Core Insights - Anterix reported its second quarter fiscal 2026 results, highlighting financial performance and operational updates [1] - The company has a strong liquidity position with no debt and significant cash reserves [3][4] Financial and Operational Highlights - As of September 30, 2025, Anterix had cash and cash equivalents of $39.1 million and restricted cash of $9.4 million [3] - The company has an authorized share repurchase program of up to $250 million, with $226.7 million remaining as of September 30, 2025 [4][20] - In the second quarter, Anterix engaged in share repurchase activity totaling $1 million [4] Revenue and Expenses - Spectrum revenue for the three months ended September 30, 2025, was $1.552 million, slightly up from $1.551 million in the same period of 2024 [13] - Operating expenses decreased to $11.927 million from $14.681 million year-over-year [13] - The company reported a net income of $53.536 million for the three months ended September 30, 2025, compared to a net loss of $12.766 million in the same period of 2024 [14] Strategic Developments - Anterix received $29 million in contracted proceeds from customers, with $114 million of contracted proceeds outstanding [7] - The company launched new solutions, TowerX and CatalyX, targeting a total addressable market of approximately $1 billion [7] - Anterix has a pipeline of approximately $3 billion in prospective contract opportunities across over 60 potential customers [7] Balance Sheet Overview - Total assets as of September 30, 2025, were $420.375 million, up from $333.104 million as of March 31, 2025 [10] - Total liabilities stood at $180.028 million, compared to $176.503 million at the end of the previous fiscal year [11] - Stockholders' equity increased to $240.347 million from $156.601 million [11] Cash Flow Analysis - Net cash provided by operating activities for the three months ended September 30, 2025, was $1.404 million, compared to a net cash used of $2.648 million in the same period of 2024 [16] - The company reported net cash used in investing activities of $604,000 for the three months ended September 30, 2025 [16] - Net cash used in financing activities was $907,000 during the same period [17]