Anterix (ATEX) Reports Fiscal 2026 Results, Expands Utility Broadband Network Business
Anterix (NASDAQ: ATEX) reported fiscal 2026 fourth-quarter and full-year results on Wednesday, highlighting new spectrum agreements with utility customers, regulatory progress in the 900 MHz broadband market, and a strong balance sheet as the company continues expanding its private wireless broadband platform for critical infrastructure operators.
During fiscal 2026, Anterix signed new spectrum sale agreements with CPS Energy, Texas-New Mexico Power, and NorthWestern Energy, generating total contracted proceeds of approximately $23.9 million. The company also announced that it entered into an additional spectrum sale agreement with Benton Public Utility District in April 2026, adding another $0.8 million in contracted value.
The agreements support Anterix’s strategy of providing private wireless broadband spectrum to utility companies seeking to modernize grid operations, enhance cybersecurity, and improve communications infrastructure.
FCC Decision Marks Key Industry Milestone
One of the most significant developments during the year came in February when the Federal Communications Commission adopted a Report and Order expanding the 900 MHz broadband segment from 6 MHz to 10 MHz.
The regulatory change is expected to increase spectrum capacity available for utility broadband networks and strengthen the long-term value proposition of Anterix’s spectrum assets.
The company has been a leading advocate for private utility broadband networks built on dedicated licensed spectrum, which utilities increasingly view as critical infrastructure for grid modernization and operational resilience.
Spectrum Transactions Drive Financial Performance
Throughout fiscal 2026, Anterix delivered broadband licenses covering 155 counties and recorded a gain of $34.8 million from the sale of intangible assets.
The company also completed exchanges of narrowband licenses for broadband licenses across 219 counties, generating a gain of $105.4 million.
During the fourth quarter alone, Anterix delivered broadband licenses covering 92 counties and recorded a $22.0 million gain on intangible asset sales. The company also exchanged licenses in 46 counties during the quarter, generating an additional $11.1 million gain.
To support future deployments, Anterix invested $27.2 million in spectrum clearing activities during fiscal 2026, including $7.4 million during the fourth quarter.
New Service Offerings Introduced
In addition to its spectrum business, the company expanded its product portfolio with the launch of TowerX™, a tower site access service, and CatalyX®, a turnkey connectivity management solution.
The new offerings are designed to help utilities accelerate deployment and management of private wireless communications networks, creating additional revenue opportunities beyond spectrum licensing.
Strong Financial Position
Anterix ended fiscal 2026 with a strong balance sheet, reporting cash and cash equivalents of $98.5 million and no outstanding debt.
The company also held approximately $6.1 million in restricted cash related to escrow deposits.
Management noted that Anterix has received approximately $127 million in contracted proceeds from customers to date, with an additional $50 million in contracted proceeds still outstanding.
Share Repurchase Program Remains Active
The company continues to maintain a share repurchase authorization of up to $250 million through September 2026.
While no shares were repurchased during the fiscal fourth quarter, Anterix repurchased approximately $1 million of stock during the full fiscal year. As of March 31, 2026, roughly $226.7 million remained available under the program.
Outlook
As utilities continue investing in grid modernization, cybersecurity, and advanced communications infrastructure, Anterix remains positioned to benefit from growing demand for private broadband networks built on licensed spectrum.
The recent FCC expansion of the 900 MHz broadband band, combined with new utility partnerships and growing contracted revenue, provides additional momentum for the company’s long-term growth strategy.
Management continues to focus on expanding utility adoption of private wireless broadband networks while developing complementary services that support deployment and operational management across critical infrastructure sectors.