Business
Anterix Inc. Reports Full Fiscal Year 2026 Results
Anterix Inc. Reports Full Fiscal Year 2026
About this update from Anterix Inc.
WOODLAND PARK, N.J., June 10, 2026 (GLOBE NEWSWIRE) -- Anterix (NASDAQ: ATEX) today announced fiscal 2026 fourth quarter and full fiscal year financial results for the year ended March 31, 2026. Full Year FY 2026 Financial and Operational Highlights Executed new spectrum sale agreements with CPS Energy, Texas-New Mexico Power and NorthWestern Energy during FY2026 for total contracted proceeds of $23.9 million Subsequent to year end, in April 2026, the Company entered into a new spectrum sale agreement with Benton PUD for a total contract price of $0.8 million On February 18, 2026, the FCC adopted the 2026 Report and Order to expand the 900 MHz broadband segment from 6 MHz to 10 MHz Received $127 million of contracted proceeds from customers with $50 million of contracted proceeds outstanding Launched TowerX™, a tower site access service, and CatalyX®, a turnkey connectivity management solution Delivered broadband licenses to customers covering 155 counties and recorded a $34.8 million gain on sale of intangible assets Exchanged narrowband for broadband licenses in 219 counties and recorded a $105.4 million gain Invested $27.2 million in spectrum clearing costs Fourth Quarter FY 2026 Financial Highlights Delivered broadband licenses to customers covering 92 counties and recorded a $22.0 million gain on sale of intangible assets Exchanged narrowband for broadband licenses in 46 counties and recorded a $11.1 million gain Invested $7.4 million in spectrum clearing costs Liquidity and Balance Sheet At March 31, 2026, the Company had no debt and cash and cash equivalents of $98.5 million. In addition, the Company had a restricted cash balance of $6.1 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 2026 fourth quarter, Anterix had no share repurchase activity. In fiscal 2026 full year, Anterix had share repurchase activity of $1.0 million. As of March 31, 2026, $226.7 million is remaining 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 Thursday, June 11, 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://investors.anterix.com/events/event-details/q4-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. 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 Vice President, Investor Relations & Corporate Communications Anterix 973-531-4397 [email protected] Anterix Inc. Earnings Release Tables Consolidated Balance Sheets (in thousands, except share and per share data) March 31, 2026 March 31, 2025 ASSETS Current assets Cash and cash equivalents $ 98,533 $ 47,374 Non-trade receivable — 2,926 Spectrum receivable 10,638 7,107 Escrow deposits 6,130 547 Prepaid expenses and other current assets 4,684 2,801 Total current assets 119,985 60,755 Escrow deposits — 7,103 Property and equipment, net 827 1,302 Right of use assets, net 4,069 4,829 Intangible assets 310,712 228,983 Deferred broadband costs 29,069 28,944 Other assets 548 1,188 Total assets $ 465,210 $ 333,104 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable and other accrued expenses $ 15,028 $ 9,075 Accrued severance and other related charges 2,810 2,265 Due to related parties — 30 Operating lease liabilities 1,424 1,643 Contingent liability 2,220 8,093 Deferred revenue 14,513 6,095 Total current liabilities 35,995 27,201 Operating lease liabilities 2,995 3,747 Contingent liability 6,000 15,336 Deferred revenue 146,665 118,577 Deferred gain on sale of intangible assets 4,911 4,911 Deferred income tax 6,323 6,606 Other liabilities — 125 Total liabilities 202,889 176,503 Commitments and contingencies (See Note 15) Stockholders’ equity Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized and no shares outstanding at March 31, 2026 and March 31, 2025 — — Common stock, $0.0001 par value per share, 100,000,000 shares authorized and 18,914,271 shares issued and outstanding at March 31, 2026 and 18,612,804 shares issued and outstanding at March 31, 2025 2 2 Additional paid-in capital 564,617 548,542 Accumulated deficit (302,298 ) (391,943 ) Total stockholders’ equity 262,321 156,601 Total liabilities and stockholders’ equity $ 465,210 $ 333,104 Anterix Inc. Earnings Release Tables Consolidated Statements of Operations (in thousands, except share and per share data) Three Months Ended March 31, Year Ended March 31, 2026 2025 2026 2025 Spectrum revenue $ 1,958 $ 1,389 $ 6,501 $ 6,031 Operating expenses General and administrative 8,560 9,220 36,063 42,671 Sales and support 2,519 1,594 6,900 6,110 Product development 1,267 1,089 4,703 5,735 Severance and other related charges 2,776 258 4,596 3,771 Depreciation and amortization 103 76 464 548 Operating expenses 15,225 12,237 52,726 58,835 Gain on exchange of intangible assets, net (11,095 ) (1,953 ) (105,419 ) (22,799 ) Gain on sale of intangible assets, net (22,021 ) (18,294 ) (34,780 ) (18,294 ) Loss from disposal of long-lived assets, net 14 3 44 3 Income (loss) from operations 19,835 9,396 93,930 (11,714 ) Interest income 472 446 1,633 2,159 Other income 75 40 143 75 Income (loss) before income taxes 20,382 9,882 95,706 (9,480 ) Income tax expense 1,862 674 5,071 1,892 Net income (loss) $ 18,520 $ 9,208 $ 90,635 $ (11,372 ) Net income (loss) per common share basic $ 0.99 $ 0.50 $ 4.85 $ (0.61 ) Net income (loss) per common share diluted $ 0.98 $ 0.49 $ 4.83 $ (0.61 ) Weighted-average common shares used to compute basic net income (loss) per share 18,761,900 18,577,700 18,688,175 18,562,446 Weighted-average common shares used to compute diluted net income (loss) per share 18,862,936 18,709,205 18,755,739 18,562,446 Anterix Inc. Earnings Release Tables Consolidated Statements of Cash Flows ( in thousands) Three Months Ended March 31, Year Ended March 31, 2026 2025 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES Net income (loss) $ 18,520 $ 9,208 $ 90,635 $ (11,372 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities Depreciation and amortization 103 76 464 548 Stock compensation expense 2,697 2,912 11,491 13,531 Deferred income taxes 182 (130 ) (283 ) 325 Rights of use assets 207 431 760 1,657 Gain on exchange of intangible assets, net (11,095 ) (1,953 ) (105,419 ) (22,799 ) Gain on sale of intangible assets, net (22,021 ) (18,294 ) (34,780 ) (18,294 ) Loss from disposal of long-lived assets, net 14 3 44 3 Changes in operating assets and liabilities Non-trade receivable — (2,926 ) 2,926 (2,926 ) Prepaid expenses and other assets (552 ) (139 ) (738 ) 1,126 Accounts payable and other accrued expenses (117 ) 167 (1,707 ) 550 Accrued severance and other related charges 117 (25 ) 545 2,265 Due to related parties — 30 (30 ) 30 Operating lease liabilities (225 ) (507 ) (971 ) (1,960 ) Contingent liability (869 ) (4,001 ) 6,195 5,999 Deferred revenue 28,582 (1,389 ) 36,506 2,460 Other liabilities (24 ) (18 ) (127 ) (406 ) Net cash provided by (used in) operating activities 15,519 (16,555 ) 5,511 (29,263 ) CASH FLOWS FROM INVESTING ACTIVITIES Purchases of intangible assets and other related costs (7,372 ) (5,474 ) (27,172 ) (18,095 ) Proceeds from sale of spectrum 53,498 40,935 67,737 40,935 Purchases of equipment (22 ) (46 ) (31 ) (87 ) Net cash provided by investing activities 46,104 35,415 40,534 22,753 CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from stock option exercises 5,197 1,691 5,354 3,651 Repurchase of common stock — (1,955 ) (990 ) (8,398 ) Payments of withholding tax on net issuance of restricted stock (44 ) — (770 ) (1,843 ) Net cash provided by (used) in financing activities 5,153 (264 ) 3,594 (6,590 ) Net change in cash and cash equivalents and restricted cash 66,776 18,596 49,639 (13,100 ) CASH AND CASH EQUIVALENTS AND RESTRICTED CASH Cash and cash equivalents and restricted cash at beginning of the period 37,887 36,428 55,024 68,124 Cash and cash equivalents and restricted cash at end of the period $ 104,663 $ 55,024 $ 104,663 $ 55,024 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: March 31, 2026 March 31, 2025 March 31, 2024 Cash and cash equivalents $ 98,533 $ 47,374 $ 60,578 Escrow deposits 6,130 7,650 7,546 Total cash and cash equivalents and restricted cash $ 104,663 $ 55,024 $ 68,124 December 31, 2025 December 31, 2024 Cash and cash equivalents $ 29,534 $ 28,797 Escrow deposits 8,353 7,631 Total cash and cash equivalents and restricted cash $ 37,887 $ 36,428 Anterix Inc. Earnings Release Tables Other Financial Information ( in thousands except per share data) Share Repurchase Program The following table presents the share repurchase activity for the three months and years ended March 31, 2026 and 2025 (in thousands, except per share data): Three Months Ended March 31, Year Ended March 31, 2026 2025 2026 2025 Number of shares repurchased and retired — 50 43 245 Average price paid per share* $ — $ 38.63 $ 22.94 $ 33.71 Total cost to repurchase $ — $ 1,955 $ 990 $ 8,398 Average price paid per share includes costs associated with the repurchases, excluding excise taxes associated with the share repurchases. As of March 31, 2026, $226.7 million is remaining under the share repurchase program. Expected Future Cash Proceeds The following table illustrates the estimated contracted customer proceeds for Fiscal 2027 and thereafter (in thousands): Customers Fiscal 2027 (1) Thereafter (1)(2) Ameren $ 16,300 $ — SDG&E — 3,100 Xcel Energy — 4,000 LCRA — 7,200 CPS 6,500 — TNMP 1,600 1,600 NWE 700 7,000 Benton PUD 200 500 Total $ 25,300 $ 23,400 Total cash proceeds are subject to change based on final delivery date of the broadband licenses for the associated milestone, which may include penalties associated with delayed deliveries. Thereafter expected cash proceeds range from FY28 through FY34.