ANTERIX INC. REPORTS SECOND QUARTER FISCAL YEAR 2025 RESULTS
ANTERIX INC. REPORTS SECOND QUARTER FISCAL YEAR 2025 RESULTS . (MENAFN - PR Newswire) 
 
 
 
 
 
 WOODLAND PARK, N.J., Nov. 13, 2024 /PRNewswire/ -- Anterix (NASDAQ: ATEX ) today announced its second quarter fiscal 2025 results and filed its Form 10-Q for the ...
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WOODLAND PARK, N.J., Nov. 13, 2024 /PRNewswire/ -- Anterix (NASDAQ: ATEX ) today announced its second quarter fiscal 2025 results and filed its Form 10-Q for the three and six months ended September

30, 2024. The Company also issued an update on its Demonstrated Intent metric which can be found on Anterix's website at .

"Our results in the second quarter of fiscal 2025 reflect Anterix's strong positioning and continued progress in our journey to drive 900 MHz private wireless broadband networks throughout the utility sector. In my first month as President and CEO at Anterix, I have been impressed by our team and the upcoming opportunities for our group. I see an incredible runway for Anterix to grow, with the value of private broadband networks to utilities being stronger than I have ever seen across my 30-year career," commented Scott Lang, Anterix President and CEO.

"Looking ahead, I am extremely encouraged by our active customer pipeline and the discussions ongoing with prospective clients. In the coming months, we plan to have a dedicated focus on a number of key objectives from enhancing pipeline relationships and innovating our customer approach. The future is bright at Anterix, and I look forward to updating the market on our progress in the quarters ahead."

Financial and Operational Highlights



Cash and cash equivalents of $43.1 million as of September 30, 2024

Received a $7.5 million milestone payment from Ameren Corporation

Approximately $168 million of contracted proceeds due to be received with $110 million expected through fiscal 2026

Spectrum clearing costs of $5.5 million Approximately $3 billion pipeline of prospective contract opportunities across 60+ potential customers

Liquidity and Balance Sheet

At September

30, 2024, Anterix had no debt and cash and cash equivalents of $43.1 million. In addition, the Company had a restricted cash balance of $7.6 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 the fiscal second quarter of 2025, Anterix did not have any share repurchase activity and approximately $234.0 million remains under the current share repurchase program as of September

30, 2024.

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 November 14, 2024. Interested parties can participate in the call by dialing 1-833-816-1120 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 .

About Anterix Inc.



At 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 members, we offer utility-first solutions to modernize the grid and solve the challenges that utilities are facing today. As the largest holder of licensed spectrum in the 900 MHz band (896-901/935-940 MHz) throughout the contiguous United States, plus Alaska, Hawaii, and Puerto Rico, we are uniquely positioned to enable private wireless broadband solutions that support cutting-edge advanced communications capabilities for a cleaner, safer, and more secure energy future. To learn more and join the 900 MHz movement, please visit .

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 the Anterix's business or financial results or outlook. 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; and (iii) Anterix's ability to qualify for and timely secure broadband licenses. 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 , 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]
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2024-11-13
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(MENAFN - PR Newswire) 
 
 
 
 
 
 WOODLAND PARK, N.J., Nov. 13, 2024 /PRNewswire/ -- Anterix (NASDAQ: ATEX ) today announced its second quarter fiscal 2025 results and filed its Form 10-Q for the ...
ANTERIX INC. REPORTS SECOND QUARTER FISCAL YEAR 2025 RESULTS