Anterix Inc. Reports Fourth Quarter and Full Fiscal Year 2023 Results

About this update from Anterix Inc.

[{"type":"text","content":"WOODLAND PARK, N.J., June 14, 2023 /PRNewswire/ -- Anterix (NASDAQ: ATEX) today announced its fiscal 2023 fourth quarter and full fiscal year financial results and filed its 10-K for the year ended March 31, 2023.\n\n \n \n \n \n \n \n\n \nFull Year FY2023 Financial Highlights\n– Cash and cash equivalents of $43.2 million as of March 31, 2023– Executed a new spectrum lease agreement with Xcel Energy for a total of $80.0 million, of which $8.0 million was received in December 2022– Exchanged narrowband for broadband licenses in 84 counties and recorded a gain on exchange of narrowband licenses for broadband licenses of $38.4 million– Cash used from operations was $27.3 million including customer receipts of $8.2 million– Incurred spectrum clearing costs of $25.0 million– Contracted cash proceeds of $100.8 million due to be received in Fiscal 2024\nThe Company also issued an update on its Demonstrated Intent metric which can be found on Anterix's website at www.investors.anterix.com/Q42023.\nCommenting on the Company's progress, Rob Schwartz, President and Chief Executive Officer, said, \"We continue to see utilities meaningfully demonstrating intent to pursue 900 MHz private wireless broadband networks, further validating the demand for our unique offering, and increasing our confidence in becoming the de facto provider of this critical capability for utilities.\"\nAbout Anterix Inc. \nAt Anterix, we are focused on delivering transformative private broadband that enables the modernization of critical infrastructure for the energy, transportation, logistics and other sectors of our economy. As the largest holder of licensed spectrum in the 900 MHz band (896-901/935-940 MHz) throughout the contiguous United States, plus Hawaii, Alaska, and Puerto Rico, we are uniquely positioned to enable the private LTE solutions that support secure, resilient and customer-controlled operations. For more information, visit: www.anterix.com.\nForward-Looking Statements \nCertain 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 the Anter...

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