Anterix, Inc. (NASDAQ:ATEX) Q2 2025 Earnings Conference Call November 14, 2024 9:00 AM ET Company Participants Natasha Vecchiarelli - VP, IR & Corporate Communications Scott Lang - President and CEO Tim Gray - CFO Ryan Gerbrandt - COO Chris Guttman- McCabe - Chief Regulatory & Communications Officer Conference Call Participants George Sutton - Craig Hallum Mike Crawford - B. Riley Operator Good morning and welcome to the Anterix Fiscal Year 2025 Second Quarter Earnings Call. All participants will be in list ...

Financial Performance - Spectrum revenue for the three months ended September 30, 2024, was $1,551,000, compared to $1,052,000 for the same period in 2023, representing a 47.4% increase[13] - Net loss for the three months ended September 30, 2024, was $(12,766,000), compared to a net income of $2,073,000 for the same period in 2023[13] - Operating expenses for the three months ended September 30, 2024, were $14,681,000, slightly up from $14,571,000 in the same period last year, an increase of 0.8%[13] - Interest income for the three months ended September 30, 2024, was $585,000, compared to $396,000 for the same period in 2023, an increase of 47.7%[13] - The company experienced a net loss of $12,766,000 for the quarter ending September 30, 2024, compared to a net loss of $28,290,000 for the six months ending September 30, 2023[20] - Basic net loss per common share for the three months ended September 30, 2024, was $(12,766,000), compared to net income of $2,073,000 for the same period in 2023[61] - Net loss for the six months ended September 30, 2024 increased by approximately $28.2 million to $28.3 million from $45 thousand for the same period in 2023[90] Assets and Liabilities - Total current assets decreased from $73,011,000 as of March 31, 2024, to $56,774,000 as of September 30, 2024, a decline of 22.2%[10] - Cash and cash equivalents decreased from $60,578,000 as of March 31, 2024, to $43,129,000 as of September 30, 2024, a decrease of 28.8%[10] - The company reported a contingent liability of $25,000,000 as of September 30, 2024, up from $15,000,000 as of March 31, 2024[10] - Total liabilities increased from $163,862,000 as of March 31, 2024, to $178,174,000 as of September 30, 2024, an increase of 8.7%[10] - The company’s accumulated deficit increased from $(372,173,000) as of March 31, 2024, to $(402,490,000) as of September 30, 2024[10] - Cash and cash equivalents at the end of the period on September 30, 2024, were $50,737,000, a decrease from $68,124,000 at the beginning of the period[21] Stock and Equity - As of September 30, 2024, Anterix Inc. reported a total stockholders' equity of $139,063,000, down from $161,032,000 as of March 31, 2024, reflecting a decrease of approximately 13.6%[15] - The company had a total of 18,618,000 shares outstanding as of September 30, 2024, an increase from 18,453,000 shares as of March 31, 2024[15] - The Company has $234.0 million remaining under the share repurchase program as of September 30, 2024[58] - The average price paid per share for repurchases during the six months ended September 30, 2024, was $32.47, with a total cost of $2,027,000[57] Revenue and Deferred Revenue - Total spectrum revenue for the three months ended September 30, 2024, was $1,551 million, a 47.4% increase from $1,052 million in the same period of 2023[26] - Contract liabilities increased to $126,627 thousand as of September 30, 2024, compared to $80,265 thousand in the same period of 2023, reflecting a significant growth in advanced consideration received[31] - Revenue allocated to remaining performance obligations was $184.3 million as of September 30, 2024, to be recognized over the remaining contract terms up to 30 years[33] - The Company recorded a deferred revenue of $4,415,000 for the six months ending September 30, 2024, down from $19,506,000 for the same period in the previous year[20] - The company recorded $67.1 million in deferred revenue related to prepayments received under the Xcel Energy Agreement as of September 30, 2024[68] Expenses - Anterix Inc. reported stock compensation expenses of $3,408,000 for the quarter ending September 30, 2024, compared to $7,754,000 for the same period in the previous year[20] - Product development expenses rose by $0.6 million, or 55%, to $1.8 million for the three months ended September 30, 2024, primarily due to higher headcount and IT-related costs[87] - Sales and support expenses increased by $0.6 million, or 24%, to $3.2 million for the six months ended September 30, 2024, mainly due to higher headcount costs and fees related to the Oncor Agreement[92] - Product development expenses rose by $1.3 million, or 59%, to $3.5 million for the six months ended September 30, 2024, driven by higher consulting fees, headcount costs, and IT expenses[91] Cash Flow - The company reported a cash flow used in operating activities of $5,009,000 for the six months ending September 30, 2024, compared to a cash flow provided of $2,213,000 for the same period in the previous year[20] - Net cash used in operating activities was approximately $5.0 million for the six months ended September 30, 2024, primarily due to an operating loss and changes in accounts payable[98] - Net cash used in investing activities was $10.9 million for the six months ended September 30, 2024, compared to net cash provided of $14.9 million for the same period in 2023[100] - Net cash used in financing activities was $1.4 million for the six months ended September 30, 2024, down from $11.8 million in the same period in 2023[102] Market and Economic Conditions - The company is closely monitoring macroeconomic conditions, including inflation, which may adversely affect its commercialization efforts and financial condition[70] - Inflationary factors have increased certain operating expenses, potentially harming commercialization efforts and revenues[115] - The company continues to monitor market risk exposure, including impacts from health pandemics and macroeconomic volatility[116]

Anterix Inc. Reports Second Quarter Fiscal Year 2025 Results Woodland Park, NJ – November 13, 2024 – Anterix (NASDAQ: ATEX) today announced its second quarter fiscal 2025 results and filed its Form 10-Q for the three and six months ended September 30, 2024. The Company also issued an update on its Demonstrated Intent metric which can be found on Anterix's website at https://www.investors.anterix.com/Q22025/. "Our results in the second quarter of fiscal 2025 reflect Anterix's strong market positioning and co ...

Anterix, Inc. (NASDAQ:ATEX) Q1 2025 Earnings Conference Call August 7, 2024 9:00 AM ET Company Participants Natasha Vecchiarelli - VP, IR & Corporate Communications Robert Schwartz - President, CEO & Director Thomas Kuhn - Vice Chairman Ryan Gerbrandt - COO Timothy Gray - CFO Chris Guttman- Mccabe - Chief Regulatory & Communications Officer Conference Call Participants Mike Crawford - B. Riley Securities Walter Piecyk - LightShed Partners George Sutton - Craig-Hallum Jerome Darling - JPMorgan Operator Welco ...

Table of Contents Title of each class Trading symbol Name of each exchange on which registered Common Stock, $0.0001 par value ATEX The Nasdaq Stock Market LLC (Nasdaq Capital Market) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 10-Q ______________________ (Mark one) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) ...

Anterix Inc. Reports First Quarter Fiscal Year 2025 Results Woodland Park, NJ – August 6, 2024 – Anterix (NASDAQ: ATEX) today announced its first quarter fiscal 2025 results and filed its Form 10-Q for the three months ended June 30, 2024. The Company also issued an update on its Demonstrated Intent metric which can be found on Anterix's website at www.investors.anterix.com/Q12025. First quarter fiscal 2025 Financial Highlights – Executed a new spectrum sale agreement with Oncor Electric Delivery Company fo ...

Anterix Inc. (NASDAQ:ATEX) Q4 2024 Earnings Conference Call June 27, 2024 9:00 AM ET Company Participants Natasha Vecchiarelli - VP, IR & Corporate Communications Rob Schwartz - President and CEO Ryan Gerbrandt - COO Chris Guttman-McCabe - Chief Regulatory & Communications Officer Tim Gray - CFO Conference Call Participants George Sutton - Craig-Hallum Capital Group LLC Joseph Galone - LightShed Ventures Griffin Boss - B. Riley Securities Operator Good morning, everyone, and welcome to the Anterix Fiscal 2 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________ FORM 10-K ______________________________________________ (Mark one) Title of each class Trading symbol Name of each exchange on which registered Common Stock, $0.0001 par value ATEX The Nasdaq Stock Market LLC (Nasdaq Capital Market) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT ...

Anterix Reports Fourth Quarter and Full Fiscal Year 2024 Results Woodland Park, NJ – June 26, 2024 – Anterix (NASDAQ: ATEX) today announced its fiscal 2024 fourth quarter and full fiscal year financial results and filed its 10-K for the year ended March 31, 2024. The Company also issued an update on its Demonstrated Intent metric which can be found on Anterix's website at www.investors.anterix.com/Q42024. Full Year FY2024 Financial Highlights – Yielded positive cash flows primarily due to $106.5 million rec ...

Financial Data and Key Metrics Changes - Anterix reported a total of $190 million received from contracts out of a total of $270 million, with $80 million remaining to be received [29] - No additional cash receipts are scheduled from contracts for the current fiscal year, with approximately $15 million contracted for FY 2025 and the remainder expected between FY 2026 and FY 2028 [29] Business Line Data and Key Metrics Changes - The company welcomed its sixth utility customer, Tampa Electric, and achieved 3GPP standards approval, which provides a clear path to 5G for 900 megahertz spectrum users [5][9] - The demonstrated intent scorecard showed that four utilities crossed the threshold since the last report, representing approximately $200 million in additional potential contracts, bringing the total to 18 utilities in the highest category, representing about $1.1 billion in potential contract proceeds [7][8] Market Data and Key Metrics Changes - Anterix is actively participating in key industry events such as DISTRIBUTECH, NARUC, and Mobile World Congress to showcase the benefits of 900 megahertz private wireless broadband and engage with stakeholders [10][11][12] - The company is also supporting multiple filings to the US Department of Energy for funding under the bipartisan infrastructure law, aiming to modernize the electric grid and improve grid resilience [13] Company Strategy and Development Direction - Anterix aims to establish 900 megahertz Utility Broadband as the standard for a secure and resilient energy future, focusing on long-term growth and capturing additional opportunities [16] - The company is building industry-wide support for utility private wireless broadband networks and engaging with policymakers to address challenges such as renewable energy integration and cybersecurity [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing movement towards private wireless broadband networks and highlighted the importance of collaboration with utilities and stakeholders [5][16] - The company is focused on advancing contracts and believes its sector-specific strategy positions it well for long-term growth [16] Other Important Information - Tom Kuhn, a notable leader in the electric power industry, was welcomed as Vice Chairman of the Board, bringing extensive experience and policy expertise [14][15] Q&A Session Summary Question: What utilities in the highest level of demonstrating intent are pursuing rate cases involving spectrum and wireless investments? - Management explained that utilities typically build a business case internally before rolling it into a rate case, which varies by state regulations [19][20] Question: Is there traction in helping utilities access supplemental funding from the government? - Management confirmed strong interest in funding opportunities, assisting utilities with applications, and noted that funding can free up capital for private LTE initiatives [23][24][27] Question: What are the expected milestone cash payment timelines? - Management indicated that $190 million has been received from contracts, with no additional cash receipts scheduled for the current fiscal year, and revenue recognition for LCRA and Tego expected within the next 12 months [28][29] Question: Updates on DISTRIBUTECH and buyback expectations? - Management provided insights into the focus areas for DISTRIBUTECH, including security and resiliency, and noted that buyback activity would continue actively within the announced program [31][37]