The following is a summary of the Anterix Inc. (ATEX) Q3 2024 Earnings Call Transcript:
Financial Performance:
Anterix reported cash receipts of $190 million out of the $270 million worth of signed contracts, with the remaining $80 million expected to flow in over the next few years.
These cash flows would not significantly increase for the current fiscal year but expect about $15 million for FY 2025 with the rest spanning between FY 2026 and 2028.
The company spent about $8 million in the last quarter and $10.8 million in the previous quarter for share buybacks. There is an anticipation of continued activity under the $250 million program.
Revenue recognition from LCRA and Tego contracts is expected within the next 12 months.
Business Progress:
Anterix onboarded Tampa Electric, bringing its total number of utility customers to six and secured 3GPP standards approval to facilitate a 5G shift.
The company is tracking 18 prospective utility customers, representing about $1.1 billion in potential contracts, using a demonstrated intent scorecard.
Secured specifications in 3GPPs release 18, providing a clear migration path to 5G for utilities.
Anterix is backing numerous DOE funding applications under the bipartisan infrastructure law and has partnered with Southern States Energy Board and a national organization for Rural Cooperative Utilities.
Tom Kuhn, the new Vice Chairman of the Board, is providing the company with decades of energy industry experience.
The company plans to showcase the developed capabilities and solutions from its broadband network at DISTRIBUTECH, focusing on advancing cybersecurity for critical infrastructure, improving resiliency, and developing wildfire mitigation technology.
Anterix is also participating indirectly in DOE's PLC funding program alignment and supporting smart metering 2.0, the integration of renewables, residential solar, and enhancing connectivity through its broadband communications investment.
More details: Anterix IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.