Anterix Inc. Reports Full Fiscal Year 2026 Results
Rhea-AI Summary
Anterix (NASDAQ: ATEX) reported fiscal 2026 fourth quarter and full-year results for the period ended March 31, 2026.
Key points include $23.9 million in new FY2026 spectrum sale agreements plus a post-year-end $0.8 million deal, total contracted proceeds received of $127 million with $50 million outstanding, and launch of TowerX™ and CatalyX® services.
The company recorded gains of $34.8 million on broadband license deliveries and $105.4 million on license exchanges for the year, with additional Q4 gains of $22.0 million and $11.1 million. Anterix ended the year with $98.5 million cash, no debt, and $226.7 million remaining under a $250 million share repurchase program.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Positive
- New FY2026 spectrum sale agreements totaling $23.9 million, plus $0.8 million post year-end
- $127 million of contracted proceeds received, with $50 million of contracted proceeds still outstanding
- Recorded full-year gains of $34.8 million on sales and $105.4 million on exchanges of licenses
- Ended March 31, 2026 with $98.5 million cash, $6.1 million restricted cash, and no debt
- $226.7 million remaining under a $250 million authorized share repurchase program through September 21, 2026
- FCC expanded 900 MHz broadband segment from 6 MHz to 10 MHz on February 18, 2026
Negative
- Invested $27.2 million in spectrum clearing costs in FY2026, including $7.4 million in Q4
- No share repurchases in Q4 FY2026 despite remaining $226.7 million buyback authorization
News Market Reaction – ATEX
On the day this news was published, ATEX gained 25.72%, reflecting a significant positive market reaction. Argus tracked a peak move of +33.5% during that session. Our momentum scanner triggered 74 alerts that day, indicating high trading interest and price volatility. This price movement added approximately $316M to the company's valuation, bringing the market cap to $1.54B at that time. Trading volume was elevated at 2.8x the daily average, suggesting notable buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 11 | Q3 2026 earnings | Positive | -1.4% | Reported Q3 FY2026 results with strong contracted proceeds and no debt. |
| Nov 12 | Q2 2026 earnings | Positive | +13.7% | Q2 FY2026 results with gains on licenses and solid cash position. |
| Aug 12 | Q1 2026 earnings | Positive | -4.4% | Q1 FY2026 results showing gains on exchanges and strong pipeline. |
| Jun 24 | FY2025 earnings | Positive | -6.9% | Full-year 2025 results with major spectrum deals and cash strength. |
| Feb 11 | Q3 2025 earnings | Positive | -0.7% | Q3 2025 results with cash, no debt and expense reduction plans. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases have produced mixed reactions, with one strong positive move and several modest declines, suggesting inconsistent trading responses to financial updates.
Recent earnings-related news for Anterix shows steady operational progress, including growing contracted proceeds, significant gains on spectrum-related transactions, and consistent maintenance of a debt-free balance sheet with ample cash. Prior quarters highlighted the build-out of a roughly $3 billion pipeline and large spectrum deals such as Oncor and CPS Energy. Despite this, price reactions around earnings have ranged from about -6.9% to +13.7%, indicating that investor response to similar financial updates has varied considerably.
Historical Comparison
Past earnings releases for Anterix have prompted relatively small average moves of about 0.04%, but with a wide range from sharp gains to notable declines, underscoring inconsistent market reactions to similar financial updates.
Earnings updates progressed from FY2025 results through Q1–Q3 FY2026, showing increasing contracted proceeds, large spectrum gains, and a growing ~$3 billion pipeline while maintaining a no-debt balance sheet and active capital return authorization.
Regulatory & Risk Context
Key Terms
report and order regulatory
broadband licenses technical
narrowband technical
restricted stock units financial
escrow deposits financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
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 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 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 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
The Company has an authorized share repurchase program for up to
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
nvecchiarelli@anterix.com
| 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, | — | — | |||||
| Common stock, | 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,
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.
