Anterix(US:ATEX)2025-11-12 22:21Financial Performance - Spectrum revenue for the three months ended September 30, 2025, was $1,552,000, slightly up from $1,551,000 in the same period last year[15]. - Net income for the three months ended September 30, 2025, was $53,536,000, a significant recovery from a net loss of $12,766,000 in the same period last year[15]. - Net income for the six months ended September 30, 2025, was $78.716 million, compared to a net loss of $28.290 million for the same period in 2024[24]. - Total spectrum revenue for the six months ended September 30, 2025, was $2.970 million, a decrease of 3.4% from $3.076 million in 2024[33]. - The Company recorded a gain on exchange of intangible assets of $59,602,000 for the three months and $93,518,000 for the six months ended September 30, 2025[52]. - The Company recognized a gain on the sale of intangible assets of $11,469,000 for the three months and $12,430,000 for the six months ended September 30, 2025[54]. Assets and Liabilities - Total assets increased to $420,375,000 as of September 30, 2025, compared to $333,104,000 as of March 31, 2025, reflecting a growth of approximately 26.2%[12][13]. - The company reported an accumulated deficit of $314,217,000 as of September 30, 2025, improved from $391,943,000 as of March 31, 2025[17]. - The total stockholders' equity increased to $240,347,000 as of September 30, 2025, compared to $156,601,000 as of March 31, 2025, reflecting a growth of approximately 53.4%[13]. - The balance of contract liabilities increased to $130.416 million as of September 30, 2025, up from $126.627 million in 2024[37]. - As of September 30, 2025, the Company reported non-current assets of $4,313,000 and current liabilities of $1,430,000 related to operating lease liabilities[64]. Cash Flow and Expenses - Cash and cash equivalents decreased to $39,070,000 as of September 30, 2025, down from $47,374,000 as of March 31, 2025[12]. - Cash and cash equivalents at the end of the period were $48.470 million, down from $50.737 million at the end of September 2024[24]. - The company reported a net cash used in operating activities of $1.736 million for the six months ended September 30, 2025, an improvement from $5.009 million in 2024[24]. - The company incurred stock compensation expenses of $6.579 million for the six months ended September 30, 2025, compared to $7.754 million in 2024[24]. - The total future minimum lease payments under existing non-cancellable leases amount to $5,463,000, with a present value of net future minimum lease payments of $4,730,000[64]. Strategic Initiatives - The company aims to expand the 900 MHz Broadband Segment from 6 MHz to 10 MHz, indicating a strategic growth initiative[9]. - The company is focused on successfully commercializing its spectrum assets to targeted utility and critical infrastructure customers[9]. - Cash and cash equivalents are monitored to ensure sufficient capital for investments, including intangible assets and share repurchase programs[42]. - The Company entered into an agreement to retune and acquire wireless licenses for approximately $28,000,000 in June 2025[47]. Tax and Compliance - The Company recorded a total tax expense of $7.5 million for the three months ended September 30, 2025, compared to $0.2 million for the same period in 2024[65]. - The effective income tax rates for the three months ended September 30, 2025 and 2024 were -25.0% and -26.6%, respectively[66]. - The company expects to maintain an effective system of internal controls, which is crucial for financial reporting and compliance[10]. Market Risks - The primary exposure to market risk is interest income sensitivity, which is not expected to have a material impact from a 10% change in market interest rates due to the short-term nature of investments[120]. - The Company is currently not exposed to market risk from changes in foreign currency as all transactions are denominated in U.S. dollars[121]. - Recent increases in inflation have led to higher operating expenses, which could adversely affect the Company's revenues and commercialization efforts[122]. - Continued periods of high inflation could materially impact the Company's business, operating results, and financial condition if operating costs are not controlled[123]. - The Company continues to monitor market risk exposure, including impacts from health pandemics and the current macroeconomic environment[123]. Shareholder Activities - The 2023 Stock Plan authorizes 1,350,000 shares for grant, with 585,951 shares available for future issuance as of September 30, 2025[68]. - The Company repurchased 43 shares at an average price of $22.94 per share during the three months ended September 30, 2025, totaling $990,000[72]. - As of September 30, 2025, $226.7 million remains under the 2023 Share Repurchase Program[73].