Woodland Park, NJ – June 10, 2026 – Anterix (NASDAQ: ATEX) today announced fiscal 2026 fourth quarter and full fiscal year financial results for the year ended March 31, 2026.
Full Year FY2026 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 TowerXTM, 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 FY2026 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.
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
1. 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.
2. Thereafter expected cash proceeds range from FY28 through FY34.
