Anterix(US:ATEX)2025-11-12 22:20Financial Performance - In Q2 FY2026, Anterix reported spectrum revenue of $1.55 million, slightly up from $1.55 million in Q2 FY2025, while total revenue for the six months ended September 30, 2025, was $2.97 million, down from $3.08 million in the same period last year [13]. - The company recorded a net income of $53.54 million for Q2 FY2026, compared to a net loss of $12.77 million in Q2 FY2025, resulting in a net income per share of $2.86 [13]. - For the three months ended September 30, 2025, the net income was $53.536 million, compared to a net loss of $12.766 million in the same period of 2024, representing a significant turnaround [15]. - The company reported net cash provided by operating activities of $1.404 million for the three months ended September 30, 2025, compared to a net cash used of $2.648 million in the same period of 2024 [15]. - The company incurred a loss from the disposal of long-lived assets, netting $21 thousand for the three months ended September 30, 2025 [15]. - The company reported a gain on the exchange of intangible assets of $59.602 million for the three months ended September 30, 2025 [15]. Cash and Assets - As of September 30, 2025, Anterix had cash and cash equivalents of $39.1 million and no debt, with a restricted cash balance of $9.4 million in escrow deposits [4]. - Total cash and cash equivalents and restricted cash at the end of the period was $48.470 million, down from $50.737 million at the end of September 2024 [16]. - Total assets increased to $420.4 million as of September 30, 2025, compared to $333.1 million as of March 31, 2025 [11]. - The company’s total stockholders' equity rose to $240.3 million as of September 30, 2025, up from $156.6 million as of March 31, 2025 [11]. Share Repurchase Program - Anterix has a share repurchase program authorized for up to $250 million, with approximately $226.7 million remaining as of September 30, 2025, and $1 million in share repurchase activity during the second quarter [5]. - The company repurchased 43 shares at an average price of $22.94 per share, totaling $990, with $226.7 million remaining under the share repurchase program as of September 30, 2025 [18][19]. - The total cost to repurchase shares in the six months ended September 30, 2025, was $990 thousand, compared to $2.027 million in the same period of 2024 [18]. Revenue and Contracts - The company has contracted proceeds of $29 million from customers, with $114 million of contracted proceeds outstanding, and expects over $60 million of proceeds to be received by the end of fiscal 2026 [7]. - Anterix launched new solutions, TowerX and CatalyX, targeting an annual total addressable market opportunity of approximately $1 billion [7]. - The company has advanced a pipeline of approximately $3 billion in prospective contract opportunities across over 60 potential customers [7]. - Anterix recorded a $60 million gain on the exchange of broadband licenses and an $11 million gain on the sale of broadband licenses during the quarter [7]. Expenses and Liabilities - Cash paid for operating leases during the three months ended September 30, 2025, was $546 thousand, compared to $606 thousand in the same period of 2024 [16]. - The company reported depreciation and amortization expenses of $133 thousand for the three months ended September 30, 2025, down from $151 thousand in the same period of 2024 [15]. - Deferred revenue increased to $2.202 million for the three months ended September 30, 2025, compared to $5.940 million in the same period of 2024 [15].