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.


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Anterix Inc.