ATEX

MKT CAP:$847M

Anterix Inc.

Market Cap

$847M

Communication Services·Telecommunications Services·🇺🇸 United States·NASDAQ

Communication·Telecommunications·🇺🇸·NASDAQ

Stock Price

$44.01+$21.78 (+97.98%)

Apr 23, 2026

Company Details

Anterix Inc. operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks, technologies, ...

CEO

Scott A. Lang

IPO Date

Feb 3, 2015

Website

www.anterix.com

Key Metrics TTM

Revenue

$6M

+0.5% YoY

Net Income

$81M

EPS (Diluted)

$4.35

Free Cash Flow

-$45M

Revenue / Share

$0.32

Gross Margin

100.0%

Operating Margin

1407.5%

Net Margin

1370.9%

FCF Margin

-763.0%

P/S

142.8x

P/E

10.4x

Earnings Reports

Q3 2026

Feb 11, 2026

$2M+0.4%EPS -$0.35

Q2 2026

Nov 12, 2025

$2M+0.1%EPS $2.86

Q1 2026

Aug 12, 2025

$1M-7.0%EPS $1.35

FY 2025

Jun 24, 2025

$6M+43.9%EPS -$0.61

Q4 2025

Jun 24, 2025

$1M+10.2%EPS $0.49

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 22	$335.0K	$335.0K	-$11M
Q1 23	$335.0K	$335.0K	-$13M
Q2 23	$398.0K	$398.0K	-$11M
Q3 23	$578.0K	$578.0K	-$8M
Q4 23	$608.0K	$608.0K	$16M
Q1 24	$608.0K	$608.0K	-$3M
Q2 24	$1M	$1M	$2M
Q3 24	$1M	$1M	$969.0K
Q4 24	$1M	$1M	-$11M
Q1 25	$2M	$2M	-$15M
Q2 25	$2M	$2M	-$13M
Q3 25	$2M	$2M	$7M
Q4 25	$1M	$1M	$9M
Q1 26	$1M	$1M	$22M
Q2 26	$2M	$2M	$61M
Q3 26	$2M	$2M	-$9M

Valuation

Quarter	P/S	P/E
Q4 22	975.2x	—
Q1 23	625.5x	—
Q2 23	477.1x	—
Q3 23	385.5x	—
Q4 23	320.5x	—
Q1 24	274.0x	—
Q2 24	202.1x	76.9x
Q3 24	171.1x	38.3x
Q4 24	147.1x	—
Q1 25	142.1x	—
Q2 25	124.2x	—
Q3 25	96.1x	—
Q4 25	112.9x	—
Q1 26	80.4x	16.2x
Q2 26	68.9x	4.3x
Q3 26	68.2x	5.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	-$9M	-$20M
Q1 23	-$10M	-$16M
Q2 23	-$8M	-$14M
Q3 23	-$728.0K	-$9M
Q4 23	-$9M	-$15M
Q1 24	-$8M	-$13M
Q2 24	$10M	$5M
Q3 24	$34M	$29M
Q4 24	$6M	$4M
Q1 25	-$2M	-$8M
Q2 25	-$3M	-$3M
Q3 25	-$8M	-$2M
Q4 25	-$17M	-$22M
Q1 26	-$3M	-$7M
Q2 26	$1M	-$12M
Q3 26	-$8M	-$4M

Capital Expenditures

Quarter	CapEx
Q4 22	$11M
Q1 23	$7M
Q2 23	$6M
Q3 23	$8M
Q4 23	$7M
Q1 24	$5M
Q2 24	$5M
Q3 24	$5M
Q4 24	$2M
Q1 25	$5M
Q2 25	$41.0K
Q3 25	$5M
Q4 25	$6M
Q1 26	$4M
Q2 26	$13M
Q3 26	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	+85.1%	-2.2%
Q1 23	+84.1%	+10.4%
Q2 23	+118.7%	+485.4%
Q3 23	+50.1%	-29.6%
Q4 23	+81.5%	-235.3%
Q1 24	+81.5%	-74.3%
Q2 24	+164.3%	-110.9%
Q3 24	+119.9%	-96.6%
Q4 24	+107.2%	+178.1%
Q1 25	+150.8%	+379.8%
Q2 25	+47.4%	+1316.3%
Q3 25	+23.2%	-1909.9%
Q4 25	+10.2%	-168.0%
Q1 26	-7.0%	-227.4%
Q2 26	+0.1%	-502.7%
Q3 26	+0.4%	+294.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$4M	1068.1%
Q1 23	$4M	1232.2%
Q2 23	$5M	1178.6%
Q3 23	$5M	794.5%
Q4 23	$4M	734.0%
Q1 24	$4M	701.5%
Q2 24	$4M	364.8%
Q3 24	$4M	308.5%
Q4 24	$3M	276.4%
Q1 25	$4M	285.0%
Q2 25	$3M	219.7%
Q3 25	$3M	183.0%
Q4 25	$3M	209.6%
Q1 26	$4M	256.1%
Q2 26	$3M	189.9%
Q3 26	$2M	140.8%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q4 22	$767.0K	$10M	$1M
Q1 23	$1M	$11M	$1M
Q2 23	$980.0K	$11M	$1M
Q3 23	$936.0K	$12M	$1M
Q4 23	$1M	$10M	$2M
Q1 24	$1M	$12M	$1M
Q2 24	$1M	$12M	$1M
Q3 24	$1M	$11M	$1M
Q4 24	$2M	$9M	$2M
Q1 25	$2M	$13M	$2M
Q2 25	$2M	$11M	$1M
Q3 25	$1M	$9M	$1M
Q4 25	$1M	$9M	$2M
Q1 26	$1M	$10M	$1M
Q2 26	$1M	$8M	$1M
Q3 26	$1M	$9M	$1M

Revenue Segments

Quarter	Spectrum	Ameren Corporation	Motorola	Evergy
Q4 22	$335.0K	—	—	—
Q1 23	—	$153.0K	$182.0K	—
Q2 23	—	$152.0K	$182.0K	$64.0K
Q1 24	—	$152.0K	$182.0K	$274.0K
Q2 24	$444.0K	$152.0K	$182.0K	$274.0K
Q3 24	$700.0K	$152.0K	$182.0K	$274.0K
Q1 25	$801.0K	$156.0K	$182.0K	$386.0K
Q2 25	$802.0K	$182.0K	$182.0K	$385.0K
Q3 25	$801.0K	$197.0K	$183.0K	$385.0K
Q1 26	$801.0K	$206.0K	—	$385.0K
Q2 26	$884.0K	$206.0K	—	$385.0K
Q3 26	$904.0K	$206.0K	—	$385.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$106M	$0	$106M
Q1 23	$86M	$0	$86M
Q2 23	$70M	$0	$70M
Q3 23	$58M	$0	$58M
Q4 23	$43M	$0	$43M
Q1 24	$29M	$0	$29M
Q2 24	$49M	$0	$49M
Q3 24	$62M	$0	$62M
Q4 24	$61M	$0	$61M
Q1 25	$52M	$0	$52M
Q2 25	$43M	$0	$43M
Q3 25	$29M	$0	$29M
Q4 25	$47M	$0	$47M
Q1 26	$41M	$0	$41M
Q2 26	$48M	$0	$48M
Q3 26	$38M	$0	$38M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 22	18M	+0.4%	+3.7%
Q1 23	19M	+1.2%	+5.0%
Q2 23	19M	+1.8%	+6.0%
Q3 23	19M	-0.1%	+3.4%
Q4 23	19M	-0.0%	+2.9%
Q1 24	19M	+0.2%	+1.8%
Q2 24	19M	+0.8%	+0.8%
Q3 24	19M	-1.0%	-0.1%
Q4 24	18M	-2.3%	-2.3%
Q1 25	18M	+0.0%	-2.4%
Q2 25	19M	+0.5%	-2.7%
Q3 25	19M	+1.1%	-0.7%
Q4 25	19M	-0.4%	+1.2%
Q1 26	19M	-0.0%	+1.2%
Q2 26	19M	+0.0%	+0.6%
Q3 26	19M	-0.1%	-0.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 22	$4.6K	73
Q1 23	$4.6K	73
Q2 23	$5.5K	73
Q3 23	$7.9K	73
Q4 23	$7.4K	82
Q1 24	$7.4K	82
Q2 24	$12.8K	82
Q3 24	$15.5K	82
Q4 24	$14.7K	86
Q1 25	$17.7K	86
Q2 25	$18.0K	86
Q3 25	$18.2K	86
Q4 25	$16.5K	84
Q1 26	$16.9K	84
Q2 26	$18.5K	84
Q3 26	$18.7K	84

Revenue / Employee