Anterix Swings to a Loss as License-Exchange Gain Shrinks

The Tip Desk · November 12, 2026 · 2 min read

The spectrum company posted a $4.99 million net loss, or $0.25 a share, after a $6.1 million gain on broadband-license exchanges.

Anterix Inc. (ATEX) swung to a net loss in the three months ended September 30, 2026, as the gain on exchanging narrowband licenses for broadband licenses fell to $6.1 million from $10.7 million in the prior quarter.

The Woodland Park, New Jersey-based provider of private 900 MHz spectrum for utilities reported net loss of $4.99 million, or $0.25 a share, compared with net income of $0.24 million, or $0.01 a share, in the three months ended June 30, 2026. Loss from operations was $5.71 million.

Spectrum revenue was $1.96 million, unchanged from the immediately preceding quarter. Operating expenses were $13.76 million. General and administrative expense was $10.03 million, sales and support $2.25 million, product development $1.18 million, severance and related charges $0.21 million, and depreciation and amortization $0.10 million.

The company exchanged narrowband for broadband licenses in six counties and recorded the $6.1 million gain on those exchanges. It invested $5.4 million in spectrum clearing costs, down from $6.7 million in the prior quarter. Purchases of intangible assets and other related costs were $5.38 million.

Cash and cash equivalents were $107.5 million at September 30, 2026, down from $116.0 million at June 30, 2026. The company had no debt. Restricted cash in escrow deposits was $3.2 million. Net cash used in operating activities was $6.14 million.

Contracted proceeds outstanding remained approximately $33.1 million, with approximately $9.6 million expected to be received during the remainder of fiscal 2027, matching the June 30 disclosure. Spectrum receivable was $16.06 million. Broadband licenses held for sale were $13.61 million. Deferred revenue, including noncurrent amounts, totaled $173.34 million.

Anterix had no share repurchase activity in the quarter. The authorized program for up to $250.0 million of common stock on or before September 22, 2029 remained fully available at $250.0 million. Weighted-average common shares used to compute basic net loss were 19.60 million.

The company said iPhone 18 Pro and iPhone Duo are the first iPhone models to operate on dedicated private LTE networks using Anterix 900 MHz (Band 106) spectrum.

Subsequent to quarter end, on October 29, 2026, the Federal Communications Commission advanced a Notice of Proposed Rulemaking to modify its Supplemental Coverage from Space rules, which includes consideration of adding the 900 MHz band to the list of SCS bands.

Management will hold an analyst and investor conference call at 9:00 a.m. ET on November 11, 2026.