Anterix Inc. reported its financial results for the third quarter of fiscal 2025, revealing a net loss of $6.6 million, a significant decline from a net income of $7.7 million in the same period last year. The company's spectrum revenue remained relatively stable, totaling $1.57 million for the quarter, compared to $1.57 million in the prior year. For the nine months ending December 31, 2025, Anterix recorded a net income of $72.1 million, a substantial improvement from a net loss of $20.6 million during the same period in 2024. This increase was primarily driven by a notable gain on the exchange of intangible assets, which amounted to $94.3 million, compared to $20.8 million in the previous year.
Operating expenses for the third quarter decreased to $11.77 million from $15.29 million year-over-year, reflecting a reduction in general and administrative costs and severance-related charges. The company reported a decrease in severance and related charges by 87% to $0.5 million, down from $3.5 million in the prior year, which was attributed to costs associated with the transition of the former CEO. Additionally, the gain on the exchange of intangible assets decreased significantly, contributing to the overall net loss for the quarter.
In terms of strategic developments, Anterix announced the launch of its TowerX service in partnership with Crown Castle, aimed at facilitating utility infrastructure buildouts. The company also relaunched its CatalyX service, which provides SIM provisioning and connectivity management solutions for utilities. These initiatives are part of Anterix's broader strategy to enhance its offerings to utility and critical infrastructure customers, thereby expanding its market presence.
As of December 31, 2025, Anterix's total assets increased to $417 million, up from $333 million at the end of the previous fiscal year. The company reported cash and cash equivalents of $29.5 million, a decrease from $47.4 million at the end of March 2025. The total liabilities also rose slightly to $181 million, compared to $176.5 million previously. The company’s stockholders' equity increased to $236 million, reflecting a positive shift in its financial position.
Looking ahead, Anterix remains focused on commercializing its spectrum assets and expanding its service offerings. The company anticipates that its cash and cash equivalents, along with contracted proceeds from customer contracts, will be sufficient to meet its financial obligations for at least the next 12 months. However, Anterix acknowledges the potential need for additional capital to support its business plans and initiatives, particularly in light of ongoing market conditions and regulatory changes.
About Anterix Inc.
Anterix Inc. holds the largest licensed 900 MHz spectrum portfolio in the U.S., focusing on enabling private wireless broadband networks for utilities and critical infrastructure. The company leases and sells broadband spectrum licenses, supporting grid modernization, security, and operational control for electric utilities and related sectors. Its business model centers on converting narrowband spectrum to broadband, facilitating private LTE networks, and providing long-term spectrum access to regulated utility customers nationwide.
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