ATEX - Earnings call transcript Q3 2025

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Operator

Good day, and thank you for standing by. Welcome to the Anterix Fiscal Third Quarter 2025 Investor Update Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Natasha Vecchiarelli. Please go ahead.

Natasha Vecchiarelli

good and operator, you, morning, everyone. Thank Vecchiarelli, Communications, and Natasha third fiscal update Vice you President Corporate and quarter call. investor 'XX Relations Investor year I'd our of to I'm like welcome to

Lang, Scott Tim Regulatory COO; CFO; and are today Officer. our me our and Gerbrandt, Gray, our CEO; Guttman-McCabe, Chris President and Communications our Ryan Chief Joining

operations may assumptions, Before actual and materially. current commercial that during everyone I to like remind our statements These the turn performance. involve could differ expectations regarding call, expected call and discuss we are I'd outlook, our cause statements over that to uncertainties future but to Scott, on risks forward-looking this results based they and

detailed our filings, factors XX-K to risk our results. investors that could review encourage impact We documents our SEC website. of on discussion are our available the for including a These Form and XX-Q

forward-looking please we update Finally, that note these not undertake to obligation any statements. do

turn Scott. now to the over I'll that, With call

Scott Lang

company, Good fiscal us what morning, Today, full the going everyone, thoughts and going are and share where works we there. I'm we have my have can about our and with job, improve. you now accomplished, we of we we and XXXX a months are how call. well to year third X into what who where I joining a going I'm as are to get for today idea earnings solid thank you for quarter

have we what accomplished. First,

extend with Colorado the coverage by Texas-based million XX% in Texas now State Texas. of LCRA's Authority, broadband ago, When the covered customer. we combined our its with agreement partnerships an weeks other few in counties great will utilities, XXX-megahertz Lower to be broadband to a of will a the River spectrum. counties our licenses broadband their additional coverage XXX expansion Just opportunity announce with the had $XX.X existing is

a sense XX private now than of scale Cellular. of utilities, you XXX-megahertz across make states, have the we LTE coverage U.S. total This us larger the incredible gives The where deployments. contracted with

joint a X including petition had are also megahertz with at solutions. the X filed our XxX already of experiencing organizations, of we We utilities, X which the fantastic FCC movement benefits the broadband on other

with FCC former a Under the Chairwoman notice closer along of of adopted Carr Simington, moving the band the Chairman proposed and Rosenworcel, to offering. XxX Commissioner rulemaking, leadership XXX-megahertz a

to While XxX XxX years expansion can satisfy roadmap today give decades follow. even for come, the utilities will demands utilities greater capabilities and the of to over a to this

identified we and annually immediate for significant also immediately measures bottom key we approximately not These Additionally, that we value deliver line. where XX% only efficiency. to without shareholders compromising can to lead operational can ensuring financial areas customers strength, position achieve have improving reductions to long-term continue us of while the cost but savings,

roughly stock undervalued value to program our third in to reflects that in shareholders belief business million delivering our our our in back the Finally, in we with have line our confidence market. our company's quarter. decision strategy, through is to $X commitment returned shareholders, the share currently repurchase This

at which proven winning rate have belief pricing to new aggressive example, and have our This For date. we the and on fuels be on scale can the contracts that a we fraction our reflects market with sold capitalization will of developed. and we focused our spectrum that ecosystem

alone. seeing solutions lab results have leaders XX the from we and LTE has states, But With are greater across deploying private X is member the what field. XXX-megahertz done quarter of by picture the our XXX-plus measurable much developed deploying customers These ecosystem. our than to the utility moved

driving with are of the leading name National as advanced Anterix the Energy clearly Department utility leader more. solutions utility working partners broadband have our team customers, at spectrum Labs, and innovation, of in EPRI, and sector. We our forefront Our such the organizations across placed the the the market

that And we where my going. focus, to second of are area leads me

the for been and where like to my on thoughts more are industry, nation's bridge the The share going; has movement the connected I and delivering industry I edge nearly secondly, grid to intelligence cross Anterix saw never this where has First, would we, of had with personally decades. they every are that we the going. and business. during a AMI home crossed to

the the Silver Anterix, Spring this to leader thought grid. second. Networks, where because the We prior intelligence CEO first, was movement edge we of possible that in to the distributed I became most device powerful network the was

The drive before. edge Today, advanced. devices never of the connected more as years and innovation critical greater. edge require to to that need been nearly more the XX later, the utilities more ubiquitously will to AI, more has be deliver demands and faster, must an securely more at than information grid the ever even of example, have intelligence edge even

are edge of at networks critical this continue for prepared Anterix the forefront digital to intelligence the wireless moment. grid. Private the the foundation deliver to of has providing to

We wireless are broadband network facto de leader. the private

will ecosystem use are and successful utilities cases our companies of We XXX-plus demonstrating scale the X today. with engage leading that of vast our

our It is our spectrum is integrated this evolution. offering, that driving not just

bringing join are technology partners partners, service utility of a providers, and to us. village We policymakers

and and successful to has We utility this path use will experience a value. best deployments ensure take of practices, timely to partnerships cases, every

of of now. the Texas highlighted can template reap powerful be with deliver example will across what the earlier, a village Those regions regional XXX-megahertz and as a of multi-utility under serve deal, This country. will have benefit other deployment utilities broadband contract. I for XX% this As we LCRA starting the

solution and enable to the country. to is region goal region Our scope throughout entire benefits from scale,

further get on are which announced I'm elaborate significant to initiatives, we to we yesterday. going excited there? X how So

I is referred to village earlier. first that initiative with The the

for industry shorten for As utilities utilities. the of leader initiative value recognized our of market vendors time to Anterix week to to wireless the wireless networks. and implementation address has from broadband that for The key this and are successful XXX-megahertz next joining ecosystem of private broadband plan engagement private are in forward new utilities, the multiple learn the launched ready to and a experience move wave Anterix customers current collective

additional pricing, our ecosystem of the terms, initiative. review products I aggressive collaboration pleased in with on an include am with industry's payment of reception services will participation initiative early and more. this and significant the This

solution that understand of Convening and and their an utilities providers then can needs invaluable product Anterix those this is to match offering needs group evolving to provide. and our unique offering only

the efforts. in last deal second participate to in inbound The leads had years private have the we And have strategic over LTE. great so interest done initiative. of this some me surprisingly, created XX has a we Not to work our with us interest

strategic launched have a review we process. Accordingly,

Morgan proceeds that field, this accelerate all on built consider these in executing XXX-megahertz networks, that opportunities positioned to expense drive turned growth, Stanley, approximately the million growth collect performance. $XXX date, deploy contracts great strong have company of our potential drive To in leaders to contracts, and million nearly still have wireless yet from $XXX and to to debt, X efficient is a is We pipeline modest, efforts. to a of opportunities signed base we to our will that dialed broadband private a very of

for will we our to for going have goal opportunities we are Morgan accomplished, With results strong examine we our and what excited performance deliver going Stanley, to I'm our get carefully and where we there. customers. are shareholders with and for how these

to now Chris. turn it I'll over that, With

Christopher Guttman-McCabe

the exciting I'm on that joint morning, to I an to petition It's XxX Good our everyone. the Scott. right. pleased Thank on FCC. am activity All day. going the have turn made very with an with the we progress share you, was filed you with update FCC. that to significant

by configuration. notice a to of a proposes the X-megahertz expand segment On current from proposed robust issued configuration January to its rulemaking XXX-megahertz XX, broadband the FCC that XxX more X-megahertz

context, but this its deemed expansion considered original premature previously provide the it that rulemaking, had time. in FCC To at XXXX

this proceeding the critical report in is do While to broadband a that FCC's to powerful the grid role the movement, the not private of a order, is only move communications also there economy. still adopt decision to advanced our utility endorsement to work but XXX-megahertz NPRM play and

It cases both our well Anterix customers strengthen and for only for secure enterprise but flexibility critical a The not wireless proposed new for as infrastructure ecosystem. utility other greater also expansion our use networks, it provide utilities, and growing milestone private our opportunities with country. utility demand partnerships XxX open the will and as marks to major up users for meet broadband businesses as the for will across

module just embodiment years of we needs standards the partner a FCC work You steward as Anterix, long-term XXX-megahertz utility our manufacturers, At at the as the bodies, Scott evolving infrastructure of sector critical chipset highlight and global and to committed role for to come. and are band, partner. to heard serve this the the serving our an the we do of ensuring as utilities see the We it continues approach. with the that work

the publication XX within Looking ahead, after the days comments Register Federal FCC that. will seek comment on NPRM in days after then XX and reply the public

to continue we work they you and filed more providing of and look as XX organizations than process develop. in to petition to with this engage in the the comments will that support with proceeding, We important forward updates

to Tim financial quarterly the over performance. I'll floor Now our review turn to

Timothy Gray

Anterix' XX-Q available everyone. website. filed a provided and solid a is third filing, morning, reflect overview for was in good position. and which Chris, our year financial our results 'XX Thanks, comprehensive We've quarter yesterday fiscal on

some of quarter. developments takeaways the from note some I'll now the and of highlight following the briefly of performance this quarter's conclusion key

'XX, of As of contract million, This million sheet to on a spectrum of date. a well incremental the received next capitalized. ahead successfully customers, remain of with January. $XX result delivery at in an initial tranche delivered ahead XX, we as led accelerating $XX well strategic timelines, of the customer at cash the select balance Combined we December our of cash and with increase contracted aimed was to end positioned of which approximately has delivery initiatives our

our we of to roughly uncollected support ongoing in important are receive position fiscal contract approximately XXXX. returning These not scheduled It's proceeds to $XX $XXX shareholders. but XX, also note during to our ending proceeds, operations, us value only incoming million million March continue that year to the

have mainly administrative flows. side, expense and significant results our cost in cost from further our reduction our savings which are third identified already the have from professional run this an fiscal and and reductions These year, XX% will rate associated consultant reductions increase rate our enhance services impacted and we with These annualized cash efficiency run second our operational general expenses. of approximately spend. our On successfully quarter quarter

$X.X repurchase we returned approximately to share million $X.X third in our fiscal Regarding quarter. shareholders program, year-to-date in have million including the 'XX,

to position mentioned, buybacks cash current strategic our we share position on returning will remains strong to cash Anterix repurchases continue continue previously execute of proceeds As calibrate on conditions. value substantial to our and approach opportunistic, in to based our outstanding, a With the financial market flow we and remains our amount priorities and shareholders. and contracted

that, With to I'll turn back over Scott. it

Scott Lang

With have I Tim. forward questions. questions the topics. now you call addressing look the to on might that, for for questions. open will Operator, we please Thanks, call any open these

Operator

George [Operator Instructions] the from from Our first will line Sutton question come Craig-Hallum. of

George Sutton

the at I from to of interest the we're the the from from So receive obviously, closer outside. lens XxX to it wanted to interesting, moving look just XxX. fact

you at equity of look spectrum. And Your all. your fraction value currently a it you're much at where as really hadn't selling changed also

obviously, you come the genesis to from? Is of has interest So suggests discounts the that ultimate think significant that values. this where

Scott Lang

the for Thanks George. question,

we such with I a a of from the publicly field question are lab And fact XXX-megahertz the I also X think to and large it they about comes from built performance cases what private broadband the do have that we from use think that of comes the customers and spectrum. that very ecosystem can talking moved the that. have have it

I comes the pipeline. think it from

from XxX, what though along. I XxX my further think that we've do our step as mentioned than to and got years it more for and so XX strength that just could this the the in I And one they XxX we've done is remarks, comes more pathway the industry fact possibly of everything satisfies even years,

to people's its I'm sure become no we fact of embrace And at big the so of in we're interest in strategic. of get one is jump on cast we've the companies. front what and theme financials mind getting going leader following the influenceable I'll been a this and look And and have a question, networks. and really range then had. market I've they when is leadership common this -- just to industry I from a common where is broadband the that the There's wireless that and interest such But of is kind

million of signing pipeline of think combine all of contracts, there's And no position left to financial that, the good, with there's proceeds our then debt, $XXX you obviously, $XXX million I is come, market at has when those interest. things, the where I spurred cap of is that been, think things those a external you yes, this combination all is look of what's company the of

George Sutton

other thing spurring very initiative. the I'm certainly has really not this? slow-moving utilities on not I market the that So appreciate one move utility Or can it really that. And clear this -- to industry I'm been is quicker your from clear for just what motivations serve. we about that's initiative. a

Scott Lang

the Is to is understand... I'm just -- Or would question now? what to us what what's this spurring I do make trying sure --

George Sutton

I'm of moves a utility position very slow. to take from naturally trying the who

to more them trying them trying to get We are drive this understand from rapidly. initiative to through move so this what's to do I'm going to initiative.

Scott Lang

to Silver When the the Spring years, was those it first own my from companies I really -- hard up to several I first X X time, we going. can the Yes. and refer power But back to seeing did, And once in about edge performance the get or they and got Networks and most able on speak that, and only experience. -- broadly the some were it. of just now. utilities we're there with of of communicate became that intelligence think wave -- more board a and I that distributing speaking at

of the cases of now a it's being and in I the heard. in been year. some the getting vocal spectrum performance it's to the that's close the clear We've are more those field, utilities delivering from cases, more field. and what the the field, And gone And use lab about and think for to in

And another around Board fact at this on the came currently there look right build but come XX-year our deliver will of you, pretty and the with ago, sense came now When to the interest and here of and this here we -- table I a months where I X of wave a strong just position didn't utilities. and or I seeing I career, tell I to me is we are, executives that XX- am urgency. next

on way X As an There them frictionless table the and in signed up in with I want directed, as sure ecosystem participate that And number as, to was and up be we a near board they team immediate creativity, have be example, X as the to are cases, "Yes, and are we ahead. to supporting we on reached I'm come bring to the pipeline. utilities response as the of first catch price, aggressive we -- to to up, some making next out this". that this X I've give a years as possible and already and in need

started. time us all gotten is get a that now think, what of to go to I combination point the has that, So is the is where

Operator

Our Riley next question will B. line the come Mike Crawford from of from Securities.

Michael Crawford

would the rate In case. long for December, timeframe what its from be got -- that would -- to Edison spectrum license? move the approval that When actual typically take typically that to would how Commonwealth finally -- from

Scott Lang

me to going with I'm Ryan, sitting who's jump to ask Mike, in. here

Ryan Gerbrandt

options terms in moving. go a that go how wouldn't they're Mike, go of of with I they I've a to that get frankly, the outcome support of single a step, help support lot getting variety procurement. be forward, regulatory different utilities it say proceed. over seen down that and for Obviously, kind of to path they necessarily that is ultimately Yes. they paths time was ultimately utilities Then of can big driving kind and is able exploring how a there different

and the picture is the clearly, terms I that ball say, answer terms that So give other precise across market. the of had Scott driving, the -- unfortunately, look initiatives entire any demand crystal laid But of market bigger as utility, timing. support seeing a I'll we're in like at growing to out, don't in have a is something the overwhelming

hopefully, time positive that these driving been with This tracking to that reasons utilities their that the with Exelon. continue of many need they've while on moment influences seeing the grow isn't capture continuing previous -- and of utilities. to in There's what's the external why, their program successes from completely that we're as and out are going we urgency we're measuring rolling and so a lot see disjointed

Michael Crawford

just would I cover POPs just whatever reach the the already for XX aggregate million in about Okay. population your of to be more million maybe prior the X of deals you can like then done U.S. covering broadly, And remind X that kind what or discussions by $XXX these you've in to auctions spectrum? could our And the us and calculations, inform think megahertz-POP close at, or goalposts the you on date. remaining $X.XX us that between used with you've some inform potentially to deals

Scott Lang

-- I'd by want is. You're we've the math you the can that got? make the our pretty you've to what that's specific POP. on question on say -- the answered I sure to right, per close average what's about way,

Michael Crawford

-- And have a that would Texas -- fair has a Manhattan low but -- Midtown obviously, be high service rural downtown a low value but is for market in area. -- area,

So working population in if the prior all would are where you AWS-X maybe discussions be take the that country, the in what today? goalpost you've framed like Or auctions? XXX-megahertz been towards, in remaining

Christopher Guttman-McCabe

then Mike, we the and it's Yes, put goalposts, things what are Those recent are those the are comparables. that. Chris. into right? logical And like transactions more play

when is extrapolate pricing be you that to both and drive a the to and referenced, at value, in cap also creative cap. extraordinary we a per stock sector. is what still to price but current market utility market room to is our megahertz-POP of shareholders, and lot for current got or the that look back it which back We've market interpolate Scott think pricing you what I room -- new or have forward our our of

yes, goalposts are so use when that And value. talk we market fair those we the about

real to using pushing right? And actually offering with in us Manhattan, so obviously as price authorized New than York to Scott is creative be is correct but we has what is Texas or Manhattan, the different our sort the in point order move. analogy, as Kansas, and yes, you're can Manhattan, to -- of estate very, very a make do be

you make I think frictionless. frictionless, the used, word was utilities just the for move Scott,

Michael Crawford

I'll just Okay. And maybe one question. last try

offer are very when you more to make if there a So to that solution, holdings, markets and and if ability able already an I spectrum where it be you would think, others XxX not -- get do would your where difficult. certain

So is bifurcate at kind have areas don't a position for quickly markets that be I position of know, kind spectrum where where us would other there of move any way different you holdings could people or a like to you're in frame like, all? and in -- Boston,

Christopher Guttman-McCabe

Yes. it. Again, it's Mike, Chris. I'll take

forward move a For country we from by a And then perspective, of take percentage very could quickly. the the for pretty markets, going we're opportunity. significant rest county of opportunity to the it

a and to incumbents policy on our fantastic enlist would get as sector, happen more to a But all, work and of for if work between order. of XX% XxX, -- lot obviously, would the were utility a So of, they now to the who of that report cleared teams and have XxX say, utility I in would and wants already than XxX. first spectrum clearing we the the to the benefit spectrum

that ultimately need And our XxX capability. team we go to to we to -- place that cut get the wants will have where to that comfortable cut very in utility that We're us to the to XxX. have deals they as the contracts has authority

unique do offering to with things the to go fingers of They can our right? crossed. ability makes they start that this One Ultimately, XxX, incrementally, XxX. hopefully, utilities the really for can is

team us their With to structure very that able pay X to Ryan can in matches have our They gives adding a and to deal flexible XxX sales a budget. even contracts. debt, then flexible with utility. creating our in to And we're each to sort been be be way the these successful how on customers. be us mix bespoke And of opportunity just greater creative and for

Operator

of question Chaplin Jonathan next will Street Research. New the Our from come line from

Jonathan Chaplin

actually. couple A

the those payments XxX, basis they Or would where sort deals of it's as to would sort -- delivered access access you deals megahertz-POP counties signed? already would get on get expect already the of you've for the from on incremental XxX And So automatically? a to them signed a would that customers to it that? they've same the be once

Scott Lang

would I'll for come. can XxX take it to might to future to for would would that, decades say be say, and I to strategic be jump associated there be be XxX looking I demand that would up I them over ask Chris I yes, that gobble be table is and with just or that. the reasons to very would that then, that us the there would with have say Tim in. that, the would yes, value negotiating we interested at a negotiate they But

believe XxX. time sit do Specifically do we'll regarding the when and with some pricing to too it's to will the will that encourage value for it. say. on expand -- work it's when that availability need that deal make We their and right early it's to come, it We that, with to to pricing we the I comes, utilities need sure down time

Jonathan Chaplin

working of had yet, to greater already so your a the the of the sort incremental you bought it's if opposite a and X? know. gets what negotiations haven't I that the already get thinking you X-megahertz difficult volume utility that much on But so XxX any is way than of these it of Or that get incremental you've you've done? a is higher really is where sort price X discount

Scott Lang

XxX don't they're that. there mine. would I bandwidth with us more years I customers, -- blown they're I that's discount cases, the better I than testimonials is valuable, your the they use the confidence by X of less what of gives would But The But would our that number think and certainly spectrum is using necessarily spectrum. say say XxX. want in the XxX, -- fraction it's bandwidth the are That's think of and volume words, not away left. they're there's the I'm

a think to them would for love pay that. for we there'd price So have to it. be And I

don't that get there want to don't of your fully. know -- a I that ahead question There's if answers lot we ourselves.

some work there's said, done. Chris to be As

We term process now. pleased it going the We if right will us is through it hard are be very anticipate continue go the at which with you us in predict that speed well. able to as And term. we going It's to near and or updating that's to the for be communicate time what closer, to medium it will your gets that comes, to when of more with regarding models. all means

Jonathan Chaplin

any And is to might in those there is bidding anyone in piece? any way be that XxX? there -- incremental there tension the for interested create to the Is else markets way

Christopher Guttman-McCabe

way, doesn't going rules proposed your now, right? the be I'm take use oil cases. XX-plus there -- that on the same, laser-focused -- for and So Jonathan, XX-plus That are right gas pipeline the utility The other the applying and will different of but it's that in we question sort And way are of in are mean from and Chris. overwhelming Anterix. the uses a to inbounds structure and sector. the not is percent counties

utilities, things be In within is of situated goal serve customers, their that. similarly their to whether utility one footprint, it other fact, like our specifically users

And capacity so capability. them will that additional this give

expand to the where come the the wait to so fruition. for we to applying to see XxX, that's of from we XxX with proceeding to it. the And have But obviously, for regard sort

and would would licensed the the be entity And commitment forward. that's for way half up But We look overwhelming that now vast and at majority block than that this spectrum. -- the our of of Anterix, play. gets to vast, market this the the marketplace the has evergreen of it more set is counties, majority, the it's to that spectrum in majority move how to right vast, as utility is also entity

Jonathan Chaplin

you anything remaining my to question pay this, expected the And XxX? last for the on would be FCC

Christopher Guttman-McCabe

that Jonathan, again? say

Jonathan Chaplin

incremental cost what to spectrum? And it? pay be the would Would expected the you be for of

Christopher Guttman-McCabe

Yes.

and XxX auction under and -- the so XXX-megahertz the structure. continue to that that the Anterix, the unjust next on prices, phase. And again, propose structure, same an makes, to And continue current payment licensee, rules is based enrichment there's in the propose they the it

spectrum the that comes that's payment. shelf, So the any off

their So to -- forward make and planning in another enrichment. toolbox for sure allocation includes there easy assignment. move for it there's structured making no we and give the purposefully this And spectrum to to is no windfall, spectrum them tool that that unjust FCC no

Operator

Instructions] come from JPMorgan. next the question Our Jerome [Operator Darling of from will line

Jerome Darling

about Congrats the You investors XX-plus the the $X cost is 'XX little valued should at CapEx the the have controls year for how guys And entire billion. should past kind question on think XxX approval? then for to about value quarter. fiscal the differently, of in I Like spoken reduction How a and asking the customers we XX% see perhaps XXXX? XQ here, about think bit the on encouraging. both of fiscal XxX, assuming in deal pipeline, guess

you that in more XxX you can the see than do one, Assuming greater $X approved, of pipeline XX-plus serve gets fully customers? billion? a And than value

Scott Lang

take to first OpEx you the one the do please? CapEx, and that regarding want Tim,

Timothy Gray

thanks the Yes. And, for question. Sure, Jerome, Scott.

talked move so we expect the savings quarter-to-quarter savings Just continued immediate that $X.X about you on to as of discussed. see out know, expenses, majority And I forward million the side. the was about as with G&A of OpEx coming I that we

what $X et than but that be will in about that's customers, our CapEx, I $XX less the delivery, million range, spectrum of we're timing spend clearing. maybe to a would the current cetera, on for next million, year, expect million of consistent remain probably currently going on to timing dependent And $XX this we view. to in clearing, quarter that little we're

Jerome Darling

on -- XxX the then And XxX... Okay.

Scott Lang

Yes.

the responsibility the When that a the that Okay. that bring to emphatic between I'm number of makes and that that, it's which value. date total say why those is large customers market $XXX things, across have Yes, pent-up this we represents, aggressively that those very the the And position total drive it, would call with on value into larger. at our number. XX% POPs XxX it's the of regarding next look States, we've I to so remaining million signed as United we leadership and are existing customers recognizing market. X leader, a

So number where very an to say than today our you give other number. that to fingertips. And at not large I'm lands, prepared a it's right it's there exact

them, learn looking out this to industry do room doing help in reached to a that. are the Ryan, anything are kind to we decided we of And that few just of talking really some XxX. of interest, to we've across respected going with. And get launch front in days. put be do this our last it, And to there out this utilities the utilities up shown of about we cases, the an And next, one to at can they most formal so been a that that we what of use have really largest, with the process, deployments last faster, table the and comment where we over COO. far utilities on able move have to of are wave and that, We do just I'm next lot the

both near on another. our up of to understand the -- with best we the decision I to it table talent one, yes immediate do but people were is was our them to responses Commercial is, we can of of to take participate spectrum optimistic in were it that whatever the off sides them structure. And think work the both best at would of was their what's time want we pricing talent. table this, holding I flexibility commercial really and and And helping -- team put

over us to the have we is. to process have as lot the where think the on pricing. to And that I a we is this aggressive next show be room, few And flexibility going months

said, market that market I go to prices our we're it then a we've As that value it. even cap from takes, that's still drive see And of we've what fraction performance is the the what and had to seen, if going lowest some to. into

anything that? Ryan, want add to do to you

Ryan Gerbrandt

we've the and activities the of customers shared to their interest market of a the summarize success I able including X the hitting highly of part. experiences, seen we've gotten stories think mean, all accumulation Jerome, and years. is we've over to to the last participate side reaction that immediately big kind where it's the be the to the like gotten related and this, and demand X I kind it I'd X

very underestimate can't Broadband their to million importance through that to just you this prepared and spending that deep And the their organizations utilities at look a kind XX like are provides. time while, have of going level of for process their use cases, future go the critical the represent a earlier, who enhancing the reliability, actual this million Utility Alliance understanding XX importance been right, who DISTRIBUTECH, like at its getting connecting understand of as consumers either grid, point people, the they energy those that POPs, securing to, the towards broadband homes, resiliency, in

of more with formal will value but terms directly they us interest in think, this And their optimize in And offering to to the able a for lot the shareholders. and a in of as all context educate meeting sure explore engage to want make more interest the the they program them us journey we under everybody's how be way the not where creation participating, to just XxX, I encouraging to for we're very XxX. are is that

Christopher Guttman-McCabe

valuable about And I So petition to put with hard question; asked right? add, asked a want referenced that right? to thing One worked utilities value is right? very valuable to by But you other together organizations clearly also Anterix. just to a it But win, in a is value. be It Jonathan win, it Yes. Jerome, XX magnitude, order of extremely that our XxX support. question; customers win, was could asked and a Anterix. it is a an to We evidenced filing Mike X win, question is utility Scott of it And purposeful. clearly entities as our

of terms spectrum not to let's that is years. their on FCC books and it policy, valuable that But good the it's the to revenue getting really the They're spectrum lose fact Treasury. for sat reality last U.S. in for valuable of also XX the

for makes been that And way that's so outcome this a is this. at the by we and elements the And that, are our of architected a all it look in positive when engaged folks impacted goal. this, that

Operator

Scott to closing further in our call over CEO, like no questions turn the Showing the for to queue, Lang, back remarks. I'd

Scott Lang

out to broadband that this partners. for industry I and call Anterix. in a be Thank joining customers, to to team, my existing participating our here you, at to a everyone, time with of leaders I'm at the do our to move be to fortunate really today. the want to call our point are XxX going XxX effort on the out wireless all networks

back pipeline, it and this, ecosystem of at in, continue to leadership, our and to for innovation the $XXX on customers, investment of hard great here, no months come. into million many went to XX lot Market advocates, contracts, a X contracts, years that $XXX I left us that and those strong there's like. of the decades get our collect path million from the work investors big partners a to on big healthy entire when just and look can And the debt, by XxX to team stay

forward. good a and updated Have as I to progress you everybody we it's updating turning move and today, appreciate day. place on look we'll So a our you to forward in good keeping be.

Operator

does Thank the you your program. today's for in conference. This participation conclude

You great may a now have Everyone, day. disconnect.

Anterix (ATEX) 12 Feb 252025 Q3 Earnings call transcript