Anterix Inc. Reports First Quarter Fiscal Year 2027 Results

About this update from Anterix Inc.

WOODLAND PARK, N.J., Aug. 11, 2026 (GLOBE NEWSWIRE) -- Anterix (NASDAQ: ATEX) today announced its first quarter fiscal 2027 results and filed its Form 10-Q for the three months ended June 30, 2026. Financial and Operational Highlights Approximately $33.1 million of contracted proceeds outstanding with more than $15.7 million received from customers during the first quarter of fiscal 2027 and approximately $9.6 million expected to be received during the remainder of fiscal 2027 On April 16, 2026, the Company entered into a 10 MHz 900 MHz spectrum license sale agreement with Benton PUD for a total contract price of $0.8 million Exchanged narrowband for broadband licenses in 6 counties and recorded a $10.7 million gain on exchange of broadband licenses Invested $6.7 million in spectrum clearing costs Liquidity and Balance Sheet At June 30, 2026, the Company had no debt and cash and cash equivalents of $116.0 million. In addition, the Company had a restricted cash balance of $3.9 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 fiscal 2027 first quarter, Anterix had no share repurchase activity. As of June 30, 2026, $226.7 million remained available under the share repurchase program. 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, August 12, 2026. Participants interested in joining the call’s live question and answer session are required to pre-register by clicking on the following link https://bit.ly/anterixQ1FY27 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. Anterix is transforming how critical infrastructure stays connected. As the market leader in mission-critical private wireless broadband spectrum for the utility sector, Anterix delivers more secure, private 900 MHz licensed spectrum and advanced intelligent infrastructure solutions that enhance efficiency, strengthen resilience, and accelerate digital transformation. Backed by a growing ecosystem of industry-leading partners, Anterix provides the connectivity foundation that powers a more resourceful and resilient future. Learn more at 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, regulatory actions 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 and services to its targeted utility or other customers in accordance with its plans and expectations; (v) Anterix’s ability to execute on its customer engagement initiatives; and (vi) 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 VP, Investor Relations & Corporate Communications Anterix [email protected]         Anterix Inc. Earnings Release Tables Consolidated Balance Sheets (Unaudited, in thousands, except share and per share data)           June 30, 2026   March 31, 2026 ASSETS       Current assets       Cash and cash equivalents $ 116,010     $ 98,533   Spectrum receivable   14,266       10,638   Broadband licenses held for sale   13,000       —   Escrow deposits   3,910       6,130   Prepaid expenses and other current assets   5,892       4,684   Total current assets   153,078       119,985   Property and equipment, net   761       827   Right of use assets, net   3,757       4,069   Intangible assets   310,285       310,712   Deferred broadband costs   29,503       29,069   Other assets   541       548   Total assets $ 497,925     $ 465,210   LIABILITIES AND STOCKHOLDERS’ EQUITY       Current liabilities       Accounts payable and other accrued expenses $ 11,915     $ 15,028   Accrued severance and other related charges   1,633       2,810   Operating lease liabilities   1,447       1,424   Contingent liability   2,220       2,220   Deferred revenue   14,331       14,513   Total current liabilities   31,546       35,995   Operating lease liabilities   2,641       2,995   Contingent liability   6,000       6,000   Deferred revenue   160,582       146,665   Deferred gain on sale of intangible assets   4,911       4,911   Deferred income tax   6,451       6,323   Total liabilities   212,131       202,889   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 June 30, 2026 and March 31, 2026   —       —   Common stock, $0.0001 par value per share, 100,000,000 shares authorized and 19,550,348 shares issued and outstanding at June 30, 2026 and 18,914,271 shares issued and outstanding at March 31, 2026   2       2   Additional paid-in capital   587,850       564,617   Accumulated deficit   (302,058 )     (302,298 ) Total stockholders’ equity   285,794       262,321   Total liabilities and stockholders’ equity $ 497,925     $ 465,210                   Anterix Inc. Earnings Release Tables Consolidated Statements of Operations (Unaudited, in thousands, except share and per share data)       Three months ended June 30,     2026       2025   Spectrum revenue $ 1,958     $ 1,418   Operating expenses       General and administrative   9,624       10,449   Sales and support   1,911       1,493   Product development   1,220       1,120   Severance and other related charges   —       620   Depreciation and amortization   101       124   Operating expenses   12,856       13,806   Gain on exchange of intangible assets, net   (10,653 )     (33,916 ) Gain on sale of intangible assets, net   —       (961 ) Loss from disposal of long-lived assets, net   1       8   (Loss) income from operations   (246 )     22,481   Interest income   845       442   Other income   15       —   Income before income taxes   614       22,923   Income tax expense (benefit)   374       (2,257 ) Net income $ 240     $ 25,180   Net income per common share basic $ 0.01     $ 1.35   Net income per common share diluted $ 0.01     $ 1.35   Weighted-average common shares used to compute basic net income per share   19,085,714       18,621,701   Weighted-average common shares used to compute diluted net income per share   19,627,512       18,704,131                   Anterix Inc. Earnings Release Tables Consolidated Statements of Cash Flows (Unaudited, in thousands)       Three months ended June 30,     2026       2025   CASH FLOWS FROM OPERATING ACTIVITIES       Net income $ 240     $ 25,180   Adjustments to reconcile net income to net cash provided by (used in) operating activities       Depreciation and amortization   101       124   Stock compensation expense   3,282       3,632   Deferred income taxes   128       (2,507 ) Right of use assets   312       113   Gain on exchange of intangible assets, net   (10,653 )     (33,916 ) Gain on sale of intangible assets, net   —       (961 ) Loss from disposal of long-lived assets, net   1       8   Changes in operating assets and liabilities       Non-trade receivable   —       2,926   Prepaid expenses and other assets   (1,072 )     377   Accounts payable and other accrued expenses   (2,521 )     (2,556 ) Accrued severance and other related charges   (1,177 )     95   Operating lease liabilities   (331 )     (186 ) Contingent liability   —       1,054   Deferred revenue   13,735       3,542   Other liabilities   —       (65 ) Net cash provided by (used in) operating activities   2,045       (3,140 ) CASH FLOWS FROM INVESTING ACTIVITIES       Purchases of intangible assets and other related costs   (6,703 )     (3,966 ) Proceeds from sale of spectrum   —       1,301   Purchases of equipment   (36 )     —   Net cash used in investing activities   (6,739 )     (2,665 ) CASH FLOWS FROM FINANCING ACTIVITIES       Proceeds from stock option exercises   20,267       —   Payments of withholding tax on net issuance of restricted stock   (316 )     (642 ) Net cash provided by (used in) financing activities   19,951       (642 ) Net change in cash and cash equivalents and restricted cash   15,257       (6,447 ) CASH AND CASH EQUIVALENTS AND RESTRICTED CASH       Cash and cash equivalents and restricted cash at beginning of the period   104,663       55,024   Cash and cash equivalents and restricted cash at end of the period $ 119,920     $ 48,577                     Three months ended June 30,     2026       2025   SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION       Cash paid during the period:       Taxes paid, including excise tax $ 216     $ —   Operating leases paid $ 419     $ 569   Non-cash investing activity:       Capitalized change in estimated asset retirement obligations $ —     $ (14 ) Derecognition of contingent liability related to sale of intangible assets $ —     $ 1,172   Right of use assets new leases $ 42     $ 321   Right of use assets modifications and renewals $ (5 )   $ 37                   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:       June 30, 2026   March 31, 2026 Cash and cash equivalents $ 116,010     $ 98,533   Escrow deposits   3,910       6,130   Total cash and cash equivalents and restricted cash $ 119,920     $ 104,663                 June 30, 2025   March 31, 2025 Cash and cash equivalents $ 41,432     $ 47,374   Escrow deposits   7,145       7,650   Total cash and cash equivalents and restricted cash $ 48,577     $ 55,024                  

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