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Anterix Reports Fourth Quarter and Full Fiscal Year 2024 Results
WOODLAND PARK, N.J., June 26, 2024 /PRNewswire/ -- Anterix (NASDAQ: ATEX) today announced its fiscal 2024 fourth quarter and full fiscal year financial
About this update from Anterix Inc.
[{"type":"text","content":"WOODLAND PARK, N.J., June 26, 2024 /PRNewswire/ -- Anterix (NASDAQ: ATEX) today announced its fiscal 2024 fourth quarter and full fiscal year financial results and filed its 10-K for the year ended March 31, 2024. The Company also issued an update on its Demonstrated Intent metric which can be found on Anterix's website at http://www.investors.anterix.com/Q42024.\n\n \n \n \n \n \n \n\n \nFull Year FY2024 Financial Highlights\nYielded positive cash flows primarily due to $106.5 million received in contracted cash proceeds from our customersExecuted a new spectrum lease agreement with a Florida utility for a total of $34.5 million, of which $6.9 million was received in December 2023Entered into a $30.0 million spectrum sale agreement with Lower Colorado River Authority, of which $15.0 million was received during the year ended March 31, 2024Transferred the San Diego County and Imperial County broadband licenses to San Diego Gas & Electric Company and recorded a $7.4 million gain on sale of intangible assetsExchanged narrowband for broadband licenses in 28 counties and recorded a $35.0 million gainCash and cash equivalents of $60.6 million as of March 31, 2024Returned $24.7 million to stockholders through share repurchasesSpectrum clearing investment of $17.0 millionFourth Quarter FY2024 Financial Highlights\nReceived a $16.8 million milestone payment from Xcel EnergyExchanged narrowband for broadband licenses in 4 counties and recorded a $2.0 million gainReturned $6.0 million to stockholders through share repurchasesSpectrum clearing investment of $2.2 millionConference Call Information\nAnterix senior management will hold an analyst and investor conference call to provide a business update and discuss the company’s recently announced agreement with Oncor Electric Delivery Company at 9:00 A.M. ET on Thursday, June 27, 2024. Interested parties can participate in the call by dialing 833-816-1120 and asking the operator to be joined into the Anterix call. International callers should dial 1-412-317-1861. A replay of the call will be accessible on the Investor Relations section of Anterix's website at https://www.anterix.com/events/\nAbout Anterix \nAt Anterix, we partner with leading utilities and technology companies to harness the power of 900 MHz broadband for modernized grid solutions. Leading an ecosystem of more than 100 membe...