Anterix Inc. Reports Second Quarter Fiscal Year 2027 Results

Quarterly spectrum revenue increased, but lower license-exchange gains accompanied a swing from profit to loss.

Rhea-AI Summary

Anterix (NASDAQ: ATEX) reported a fiscal 2027 second-quarter net loss of $4.993 million for the three months ended September 30, 2026. Spectrum revenue rose to $1.958 million from $1.552 million a year earlier. Diluted earnings swung to a $0.25 loss per share from $2.86 income per share. Gains on exchanges of intangible assets fell to $6.092 million from $59.602 million.

Cash and cash equivalents totaled $107.467 million, with no debt and $3.172 million in restricted escrow deposits. Quarterly operating cash use was $6.142 million. Approximately $33.1 million of contracted proceeds remained outstanding; Anterix expects approximately $9.6 million during the remainder of fiscal 2027. The company invested $5.4 million in spectrum clearing. Its $250.0 million repurchase authorization remained unused during the quarter. On October 29, 2026, the FCC advanced proposed rule changes considering 900 MHz spectrum for satellite coverage.

10 points · 0 major

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 15 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointQuarterly spectrum revenue increased to $1.958 million from $1.552 million a year earlier.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Approximately $33.1 million in contracted proceeds remains outstanding; Anterix expects approximately $9.6 million during remaining fiscal 2027. 2.1% of market cap
• Moderate pointNo debt at September 30, 2026, alongside $107.467 million in cash and cash equivalents.
• Minor pointSix-month spectrum revenue increased to $3.916 million from $2.970 million a year earlier.
• Minor pointStock-option exercises generated $2.894 million in quarterly cash proceeds and $23.161 million over six months.

5 minor points

• Minor pointQuarterly product development expense declined to $1.177 million from $1.212 million a year earlier.
• Minor pointSeverance charges fell to $205,000 quarterly and over six months, versus $735,000 and $1.355 million, respectively.
• Minor pointDepreciation and amortization fell to $96,000 quarterly and $197,000 over six months, versus $133,000 and $257,000.
• Minor pointInterest income rose to $949,000 quarterly and $1.794 million over six months, versus $379,000 and $821,000.
• Minor pointIncome tax expense fell to $264,000 quarterly and $638,000 over six months, versus $7.518 million and $5.261 million.

Negative

• Moderate pointQuarterly net loss of $4.993 million replaced $53.536 million income; diluted EPS moved to negative $0.25 from $2.86.
• Moderate pointQuarterly operating cash use of $6.142 million compared with $1.404 million generated a year earlier.
• Minor pointSix-month net loss of $4.753 million replaced $78.716 million income; diluted EPS moved to negative $0.25 from $4.21.
• Minor pointQuarterly operating loss of $5.710 million replaced $60.675 million operating income a year earlier.
• Minor pointSix-month operating loss of $5.956 million replaced $83.156 million operating income a year earlier.

10 minor points

• Minor pointIntangible-asset exchange gains fell to $6.092 million quarterly and $16.745 million over six months, versus $59.602 million and $93.518 million.
• Minor pointIntangible-asset sale gains were zero quarterly and over six months, versus $11.469 million and $12.430 million.
• Minor pointSix-month operating cash use widened to $4.097 million from $1.736 million a year earlier.
• Minor pointCash and cash equivalents declined to $107.467 million from $116.010 million at June 30, 2026.
• Minor pointGeneral and administrative expense rose to $10.029 million quarterly and $19.653 million over six months, versus $8.398 million and $18.847 million.
• Minor pointSales and support expense rose to $2.253 million quarterly and $4.164 million over six months, versus $1.449 million and $2.942 million.
• Minor pointSix-month product development expense increased to $2.397 million from $2.332 million a year earlier.
• Minor pointStock compensation expense increased to $4.065 million quarterly and $7.347 million over six months, versus $2.947 million and $6.579 million.
• Minor pointSpectrum clearing investment consumed $5.4 million during the quarter.
• Minor pointCommon shares outstanding increased to 19,663,183 at September 30, 2026, from 18,914,271 at March 31, 2026.

News Explained

At September 30, 2026, Anterix reported 19,663,183 common shares issued and outstanding, compared with 18,914,271 at March 31, 2026. The higher outstanding share count reduces existing holders’ percentage ownership absent offsetting changes.

Key Figures

Spectrum revenue: $1,958 thousand Net loss: ($4,993) thousand Diluted loss per share: ($0.25) per share +5 more

Spectrum revenue

$1,958 thousand

Q2 FY2027; $1,552 thousand in Q2 FY2026

Net loss

($4,993) thousand

Three months ended September 30, 2026; compared with $53,536 thousand net income in 2025

Diluted loss per share

($0.25) per share

Three months ended September 30, 2026

Operating cash used

($6,142) thousand

Three months ended September 30, 2026

License exchange gain

$6.1 million

Narrowband-for-broadband license exchanges in six counties

Contracted proceeds

$33.1 million outstanding; $9.6 million expected

Expected proceeds are for the remainder of fiscal 2027

Cash and debt

$107.5 million cash; no debt

At September 30, 2026

Spectrum clearing costs

$5.4 million

Fiscal 2027 second quarter

Previous Earnings Reports

1 past event · Latest: Aug 11

Same Type 1 event

1. Aug 11

   Q1 FY2027 earnings

   24h Move

   -4.5%

   Reported higher spectrum revenue, lower net income, and continuing proceeds and license-exchange activity.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

form 10-q, notice of proposed rulemaking, private lte networks

3 terms

form 10-q regulatory

"filed its Form 10-Q for the three and six months ended September 30, 2026"

A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.

notice of proposed rulemaking regulatory

"advanced a Notice of Proposed Rulemaking to modify its Supplemental Coverage"

A notice of proposed rulemaking (NPRM) is a formal public announcement issued by a government agency or regulator that sets out a proposed new rule or a proposed change to an existing rule, explains the legal authority and reasons for the proposal, and invites written comments from the public and affected parties during a specified comment period. It is part of the rulemaking process and does not itself create binding law; the agency reviews submitted comments and may revise the proposal before issuing a final rule or deciding not to proceed.

private lte networks technical

"operate on dedicated private LTE networks using Anterix 900 MHz"

A private LTE network is a dedicated cellular network based on LTE mobile standards that an organization controls for its own use rather than relying on public carriers. It acts like a private road for wireless data—giving the owner greater control over coverage, capacity, security and performance for things like factories, ports, campuses or utilities. Investors care because deployment affects capital and operating costs, can create new revenue opportunities for vendors, and may change a company's operational efficiency and competitive positioning.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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WOODLAND PARK, N.J., Nov. 10, 2026 (GLOBE NEWSWIRE) -- Anterix (NASDAQ: ATEX) today announced its second quarter fiscal 2027 results and filed its Form 10-Q for the three and six months ended September 30, 2026.

Financial and Operational Highlights

• Approximately $33.1 million of contracted proceeds outstanding with approximately $9.6 million expected to be received during the remainder of fiscal 2027
• Exchanged narrowband for broadband licenses in 6 counties and recorded a $6.1 million gain on exchange of broadband licenses
• Invested $5.4 million in spectrum clearing costs
• Announced that iPhone 18 Pro and iPhone Duo are the first iPhone models to operate on dedicated private LTE networks using Anterix 900 MHz (Band 106) spectrum
• Subsequent to quarter end, on October 29, 2026, the Federal Communications Commission advanced a Notice of Proposed Rulemaking to modify its Supplemental Coverage from Space (“SCS”) rules, which includes consideration of adding the 900 MHz band to the list of SCS bands
  
  

Liquidity and Balance Sheet

At September 30, 2026, the Company had no debt and cash and cash equivalents of $107.5 million. In addition, the Company had a restricted cash balance of $3.2 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 22, 2029. In fiscal 2027 second quarter, Anterix had no share repurchase activity. As of September 30, 2026, $250.0 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, November 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://bit.ly/anterixQ2FY27 to obtain a dial-in number and unique PIN. It is recommended that participants 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
nvecchiarelli@anterix.com

Anterix Inc. Earnings Release Tables Consolidated Balance Sheets (Unaudited, in thousands, except share and per share data)
	September 30, 2026				March 31, 2026
ASSETS
Current assets
Cash and cash equivalents	$	107,467			$	98,533
Spectrum receivable		16,063				10,638
Broadband licenses held for sale		13,607				—
Escrow deposits		3,172				6,130
Prepaid expenses and other current assets		4,773				4,684
Total current assets		145,082				119,985
Property and equipment, net		706				827
Right of use assets, net		4,345				4,069
Intangible assets		317,823				310,712
Deferred broadband costs		29,423				29,069
Other assets		534				548
Total assets	$	497,913			$	465,210
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable and other accrued expenses	$	11,667			$	15,028
Accrued severance and other related charges		1,221				2,810
Operating lease liabilities		1,316				1,424
Contingent liability		2,220				2,220
Deferred revenue		14,331				14,513
Total current liabilities		30,755				35,995
Operating lease liabilities		3,331				2,995
Contingent liability		6,000				6,000
Deferred revenue		159,005				146,665
Deferred gain on sale of intangible assets		4,911				4,911
Deferred income tax		6,759				6,323
Total liabilities		210,761				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 September 30, 2026 and March 31, 2026		—				—
Common stock, $0.0001 par value per share, 100,000,000 shares authorized and 19,663,183 shares issued and outstanding at September 30, 2026 and 18,914,271 shares issued and outstanding at March 31, 2026		2				2
Additional paid-in capital		594,201				564,617
Accumulated deficit		(307,051	)			(302,298	)
Total stockholders’ equity		287,152				262,321
Total liabilities and stockholders’ equity	$	497,913			$	465,210

Anterix Inc. Earnings Release Tables Consolidated Statements of Operations (Unaudited, in thousands, except share and per share data)
	Three months ended September 30,								Six months ended September 30,
		2026				2025				2026				2025
Spectrum revenue	$	1,958			$	1,552			$	3,916			$	2,970
Operating expenses
General and administrative		10,029				8,398				19,653				18,847
Sales and support		2,253				1,449				4,164				2,942
Product development		1,177				1,212				2,397				2,332
Severance and other related charges		205				735				205				1,355
Depreciation and amortization		96				133				197				257
Operating expenses		13,760				11,927				26,616				25,733
Gain on exchange of intangible assets, net		(6,092	)			(59,602	)			(16,745	)			(93,518	)
Gain on sale of intangible assets, net		—				(11,469	)			—				(12,430	)
Loss from disposal of long-lived assets, net		—				21				1				29
(Loss) income from operations		(5,710	)			60,675				(5,956	)			83,156
Interest income		949				379				1,794				821
Other income		32				—				47				—
(Loss) income before income taxes		(4,729	)			61,054				(4,115	)			83,977
Income tax expense		264				7,518				638				5,261
Net (loss) income	$	(4,993	)		$	53,536			$	(4,753	)		$	78,716
Net (loss) income per common share basic	$	(0.25	)		$	2.86			$	(0.25	)		$	4.22
Net (loss) income per common share diluted	$	(0.25	)		$	2.86			$	(0.25	)		$	4.21
Weighted-average common shares used to compute basic net (loss) income per share		19,595,743				18,687,082				19,342,122				18,654,570
Weighted-average common shares used to compute diluted net (loss) income per share		19,595,743				18,705,801				19,342,122				18,710,311

Anterix Inc. Earnings Release Tables Consolidated Statements of Cash Flows (Unaudited, in thousands)
	Three months ended September 30,								Six months ended September 30,
		2026				2025				2026				2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$	(4,993	)		$	53,536			$	(4,753	)		$	78,716
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities
Depreciation and amortization		96				133				197				257
Stock compensation expense		4,065				2,947				7,347				6,579
Deferred income taxes		308				2,387				436				(120	)
Right of use assets		(588	)			403				(276	)			516
Gain on exchange of intangible assets, net		(6,092	)			(59,602	)			(16,745	)			(93,518	)
Gain on sale of intangible assets, net		—				(11,469	)			—				(12,430	)
Loss from disposal of long-lived assets, net		—				21				1				29
Changes in operating assets and liabilities
Non-trade receivable		—				—				—				2,926
Prepaid expenses and other assets		1,026				(26	)			(46	)			351
Accounts payable and other accrued expenses		1,466				4,668				(1,055	)			2,112
Accrued severance and other related charges		(412	)			337				(1,589	)			432
Due to related parties		—				(30	)			—				(30	)
Operating lease liabilities		559				(474	)			228				(660	)
Contingent liability		—				6,371				—				7,425
Deferred revenue		(1,577	)			2,202				12,158				5,744
Other liabilities		—				—				—				(65	)
Net cash (used in) provided by operating activities		(6,142	)			1,404				(4,097	)			(1,736	)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of intangible assets and other related costs		(5,384	)			(13,181	)			(12,087	)			(17,147	)
Proceeds from sale of spectrum		—				12,577				—				13,878
Purchases of equipment		(41	)			—				(77	)			—
Net cash used in investing activities		(5,425	)			(604	)			(12,164	)			(3,269	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from stock option exercises		2,894				157				23,161				157
Repurchases of common stock		—				(990	)			—				(990	)
Payments of withholding tax on net issuance of restricted stock		(608	)			(74	)			(924	)			(716	)
Net cash provided by (used in) financing activities		2,286				(907	)			22,237				(1,549	)
Net change in cash and cash equivalents and restricted cash		(9,281	)			(107	)			5,976				(6,554	)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Cash and cash equivalents and restricted cash at beginning of the period		119,920				48,577				104,663				55,024
Cash and cash equivalents and restricted cash at end of the period	$	110,639			$	48,470			$	110,639			$	48,470

	Three months ended September 30,						Six months ended September 30,
	2026			2025			2026			2025
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the period:
Taxes paid, including excise tax	$	620		$	859		$	836		$	859
Operating leases paid	$	392		$	546		$	811		$	1,115
Non-cash investing activity:
Capitalized change in estimated asset retirement obligations	$	—		$	77		$	—		$	63
Derecognition of contingent liability related to sale of intangible assets	$	—		$	13,776		$	—		$	14,948
Right of use assets new leases	$	242		$	—		$	284		$	321
Right of use assets modifications and renewals	$	705		$	10		$	700		$	47

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:

		September 30, 2026			June 30, 2026			March 31, 2026
Cash and cash equivalents		$	107,467		$	116,010		$	98,533
Escrow deposits			3,172			3,910			6,130
Total cash and cash equivalents and restricted cash		$	110,639		$	119,920		$	104,663
		September 30, 2025			June 30, 2025			March 31, 2025
Cash and cash equivalents		$	39,070		$	41,432		$	47,374
Escrow deposits			9,400			7,145			7,650
Total cash and cash equivalents and restricted cash		$	48,470		$	48,577		$	55,024

Anterix Inc. Earnings Release Tables Other Financial Information (Unaudited, in thousands except per share data)
	Three months ended September 30,						Six months ended September 30,
	2026			2025			2026			2025
Number of shares repurchased and retired		—			43			—			43
Average price paid per share*	$	—		$	22.94		$	—		$	22.94
Total cost to repurchase	$	—		$	990		$	—		$	990

* Average price paid per share includes costs associated with the repurchases, excluding excise taxes associated with the share repurchases. 

As of September 30, 2026, $250.0 million is remaining under the share repurchase program.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Anterix's fiscal 2027 second-quarter revenue and earnings?

Anterix reported $1.958 million in spectrum revenue and a $4.993 million net loss for the three months ended September 30, 2026. A year earlier, spectrum revenue was $1.552 million and net income was $53.536 million. Diluted earnings moved from $2.86 per share to a loss of $0.25 per share.

How much contracted cash does Anterix expect to receive during the rest of fiscal 2027?

Anterix expects to receive approximately $9.6 million during the remainder of fiscal 2027. Approximately $33.1 million of contracted proceeds remained outstanding.

What is the deadline for Anterix's share repurchase authorization?

Anterix's authorization permits repurchases of up to $250.0 million of common stock on or before September 22, 2029. The full $250.0 million remained available at September 30, 2026, and the company made no repurchases during its fiscal 2027 second quarter.