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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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DCCM Acquires Dynamic Solutions, LLC Expanding Water Resources Expertise

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DCCM has acquired Dynamic Solutions, LLC, a consulting firm recognized for advanced water resources, hydraulic, and hydrodynamic modeling. Dynamic Solutions expands DCCM’s technical capabilities in water and environmental modeling to better serve complex infrastructure and water-related client needs. Dynamic Solutions, founded in 1996 and offering services including watershed/hydrology studies, sediment transport, water quality, and ecological modeling, will continue operating with its existing leadership and team.

HOUSTON, May 4, 2026 /PRNewswire-PRWeb/ — DCCM, a national provider of design, consulting, and program and construction management professional services, is pleased to announce the acquisition of Dynamic Solutions, LLC, a specialized consulting firm known for advanced water resources, hydraulic, and hydrodynamic modeling.

“This acquisition expands DCCM’s technical capabilities in advanced water and environmental modeling while strengthening our ability to serve clients facing complex infrastructure and water-related challenges,” said James F. (Jim) Thompson, PE, Chairman and CEO of DCCM.

Founded in 1996, Dynamic Solutions is nationally recognized for its expertise in hydraulic and hydrodynamic modeling, watershed and hydrology studies, sediment transport, water quality, and ecological modeling. The firm supports clients across federal, state, and local markets, as well as select technical advisory engagements, delivering analytical solutions for complex water and environmental challenges.

Dynamic Solutions operates from offices in Knoxville, Tennessee; Baton Rouge, Louisiana; Columbus, Mississippi; and Hamilton, Ohio, supporting projects nationwide.

“This acquisition expands DCCM’s technical capabilities in advanced water and environmental modeling while strengthening our ability to serve clients facing complex infrastructure and water-related challenges,” said James F. (Jim) Thompson, PE, Chairman and CEO of DCCM. “Dynamic Solutions brings a depth of expertise and a reputation for technical excellence that aligns well with our long-term growth strategy.”

Dynamic Solutions will continue to operate with its existing leadership and team, maintaining its specialized service offerings and longstanding client relationships.

“Joining DCCM allows us to build on the outstanding work our team is known for while gaining access to broader resources and a national platform,” said Julie Wallen of Dynamic Solutions. “We look forward to continuing to deliver the same high level of service to our clients as part of the DCCM organization.”

About Dynamic Solutions, LLC

Dynamic Solutions, LLC is a consulting firm specializing in hydraulic and hydrodynamic modeling, watershed and hydrology studies, sediment transport, water quality, and ecological modeling. Founded in 1996, the firm serves public sector and institutional clients across the United States.

About DCCM

DCCM is a provider of design, consulting, and program and construction management professional services focused on infrastructure across the public and private sectors. Through a national platform, DCCM serves a diverse range of end markets.

DCCM is a portfolio company of Court Square Capital Partners.

For more information, please visit www.dccm.com.

Media Contact

Jessica Steglich, DCCM, 1 7138749162, marketing@dccm.com, dccm.com

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Modine to Participate in Upcoming Oppenheimer Virtual Conference on May 5, 2026

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RACINE, Wis., May 4, 2026 /PRNewswire/ — Modine (NYSE: MOD), a diversified global leader in thermal management technology and solutions, announced today that it will participate in the Oppenheimer 21st Annual Industrial Growth Conference on Tuesday, May 5, 2026.

Neil D. Brinker, Modine President and Chief Executive Officer, and Michael B. (Mick) Lucareli, Executive Vice President and Chief Financial Officer, will participate in a virtual fireside chat during the conference on Tuesday, May 5, 2026, at 1:30 p.m. Eastern time (12:30 p.m. Central Time).

Live webcasts of the event will be available in the Investor Relations section of Modine’s website www.modine.com. Recordings of the events will be available for 365 days following the webcast.

About Modine
For more than 100 years, Modine has solved the toughest thermal management challenges for mission-critical applications. Our purpose of Engineering a Cleaner, Healthier World™ means we are always evolving our portfolio of technologies to provide the latest heating, cooling, and ventilation solutions. Through the hard work of more than 11,000 employees worldwide, our Climate Solutions, Data Centers, and Performance Technologies segments advance our purpose with systems that improve air quality, reduce energy and water consumption, lower harmful emissions, and enable the transition to a more sustainable future. Modine is a global company headquartered in Racine, Wisconsin (U.S.), with operations in North America, South America, Europe, and Asia. For more information about Modine, visit modine.com.

Investor Contact
Kathleen Powers
(262) 636-1687
kathleen.t.powers@modine.com

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Blaize and Winmate Sign Strategic Partnership Agreement to Bring AI to Rugged Systems for Defense and Critical Infrastructure

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Joint solutions combine Blaize’s energy-efficient and industrial-grade AI chips with Winmate’s rugged platforms – including drones, handhelds, vehicle-mounted units, and embedded edge devices used by defense, border security, maritime, and healthcare operators.

TAIPEI and EL DORADO HILLS, Calif., May 4, 2026 /PRNewswire/ — Blaize Holdings, Inc. (Nasdaq: BZAI, Nasdaq: BZAIW) (“Blaize,” the “Company,” “we,” “our,” or “us”), and Winmate Inc., a publicly traded company in Taiwan, today announced they have signed a Strategic Partnership Agreement (“Agreement”) with an intent to close approximately $15 million in business during the first year. The two companies will integrate Blaize’s AI chips into Winmate’s rugged systems, including drones, handhelds, vehicle-mounted units, and embedded devices that have to keep working in the field, often in places where regular hardware can’t survive.

The companies expect the Agreement to be the start of a much larger, multi-year relationship.

Why this partnership matters

Most AI today runs in large data centers rather than at the edge, where decisions must be made in real time. This model is often impractical for soldiers at remote posts, Coast Guard crew at sea, or medics in field clinics. They often don’t have a reliable network connection, and even when they do, they can’t afford to wait for an application to respond from halfway across the globe.

That’s the gap Blaize and Winmate intend to address through this partnership. Blaize’s chips were designed to industrial grade specifications and run AI directly on the device, with no cloud dependency. Winmate’s systems are purpose-built to perform in extreme environments, including heat, cold, dust, vibration, and rough handling. Together, they deliver real-time AI capabilities exactly where it’s needed, whether in drones, field units, the patrol vehicles, or diagnostic devices.

A fast-growing market

Demand for on-device AI is accelerating. According to BCC Research[1], the global edge AI market is projected to grow from $11.8 billion in 2025 to $56.8 billion by 2030, a 36.9% compound annual growth rate. Defense agencies, governments, hospitals, ports, and critical infrastructure operators all demand AI that can run securely on their equipment, without sending sensitive data over public networks.

From the leaders

“Our customers can’t wait, and they often can’t rely on the cloud. They need AI that runs where the work happens. Winmate makes some of the most capable rugged systems in the industry, and our chips are designed to run AI inside exactly those kinds of devices. This partnership turns a years-long vision into a practical, deployable answer for defense and critical infrastructure operators,” said Dinakar Munagala, CEO of Blaize, Inc.

“Our platforms are deployed on naval vessels, in border outposts, on industrial sites, and in disaster zones – environments where most hardware fails. With Blaize, we can now deliver those same systems with on-device AI built in, giving customers real-time intelligence wherever they operate,” said Ken Lu, Chairman and CEO of Winmate Inc.

Target applications

Border security and surveillance: Real-time threat detection and perimeter monitoringMobile command and control: On-site intelligence and situational awareness for field teamsDrones and unmanned systems: Autonomous navigation and mission execution for UAVs and ground vehiclesCritical infrastructure: Continuous monitoring and predictive analytics for power, ports, and transportationMaritime domain awareness: Vessel tracking and anomaly detection at seaField healthcare: Portable diagnostics and decision support in remote and disaster environments

Deal at a glance

First-year revenue: the parties intend to work in good faith to close approximately $15 million in business, expected to scale meaningfully in subsequent yearsTerm: Three-year initial term, with automatic renewalNext steps: Joint engineering, sales, and marketing execution to bring integrated systems to market, with additional opportunities to be added through follow-on programs

[1] BCC Research, “Global Edge AI Market,” October 2025

About Blaize, Inc.

Blaize delivers a programmable AI platform, purpose-built for AI inference workloads in real-world environments. Its Hybrid AI architecture combines the Blaize GSP (Graph Streaming Processor) with GPU-based infrastructure, enabling AI inference workloads to run across edge, cloud, and data center. Blaize solutions support computer vision, multimodal AI, and sensor-driven applications across smart cities, industrial automation, telecommunications, retail, logistics, and defense. Blaize is headquartered in El Dorado Hills, California, with a global presence across North America, Europe, the Middle East, and Asia. Visit www.blaize.com or follow us on LinkedIn @blaizeinc.

About Winmate Inc.

Winmate Inc. is a publicly traded global leader in rugged computing systems, delivering industrial-grade platforms – including handhelds, tablets, vehicle-mounted units, panel PCs, and embedded modules – for demanding environments across defense, transportation, energy, healthcare, and industrial markets.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”) that are based on beliefs and assumptions and on information currently available to Blaize, including expectations and scope of customer contracts, including the Strategic Partnership Agreement with Winmate, the potential value and the timing of revenue pursuant to such contracts, preliminary estimates of results of operations and guidance on results for future periods, the industry in which Blaize operates, market opportunities, and product offerings. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to those factors discussed under the heading “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 24, 2026, and other documents filed by Blaize from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Blaize assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. Blaize does not give any assurance that it will achieve its expectations.

Blaize Contact

press@blaize.com
www.blaize.com 

Investors

ir@blaize.com
www.blaize.com 

Winmate Inc.

Liu, Chih-Yuan
Tel: +886-2-8511-0288
Email: spokesman1@winmate.com.tw
https://www.winmate.com/ 

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