WOODLAND PARK, N.J., Aug. 6, 2024 /PRNewswire/ -- Anterix (NASDAQ:ATEX) today announced its first quarter fiscal 2025 results and filed its Form 10-Q for the three months ended June 30, 2024. The Company also issued an update on its Demonstrated Intent metric which can be found on Anterix's website at www.investors.anterix.com/Q12025. First quarter fiscal 2025 Financial Highlights Executed a new spectrum sale agreement with Oncor Electric Delivery Company for a total of $102.5 million, of which $10 million was received in June 2024 Cash and cash equivalents of $51.7 million as of June 30, 2024 Returned $2.0 million to stockholders through share repurchases Spectrum clearing investment of $5.4 million Exchanged narrowband for a broadband license in 1 county and recorded a gain on exchange of a narrowband license for a broadband license of $0.1 million Conference Call Information Anterix senior management will hold an analyst and investor conference call to provide a business update at 9:00 A.M. ET on Wednesday, August 7, 2024. Interested parties can participate in the call by dialing 1-888-999-6281 and asking the operator to be joined into the Anterix call. International callers should dial 1-848-280-6550. 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 Inc.  At Anterix, we work 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 Hawaii, Alaska, and Puerto Rico, we are uniquely positioned to enable private LTE 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 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 the 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 (in thousands, except share and per share data) June 30, 2024 March 31, 2024 (Unaudited) ASSETS Current assets Cash and cash equivalents $                 51,715 $                 60,578 Spectrum receivable 10,999 8,521 Prepaid expenses and other current assets 2,972 3,912 Total current assets 65,686 73,011 Escrow deposits 7,577 7,546 Property and equipment, net 1,836 2,062 Right of use assets, net 4,493 4,432 Intangible assets 219,776 216,743 Deferred broadband costs 20,458 19,772 Other assets 1,312 1,328 Total assets $               321,138 $               324,894 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses $                   7,748 $                   8,631 Operating lease liabilities 1,807 1,850 Contingent liability 1,000 1,000 Deferred revenue 5,968 6,470 Total current liabilities 16,523