Latest news with #ScottLang
Associated Press
10-03-2025
- Business
- Associated Press
Anterix Unveils $250M AnterixAccelerator™
WOODLAND PARK, N.J., March 10, 2025 (GLOBE NEWSWIRE) -- Anterix (NASDAQ: ATEX), the recognized market leader in private wireless broadband, has launched its highly anticipated AnterixAccelerator initiative with an investment of up to $250 million. During discussions with participants, which included more than 15 utilities in addition to current Anterix customers and Anterix Active Ecosystem® members, key aspects of the initiative were highlighted, including: Dollar-for-Dollar Match Ownership Terms Path to 5 MHz by 5 MHz Customized Commercial Structures Anterix White Glove Support 'This initiative reflects our unwavering commitment to helping utilities overcome the barriers to deploying 900 MHz private LTE networks. The significant interest we've seen across the industry to join the AnterixAccelerator initiative underscores the urgent need for reliable, secure, and scalable private networks in the utility sector,' said Scott Lang, President & CEO of Anterix. 'With a quarter-billion-dollar commitment, we're not just enabling the next wave of broadband deployments—we're helping to ensure that more of our nation's utilities can move forward to realize the value of these critical communications systems. Anterix's extensive expertise, valuable 900 MHz spectrum asset, and strong device and solution ecosystem uniquely position us to lead the industry in making private wireless networks more accessible and more deployable for utilities nationwide. 'As the market leader we are well positioned to deliver on this exciting initiative. We have never been stronger, with seven leading utility customers, more than 120 technology and solution providers, nearly $400 million of contracts to deploy 900 MHz private wireless broadband networks, and zero debt. We are poised to accelerate the utility industry's technological evolution.' -Scott Lang, Anterix President & CEO Shareholder Contact Natasha Vecchiarelli Vice President, Investor Relations & Corporate Communications Anterix 973-531-4397 About Anterix At Anterix, we partner with leading utilities and technology companies to harness the power of 900 MHz broadband for modernized grid solutions. Leading an ecosystem of more than 120 members, we offer utility-first solutions to modernize the grid and solve the challenges that utilities are facing today. As the largest holder of licensed spectrum in the 900 MHz band (896-901/935-940 MHz) throughout the contiguous United States, plus Alaska, Hawaii, and Puerto Rico, we are uniquely positioned to enable private wireless broadband solutions that support cutting-edge advanced communications capabilities for a cleaner, safer, and more secure energy future. To learn more and join the 900 MHz movement, please visit
Yahoo
13-02-2025
- Business
- Yahoo
Anterix Inc (ATEX) Q3 2025 Earnings Call Highlights: Strategic Expansion and Cost Efficiency ...
Expansion Agreement: $13.5 million expansion agreement with the Lower Colorado River Authority. Cost Reductions: Identified cost reductions of approximately 20% annually. Share Repurchase Program: Returned approximately $4 million to shareholders in the third quarter. Cash Position: Incremental cash increase of $34 million received at the end of January. Cash on Balance Sheet: Approximately $29 million as of December 31, 2024. Uncollected Contract Proceeds: Approximately $150 million, with $80 million expected by March 31, 2026. Operational Expense Reduction: 20% reduction from annualized run rate from the second quarter. Share Repurchase Year-to-Date: $6.5 million returned to shareholders in fiscal '25, including $4.4 million in the third quarter. Warning! GuruFocus has detected 3 Warning Signs with ATEX. Release Date: February 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Anterix Inc (NASDAQ:ATEX) announced a $13.5 million expansion agreement with the Lower Colorado River Authority, extending broadband coverage to 102 counties in Texas. The company has achieved significant scale, covering 93% of Texas counties with its 900 MHz broadband spectrum. Anterix Inc (NASDAQ:ATEX) has identified key areas for cost reductions, achieving approximately 20% annual savings without compromising operational efficiency. The company returned roughly $4 million to shareholders through a share repurchase program, reflecting confidence in its business strategy. Anterix Inc (NASDAQ:ATEX) is leading the market in private LTE deployments, with 7 customers deploying across 15 states, showcasing its strong ecosystem of 120+ companies. The company's equity value has not significantly changed despite moving closer to a 5x5 MHz offering, suggesting a potential undervaluation. Utilities, a key market for Anterix Inc (NASDAQ:ATEX), are traditionally slow-moving, which may impact the speed of adoption for new initiatives. The strategic review process, while potentially beneficial, introduces uncertainty regarding future partnerships or changes in business strategy. There is still work to be done to move the FCC's proposed rulemaking for the 5x5 MHz expansion to a report and order, which could delay potential benefits. The company faces challenges in pricing and structuring deals to make the transition to 5x5 MHz attractive and feasible for utilities. Q: With the move from 3x3 to 5x5 MHz, your equity value hasn't changed much. Is the interest from outside parties due to the perceived undervaluation of your spectrum? A: Scott Lang, President and CEO, explained that the interest stems from the company's large ecosystem, the transition of customers from lab to field, and the pipeline of opportunities. The 5x5 MHz expansion is seen as an additional advantage, even though the current 3x3 MHz satisfies current demands. The interest comes from both financial and strategic entities, recognizing Anterix's market leadership and financial strength. Q: What motivates utilities to move faster with your industry initiative, given their traditionally slow pace? A: Scott Lang noted that the transition from lab to field has demonstrated the performance and use cases of their spectrum, creating urgency among utilities. The initiative aims to make it easier for utilities to adopt the technology by being aggressive on pricing and offering a frictionless transition. Q: How long does it typically take to move from rate case approval to spectrum licensing? A: Brian McAuley, Chairman Emeritus, stated that there is no single timeline as it varies by utility. Regulatory support is a significant step, and utilities can take different paths based on their options and procurement processes. Q: Can you provide goalposts for pricing your spectrum, considering previous auctions and current market conditions? A: Christopher Guttman-Mccabe, Chief Regulatory and Communications Officer, mentioned that previous auctions like AWS 3 and 600 MHz serve as benchmarks. Anterix has room to be creative with pricing, given its current market cap and the potential value to shareholders and utilities. Q: For counties with existing 3x3 MHz deals, will customers automatically get access to 5x5 MHz, and will there be incremental payments? A: Scott Lang indicated that there would likely be demand for the 5x5 MHz for strategic reasons, and there would be negotiations for its value. The pricing specifics will be determined when the time comes. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
11-02-2025
- Business
- Yahoo
Anterix Shares Surge 26% as Company Engages Morgan Stanley for Strategic Review
Anterix (ATEX, Financials) shares jumped 26% to $35.91 at 11:47 am GMT-5 on Tuesday after the company announced it has engaged Morgan Stanley & Co. LLC as a financial advisor to initiate a strategic review process in response to inbound interest, Anterix said in a statement. Warning! GuruFocus has detected 3 Warning Signs with ATEX. Providing private wireless broadband solutions for utilities, the business said the assessment is to evaluate chances to profit from rising demand for its products. Anterix pointed out that there is no guarantee of the result and did not provide a chronology for finishing the procedure. Anterix separately launched a new industry engagement project intended to hasten the implementation of 900 MHz private wireless broadband networks. Along with possible alliances with members of its 120-plus firm ecosystem, the corporation said the endeavor will entail a review of pricing, payment arrangements, and ownership conditions. Anterix's president and CEO, Scott Lang, said the project is meant to cut the time frame for utilities to benefit from private wireless broadband networks. Utilities trying to upgrade grid communications have already shown great interest in the startup, he pointed out. As the leading provider of private wireless broadband, zero debt, and a strong customer pipeline, it does not surprise us that we have had some inbound strategic interest, Lang said. The business underlined once again that it would provide updates on the strategic review process in line with legal responsibilities. Anterix is set to report third-quarter fiscal 2025 earnings on Wednesday at 9 a.m. ET. This article first appeared on GuruFocus.
