Anterix (ATEX) Q1 2027: cash builds to $116M as spectrum revenue grows
Rhea-AI Filing Summary
Anterix Inc. reported first quarter fiscal 2027 results for the three months ended June 30, 2026 and filed its Form 10-Q. Spectrum revenue was $1.96 million, up from $1.42 million a year earlier. Net income was $0.24 million, compared with $25.18 million in the prior-year quarter, when results included much larger gains on exchanges and sales of intangible assets.
The company highlighted approximately $33.1 million of contracted proceeds outstanding, with more than $15.7 million received in the quarter and about $9.6 million expected during the remainder of fiscal 2027. Anterix recorded a $10.7 million gain on exchange of broadband licenses and invested $6.7 million in spectrum clearing costs. At June 30, 2026, Anterix had no debt, cash and cash equivalents of $116.0 million, and restricted cash of $3.9 million.
The company maintained an authorized share repurchase program of up to $250.0 million through September 21, 2026, with $226.7 million still available and no repurchases in the quarter. Management scheduled an investor conference call on August 12, 2026 to discuss the business update.
Positive
- Spectrum revenue rose to $1.96 million from $1.42 million year over year, reflecting growth in contracted spectrum activity.
- Operating cash flow improved to $2.05 million provided from $3.14 million used in the prior-year quarter.
- Anterix ended the quarter with $116.0 million in cash and cash equivalents, $3.9 million in restricted cash, and no debt, providing financial flexibility.
- The company reported approximately $33.1 million of contracted proceeds outstanding, with about $9.6 million expected to be received over the remainder of fiscal 2027.
Negative
- Net income declined to $0.24 million from $25.18 million a year earlier, reflecting much lower gains on exchanges and sales of intangible assets.
- Total operating expenses of $12.86 million exceeded spectrum revenue, contributing to a small operating loss despite the gain on exchange of intangible assets.
Filing Explained
Common shares issued and outstanding rose from 18,914,271 at March 31 to 19,550,348 at June 30, 2026, while the quarter included stock-option exercise proceeds. The higher share count reduces existing holders’ percentage ownership absent offsetting changes.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Spectrum revenue: $1,958 thousand
Net income: $240 thousand
Operating cash flow: $2,045 thousand
+5 more
8 metrics
Spectrum revenue
$1,958 thousand
Three months ended June 30, 2026, up from $1,418 thousand in 2025
Net income
$240 thousand
Three months ended June 30, 2026, versus $25,180 thousand in 2025
Operating cash flow
$2,045 thousand
Net cash provided by operating activities in Q1 fiscal 2027
Cash and cash equivalents
$116,010 thousand
Balance at June 30, 2026; company reported no debt
Contracted proceeds outstanding
Approximately $33.1 million
Including over $15.7 million received in Q1 fiscal 2027
Gain on exchange of broadband licenses
$10,653 thousand
Gain on exchange of intangible assets in Q1 fiscal 2027
Share repurchase authorization remaining
$226.7 million
Available under $250.0 million program as of June 30, 2026
Spectrum clearing investment
$6.7 million
Invested in spectrum clearing costs during Q1 fiscal 2027
Key Terms
spectrum revenue, deferred revenue, restricted cash, contingent liability, +2 more
6 terms
spectrum revenue financial
"Spectrum revenue | $ | 1,958 | | | $ | 1,418"
deferred revenue financial
"Deferred revenue | 160,582 | | 146,665"
Cash a company has already received for goods or services it has promised but not yet delivered; it's recorded as a liability because the company still owes that product, service, or future revenue recognition. For investors, deferred revenue signals upcoming work or deliveries that will convert into reported sales over time and affects short-term obligations, cash flow quality, and how quickly a firm can grow recognized revenue—think of it like prepaid subscriptions or gift cards a business must honor later.
restricted cash financial
"Total cash and cash equivalents and restricted cash | | $ | 119,920"
Cash that a company holds but cannot use for day-to-day operations because it is set aside for a specific purpose—such as meeting loan covenants, serving as collateral, funding an escrow, or complying with regulations. Like money in a locked savings account earmarked for a bill, restricted cash reduces the cash available to run the business and pay dividends or debts, so investors treat it differently when assessing a company’s true short-term financial strength.
contingent liability financial
"Contingent liability | 6,000 | | 6,000"
A contingent liability is a potential financial obligation that may or may not happen, depending on the outcome of a future event. It’s like a promise to pay if certain circumstances occur, such as if a court rules against a company or a loan guarantee is called upon. For investors, understanding these liabilities helps gauge possible risks that could affect a company's financial health.
asset retirement obligations financial
"Capitalized change in estimated asset retirement obligations | $ | —"
Asset retirement obligations are a company’s recorded promise to pay for dismantling, cleaning up, or restoring property when a long-lived asset is retired — for example decommissioning a plant or removing equipment. Companies estimate the future cleanup cost today and book it as a liability (and add the cost to the asset), so it affects the balance sheet, reported profits over time, and future cash needs; investors watch it like a planned bill that can reduce cash available for returns.
broadband licenses held for sale financial
"Broadband licenses held for sale | 13,000 | | —"
Earnings Snapshot
Spectrum revenue: $1,958 thousand
Three months ended June 30, 2026
Spectrum revenue
$1,958 thousand
Increased from $1,418 thousand in the prior-year quarter
Net income
$240 thousand
Decreased from $25,180 thousand in the prior-year quarter
Net cash provided by operating activities
$2,045 thousand
Improved from $3,140 thousand used in the prior-year quarter
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did Anterix (ATEX) perform financially in Q1 fiscal 2027?
Anterix reported net income of $0.24 million for Q1 fiscal 2027 on $1.96 million of spectrum revenue. A year earlier, net income was $25.18 million, driven by significantly larger gains on exchanges and sales of intangible assets.
What was Anterix (ATEX)’s cash and debt position at June 30, 2026?
At June 30, 2026, Anterix had $116.0 million in cash and cash equivalents and $3.9 million in restricted cash, with no debt. This balance sheet structure provides liquidity to fund spectrum investments and ongoing operations.
How much contracted proceeds does Anterix (ATEX) expect in fiscal 2027?
Anterix reported approximately $33.1 million of contracted proceeds outstanding, with more than $15.7 million received in Q1 fiscal 2027 and about $9.6 million expected to be received during the remainder of fiscal 2027.
What were Anterix (ATEX)’s key spectrum and license activities this quarter?
Anterix entered a 10 MHz 900 MHz spectrum license sale with Benton PUD for $0.8 million, exchanged narrowband for broadband licenses in six counties recording a $10.7 million gain, and invested $6.7 million in spectrum clearing costs.
How did Anterix’s (ATEX) operating cash flow change year over year?
Net cash provided by operating activities was $2.05 million in Q1 fiscal 2027, compared with $3.14 million used in Q1 fiscal 2026, reflecting improved cash generation despite much lower net income.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 11, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction | (Commission File Number) | (IRS Employer | ||||||||||||
| of incorporation) | Identification No.) | |||||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
(973 ) 771-0300
Registrant’s telephone number, including area code
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On August 11, 2026 , Anterix Inc. (the “Company”) issued an Earnings Release announcing its first quarter fiscal 2027 financial results for the three months ended June 30, 2026. A copy of the Earnings Release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Current Report and in Exhibit 99.1 of Item 9.01 below is being “furnished” pursuant to Item 2.02 of Form 8-K, and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. Accordingly, the information in Item 2.02 will not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or under the Exchange Act, unless specifically identified therein as being incorporated therein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |||||||
99.1 | Anterix Inc. Earnings Release, dated | |||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| Anterix Inc. | |||||
Date: | /s/ Elena Marquez | ||||
| Elena Marquez | |||||
| Chief Financial Officer | |||||
Anterix Inc. Reports
First Quarter Fiscal Year 2027 Results
Woodland Park, NJ – August 11, 2026 – Anterix (NASDAQ: ATEX) today announced its first quarter fiscal 2027 results and filed its Form 10-Q for the three months ended June 30, 2026.
Financial and Operational Highlights
–Approximately $33.1 million of contracted proceeds outstanding with more than $15.7 million received from customers during the first quarter of fiscal 2027 and approximately $9.6 million expected to be received during the remainder of fiscal 2027
–On April 16, 2026, the Company entered into a 10 MHz 900 MHz spectrum license sale agreement with Benton PUD for a total contract price of $0.8 million
–Exchanged narrowband for broadband licenses in 6 counties and recorded a $10.7 million gain on exchange of broadband licenses
–Invested $6.7 million in spectrum clearing costs
Liquidity and Balance Sheet
At June 30, 2026, the Company had no debt and cash and cash equivalents of $116.0 million. In addition, the Company had a restricted cash balance of $3.9 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 2027 first quarter, Anterix had no share repurchase activity. As of June 30, 2026, $226.7 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, August 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://bit.ly/anterixQ1FY27 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
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)
| June 30, 2026 | March 31, 2026 | ||||||||||
| ASSETS | |||||||||||
| Current assets | |||||||||||
| Cash and cash equivalents | $ | 116,010 | $ | 98,533 | |||||||
| Spectrum receivable | 14,266 | 10,638 | |||||||||
| Broadband licenses held for sale | 13,000 | — | |||||||||
| Escrow deposits | 3,910 | 6,130 | |||||||||
| Prepaid expenses and other current assets | 5,892 | 4,684 | |||||||||
| Total current assets | 153,078 | 119,985 | |||||||||
| Property and equipment, net | 761 | 827 | |||||||||
| Right of use assets, net | 3,757 | 4,069 | |||||||||
| Intangible assets | 310,285 | 310,712 | |||||||||
| Deferred broadband costs | 29,503 | 29,069 | |||||||||
| Other assets | 541 | 548 | |||||||||
| Total assets | $ | 497,925 | $ | 465,210 | |||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||
| Current liabilities | |||||||||||
| Accounts payable and other accrued expenses | $ | 11,915 | $ | 15,028 | |||||||
| Accrued severance and other related charges | 1,633 | 2,810 | |||||||||
| Operating lease liabilities | 1,447 | 1,424 | |||||||||
| Contingent liability | 2,220 | 2,220 | |||||||||
| Deferred revenue | 14,331 | 14,513 | |||||||||
| Total current liabilities | 31,546 | 35,995 | |||||||||
| Operating lease liabilities | 2,641 | 2,995 | |||||||||
| Contingent liability | 6,000 | 6,000 | |||||||||
| Deferred revenue | 160,582 | 146,665 | |||||||||
| Deferred gain on sale of intangible assets | 4,911 | 4,911 | |||||||||
| Deferred income tax | 6,451 | 6,323 | |||||||||
| Total liabilities | 212,131 | 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 June 30, 2026 and March 31, 2026 | — | — | |||||||||
Common stock, $0.0001 par value per share, 100,000,000 shares authorized and 19,550,348 shares issued and outstanding at June 30, 2026 and 18,914,271 shares issued and outstanding at March 31, 2026 | 2 | 2 | |||||||||
| Additional paid-in capital | 587,850 | 564,617 | |||||||||
| Accumulated deficit | (302,058) | (302,298) | |||||||||
| Total stockholders’ equity | 285,794 | 262,321 | |||||||||
| Total liabilities and stockholders’ equity | $ | 497,925 | $ | 465,210 | |||||||
Anterix Inc.
Earnings Release Tables
Consolidated Statements of Operations
(Unaudited, in thousands, except share and per share data)
| Three months ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Spectrum revenue | $ | 1,958 | $ | 1,418 | |||||||
| Operating expenses | |||||||||||
| General and administrative | 9,624 | 10,449 | |||||||||
| Sales and support | 1,911 | 1,493 | |||||||||
| Product development | 1,220 | 1,120 | |||||||||
| Severance and other related charges | — | 620 | |||||||||
| Depreciation and amortization | 101 | 124 | |||||||||
| Operating expenses | 12,856 | 13,806 | |||||||||
| Gain on exchange of intangible assets, net | (10,653) | (33,916) | |||||||||
| Gain on sale of intangible assets, net | — | (961) | |||||||||
| Loss from disposal of long-lived assets, net | 1 | 8 | |||||||||
(Loss) income from operations | (246) | 22,481 | |||||||||
| Interest income | 845 | 442 | |||||||||
| Other income | 15 | — | |||||||||
Income before income taxes | 614 | 22,923 | |||||||||
Income tax expense (benefit) | 374 | (2,257) | |||||||||
Net income | $ | 240 | $ | 25,180 | |||||||
Net income per common share basic | $ | 0.01 | $ | 1.35 | |||||||
Net income per common share diluted | $ | 0.01 | $ | 1.35 | |||||||
| Weighted-average common shares used to compute basic net income per share | 19,085,714 | 18,621,701 | |||||||||
Weighted-average common shares used to compute diluted net income per share | 19,627,512 | 18,704,131 | |||||||||
Anterix Inc.
Earnings Release Tables
Consolidated Statements of Cash Flows
(Unaudited, in thousands)
| Three months ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||
| Net income | $ | 240 | $ | 25,180 | |||||||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities | |||||||||||
| Depreciation and amortization | 101 | 124 | |||||||||
| Stock compensation expense | 3,282 | 3,632 | |||||||||
| Deferred income taxes | 128 | (2,507) | |||||||||
| Right of use assets | 312 | 113 | |||||||||
| Gain on exchange of intangible assets, net | (10,653) | (33,916) | |||||||||
| Gain on sale of intangible assets, net | — | (961) | |||||||||
| Loss from disposal of long-lived assets, net | 1 | 8 | |||||||||
| Changes in operating assets and liabilities | |||||||||||
| Non-trade receivable | — | 2,926 | |||||||||
| Prepaid expenses and other assets | (1,072) | 377 | |||||||||
| Accounts payable and other accrued expenses | (2,521) | (2,556) | |||||||||
| Accrued severance and other related charges | (1,177) | 95 | |||||||||
| Operating lease liabilities | (331) | (186) | |||||||||
| Contingent liability | — | 1,054 | |||||||||
| Deferred revenue | 13,735 | 3,542 | |||||||||
| Other liabilities | — | (65) | |||||||||
| Net cash provided by (used in) operating activities | 2,045 | (3,140) | |||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||
| Purchases of intangible assets and other related costs | (6,703) | (3,966) | |||||||||
| Proceeds from sale of spectrum | — | 1,301 | |||||||||
| Purchases of equipment | (36) | — | |||||||||
| Net cash used in investing activities | (6,739) | (2,665) | |||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||
| Proceeds from stock option exercises | 20,267 | — | |||||||||
| Payments of withholding tax on net issuance of restricted stock | (316) | (642) | |||||||||
| Net cash provided by (used in) financing activities | 19,951 | (642) | |||||||||
| Net change in cash and cash equivalents and restricted cash | 15,257 | (6,447) | |||||||||
| CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | |||||||||||
| Cash and cash equivalents and restricted cash at beginning of the period | 104,663 | 55,024 | |||||||||
| Cash and cash equivalents and restricted cash at end of the period | $ | 119,920 | $ | 48,577 | |||||||
| Three months ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||||||||||
| Cash paid during the period: | |||||||||||
| Taxes paid, including excise tax | $ | 216 | $ | — | |||||||
| Operating leases paid | $ | 419 | $ | 569 | |||||||
| Non-cash investing activity: | |||||||||||
| Capitalized change in estimated asset retirement obligations | $ | — | $ | (14) | |||||||
| Derecognition of contingent liability related to sale of intangible assets | $ | — | $ | 1,172 | |||||||
| Right of use assets new leases | $ | 42 | $ | 321 | |||||||
| Right of use assets modifications and renewals | $ | (5) | $ | 37 | |||||||
| 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: | ||||||||||||||
| June 30, 2026 | March 31, 2026 | |||||||||||||
| Cash and cash equivalents | $ | 116,010 | $ | 98,533 | ||||||||||
| Escrow deposits | 3,910 | 6,130 | ||||||||||||
| Total cash and cash equivalents and restricted cash | $ | 119,920 | $ | 104,663 | ||||||||||
| June 30, 2025 | March 31, 2025 | |||||||||||||
| Cash and cash equivalents | $ | 41,432 | $ | 47,374 | ||||||||||
| Escrow deposits | 7,145 | 7,650 | ||||||||||||
| Total cash and cash equivalents and restricted cash | $ | 48,577 | $ | 55,024 | ||||||||||