Anterix (ATEX) AI Stock Analysis

• Market Cap: $435.54M
• Dividend Yield: N/A
• Average Volume (3M): 186.28K
• Price to Earnings (P/E): 4.6
• Beta (1Y): 0.39
• Revenue Growth: 5.67%
• EPS Growth: N/A
• Country: US
• Employees: 86
• Sector: Communication Services
• Sector Strength: 97
• Industry: Telecommunications Services
• EPS (TTM): 2.86
• Shares Outstanding: 18,716,625
• 10 Day Avg. Volume: 187,461
• 30 Day Avg. Volume: 186,284
• PEG Ratio: -2.44
• Price to Book (P/B): 4.34
• Price to Sales (P/S): 112.65
• P/FCF Ratio: -14.32
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: $47.00
• Price Target Upside: 101.98% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 59 Neutral
• Price Target: $24.00 ▲(3.14% Upside)

Overall score reflects a stable balance sheet and constructive technical momentum plus a low P/E, offset by weak profitability and cash flow metrics. Earnings call commentary adds upside potential from spectrum monetization and new initiatives, but uncertainty in licensing timing and clearing costs keep risk elevated.

Positive Factors

Spectrum Asset Value & Monetization

A large unmonetized 900 MHz spectrum position is a durable strategic asset. Systematic monetization through license exchanges or leases can create long-term recurring revenue, optionality for sizable balance-sheet gains, and leverage in utility/private-network market expansion.

Strong Liquidity and Low Leverage

A debt-free balance sheet with cash and substantial contracted proceeds provides durable financial flexibility. It reduces refinancing risk, funds spectrum clearing and product rollouts, and supports multi-quarter execution of monetization plans without immediate need for dilutive financing.

Market Positioning & Product Initiatives

Moving beyond pure spectrum leasing into TowerX/CatalyX addresses persistent industry demand for private LTE/5G in utilities. Productizing deployment and ecosystem services can create higher-margin, recurring revenue and deepen customer relationships, strengthening long-term competitive advantage.

Negative Factors

Negative Operating and Free Cash Flow

Sustained negative operating and free cash flow is a durable constraint on growth: it limits funding for clearing, deployments, and commercialization without relying on proceeds or equity. Persistent cash deficits increase execution risk and could pressure capital allocation over multiple quarters.

Costly Spectrum Clearing Commitments

Significant, ongoing clearing costs materially reduce net proceeds from license exchanges. These capital-intensive obligations depress near-term returns from monetization, introduce timing variability, and require cash outlays that can erode margin sustainability across the spectrum monetization program.

Leadership Reorganization / Execution Risk

A recent senior leadership change during a pivotal monetization and product rollout phase increases execution risk. Loss of an operational leader can disrupt program delivery, slow partner/customer deployments, and create transitional governance challenges that may affect multi-quarter operational execution.

Anterix Business Overview & Revenue Model

Company Description

Anterix Inc. operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks, technologies, and solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico. The company was formerly known as pdvWireless, Inc. and changed its name to Anterix Inc. in August 2019. Anterix Inc. was incorporated in 1997 and is headquartered in Woodland Park, New Jersey.

How the Company Makes Money

Anterix generates revenue primarily through spectrum leasing agreements, which allow clients to utilize its 900 MHz spectrum for their communications needs. This leasing model provides a stable and recurring revenue stream as clients deploy private networks over the licensed spectrum. Additionally, the company may earn revenue through partnerships with technology providers and system integrators who implement their solutions within client operations. Anterix's focus on critical infrastructure sectors presents opportunities for long-term contracts and collaborations, further enhancing its revenue potential. The company also benefits from a growing demand for private network solutions as businesses increasingly seek secure and reliable communications technologies.

Anterix Financial Statement Overview

Summary

Anterix exhibits a mixed financial profile with a strong gross profit margin and stable balance sheet, but faces challenges in profitability and cash flow management. Negative EBIT and EBITDA margins and fluctuating net profit margins indicate operational inefficiencies.

Income Statement

Anterix shows a mixed performance in its income statement. The company has a strong gross profit margin, indicating efficient cost management. However, the net profit margin is volatile, with recent improvements but historical losses. Revenue growth is modest, suggesting limited expansion. EBIT and EBITDA margins are negative, reflecting operational challenges.

Balance Sheet

The balance sheet is relatively stable with a low debt-to-equity ratio, indicating conservative leverage. Return on equity has improved but remains low, suggesting limited profitability. The equity ratio is healthy, showing a strong capital base. Overall, the balance sheet reflects financial stability but with room for improved returns.

Cash Flow

Cash flow analysis reveals challenges, with negative operating and free cash flows indicating cash management issues. The free cash flow to net income ratio is positive, suggesting some efficiency in converting income to cash. However, the negative growth in free cash flow highlights ongoing cash flow struggles.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.92M	6.03M	4.19M	1.92M	1.08M	921.00K
Gross Profit	5.92M	6.03M	4.19M	1.92M	1.08M	-685.00K
EBITDA	28.96M	-48.48M	-51.62M	-53.43M	-46.50M	-47.27M
Net Income	95.63M	-11.37M	-9.13M	-16.32M	-37.52M	-54.43M
Balance Sheet
Total Assets	420.38M	333.10M	324.89M	278.56M	287.98M	253.06M
Cash, Cash Equivalents and Short-Term Investments	39.07M	47.37M	60.58M	43.18M	105.62M	117.54M
Total Debt	4.73M	5.39M	8.21M	4.65M	5.69M	7.07M
Total Liabilities	180.03M	176.50M	163.86M	98.77M	101.68M	40.55M
Stockholders Equity	240.35M	156.60M	161.03M	179.79M	186.30M	212.51M
Cash Flow
Free Cash Flow	-30.04M	-47.45M	24.66M	-54.38M	-9.50M	-24.13M
Operating Cash Flow	-25.99M	-29.26M	41.99M	-27.25M	17.91M	-9.96M
Investing Cash Flow	30.43M	22.75M	8.09M	-27.13M	-27.41M	-14.17M
Financing Cash Flow	-6.71M	-6.59M	-25.14M	-8.06M	-2.42M	4.22M

Anterix Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 23.27
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ATEX, the sentiment is Positive. The current price of 23.27 is above the 20-day moving average (MA) of 22.16, above the 50-day MA of 21.02, and below the 200-day MA of 24.16, indicating a neutral trend. The MACD of 0.49 indicates Negative momentum. The RSI at 62.99 is Neutral, neither overbought nor oversold. The STOCH value of 85.80 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ATEX.

Anterix Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ATNI	63 Neutral	$336.73M	-22.76	-1.70%	4.63%	-3.10%	66.00%
OOMA	62 Neutral	$320.71M	152.26	2.59%	―	4.22%	―
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
ATEX	59 Neutral	$435.54M	4.57	50.41%	―	5.67%	―
SHEN	50 Neutral	$645.60M	-16.16	-4.41%	0.97%	11.59%	-106.83%
RBBN	50 Neutral	$496.24M	-11.80	-11.40%	―	7.38%	20.81%

Anterix Corporate Events

Anterix Eliminates COO Role Amid Leadership Reorganization

On January 7, 2026, Anterix Inc. announced that Chief Operating Officer Ryan Gerbrandt will leave the company effective January 9, 2026, as part of an internal reorganization that eliminates the COO role. Subject to his signing a release of claims in favor of the company, Gerbrandt will receive severance benefits applicable to a Legacy Tier 1 Executive under Anterix’s Executive Severance Plan, signaling a notable shift in the firm’s senior leadership structure and cost framework.

The most recent analyst rating on (ATEX) stock is a Hold with a $21.50 price target. To see the full list of analyst forecasts on Anterix stock, see the ATEX Stock Forecast page.

Anterix Reports Strong Q2 Fiscal 2026 Results

On November 12, 2025, Anterix announced its second quarter fiscal 2026 results, highlighting significant financial and operational achievements. The company reported receiving $29 million in contracted proceeds, with $114 million outstanding, and accelerated $19 million into fiscal 2026. Anterix launched TowerXTM and CatalyX®, solutions targeting a $1 billion market opportunity, and exchanged narrowband for broadband licenses in 99 counties, recording a $60 million gain. Additionally, Anterix delivered broadband licenses covering 26 counties, resulting in an $11 million gain, and invested $13 million in spectrum clearing costs. The company continues to advance a $3 billion pipeline of prospective contracts with over 60 potential customers, maintaining a strong liquidity position with $39.1 million in cash and no debt as of September 30, 2025.

The most recent analyst rating on (ATEX) stock is a Hold with a $21.50 price target. To see the full list of analyst forecasts on Anterix stock, see the ATEX Stock Forecast page.