Anterix (ATEX) 10-Q 14 Feb 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Dec. 31, 2023	Feb. 12, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-36827
Entity Registrant Name	Anterix Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	33-0745043
Entity Address, Address Line One	3 Garret Mountain Plaza
Entity Address, Address Line Two	Suite 401
Entity Address, City or Town	Woodland Park
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07424
City Area Code	973
Local Phone Number	771-0300
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	ATEX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		18,519,884
Entity Central Index Key	0001304492
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
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	0
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
Current liabilities
Accounts payable and accrued expenses	8,212	6,624
Due to related parties	0	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	0
Deferred revenue	100,897	57,990
Deferred gain on sale of intangible assets	4,911	0
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	0	0
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

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Mar. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	18,554,424	18,921,999
Common stock, shares outstanding (in shares)	18,554,424	18,921,999

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
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)	0	(7,364)	0
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 loss per common share basic (in dollars per share)	$ 0.02	$ (0.42)	$ 0.02	$ (1.69)
Net loss per common share diluted (in dollars per share)	$ 0.02	$ (0.42)	$ 0.01	$ (1.69)
Weighted-average common shares used to compute basic net loss per share (in shares)	18,704,400	18,930,594	18,858,472	18,834,991
Weighted-average common shares used to compute diluted net loss per share (in shares)	18,916,246	18,930,594	19,082,867	18,834,991

Consolidated Statements of Stoc

Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common ‎stock	Additional ‎paid-in ‎capital	Accumulated ‎deficit
Beginning balance (in shares) at Mar. 31, 2022		18,378,000
Beginning balance at Mar. 31, 2022	$ 186,298	$ 2	$ 500,125	$ (313,829)
Equity based compensation	13,411		13,411
Restricted shares issued (in shares)		203,000
Stock option exercises (in shares)		37,000
Stock option exercises	872		872
Motorola shares (in shares)		500,000
Shares withheld for taxes (in shares)		(33,000)
Shares withheld for taxes	(1,474)		(1,474)
Retirement of common stock (in shares)		(216,000)
Retirement of common stock	(8,223)			(8,223)
Net income (loss)	(31,859)			(31,859)
Ending balance (in shares) at Dec. 31, 2022		18,869,000
Ending balance at Dec. 31, 2022	159,025	$ 2	512,934	(353,911)
Beginning balance (in shares) at Sep. 30, 2022		18,960,000
Beginning balance at Sep. 30, 2022	166,089	$ 2	508,480	(342,393)
Equity based compensation	4,592		4,592
Restricted shares issued (in shares)		18,000
Shares withheld for taxes (in shares)		(3,000)
Shares withheld for taxes	(138)		(138)
Retirement of common stock (in shares)		(106,000)
Retirement of common stock	(3,498)			(3,498)
Net income (loss)	(8,020)			(8,020)
Ending balance (in shares) at Dec. 31, 2022		18,869,000
Ending balance at Dec. 31, 2022	159,025	$ 2	512,934	(353,911)
Beginning balance (in shares) at Mar. 31, 2023		18,922,000
Beginning balance at Mar. 31, 2023	179,793	$ 2	518,160	(338,369)
Equity based compensation	12,024		12,024
Restricted shares issued (in shares)		229,000
Stock option exercises	7		7
Shares withheld for taxes (in shares)		(34,000)
Shares withheld for taxes	(1,137)		(1,137)
Retirement of common stock (in shares)		(563,000)
Retirement of common stock	(18,706)			(18,706)
Net income (loss)	283			283
Ending balance (in shares) at Dec. 31, 2023		18,554,000
Ending balance at Dec. 31, 2023	172,264	$ 2	529,054	(356,792)
Beginning balance (in shares) at Sep. 30, 2023		18,768,000
Beginning balance at Sep. 30, 2023	176,101	$ 2	525,248	(349,149)
Equity based compensation	3,921		3,921
Restricted shares issued (in shares)		19,000
Shares withheld for taxes (in shares)		(3,000)
Shares withheld for taxes	(115)		(115)
Retirement of common stock (in shares)		(230,000)
Retirement of common stock	(7,971)			(7,971)
Net income (loss)	328			328
Ending balance (in shares) at Dec. 31, 2023		18,554,000
Ending balance at Dec. 31, 2023	$ 172,264	$ 2	$ 529,054	$ (356,792)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 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			653	1,107
Non-cash compensation expense attributable to stock awards			12,024	13,411
Deferred income taxes			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)	0	(7,364)	0
Loss on disposal of long-lived assets, net	3	(21)	39	1
Changes in operating assets and liabilities
Prepaid expenses and other assets			322	666
Right of use assets			(1,258)	480
Accounts payable and accrued expenses			1,588	43
Due to related parties			(533)	0
Operating lease liabilities			941	(747)
Contingent liability			15,000	249
Deferred revenue			46,301	6,689
Net cash provided by (used in) operating activities			35,853	(18,676)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of intangible assets, including refundable deposits			(14,809)	(19,069)
Proceeds from sale of spectrum			25,427	0
Purchases of equipment			(267)	(1,543)
Net cash provided by (used in) investing activities			10,351	(20,612)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from stock option exercises			7	872
Repurchase of common stock			(18,706)	(8,223)
Payments of withholding tax on net issuance of restricted stock			(1,137)	(1,474)
Net cash used in financing activities			(19,836)	(8,825)
Net change in cash and cash equivalents and restricted cash			26,368	(48,113)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Cash and cash equivalents and restricted cash at beginning of the period			43,182	105,624
Cash and cash equivalents and restricted cash at end of the period	69,550	57,511	69,550	57,511
Cash paid during the period:
Taxes paid			1	12
Non-cash investing activity:
Network equipment provided in exchange for wireless licenses			616	30
Deferred gain on sale of intangible assets	4,911	0	4,911	0
Derecognition of contingent liability related to sale of intangible assets			19,249	0
Reconciliation of Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	62,033	57,511	62,033	57,511
Escrow deposits	7,517	0	7,517	0
Total cash and cash equivalents and restricted cash	$ 69,550	$ 57,511	$ 69,550	$ 57,511

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation Anterix Inc. (the “Company”) is a wireless communications company focused on commercializing its spectrum assets to enable its targeted utility and critical infrastructure customers to deploy private broadband networks and on offering innovative broadband solutions to the same target customers. The Company is the largest holder of licensed spectrum in the 900 MHz band (896 - 901 / 935 - 940 MHz) with nationwide coverage throughout the contiguous United States, Hawaii, Alaska and Puerto Rico. On May 13, 2020, the Federal Communications Commission (the “FCC”) approved the Report and Order (the “Report and Order”) 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. The Report and Order was published in the Federal Register on July 16, 2020, and became effective on August 17, 2020. The Company is now engaged in qualifying for and securing broadband licenses from the FCC. At the same time, the Company is pursuing opportunities to monetize the broadband spectrum it secures to its targeted utility and critical infrastructure customers. The Company is also expanding the benefits and solutions it offers to the same targeted customers. As part of the Company’s solution expansion, the Company launched an integrated platform to accelerate the scale benefits of combining, or networking together, individual private broadband networks to enhance utilities’ resiliency, reach and collaboration. The first commercial service on the platform, CatalyX, includes public network roaming management solution along with secure, remote SIM provisioning. CatalyX is a turnkey connectivity management solution that helps utilities gain economic and operational benefits leveraging commercial broadband during their transition to private LTE (“PLTE”) networks, extending coverage into gap areas or providing back-up connectivity for private networks. The Company has successfully led and completed initiatives in 3GPP to secure enhancements to the US 900 MHz spectrum to benefit its customers, including the designation of a new band, both for LTE and 5G, as well as a transition to 5G, which received worldwide wireless industry support. Business Developments TECO Agreement On November 22, 2023, the Company entered into an agreement with Tampa Electric Company (“TECO”) to provide TECO the use of the Company’s 900 MHz Broadband Spectrum for a term of 20 years throughout TECO’s service territory in West Central Florida (the “TECO Agreement”). The TECO Agreement also provides TECO an option to extend the agreement for two 10-year terms for additional payments. The TECO Agreement, which covers an approximately 2,000-square-mile service territory in West Central Florida, is expected to enable TECO to deploy a PLTE network providing critical broadband communications capabilities in support of its initiatives. The scheduled prepayments for the 20-year initial term of the TECO Agreement total $34.5 million, of which $6.9 million was received by the Company in December 2023. See Note 2 Revenue for further discussion on the TECO Agreement. LCRA Agreement In April 2023, the Company entered into an agreement with Lower Colorado River Authority (“LCRA”) to sell 900 MHz Broadband Spectrum covering 68 counties and more than 30 cities in LCRA’s wholesale electric, transmission, and water service area (the “LCRA Agreement”) for total payments of $30.0 million plus the contribution of select LCRA 900 MHz narrowband spectrum. The LCRA Agreement will support LCRA’s deployment of a PLTE network which will provide a host of capabilities including grid awareness, communications and operational intelligence that will enhance resilience and spur innovation at LCRA. The new licenses will enable LCRA to move from narrowband to next generation broadband and provide mission-critical data and voice services within LCRA and to more than 100 external customers such as electric cooperatives, schools and transit authorities across more than 73,000 square miles. Total consideration of $30.0 million is to be paid through fiscal year 2026 pursuant to the terms of the LCRA Agreement. During the quarter ended December 31, 2023, the Company received an initial $15.0 million payment, of which $7.5 million was deposited in an escrow account (refer to Note 3 Escrow Deposits for further discussion). See Note 10 Contingencies and Guaranty for further discussion on the LCRA Agreement. Xcel Energy Agreement In October 2022, the Company entered into an agreement with Xcel Energy Services Inc. (“Xcel Energy”) providing Xcel Energy dedicated long-term usage of the Company’s 900 MHz Broadband Spectrum for a term of 20 years throughout Xcel Energy’s service territory in eight states (the “Xcel Energy Agreement”) for a total of $80.0 million, of which $8.0 million was received by the Company in December 2022. In July 2023 and November 2023, the Company delivered the cleared 900 MHz Broadband Spectrum and the associated broadband licenses and received the full milestone payments of $21.2 million in each period. The revenue recognized for the three and nine months ended December 31, 2023, was approximately $0.7 million and $1.1 million, respectively. SDG&E Agreement In February 2021, the Company entered into an agreement with San Diego Gas & Electric Company, a subsidiary of Sempra Energy (“SDG&E”), to sell 900 MHz Broadband Spectrum throughout SDG&E’s California service territory, including San Diego and Imperial Counties and portions of Orange County (the “SDG&E Agreement”) for a total payment of $50.0 million. The total payment of $50.0 million is comprised of an initial payment of $20.0 million received in February 2021 and the remaining payments which are due as the Company delivers the relevant cleared 900 MHz Broadband Spectrum and the associated broadband licenses to SDG&E. During the quarter ended September 30, 2023, the Company transferred to SDG&E the San Diego County broadband license and received a milestone payment of $25.2 million net of delivery delay adjustments of $1.1 million. During the quarter ended December 31, 2023, the Company transferred to SDG&E the remainder of the cleared 900 MHz Broadband Spectrum and the associated broadband license related to Imperial County and received a milestone payment of $0.2 million. See Note 4 Intangible Assets for further discussion. 2023 Stock Plan On August 8, 2023, the Company adopted a new equity-based compensation plan known as the Anterix Inc. 2023 Stock Plan (the “2023 Stock Plan”). The 2023 Stock Plan permits the Company to grant equity compensation awards to employees, consultants and non-employee directors of the Company. See Note 8 Stockholders’ Equity for further discussion. 2023 Share Repurchase Program On September 21, 2023, the Board of Directors (the “Board”) authorized a new share repurchase program (the “2023 Share Repurchase Program”) pursuant to which the Company may repurchase up to $250.0 million of the Company’s common stock on or before September 21, 2026. See Note 8 Stockholders’ Equity for further discussion. Basis of Presentation and Use of Estimates The consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information. Pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”), certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted, these unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2023, filed with the SEC on June 14, 2023 (the “2023 Annual Report”). In the Company’s opinion all normal and recurring adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been included. The Company believes that the disclosures made in the unaudited consolidated interim financial statements are adequate to make the information not misleading. The results of operations for the interim periods presented are not necessarily indicative of the results for the year. The Company is also required to make certain estimates and assumptions that affect the reported amounts. These estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the financial statements in the applicable period. Accordingly, actual results could materially differ from those estimates. The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Recently Issued Accounting Pronouncements In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendment in Response to the SEC’s Disclosure Update and Simplification Initiative . The ASU incorporates several disclosure and presentation requirements currently residing in the SEC Regulations S-X and S-K. The amendments will be applied prospectively and are effective when the SEC removes the related requirements from Regulations S-X or S-K. Any amendments the SEC does not remove by June 30, 2027 will not be effective. As the Company is currently subject to the SEC requirements, this ASU is not expected to have a material impact on its consolidated financial statements or related disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which provides updates to qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. This update is effective for annual periods beginning after December 15, 2023, and interim periods within annual periods beginning after December 15, 2024. Early adoption is permitted. The Company has not yet determined the impact of this pronouncement on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which enhances transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid and to improve the effectiveness of income tax disclosures. This update is effective for annual periods beginning after December 15, 2024. The Company has not yet determined the impact of this pronouncement on its consolidated financial statements and related disclosures.

Revenue

Revenue	9 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following table provides information regarding the Company’s revenue for each of the services it provides pursuant to its spectrum revenue agreements for the three and nine months ended December 31, 2023 and 2022 (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Spectrum revenues 900 MHz Broadband Spectrum Revenue Ameren Corporation $ 152 $ 152 $ 456 $ 457 Evergy 274 244 822 308 Xcel Energy (1) 663 — 1,107 — Narrowband Spectrum Revenue Motorola 182 182 546 546 Total spectrum revenue (2) $ 1,271 $ 578 $ 2,931 $ 1,311 1. The Company commenced revenue recognition in connection with the delivery of cleared 900 MHz Broadband Spectrum and the associated broadband licenses to Xcel Energy during the three months ended September 2023. 2. Revenue recognized during the three and nine months ended December 31, 2023 and 2022 was included in deferred revenue at the beginning of the respective periods. Spectrum Revenue Agreements Refer to the Company’s 2023 Annual Report for a description of the Company’s spectrum revenue agreements entered into prior to March 31, 2023. The following reflects agreements entered into during the nine months ended December 31, 2023: On November 22, 2023, the Company entered into an agreement with Tampa Electric Company (“TECO”) to provide TECO the use of the Company’s 900 MHz Broadband Spectrum for a term of 20 years throughout TECO’s service territory in West Central Florida (the “TECO Agreement”). The TECO Agreement also provides TECO an option to extend the agreement for two 10-year terms for additional payments. The TECO Agreement, which covers an approximately 2,000-square-mile service territory in West Central Florida, is expected to enable TECO to deploy a PLTE network providing critical broadband communications capabilities in support of its initiatives. The scheduled prepayments for the 20-year initial terms of the TECO Agreement total $34.5 million, of which $6.9 million was received by the Company in December 2023. The remaining prepayments for the 20-year initial term are due by fiscal year 2026, per the terms of the TECO Agreement and as the Company delivers the relevant cleared 900 MHz Broadband Spectrum and the associated broadband licenses. The Company is working with incumbents to clear the 900 MHz Broadband Spectrum allocation in TECO service territories. The payments of prepaid fees under the TECO Agreement will be accounted for as deferred revenue on the Company’s Consolidated Balance Sheets. Revenue will be recognized over time as the performance obligations of clearing the 900 MHz Broadband Spectrum and the associated broadband licenses are delivered by respective county, over the contractual term of approximately 20 years. Capitalized contract costs The Company capitalizes incremental costs associated with obtaining a contract with a customer, which generally includes sales commissions. The Company’s capitalized contract costs consisted of the following activity during the three and nine months ended December 31, 2023 and 2022 (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Balance at the beginning of the period $ 884 $ 693 $ 870 $ 638 Additions 12 47 45 109 Amortization (13) (4) (32) (11) Balance at the end of the period 883 736 883 736 Less amount classified as current assets (1) (425) (347) (425) (347) Noncurrent assets (1) $ 458 $ 389 $ 458 $ 389 1. Current assets are recorded as prepaid expenses and other current assets and noncurrent assets are recorded as other assets on the Company’s Consolidated Balance Sheets. Contract liabilities Contract liabilities primarily relate to advanced consideration received from customers for spectrum services, for which revenue is recognized over time, as the services are performed. The Company’s contract liabilities consisted of the following activity during the three and nine months ended December 31, 2023 and 2022 (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Balance at the beginning of the period $ 80,265 $ 53,945 $ 60,759 $ 54,678 Additions (1) 28,066 8,000 49,232 8,000 Revenue recognized (1,271) (578) (2,931) (1,311) Balance at the end of the period 107,060 61,367 107,060 61,367 Less amount classified as current liabilities (2) (6,163) (2,656) (6,163) (2,656) Noncurrent liabilities (2) $ 100,897 $ 58,711 $ 100,897 $ 58,711 1. Represents milestone payments of received from customer contracts pursuant to the terms of the associated spectrum lease agreements. 2. Current liabilities and noncurrent liabilities are recorded as deferred revenue on the Company’s Consolidated Balance Sheets. Remaining Performance Obligations Revenue allocated to remaining performance obligations of the Company’s contracts represent contracted revenue that will be recognized in future periods. Total performance obligations include deferred revenue (i.e., contract liabilities) as well as amounts that will be invoiced and recognized in future periods. Revenue allocated to remaining performance obligations was $188.5 million as of December 31, 2023, which will be recognized ratably over the remaining contract terms up to 30 years.

Escrow Deposits

Escrow Deposits	9 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Escrow Deposits	Escrow Deposits Escrow deposits are considered restricted cash as the deposits are restricted from use until the terms of the escrow agreement are met. Escrow deposits are classified as current assets on the Company’s Consolidated Balance Sheets.

Intangible Assets

Intangible Assets	9 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Wireless licenses are considered indefinite-lived intangible assets. Indefinite-lived intangible assets are not subject to amortization but instead are tested for impairment annually, or more frequently if an event indicates that the asset might be impaired. There were no impairment charges related to the Company’s indefinite-lived intangible assets during the three and nine months ended December 31, 2023 and 2022. Intangible assets consist of the following activity for the nine months ended December 31, 2023 and 2022 (in thousands): 2023 2022 Balance at the beginning of period $ 202,044 $ 151,169 Acquisitions 11,042 9,159 Sale of intangible assets (32,402) — Exchanges – licenses received 41,250 13,107 Exchanges – licenses surrendered (8,215) (3,778) Balance at the end of period $ 213,719 $ 169,657 Purchases of intangible assets, including refundable deposits During the nine months ended December 31, 2023 and 2022, the Company entered into agreements with several third parties in multiple U.S. markets to acquire, retune or swap wireless licenses for cash consideration (“deals”) and made Anti-Windfall Payments to the US Treasury Department. The initial deposits to incumbents are recorded as prepaid expenses and other current assets on the Company’s Consolidated Balance Sheets and are refundable if the FCC does not approve the sale, retuning or swap of the spectrum. The initial deposits are transferred to other assets or intangible assets in the Company’s Consolidated Balance Sheets, as applicable, upon meeting the relevant deal milestones. The final payments related to closed retuning or swap deals are recorded as other assets on the Company’s Consolidated Balance Sheets. The final payments for license purchases or Anti-Windfall Payments are recorded as intangible assets on the Company’s Consolidated Balance Sheets. The purchases of intangible assets, including refundable deposits, consisted of the following activity during the nine months ended December 31, 2023 and 2022 (in thousands): 2023 2022 Refundable deposits $ 2,274 $ 5,317 Retuning cost and Swaps 1,493 4,593 Purchases and Anti-Windfall Payments 11,042 9,159 Total $ 14,809 $ 19,069 Broadband License Exchanges During the nine months ended December 31, 2023, the Company was granted by the FCC, broadband licenses for 24 counties. The Company recorded the new broadband licenses at their estimated accounting cost basis of approximately $41.3 million. In connection with receiving the broadband licenses, the Company disposed of $8.2 million, related to the value ascribed to the narrowband licenses it relinquished to the FCC for the same 24 counties. The total carrying value of narrowband licenses included the cost to acquire the original narrowband licenses, Anti-Windfall Payments paid to cover the shortfall in each county and the clearing costs. As a result of the exchange of narrowband licenses for broadband licenses, the Company recorded a gain on disposal of intangible assets of $13.7 million and $33.0 million, for the three and nine months ended December 31, 2023, respectively. During the nine months ended December 31, 2022, the Company was granted by the FCC, broadband licenses for 70 counties. The Company recorded the new broadband licenses at their estimated accounting cost basis of approximately $13.1 million. In connection with receiving the broadband licenses, the Company disposed of $3.8 million, related to the value ascribed to the narrowband licenses it relinquished to the FCC for the same 70 counties. The total carrying value of narrowband licenses included the cost to acquire the original narrowband licenses, Anti-Windfall Payments paid to cover the shortfall in each county and the clearing costs. As a result of the exchange of narrowband licenses for broadband licenses, the Company recorded a gain on disposal of intangible assets of $5.8 million and $9.3 million, for the three and nine months ended December 31, 2022, respectively. Broadband License Sale During the quarter ended September 30, 2023, the Company transferred to SDG&E the San Diego County broadband license for total cumulative payments of $44.0 million net of delivery delay adjustments of $1.1 million. As a result, the Company recognized a reduction in intangible assets of $31.8 million and recorded a $7.3 million gain on sale of intangible assets on the Company’s Consolidated Statements of Operations. During the quarter ended December 31, 2023, the Company transferred to SDG&E the remainder of the cleared 900 MHz Broadband Spectrum and the associated broadband license to Imperial County for total cumulative payments of $0.7 million. As a result, the Company recognized a reduction in intangible assets of $0.6 million and recorded a $32 thousand gain on sale of intangible assets on the Company’s Consolidated Statements of Operations. As part of the SDG&E Agreement, SDG&E has an option to pursue additional spectrum with the Company. In accordance with ASC 606, the Company recorded a $4.9 million deferred gain on sale of intangible assets on the Company’s Consolidated Balance Sheets as of December 31, 2023, related to this option, which expires in September 2028.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Refer to the Company’s 2023 Annual Report for a more complete description of the nature of its related party transactions prior to March 31, 2023. The following reflects the related party activity during the three and nine months ended December 31, 2023 and 2022. In connection with the transfer of its TeamConnect business and support for its pdvConnect business, the Company entered into a memorandum of understanding (“MOU”) with the principals of Goosetown on December 31, 2018. Under the MOU, the Company agreed to assign the intellectual property rights to its pdvConnect application to TeamConnect LLC (“LLC”), a new entity formed by the principals of Goosetown, in exchange for a 19.5% ownership interest in the LLC, effective April 30, 2019. The Company was obligated to pay the LLC a monthly service fee for a 24-month period ending on January 7, 2021 for its assumption of the Company’s support obligations under the A BEEP and Goosetown Agreements. The Company was also obligated to pay the LLC a certain portion of the billed revenue received by the Company from pdvConnect customers for a 48-month period. On February 22, 2023, the Company amended the LLC agreement to withdraw as a member of the LLC for no consideration and did not incur payments during the three and nine months ended December 31, 2023. For the three and nine months ended December 31, 2022, the Company incurred payments of $15,000 and $45,000 to the parties associated with the transferred business. As of December 31, 2023 and March 31, 2023, the Company did not have outstanding liabilities to the related parties associated with the transferred business.

Leases

Leases	9 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases All the leases in which the Company is the lessee are comprised of corporate office space and tower space. The Company is obligated under certain lease agreements for office space with lease terms expiring on various dates from October 31, 2024 through January 31, 2029 which includes lease extensions for its corporate headquarters ranging from three Substantially all of the Company’s leases are classified as operating leases. Operating lease agreements are required to be recognized on the Company’s Consolidated Balance Sheet as right of use (“ROU”) assets and corresponding lease liabilities. ROU assets include any prepaid lease payments and exclude any lease incentives and initial direct costs incurred. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The lease terms may include options to extend or terminate the lease if it is reasonably certain that the Company will exercise that option. Weighted-average remaining lease term and incremental borrowing rate for the Company’s operating leases are as follows: Nine months ended December 31, 2023 2022 Weighted average term - operating lease liabilities 3.50 years 3.01 years Weighted average incremental borrowing rate - operating lease liabilities 9% 12% Total lease cost amounted to approximately $0.5 million and $1.5 million, respectively, for the three and nine months ended December 31, 2023 and approximately $0.5 million and $1.4 million, respectively, for the three and nine months ended December 31, 2022. Total lease cost is included in general and administrative expenses on the Company’s Consolidated Statements of Operations. The following table presents total lease cost for the three and nine months ended December 31, 2023 and 2022 (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Lease cost Operating lease cost (cost resulting from lease payments) $ 479 $ 461 $ 1,457 $ 1,355 Short term lease cost — — — 7 Total lease cost $ 479 $ 461 $ 1,457 $ 1,362 The following table presents supplemental cash flow and non-cash activity information for the nine months ended December 31, 2023 and 2022 (in thousands): Nine months ended December 31, 2023 2022 Cash paid activity: Operating lease - operating cash flows (fixed payments) $ 1,732 $ 1,634 Operating lease - operating cash flows (liability reduction) $ 1,373 $ 747 Non-cash activity: Right of use assets obtained in exchange for new operating lease liabilities $ 439 $ 165 The following table presents supplemental balance sheet information as of December 31, 2023 and March 31, 2023 (in thousands): December 31, 2023 March 31, 2023 Non-current assets - right of use assets, net $ 4,629 $ 3,371 Current liabilities - operating lease liabilities $ 1,888 $ 1,725 Non-current liabilities - operating lease liabilities $ 3,700 $ 2,922 Future minimum payments under existing non-cancelable leases for office and tower spaces (exclusive of real estate tax, utilities, maintenance and other costs borne by the Company) for the remaining terms of the leases following the nine months ended December 31, 2023, are as follows (in thousands): Fiscal Year Operating Leases 2024 (excluding the nine months ended December 31, 2023) $ 655 2025 2,156 2026 1,409 2027 994 2028 645 After 2028 522 Total future minimum lease payments 6,381 Amount representing interest (793) Present value of net future minimum lease payments $ 5,588

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company used a discrete effective tax rate method to calculate taxes for the three and nine months ended December 31, 2023 and 2022, which were a result of its inability to use some portion of its federal and state net operating losses (“NOLs”) carryforwards against the deferred tax liability created by the amortization of indefinite-lived intangible assets and the change in the state effective tax rate. The Company determined that applying an estimate of the annual effective tax rate would not provide a reasonable estimate as small changes in estimated “ordinary” loss could result in significant changes in the estimated annual effective tax rate. Accordingly, for the three and nine months ended December 31, 2023, the Company recorded a total tax expense of $1.3 million and $1.7 million, respectively. For the three and nine months ended December 31, 2022, the Company recorded a total tax expense of $0.2 million and $0.6 million, respectively. The Company’s NOL generated after March 31, 2018 may be used as an indefinite-lived asset to offset its deferred tax liability but are limited to 80% of future taxable income. The deferred tax liabilities as of December 31, 2023 are approximately $3.1 million for federal and $3.2 million for state. The deferred tax liabilities as of March 31, 2023 are approximately $2.7 million for federal and $2.7 million for state.

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Stockholders’ Equity	Stockholders’ Equity On August 8, 2023 (the “Effective Date”), the Company adopted a new equity-based compensation plan known as the 2023 Stock Plan. The 2023 Stock Plan permits the Company to grant equity compensation awards to employees, consultants and non-employee directors of the Company. As of the Effective Date, no additional awards may be granted under the Anterix Inc. 2014 Stock Plan (the “2014 Stock Plan”). The 2023 Stock Plan authorizes 250,000 shares of common stock of the Company (“Shares”) for grant. Additionally, Shares remaining for grant under the 2014 Stock Plan immediately prior to the Effective Date, Shares subject to outstanding stock awards granted under the 2014 Stock Plan that, following the Effective Date, expire or are terminated or cancelled without having been exercised or settled in full, and Shares acquired pursuant to an award subject to forfeiture or repurchase that are forfeited or repurchased by the Company for an amount not greater than the recipient’s purchase price, are issuable under the 2023 Stock Plan. As of December 31, 2023, 579,973 shares are available for future issuance, including 388,151 shares that were remaining under the 2014 Stock Plan and up to 181,887 shares which may be granted upon meeting certain performance levels above 100% for performance stock unit awards. During the nine months ended December 31, 2023 and the year ended March 31, 2023, a total of 194,611 and 260,370 shares, respectively, were issued in connection with the vesting, conversion and or exercise of grants under the Company’s 2014 and 2023 Stock Plan. Share Repurchase Program In September 2021, the Board authorized a share repurchase program (the “2021 Share Repurchase Program”) pursuant to which the Company may repurchase up to $50.0 million of the Company’s common stock on or before September 29, 2023. The Company repurchased and subsequently retired a total of $33.9 million of the Company’s common stock under the 2021 Share Repurchase Program, including $10.7 million during fiscal year 2024. On September 21, 2023, the Board authorized the new 2023 Share Repurchase Program pursuant to which the Company may repurchase up to $250.0 million of the Company’s common stock on or before September 21, 2026. The Company repurchased and subsequently retired a total of $8.0 million of the Company’s common stock under the 2023 Share Repurchase Program during fiscal year 2024. The Company may repurchase shares of its common stock via the open market and/or privately negotiated transactions. Repurchases will be made in accordance with applicable securities laws and may be effected pursuant to Rule 10b5-1 trading plans. The manner, timing and amount of any share repurchases will be determined by the Company based on a variety of factors, including proceeds from customer contracts, the timing of which is unpredictable, as well as general business and market conditions, the Company’s capital position, and other strategic considerations. The 2023 Share Repurchase Program does not obligate the Company to repurchase any particular amount of its common stock. The Inflation Reduction Act of 2022, which was enacted into law on August 16, 2022, imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. Excise tax accrued for the three and nine months ended December 31, 2023 was approximately $74 thousand and $118 thousand, respectively. The following table presents the share repurchase activity for the three and nine months ended December 31, 2023 and 2022 (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. Motorola Investment In September 2014, Motorola Solutions, Inc. (“Motorola”) invested $10.0 million to purchase 500,000 Class B Units of the Company’s subsidiary, PDV Spectrum Holding Company, LLC (at a price equal to $20.00 per unit). The Company owns 100% of the Class A Units in the Subsidiary. Motorola had the right at any time to convert its 500,000 Class B Units into 500,000 shares of the Company’s common stock and in May 2022, Motorola exercised such right to convert its 500,000 Class B Units into 500,000 shares of the Company’s common stock.

Net Income (Loss) Per Share of

Net Income (Loss) Per Share of Common Stock	9 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Net Income (Loss) Per Share of Common Stock	Net Income (Loss) Per Share of Common Stock Basic net income (loss) per common share is calculated by dividing the net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for potentially dilutive securities. For purposes of the diluted net income (loss) per share calculation, stock options and restricted stock units and awards are considered to be potentially dilutive securities. Diluted earnings per share was computed using the treasury stock method. The following table reconciles net income (loss) and weighted-average common shares used to compute basic and diluted net income (loss) per share: Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Net income (loss): $ 328 $ (8,020) $ 283 $ (31,859) Weighted-average common shares: Basic weighted-average shares 18,704,400 18,930,594 18,858,472 18,834,991 Add: dilutive effect of stock options and restricted stock units 211,846 — 224,395 — Diluted weighted-average common shares 18,916,246 18,930,594 19,082,867 18,834,991 For the three and nine months ended December 31, 2023, there were 1,129,994 and 1,048,902 stock options and restricted stock units outstanding, excluded from the calculation of diluted weighted-average shares because the effect was anti-dilutive. For the three and nine months ended December 31, 2022, there were 201,100 and 381,432 potentially dilutive stock options and restricted stock units outstanding, respectively, excluded from the calculation of diluted weighted-average shares as their effects are anti-dilutive because the Company reported a net loss for the three and nine months ended December 31, 2022, respectively.

Contingencies and Guaranty

Contingencies and Guaranty	9 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Guaranty	Contingencies and Guaranty Contingent Liabilities SDG&E Refund Obligations In February 2021, the Company entered into an agreement with SDG&E, a subsidiary of Sempra Energy to sell 900 MHz Broadband Spectrum throughout SDG&E’s California service territory, the SDG&E Agreement, for a total payment of $50.0 million. The total payment of $50.0 million is comprised of an initial payment of $20.0 million received in February 2021 and the remaining payments which are due as the Company delivers the relevant cleared 900 MHz Broadband Spectrum and the associated broadband licenses to SDG&E. As the Company is required to refund payments it has received from SDG&E in the event of termination or non-delivery of the specific county’s full 900 MHz Broadband Spectrum, it recorded the payments as contingent liability on the Company’s Consolidated Balance Sheets. A reduction in the contingent liability and a gain or loss on the sale of spectrum will be recognized for each county once the Company delivers the full cleared 900 MHz Broadband Spectrum and the associated broadband license(s) to SDG&E. In September 2022, the Company transferred to SDG&E 1.4 x 1.4 cleared 900 MHz Broadband Spectrum and the associated broadband license related to Imperial County and received a milestone payment of $0.2 million. In September 2023, the Company transferred to SDG&E the San Diego County broadband license and received a milestone payment of $25.2 million net of delivery delay adjustments of $1.1 million. In December 2023, the Company transferred to SDG&E the remainder of the cleared 900 MHz Broadband Spectrum and the associated broadband license related to Imperial County and received a milestone payment of $0.2 million. This resulted in the recognition of a gain on the sale of spectrum and derecognition of the contingent liability associated with San Diego County and Imperial County. See Note 4 Intangible Assets for further discussion on the sale of intangible assets. Subsequent to the derecognition of the contingent liability related to the delivery of San Diego County and Imperial County licenses, the remaining contingent liability related to SDG&E of $1.0 million for Orange County was classified as a short-term liability due to the expected timing of delivery. LCRA Refund Obligation In April 2023, the Company entered into the LCRA Agreement for a total payment of $30.0 million, to be paid through fiscal year 2026 pursuant to the terms of the agreement. During the quarter ended December 31, 2023, the Company received $15.0 million in milestone payments, of which $7.5 million was deposited in an escrow account. The remaining payments are due as the Company delivers the relevant cleared 900 MHz Broadband Spectrum and the associated broadband licenses to LCRA. As the Company is required to refund the deposit it has received from LCRA in the event of termination or non-delivery of the specific county’s full cleared 900 MHz Broadband Spectrum, it recorded the payments as contingent liability on the Company’s Consolidated Balance Sheets. A reduction in the contingent liability and a gain or loss on the sale of spectrum will be recognized for each county once the Company delivers the full cleared 900 MHz Broadband Spectrum and the associated broadband license(s) to LCRA. See Note 3 Escrow Deposits for further discussion on the escrow deposit. Xcel Energy Guaranty In October 2022, the Company entered into an agreement with Xcel Energy providing Xcel Energy dedicated long-term usage of the Company’s 900 MHz Broadband Spectrum for a term of 20 years throughout Xcel Energy’s service territory in eight states the Xcel Energy Agreement. In connection with Xcel Energy Agreement, the Company entered into a guaranty agreement, under which the Company guaranteed the delivery of the relevant 900 MHz Broadband Spectrum and the associated broadband licenses in Xcel Energy’s service territory in eight states along with other commercial obligations. In the event of default or non-delivery of the specific territory’s 900 MHz Broadband Spectrum, the Company is required to refund payments it has received. In addition, to the extent Anterix has performed any obligations, the Company’s liability and remaining obligations under the Xcel Energy Agreement will extend only to the remaining unperformed obligations. The Company recorded $50.3 million in deferred revenue in connection with the prepayments received as of December 31, 2023. The Company commenced delivery of the relevant cleared 900 MHz Broadband Spectrum and the associated broadband licenses in the first quarter of fiscal year 2024 and will continue through 2029. The revenue recognized for the three and nine months ended December 31, 2023, was approximately $0.7 million and $1.1 million, respectively. As of December 31, 2023, the maximum potential liability of future undiscounted payments under this agreement is approximately $49.2 million. Litigation From time to time, the Company may be involved in litigation that arises from the ordinary operations of the business, such as contractual or employment disputes or other general actions. The Company is not involved in any material legal proceedings at this time. Pandemic and Macroeconomic Conditions Recent macroeconomic events, including the outbreak of COVID-19, inflation, and geopolitical matters, have increased operating costs or resulted in delays in customer contracting or impacted the availability of equipment necessary for the deployment of our target customers’ planned PLTE projects. The Company continues to closely monitor these risks. Although difficult to quantify, the Company believes the current macroeconomic environment, including inflation, may have an adverse effect on the Company’s target customers’ businesses, which may harm the Company’s commercialization efforts and negatively impact the Company’s revenues and liquidity. If the Company is not able to control its operating costs or if the Company’s commercialization efforts are slowed or negatively impacted, continued periods of high inflation could have a material adverse effect on the Company’s business, operating results and financial condition.

Concentrations of Credit Risk

Concentrations of Credit Risk	9 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments which potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The cash balance at times may exceed federally insured limits, however, the Company places its cash and temporary cash investments with financial institutions for which credit loss is not anticipated.

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Xcel Energy Agreement During the quarter ended December 31, 2023, the Company cleared 900 MHz Broadband Spectrum in 10 additional counties in Xcel Energy’s service territory and applied for the associated broadband licenses. As a result, it received an advanced payment of $16.8 million in January 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 328	$ (8,020)	$ 283	$ (31,859)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Dec. 31, 2023 shares	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Timothy Gray [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		During the three months ended December 31, 2023 , Timothy Gray, our Chief Financial Officer, adopted a Rule 10b5-1 trading arrangement (as defined in Item 408 of Regulation S-K) on November 30, 2023. The maximum plan provides for the potential exercise of up to 50,000 stock options and sales of underlying shares of the Company’s common stock. The Plan is set to expire on May 14, 2024 or on such earlier date that all transactions under the trading plan are completed. The options covered by Mr. Gray’s Rule 10b5-1 Plan will expire on May 14, 2024. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). Mr. Gray’s Rule 10b5-1 Plan was ad opted and precleared in accordance with the Company’s Insider Trading Policy and actual sale transactions made pursuant to such trading arrangements will be disclosed publicly in future Section 16 filings with the SEC.
Name	Timothy Gray
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 30, 2023
Arrangement Duration	166 days
Aggregate Available	50,000	50,000

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	9 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates The consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information. Pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”), certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted, these unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2023, filed with the SEC on June 14, 2023 (the “2023 Annual Report”). In the Company’s opinion all normal and recurring adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been included. The Company believes that the disclosures made in the unaudited consolidated interim financial statements are adequate to make the information not misleading. The results of operations for the interim periods presented are not necessarily indicative of the results for the year. The Company is also required to make certain estimates and assumptions that affect the reported amounts. These estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the financial statements in the applicable period. Accordingly, actual results could materially differ from those estimates. The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendment in Response to the SEC’s Disclosure Update and Simplification Initiative . The ASU incorporates several disclosure and presentation requirements currently residing in the SEC Regulations S-X and S-K. The amendments will be applied prospectively and are effective when the SEC removes the related requirements from Regulations S-X or S-K. Any amendments the SEC does not remove by June 30, 2027 will not be effective. As the Company is currently subject to the SEC requirements, this ASU is not expected to have a material impact on its consolidated financial statements or related disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which provides updates to qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. This update is effective for annual periods beginning after December 15, 2023, and interim periods within annual periods beginning after December 15, 2024. Early adoption is permitted. The Company has not yet determined the impact of this pronouncement on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which enhances transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid and to improve the effectiveness of income tax disclosures. This update is effective for annual periods beginning after December 15, 2024. The Company has not yet determined the impact of this pronouncement on its consolidated financial statements and related disclosures.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table provides information regarding the Company’s revenue for each of the services it provides pursuant to its spectrum revenue agreements for the three and nine months ended December 31, 2023 and 2022 (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Spectrum revenues 900 MHz Broadband Spectrum Revenue Ameren Corporation $ 152 $ 152 $ 456 $ 457 Evergy 274 244 822 308 Xcel Energy (1) 663 — 1,107 — Narrowband Spectrum Revenue Motorola 182 182 546 546 Total spectrum revenue (2) $ 1,271 $ 578 $ 2,931 $ 1,311 1. The Company commenced revenue recognition in connection with the delivery of cleared 900 MHz Broadband Spectrum and the associated broadband licenses to Xcel Energy during the three months ended September 2023. 2. Revenue recognized during the three and nine months ended December 31, 2023 and 2022 was included in deferred revenue at the beginning of the respective periods.
Schedule of Contract Assets	The Company’s capitalized contract costs consisted of the following activity during the three and nine months ended December 31, 2023 and 2022 (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Balance at the beginning of the period $ 884 $ 693 $ 870 $ 638 Additions 12 47 45 109 Amortization (13) (4) (32) (11) Balance at the end of the period 883 736 883 736 Less amount classified as current assets (1) (425) (347) (425) (347) Noncurrent assets (1) $ 458 $ 389 $ 458 $ 389 1. Current assets are recorded as prepaid expenses and other current assets and noncurrent assets are recorded as other assets on the Company’s Consolidated Balance Sheets.
Schedule of Contract Liabilities	The Company’s contract liabilities consisted of the following activity during the three and nine months ended December 31, 2023 and 2022 (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Balance at the beginning of the period $ 80,265 $ 53,945 $ 60,759 $ 54,678 Additions (1) 28,066 8,000 49,232 8,000 Revenue recognized (1,271) (578) (2,931) (1,311) Balance at the end of the period 107,060 61,367 107,060 61,367 Less amount classified as current liabilities (2) (6,163) (2,656) (6,163) (2,656) Noncurrent liabilities (2) $ 100,897 $ 58,711 $ 100,897 $ 58,711 1. Represents milestone payments of received from customer contracts pursuant to the terms of the associated spectrum lease agreements. 2. Current liabilities and noncurrent liabilities are recorded as deferred revenue on the Company’s Consolidated Balance Sheets.

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Indefinite-Lived Intangible Assets	Intangible assets consist of the following activity for the nine months ended December 31, 2023 and 2022 (in thousands): 2023 2022 Balance at the beginning of period $ 202,044 $ 151,169 Acquisitions 11,042 9,159 Sale of intangible assets (32,402) — Exchanges – licenses received 41,250 13,107 Exchanges – licenses surrendered (8,215) (3,778) Balance at the end of period $ 213,719 $ 169,657 The purchases of intangible assets, including refundable deposits, consisted of the following activity during the nine months ended December 31, 2023 and 2022 (in thousands): 2023 2022 Refundable deposits $ 2,274 $ 5,317 Retuning cost and Swaps 1,493 4,593 Purchases and Anti-Windfall Payments 11,042 9,159 Total $ 14,809 $ 19,069

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Additional Lease Cost Information	Weighted-average remaining lease term and incremental borrowing rate for the Company’s operating leases are as follows: Nine months ended December 31, 2023 2022 Weighted average term - operating lease liabilities 3.50 years 3.01 years Weighted average incremental borrowing rate - operating lease liabilities 9% 12%
Lease Cost	The following table presents total lease cost for the three and nine months ended December 31, 2023 and 2022 (in thousands): Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Lease cost Operating lease cost (cost resulting from lease payments) $ 479 $ 461 $ 1,457 $ 1,355 Short term lease cost — — — 7 Total lease cost $ 479 $ 461 $ 1,457 $ 1,362
Supplemental Lease Information	The following table presents supplemental cash flow and non-cash activity information for the nine months ended December 31, 2023 and 2022 (in thousands): Nine months ended December 31, 2023 2022 Cash paid activity: Operating lease - operating cash flows (fixed payments) $ 1,732 $ 1,634 Operating lease - operating cash flows (liability reduction) $ 1,373 $ 747 Non-cash activity: Right of use assets obtained in exchange for new operating lease liabilities $ 439 $ 165 The following table presents supplemental balance sheet information as of December 31, 2023 and March 31, 2023 (in thousands): December 31, 2023 March 31, 2023 Non-current assets - right of use assets, net $ 4,629 $ 3,371 Current liabilities - operating lease liabilities $ 1,888 $ 1,725 Non-current liabilities - operating lease liabilities $ 3,700 $ 2,922
Future Minimum Payments	Future minimum payments under existing non-cancelable leases for office and tower spaces (exclusive of real estate tax, utilities, maintenance and other costs borne by the Company) for the remaining terms of the leases following the nine months ended December 31, 2023, are as follows (in thousands): Fiscal Year Operating Leases 2024 (excluding the nine months ended December 31, 2023) $ 655 2025 2,156 2026 1,409 2027 994 2028 645 After 2028 522 Total future minimum lease payments 6,381 Amount representing interest (793) Present value of net future minimum lease payments $ 5,588

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	9 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Share Repurchase Program	The following table presents the share repurchase activity for the three and nine months ended December 31, 2023 and 2022 (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 *

Net Income (Loss) Per Share o_2

Net Income (Loss) Per Share of Common Stock (Tables)	9 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles net income (loss) and weighted-average common shares used to compute basic and diluted net income (loss) per share: Three months ended December 31, Nine months ended December 31, 2023 2022 2023 2022 Net income (loss): $ 328 $ (8,020) $ 283 $ (31,859) Weighted-average common shares: Basic weighted-average shares 18,704,400 18,930,594 18,858,472 18,834,991 Add: dilutive effect of stock options and restricted stock units 211,846 — 224,395 — Diluted weighted-average common shares 18,916,246 18,930,594 19,082,867 18,834,991

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation (Details) $ in Thousands		1 Months Ended								3 Months Ended			9 Months Ended		45 Months Ended
	Nov. 22, 2023 USD ($) mi² term	Dec. 31, 2023 USD ($)	Nov. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jul. 31, 2023 USD ($)	Apr. 30, 2023 mi² people city county	Oct. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Feb. 28, 2021 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) county	Dec. 31, 2022 USD ($) county	Dec. 31, 2026 USD ($)	Sep. 21, 2023 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2021 USD ($)
Conversion of Stock [Line Items]
Prepayments received		$ 107,060		$ 80,265				$ 53,945		$ 107,060	$ 80,265	$ 61,367	$ 107,060	$ 61,367			$ 60,759	$ 54,678
Broadband licenses granted, number of counties | county													24	70
Payments to acquire intangible assets													$ 14,809	$ 19,069
Increase in deposit assets										7,500
Spectrum revenues										1,271		578	2,931	1,311
Contingent liability		15,000							$ 20,000	15,000			15,000				$ 0
Stock repurchase program, authorized amount																$ 250,000			$ 50,000
SDG&E
Conversion of Stock [Line Items]
Consideration transferred									$ 50,000
Tampa Electric Company | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Conversion of Stock [Line Items]
Agreement term	20 years
Number of agreement extension terms | term	2
Agreement extension term	10 years
Service area | mi²	2,000
Total scheduled prepayments	$ 34,500
Prepayments received		6,900								6,900			6,900
Lower Colorado River Authority (LCRA) | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Conversion of Stock [Line Items]
Initial payment received										15,000
Lower Colorado River Authority (LCRA) | Licensing Agreements
Conversion of Stock [Line Items]
Broadband licenses granted, number of counties | county						68
Broadband licenses granted, number of cities | city						30
Broadband licenses granted, number of customers | people						100
Broadband licenses granted, service area | mi²						73,000
Lower Colorado River Authority (LCRA) | Licensing Agreements | Forecast
Conversion of Stock [Line Items]
Payments to acquire intangible assets															$ 30,000
Xcel Energy | Spectrum revenue
Conversion of Stock [Line Items]
Spectrum revenues										663		0	1,107	0
Xcel Energy | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Conversion of Stock [Line Items]
Agreement term							20 years
Total scheduled prepayments							$ 80,000
Prepayments received		50,300								50,300		$ 8,000	$ 50,300	$ 8,000
Milestone payment received			$ 21,200		$ 21,200
SDG&E | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Conversion of Stock [Line Items]
Milestone payment received		$ 200		$ 25,200				$ 200		$ 200	25,200
Delivery delay adjustments											$ 1,100

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Spectrum revenues	$ 1,271	$ 578	$ 2,931	$ 1,311
Spectrum revenue | Ameren Corporation
Disaggregation of Revenue [Line Items]
Spectrum revenues	152	152	456	457
Spectrum revenue | Evergy
Disaggregation of Revenue [Line Items]
Spectrum revenues	274	244	822	308
Spectrum revenue | Xcel Energy
Disaggregation of Revenue [Line Items]
Spectrum revenues	663	0	1,107	0
Spectrum revenue | Motorola
Disaggregation of Revenue [Line Items]
Spectrum revenues	$ 182	$ 182	$ 546	$ 546

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Thousands	Nov. 22, 2023 USD ($) mi² term	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Prepayments received		$ 107,060	$ 80,265	$ 60,759	$ 61,367	$ 53,945	$ 54,678
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, amount		$ 188,500
Remaining performance obligation, expected timing of satisfaction, period		30 years
Tampa Electric Company | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Disaggregation of Revenue [Line Items]
Agreement term	20 years
Number of agreement extension terms | term	2
Agreement extension term	10 years
Service area | mi²	2,000
Total scheduled prepayments	$ 34,500
Prepayments received		$ 6,900

Revenue - Schedule of Contract

Revenue - Schedule of Contract Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Roll Forward]
Beginning balance	$ 884	$ 693	$ 870	$ 638
Additions	12	47	45	109
Amortization	(13)	(4)	(32)	(11)
Ending balance	883	736	883	736
Capitalized Contract Cost, Net, Classified [Abstract]
Balance	883	736	883	736
Less amount classified as current assets	(425)	(347)	(425)	(347)
Noncurrent assets	$ 458	$ 389	$ 458	$ 389

Revenue - Schedule of Contrac_2

Revenue - Schedule of Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Revenue from Contract with Customer [Roll Forward]
Beginning balance	$ 80,265	$ 53,945	$ 60,759	$ 54,678
Additions	28,066	8,000	49,232	8,000
Revenue recognized	(1,271)	(578)	(2,931)	(1,311)
Ending balance	107,060	61,367	107,060	61,367
Contract with Customer, Liability [Abstract]
Balance	107,060	61,367	107,060	61,367	$ 60,759
Less amount classified as current liabilities	(6,163)	(2,656)	(6,163)	(2,656)	(2,769)
Noncurrent liabilities	$ 100,897	$ 58,711	$ 100,897	$ 58,711	$ 57,990

Escrow Deposits (Details)

Escrow Deposits (Details) $ in Millions	3 Months Ended
	Dec. 31, 2023 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Increase in deposit assets	$ 7.5

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details)	3 Months Ended			9 Months Ended
	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) county	Dec. 31, 2022 USD ($) county	Mar. 31, 2023 USD ($)
Acquired Indefinite-lived Intangible Assets [Line Items]
Impairment	$ 0		$ 0	$ 0	$ 0
Broadband licenses granted, number of counties | county				24	70
Exchanges – licenses received				$ 41,250,000	$ 13,107,000
Licenses exchanged				8,215,000	3,778,000
Gain on disposal of intangible assets, net	(13,700,000)		(5,800,000)	(33,000,000)	(9,300,000)
Sale of intangible assets				25,427,000	0
Gain on sale of intangible assets, net	32,000		0	7,364,000	0
Deferred gain on sale of intangible assets	4,911,000		$ 0	4,911,000	0	$ 0
SDG&E | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Acquired Indefinite-lived Intangible Assets [Line Items]
Delivery delay adjustments		$ 1,100,000
Licensing Agreements
Acquired Indefinite-lived Intangible Assets [Line Items]
Exchanges – licenses received				41,300,000	13,100,000
Licenses exchanged				$ 8,200,000	$ 3,800,000
Sale of intangible assets	700,000	44,000,000
Reduction of intangible assets	600,000	31,800,000
Gain on sale of intangible assets, net	$ 32,000	$ 7,300,000

Intangible Assets - Schedule of

Intangible Assets - Schedule of Activity (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Indefinite-Lived Intangible Assets [Roll Forward]
Beginning balance	$ 202,044	$ 151,169
Acquisitions	11,042	9,159
Amount disposed	(32,402)	0
Exchanges – licenses received	41,250	13,107
Exchanges – licenses surrendered	(8,215)	(3,778)
Ending balance	$ 213,719	$ 169,657

Intangible Assets - Schedule _2

Intangible Assets - Schedule of Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Indefinite-lived Intangible Assets [Line Items]
Payments to acquire intangible assets	$ 14,809	$ 19,069
Refundable Deposits
Indefinite-lived Intangible Assets [Line Items]
Payments to acquire intangible assets	2,274	5,317
Returnable Costs and Swaps
Indefinite-lived Intangible Assets [Line Items]
Payments to acquire intangible assets	1,493	4,593
Purchases and Anti-Windfall Payments
Indefinite-lived Intangible Assets [Line Items]
Payments to acquire intangible assets	$ 11,042	$ 9,159

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022	Apr. 30, 2019
Related Party Transaction [Line Items]
Contract liability	$ 107,060,000	$ 61,367,000	$ 107,060,000	$ 61,367,000	$ 80,265,000	$ 60,759,000	$ 53,945,000	$ 54,678,000
Teamconnect Llc
Related Party Transaction [Line Items]
Ownership percentage									19.50%
Teamconnect Llc
Related Party Transaction [Line Items]
Service fee term			24 months
Teamconnect Llc | PDVConnect
Related Party Transaction [Line Items]
Service fee term			48 months
Goosetown And A BEEP | Related Party
Related Party Transaction [Line Items]
Consulting fees	0	$ 15,000	$ 0	$ 45,000
TeamConnect LLC | Related Party
Related Party Transaction [Line Items]
Contract liability	$ 0		$ 0			$ 0

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Lease [Line Items]
Net lease cost	$ 479	$ 461	$ 1,457	$ 1,362
Minimum
Lease [Line Items]
Lease extension	3 years		3 years
Maximum
Lease [Line Items]
Lease extension	10 years		10 years

Leases - Additional Lease Cost

Leases - Additional Lease Cost Information (Details)	Dec. 31, 2023	Dec. 31, 2022
Lease, Cost [Abstract]
Weighted average term - operating lease liabilities	3 years 6 months	3 years 3 days
Weighted average incremental borrowing rate - operating lease liabilities	9%	12%

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Lease, Cost [Abstract]
Operating lease cost (cost resulting from lease payments)	$ 479	$ 461	$ 1,457	$ 1,355
Short term lease cost	0	0	0	7
Total lease cost	$ 479	$ 461	$ 1,457	$ 1,362

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease - operating cash flows (fixed payments)	$ 1,732	$ 1,634
Operating lease - operating cash flows (liability reduction)	1,373	747
Right of use assets obtained in exchange for new operating lease liabilities	$ 439	$ 165

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Leases [Abstract]
Non-current assets - right of use assets, net	$ 4,629	$ 3,371
Current liabilities - operating lease liabilities	1,888	1,725
Non-current liabilities - operating lease liabilities	$ 3,700	$ 2,922

Leases - Future Minimum Payment

Leases - Future Minimum Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024 (excluding the nine months ended December 31, 2023)	$ 655
2025	2,156
2026	1,409
2027	994
2028	645
After 2028	522
Total future minimum lease payments	6,381
Amount representing interest	(793)
Present value of net future minimum lease payments	$ 5,588

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Income Tax Disclosure [Line Items]
Income tax expense	$ 1,338	$ 210	$ 1,743	$ 625
Federal and State
Income Tax Disclosure [Line Items]
Income tax expense	1,300	$ 200	1,700	$ 600
Federal
Income Tax Disclosure [Line Items]
Deferred tax liability	3,100		3,100		$ 2,700
State
Income Tax Disclosure [Line Items]
Deferred tax liability	$ 3,200		$ 3,200		$ 2,700

Stockholders_ Equity - Narrativ

Stockholders’ Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended	28 Months Ended
	Sep. 30, 2014	May 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023	Dec. 31, 2023	Sep. 21, 2023	Aug. 08, 2023	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available (in shares)			579,973		579,973			579,973
Awards issued (in shares)					194,611		260,370
Stock repurchase program, authorized amount									$ 250,000		$ 50,000
Stock repurchased and subsequently retired			$ 7,971	$ 3,498	$ 18,706	$ 8,223		$ 33,900
Shares repurchased			7,971	$ 3,498	18,706	$ 8,223
Excise taxes accrued			74		118
Stock repurchase program, remaining repurchase amount			$ 242,000		242,000			$ 242,000
Shares issued on conversion (in shares)		500,000
Common Class B | Pdv Spectrum Holding Company Llc
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity method investee, cumulative proceeds received on all transactions	$ 10,000
Sale of stock (in shares)	500,000	500,000
Sale of stock (in dollars per share)	$ 20
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units owned	100%
Common Class A | Pdv Spectrum Holding Company Llc
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Subsidiary equity units for which investor has right to convert to common stock (in shares)	500,000
2023 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized and reserved for issuance (in shares)										250,000
Stock repurchased and subsequently retired					$ 8,000
2023 Stock Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance threshold, percentage					100%
2014 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available (in shares)			388,151		388,151			388,151
2014 Stock Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized and reserved for issuance (in shares)			181,887		181,887			181,887
2021 Share Repurchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased and subsequently retired					$ 10,700

Stockholders_ Equity - Share Re

Stockholders’ Equity - Share Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Number of shares repurchased (in shares)	230	106	563	216
Average price paid per share (in dollars per share)	$ 34.77	$ 33.11	$ 33.62	$ 47.05
Total cost to repurchase	$ 7,971	$ 3,498	$ 18,706	$ 8,223

Net Income (Loss) Per Share o_3

Net Income (Loss) Per Share of Common Stock - Reconciliation of Earnings Per Share (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net income (loss)	$ 328	$ (8,020)	$ 283	$ (31,859)
Weighted-average common shares:
Basic weighted-average shares (in shares)	18,704,400	18,930,594	18,858,472	18,834,991
Add: dilutive effect of stock options and restricted stock units (in shares)	211,846	0	224,395	0
Diluted weighted-average common shares (in shares)	18,916,246	18,930,594	19,082,867	18,834,991

Net Income (Loss) Per Share o_4

Net Income (Loss) Per Share of Common Stock - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	1,129,994	201,100	1,048,902	381,432

Contingencies and Guaranty (Det

Contingencies and Guaranty (Details) - USD ($) $ in Thousands	1 Months Ended							3 Months Ended			9 Months Ended		45 Months Ended
	Dec. 31, 2023	Nov. 30, 2023	Sep. 30, 2023	Jul. 31, 2023	Oct. 31, 2022	Sep. 30, 2022	Feb. 28, 2021	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2026	Mar. 31, 2023	Mar. 31, 2022
Commitments And Contingencies [Line Items]
Contingent liability	$ 15,000						$ 20,000	$ 15,000			$ 15,000			$ 0
Contingent liability	1,000							1,000			1,000			20,249
Payments to acquire intangible assets											14,809	$ 19,069
Increase in deposit assets								7,500
Prepayments received	107,060		$ 80,265			$ 53,945		107,060	$ 80,265	$ 61,367	107,060	61,367		$ 60,759	$ 54,678
Spectrum revenues								1,271		578	2,931	1,311
SDG&E | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Commitments And Contingencies [Line Items]
Milestone payment received	200		25,200			$ 200		200	$ 25,200
Delivery delay adjustments			$ 1,100
Xcel Energy | Spectrum revenue
Commitments And Contingencies [Line Items]
Spectrum revenues								663		0	1,107	0
Xcel Energy | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Commitments And Contingencies [Line Items]
Milestone payment received		$ 21,200		$ 21,200
Agreement term					20 years
Prepayments received	50,300							50,300		$ 8,000	50,300	$ 8,000
Xcel Energy | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement | Maximum
Commitments And Contingencies [Line Items]
Prepayments received	$ 49,200							$ 49,200			$ 49,200
Lower Colorado River Authority (LCRA) | Forecast | Licensing Agreements
Commitments And Contingencies [Line Items]
Payments to acquire intangible assets													$ 30,000
SDG&E
Commitments And Contingencies [Line Items]
Consideration transferred							$ 50,000

Concentrations of Credit Risk (

Concentrations of Credit Risk (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Accounts Receivable | Customer Concentration Risk
Concentration Risk [Line Items]
Accounts receivable	$ 0	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - Collaborative Arrangement, Transaction with Party to Collaborative Arrangement - Xcel Energy $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2024 USD ($)	Dec. 31, 2023 county
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of counties cleared for licenses | county		10
Subsequent Event
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Advance payment received | $	$ 16.8