Anterix Inc. Reports Third Quarter Fiscal Year 2026 Results
Rhea-AI Summary
Anterix (NASDAQ: ATEX) reported third quarter fiscal 2026 results and filed its Form 10-Q for the three and nine months ended December 31, 2025.
Key highlights: Approximately $123 million of contracted proceeds outstanding with line of sight to payment of over $80 million in Q4 FY2026; exchanged narrowband for broadband licenses in 12 counties (gain $0.8M); delivered broadband licenses covering 10 counties (gain $0.3M); invested $3 million in spectrum clearing; advancing an approximate $3 billion pipeline across 60+ potential customers; FCC voted on January 27, 2026 to expand 900 MHz broadband allocation from 6 MHz to 10 MHz; entered a $13 million spectrum sale with CPS Energy (50% upfront).
Liquidity: No debt, cash and cash equivalents of $29.5 million, restricted cash of $8.4 million in escrow, and an authorized share repurchase program up to $250 million with $226.7 million remaining as of December 31, 2025.
Positive
- $123 million of contracted proceeds outstanding
- Line of sight to payment of over $80 million in Q4 FY2026
- Entered $13 million spectrum sale with CPS Energy (50% upfront)
- FCC vote expands 900 MHz broadband from 6 MHz to 10 MHz
- Advancing an approximately $3 billion pipeline across 60+ potential customers
- No debt and $29.5 million cash and cash equivalents
Negative
- Restricted cash of $8.4 million held in escrow
- Invested $3 million in spectrum clearing costs during the quarter
- No share repurchase activity in the fiscal 2026 third quarter despite $226.7 million remaining under the program
Key Figures
Market Reality Check
Peers on Argus
ATEX showed a modest move while peers were mixed: CABO +2.98%, ATUS +1.70%, SIFY -0.87%, with WOW and SHEN flat. This points to company-specific trading around the earnings update.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 12 | Quarterly earnings | Positive | +1.9% | Q2 FY2026 results with large spectrum gains and solid cash position. |
| Aug 12 | Quarterly earnings | Negative | -4.4% | Q1 FY2026 results with contracted proceeds update and pipeline details. |
| Jun 24 | Annual results | Negative | -6.9% | Full-year FY2025 results emphasizing new spectrum deals and cash levels. |
| Feb 11 | Quarterly earnings | Negative | -0.7% | Q3 FY2025 results detailing cash, contracted proceeds, and cost plans. |
| Nov 13 | Quarterly earnings | Negative | -5.0% | Q2 FY2025 results with cash, contracted proceeds, and pipeline focus. |
Earnings headlines have produced an average move of -3.02% over the last 5 events, skewed slightly to negative reactions.
Across the last five earnings releases, Anterix repeatedly highlighted contracted proceeds, a roughly $3 billion opportunity pipeline, and a strong balance sheet with no debt and substantial cash. Prior results also emphasized large spectrum-sale gains, ongoing spectrum clearing, and a sizeable share repurchase authorization of $250 million. The current Q3 FY2026 report continues this pattern, stressing contracted proceeds, cash levels, pipeline scale, and the unused capacity under the repurchase program as key elements of the story.
Historical Comparison
In the past five earnings releases, ATEX moved an average of -3.02%, with most reactions skewing negative despite recurring emphasis on contracted proceeds, cash, and a sizable pipeline.
Earnings updates consistently stress growth in contracted proceeds, maintenance of a debt-free balance sheet, and a stable ~$3 billion pipeline, alongside an unchanged $250 million repurchase authorization.
Market Pulse Summary
This announcement highlights Anterix’s Q3 FY2026 position: approximately $123 million in contracted proceeds outstanding, line of sight to over $80 million in Q4 payments, and a $3 billion pipeline across 60+ prospects. Liquidity includes $29.5 million in cash, $8.4 million in restricted cash, and no debt, plus $226.7 million remaining under a $250 million buyback. Investors may watch future collections, new spectrum deals, and cash trends in upcoming quarters.
Key Terms
form 10-q regulatory
AI-generated analysis. Not financial advice.
WOODLAND PARK, N.J., Feb. 11, 2026 (GLOBE NEWSWIRE) -- Anterix (NASDAQ: ATEX) today announced its third quarter fiscal 2026 results and filed its Form 10-Q for the three and nine months ended December 31, 2025. The Company also issued an update on its Demonstrated Intent metric which can be found on Anterix’s website at https://investors.anterix.com/events-presentations.
Financial and Operational Highlights
- Approximately
$123 million of contracted proceeds outstanding with line of sight to payment of over$80 million of outstanding contracted proceeds in the fourth quarter of fiscal 2026 - Exchanged narrowband for broadband licenses in 12 counties and recorded a
$0.8 million gain on exchange of broadband licenses - Delivered broadband licenses covering 10 counties to customers and recorded a
$0.3 million gain on sale of broadband licenses - Invested
$3 million in spectrum clearing costs - Continued to advance approximately
$3 billion pipeline of prospective contract opportunities across 60+ potential customers - On January 27, 2026, the Federal Communications Commission (the “FCC”) announced a vote to expand the 900 MHz broadband allocation from 6 MHz to 10 MHz, a milestone stemming from Anterix’s joint petition expected to significantly enhance private wireless broadband capabilities for utilities and critical infrastructure providers
- On January 30, 2026, the Company entered into a new spectrum sale agreement with CPS Energy for a total contract price of
$13 million with50% payable upfront, and the remaining50% payable at the end of our fiscal 2027
Liquidity and Balance Sheet
At December 31, 2025, 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, February 12, 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/q3-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 to its targeted utility customers in accordance with its plans and expectations; (v) Anterix’s ability to execute on its customer engagement initiatives; (vi) the timing and outcome of Anterix’s strategic review process; (vii) the FCC may not approve the expansion of the 900 MHz broadband allocation from 6 MHz to 10 MHz and (viii) 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 | ||||||||
| (Unaudited, in thousands, except share and per share data) | ||||||||
| December 31, 2025 | March 31, 2025 | |||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 29,534 | $ | 47,374 | ||||
| Non-trade receivable | — | 2,926 | ||||||
| Spectrum receivable | 8,702 | 7,107 | ||||||
| Escrow deposits | 8,353 | 547 | ||||||
| Prepaid expenses and other current assets | 3,473 | 2,801 | ||||||
| Total current assets | 50,062 | 60,755 | ||||||
| Escrow deposits | — | 7,103 | ||||||
| Property and equipment, net | 922 | 1,302 | ||||||
| Right of use assets, net | 4,276 | 4,829 | ||||||
| Intangible assets | 330,777 | 228,983 | ||||||
| Deferred broadband costs | 29,494 | 28,944 | ||||||
| Other assets | 1,472 | 1,188 | ||||||
| Total assets | $ | 417,003 | $ | 333,104 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable and other accrued expenses | $ | 14,893 | $ | 9,075 | ||||
| Accrued severance and other related charges | 2,693 | 2,265 | ||||||
| Due to related parties | — | 30 | ||||||
| Operating lease liabilities | 1,412 | 1,643 | ||||||
| Contingent liability | 9,150 | 8,093 | ||||||
| Deferred revenue | 7,867 | 6,095 | ||||||
| Total current liabilities | 36,015 | 27,201 | ||||||
| Operating lease liabilities | 3,232 | 3,747 | ||||||
| Contingent liability | 6,000 | 15,336 | ||||||
| Deferred revenue | 124,729 | 118,577 | ||||||
| Deferred gain on sale of intangible assets | 4,911 | 4,911 | ||||||
| Deferred income tax | 6,141 | 6,606 | ||||||
| Other liabilities | 24 | 125 | ||||||
| Total liabilities | 181,052 | 176,503 | ||||||
| Commitments and contingencies (See Note 12) | ||||||||
| Stockholders’ equity | ||||||||
| Preferred stock, | — | — | ||||||
| Common stock, | 2 | 2 | ||||||
| Additional paid-in capital | 556,767 | 548,542 | ||||||
| Accumulated deficit | (320,818 | ) | (391,943 | ) | ||||
| Total stockholders’ equity | 235,951 | 156,601 | ||||||
| Total liabilities and stockholders’ equity | $ | 417,003 | $ | 333,104 | ||||
| Anterix Inc. | |||||||||||||||
| Earnings Release Tables | |||||||||||||||
| Consolidated Statements of Operations | |||||||||||||||
| (Unaudited, in thousands, except share and per share data) | |||||||||||||||
| Three months ended December 31, | Nine months ended December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Spectrum revenue | $ | 1,573 | $ | 1,566 | $ | 4,543 | $ | 4,642 | |||||||
| Operating expenses | |||||||||||||||
| General and administrative | 8,656 | 9,203 | 27,503 | 33,451 | |||||||||||
| Sales and support | 1,439 | 1,309 | 4,381 | 4,516 | |||||||||||
| Product development | 1,104 | 1,120 | 3,436 | 4,646 | |||||||||||
| Severance and other related charges | 465 | 3,513 | 1,820 | 3,513 | |||||||||||
| Depreciation and amortization | 104 | 142 | 361 | 472 | |||||||||||
| Operating expenses | 11,768 | 15,287 | 37,501 | 46,598 | |||||||||||
| Gain on exchange of intangible assets, net | (806 | ) | (20,753 | ) | (94,324 | ) | (20,846 | ) | |||||||
| Gain on sale of intangible assets, net | (329 | ) | — | (12,759 | ) | — | |||||||||
| Loss from disposal of long-lived assets, net | 1 | — | 30 | — | |||||||||||
| (Loss) income from operations | (9,061 | ) | 7,032 | 74,095 | (21,110 | ) | |||||||||
| Interest income | 340 | 434 | 1,161 | 1,713 | |||||||||||
| Other income | 68 | 10 | 68 | 35 | |||||||||||
| (Loss) income before income taxes | (8,653 | ) | 7,476 | 75,324 | (19,362 | ) | |||||||||
| Income tax (benefit) expense | (2,052 | ) | (234 | ) | 3,209 | 1,218 | |||||||||
| Net (loss) income | $ | (6,601 | ) | $ | 7,710 | $ | 72,115 | $ | (20,580 | ) | |||||
| Net (loss) income per common share basic | $ | (0.35 | ) | $ | 0.41 | $ | 3.86 | $ | (1.11 | ) | |||||
| Net (loss) income per common share diluted | $ | (0.35 | ) | $ | 0.41 | $ | 3.85 | $ | (1.11 | ) | |||||
| Weighted-average common shares used to compute basic net (loss) income per share | 18,682,899 | 18,609,736 | 18,664,047 | 18,557,453 | |||||||||||
| Weighted-average common shares used to compute diluted net (loss) income per share | 18,682,899 | 18,783,445 | 18,712,713 | 18,557,453 | |||||||||||
| Anterix Inc. | |||||||||||||||
| Earnings Release Tables | |||||||||||||||
| Consolidated Statements of Cash Flows | |||||||||||||||
| (Unaudited, in thousands) | |||||||||||||||
| Three months ended December 31, | Nine months ended December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||||||
| Net (loss) income | $ | (6,601 | ) | $ | 7,710 | $ | 72,115 | $ | (20,580 | ) | |||||
| Adjustments to reconcile net (loss) income to net cash used in operating activities | |||||||||||||||
| Depreciation and amortization | 104 | 142 | 361 | 472 | |||||||||||
| Stock compensation expense | 2,215 | 2,865 | 8,794 | 10,619 | |||||||||||
| Deferred income taxes | (345 | ) | (934 | ) | (465 | ) | 455 | ||||||||
| Rights of use assets | 37 | 394 | 553 | 1,226 | |||||||||||
| Gain on exchange of intangible assets, net | (806 | ) | (20,753 | ) | (94,324 | ) | (20,846 | ) | |||||||
| Gain on sale of intangible assets, net | (329 | ) | — | (12,759 | ) | — | |||||||||
| Loss from disposal of long-lived assets, net | 1 | — | 30 | — | |||||||||||
| Changes in operating assets and liabilities | |||||||||||||||
| Non-trade receivable | — | — | 2,926 | — | |||||||||||
| Prepaid expenses and other assets | (537 | ) | (260 | ) | (186 | ) | 1,265 | ||||||||
| Accounts payable and other accrued expenses | (3,702 | ) | 1,920 | (1,590 | ) | 383 | |||||||||
| Accrued severance and other related charges | (4 | ) | 2,290 | 428 | 2,290 | ||||||||||
| Due to related party | — | — | (30 | ) | — | ||||||||||
| Operating lease liabilities | (86 | ) | (421 | ) | (746 | ) | (1,453 | ) | |||||||
| Contingent liability | (361 | ) | — | 7,064 | 10,000 | ||||||||||
| Deferred revenue | 2,180 | (566 | ) | 7,924 | 3,849 | ||||||||||
| Other liabilities | (38 | ) | (86 | ) | (103 | ) | (388 | ) | |||||||
| Net cash used in operating activities | (8,272 | ) | (7,699 | ) | (10,008 | ) | (12,708 | ) | |||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||||
| Purchases of intangible assets and other related costs | (2,653 | ) | (1,717 | ) | (19,800 | ) | (12,621 | ) | |||||||
| Proceeds from sale of spectrum | 361 | — | 14,239 | — | |||||||||||
| Purchases of equipment | (9 | ) | — | (9 | ) | (41 | ) | ||||||||
| Net cash used in investing activities | (2,301 | ) | (1,717 | ) | (5,570 | ) | (12,662 | ) | |||||||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||||||
| Proceeds from stock option exercises | — | — | 157 | 1,960 | |||||||||||
| Repurchase of common stock | — | (4,416 | ) | (990 | ) | (6,443 | ) | ||||||||
| Payments of withholding tax on net issuance of restricted stock | (10 | ) | (477 | ) | (726 | ) | (1,843 | ) | |||||||
| Net cash used in financing activities | (10 | ) | (4,893 | ) | (1,559 | ) | (6,326 | ) | |||||||
| Net change in cash and cash equivalents and restricted cash | (10,583 | ) | (14,309 | ) | (17,137 | ) | (31,696 | ) | |||||||
| CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | |||||||||||||||
| Cash and cash equivalents and restricted cash at beginning of the year | 48,470 | 50,737 | 55,024 | 68,124 | |||||||||||
| Cash and cash equivalents and restricted cash at end of the year | $ | 37,887 | $ | 36,428 | $ | 37,887 | $ | 36,428 | |||||||
| Three months ended December 31, | Nine months ended December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||||||||||||||
| Cash paid during the period: | |||||||||||||||
| Taxes paid | $ | 3,050 | $ | 173 | $ | 3,909 | $ | 1,058 | |||||||
| Operating leases paid | $ | 477 | $ | 533 | $ | 1,592 | $ | 1,732 | |||||||
| Non-cash investing activity: | |||||||||||||||
| Capitalized change in estimated asset retirement obligations | $ | (10 | ) | $ | — | $ | 53 | $ | — | ||||||
| Network equipment provided in exchange for wireless licenses | $ | — | $ | — | $ | — | $ | 47 | |||||||
| Narrowband spectrum licenses received in connection with the LCRA Agreement | $ | — | $ | 1,430 | $ | — | $ | 1,430 | |||||||
| Derecognition of contingent liability related to sale of intangible assets | $ | 395 | $ | — | $ | 15,343 | $ | — | |||||||
| Right of use assets new leases | $ | 300 | $ | — | $ | 621 | $ | 290 | |||||||
| Right of use assets modifications and renewals | $ | — | $ | 124 | $ | 47 | $ | 1,221 | |||||||
| 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: | |||||||||||||||
| December 31, 2025 | September 30, 2025 | March 31, 2025 | |||||||||||||
| Cash and cash equivalents | $ | 29,534 | $ | 39,070 | $ | 47,374 | |||||||||
| Escrow deposits | 8,353 | 9,400 | 7,650 | ||||||||||||
| Total cash and cash equivalents and restricted cash | $ | 37,887 | $ | 48,470 | $ | 55,024 | |||||||||
| December 31, 2024 | September 30, 2024 | March 31, 2024 | |||||||||||||
| Cash and cash equivalents | $ | 28,797 | $ | 43,129 | $ | 60,578 | |||||||||
| Escrow deposits | 7,631 | 7,608 | 7,546 | ||||||||||||
| Total cash and cash equivalents and restricted cash | $ | 36,428 | $ | 50,737 | $ | 68,124 | |||||||||
| Anterix Inc. | |||||||||||
| Earnings Release Tables | |||||||||||
| Other Financial Information | |||||||||||
| (Unaudited, in thousands except per share data) | |||||||||||
| Share Repurchase Program | Three months ended December 31, | Nine months ended December 31, | |||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||
| Number of shares repurchased and retired | — | 132 | 43 | 195 | |||||||
| Average price paid per share* | $ | — | $ | 33.59 | $ | 22.94 | $ | 32.83 | |||
| Total cost to repurchase | $ | — | $ | 4,416 | $ | 990 | $ | 6,443 | |||
| * Average price paid per share includes costs associated with the repurchases, excluding excise taxes associated with the share repurchases. | |||||||||||
| As of December 31, 2025, | |||||||||||
FAQ
What did Anterix (ATEX) report for its third quarter fiscal 2026 results?
What does the FCC 900 MHz expansion announced January 27, 2026 mean for ATEX (NASDAQ: ATEX)?
How much contracted proceeds does Anterix (ATEX) have and when are payments expected?
What are the terms of the CPS Energy spectrum sale announced by Anterix (ATEX)?
What is Anterix’s liquidity position and share repurchase status as of December 31, 2025?
