ATEX - Earnings call transcript Q4 2022

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Operator

Good day, ladies and gentlemen, and welcome to the Anterix Fourth Quarter and Fiscal Year-End Conference Call. At this time, all participants have been placed on a listen-only mode.

We will open up the floor for your questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Natasha Vecchiarelli. Ma’am, the floor is yours.

Natasha Vecchiarelli

welcome call. Anterix and year quarter everyone, investor XXXX morning, to fourth the fiscal Good Vecchiarelli, President Natasha Anterix. I’m Vice Communications and at Corporate of Investor Relations

me CFO; and our Guttman-McCabe, our Rob Gerbrandt, Joining and COO; Chris call Communications Regulatory CEO; Officer. our our and Ryan Schwartz, Gray, Tim Chief today’s on President are

on to and either risks subject session. note remarks may or prepared that please begin, presentation, materially. These we results our factors actual are are during most performance impact today’s cause or and beliefs our we associated certain Risk in question-and-answer current may uncertainties Before differ that make statements SEC in based forward-looking expectations statements are to filings. identified recent that our may any

an Following question-and-answer operator-led our prepared session. remarks, have will we

In over a With conclusion and Anterix’s our our addition, transcript of posted call, call will website. CEO, Investor Schwartz. Relations of the and to today’s discussion turn replay be to President Rob I’ll the that, at

Rob Schwartz

you we’ll call, Good give and joining maternity on questions. financials, you an This is through morning, to customer and going and from for then back our Tim our morning, your update pipeline, thank and Natasha, you progress I’ll welcome open take and up leave. everyone, for industry year-end the

Let I industry moment are me first discussing and spend and progress driving team. Ryan a the customer with our

signed of To signed $XXX the industry I’m past weeks. approximately has are that to these date it significant, with times pipeline, which in closing with, evolution difficult Combined, two we the facto the start our solution letters the contracted to utilities has for we broadband was contracts. how proceeds. The the represent of happy have one to in from the never progress private pursue I and time, we will de As three been sector, know goal been but million in share lease support potential of the at being our measure progress of stronger. three utility take beyond is intent Anterix’s receiving

these While these binding are non-binding definitive agreements. LOIs, we of are with utilities towards each working

significant additional deals We pipeline date. contract of number have made valuations than the category closed who also fall have the headway to would a larger of greater our we with in with spectrum utilities

have of relatively customers. value concentration a We population significant of a small in

Our closing team billion focused remains of they having year on $X.X target are next the our as in as deal contracted XXXX on proceeds. approximately fiscal

initially we’ve but pipeline. a team this As to deals them our to complexity increased contract in would our these to seen strategically Phase processes very proceeds an of X not we helpful provide completion. we them has Notably, some that our anticipated, differentiator services are are adding also some of large highlight utility, larger is of a of a X bring and become our offering. we help to involve expertise goal. and deals XXXX In our flexibility Overall, asked important to enough achieve these it’s seasoning positive plan, have expanded have strength customer that and with to being instances, potential

toolbox I’ll our progress, includes platform which new our in describe to tool every continue that using are We our shortly. now

attendees, opportunity With announce market our to and a well and support events place the this Utility to year first platform offering. since and an industry’s to thousands of are these This Anterix. years addition for a Council indication industry Two Technology yesterday over two provide these we as of largest the is and the secured, is for In launch growing of our time of utilities LOIs is with movement utility important the DistribuTECH. vendors taking commercially in great meet next, opportunity our forums and pipeline the shows have the market another offering. trade COVID. within for week of for Convention us as This for

Mandiant, Our receiving nationwide ecosystem our team it and XXX industry no of about like bears Qualcomm in technology that The are this of service Cisco, exceptional, our adoption of Anterix further significant the megahertz. great this committed of XX we members the C-level Program, seeing Nokia, response the initial news goal on Program, be our Active private on And how utility and Ecosystem by overstated and it’s endorsement substitute significance vested Ecosystem have getting repeating a is many part to leaders, broadband Motorola, and for initial to can’t we’re Anterix interest solutions. These our Active the talked be is spectrum megahertz ecosystem collaboration customers we’ve shared a cooperation Ericsson, and of is networks executives an this XXX the for GE, our contract, while now perspective, it deployed offering. has from drive strategy. of more. while XXX foundation to Built have our oversight are this to companies that for has of channel support ground a six a our illustration drive industry key megahertz signed including

further asset. needs marketplace, leasing details of now platform customers, the yesterday and advantage announcement offering and expect competitive me requests and our the the of Let to expand and made This our to is in spectrum to matters why our differentiate drive platform designed on meet continue we of our valuable platform investors. to it elaborate the our the

not driving spectrum, solutions, make we and are We will now adoption easier. believe we customer leasing this are simply

those the harnessing combination. connect individual that gathered, the our Anterix Ecosystem have and and the establishes Active with identify to capturing capability will that we integration. value networks, to community it power scale also For the other benefits, ability of the platform customers, with Among provide utility Anterix of match the needs utility needs

organizations the pieces help focused developers. of will of Board from platform Exelon, see Evergy, center and launch. the newly the the and customer accomplish serve utility utilities can members described. Anterix they industry C-suite represents of a just as Utility and Southern At Let’s Board Ecosystem at is the walk objectives Broadband Advisory Advisory Anterix six Utility which the Dominion, the Alliance, The for Ecosystem Amarin, and and Active comprised touchstone of through Active the formed executives for individual how numerous us platform additional investor Company I Strategic program. technology

Focusing Anterix will availability and those products. and innovators on solutions economies the lower scale, that needs drive risk accelerate real-life industry the of of development of complexity and and

our have the an of and environment been our spectrum will a a asset, solutions enhanced on cybersecurity while monetizing five the utilities the integrated the targeted XG adoption. of as part connected enhance and including business module by remains communications and As simply a public lab platform network core identified, drive offering, AWS, of roaming management the hosted and initiatives cloud XG, a launch platform, solution. And for multiband result, focus set

megahertz case joining need and We’re on this has applying development to a both develop become offer a journey are utilities, Anterix. and forces cost for with XXX to customers of of prospective value communications our uniquely continuously the the decision products with the private total with use ecosystem development, the infrastructure positioned in and our nationwide. of we studies toward valuation, a they’ve a contracted strategic needed that through adoption replacement are these deployment provide. services members after engage learning What significantly during for and case From networks strategy, is program capability. we LTE spectrum funds ownership not is business process to of we private we models, broadband simply more, rate to This believe of adoption

it customers platform and of to the build continue responding development not our entire it needs. partnership and asking of base are and near-term customers, from but is the relationships. value. flow to to over will And Tim. the what our the This supports with position takes resulting Yes, The of our these just the but how effort it our I’ll are exactly time, defensible that, for. We that multi-decade solutions pipeline, outcome this utility provide we are also turn

Tim Gray

contracted for accomplishment time we by was of annual pleased XXXX, flow first $XX year on full receipt driven cash before the positive Rob. the share of our for Thanks, announce I’m that This repurchases. million an fiscal basis, yielded the to of strengthen additional expect of payments Amarin will proceeds the and which SDG&E $XX and receipt from Amarin. sheet. from million mid-XXXX, our from an in balance to continue proceeds approximately million through Evergy $XX contracted contracts Further, we

Turning to cash spend.

spend do impact to GAAP have for million year As $XX or including we per OpEx to expect of our OpEx roughly guidance this ecosystem on clearing revenue $XX fiscal projected year costs. fiscal new XXXX, we approximately year. million in material and guided, platform not expect a previously our through $XX million our spectrum We

fiscal contracts which spectrum year-to-date, in includes million clear $XX XXXX, fiscal in acquisitions closed in not million anti-windfall approximately have payments. to and funds Current we clearing for year additional OpEx spectrum an For yet costs, committed returning costs, $XX and $XX we million spectrum. spent

the number throughout period consistent United licensing I’d requirements meets Order issued, have increased this fully X,XXX we’ve time. with counties projections of FCC’s accomplishment a Our the Report where previously that years note our overall is over and clearing broadband the cost Anterix estimates clearing This provided. the counties the like to spectrum the was in since two efforts of States. significant to remain over

retuning was reminder, designed and county provision. broadband license one rules each the in eligible there getting a As only mandatory a the by FCC applicant as triggers

to continue a to Our clearing efforts marketplace. bring have broadband in put the position to Anterix strong

with initiatives. funded million fully our and continue approximately business sheet our providing in as outstanding XX, capital cash to ample $XXX sheet be balance debt, XXXX, to continues plan business no and flexibility of to Our on support March balance

shareholders During the our repurchase through program. quarter, capital share we to to our return continued

$XX a During year repurchased approximately $X XX,XXX our roughly activity million. fiscal XXXX fourth of million. at at during quarter, cost shares Total cost XXX,XXX we included a repurchased of shares our

am fiscal overall of our value continues further broadband, increase pipeline balance our have flow. to ability repurchasing saying combined I heading pleased by the and and with asset our in active positive it the converted pipeline we ongoing our generate into sheet, with Our confidence that in effort we spectrum to I’ll XXXX. the strength foundation as as cash underscores conclude our to

operator over questions. Now I to will for turn it the

Operator

Instructions] floor Walter open coming the with live. for questions. Piecyk your [Operator gentlemen, is line today first Your question and LightShed. from is is Ladies for now Walter

Walter Piecyk

my of this letters can of mean I of memory of phases, that refresh intent? expect Thanks. about terms do to contract? like know Can and different them you in design – talk you like at timing-wise rest the you does terms in pipeline? what you things the When revert the just And what mean? does had Rob,

Rob Schwartz

Why our Walt. are of Thanks, Ryan. from there progress indication just then the morning. letters another Good Sure. don’t to over maybe standpoint. Look, and pass it start of I intent

doing past, have those another so. And have shown, us utilities with the that of in about who a get who all talked framing of we’ve these and the there’s are transaction to those on counterparties. the us entry with of just of points for it’s As for the process way kinds transacted potential

worth the the collective folks of of I the think the about the saw of how support – industry also are C-suite really folks utilities showing are you looking stepping forward. for of are names when the all another it’s indication they of C-level press is level platform, at release action the these that

time. Ryan with know as to go counterparties a sophisticated, past, the is very we’re process the is pass are that far of of timing takes point in As predicting virtually they organizations with. the said complicated and but that that the These impossible of through the working we large, precision second, timing, we’ve going to kind I’m in something

us And so the to of demand marketplace want into add? give for we they those that’s it’s me, a for just to the think anything confidence all how will us you still Ryan, say what’s contracts, forward. fast continues and I about but have timing, indications And LOIs will. confidence the able drive in specific developing convert of to continue we happening jump opportunity the to the the be XXX specific megahertz. if them to To scale macro

Walter Piecyk

this saying their paper. to someone we’re least Like continue in mean opposed you’re it least final you ultimate makes willing and a e-signing "Hey, what just at contract the this work until paper, is signing a gets contract. at LOI, say process, I – an what’s like, to of at person as bother from is anything presumably, to Like out on then piece So when standpoint? that signing sign, sign that what or literally point – to going of why utility to

Rob Schwartz

transaction Look, and approach valuable me instances, again, you Let been and a In it’s up Ryan, that. a start, There through of yourself. on some you’ve are finish start consummation letter to frame can lot getting ways a of intent. of know you with I to deal. a this can a

of and what the is, scale – path we agree the So parties of intention forward. a opportunity the can the

haven’t of again, used of we’ve an letters gone usually to how we’ve intent straight them done interest. indication that’s deals, well. So as as that’s done and contract But from

it The way these very sophisticated is of so up Each institutions different. is in environments they’re their depends. different. are procurement And set departments are The with state different. processes really The different. regulatory which

really it’s approaches. to of so the And specific each

intent their know to the forward. we’re state we of sometimes that process so of the for parties letters is how So same we for helpful on move intentions the page and just

Ryan Gerbrandt

Rob. this Yes. multiple way see I ways talked process mean I this want to but be are as we’re point, since the about, exclusive progresses, these to I just reinforce there’ll complex one going see that processes. we don’t

lot deal. the teams sophisticated are types be of vehicles of able delivery, spectrum of aspects these that process our way can details As larger as transaction, be these we’re of to the And starting out transactions. we’ve towards working we’re to through nice incrementally work and kind flesh a the before, begin key ultimately way, of the said pending these procurement the

Walter Piecyk

this announcement is an to like, on make to want looks through from there. hey, I’m a it. mean lengthy evaluating I follow-up one just I’m what the I it And ecosystem utility, of there’s sure me process yesterday. like going

basically ultimately terms I I So bring in majors together if prior in that – of but they the now it at a the to it? Maybe guess know, are or signing this ecosystem them something manner, we them contracts, broaden risk look out bunch LOIs. right reduces to they’re effectively got that room in utilities. that that even way LOIs list, some on commit their to effectively the don’t an them doesn’t you of Is the of

Rob Schwartz

know innovation and part the the deploying and like is are about evergreen, right? create application maybe clearly, an is continuously The devices, up going not do and do standard, those first there they parties, of a applications, offering right? and with is That’s This XGPP Mandiant this standard and keeps a the an it. that’s have capability infrastructure we being XXX of that there utilities ecosystem exists you to the megahertz stack significant threats. we companies an ecosystem XGPP on necessary, the landscape response but just vertical a out continuous that’s example. create the of the as our right? and to as want around groups threat for This cybersecurity is is the Amarin, leader think an STG active Walt, is know, group about right? vital of called growing and I So is is some current how of step, spectrum that of Evergy in one XXX, a how process changing,

about for we’re customers And so although multi-decades about that, be to over that us, agreements. catalyst to it’s signing a create an this, valuable solution environment getting creates contract the going continuously clearly do how that a these not it’s it’s for with we

Ryan Gerbrandt

Rob… And

Walter Piecyk

announcement type If make having easier they’re these create people you yesterday to of easier? in are some mean new forum business that shouldn’t a shared of doing it these is try off the that based or that multiple and Web be across to services for core, some this discussions, ground get maybe and you type kind cloud and where [indiscernible] shouldn’t DISH utilities. make I of enable

Rob Schwartz

Absolutely.

as on. tissue the and that us well, connective five trend we’re core, with talked conjunction going it’s for utility, carrier of XG between forward, is If first AWS. it the that cloud utilities doing That you be is not a And capability. and scale an we’ve these to core And the it’s noticed we’re know industry there, about for collectively. cloud does the about bring that a report just what the initiatives that to is having putting individual you XG, in about

recognizing proactive to with the technology So add you’re that? to these broader across creation patterns you at what of of really much core able capability. at top the be to the you the right? utilities, to that we do value, Getting functional it valuable. pyramid more think, react when so, effort is using be to and able able we kind board the where to of utilities that a Chris, collective really for is did – connect those of chain and coming value use want the as opportunities just and value. cybersecurity, that It’s I into across to to if cloud be to landscape is issues of really so creates in information threat to being the able a mentioned detect do the The

Chris Guttman-McCabe

Thanks, think Walt, think dozen question. both the Yes. a utility great mean yet platform you and word, sides and side, when Rob, you to an the apply half overused this and new we’ve executives. equation, got the of is on I scale scale of of word

XX represents companies in XX them of One to the ecosystem. another

are the scale is the XX the on the companies deliver you’ve what then obviously, got to So needs. side identifying And that collaboration through those on the where poised entities other on brings thinking needed. concerns, to side,

between, in dozens be And going forward. what right and expect dozens five – with we have more so it’s to you and now products

make said. scale word, And overused to – contract. both the things – So you of decision-making, it it easier drives providing It after sides utility the as we all is utilities, then it before again, contracts drives are really Walt, for but solutions. does the really and had

Walter Piecyk

you. Thank Great.

Operator

today JPMorgan. line from is is live. Cusick your Phil, Your with for question Phil next coming

Phil Cusick

I Thanks. guys. if Hi, A couple, can.

a taking in March by be of deals you year was done letter And – intent signed. seems with and of to you guided before just The first done they’re like early the up follow be and think, things Walt. Amarin, then took contract going to Can had it now. to longer. a So year on I are

a have these So companies question these there with things inside like doing is deals sort give an of of issues opportunities? value-add complex that becoming Thanks. process the Can more are is us all? about this up Or and cropped services idea? at the you

Rob Schwartz

Sure, couple thoughts of Phile. thanks. there. morning, Good A

was Amarin in us all, that, FCC efforts We their regards, in of advance started specific having an forget Amarin can’t of and ruling. First right? first,

is, forward. absolutely – So be you makes to We transactions clearly, with the rationale. replace more there’s the We into the as easier in utilities say, moving these think I down going as I for of that that engineers would were because here, now that the premise. were say, it was a started that with, to looking ice they and systems move existing it that the But complexity significant getting pioneers do there’s others lengthier pioneer break process these bowels it conversations telecom strategic forward. the the of to of we’re first would in are – was correct

the this C-suite, And platforms. you Across work and solved us. to and that announcement folks have also major kind sign as are of by initiatives platform involved operating off names really that get Now on the to can who being of done has strategic utilities leaders these organizations the things large level be the there with multiple complicated companies approved. heightens planning, it by are and while diligence like these organization, and in multiple see these it the by the of the of value that strategic are concept, are heightens

macro wildfires that the you You So part open But have how networks, to to about solve. of a whole part private wildfires. energy our being weather to assets in understand situation. also cybersecurity issue, that is the you is San have Coast one able on about work increasing and are decarbonization an decision wildfires. broader threats two-way these we’ve and able landscape is demonstrated sector, within and on threats. need risk detect of paper important to into tailwinds, events commitments, has to utilities report utility. going otherwise in happening, be be but is that’s about every a and important are to monitor Gas from now It’s they not use all is these to touched sources which of of be through really to talked an the strategic about I a a a the communication to utility to of a and now gets that no Diego our system a there’s with the distributed focuses. these to right? Electric what’s and Schweitzer don’t all nationwide what’s question, And needless, primary global being know prevent the And the the – another but what’s It a increasing West demand sector day, that these use publicly able able problem utilities shown global specifically objectives are The modern happening, increasing happening That to & it. the interest complicated guys is been of longer with communications is value mitigate of and to out trying these it’s utility to able very telecom platform

it, now standpoint, a but solely. solving we’re of integrating we’re issues from so we’re time component strategic a top those driving of planning not for utilities, and which these take And to

by it’s not macro solving And and problems it’s and LTE or utilities. that increase spectrum just issues these about building that or must so the an network, be about purchasing does but solved timing, spectrum complexity are these leasing

not we when why but when. that’s So say, it’s if

of that help certain the the because We’re strategic the absolutely elongated of are nature. decision-making complexity going for but the providing to communications these, systems is solve

Phil Cusick

Okay.

Is these LOIs? there. make to else the stage? quite was In the past, $XXX there someone million in you’ve that three that final that is didn’t there there Okay. Or LOI stage the the said about of pipeline, it in

Rob Schwartz

want you one. to to that maybe Ryan, respond

Ryan Gerbrandt

continue But Phase in as developing is happy X Rob to. the of drive remarks, and we’ve all as whole X. that’s too, some have got important. across we’ve pipeline correct. prepared very and got of that Phase of Yes, activity in to terms momentum mostly, seeing positively hit both we set on of through Obviously, and maturation there those phase been all covered the the Yes, deals the in those

said, where we the volumes also we’re to the mass we move the but is – progress continue on critical deal, our through. focused keeping year we’re laser-focused through comes on fiscal XXXX goal As as eye obviously, and those next the the ability really from how to

Phil Cusick

one or the then Any they’re among stage for And a of prepayment in overtime in sort Okay. more me. pay a preference three whether the LOI of situation?

Rob Schwartz

I think, Phil, we’re still seeing our for utilities. a most preference for of prepayment

So trend. I think, generally, we’ll continue to see that

Phil Cusick

Okay. Thanks, guys.

Rob Schwartz

you. Thank

Operator

Stanley. Your coming question is is today Morgan for your from live. Simon next with Flannery Simon, line

Simon Flannery

you Great. morning. Thank very much. Good

years So I proceeds. XXXX the billion think reiterated you in fiscal less two of $X.X contracted That’s than goal for away.

hit didn’t for $XXX past year. obviously You the million the

proceeds obviously just but helpful, what give given these the which you you going confidence sort be And over can $XXX in still XXXX. – that to reiterating fiscal have $XXX these the LOIs, are is over that you slower targeting of to line? year guide process cash us gives last getting You or so we saw contracts actually million that by million of the

Rob Schwartz

Sure.

our simply morning. Simon. target by yes. fiscal Still The thanks, Good affirming So $X.X of XXXX. and our is, billion answer objective

this is to where makes together, you’ve I a lot another it of licenses confidence individually for we solution it the that, of support platform and number think that growing a There’s We in is seen. comments why my way. transact. sign this signs in think and processes we as And see coming and signs moving time, earlier, demand, a the comes take of utilities mentioned see from collective even and lots just responses everything experimental understand really while still forward strong and this our of are, I some of of of powerful as announcement easier this

didn’t them funding, we’re And stimulus push about and that seeing are who can that that basis well. with as outliers Letters help yet, been see as we having intent those as a of coming forward we’ve conversations the on a on we about utilities good talking it federal for interest think really timely some well. touch but

The And Ryan, we that want so continue individual but speed seasoning as to each go frustrating transaction there to like, as haven’t movement of fast you anything we the market board. overall, the seen happen. see doesn’t add the to isn’t across forward it Anything, absolutely we’d that? indicating that of

Ryan Gerbrandt

Yes, talked elevate of very and evolving about to of your one imperative we I side how to we’re it the to thing. question, the a relates think a that, imperative I’d terms bit the the like want That as that complexity Simon. come strategic strategic back are positive to in to is near-term add deals, playing, little for issue critical only there’s being private that in strategic LTE to fact engaging we the – directly flip and kind solution but I broader the that the for plans. in relatable energy and LTE that this clean exploring is the seeing reliability, set goals, C-suite into their a and both private providing and cyber are plans tactical to broadband utilities reinforces for importance protections, outcome further logical

time indicators hearing been we’re we further critical that see from minute, of seeing we’ve are So And ultimately those out. private – as market for of picture a indicators how of play with while they’re all what only those but terms in aside trajectory on trajectory the logical big for in a the broadband. adoption the reinforce the terms general

Rob Schwartz

Go ahead, Simon.

Simon Flannery

$XX proceeds are receive year? that Tim, How had just this the clarification of to expecting through contracted coming a for in you I million much mid-XXXX. Yes.

Tim Gray

Simon, the question. for Yes. thanks

this about year. of $XX $XX that to million will Our get expectation we that million fiscal is

Simon Flannery

on color Any quarters? Great.

Tim Gray

bit fiscal year, that’s should we a spectrum, little but contracts based as No, we receive target a parameters those moving deliver the dollars. this of on of the

Simon Flannery

to be would fits reference the XXX, in. announcement any are that the on but Great. And know at color lot I ecosystem the for of great module. clarification utilities how interested then I with along that was CBRS in around multiband a or communications looking a

Rob Schwartz

Yes.

So module our that the the referenced release, multiband in we communications module.

are being we’re a we as onto card multiple for commonality for your bands talked like and – plus know, wireless of who integration CBRS – those don’t Those deploy a know bands, immediately, that as a CBRS. really it GE with a the the either on especially And that ability gets or used for you cellular is and gets to of – most fixed communications other out. complement cards carrier evolve to strong network have puts As have devices, working into of network with private having so slotted see using Cisco carriers, CBRS start and this, device or the XXX utilities on this module, about as the network. a it’s that, we those numerous communication those built have we’ve it licenses while unlicensed that that it

it, was for point at there we to So great functional did asking and collective the that our the economic to product, and that for create as vendors action the needed a all was across and but this, for take the help it’s crowd we’re sourcing being no shareholders. kind we the that of one a utilities of going that central that see and of it develop the highly us a benefit industry ecosystem example

Simon Flannery

Right. Thank you.

Operator

is with from Instructions] question for B. next Your Mike line [Operator your today coming Riley. live. Crawford Mike, is

Mike Crawford

intent Thank proposed you, include letters ranges? gentlemen. The megahertz of

Rob Schwartz

you can please? Mike, sorry, repeat I’m question, that

Mike Crawford

entities proposed ranges pricing the include LOIs by you? LOI entered of that megahertz terms areas pop in served of have the Do with

Rob Schwartz

Yes.

LOI’s range the and contained all they’re in them, in them, under to NDA. So and what

in indications and including there directional and getting general, well. reveal really of specifics, in but – pricing the the contract specifics, as contract can’t interest I So are

their to we utilities. again, and just indication move It’s utilities three us, a from as a for the path indication see the of Mike, of about those another directionally just, forward, so it’s Not only path forward. forward. commitment – good So and it volume

Mike Crawford

And auction previously? discussions that guide with megahertz XXX those been guidepost you’ve with that to the using and indications consistent AWS-X

Rob Schwartz

fair Yes, that we’re still being in confident, Mike, sure. about range value market for

all but And so of know, fair defines that parties that the that From wide you includes end our for the non-binding zone. in with as us in those experience market value a LOIs. it’s are to it and date, what conversations is our conversations up range,

Mike Crawford

of terms those guideposts price customers in serves think X And clearing in those in you the average Dominion auctions? average states. know I Do million what were in XX territories

Rob Schwartz

that Mike, that. We know, territories, from information it is can share service have. with as happy have to follow public up I but information. we the you offhand, There’s you don’t with

the math those looking so auctions. at just it’s prior And of

We’re happy with to up that. follow

Mike Crawford

Thank you. Okay.

Operator

I time for all to to the the would turn for Rob questions any that we gentlemen, floor and over today. have like Ladies is closing remarks.

Rob Schwartz

asset From that asset operator, the question timing you, standpoint, perfect marketplace on all very it’s sheet our how the a of and And from see an more in service our thank to convert to good we our see our a de This we very of have And interest very that drive to a flow, within electric on grid. that perspective. we – you, a facto we but and for us Thank really value day patience. for by retuning. is balance continue appreciate a asset goes important see sheet. everybody, questions. private our remains to of valuable that, through and more the that networks, Look, that the we continues cash that our increase for position as of every valuable provide nation’s effort we we balance

everybody. thanks, again, forward to talking So soon. to you We look

Operator

call. conclude and today’s conference Thank This gentlemen. ladies does you,

You may day. you this phone have at for disconnect your and a your wonderful time, Thank participation. lines

Anterix (ATEX) 20 May 222022 Q4 Earnings call transcript