Anterix, Inc. (NASDAQ:ATEX) Q2 2025 Earnings Conference Call November 14, 2024 9:00 AM ET Company Participants Natasha Vecchiarelli - VP, IR & Corporate Communications Scott Lang - President and CEO Tim Gray - CFO Ryan Gerbrandt - COO Chris Guttman- McCabe - Chief Regulatory & Communications Officer Conference Call Participants George Sutton - Craig Hallum Mike Crawford - B. Riley Operator Good morning and welcome to the Anterix Fiscal Year 2025 Second Quarter Earnings Call. All participants will be in list ...

Anterix (ATEX) came out with a quarterly loss of $0.69 per share versus the Zacks Consensus Estimate of a loss of $0.59. This compares to loss of $0.55 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -16.95%. A quarter ago, it was expected that this wireless communications company would post a loss of $0.45 per share when it actually produced a loss of $0.84, delivering a surprise of -86.67%.Over the last four quarters, the co ...

Financial Performance - Spectrum revenue for the three months ended September 30, 2024, was $1,551,000, compared to $1,052,000 for the same period in 2023, representing a 47.4% increase[13] - Net loss for the three months ended September 30, 2024, was $(12,766,000), compared to a net income of $2,073,000 for the same period in 2023[13] - Operating expenses for the three months ended September 30, 2024, were $14,681,000, slightly up from $14,571,000 in the same period last year, an increase of 0.8%[13] - Interest income for the three months ended September 30, 2024, was $585,000, compared to $396,000 for the same period in 2023, an increase of 47.7%[13] - The company experienced a net loss of $12,766,000 for the quarter ending September 30, 2024, compared to a net loss of $28,290,000 for the six months ending September 30, 2023[20] - Basic net loss per common share for the three months ended September 30, 2024, was $(12,766,000), compared to net income of $2,073,000 for the same period in 2023[61] - Net loss for the six months ended September 30, 2024 increased by approximately $28.2 million to $28.3 million from $45 thousand for the same period in 2023[90] Assets and Liabilities - Total current assets decreased from $73,011,000 as of March 31, 2024, to $56,774,000 as of September 30, 2024, a decline of 22.2%[10] - Cash and cash equivalents decreased from $60,578,000 as of March 31, 2024, to $43,129,000 as of September 30, 2024, a decrease of 28.8%[10] - The company reported a contingent liability of $25,000,000 as of September 30, 2024, up from $15,000,000 as of March 31, 2024[10] - Total liabilities increased from $163,862,000 as of March 31, 2024, to $178,174,000 as of September 30, 2024, an increase of 8.7%[10] - The company’s accumulated deficit increased from $(372,173,000) as of March 31, 2024, to $(402,490,000) as of September 30, 2024[10] - Cash and cash equivalents at the end of the period on September 30, 2024, were $50,737,000, a decrease from $68,124,000 at the beginning of the period[21] Stock and Equity - As of September 30, 2024, Anterix Inc. reported a total stockholders' equity of $139,063,000, down from $161,032,000 as of March 31, 2024, reflecting a decrease of approximately 13.6%[15] - The company had a total of 18,618,000 shares outstanding as of September 30, 2024, an increase from 18,453,000 shares as of March 31, 2024[15] - The Company has $234.0 million remaining under the share repurchase program as of September 30, 2024[58] - The average price paid per share for repurchases during the six months ended September 30, 2024, was $32.47, with a total cost of $2,027,000[57] Revenue and Deferred Revenue - Total spectrum revenue for the three months ended September 30, 2024, was $1,551 million, a 47.4% increase from $1,052 million in the same period of 2023[26] - Contract liabilities increased to $126,627 thousand as of September 30, 2024, compared to $80,265 thousand in the same period of 2023, reflecting a significant growth in advanced consideration received[31] - Revenue allocated to remaining performance obligations was $184.3 million as of September 30, 2024, to be recognized over the remaining contract terms up to 30 years[33] - The Company recorded a deferred revenue of $4,415,000 for the six months ending September 30, 2024, down from $19,506,000 for the same period in the previous year[20] - The company recorded $67.1 million in deferred revenue related to prepayments received under the Xcel Energy Agreement as of September 30, 2024[68] Expenses - Anterix Inc. reported stock compensation expenses of $3,408,000 for the quarter ending September 30, 2024, compared to $7,754,000 for the same period in the previous year[20] - Product development expenses rose by $0.6 million, or 55%, to $1.8 million for the three months ended September 30, 2024, primarily due to higher headcount and IT-related costs[87] - Sales and support expenses increased by $0.6 million, or 24%, to $3.2 million for the six months ended September 30, 2024, mainly due to higher headcount costs and fees related to the Oncor Agreement[92] - Product development expenses rose by $1.3 million, or 59%, to $3.5 million for the six months ended September 30, 2024, driven by higher consulting fees, headcount costs, and IT expenses[91] Cash Flow - The company reported a cash flow used in operating activities of $5,009,000 for the six months ending September 30, 2024, compared to a cash flow provided of $2,213,000 for the same period in the previous year[20] - Net cash used in operating activities was approximately $5.0 million for the six months ended September 30, 2024, primarily due to an operating loss and changes in accounts payable[98] - Net cash used in investing activities was $10.9 million for the six months ended September 30, 2024, compared to net cash provided of $14.9 million for the same period in 2023[100] - Net cash used in financing activities was $1.4 million for the six months ended September 30, 2024, down from $11.8 million in the same period in 2023[102] Market and Economic Conditions - The company is closely monitoring macroeconomic conditions, including inflation, which may adversely affect its commercialization efforts and financial condition[70] - Inflationary factors have increased certain operating expenses, potentially harming commercialization efforts and revenues[115] - The company continues to monitor market risk exposure, including impacts from health pandemics and macroeconomic volatility[116]

Anterix Inc. Reports Second Quarter Fiscal Year 2025 Results Woodland Park, NJ – November 13, 2024 – Anterix (NASDAQ: ATEX) today announced its second quarter fiscal 2025 results and filed its Form 10-Q for the three and six months ended September 30, 2024. The Company also issued an update on its Demonstrated Intent metric which can be found on Anterix's website at https://www.investors.anterix.com/Q22025/. "Our results in the second quarter of fiscal 2025 reflect Anterix's strong market positioning and co ...

ATEX Announces Closing of Strategic Investment by Agnico Eagle and Final Settlement of Credit FacilityNovember 01, 2024 5:16 PM EDT | Source: ATEX Resources Inc.Toronto, Ontario--(Newsfile Corp. - November 1, 2024) - ATEX Resources Inc. (TSXV: ATX) ("ATEX" or the "Company") is pleased to announce the closing of the previously announced US$40 million strategic investment by Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico") on a private placement basis ("Offering"), the concurrent set ...

Stock Symbol: AEM (NYSE and TSX)TORONTO, Oct. 25, 2024 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that it has agreed to subscribe for 33,869,939 units ("Units") of ATEX Resources Inc. (TSXV: ATX) ("ATEX") in a non-brokered private placement at a price of C$1.63 per Unit for total consideration of US$40,000,000 (approximately C$55,208,000). Each Unit is comprised of one common share of ATEX (a "Common Share") and one-half of one common share purchase war ...

ATEX Announces US$40 Million Strategic Investment by Agnico EagleSettlement of credit facility with cornerstone investors provides additional financial flexibility for exploration at ValerianoOctober 25, 2024 7:00 AM EDT | Source: ATEX Resources Inc.Toronto, Ontario--(Newsfile Corp. - October 25, 2024) - ATEX Resources Inc. (TSXV: ATX) ("ATEX" or the "Company") is pleased to announce a US$40 million strategic investment in ATEX by Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico") on ...

WOODLAND PARK, N.J., Oct. 17, 2024 /PRNewswire/ -- Anterix (NASDAQ: ATEX) announced today that it will hold a conference call on Thursday, November 14, 2024, at 9:00 a.m. ET.  Anterix senior management, led by recently appointed President and CEO Scott Lang, will discuss the Company's second quarter fiscal 2025 results.  A press release regarding the results will be issued after the close of the market on Wednesday, November 13, 2024.Interested parties can participate in the call by dialing 1-833-816-1120 a ...

Lang brings more than 30 years of experience in strategic leadership, innovation, and operational excellence to AnterixWOODLAND PARK, N.J., Oct. 8, 2024 /PRNewswire/ -- Anterix (NASDAQ: ATEX) today announced the appointment of Scott Lang as President and Chief Executive Officer effective by November 1, 2024. Rob Schwartz will be stepping down after a decade of pioneering leadership and will support Lang and serve as an advisor to the Board to assist in a successful leadership transition.Lang is a highly acc ...

The Zacks Communication - Infrastructure industry appears to be plagued by escalating capital expenditures for infrastructure upgrades, unpredictable raw material prices owing to Middle East tensions, supply-chain disruptions albeit at a decreasing rate and high customer inventory levels. However, the industry should benefit in the long run from an increasing user propensity to stay abreast of the latest digital innovations.Against this backdrop, CommScope Holding Company, Inc. (COMM) and Anterix Inc. (ATEX ...