Anterix (ATEX) Q4 2024 earnings summary

Executive summary

• Announced a $102.5 million spectrum agreement with Oncor, the largest deal to date, expanding private wireless broadband to nearly 80% of Texas counties and reinforcing a foundational role in grid modernization.

• Seven utilities in 15 states now deploying 900 MHz private wireless networks, validating industry support and Anterix’s strategic vision.

• Achieved positive cash flow in FY2024, driven by $106.5 million in contracted customer proceeds and significant spectrum transactions.

• Executed new spectrum lease and sale agreements totaling $64.5 million, with $21.9 million received during the year.

• Returned $24.7 million to shareholders via share repurchases in FY2024.

Financial highlights

• Signed two new commercial contracts totaling over $64 million in proceeds during fiscal 2024.

• Received over $106 million in cash from customer contracts and delivered approximately $50 million in positive free cash flow for the year (before buybacks).

• Ended the fiscal year with more than $60 million in cash and no debt.

• Announced and executed a share repurchase program, returning over $24 million to shareholders in fiscal 2024 and $48 million over two years.

• Net loss for FY2024 was $9.1 million, a significant improvement from $35.0 million net loss in FY2023.

Outlook and guidance

• Positioned to continue delivering 900 MHz private broadband solutions as industry demand for robust communication systems grows.

• Pipeline includes 18 utilities at the highest level of demonstrated intent, representing about $1 billion in potential contracted proceeds.

• Ongoing product innovation and ecosystem expansion expected to drive future growth.

• Forward-looking statements highlight risks related to timing of customer payments, spectrum clearing, and license qualification.