Anterix(ATEX) - 2025 Q3 - Quarterly Results

Financial Performance - Anterix reported spectrum revenue of $1.566 million for the three months ended December 31, 2024, a 23.2% increase from $1.271 million in the same period of 2023[15] - The net income for the three months ended December 31, 2024, was $7.710 million, compared to a net income of $328,000 in the same period of 2023[15] - For the three months ended December 31, 2024, the net income was $7.71 million, a significant increase from a net income of $0.33 million in the same period of 2023[17] - The company reported a loss from operations of $21.110 million for the nine months ended December 31, 2024[15] - Anterix's accumulated deficit increased to $399.196 million as of December 31, 2024, from $372.173 million as of March 31, 2024[13] Cash and Assets - The company had cash and cash equivalents of $28.8 million and no debt as of December 31, 2024[4] - The total cash and cash equivalents and restricted cash at the end of the period was $36.43 million, down from $69.55 million at the end of December 2023[18] - Anterix's total assets increased to $326.679 million as of December 31, 2024, compared to $324.894 million as of March 31, 2024[13] Share Repurchase and Expenses - The company executed share repurchase activity of $4.4 million in the fiscal third quarter of 2025, with approximately $229.6 million remaining under the current share repurchase program[5] - The total cost to repurchase shares in the three months ended December 31, 2024, was $4.42 million, with an average price paid per share of $33.59[20] - As of December 31, 2024, there is $229.6 million remaining under the share repurchase program[21] - The company incurred stock compensation expenses of $2.87 million for the three months ended December 31, 2024, compared to $3.92 million in the same period of 2023[17] Cash Flow Activities - The company reported a net cash used in operating activities of $7.70 million for the three months ended December 31, 2024, compared to a net cash provided of $33.64 million in the same period of 2023[17] - The net cash used in investing activities for the three months ended December 31, 2024, was $1.72 million, compared to $4.54 million in the same period of 2023[17] - The cash paid for taxes during the three months ended December 31, 2024, was $0.17 million, compared to no taxes paid in the same period of 2023[18] - The cash paid for operating leases during the three months ended December 31, 2024, was $0.53 million, slightly down from $0.58 million in the same period of 2023[18] Strategic Initiatives - Anterix initiated a strategic review process in February 2025 after receiving inbound interest in the company[9] - The company has a projected operating expenses run rate reduction of approximately 20% planned for fiscal 2026[9] - Anterix has approximately $3 billion in a pipeline of prospective contract opportunities across over 60 potential customers[9] Gains and Losses - The company reported a gain on disposal of intangible assets of $20.75 million for the three months ended December 31, 2024[17]