Anterix Inc. reported a net loss of $11.4 million for the fiscal year ending March 31, 2025, an increase of approximately 25% from the previous year's loss of $9.1 million. The company's revenue from spectrum sales rose to $6.0 million, a 44% increase from $4.2 million in fiscal 2024, primarily driven by agreements with Xcel Energy and Evergy. Operating expenses totaled $58.8 million, reflecting a slight increase from $56.7 million in the prior year, with notable increases in severance costs related to executive transitions and higher sales and support expenses.
In terms of strategic developments, Anterix appointed Scott Lang as President and CEO in October 2024, succeeding Robert Schwartz, and Thomas Kuhn was appointed Executive Chairman of the Board in January 2025. The company executed significant spectrum sale agreements, including a $102.5 million deal with Oncor Electric Delivery Company and a $13.5 million agreement with the Lower Colorado River Authority. Additionally, Anterix recorded gains from the exchange of narrowband licenses for broadband licenses, totaling $22.8 million, and a gain of $18.3 million from the sale of intangible assets.
Operationally, Anterix has made strides in expanding its customer base, with broadband licenses granted for 194 counties as of March 31, 2025. The company has also engaged in a strategic review process to explore potential partnerships and transactions, reflecting interest from various stakeholders. The AnterixAccelerator initiative was launched to enhance industry engagement and accelerate the adoption of private wireless broadband networks among utilities.
Looking ahead, Anterix anticipates continued growth in spectrum revenue as it works to fulfill its contractual obligations and deliver broadband licenses to customers. The company holds $47.4 million in cash and cash equivalents, which it believes will be sufficient to meet its financial obligations for at least the next 12 months. However, the company acknowledges the risks associated with its business model, including the challenges of commercializing spectrum assets and the potential impact of macroeconomic conditions on its operations and customer demand.
About Anterix Inc.
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