WOODLAND PARK, N.J., June 26, 2024 /PRNewswire/ -- Anterix (NASDAQ:ATEX) today announced its fiscal 2024 fourth quarter and full fiscal year financial results and filed its 10-K for the year ended March 31, 2024. The Company also issued an update on its Demonstrated Intent metric which can be found on Anterix's website at http://www.investors.anterix.com/Q42024. Full Year FY2024 Financial Highlights Yielded positive cash flows primarily due to $106.5 million received in contracted cash proceeds from our customers Executed a new spectrum lease agreement with a Florida utility for a total of $34.5 million, of which $6.9 million was received in December 2023 Entered into a $30.0 million spectrum sale agreement with Lower Colorado River Authority, of which $15.0 million was received during the year ended March 31, 2024 Transferred the San Diego County and Imperial County broadband licenses to San Diego Gas & Electric Company and recorded a $7.4 million gain on sale of intangible assets Exchanged narrowband for broadband licenses in 28 counties and recorded a $35.0 million gain Cash and cash equivalents of $60.6 million as of March 31, 2024 Returned $24.7 million to stockholders through share repurchases Spectrum clearing investment of $17.0 million Fourth Quarter FY2024 Financial Highlights Received a $16.8 million milestone payment from Xcel Energy Exchanged narrowband for broadband licenses in 4 counties and recorded a $2.0 million gain Returned $6.0 million to stockholders through share repurchases Spectrum clearing investment of $2.2 million Conference Call Information Anterix senior management will hold an analyst and investor conference call to provide a business update and discuss the company's recently announced agreement with Oncor Electric Delivery Company at 9:00 A.M. ET on Thursday, June 27, 2024. Interested parties can participate in the call by dialing 833-816-1120 and asking the operator to be joined into the Anterix call. International callers should dial 1-412-317-1861. A replay of the call will be accessible on the Investor Relations section of Anterix's website at https://www.anterix.com/events/ About Anterix  At Anterix, we partner with leading utilities and technology companies to harness the power of 900 MHz broadband for modernized grid solutions. Leading an ecosystem of more than 100 members, we offer utility-first solutions to modernize the grid and solve the challenges that utilities are facing today. As the largest holder of licensed spectrum in the 900 MHz band (896-901/935-940 MHz) throughout the contiguous United States, plus Alaska, Hawaii, and Puerto Rico, we are uniquely positioned to enable private wireless broadband solutions that support cutting-edge advanced communications capabilities for a cleaner, safer, and more secure energy future. To learn more and join the 900 MHz movement, please visit http://www.anterix.com Forward-Looking Statements Certain statements contained in this press release constitute forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future events or achievements such as statements in this press release related to Anterix's business or financial results or outlook. Actual events or results may differ materially from those contemplated in this press release. Forward-looking statements speak only as of the date they are made and readers are cautioned not to put undue reliance on such statements, as they are subject to a number of risks and uncertainties that could cause Anterix's actual future results to differ materially from results indicated in the forward-looking statement. Such statements are based on assumptions that could cause actual results to differ materially from those in the forward-looking statements, including: (i) the timing of payments under customer agreements, (ii) Anterix's ability to clear the 900 MHz Broadband Spectrum on a timely basis and on commercially reasonable terms; and (iii) Anterix's ability to qualify for and timely secure broadband licenses. Actual events or results may differ materially from those contemplated in this press release. Anterix's filings with the Securities and Exchange Commission ("SEC"), which you may obtain for free at the SEC's website at http://www.sec.gov, discuss some of the important risk factors that may affect the company's financial outlook, business, results of operations and financial condition. Anterix undertakes no obligation to update publicly or revise any forward-looking statements contained herein. Shareholder Contact  Natasha VecchiarelliVice President, Investor Relations & Corporate Anterix Inc. Earnings Release Tables Consolidated Balance Sheets March 31, 2024 and 2023 (Unaudited, thousands, except share data) March 31, 2024 March 31, 2023 ASSETS Current assets Cash and cash equivalents $             60,578 $             43,182 Spectrum receivable costs 8,521 13,834 Prepaid expenses and other current assets 3,912 2,443 Total current assets 73,011 59,459 Escrow deposits 7,546 — Property and equipment, net 2,062 3,606 Right of use assets, net 4,432 3,371 Intangible assets 216,743 202,044 Deferred broadband costs 19,772 8,853 Other assets 1,328 1,225 Total assets $           324,894 $           278,558 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses $                8,631 $                6,624 Due to related parties — 533 Operating lease liabilities 1,850 1,725 Contingent liability 1,000 20,249 Deferred revenue 6,470 2,769 Total current liabilities 17,951 31,900 Operating lease liabilities 3,446 2,922 Contingent liability 15,000 — Deferred revenue 115,742 57,990 Deferred gain on sale of intangible assets 4,911 — Deferred income tax 6,281 5,440 Other liabilities 531 513 Total liabilities 163,862 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 March 31, 2024 and March 31, 2023 — — Common stock, $0.0001 par value per share, 100,000,000 shares authorized and 18,452,892 shares issued and outstanding at March 31, 2024 and 18,921,999 shares issued and outstanding at March 31, 2023 2 2 Additional paid-in capital 533,203 518,160 Accumulated deficit (372,173) (338,369) Total stockholders' equity 161,032 179,793 Total liabilities and stockholders' equity