ Anterix Inc. OR (Exact name of registrant as specified in its charter) ______________________ o TRANSIT ...

Financial Performance - Anterix reported spectrum revenue of $1.566 million for the three months ended December 31, 2024, a 23.2% increase from $1.271 million in the same period of 2023[15] - The net income for the three months ended December 31, 2024, was $7.710 million, compared to a net income of $328,000 in the same period of 2023[15] - For the three months ended December 31, 2024, the net income was $7.71 million, a significant increase from a net income of $0.33 million in the same period of 2023[17] - The company reported a loss from operations of $21.110 million for the nine months ended December 31, 2024[15] - Anterix's accumulated deficit increased to $399.196 million as of December 31, 2024, from $372.173 million as of March 31, 2024[13] Cash and Assets - The company had cash and cash equivalents of $28.8 million and no debt as of December 31, 2024[4] - The total cash and cash equivalents and restricted cash at the end of the period was $36.43 million, down from $69.55 million at the end of December 2023[18] - Anterix's total assets increased to $326.679 million as of December 31, 2024, compared to $324.894 million as of March 31, 2024[13] Share Repurchase and Expenses - The company executed share repurchase activity of $4.4 million in the fiscal third quarter of 2025, with approximately $229.6 million remaining under the current share repurchase program[5] - The total cost to repurchase shares in the three months ended December 31, 2024, was $4.42 million, with an average price paid per share of $33.59[20] - As of December 31, 2024, there is $229.6 million remaining under the share repurchase program[21] - The company incurred stock compensation expenses of $2.87 million for the three months ended December 31, 2024, compared to $3.92 million in the same period of 2023[17] Cash Flow Activities - The company reported a net cash used in operating activities of $7.70 million for the three months ended December 31, 2024, compared to a net cash provided of $33.64 million in the same period of 2023[17] - The net cash used in investing activities for the three months ended December 31, 2024, was $1.72 million, compared to $4.54 million in the same period of 2023[17] - The cash paid for taxes during the three months ended December 31, 2024, was $0.17 million, compared to no taxes paid in the same period of 2023[18] - The cash paid for operating leases during the three months ended December 31, 2024, was $0.53 million, slightly down from $0.58 million in the same period of 2023[18] Strategic Initiatives - Anterix initiated a strategic review process in February 2025 after receiving inbound interest in the company[9] - The company has a projected operating expenses run rate reduction of approximately 20% planned for fiscal 2026[9] - Anterix has approximately $3 billion in a pipeline of prospective contract opportunities across over 60 potential customers[9] Gains and Losses - The company reported a gain on disposal of intangible assets of $20.75 million for the three months ended December 31, 2024[17]

Core Insights - Anterix reported its third quarter fiscal 2025 results, highlighting financial performance and operational updates [1] Financial and Operational Highlights - Spectrum revenue for the three months ended December 31, 2024, was $1.566 million, an increase from $1.271 million in the same period of 2023, representing a 23.2% growth [14] - For the nine months ended December 31, 2024, spectrum revenue reached $4.642 million, up from $2.931 million in 2023, marking a 58.4% increase [14] - Operating expenses for the third quarter were $15.287 million, compared to $14.068 million in the prior year [14] - The company reported a net income of $7.710 million for the third quarter, a significant increase from $328,000 in the same quarter of 2023 [14] Liquidity and Balance Sheet - As of December 31, 2024, Anterix had cash and cash equivalents of $28.8 million and no debt [3] - The company also held a restricted cash balance of $7.6 million in escrow deposits [3] - Total assets amounted to $326.679 million, with total liabilities at $181.934 million, resulting in stockholders' equity of $144.745 million [12] Share Repurchase Program - Anterix has an authorized share repurchase program for up to $250 million, with $229.6 million remaining as of December 31, 2024 [4][19] - In the fiscal third quarter of 2025, the company repurchased shares worth $4.4 million [4] Strategic Initiatives - The company initiated a strategic review process in February 2025 following inbound interest, aiming to explore potential opportunities [8] - Anterix is engaged in an industry initiative to accelerate private wireless broadband opportunities [8] - The company has a projected operating expenses run rate reduction of approximately 20% planned for fiscal 2026 [8] Conference Call Information - Anterix's senior management will hold a conference call on February 12, 2025, to provide a business update [5]

Core Viewpoint - Anterix Inc. is experiencing a surge in share prices due to the appointment of Morgan Stanley as a financial advisor for a strategic review, driven by increasing demand for private wireless broadband in the utility sector [1][5]. Group 1: Company Developments - Anterix has initiated a formal strategic review in response to inbound interest, aiming to capitalize on the rising demand for private wireless broadband solutions [1]. - The company is focusing on the growing need for quicker deployment of 900 MHz private networks and has launched an initiative to accelerate this process for clients [2]. - Anterix is exploring changes to pricing, payment, and ownership terms to enhance collaboration with strategic partners, reflecting strong interest from utilities [3]. Group 2: Leadership Insights - The President and CEO of Anterix, Scott Lang, emphasized the company's extensive experience in enabling private networks for utilities and the intention to evolve product offerings aggressively [4]. - The company highlighted its position as a leading provider of private wireless broadband with zero debt and a robust customer pipeline, which has attracted strategic interest [5]. Group 3: Market Performance - Anterix shares have increased by 25.5%, trading at $35.79, indicating positive market reception to the company's strategic moves [6].

WOODLAND PARK, N.J., Feb. 11, 2025 (GLOBE NEWSWIRE) -- Anterix (NASDAQ: ATEX) announced today that after receiving inbound interest in the Company, it has engaged Morgan Stanley & Co. LLC (“Morgan Stanley”) as its financial advisor to support a formal strategic review process for the Company to capitalize on the growing demand and urgency for private wireless broadband solutions for the utility industry. Additionally, as the recognized market leader in the private wireless broadband space for utilities, Ant ...

Core Viewpoint - Anterix will hold a conference call on February 12, 2025, to discuss its third quarter fiscal 2025 results, with a press release to be issued on February 11, 2025 [1] Company Overview - Anterix partners with utilities and technology companies to utilize 900 MHz broadband for modernizing grid solutions, leading an ecosystem of over 100 members [3] - The company is the largest holder of licensed spectrum in the 900 MHz band across the contiguous United States, Alaska, Hawaii, and Puerto Rico, enabling private wireless broadband solutions for advanced communications [3] - Anterix aims to support a cleaner, safer, and more secure energy future through its utility-first solutions [3] Conference Call Details - Participants must pre-register to join the live Q&A session and are advised to connect at least 10 minutes early [2] - The call will be webcast live and accessible on Anterix's Investor Relations website, with a replay available afterward [2]

Company Overview - Anterix (ATEX) shares increased by 11.4% to $30.99 in the last trading session, following a higher-than-average trading volume, contrasting with an 8.7% loss over the past four weeks [1] Demand and Market Expansion - Anterix is experiencing rising demand for its broadband solutions across various sectors, including energy and transportation. The Lower Colorado River Authority plans to acquire an additional 900 MHz spectrum wireless broadband licenses to support growth initiatives in Texas [2] Regulatory Developments - The FCC has approved a Notice of Proposed Rulemaking to modify existing 900 MHz broadband rules, allowing the broadband segment to expand from 3/3 MHz to 5/5 MHz. This expansion is essential to meet the growing demand for private wireless broadband networks in the utility sector and other critical infrastructure [3] Financial Performance Expectations - Anterix is projected to report a quarterly loss of $0.57 per share, reflecting a year-over-year decline of 3.6%. Revenue is expected to reach $1.64 million, marking a 29.1% increase from the previous year [4] Earnings Estimates and Stock Performance - The consensus EPS estimate for Anterix has remained unchanged over the last 30 days. Typically, a stock's price does not continue to rise without trends in earnings estimate revisions, indicating the need to monitor ATEX for potential future strength [5] Industry Context - Anterix operates within the Zacks Communication - Infrastructure industry. IHS Holding (IHS), another company in the same sector, closed 0.6% higher at $3.21, with a 3.6% return over the past month [5]