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Anterix Inc. Reports Third Quarter Fiscal Year 2024 Results

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WOODLAND PARK, N.J., Feb. 14, 2024 /PRNewswire/ — Anterix (NASDAQ: ATEX) today announced its third quarter fiscal 2024 results and filed its 10-Q for the three and nine months ended December 31, 2023.

Third quarter fiscal 2024 Financial Highlights

Cash and cash equivalents of $62.0 million as of December 31, 2023Executed a new spectrum lease agreement with a Florida utility for a total of $34.5 million, of which $6.9 million was received in December 2023Exchanged narrowband for broadband licenses in 10 counties and recorded a gain on exchange of narrowband licenses for broadband licenses of $13.7 millionRepurchased $8.0 million of ATEX stockIncurred spectrum clearing costs of $4.7 million

The Company also issued an update on its Demonstrated Intent metric which can be found on Anterix’s website at 
https://www.investors.anterix.com/Q32024.  

About Anterix Inc. 

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 100 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 Hawaii, Alaska, and Puerto Rico, we are uniquely positioned to enable private LTE 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 www.anterix.com.

Forward-Looking Statements 

Certain statements contained in this press release constitute forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future events or achievements such as statements in this press release related to the Anterix’s business or financial results or outlook. Actual events or results may differ materially from those contemplated in this press release. Forward-looking statements speak only as of the date they are made and readers are cautioned not to put undue reliance on such statements, as they are subject to a number of risks and uncertainties that could cause Anterix’s actual future results to differ materially from results indicated in the forward-looking statement. Such statements are based on assumptions that could cause actual results to differ materially from those in the forward-looking statements, including: (i) the timing of payments under customer agreements, (ii) Anterix’s ability to clear the 900 MHz Broadband Spectrum on a timely basis and on commercially reasonable terms; and (iii) Anterix’s ability to qualify for and timely secure broadband licenses. Actual events or results may differ materially from those contemplated in this press release. Anterix’s filings with the Securities and Exchange Commission (“SEC”), which you may obtain for free at the SEC’s website at http://www.sec.gov, discuss some of the important risk factors that may affect the company’s financial outlook, business, results of operations and financial condition. Anterix undertakes no obligation to update publicly or revise any forward-looking statements contained herein.

Shareholder Contact 

Natasha Vecchiarelli
Vice President, Investor Relations & Corporate Communications
Anterix
973-531-4397
nvecchiarelli@anterix.com 

 

Anterix Inc.
Earnings Release Tables
Consolidated Balance Sheets
(in thousands, except share and per share data)

December 31, 2023

March 31, 2023

(Unaudited)

ASSETS

Current Assets

Cash and cash equivalents

$                 62,033

$                 43,182

Prepaid expenses and other current assets

15,816

16,277

Total current assets

77,849

59,459

Escrow deposits

7,517

—

Property and equipment, net

2,129

3,606

Right of use assets, net

4,629

3,371

Intangible assets

213,719

202,044

Other assets

15,037

10,078

Total assets

$               320,880

$               278,558

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities

Accounts payable and accrued expenses

$                   8,212

$                   6,624

Due to related parties

—

533

Operating lease liabilities

1,888

1,725

Contingent liability

1,000

20,249

Deferred revenue

6,163

2,769

Total current liabilities

17,263

31,900

Operating lease liabilities

3,700

2,922

Contingent liability

15,000

—

Deferred revenue

100,897

57,990

Deferred gain on sale of intangible assets

4,911

—

Deferred income tax

6,332

5,440

Other liabilities

513

513

Total liabilities

148,616

98,765

Commitments and contingencies

Stockholders’ equity

Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized and
no shares outstanding at December 31, 2023 and March 31, 2023

—

—

Common stock, $0.0001 par value per share, 100,000,000 shares authorized and
18,554,424 shares issued and outstanding at December 31, 2023 and 18,921,999
shares issued and outstanding at March 31, 2023

2

2

Additional paid-in capital

529,054

518,160

Accumulated deficit

(356,792)

(338,369)

Total stockholders’ equity

172,264

179,793

Total liabilities and stockholders’ equity

$               320,880

$               278,558

 

Anterix Inc.
Earnings Release Tables
Consolidated Statements of Operations 
(Unaudited, in thousands, except share and per share data)

Three months ended December 31,

Nine months ended December 31,

2023

2022

2023

2022

Spectrum revenues

$              1,271

$                 578

$              2,931

$              1,311

Operating expenses

General and administrative

11,252

12,085

34,830

34,871

Sales and support

1,380

1,385

3,965

3,785

Product development

1,238

936

3,454

3,012

Depreciation and amortization

198

373

653

1,107

Operating expenses

14,068

14,779

42,902

42,775

Gain on disposal of intangible assets, net

(13,737)

(5,776)

(33,035)

(9,329)

Gain on sale of intangible assets, net

(32)

—

(7,364)

—

Loss (gain) on disposal of long-lived assets, net

3

(21)

39

1

Gain (loss) from operations

969

(8,404)

389

(32,136)

Interest income

666

409

1,448

670

Other income

31

185

189

232

Income (loss) before income taxes

1,666

(7,810)

2,026

(31,234)

Income tax expense

1,338

210

1,743

625

Net income (loss)

$                 328

$            (8,020)

$                 283

$          (31,859)

Net income (loss) per common share basic

$                0.02

$              (0.42)

$                0.02

$              (1.69)

Net income (loss) per common share diluted

$                0.02

$              (0.42)

$                0.01

$              (1.69)

Weighted-average common shares used to compute
basic net income (loss) per share

18,704,400

18,930,594

18,858,472

18,834,991

Weighted-average common shares used to compute
diluted net income (loss) per share

18,916,246

18,930,594

19,082,867

18,834,991

 

Anterix Inc.
Earnings Release Tables
Consolidated Statements of Cash Flows
(Unaudited, in thousands)

Three months ended December 31,

Nine months ended December 31,

2023

2022

2023

2022

CASH FLOWS FROM OPERATING ACTIVITIES

Net income (loss)

$                  328

$             (8,020)

$                  283

$           (31,859)

Adjustments to reconcile net income (loss) to net cash
provided by (used in) operating activities

Depreciation and amortization

198

373

653

1,107

Non-cash compensation expense attributable to stock awards

3,921

4,592

12,024

13,411

Deferred income taxes

519

210

892

613

Gain on disposal of intangible assets, net

(13,737)

(5,776)

(33,035)

(9,329)

Gain on sale of intangible assets, net

(32)

—

(7,364)

—

Loss (gain) on disposal of long-lived assets, net

3

(21)

39

1

Changes in operating assets and liabilities

Prepaid expenses and other assets

(466)

(597)

322

666

Right of use assets

(1,803)

(38)

(1,258)

480

Accounts payable and accrued expenses

1,214

1,175

1,588

43

Due to related parties

—

—

(533)

—

Operating lease liabilities

1,700

(48)

941

(747)

Contingent Liability

15,000

—

15,000

249

Deferred revenue

26,795

7,422

46,301

6,689

Net cash provided by (used in) investing activities

33,640

(728)

35,853

(18,676)

CASH FLOWS FROM INVESTING ACTIVITIES

Purchases of intangible assets, including refundable deposits

(4,732)

(7,841)

(14,809)

(19,069)

Proceeds from sale of spectrum

249

—

25,427

—

Purchases of equipment

(55)

(398)

(267)

(1,543)

Net cash (used in) provided by operating activities

(4,538)

(8,239)

10,351

(20,612)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from stock option exercises

—

—

7

872

Repurchase of common stock

(7,971)

(3,498)

(18,706)

(8,223)

Payments of withholding tax on net issuance of restricted
stock

(115)

(138)

(1,137)

(1,474)

Net cash used in financing activities

(8,086)

(3,636)

(19,836)

(8,825)

Net change in cash and cash equivalents and
restricted cash

21,016

(12,603)

26,368

(48,113)

CASH AND CASH EQUIVALENTS AND RESTRICTED
CASH

Cash and cash equivalents and restricted cash at beginning
of the period

48,534

70,114

43,182

105,624

Cash and cash equivalents and restricted cash at end of the
period

$             69,550

$             57,511

$             69,550

$             57,511

SUPPLEMENTAL DISCLOSURE OF CASH FLOW
INFORMATION

Cash paid during the period:

Taxes paid

$                    —

$                    —

$                      1

$                    12

Non-cash investing activity:

Network equipment provided in exchange for wireless
licenses

$                    48

$                      1

$                  616

$                    30

Deferred gain on sale of intangible assets

$                    22

$                    —

$               4,911

$                    —

Derecognition of contingent liability related to sale of
intangible assets

$                  409

$                    —

$             19,249

$                    —

 

The following tables provide a reconciliation of cash and cash equivalents and restricted cash reported on the Consolidated Balance
Sheets that sum to the total of the same such amounts on the Consolidated Statements of Cash Flows:

December 31, 2023

September 30, 2023

March 31, 2023

Cash and cash equivalents

$                       62,033

$                       48,534

$                       43,182

Escrow deposits

7,517

—

—

Total cash and cash equivalents and restricted cash

$                       69,550

$                       48,534

$                       43,182

December 31, 2022

September 30, 2022

March 31, 2022

Cash and cash equivalents

$                       57,511

$                       70,114

$                     105,624

Escrow deposits

—

—

—

Total cash and cash equivalents and restricted cash

$                       57,511

$                       70,114

$                     105,624

 

Anterix Inc.
Earnings Release Tables
Other Financial Information
(Unaudited, in thousands except per share data)

Three Months Ended December 31,

Nine Months Ended December 31,

2023

2022

2023

2022

Number of shares repurchased and retired

230

106

563

216

Average price paid per share*

$              34.77

$              33.11

$             33.62

$              47.05

Total cost to repurchase

$              7,971

$              3,498

$           18,706

$              8,223

*         Average price paid per share includes costs associated with the repurchases.

As of December 31, 2023, $242.0 million is remaining under the share repurchase program.

 

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SOURCE Anterix Inc.

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Amid Rising Costs and Surgical Disruptions in ASCs, NorthStar Anesthesia Strengthens Focus on ASC Partnerships

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With 17 new ASC partnerships nationwide to date in 2026, NorthStar Anesthesia emphasizes proactive patient assessment, reliable staffing, and clinical consistency to help surgery centers reduce preventable cancellations and maximize surgical capacity.

IRVING, Texas, Oct. 23, 2026 /PRNewswire/ — As ambulatory surgery centers (ASCs) face mounting financial pressures, staffing challenges, and increasingly complex patient needs, anesthesia has emerged as a critical partner in their ability to operate efficiently and sustainably. NorthStar Anesthesia is addressing these challenges through a dedicated ASC model designed to reduce preventable case cancellations, improve surgical throughput, and help centers make the most of their existing operating room capacity.

NorthStar celebrates 17 new ASC partnerships nationwide to date in 2026.

“The challenge for ASCs today isn’t simply finding anesthesia coverage. It’s ensuring that coverage translates into reliable surgical capacity,” said Cindy Myers, Vice President of ASC Operations at NorthStar Anesthesia. “When cases are cancelled unnecessarily or operating rooms aren’t running as planned, the impact extends well beyond the anesthesia department. Our focus is on helping centers address those challenges systematically, so they can deliver more consistent care and operate more efficiently.”

Reducing Preventable Cancellations Through Better Preparation

One of the most significant opportunities to improve ASC performance lies in the preoperative process. When potential anesthesia concerns are not identified until the day of surgery, patients may face unexpected cancellations, surgeons lose valuable operating time, and centers absorb the cost of unused capacity.

NorthStar addresses this challenge through ASC-specific pre-anesthesia testing (PAT) guidelines and standardized clinical protocols designed to identify potential issues earlier, facilitate appropriate patient optimization, and support consistent decision-making across the surgical process.

“In ambulatory surgery, the decisions made before the patient arrives are often just as important as those made in the operating room,” said Gajan Mahendran, MD, Vice President of Physician Services at NorthStar Anesthesia. “A consistent, evidence-based approach to preoperative assessment helps us identify risks earlier, determine which patients are appropriate for the ASC setting, and address potential barriers to surgery in advance. That means fewer last-minute surprises and a better experience for patients, surgeons, and facilities.”

Aligning Anesthesia Resources With Surgical Demand

Alongside clinical challenges, ASCs are navigating a changing economic environment. In a recent Becker’s ASC Review interview, NorthStar CEO Adam Spiegel noted that approximately 80% of ASCs in NorthStar’s network now require anesthesia stipends, compared with just 10% to 15% before the pandemic.

As anesthesia costs rise, ensuring that staffing levels align with actual surgical demand has become increasingly important. NorthStar works with ASC partners to develop staffing models that reflect each facility’s case mix, surgical volume, and operating requirements. “Adding anesthesia resources doesn’t automatically improve performance if those resources aren’t aligned with the center’s surgical volume,” Myers said. “We work closely with our partners to understand their schedules, case mix, and operational needs so we can build a model that supports both reliable access to care and financial sustainability.”

Combining National Resources With Local Clinical Expertise

As ASCs take on a greater share of surgical procedures, the demands placed on anesthesia providers are becoming more complex. Smaller or locally managed anesthesia groups may face challenges maintaining consistent coverage, recruiting clinicians, or investing in standardized clinical and operational processes.

NorthStar’s model combines local clinical leadership with national recruiting capabilities, dedicated ASC operations expertise, and established quality guidelines. This infrastructure helps support continuity of care, consistent clinical practices, and the flexibility to respond to changes in surgical demand.

The approach is reflected in NorthStar’s expanding ASC partnerships.  To date in 2026 alone, NorthStar has added 17 ASC partnerships, including CarePlex Orthopaedic Ambulatory Surgery Center in Norfolk, Virginia; Stony Point Surgery Center and West Creek Surgery Center, both part of MedRVA Healthcare in Richmond, Virginia; an Orthopedic Surgery Center in Wisconsin; Eye Surgery Center of Homewood in Homewood, Alabama; and The Toledo Clinic ASC in Toledo, Ohio.

These partnerships reflect the growing importance of anesthesia providers that can address both the clinical and operational needs of outpatient surgery centers.

To learn more and to request a confidential anesthesia program assessment, please contact James Bagliani, Director of Business Development, NorthStar Anesthesia at james.bagliani@northstaranesthesia.com. 

About NorthStar Anesthesia

NorthStar Anesthesia is a company of caregivers, founded by an anesthesiologist and a Certified Registered Nurse Anesthetist (CRNA). With more than 4,000 anesthesiologists and CRNAs under its banner, NorthStar partners with more than 280 healthcare client sites across more than 20 states and counting to deliver a more productive and efficient model of anesthesia care. Its care team approach focuses on the provision of high-quality care while measurably improving operating room performance.

Media Contact: James Bagliani, Director of Business Development, NorthStar Anesthesia james.bagliani@northstaranesthesia.com

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SOURCE NorthStar Anesthesia

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Dimethylaminopropylamine Market to Reach USD 731.9 Million by 2035 on Surfactant and Epoxy Demand, Credence Research Finds

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LONDON, Oct. 23, 2026 /PRNewswire/ — Credence Research Inc. has added the “Dimethylaminopropylamine Market – Growth, Share, Opportunities & Competitive Analysis, 2025–2035” study to its market intelligence portfolio. The report examines market value, segmentation, demand drivers, regional dynamics, competition and recent industry developments.

The dimethylaminopropylamine (DMAPA) market was valued at USD 452.6 million in 2025 and is projected to reach USD 731.9 million by 2035, representing a 4.92% compound annual growth rate over 2025–2035, according to Credence Research. The firm estimates 2026 revenue at USD 474.3 million. Asia Pacific accounted for the largest modeled geographic share at 44.0% in 2025, while Asia Pacific is projected to grow fastest at 5.88% annually. Market sizes, regional shares and segment shares are Credence Research estimates rather than independently audited industry totals.

Key Takeaways

The market is forecast to increase from USD 452.6 million in 2025 to USD 731.9 million by 2035, with a reported CAGR of 4.92%.Asia Pacific led the modeled 2025 geography with 44.0%; Asia Pacific has the fastest forecast geographic growth of 5.88%.By application, Surfactants accounted for 61.0% of modeled 2025 value, while Epoxy curing agents is forecast to grow at 5.66% a year.By end-use industry, Personal care and cosmetics accounted for 44.0% of modeled 2025 value, while Paints, coatings and composites is forecast to grow at 5.61% a year.The market definition excludes adjacent product or transaction value where that spending is outside the report’s measured scope.

Scope & Segmentation – Dimethylaminopropylamine Market

The study values sales of 3-(dimethylamino)-1-propylamine, an amine intermediate produced from dimethylamine and acrylonitrile. Included uses span betaine and amine-oxide surfactants, epoxy curing agents, polyurethane catalysts, water treatment chemicals, agrochemical intermediates and lubricant additives. Finished surfactants, coatings and other downstream products are excluded from the DMAPA revenue estimate.

By application: Surfactants (betaines and amine oxides); Epoxy curing agents; Polyurethane catalysts; Water treatment chemicals; Agrochemical intermediates; Fuel and lubricant additives; Others.By end-use industry: Personal care and cosmetics; Home care and institutional cleaning; Paints, coatings and composites; Water treatment; Agriculture; Automotive and lubricants.By geography: Asia Pacific; Europe; North America; Latin America; Middle East and Africa.

Read the complete report and request a sample: https://www.credenceresearch.com/report/dimethylaminopropylamine-market 

Why This Report Matters

The study distinguishes a narrowly defined revenue pool from adjacent activity that can inflate comparisons between research estimates. This helps strategy teams compare suppliers, customer budgets and product categories on a consistent basis.The base-year segment mix identifies where current purchasing is concentrated, while the modeled faster-growing categories help evaluate investment timing and market entry.Geographic shares are proprietary estimates; company and regulatory announcements are used to explain demand mechanisms, not to independently verify global market totals.

Market Overview
The study values sales of 3-(dimethylamino)-1-propylamine, an amine intermediate produced from dimethylamine and acrylonitrile. Included uses span betaine and amine-oxide surfactants, epoxy curing agents, polyurethane catalysts, water treatment chemicals, agrochemical intermediates and lubricant additives. Finished surfactants, coatings and other downstream products are excluded from the DMAPA revenue estimate.

DMAPA is a building block for cocamidopropyl betaine and related surfactants used in shampoos, body washes and dishwashing products. Producers serving consumer brands require consistent quality and supply, so the largest application tends to support repeat orders rather than episodic equipment-style purchases.

The outlook reflects expected changes in customer adoption, procurement, technology and regulation. It should be read as a modeled scenario, not as a guarantee of sales or company performance.

Key Attributes

Attribute

Details

Base year

2025

Historical reference

2018–2025

2025 market size

USD 452.6 million

2026 estimate

USD 474.3 million

2035 market forecast

USD 731.9 million

Reported CAGR

4.92% (2025–2035)

Geographic scope

Global

Primary source

https://www.credenceresearch.com/report/dimethylaminopropylamine-market

Segmentation

By application
The study divides this category into surfactants (betaines and amine oxides); epoxy curing agents; polyurethane catalysts; water treatment chemicals; agrochemical intermediates; fuel and lubricant additives; others. Surfactants led the 2025 value mix with 61.0%. Epoxy curing agents is the fastest-growing modeled subsegment at 5.66% a year. These shares represent Credence Research model outputs, not audited supplier sales.

By end-use industry
The study divides this category into personal care and cosmetics; home care and institutional cleaning; paints, coatings and composites; water treatment; agriculture; automotive and lubricants. Personal care and cosmetics led the 2025 value mix with 44.0%. Paints, coatings and composites is the fastest-growing modeled subsegment at 5.61% a year. These shares represent Credence Research model outputs, not audited supplier sales.

Market Growth Drivers

Mild cleansing formulas sustain high-volume demand
DMAPA is a building block for cocamidopropyl betaine and related surfactants used in shampoos, body washes and dishwashing products. Producers serving consumer brands require consistent quality and supply, so the largest application tends to support repeat orders rather than episodic equipment-style purchases.

Epoxy hardeners provide a faster-growth outlet
DMAPA-based amidoamines are used in epoxy curing systems for floors, protective coatings and composite applications. Wind blade production and industrial maintenance provide additional demand. The report models epoxy curing agents as the fastest-growing application, although their value starts below surfactants.

Capacity integration shapes producer economics
The chemical route depends on dimethylamine and acrylonitrile, making feedstock access and energy costs important. Integrated producers can manage these inputs and purity requirements more directly, while regional buyers value dependable supply and local technical support.

Regional Analysis
Asia Pacific held 44.0% of modeled 2025 revenue, while Asia Pacific is expected to record the fastest regional growth at 5.88%. The allocation follows the study’s defined buyer or provider-revenue scope.

Asia Pacific
Asia Pacific represented 44.0% of modeled 2025 market value. China hosts extensive betaine and epoxy manufacturing and new intermediate capacity. Regional performance also depends on local regulation, industrial investment and purchasing conditions.

Europe
Europe represented 23.0% of modeled 2025 market value. Specialty formulations and high-purity specifications sustain demand. Regional performance also depends on local regulation, industrial investment and purchasing conditions.

North America
North America represented 21.0% of modeled 2025 market value. Personal care, coating and water treatment buyers support a mature market. Regional performance also depends on local regulation, industrial investment and purchasing conditions.

Latin America
Latin America represented 7.0% of modeled 2025 market value. Brazilian and Mexican cleaning and personal care production expands. Regional performance also depends on local regulation, industrial investment and purchasing conditions.

Middle East and Africa
Middle East and Africa represented 5.0% of modeled 2025 market value. Industrial chemicals and water treatment provide emerging outlets. Regional performance also depends on local regulation, industrial investment and purchasing conditions.

Market Challenges

Input prices and possible overcapacity
Changes in acrylonitrile and dimethylamine costs can pressure margins. New Asian capacity could also exceed near-term demand, creating price competition, especially for producers that lack integrated feedstock or differentiated purity grades.

Handling and product-purity requirements
DMAPA is a hazardous industrial intermediate requiring careful handling. Residual amines in downstream betaines can create sensitization concerns, so cosmetics customers increasingly emphasize analytical control, specifications and supplier qualification.

Future Outlook
Asia Pacific should remain the main production and demand center, with surfactants anchoring volume and epoxy applications contributing above-average growth. Supplier positioning will depend on feedstock integration, reliable logistics, high-purity grades and the pace at which new capacity is absorbed.

Competitive Landscape
BASF and Eastman Chemical are identified as integrated DMAPA producers, while Zhangjiagang Feixiang Chemical and Zhejiang Xinhua Chemical participate in Chinese production. Huntsman is relevant to downstream amine chemistry. Solvay, Evonik and Kao are better described as converters or customers for DMAPA-based surfactants rather than direct merchant DMAPA producers. No credible company-specific DMAPA revenue ranking is available.

Key Players
BASF; Eastman Chemical; Zhangjiagang Feixiang Chemical; Zhejiang Xinhua Chemical; Huntsman (downstream derivatives); Solvay (surfactants); Evonik (surfactants); Kao (surfactants)

Recent Developments

Oct. 16, 2025: BASF said the July start-up of expanded DMAPA production in Nanjing nearly doubled the site’s annual capacity and raised BASF’s global DMAPA capacity by more than 20% to approximately 85,000 metric tons.July 2025: As part of the same Nanjing project, BASF expanded polyetheramine capacity by about 25%. This is a related amine-chain investment, not an additional DMAPA plant.

Report Coverage
The study provides market estimates for 2025 and 2035, a 2026 interim estimate, analysis of the defined product and service scope, segment and geographic revenue shares, demand drivers, technology changes, competitive roles, constraints and recent dated developments. The reported CAGR and regional shares are based on Credence Research’s market model. Company announcements are contextual evidence and should not be interpreted as independent verification of the forecast.

Read the complete report and request a sample: https://www.credenceresearch.com/report/dimethylaminopropylamine-market 

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About Us
Credence Research Inc. is a global market intelligence and consulting firm founded in 2015. It provides quantitative market research, competitive intelligence and strategic advisory services to businesses, investors and other organizations. Its research draws on primary and secondary information, industry interviews and structured market models.

The firm analyzes market size, growth drivers, segmentation, regional opportunities, supply chains and competitive positioning across industrial, technology, energy, health care and consumer markets. Its studies help clients evaluate strategic and investment decisions with documented assumptions and industry context.

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Misty Ventures and Aplicata Technologies Announce Strategic Partnership to Pursue Canadian Defence Opportunities

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Together, Aplicata and Misty Ventures will leverage their respective expertise, networks, and resources to support the commercialization of innovative technologies and help bring impactful solutions to government and public-sector markets.

SASKATOON, SK, Oct. 23, 2026 /PRNewswire-PRWeb/ — Misty Ventures, the economic development arm of Mistawasis Nêhiyawak, and Aplicata Technologies, a trusted leader in high-performance computing platforms for mission-critical defence applications, today announced they have signed a Memorandum of Understanding to explore a strategic partnership focused on pursuing and strengthening Canadian defence market opportunities.

“Partnering with Misty Ventures allows us to bring our capabilities to the Canadian defence market in a way that also creates lasting economic benefit for Mistawasis Nêhiyawak. We’re excited about the opportunity to build something meaningful together.” Mohammad Darwish, CEO of Aplicata.

Aplicata and Misty Ventures have agreed to form a Saskatchewan-based joint venture to develop and commercialize electronic warfare (EW), signals intelligence (SIGINT) and intelligence, surveillance and reconnaissance (ISR) technologies for Canadian defence.

The joint venture will deliver solutions across uncrewed aerial vehicles, aircraft, ground vehicles and naval vessels, providing the Canadian Armed Forces with a decisive operational advantage through advanced, mission-critical technology. It brings together Aplicata’s engineering, manufacturing and market expertise with Misty Ventures’ business development experience and its access to skilled talent and defence markets.

A guiding principle of the partnership is to build upon the strong business acumen, entrepreneurial capacity, and strategic vision of Mistawasis Nêhiyawak and its affiliated Indigenous communities. Through this partnership, Mistawasis Nêhiyawak seeks to leverage these strengths to contribute meaningfully to Canada’s defence priorities, supporting the development of sovereign capabilities, domestic innovation, and resilient Canadian supply chains. In addition to technology licensing, Aplicata intends to support the partnership through advanced knowledge and skills development, enabling Mistawasis Nêhiyawak to further expand its participation in Canada’s defence and security ecosystem and create lasting economic opportunity.

“This partnership reflects our commitment to building long-term, sustainable economic opportunities for Mistawasis Nêhiyawak and our broader community,” said Robert Daniels, Chief Executive Officer of Misty Ventures. “By combining our experience and market reach with Aplicata’s proven technology and market expertise, we believe we can create a defence sector business that delivers real value for Canada while creating meaningful opportunities for our people.”

“Aplicata brings a long history of innovation in advanced technologies for defence,” said Mohammad Darwish, Chief Executive Officer of Aplicata Technologies. “Partnering with Misty Ventures allows us to bring our capabilities to the Canadian defence market in a way that also creates lasting economic benefit for Mistawasis Nêhiyawak. We’re excited about the opportunity to build something meaningful together.”

About Misty Ventures

Since 2015, Misty Ventures has been the economic development entity of Mistawasis Nêhiyawak, growing through strategic partnerships across Saskatchewan’s construction, mining, oil and gas, and renewable energy sectors. Misty Ventures continues to pursue investments and collaborations aligned with its vision, mission, and values.

www.mistyventures.ca

About Aplicata Technologies

Aplicata is a trusted leader in high-performance computing platforms for mission-critical defence applications. We create innovative solutions engineered for performance and reliability, delivering results our customers can depend on. Rooted in a culture of collaboration and driven by a shared sense of purpose, we serve government and commercial organizations alike, pushing the boundaries of technology to enable new possibilities.

www.aplicata.com

Media Contact

Media Relations, Aplicata Technologies, 1 (844) 250-6300, media@aplicata.com, www.aplicata.com

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SOURCE Aplicata Technologies

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