Anterix Inc. ( (ATEX) ) has released its Q1 earnings. Here is a breakdown of the information Anterix Inc. presented to its investors.
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Anterix Inc., a leader in providing 900 MHz broadband solutions for utilities and technology companies, has announced its financial results for the first quarter of fiscal year 2026. The company, known for its extensive licensed spectrum holdings, focuses on modernizing grid solutions across the United States.
In the first quarter of fiscal 2026, Anterix reported a significant turnaround with a net income of $25.2 million, compared to a loss of $15.5 million in the same period last year. The company recorded a gain of $33.9 million from exchanging narrowband for broadband licenses and a $1 million gain from selling broadband licenses. Anterix also highlighted its strong pipeline of prospective contracts worth approximately $3 billion.
Financially, Anterix ended the quarter with $41.4 million in cash and no debt, maintaining a healthy balance sheet. The company has an ongoing share repurchase program, with $227.7 million remaining, although no shares were repurchased in the first quarter. Additionally, Anterix invested $4 million in spectrum clearing costs to support its strategic initiatives.
Looking ahead, Anterix remains focused on advancing its pipeline of contract opportunities and continuing to leverage its unique position in the 900 MHz broadband spectrum market. The company aims to support advanced communications capabilities for a cleaner, safer, and more secure energy future.