$ATEX
Anterix Inc.

2019 Q3 Form 10-Q Financial Statement

#000130449219000045 Filed on August 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q2
Revenue $423.0K $453.0K $1.872M
YoY Change -76.81% -75.8% 27.78%
Cost Of Revenue $699.0K $918.0K $2.146M
YoY Change -38.63% -57.22% 26.24%
Gross Profit -$276.0K -$1.036M -$274.0K
YoY Change -1161.54% 278.1% 16.6%
Gross Profit Margin -65.25% -228.7% -14.64%
Selling, General & Admin $5.316M $6.062M $7.199M
YoY Change 5216.0% -15.79% 9.57%
% of Gross Profit
Research & Development $555.0K $680.0K $637.0K
YoY Change -2.29% 6.75% 15.82%
% of Gross Profit
Depreciation & Amortization $600.0K $642.0K $728.0K
YoY Change -14.29% -11.81% 12.0%
% of Gross Profit
Operating Expenses $5.871M $8.500M $12.35M
YoY Change -51.77% -31.15% 73.38%
Operating Profit -$8.306M -$9.536M -$12.62M
YoY Change -31.63% -24.43% 71.57%
Interest Expense $650.0K $350.0K $320.0K
YoY Change 75.68% 9.38% 190.91%
% of Operating Profit
Other Income/Expense, Net $113.0K $100.0K $1.000K
YoY Change -11400.0% 9900.0% -105.0%
Pretax Income -$7.544M -$9.082M -$12.30M
YoY Change -35.95% -26.17% 69.45%
Income Tax $171.0K $292.0K $0.00
% Of Pretax Income
Net Earnings -$7.715M -$9.374M -$12.30M
YoY Change -34.5% -23.8% 55.52%
Net Earnings / Revenue -1823.88% -2069.32% -657.16%
Basic Earnings Per Share
Diluted Earnings Per Share -$464.2K -$634.8K -$849.4K
COMMON SHARES
Basic Shares Outstanding 17.08M 14.76M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $157.5M $69.00M $90.90M
YoY Change 84.0% -24.09% -21.3%
Cash & Equivalents $157.5M $69.02M $90.94M
Short-Term Investments
Other Short-Term Assets $700.0K $1.200M $1.300M
YoY Change -36.36% -7.69% 160.0%
Inventory $0.00
Prepaid Expenses
Receivables $136.0K $300.0K $900.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $158.3M $70.50M $93.10M
YoY Change 80.43% -24.27% -20.43%
LONG-TERM ASSETS
Property, Plant & Equipment $8.649M $9.309M $11.70M
YoY Change -21.39% -20.44% -20.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $29.00K
YoY Change
Other Assets $800.0K $819.0K $781.0K
YoY Change -3.38% 4.87% 56.2%
Total Long-Term Assets $124.6M $125.4M $119.4M
YoY Change 4.23% 5.03% -1.97%
TOTAL ASSETS
Total Short-Term Assets $158.3M $70.50M $93.10M
Total Long-Term Assets $124.6M $125.4M $119.4M
Total Assets $282.9M $195.9M $212.5M
YoY Change 36.48% -7.81% -11.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.600M $3.500M $0.00
YoY Change
Accrued Expenses $1.700M $1.600M
YoY Change
Deferred Revenue $763.0K
YoY Change -5.1%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.000M $8.288M $5.000M
YoY Change 28.56% 65.76% 31.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.30M $598.0K $6.700M
YoY Change 195.27% -91.07% 3.08%
Total Long-Term Liabilities $11.30M $598.0K $6.700M
YoY Change 195.27% -91.07% 3.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.000M $8.288M $5.000M
Total Long-Term Liabilities $11.30M $598.0K $6.700M
Total Liabilities $20.40M $21.39M $11.80M
YoY Change 46.66% 81.25% -32.57%
SHAREHOLDERS EQUITY
Retained Earnings -$177.7M -$126.5M
YoY Change 40.47%
Common Stock $2.000K
YoY Change 100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $262.5M $174.5M $200.7M
YoY Change
Total Liabilities & Shareholders Equity $282.9M $195.9M $212.5M
YoY Change 36.48% -7.8% -11.01%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$7.715M -$9.374M -$12.30M
YoY Change -34.5% -23.8% 55.52%
Depreciation, Depletion And Amortization $600.0K $642.0K $728.0K
YoY Change -14.29% -11.81% 12.0%
Cash From Operating Activities -$5.510M -$9.030M -$7.119M
YoY Change 8.25% 26.84% 11.76%
INVESTING ACTIVITIES
Capital Expenditures -$250.0K $247.0K $155.0K
YoY Change -74.75% 59.35% -106.65%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$250.0K -$247.0K -$155.0K
YoY Change -74.75% 59.35% -93.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $94.20M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 94.24M 1.577M -108.0K
YoY Change 11680.0% -1560.19% -167.5%
NET CHANGE
Cash From Operating Activities -5.510M -9.030M -7.119M
Cash From Investing Activities -250.0K -247.0K -155.0K
Cash From Financing Activities 94.24M 1.577M -108.0K
Net Change In Cash 88.48M -7.700M -7.382M
YoY Change -1775.76% 4.31% -13.56%
FREE CASH FLOW
Cash From Operating Activities -$5.510M -$9.030M -$7.119M
Capital Expenditures -$250.0K $247.0K $155.0K
Free Cash Flow -$5.260M -$9.277M -$7.274M
YoY Change 28.29% 27.54% 80.05%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2019Q2 atex Number Of Metropolitan Market Areas
NumberOfMetropolitanMarketAreas
20
CY2019Q2 atex Operating Lease Liabilities Reduction
OperatingLeaseLiabilitiesReduction
324000
CY2019Q2 atex Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
347000
CY2019Q2 atex Percentage Of Mhz Band Owned
PercentageOfMhzBandOwned
0.60
CY2019Q1 atex Property Plant And Equipment Net Before Construction Work In Progress
PropertyPlantAndEquipmentNetBeforeConstructionWorkInProgress
9547000
CY2019Q2 atex Property Plant And Equipment Net Before Construction Work In Progress
PropertyPlantAndEquipmentNetBeforeConstructionWorkInProgress
9225000
CY2019Q2 atex Restructuring Reserves Current
RestructuringReservesCurrent
1895000
CY2019Q2 atex Service Transition Period
ServiceTransitionPeriod
P2Y
CY2019Q2 atex Subsidiary Equity Units For Which Investor Has Right To Convert To Common Stock
SubsidiaryEquityUnitsForWhichInvestorHasRightToConvertToCommonStock
500000
CY2019Q2 dei Amendment Flag
AmendmentFlag
false
CY2019Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
CY2019Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2019Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
CY2019Q2 dei Document Period End Date
DocumentPeriodEndDate
2019-06-30
CY2019Q2 dei Document Type
DocumentType
10-Q
CY2019Q2 dei Entity Central Index Key
EntityCentralIndexKey
0001304492
CY2019Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
17075836
CY2019Q2 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2019Q2 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2019Q2 dei Entity Ex Transition Period
EntityExTransitionPeriod
true
CY2019Q2 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2019Q2 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2019Q2 dei Entity Registrant Name
EntityRegistrantName
Anterix Inc.
CY2019Q2 dei Entity Shell Company
EntityShellCompany
false
CY2019Q2 dei Entity Small Business
EntitySmallBusiness
true
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1577000
CY2018Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
728000
CY2019Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
292000
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
642000
CY2019Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
444000
CY2019Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7952000
CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7821000
CY2018Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
112000
CY2019Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
142000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3820000
CY2019Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
77000
CY2019Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
155000
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1421000
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1395000
CY2019Q2 us-gaap Business Exit Costs1
BusinessExitCosts1
32000
CY2019Q2 us-gaap Capitalized Contract Cost Amortization Period
CapitalizedContractCostAmortizationPeriod
P10Y
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
76722000
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
98318000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
90936000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76722000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69022000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7382000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7700000
CY2019Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2019Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
14739145
CY2019Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
14840113
CY2019Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
14739145
CY2019Q1 us-gaap Assets Current
AssetsCurrent
78346000
CY2019Q2 us-gaap Lease Cost
LeaseCost
642000
CY2018Q2 us-gaap Revenues
Revenues
1872000
CY2019Q2 us-gaap Revenues
Revenues
453000
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.85
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.63
CY2019Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
283000
CY2019Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
84000
CY2019Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4200000
CY2019Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4000000
CY2019Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
200000
CY2018Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2146000
CY2019Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1489000
CY2018Q1 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
768000
CY2019Q2 us-gaap Deferred Rent Credit
DeferredRentCredit
2300000
CY2018Q2 us-gaap Depreciation
Depreciation
700000
CY2019Q2 us-gaap Depreciation
Depreciation
600000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2019Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
181000
CY2019Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
184000
CY2019Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-1000
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5568000
CY2019Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6490000
CY2018Q2 us-gaap Gross Profit
GrossProfit
-274000
CY2019Q2 us-gaap Gross Profit
GrossProfit
-1036000
CY2018Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
534000
CY2019Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-12302000
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-9082000
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-9900000
CY2019Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1000
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
292000
CY2019Q2 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
292000
CY2019Q1 us-gaap Liabilities
Liabilities
15989000
CY2019Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
819000
CY2019Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
195932000
CY2019Q2 us-gaap Liabilities Current
LiabilitiesCurrent
8288000
CY2019Q2 us-gaap Liabilities
Liabilities
21388000
CY2019Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
196753000
CY2019Q1 us-gaap Liabilities Current
LiabilitiesCurrent
8839000
CY2019Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
598000
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
845000
CY2019Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2999000
CY2018Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1027000
CY2019Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1372000
CY2018Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
60000
CY2019Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-182000
CY2018Q2 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-206000
CY2019Q2 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-199000
CY2018Q2 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-177000
CY2019Q2 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-73000
CY2018Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-170000
CY2018Q2 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
141000
CY2019Q2 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-6000
CY2018Q2 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
10000
CY2019Q2 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7000
CY2019Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
107548000
CY2019Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
107548000
CY2018Q2 us-gaap Interest Income Other
InterestIncomeOther
316000
CY2019Q2 us-gaap Interest Income Other
InterestIncomeOther
354000
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
637000
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7100000
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7568000
CY2018Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
700000
CY2019Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
600000
CY2018Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
155000
CY2019Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
247000
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
14030000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
3054000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1893000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2098000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2265000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2670000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2050000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4161000
CY2019Q2 us-gaap Nature Of Operations
NatureOfOperations
<div> <div style="margin-left:0pt;margin-right:0pt;"> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:24pt;"><p style="width:24pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;"> <font style="margin:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;;"> 1.</font> </p> </td><td style="width:4pt;"><p style="width:4pt;width:4pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;"> <a name="_a9c53310c4104d5fb3e9fe328de5f60a"></a><a name="_413f5db6bc2b419ab22fc8447cb8a2db"></a><a name="_ac1bb0905a944ef7bb6111be9987a80c"></a><a name="_799d07128b2b44cc893948a155f2237a"></a><a name="_05786ee9e8b547ac890bfc8fe7990c30"></a><a name="_22ea2505da4847d8801755c0b81e10bb"></a><a name="_0926cbba5deb4c57b7ce182a6f15927e"></a><a name="_f3f6aa18a51a46879d2eafaa95ea9f0c"></a><a name="_429ac491fdab465e933345a2b4c3e7df"></a><a name="_f873fda91ff1442c9946dbb89e65881b"></a><a name="_3243c9c8136f4f318175d9695749646a"></a><a name="_09bd8c7cae534f09982e0c5164395544"></a><a name="_3d0fa350a17144d5a4ee5426b52bd38e"></a><a name="_6496fa95c1a1431f90dd1d976aa19044"></a><a name="_b9e5e0feb4404555b95dbf85960b8726"></a><a name="_8652a8a55a6247f88128da9d57584839"></a><a name="_e863c032d3fd4779851252d315f15d5b"></a><a name="_d4bc3823e7644180b9a02267fede3ae5"></a><a name="_71c61477ff4d4879827a9a0ce50a02f7"></a><a name="_14b3490b16e44859837ba46301da3656"></a><a name="_b1d9e5316ad645c2b0c02125db35690a"></a><a name="_cb3791b62dc4461db4ccdc517bfbc0e2"></a><a name="_e473c27546c840a2b94675ba23a2d764"></a><a name="_876aa68ac05c4aeca091d358937fe735"></a><a name="_74dc763d3af543e9a35161955d3dc700"></a><a name="_72e87c1bdefa432699cb8bbfb8e38c84"></a><a name="_4cabe0e42f4940cd92160f376e81a83f"></a><a name="_43f48ffe2e8b45928585fca40bac7574"></a><a name="_2b193d73bfd84987936a0408bd2d7a40"></a><a name="_3d188d6b97aa484d87edae566aff8413"></a><a name="_a58a398639a9413fa0fef8dfb17eb7d5"></a><a name="_f5bdffa528e9478d8279a59f5999e450"></a><a name="_7613991a017645f496f7704170ec2235"></a><a name="_8e823e50a17f49abb702fef12d8d7f64"></a><a name="_8c0ba0d330904e6b90b1d8f0f0493269"></a><a name="_e6ad40e3a53c425fac4065c1d96db693"></a><a name="_190cab37e54046e89acc6b6cd8d212a2"></a><a name="_9cabe1476914469896e18c142a609e9a"></a><a name="_2ac8b43fcc0745abbfc61607d99a5315"></a><a name="_c156b38d14cc41da81b7326a8f91e158"></a><a name="_89459b7ccb5d4ba0aac65654d737e60e"></a><a name="_70ebbd5508ac4c82b5fab32faae0f37b"></a><a name="_eaf049ee426d410d85a82032a8dff005"></a><a name="_b375c190244340b5936100f9f828e0ef"></a><a name="_f8fd29f3a29a4f709cb9bae453211f43"></a><a name="_c89aa9a0aa0b494593850c32e958c87f"></a><a name="_ca60858c6baf4548a5f2f26ce00dc6b3"></a><a name="_ef9bf4ed8705470e9303078be3421933"></a><a name="_6ca06ea1c7b9461e96bb7b28b172f8a8"></a><a name="_fdf15b296873451d929a603013c2e6df"></a><a name="_bbd427d8b2e74c96b5170ca83374c4c2"></a><a name="_cd1640a63f94455b873df1af22a561a6"></a><a name="_0f6a0a6e2a394fc58bfb1ecc70c694c2"></a><a name="_d8a8341327554d4ebcf205d290d7487f"></a><a name="_c4636a62d189406084cba177be7fb6f0"></a><a name="_a57c485f3f0b42fcb0e3a750d1120a3f"></a><a name="_4d26fd5d8c614281bd6d00f97ed52ea5"></a><a name="_03d35838680d41bba9f4f323c9788923"></a><a name="_1a41869033c14b31828f40d4978dca8e"></a><font style="display: inline;font-weight:bold;color:#000000;">Nature of Operations </font></p></td></tr></table></div> <p style="margin:0pt 0pt 0pt 47pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">Anterix Inc. (formerly known as pdvWireless, Inc., the &#x201C;Company&#x201D;) is a wireless communications company focused on empowering the modernization of critical infrastructure and enterprise businesses by enabling private broadband connectivity.&nbsp; </font><font style="display: inline;color:#000000;">The Company&#x2019;s foundational spectrum provides the ability to increase resiliency and transform its customers operations to meet new business complexities while achieving higher levels of reliability, performance and security.&nbsp; </font><font style="display: inline;color:#000000;">The Company is the largest holder of </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">licensed spectrum in the 900 MHz band </font><font style="display: inline;color:#000000;">(896-901/935-940 MHz) with nationwide coverage </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">throughout the contiguous United States, Hawaii, Alaska and Puerto Rico. On average, the Company holds approximately </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">60%</font><font style="display: inline;color:#000000;background-color: #FFFFFF;"> of the channels in the 900 MHz band in the top </font><font style="display: inline;color:#000000;background-color: #FFFFFF;">20</font><font style="display: inline;color:#000000;background-color: #FFFFFF;"> metropolitan market areas in the United States.&nbsp;&nbsp;The Company is currently pursuing a regulatory proceeding at the Federal Communications Commission (the &#x201C;FCC&#x201D;), that seeks to modernize and realign the 900 MHz band to increase its usability and capacity by allowing it to be utilized for the deployment of broadband networks, technologies and solutions. At the same time, the Company is pursuing business opportunities with its targeted critical infrastructure and enterprise customers to build awareness and demand for its spectrum assets, assuming it achieves a favorable result with its FCC initiatives.&nbsp; </font> </p> <p style="margin:0pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;background-color: #FFFFFF;">&#xFEFF;</font> </p> <p style="margin:0pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;background-color: #FFFFFF;">The Company&#x2019;s goal is to become the leading provider of broadband spectrum assets to critical infrastructure and enterprise customers. Assuming its FCC initiatives are successful, the Company&#x2019;s spectrum assets have the potential to enable its customers to deploy broadband networks, technologies and solutions that are private, secure, reliable and cost-effective and at the same time allow them to achieve their modernization objectives and regulatory obligations.</font> </p> <p style="margin:6pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">The Company was originally incorporated in California in 1997 and reincorporated in Delaware in 2014.&nbsp;&nbsp;In November 2015, the Company changed its name from Pacific DataVision, Inc. to pdvWireless, Inc.&nbsp;&nbsp;On August 6, 2019, the Company changed its name from pdvWireless, Inc. to Anterix Inc. The Company maintains offices in Woodland Park, New Jersey and McLean, Virginia.&nbsp; </font> </p> <p style="margin:6pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">Historically, the Company generated revenue principally from its pdvConnect and TeamConnect businesses.&nbsp;&nbsp;pdvConnect is a mobile communication and workforce management solution that enables businesses to locate and communicate with their field workers and improve the documentation of work events and job status.&nbsp;&nbsp;The Company historically marketed pdvConnect primarily through two Tier 1 carriers in the United States.&nbsp;&nbsp;In Fiscal 2016, it began offering a commercial push-to-talk (&#x201C;PTT&#x201D;) service, which was marketed as TeamConnect, in </font><font style="display: inline;color:#000000;">seven</font><font style="display: inline;color:#000000;"> major metropolitan areas throughout the United States, including Atlanta, Baltimore/Washington, Chicago, Dallas, Houston, New York and Philadelphia.&nbsp;&nbsp;The Company developed TeamConnect to address the needs of enterprises that value a tailored PTT solution addressing the management of their mobile workforce.&nbsp;&nbsp;It primarily offered the TeamConnect service to customers indirectly through third-party sales representatives who were primarily selected from Motorola&#x2019;s nationwide dealer network.&nbsp;&nbsp;</font> </p> <p style="margin:6pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">In June 2018, the Company announced its plan to restructure its business to align and focus its business priorities on its spectrum initiatives aimed at modernizing and realigning the 900 MHz band to increase its usability and capacity, including for the future deployment of broadband and other advanced technologies and services. In December 2018, the Company&#x2019;s board of directors approved the transfer of the Company&#x2019;s TeamConnect business and support for its pdvConnect business.&nbsp;&nbsp;Specifically, the Company entered into: (i) a Customer Acquisition and Resale Agreement with A BEEP LLC, (&#x201C;A BEEP&#x201D;), on January 2, 2019 (ii) a Customer Acquisition, Resale and Licensing Agreement with Goosetown Enterprises, Inc, (&#x201C;Goosetown&#x201D;) on January 2, 2019, and (iii) a memorandum of understanding (&#x201C;MOU&#x201D;) with the principals of Goosetown on December 31, 2018.&nbsp;&nbsp;On March 31, 2019, the agreements were amended to formally set the transition date for the businesses as April 1, 2019 as well as to clarify the responsibilities between the parties.&nbsp; </font> </p> <p style="margin:6pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">Under the terms of the MOU, the Company agreed to assign the intellectual property rights to its TeamConnect and pdvConnect applications to TeamConnect LLC (the &#x201C; LLC &#x201D;), a new entity formed by the principals of Goosetown, in exchange for a </font><font style="display: inline;color:#000000;">19.5%</font><font style="display: inline;color:#000000;"> ownership interest in the LLC.&nbsp;&nbsp;The Goosetown principals agreed to fund the future operations of the LLC, subject to certain limitations.&nbsp;&nbsp;The LLC assumed the software support and maintenance obligations under the Goosetown and A BEEP Agreements.&nbsp;&nbsp;The LLC also assumed customer care services related to the pdvConnect application.&nbsp;&nbsp;The Company provided transition services to the LLC through April 1, 2019 to facilitate an orderly transition of the customer care services.&nbsp;&nbsp;As of June 30, 2019, the agreed upon intellectual property rights had not transferred to the LLC.&nbsp;&nbsp;Therefore, the Company did not record an investment in the LLC as of such date.&nbsp;&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">&#xFEFF;</font> </p> <p><font size="1"> </font></p> </div> </div>
CY2018Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-108000
CY2019Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1577000
CY2018Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-155000
CY2019Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-247000
CY2018Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7119000
CY2019Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9030000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-12302000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-9374000
CY2019Q2 us-gaap New Accounting Pronouncement Or Change In Accounting Principle Effect Of Adoption Quantification
NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification
2300000
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
12345000
CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
8500000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-12619000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-9536000
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
624000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
9400000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
9869000
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1624000
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8245000
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.13
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.13
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y6M11D
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000
CY2019Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
100000
CY2019Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
517000
CY2018Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
112000
CY2019Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
142000
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1188000
CY2019Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
2260000
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-177650000
CY2019Q2 us-gaap Sublease Income
SubleaseIncome
4000
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1180000
CY2018Q2 us-gaap Restructuring Charges
RestructuringCharges
3975000
CY2019Q2 us-gaap Restructuring Charges
RestructuringCharges
110000
CY2018Q2 us-gaap Restructuring Costs
RestructuringCosts
1210000
CY2019Q2 us-gaap Restructuring Costs
RestructuringCosts
-803000
CY2019Q1 us-gaap Restructuring Reserve
RestructuringReserve
2655000
CY2019Q2 us-gaap Restructuring Reserve
RestructuringReserve
2138000
CY2019Q2 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
243000
CY2019Q2 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:12pt 0pt 0pt 22.3pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-style:italic;">Reclassifications </font> </p> <p style="margin:6pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">Certain prior year amounts have been reclassified to conform to the presentation of the corresponding amounts in the financial statements for the three months ended June 30, 2019. These reclassifications had no effect on previously reported results of operations, cash flows, assets, liabilities or equity for the periods presented.</font> </p> <p><font size="1"> </font></p> </div> </div>
CY2018Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4000
CY2019Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1719000
CY2019Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17499000
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17046000
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9830000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9309000
CY2018Q2 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
60000
CY2019Q2 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
87000
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
637000
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
686000
CY2018Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
20
CY2018Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
7
CY2018Q4 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
20
CY2018Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.20
CY2018Q4 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.30
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1631000
CY2019Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1214000
CY2019Q2 us-gaap Severance Costs1
SeveranceCosts1
144000
CY2019Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
22000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
208529000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
200707000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
180764000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
174544000
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest Adjusted Balance1
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1
209297000
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest Adjusted Balance1
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1
180764000
CY2018Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3820000
CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1577000
CY2018Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
4000
CY2019Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1719000
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14481561
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14763379

Files In Submission

Name View Source Status
0001304492-19-000045-index-headers.html Edgar Link pending
0001304492-19-000045-index.html Edgar Link pending
0001304492-19-000045.txt Edgar Link pending
0001304492-19-000045-xbrl.zip Edgar Link pending
atex-20190630.xml Edgar Link completed
atex-20190630.xsd Edgar Link pending
atex-20190630x10q.htm Edgar Link pending
atex-20190630xex31_1.htm Edgar Link pending
atex-20190630xex31_2.htm Edgar Link pending
atex-20190630xex32_1.htm Edgar Link pending
atex-20190630xex32_2.htm Edgar Link pending
atex-20190630_cal.xml Edgar Link unprocessable
atex-20190630_def.xml Edgar Link unprocessable
atex-20190630_lab.xml Edgar Link unprocessable
atex-20190630_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending