Anterix Inc. Q3 FY2026 earnings call

• Scott Lang highlighted that the company has undergone a complete refresh, reducing operating expenses and strengthening the balance sheet. They launched the Anterix Accelerator program, introduced new products, and have a senior leadership team in place. The brand refresh at DISTRIBUTECH was mentioned. Evergy has around 4,500 connected devices growing, San Diego Gas & Electric validated the platform, and CPS Energy is a new customer. They appointed Ross Sparrow as Chief Product Officer. The FCC's plan to consider a Report and Order on Feb 18 is significant.
• Elena Marquez discussed reducing operating expense run rate by 20%, highest licenses delivered in a year, the $13M CPS Energy agreement with favorable cash timing, and revised cash proceeds to $120M for the current fiscal year, emphasizing the strong balance sheet and focus on long-term value creation.

Elena Marquez noted that they reduced operating expense run rate by 20%, accelerated delivery of 900 MHz broadband spectrum to customers (resulting in the highest number of licenses delivered in a single year), and have a cash position of approximately $30,000,000 as of December 31 with zero debt. The CPS Energy agreement is a $13,000,000 contract, and they raised projected cash proceeds for the current fiscal year to $120,000,000 from the previously guided $100,000,000. The revenue contribution isn't broken down by product segments specifically, but the focus is on the overall financial strength and progress related to spectrum and agreements.

They raised the projected cash proceeds for the current fiscal year to $120,000,000 from the previously guided $100,000,000.

Q: George Sutton asked about Public Utility Commissioners' views on 900 MHz spectrum relative to network effect and product revenue opportunities.

A: Scott Lang discussed meetings with commissioners, the resonance of the company's message, comparisons to Silver Spring Networks, and how products are naturally connected to their spectrum asset, providing insights into revenue potential.

Q: Mike Crawford inquired about steps if the favorable Report and Order for five-by-five occurs and spectrum concentrations.

A: Scott Lang was cautiously optimistic about the Feb 18 event, stating they'd share details soon, and Chris Guttman-McCabe mentioned flexibility in product offering based on customers' spectrum needs and capital allocation, with plans to discuss five-by-five in detail after the 18th