Anterix Inc.
anterix.comWhat Do They Do?
Sells and leases licensed broadband spectrum and provides connectivity management and tower-access services to utilities and other critical infrastructure companies.
10-K for FY2026, filed Jun 25, 2026Anterix Inc. (“Anterix,” “we,” “our,” or the “Company”) is the nation’s largest holder of licensed 900 MHz spectrum (896-901/935-940 MHz)…View ↗
Our strategy positions our 900 MHz spectrum as the linchpin of an integrated, end-to-end operating model. In the ordinary course of…View ↗
CatalyX is the first AAE commercial service on our integrated platform. CatalyX is a turnkey connectivity management solution that helps…View ↗
TowerXView ↗
How Do They Make Money?
Utilities pay for spectrum through sales or long-term leases. Sale payments are tied to delivery of cleared spectrum and broadband licenses; lease payments are received as the cleared spectrum and leases are delivered, with lease revenue spread over the lease term.
10-K for FY2026, filed Jun 25, 2026Today, acquiring, clearing, selling, leasing and developing products and services offerings around our spectrum are all undertaken in the…View ↗
2.In accordance with ASC 606, the payments of prepaid fees under the spectrum lease agreements will be accounted for as deferred revenue on…View ↗
2.In accordance with ASC 606, the payments of prepaid fees under the spectrum sale agreements will be accounted for as deferred revenue on…View ↗
$6.5M
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10-K for FY2026, filed Jun 25, 2026
$6.5M ↗
Who Are Their Customers?
Utilities and other critical infrastructure companies are the main customers; the company also identifies ports, railroads, water, oil and gas facilities, and mining operations as potential customer groups. The reports do not describe whether customers buy directly or through intermediaries.
10-K for FY2026, filed Jun 25, 2026
Do Revenues Turn Into Profits?
Yes. Its net income in FY2026 was larger than its revenue and turned 84 cents into free cash flow.
10-K for FY2026, filed Jun 25, 2026
$93.9MView ↗
10-K for FY2026, filed Jun 25, 2026
$90.6MView ↗
10-K for FY2026, filed Jun 25, 2026
$5.5MView ↗
How Are They Changing?
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Sep 16, 2026
Anterix authorized a new share repurchase program
The program allows repurchases of up to $250,000,000 of common stock through September 22, 2029.
Sources
8-K, filed Sep 18, 2026
On September 16, 2026, the Board of Directors of Anterix Inc. (the “Company”) authorized a share repurchase program (the “Share Repurchase…View ↗
Growing. Revenue grew 6.0x in 4 years, from $1.1M in FY2022 to $6.5M in FY2026, about 56% a year.
Spectrum sales alongside leases
The latest report describes selling spectrum as an ordinary-course business activity alongside long-term leasing; the older report described long-term leasing as the primary commercial offering.
10-K for FY2023, filed Jun 14, 2023 10-K for FY2026, filed Jun 25, 2026With the Report and Order issued, paving the way for the deployment of broadband in the 900 MHz band, the second key prong of our strategy…View ↗
Today, acquiring, clearing, selling, leasing and developing products and services offerings around our spectrum are all undertaken in the…View ↗
Products and services around spectrum
The latest report presents tower access, connectivity management and other products and services as part of its operating model, while the older report described additional value-added services as opportunities it was exploring.
10-K for FY2023, filed Jun 14, 2023 10-K for FY2026, filed Jun 25, 2026By contrast, we expect that most of our customers will bear the costs of deploying and operating their private broadband networks…View ↗
Who Do They Compete With?
Competes with Verizon, AT&T, and T-Mobile
10-K for FY2026, filed Jun 25, 2026Our competitors include spectrum holders, retail wireless network providers, such as Verizon, AT&T, and T-Mobile, private radio operators…View ↗
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