Anterix Inc. Reports Third Quarter Fiscal Year 2025 Results

Core Insights - Anterix reported its third quarter fiscal 2025 results, highlighting financial performance and operational updates [1] Financial and Operational Highlights - Spectrum revenue for the three months ended December 31, 2024, was $1.566 million, an increase from $1.271 million in the same period of 2023, representing a 23.2% growth [14] - For the nine months ended December 31, 2024, spectrum revenue reached $4.642 million, up from $2.931 million in 2023, marking a 58.4% increase [14] - Operating expenses for the third quarter were $15.287 million, compared to $14.068 million in the prior year [14] - The company reported a net income of $7.710 million for the third quarter, a significant increase from $328,000 in the same quarter of 2023 [14] Liquidity and Balance Sheet - As of December 31, 2024, Anterix had cash and cash equivalents of $28.8 million and no debt [3] - The company also held a restricted cash balance of $7.6 million in escrow deposits [3] - Total assets amounted to $326.679 million, with total liabilities at $181.934 million, resulting in stockholders' equity of $144.745 million [12] Share Repurchase Program - Anterix has an authorized share repurchase program for up to $250 million, with $229.6 million remaining as of December 31, 2024 [4][19] - In the fiscal third quarter of 2025, the company repurchased shares worth $4.4 million [4] Strategic Initiatives - The company initiated a strategic review process in February 2025 following inbound interest, aiming to explore potential opportunities [8] - Anterix is engaged in an industry initiative to accelerate private wireless broadband opportunities [8] - The company has a projected operating expenses run rate reduction of approximately 20% planned for fiscal 2026 [8] Conference Call Information - Anterix's senior management will hold a conference call on February 12, 2025, to provide a business update [5]