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Anterix Inc.
NASDAQ: ATEX Communication Services Telecom 🔎 Screen
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$1.8B
Market Cap
P/E
PEG
62.9%
ROCE
43.3%
ROE
0.01
D/E
1,444.9%
OPM
-14.6%
% from 52W High
97
α RS
🔍 ATEX is showing a high-conviction setup because it matches 17 of 37 tracked screener presets, Sector RRG has Communication Services in the Improving quadrant with the trail still strengthening, and RS Rating is 97 (top decile vs market). Net: Broad signal stack, not a recommendation. ? Conviction RRG RS Rating
Sources
Conviction 17/37 · Communication Services in Improving quadrant · RS Rating 97
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Currency-adjusted total returns for ATEX including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Anterix Inc. operates as holder of licensed 900 MHz spectrum with coverage spanning the contiguous to utility and critical infrastructure enterprise customers in the United States, Hawaii, Alaska, and Puerto Rico.

Key Ratios Snapshot
📈 Growth Pattern
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3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
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📊 MIXED Anterix: 8 flagship customers, $400M contract value; expects first positive GAAP net income.
Revenue & Profitability
As of December 31, 2025, Anterix had approximately $30 million in cash and zero debt, with over $80 million to be collected in the fourth quarter. The company raised its projected cash proceeds for the current fiscal year to $120 million, from the previously guided $100 million. The CPS Energy agreement is a $13 million contract with favorable cash timing. Management expects the first year ever of positive GAAP net income.
Outlook
Management sees strong industry demand driven by grid modernization and the need for connectivity to support critical infrastructure. Regulatory alignment is advancing, with the FCC considering a Report and Order on February 18 to enable broadband deployment across the full 10 MHz of the 900 MHz band. Public utility commissioners recognize the importance of private wireless for grid security and customer responsiveness.
Growth Drivers
Key growth levers include expanding spectrum monetization, new product offerings (tower access and SIM management) that create recurring revenue streams, and active negotiations with a wide range of utilities from smaller to the largest in the country. The Anterix Accelerator Program is also driving customer commitments.
Balance Sheet & CapEx
Not discussed in this earnings call.
Margins
The company has reduced its operating expense run rate by 20% and maintains a lean OpEx structure with disciplined spend. New products are described as 'immediately profitable' with 'nice red margins' and are expected to contribute strong margins, though specific margin percentages were not disclosed.
Key Risks
Risks flagged include the dependency on regulatory decisions (FCC order for full 10 MHz), the scale and complexity of large utility negotiations which lengthen decision cycles, and market-specific spectrum clearing and unjust enrichment payments that affect pricing.
Generated by AI · Q3 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q1 2027 Q1 2027 2026-08-12
Revenue rose to $2M with disciplined expenses and $11M in broadband license gains. Nearly a dozen active deals are in the pipeline, and 85% of MHz-POPs remain to be monetized, with strong market demand and significant upside versus current valuation.
Q4 2026 Q4 2026 2026-06-11
Utility and non-utility demand for licensed spectrum is accelerating, driving strong financial results, positive cash flow, and new product adoption. The company is well-positioned with a strong balance sheet, expanding ecosystem, and growing recurring revenue opportunities.
Q3 2026 Q3 2026 2026-02-12
Operating expenses were reduced by 20% year-over-year, and projected cash proceeds for the fiscal year were raised to $120 million. The company secured $400 million in contract value from 8 flagship utility customers and is positioned for its first year of positive GAAP net income.
Q2 2026 Q2 2026 2025-11-13
Q2 FY2026 saw strong cash flow, no debt, and $71M in gains from spectrum transactions. New solutions TowerX and CatalyX target a $1B market, while 85% of spectrum is yet to be monetized, valued up to $4B. Utilities' demand and industry partnerships drive future growth.
Q1 2026 Q1 2026 2025-08-13
Accelerator Program is oversubscribed, validating strong demand for 900 MHz private LTE, with $500M+ in potential contracts and seven utilities deploying at scale. Ended Q1 debt-free with $41M cash, $35M in gains, and $140M in contracted proceeds outstanding.
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📊 Analysis Methodology

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Information Sources:
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