CONX Corp.
conxcorp.comWhat Do They Do?
Licenses spectrum-sharing technology and provides database and connectivity services to wireless operators and businesses, and leases commercial property to DISH Wireless.
10-K for FY2024, filed Nov 28, 2025Citizens Broadband Radio Service: We generate revenue from licensing our Spectrum Access System (“SAS”) platform to businesses operating in…View ↗
Television White Space: We provide products and services in the TVWS markets through our operation of databases in multiple countries…View ↗
Our Infrastructure & Real Estate line of business includes the operation of our commercial real estate property (the “Property”) in…View ↗
How Do They Make Money?
The property tenant pays monthly rent and monthly operating-cost payments under a long-term lease. Technology revenue can come from spectrum licenses, cloud database subscriptions, and service contracts.
10-K for FY2024, filed Nov 28, 2025In connection with the consummation of our acquisition of the Property from the Seller on May 1, 2024, we and Seller entered into a lease…View ↗
Citizens Broadband Radio Service: We generate revenue from licensing our Spectrum Access System (“SAS”) platform to businesses operating in…View ↗
Television White Space: We provide products and services in the TVWS markets through our operation of databases in multiple countries…View ↗
Future revenues may arise from licensing arrangements, collaboration agreements, or service contracts. The Company recognizes revenue in…View ↗
$2M
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10-K for FY2024, filed Nov 28, 2025
$2M ↗
Who Are Their Customers?
EchoStar Real Estate Holding leases the property; technology offerings serve mobile operators, enterprises and wireless internet providers.
10-K for FY2024, filed Nov 28, 2025On May 1, 2024, we completed our purchase from EchoStar Real Estate Holding L.L.C. (“Seller”), a subsidiary of EchoStar, of the commercial…View ↗
Citizens Broadband Radio Service: We generate revenue from licensing our Spectrum Access System (“SAS”) platform to businesses operating in…View ↗
Television White Space: We provide products and services in the TVWS markets through our operation of databases in multiple countries…View ↗
In connection with the consummation of our acquisition of the Property from the Seller on May 1, 2024, we and Seller entered into a lease…View ↗
Do Revenues Turn Into Profits?
Yes. Its net income in FY2024 was larger than its revenue, but spent more cash than it brought in: free cash flow was −$31.7M.
10-K for FY2024, filed Nov 28, 2025
−$3.8MView ↗
10-K for FY2024, filed Nov 28, 2025
$2.7MView ↗
10-K for FY2024, filed Nov 28, 2025
−$31.7MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q3 FY2025, filed Apr 13, 2026
$58.3MView ↗
- ▲ Now profitable
- vs −$3.4M in Q3 FY2024
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Sep 4, 2026
Completed merger involving HC2 Broadcasting Holdings
The surviving entity is managed by a three-member board, with CONX Broadcast entitled to appoint two members.
Sources
8-K, filed Sep 4, 2026
On September 2, 2026, following the consummation of the Merger, HC2 was converted into a Delaware limited liability company (the…View ↗
From acquisition search to operating businesses
The older report described CONX as a blank-check company seeking a technology, media and telecommunications target; the latest describes an operating company with spectrum-sharing services and commercial real estate.
10-K for FY2021, filed Mar 16, 2022 10-K for FY2024, filed Nov 28, 2025We are a blank check company incorporated in the State of Nevada on August 26, 2020, whose business purpose is to effect a merger, capital…View ↗
We were incorporated in the State of Nevada as a blank check company on August 26, 2020. Today, we are a diversified operating company…View ↗
Technology & Telecommunications: This line of business includes our spectrum-sharing technologies and services business, which we operate…View ↗
Infrastructure & Real Estate: This line of business includes the operation of our commercial real estate property in Littleton, Colorado…View ↗
Who Do They Compete With?
Competes with Federated Wireless, Google, and Sony Group
10-K for FY2024, filed Nov 28, 2025Technology & Telecommunications: Wireless communication services is a mature market with moderate year over year organic growth and our…View ↗
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