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Jun 30, 2025
Anterix Q1 2026 Earnings Report
Anterix posted a profitable Q1 2026, driven by gains from license exchanges and sales, while continuing to advance its spectrum initiatives.
Key Takeaways
Anterix delivered strong financial results in Q1 FY2026, reporting net income of $25.2 million primarily due to a $33.9 million gain from license exchanges. Despite modest spectrum revenue, disciplined cost control and operational focus contributed to positive earnings.
Reported $25.2M net income, reversing a $15.5M loss from Q1 FY2025.
Revenue from spectrum sales reached $1.42M in the quarter.
Gained $33.9M from license exchanges and $1.0M from license sales.
No share repurchases during the quarter; $227.7M remains authorized under repurchase plan.
Revenue by Segment
Forward Guidance
Anterix expects continued progress in monetizing its spectrum assets with a $3 billion pipeline and plans for additional license deliveries and broadband conversions.
Positive Outlook
- Strong pipeline of ~$3B in prospective opportunities
- $70M in additional contracted proceeds expected in FY2026
- No outstanding debt enhances flexibility
- Successful execution of license conversions
- Continued leadership in private broadband spectrum for utilities
Challenges Ahead
- Relatively low recurring spectrum revenue in the quarter
- Significant reliance on non-operating gains for profitability
- High deferred revenue and long-term liabilities
- Ongoing need for large capital investments
Historical Earnings Impact
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Avg. Return Before/After Earnings
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