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Dec 31, 2023
Anterix Q3 2024 Earnings Report
Announced third quarter fiscal year 2024 results.
Key Takeaways
Anterix reported a net income of $0.328 million and spectrum revenues of $1.271 million for the third quarter of fiscal year 2024. The company executed a new spectrum lease agreement with a Florida utility for $34.5 million and repurchased $8.0 million of ATEX stock.
Cash and cash equivalents totaled $62.0 million as of December 31, 2023.
Executed a new spectrum lease agreement with a Florida utility for a total of $34.5 million, of which $6.9 million was received in December 2023.
Exchanged narrowband for broadband licenses in 10 counties and recorded a gain on exchange of narrowband licenses for broadband licenses of $13.7 million.
Repurchased $8.0 million of ATEX stock.
Revenue by Segment
Forward Guidance
The press release contains forward-looking statements regarding Anterix's business, financial results, and outlook, which are subject to risks and uncertainties.
Challenges Ahead
- The timing of payments under customer agreements.
- Anterix’s ability to clear the 900 MHz Broadband Spectrum on a timely basis and on commercially reasonable terms.
- Anterix’s ability to qualify for and timely secure broadband licenses.
- Actual events or results may differ materially from those contemplated in this press release.
- Anterix undertakes no obligation to update publicly or revise any forward-looking statements contained herein.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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