Anterix(US:ATEX)2026-02-11 21:46Financial Performance - Net loss for the nine months ended December 31, 2025, was $6,601 thousand, compared to a net income of $72,115 thousand for the same period in 2024, reflecting a significant decline[15]. - The company reported a net loss of $6,601,000 for the three months ended December 31, 2025, compared to a net income of $7,710,000 for the same period in 2024[46]. - Net income for the nine months ended December 31, 2025, increased by approximately $92.7 million to $72.1 million from a net loss of $20.6 million for the same period in 2024[107]. - Net cash used in operating activities was approximately $10.0 million for the nine months ended December 31, 2025, compared to $12.7 million in 2024[110]. - Net cash used in investing activities was $5.6 million for the nine months ended December 31, 2025, compared to $12.7 million in 2024, primarily due to $19.8 million payments for wireless licenses, offset by $14.2 million from spectrum sales[115]. - Net cash used in financing activities decreased to $1.6 million in 2025 from $6.3 million in 2024, mainly for common stock repurchases of $1.0 million and withholding tax payments of $0.7 million[117]. Revenue and Expenses - Spectrum revenue for the three months ended December 31, 2025, was $1,573 thousand, slightly up from $1,566 thousand in the same period of 2024, indicating a 0.4% increase[15]. - For the nine months ended December 31, 2025, total spectrum revenue was $4,543,000, a decrease of 2.1% compared to $4,642,000 in the same period of 2024[38]. - Operating expenses decreased to $11,768 thousand for the three months ended December 31, 2025, down from $15,287 thousand in the same period of 2024, a reduction of 23.5%[15]. - Adjusted general and administrative expenses for the nine months ended December 31, 2025, were $19,656,000, down from $24,254,000 in the same period of 2024, a decrease of 18.5%[46]. - General and administrative expenses decreased by $0.5 million, or -6%, to $8.7 million for the three months ended December 31, 2025, compared to $9.2 million in 2024[105]. Assets and Liabilities - Total assets increased to $417,003 thousand as of December 31, 2025, up from $333,104 thousand on March 31, 2025, representing a growth of 25.2%[13]. - Total liabilities increased to $181,052 thousand as of December 31, 2025, compared to $176,503 thousand on March 31, 2025, an increase of 2.8%[13]. - The accumulated deficit improved to $(320,818) thousand as of December 31, 2025, from $(391,943) thousand on March 31, 2025, indicating a reduction of 18.2%[13]. - Cash and cash equivalents decreased to $29,534 thousand as of December 31, 2025, from $47,374 thousand on March 31, 2025, a decline of 37.6%[13]. - As of December 31, 2025, the total cash and cash equivalents were $29,534,000, down from $47,374,000 as of March 31, 2025, indicating a decrease of 37.6%[25]. Stock and Share Repurchase - The 2023 Share Repurchase Program allows the Company to repurchase up to $250 million of common stock by September 21, 2026, with $226.7 million remaining as of December 31, 2025[73][76]. - A total of 160,076 shares were issued during the nine months ended December 31, 2025, and 405,204 shares during the year ended March 31, 2025, under the 2023 Stock Plan[72]. - The company authorized a new 2023 Share Repurchase Program allowing for the repurchase of up to $250.0 million of common stock by September 21, 2026[146]. - As of December 31, 2025, the maximum dollar value of shares that may yet be purchased under publicly announced plans is $226,672[142]. - No shares were purchased in the open market or through privately negotiated transactions during the reporting period from October 1, 2025, to December 31, 2025[142]. Contracts and Agreements - The company launched a new turnkey tower service, TowerX, in collaboration with Crown Castle to assist utilities in accelerating buildout timelines[29]. - The relaunch of CatalyX, a turnkey SIM provisioning and connectivity management solution, aims to enhance efficiency for utilities[30]. - The Company entered into an agreement to retune and acquire wireless licenses for approximately $28.0 million in June 2025[50]. - The Company entered into a spectrum license sale agreement with CPS Energy for a total payment of $13 million on January 30, 2026[96][100]. - The company has a maximum potential liability of approximately $66.9 million under the Xcel Energy Agreement, with $74.7 million recorded in deferred revenue as of December 31, 2025[121]. Tax and Regulatory Matters - The Company recorded a total tax benefit of $2.1 million and total tax expense of $3.2 million for the nine months ended December 31, 2025[68]. - The effective income tax rates for the three months ended December 31, 2025, and 2024 were -24.4% and -25.1%, respectively, reflecting a decrease due to a lower state effective tax rate[69]. - Federal government shutdowns could adversely impact the company's ability to obtain broadband licenses from the FCC, affecting its commercialization efforts for 900 MHz spectrum assets[138]. Miscellaneous - The financial information for the quarter ended December 31, 2025, includes consolidated balance sheets and statements of operations[147]. - The report was signed by the President and Chief Executive Officer, Scott A. Lang, and the Chief Financial Officer, Elena Marquez, on February 11, 2026[151].