Anterix (ATEX) Financials

$60.90 +2.12 (+3.61%)

Closing price 05/20/2026 04:00 PM Eastern

Extended Trading

$60.90 0.00 (0.00%)

As of 05/20/2026 06:40 PM Eastern

Annual Income Statements for Anterix

This table shows Anterix's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-15	-22	-39	-25	-42	-38	-54	-38	-16	-9.13	-11
Consolidated Net Income / (Loss)	-15	-22	-39	-25	-42	-38	-54	-38	-16	-9.13	-11
Net Income / (Loss) Continuing Operations	-15	-22	-39	-25	-42	-38	-54	-38	-16	-9.13	-11
Total Pre-Tax Income	-15	-22	-33	-31	-41	-35	-54	-37	-15	-7.52	-9.48
Total Operating Income	-14	-22	-33	-32	-43	-38	-55	-37	-16	-10	-12
Total Gross Profit	2.11	0.08	-2.26	-1.54	-3.94	-1.27	-0.69	1.08	1.92	4.19	6.03
Total Revenue	3.17	0.92	4.79	6.36	6.50	1.56	0.92	1.08	1.92	4.19	6.03
Operating Revenue	3.17	0.73	4.79	6.36	6.50	1.56	0.92	1.08	1.92	4.19	6.03
Total Cost of Revenue	1.06	0.84	7.05	7.90	10	2.83	1.61	0.01	0.00	0.00	0.00
Total Operating Expenses	16	22	31	30	39	36	54	38	18	14	18
Selling, General & Admin Expense	13	17	23	21	20	25	39	40	45	44	43
Marketing Expense	1.81	3.96	5.65	6.97	3.67	4.06	2.94	4.46	5.73	5.69	6.11
Research & Development Expense	1.00	1.32	2.32	2.35	2.29	2.95	4.34	3.59	4.44	5.70	5.74
Depreciation Expense	-	-	-	-	2.85	3.59	3.53	1.45	1.42	0.84	0.55
Other Operating Expenses / (Income)	-	-	-	-	-	-	-	-	-	-35	-23
Restructuring Charge	-	-	0.00	0.00	9.60	-	-	-	-	0.00	3.77
Other Special Charges / (Income)	-	-	-	-	-	0.15	3.92	-11	-38	-7.32	-18
Total Other Income / (Expense), net	-0.55	0.10	0.10	0.66	1.43	2.30	0.50	0.31	1.41	2.61	2.23
Interest & Investment Income	0.02	0.10	0.13	0.74	1.46	1.80	0.09	0.06	1.14	2.37	2.16
Other Income / (Expense), net	-	0.00	-0.03	-0.08	-0.03	0.50	0.41	0.26	0.27	0.23	0.08
Income Tax Expense	-	-	6.50	-6.50	0.69	2.40	0.12	0.98	1.26	1.61	1.89
Basic Earnings per Share	($1.46)	($1.54)	($2.72)	($1.70)	($2.88)	($2.29)	($3.13)	($2.07)	($0.87)	($0.49)	($0.61)
Weighted Average Basic Shares Outstanding	10.05M	14.16M	14.39M	14.45M	14.58M	16.42M	17.41M	18.14M	18.84M	18.77M	18.56M
Diluted Earnings per Share	($1.46)	($1.54)	($2.72)	($1.70)	($2.88)	($2.29)	($3.13)	($2.07)	($0.87)	($0.49)	($0.61)
Weighted Average Diluted Shares Outstanding	10.05M	14.16M	14.39M	14.45M	14.58M	16.42M	17.41M	18.14M	18.84M	18.77M	18.56M
Weighted Average Basic & Diluted Shares Outstanding	10.05M	14.16M	14.39M	14.45M	14.58M	16.42M	17.41M	18.93M	19.04M	18.57M	18.70M

This table shows Anterix's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	16	-2.12	2.07	0.33	-9.41	-16	-13	7.71	25	54	-6.60
Consolidated Net Income / (Loss)	16	-2.12	2.07	0.33	-9.41	-16	-13	7.71	25	54	-6.60
Net Income / (Loss) Continuing Operations	16	-2.12	2.07	0.33	-9.41	-16	-13	7.71	25	54	-6.60
Total Pre-Tax Income	16	-2.36	2.72	1.67	-9.54	-14	-13	7.48	23	61	-8.65
Total Operating Income	16	-2.84	2.26	0.97	-11	-15	-13	7.03	22	61	-9.06
Total Gross Profit	0.61	0.61	1.05	1.27	1.26	1.53	1.55	1.57	1.42	1.55	1.57
Total Revenue	0.61	0.61	1.05	1.27	1.26	1.53	1.55	1.57	1.42	1.55	1.57
Operating Revenue	0.61	0.61	1.05	1.27	1.26	1.53	1.55	1.57	1.42	1.55	1.57
Total Cost of Revenue	-	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	-15	3.45	-1.21	0.30	12	17	15	-5.47	-21	-59	11
Selling, General & Admin Expense	10	12	12	11	9.59	13	11	9.20	10	8.40	8.66
Marketing Expense	1.95	1.28	1.31	1.38	1.73	1.85	1.36	1.31	1.49	1.45	1.44
Research & Development Expense	1.43	1.07	1.15	1.24	2.24	1.75	1.78	1.12	1.12	1.21	1.10
Depreciation Expense	0.31	0.25	0.21	0.20	0.19	0.18	0.15	0.14	0.12	0.13	0.10
Other Operating Expenses / (Income)	-	-	-	-	-	-0.09	0.00	-21	-34	-60	-0.81
Restructuring Charge	-	-	-	0.00	-	0.00	0.00	3.51	0.62	0.74	0.47
Other Special Charges / (Income)	-29	-11	-16	-14	-1.98	0.00	0.00	0.00	-0.95	-11	-0.33
Total Other Income / (Expense), net	0.50	0.48	0.46	0.70	0.97	0.71	0.59	0.44	0.44	0.38	0.41
Interest & Investment Income	0.47	0.39	0.40	0.67	0.93	0.69	0.59	0.43	0.44	0.38	0.34
Other Income / (Expense), net	0.03	0.10	0.06	0.03	0.04	0.02	0.01	0.01	0.00	0.00	0.07
Income Tax Expense	0.64	-0.24	0.65	1.34	-0.13	1.22	0.23	-0.23	-2.26	7.52	-2.05
Basic Earnings per Share	$0.82	($0.11)	$0.11	$0.02	($0.51)	($0.84)	($0.69)	$0.41	$1.35	$2.86	($0.35)
Weighted Average Basic Shares Outstanding	18.84M	18.95M	18.92M	18.70M	18.77M	18.49M	18.59M	18.61M	18.62M	18.69M	18.68M
Diluted Earnings per Share	$0.82	($0.11)	$0.11	$0.02	($0.51)	($0.84)	($0.69)	$0.41	$1.35	$2.86	($0.35)
Weighted Average Diluted Shares Outstanding	18.84M	18.95M	19.11M	18.92M	18.77M	18.49M	18.59M	18.78M	18.70M	18.71M	18.68M
Weighted Average Basic & Diluted Shares Outstanding	19.04M	18.59M	18.77M	18.52M	18.57M	-	18.62M	18.59M	18.74M	18.72M	18.73M

This table details how cash moves in and out of Anterix's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Net Change in Cash & Equivalents	120	34	-29	-26	-22	61	-20	-12	-62	25	-13
Net Cash From Operating Activities	4.25	-20	-27	-22	-23	-28	-9.96	18	-27	42	-29
Net Cash From Continuing Operating Activities	4.25	-20	-27	-22	-23	-28	-9.96	18	-27	42	-29
Net Income / (Loss) Continuing Operations	-15	-22	-39	-25	-42	-38	-54	-38	-16	-9.13	-11
Consolidated Net Income / (Loss)	-15	-22	-39	-25	-42	-38	-54	-38	-16	-9.13	-11
Depreciation Expense	0.10	0.56	2.23	2.85	2.85	3.59	3.53	1.45	1.42	0.84	0.55
Non-Cash Adjustments To Reconcile Net Income	6.96	4.97	4.84	5.95	14	3.32	19	2.16	-20	-28	-28
Changes in Operating Assets and Liabilities, net	12	-3.49	5.61	-6.21	1.97	2.90	22	52	8.12	78	10
Net Cash From Investing Activities	-97	-11	-2.39	-2.88	-1.67	-7.56	-14	-27	-27	8.09	23
Net Cash From Continuing Investing Activities	-97	-11	-2.39	-2.88	-1.67	-7.56	-14	-27	-27	8.09	23
Purchase of Property, Plant & Equipment	-6.35	-9.09	-1.64	-0.95	-0.72	-0.46	-0.23	-1.05	-2.13	-0.31	-0.09
Acquisitions	-90	-2.07	-0.75	-1.93	-0.94	-7.10	-14	-26	-25	-17	-18
Divestitures	-	-	-	-	-	-	-	-	0.00	25	41
Net Cash From Financing Activities	212	65	-0.49	-0.90	3.16	96	4.22	-2.42	-8.06	-25	-6.59
Net Cash From Continuing Financing Activities	212	65	-0.49	-0.90	3.16	96	4.22	-2.42	-8.06	-25	-6.59
Repurchase of Common Equity	-	-	-	-	-	0.00	0.00	-15	-8.22	-25	-8.40
Other Financing Activities, net	10	0.05	0.01	-0.40	3.16	1.87	4.22	13	0.16	-0.46	1.81

This table details how cash moves in and out of Anterix's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-14	-14	14	21	-1.43	-8.83	-8.56	-14	-6.45	-0.11	-11
Net Cash From Operating Activities	-8.57	-8.21	4.57	34	6.14	-2.36	-2.65	-7.70	-3.14	1.40	-8.27
Net Cash From Continuing Operating Activities	-8.57	-8.21	4.57	34	6.14	-2.36	-2.65	-7.70	-3.14	1.40	-8.27
Net Income / (Loss) Continuing Operations	16	-2.12	15	0.33	-9.41	-16	-13	7.71	25	54	-6.60
Consolidated Net Income / (Loss)	16	-2.12	15	0.33	-9.41	-16	-13	7.71	25	54	-6.60
Depreciation Expense	0.31	0.25	0.28	0.20	0.19	0.18	0.15	0.14	0.12	0.13	0.10
Non-Cash Adjustments To Reconcile Net Income	-24	-7.19	-23	-9.95	1.40	4.16	3.31	-16	-28	-68	1.03
Changes in Operating Assets and Liabilities, net	-0.15	0.85	12	43	14	8.83	6.66	0.07	-0.16	16	-2.80
Net Cash From Investing Activities	-6.52	-5.20	20	-4.54	-2.26	-5.40	-5.55	-1.72	-2.67	-0.60	-2.30
Net Cash From Continuing Investing Activities	-6.52	-5.20	20	-4.54	-2.26	-5.40	-5.55	-1.72	-2.67	-0.60	-2.30
Purchase of Property, Plant & Equipment	-0.58	-0.03	-0.21	-0.06	-0.04	-	-	-	-	-	-0.01
Acquisitions	-5.94	-5.17	-4.68	-4.73	-2.22	-5.40	-5.50	-1.72	-3.97	-13	-2.65
Divestitures	-	-	-	0.25	-	0.00	-	-	1.30	13	0.36
Net Cash From Financing Activities	0.76	-0.75	-11	-8.09	-5.30	-1.07	-0.36	-4.89	-0.64	-0.91	-0.01
Net Cash From Continuing Financing Activities	0.76	-0.75	-11	-8.09	-5.30	-1.07	-0.36	-4.89	-0.64	-0.91	-0.01
Other Financing Activities, net	0.76	-0.75	-1.97	-0.12	0.67	0.96	-0.36	-0.48	-0.64	0.08	-0.01
Cash Income Taxes Paid	-	0.00	0.00	-	-	-	-	0.17	-	-	3.05

This table presents Anterix's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Total Assets	228	274	245	220	197	267	253	278	279	325	333
Total Current Assets	121	155	126	100	78	142	121	116	59	73	61
Cash & Equivalents	120	153	124	98	77	137	118	106	43	61	47
Note & Lease Receivable	-	-	-	-	-	-	-	-	-	0.00	2.93
Prepaid Expenses	0.63	0.91	0.87	0.85	1.18	4.64	3.51	10	2.44	3.91	2.80
Other Current Assets	-	-	-	-	-	-	-	-	14	8.52	7.65
Plant, Property, & Equipment, net	6.38	15	15	13	9.83	7.00	3.57	2.95	3.61	2.06	1.30
Total Noncurrent Assets	101	104	105	107	109	118	128	159	215	250	271
Intangible Assets	101	104	105	107	108	112	122	151	202	217	229
Other Noncurrent Operating Assets	0.03	0.06	0.37	0.49	0.85	6.68	6.31	8.16	13	33	42
Total Liabilities & Shareholders' Equity	228	274	245	220	197	267	253	278	279	325	333
Total Liabilities	14	12	18	12	16	22	41	92	99	164	177
Total Current Liabilities	7.18	5.06	4.72	5.23	8.84	8.82	8.62	9.64	32	18	27
Short-Term Debt	-	0.49	0.50	-	-	-	-	0.00	20	1.00	8.09
Accounts Payable	6.44	3.83	3.44	4.42	5.29	5.76	6.41	6.65	6.62	8.63	9.08
Accrued Expenses	-	-	-	-	-	-	-	-	-	0.00	2.27
Current Deferred Revenue	0.74	0.75	0.79	0.81	0.79	0.73	0.74	1.48	2.77	6.47	6.10
Other Current Liabilities	-	-	-	0.00	2.76	2.33	1.47	1.51	2.26	1.85	1.67
Total Noncurrent Liabilities	6.44	6.80	13	6.58	7.15	14	32	82	67	146	149
Noncurrent Deferred Revenue	6.38	5.65	5.03	4.26	3.47	2.73	2.25	53	58	116	119
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	6.50	0.00	0.69	3.08	3.21	4.19	5.44	6.28	6.61
Other Noncurrent Operating Liabilities	0.06	0.66	1.34	2.33	3.00	7.69	26	25	3.44	24	24
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	214	262	228	209	181	245	213	186	180	161	157
Total Preferred & Common Equity	214	262	228	209	181	245	213	186	180	161	157
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	214	262	228	209	181	245	213	186	180	161	157
Common Stock	256	326	331	336	349	451	473	500	518	533	549
Retained Earnings	-42	-63	-103	-127	-168	-206	-260	-314	-338	-372	-392

This table presents Anterix's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2022	9/30/2022	12/31/2022	6/30/2024	9/30/2023	12/31/2023	9/30/2024	12/31/2024	6/30/2025	9/30/2025	12/31/2025
Total Assets	264	256	258	321	280	321	317	327	360	420	417
Total Current Assets	98	82	72	66	62	78	57	40	55	59	50
Cash & Equivalents	86	70	58	52	49	62	43	29	41	39	30
Note & Lease Receivable	-	-	-	-	-	-	-	-	0.00	0.00	0.00
Prepaid Expenses	12	12	15	2.97	14	16	1.58	3.14	3.36	3.19	3.47
Other Current Assets	-	-	-	11	-	-	12	8.35	11	17	17
Plant, Property, & Equipment, net	2.59	3.32	3.34	1.84	2.32	2.13	1.73	1.58	1.17	1.02	0.92
Total Noncurrent Assets	163	171	182	254	215	241	259	285	303	361	366
Intangible Assets	155	159	170	220	198	214	222	246	265	325	331
Other Noncurrent Operating Assets	8.60	11	12	34	18	27	37	39	38	35	35
Total Liabilities & Shareholders' Equity	264	256	258	321	280	321	317	327	360	420	417
Total Liabilities	90	90	99	172	104	149	178	182	175	180	181
Total Current Liabilities	8.97	30	31	17	15	17	16	24	36	35	36
Short-Term Debt	-	20	20	1.00	1.41	1.00	1.00	5.40	19	8.80	9.15
Accounts Payable	5.21	5.51	6.68	7.75	7.00	8.21	7.09	9.01	6.62	15	15
Accrued Expenses	-	-	-	-	-	-	-	2.29	2.36	2.70	2.69
Current Deferred Revenue	2.19	2.51	2.66	5.97	5.28	6.16	5.92	5.96	6.34	6.87	7.87
Other Current Liabilities	1.57	1.63	1.75	1.81	1.61	1.89	1.81	1.75	1.56	1.43	1.41
Total Noncurrent Liabilities	81	60	67	156	88	131	162	158	139	145	145
Noncurrent Deferred Revenue	52	51	59	115	75	101	121	120	122	124	125
Noncurrent Deferred & Payable Income Tax Liabilities	4.39	4.60	4.81	7.34	5.81	6.33	7.67	6.74	4.10	6.49	6.14
Other Noncurrent Operating Liabilities	24	3.92	3.73	34	7.68	24	34	31	13	15	14
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	175	166	159	149	176	172	139	145	185	240	236
Total Preferred & Common Equity	175	166	159	149	176	172	139	145	185	240	236
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	175	166	159	149	176	172	139	145	185	240	236
Common Stock	504	508	513	539	525	529	542	544	552	555	557
Retained Earnings	-330	-342	-354	-390	-349	-357	-402	-399	-367	-314	-321

This table displays calculated financial ratios and metrics derived from Anterix's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
DEI Shares Outstanding	12,530,493.00	14,291,662.00	14,342,872.00	28,946,034.00	14,695,640.00	17,166,282.00	17,586,356.00	-	-	-	18,586,786.00
DEI Adjusted Shares Outstanding	12,530,493.00	14,291,662.00	14,342,872.00	28,946,034.00	14,695,640.00	17,166,282.00	17,586,356.00	-	-	-	18,586,786.00
DEI Earnings Per Adjusted Shares Outstanding	-1.17	-1.53	-2.73	-0.85	-2.86	-2.19	-3.10	-	-	-	-0.61
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-10.39%	-71.03%	420.89%	32.76%	2.27%	-75.93%	-41.11%	17.70%	77.03%	118.40%	43.90%
EBITDA Growth	-1,600.96%	-51.94%	-43.07%	5.30%	-37.85%	16.22%	-52.07%	30.91%	57.96%	38.78%	-22.62%
EBIT Growth	-1,497.68%	-54.83%	-49.62%	3.07%	-34.47%	13.40%	-46.87%	32.73%	55.74%	38.94%	-17.70%
NOPAT Growth	-1,497.68%	-54.84%	-49.49%	3.22%	-34.71%	12.18%	-46.03%	32.77%	55.33%	38.51%	-15.73%
Net Income Growth	-1,114.21%	-48.35%	-79.52%	37.30%	-70.93%	10.37%	-44.63%	31.07%	56.51%	44.06%	-24.58%
EPS Growth	84.73%	-5.48%	-76.62%	37.50%	-69.41%	20.49%	-36.68%	33.87%	57.97%	43.68%	-24.49%
Operating Cash Flow Growth	641.41%	-565.30%	-33.90%	17.05%	-5.02%	-20.50%	64.21%	279.87%	-252.12%	254.10%	-169.69%
Free Cash Flow Firm Growth	-46,446.61%	70.76%	42.91%	-60.21%	15.51%	-25.50%	13.56%	55.37%	-662.84%	155.09%	-149.80%
Invested Capital Growth	11,233.45%	16.30%	-4.92%	5.66%	-5.60%	3.39%	-11.72%	-15.05%	94.44%	-35.32%	15.64%
Revenue Q/Q Growth	0.00%	-73.04%	159.14%	8.73%	-6.81%	-38.38%	-28.88%	54.42%	16.59%	18.42%	0.00%
EBITDA Q/Q Growth	0.00%	-4.77%	-1.48%	-3.38%	-1.91%	-0.49%	-4.01%	2.02%	64.04%	-152.43%	0.00%
EBIT Q/Q Growth	0.00%	-5.80%	-2.44%	-3.53%	-1.70%	-1.74%	-1.68%	1.04%	62.03%	-160.72%	0.00%
NOPAT Q/Q Growth	0.00%	-5.80%	-2.35%	-3.27%	-1.63%	-3.11%	-1.55%	1.10%	61.67%	-150.74%	0.00%
Net Income Q/Q Growth	0.00%	-5.78%	-22.66%	18.71%	-2.94%	-6.14%	1.45%	-0.22%	61.94%	-157.68%	0.00%
EPS Q/Q Growth	0.00%	-43.93%	-21.97%	19.05%	-2.86%	-1.33%	1.88%	0.96%	62.01%	-158.33%	0.00%
Operating Cash Flow Q/Q Growth	14.44%	-38.57%	-3.29%	3.61%	-4.76%	-4.66%	64.48%	-52.54%	1.98%	53.94%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	30.34%	-26.44%	-0.50%	-21.28%	40.74%	-168.74%	-4.46%	97.26%	0.00%
Invested Capital Q/Q Growth	0.00%	1.41%	-5.99%	-1.32%	-1.73%	2.48%	-14.18%	18.88%	28.82%	-8.79%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	66.49%	8.16%	-47.25%	-24.28%	-60.58%	-81.14%	-74.38%	99.54%	100.00%	100.00%	100.00%
EBITDA Margin	-443.47%	-2,325.68%	-638.79%	-455.69%	-614.26%	-2,138.49%	-5,522.48%	-3,241.88%	-769.93%	-215.82%	-183.90%
Operating Margin	-446.50%	-2,386.29%	-684.83%	-499.23%	-657.62%	-2,399.81%	-5,951.03%	-3,399.26%	-857.79%	-241.52%	-194.23%
EBIT Margin	-446.50%	-2,386.18%	-685.42%	-500.46%	-658.06%	-2,368.09%	-5,906.08%	-3,375.65%	-843.93%	-235.96%	-192.99%
Profit (Net Income) Margin	-463.87%	-2,375.19%	-818.59%	-386.59%	-646.15%	-2,406.52%	-5,910.31%	-3,461.16%	-850.29%	-217.80%	-188.56%
Tax Burden Percent	100.00%	100.00%	119.88%	79.08%	101.67%	106.82%	100.23%	102.69%	108.38%	121.46%	119.96%
Interest Burden Percent	103.89%	99.54%	99.63%	97.68%	96.58%	95.14%	99.84%	99.85%	92.96%	75.99%	81.45%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-21.21%	-15.05%	-21.44%	-20.70%	-27.93%	-24.83%	-37.88%	-29.37%	-9.70%	-5.49%	-7.50%
ROIC Less NNEP Spread (ROIC-NNEP)	-12.97%	-10.29%	-9.68%	-18.58%	-14.13%	-14.22%	-25.28%	-18.86%	-2.24%	-0.53%	-1.08%
Return on Net Nonoperating Assets (RNNOA)	7.20%	5.88%	5.45%	9.45%	6.35%	7.15%	14.09%	10.55%	0.79%	0.13%	0.34%
Return on Equity (ROE)	-14.01%	-9.16%	-15.99%	-11.26%	-21.57%	-17.68%	-23.79%	-18.82%	-8.91%	-5.36%	-7.16%
Cash Return on Invested Capital (CROIC)	-111.41%	-30.12%	-16.40%	-26.21%	-22.17%	-28.17%	-25.44%	-13.09%	-73.85%	37.41%	-22.00%
Operating Return on Assets (OROA)	-12.39%	-8.74%	-12.63%	-13.65%	-20.51%	-15.96%	-20.90%	-13.78%	-5.82%	-3.28%	-3.54%
Return on Assets (ROA)	-12.87%	-8.70%	-15.09%	-10.55%	-20.14%	-16.22%	-20.92%	-14.13%	-5.86%	-3.03%	-3.46%
Return on Common Equity (ROCE)	-12.64%	-9.16%	-15.99%	-11.26%	-21.57%	-17.68%	-23.79%	-18.82%	-8.91%	-5.36%	-7.16%
Return on Equity Simple (ROE_SIMPLE)	-6.87%	-8.33%	-17.19%	-11.78%	-23.23%	-15.36%	-25.62%	-20.14%	-9.08%	-5.67%	-7.26%
Net Operating Profit after Tax (NOPAT)	-9.91	-15	-23	-22	-30	-26	-38	-26	-12	-7.09	-8.20
NOPAT Margin	-312.55%	-1,670.40%	-479.38%	-349.46%	-460.34%	-1,679.87%	-4,165.72%	-2,379.48%	-600.45%	-169.06%	-135.96%
Net Nonoperating Expense Percent (NNEP)	-8.24%	-4.76%	-11.76%	-2.13%	-13.80%	-10.61%	-12.60%	-10.51%	-7.46%	-4.95%	-6.42%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	-4.98%
Cost of Revenue to Revenue	33.51%	91.84%	147.25%	124.28%	160.58%	181.14%	174.38%	0.46%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	424.27%	1,820.02%	471.13%	328.31%	301.85%	1,628.45%	4,267.32%	3,646.22%	2,354.19%	1,059.96%	707.53%
R&D to Revenue	31.56%	143.96%	48.38%	37.01%	35.17%	188.81%	471.55%	331.46%	231.32%	135.93%	95.09%
Operating Expenses to Revenue	512.99%	2,394.45%	637.58%	474.95%	597.05%	2,318.67%	5,876.66%	3,498.80%	957.79%	341.52%	294.23%
Earnings before Interest and Taxes (EBIT)	-14	-22	-33	-32	-43	-37	-54	-37	-16	-9.89	-12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-14	-21	-31	-29	-40	-33	-51	-35	-15	-9.05	-11
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.92	1.87	1.38	2.07	2.86	3.20	3.90	5.71	3.47	3.87	4.34
Price to Tangible Book Value (P/TBV)	5.51	3.10	2.55	4.25	7.08	5.87	9.18	30.29	0.00	0.00	0.00
Price to Revenue (P/Rev)	197.51	534.03	65.47	67.98	79.50	501.27	900.51	981.47	324.87	148.52	112.80
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	5.37	3.08	1.82	3.03	4.23	6.01	7.50	11.88	3.83	5.55	5.46
Enterprise Value to Revenue (EV/Rev)	159.72	368.12	39.65	52.51	67.70	413.36	772.89	884.03	312.92	134.31	106.28
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	119.10	0.00	0.00	0.00	0.00	0.00	0.00	53.50	0.00	13.40	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	11.65	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.11	0.01	0.05
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.55	-0.57	-0.56	-0.51	-0.45	-0.50	-0.56	-0.56	-0.35	-0.24	-0.31
Leverage Ratio	1.09	1.05	1.06	1.07	1.07	1.09	1.14	1.33	1.52	1.77	2.07
Compound Leverage Factor	1.13	1.05	1.06	1.04	1.03	1.04	1.14	1.33	1.41	1.35	1.69
Debt to Total Capital	0.00%	0.38%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	10.12%	0.62%	4.91%
Short-Term Debt to Total Capital	0.00%	0.19%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	10.12%	0.62%	4.91%
Long-Term Debt to Total Capital	0.00%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	99.62%	99.78%	100.00%	100.00%	100.00%	100.00%	100.00%	89.88%	99.38%	95.09%
Debt to EBITDA	0.00	-0.05	-0.02	0.00	0.00	0.00	0.00	0.00	-1.37	-0.11	-0.73
Net Debt to EBITDA	0.00	7.13	4.04	0.00	0.00	0.00	0.00	0.00	1.55	6.59	3.54
Long-Term Debt to EBITDA	0.00	-0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	-0.06	-0.02	0.00	0.00	0.00	0.00	0.00	-1.76	-0.14	-0.99
Net Debt to NOPAT	0.00	9.93	5.39	0.00	0.00	0.00	0.00	0.00	1.99	8.41	4.79
Long-Term Debt to NOPAT	0.00	-0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	27.75	24.89	10.27	21.21	17.93	20.13	10.66	5.41	2.02	0.79	0.69
Noncontrolling Interest Sharing Ratio	9.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	16.83	30.61	26.63	19.18	8.86	16.11	14.05	12.01	1.86	4.07	2.23
Quick Ratio	16.75	30.41	26.42	18.98	8.73	15.59	13.64	10.96	1.35	3.37	1.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-105	-31	-18	-28	-24	-30	-26	-11	-88	48	-24
Operating Cash Flow to CapEx	67.01%	-217.78%	-1,615.11%	-2,314.32%	-3,189.09%	-5,996.34%	-4,330.00%	1,701.14%	-1,281.75%	13,678.50%	-33,635.63%
Free Cash Flow to Firm to Interest Expense	-184.05	-10,243.90	-3,509.02	-9,369.73	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	7.45	-6,598.00	-5,300.80	-7,328.67	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-3.67	-9,627.67	-5,629.00	-7,645.33	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.03	0.00	0.02	0.03	0.03	0.01	0.00	0.00	0.01	0.01	0.02
Accounts Receivable Turnover	8.30	1.99	8.23	8.09	9.43	6.19	28.34	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	63.79	52.48	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.98	0.09	0.32	0.47	0.58	0.19	0.17	0.33	0.59	1.48	3.59
Accounts Payable Turnover	0.32	0.16	1.94	2.01	2.15	0.51	0.26	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	43.99	183.33	44.38	45.12	38.72	58.93	12.88	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	5.72	6.96	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	1,148.36	2,220.61	187.96	181.41	169.72	711.70	1,382.61	476,471.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-1,104.37	-2,037.28	-137.86	-129.34	-130.99	-652.78	-1,369.73	-476,471.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	94	110	104	110	104	108	95	81	157	101	117
Invested Capital Turnover	0.07	0.01	0.04	0.06	0.06	0.01	0.01	0.01	0.02	0.03	0.06
Increase / (Decrease) in Invested Capital	95	15	-5.40	5.90	-6.17	3.53	-13	-14	76	-55	16
Enterprise Value (EV)	507	338	190	334	440	646	712	958	600	563	641
Market Capitalization	627	491	313	432	517	784	829	1,064	623	622	680
Book Value per Share	$17.10	$18.35	$15.89	$14.41	$12.30	$14.28	$12.08	$10.14	$9.53	$8.70	$8.43
Tangible Book Value per Share	$9.07	$11.08	$8.58	$7.03	$4.97	$7.78	$5.14	$1.91	($1.18)	($3.01)	($3.89)
Total Capital	214	263	228	209	181	245	213	186	200	162	165
Total Debt	0.00	0.99	0.50	0.00	0.00	0.00	0.00	0.00	20	1.00	8.09
Total Long-Term Debt	0.00	0.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-120	-152	-124	-98	-77	-137	-118	-106	-23	-60	-39
Capital Expenditures (CapEx)	6.35	9.09	1.64	0.95	0.72	0.46	0.23	1.05	2.13	0.31	0.09
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-6.16	-3.04	-2.59	-3.27	-7.22	-4.12	-5.10	0.51	4.63	-4.52	-5.73
Debt-free Net Working Capital (DFNWC)	114	150	121	95	70	133	112	106	48	56	42
Net Working Capital (NWC)	114	150	121	95	70	133	112	106	28	55	34
Net Nonoperating Expense (NNE)	4.80	6.48	16	2.36	12	11	16	12	4.79	2.04	3.17
Net Nonoperating Obligations (NNO)	-120	-152	-124	-98	-77	-137	-118	-106	-23	-60	-39
Total Depreciation and Amortization (D&A)	0.10	0.56	2.23	2.85	2.85	3.59	3.53	1.45	1.42	0.84	0.55
Debt-free, Cash-free Net Working Capital to Revenue	-194.11%	-331.01%	-54.02%	-51.47%	-111.02%	-263.68%	-554.07%	47.14%	241.06%	-107.80%	-94.96%
Debt-free Net Working Capital to Revenue	3,585.01%	16,367.90%	2,538.06%	1,495.63%	1,069.50%	8,524.87%	12,207.93%	9,791.05%	2,491.30%	1,337.63%	690.55%
Net Working Capital to Revenue	3,585.01%	16,314.15%	2,527.68%	1,495.63%	1,069.50%	8,524.87%	12,207.93%	9,791.05%	1,436.11%	1,313.77%	556.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.46)	($1.54)	($2.72)	($2.12)	($2.88)	($2.29)	($3.13)	($2.07)	($0.87)	($0.49)	($0.61)
Adjusted Weighted Average Basic Shares Outstanding	14.26M	14.30M	14.40M	14.50M	14.76M	17.21M	17.77M	18.14M	18.84M	18.77M	18.56M
Adjusted Diluted Earnings per Share	($1.46)	($1.54)	($2.72)	($2.12)	($2.88)	($2.29)	($3.13)	($2.07)	($0.87)	($0.49)	($0.61)
Adjusted Weighted Average Diluted Shares Outstanding	14.26M	14.30M	14.40M	14.50M	14.76M	17.21M	17.77M	18.14M	18.84M	18.77M	18.56M
Adjusted Basic & Diluted Earnings per Share	($1.46)	($1.54)	($2.72)	($2.12)	($2.88)	($2.29)	($3.13)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	10.05M	14.16M	14.39M	14.45M	14.58M	16.42M	17.41M	18.93M	19.04M	18.57M	18.70M
Normalized Net Operating Profit after Tax (NOPAT)	-9.91	-15	-23	-22	-23	-26	-36	-34	-38	-37	-18
Normalized NOPAT Margin	-312.55%	-1,670.40%	-479.38%	-349.46%	-348.54%	-1,671.09%	-3,861.40%	-3,096.40%	-2,000.78%	-876.31%	-304.49%
Pre Tax Income Margin	-463.87%	-2,375.19%	-682.85%	-488.84%	-635.56%	-2,252.94%	-5,896.85%	-3,370.48%	-784.52%	-179.31%	-157.19%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-24.80	-7,309.67	-6,562.20	-10,601.33	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-17.36	-5,117.00	-4,589.62	-7,402.73	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-35.92	-10,339.33	-6,890.40	-10,918.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-28.48	-8,146.67	-4,917.82	-7,719.40	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-39.88%	-50.40%	-270.33%	-73.85%

This table displays calculated financial ratios and metrics derived from Anterix's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	3/31/2023	6/30/2024	9/30/2024	12/31/2024	3/31/2024	6/30/2024	9/30/2024	12/31/2024	6/30/2025	9/30/2025	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	18,569,297.00	18,594,802.00	18,618,271.00	18,695,874.00	18,739,790.00	18,716,625.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	18,569,297.00	18,594,802.00	18,618,271.00	18,695,874.00	18,739,790.00	18,716,625.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-0.84	-0.69	0.41	1.35	2.86	-0.35
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	81.49%	355.22%	289.70%	170.93%	107.24%	150.82%	47.43%	23.21%	-7.02%	0.06%	0.45%
EBITDA Growth	255.69%	-19.37%	-24.80%	192.28%	-164.14%	0.00%	-612.45%	606.39%	252.56%	568.84%	-223.73%
EBIT Growth	246.20%	-15.24%	-23.03%	185.68%	-166.63%	0.00%	-665.07%	604.20%	249.91%	562.43%	-227.71%
NOPAT Growth	299.10%	-14.84%	-23.17%	223.28%	-148.86%	0.00%	-633.45%	3,701.38%	335.00%	678.87%	-187.46%
Net Income Growth	241.07%	-17.64%	-19.95%	196.13%	-160.55%	-632.96%	-715.82%	2,250.61%	262.20%	519.36%	-185.62%
EPS Growth	236.67%	-18.31%	-23.21%	197.62%	-162.20%	-663.64%	-727.27%	1,950.00%	260.71%	514.49%	-185.37%
Operating Cash Flow Growth	6.03%	75.99%	156.36%	4,720.88%	171.61%	71.24%	-125.41%	-122.89%	-32.99%	153.02%	-7.44%
Free Cash Flow Firm Growth	-1,007.86%	-503.23%	189.59%	112.83%	178.60%	527.49%	307.19%	-126.69%	-257.28%	-362.31%	-3,413.92%
Invested Capital Growth	94.44%	11.32%	-16.60%	-0.34%	-35.32%	0.00%	-24.84%	9.09%	0.00%	116.72%	77.65%
Revenue Q/Q Growth	5.19%	150.82%	155.10%	0.97%	-0.87%	21.03%	1.70%	0.97%	0.00%	9.45%	1.35%
EBITDA Q/Q Growth	304.21%	-192.48%	-414.57%	156.32%	-957.76%	-44.19%	12.47%	155.39%	0.00%	169.00%	-114.62%
EBIT Q/Q Growth	291.13%	-195.46%	-378.50%	153.63%	-1,146.70%	-43.27%	12.50%	153.67%	0.00%	169.89%	-114.82%
NOPAT Q/Q Growth	355.96%	-169.79%	-362.49%	178.90%	-3,956.73%	-42.82%	12.54%	178.90%	0.00%	115.45%	-111.92%
Net Income Q/Q Growth	293.79%	-199.88%	-502.74%	160.39%	-2,969.21%	-64.96%	17.77%	160.39%	0.00%	112.61%	-112.33%
EPS Q/Q Growth	295.24%	-202.44%	-527.27%	159.42%	-2,650.00%	-64.71%	17.86%	159.42%	0.00%	111.85%	-112.24%
Operating Cash Flow Q/Q Growth	-1,077.75%	72.46%	293.73%	635.46%	-81.75%	-138.45%	-12.16%	-190.75%	0.00%	144.71%	-689.17%
Free Cash Flow Firm Q/Q Growth	-2.25%	66.49%	184.43%	-24.05%	348.10%	82.23%	-73.90%	-112.52%	0.00%	56.47%	-67.77%
Invested Capital Q/Q Growth	28.82%	-37.48%	-1.16%	25.18%	-8.79%	-100.00%	0.00%	25.18%	0.00%	29.35%	2.61%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	2,635.20%	-971.61%	-828.76%	462.32%	-815.56%	-971.61%	-836.23%	458.75%	1,594.15%	3,918.04%	-565.10%
Operating Margin	2,578.13%	-984.39%	-846.55%	449.04%	-834.21%	-984.39%	-846.55%	449.04%	1,585.40%	3,909.47%	-576.03%
EBIT Margin	2,583.72%	-983.34%	-846.55%	449.68%	-830.71%	-983.34%	-845.97%	449.68%	1,585.40%	3,909.47%	-571.71%
Profit (Net Income) Margin	2,556.25%	-1,017.97%	-823.08%	492.34%	-746.90%	-1,017.97%	-823.08%	492.34%	1,775.74%	3,449.48%	-419.64%
Tax Burden Percent	96.06%	108.54%	101.83%	103.13%	98.64%	108.54%	101.83%	103.13%	109.85%	87.69%	76.29%
Interest Burden Percent	102.99%	95.37%	95.48%	106.16%	91.15%	95.37%	95.54%	106.16%	101.97%	100.62%	96.22%
Effective Tax Rate	3.94%	0.00%	0.00%	-3.13%	0.00%	0.00%	0.00%	-3.13%	-9.85%	12.31%	0.00%
Return on Invested Capital (ROIC)	40.02%	-16.23%	-18.60%	14.61%	-18.95%	0.00%	-24.60%	19.85%	127.05%	132.32%	-14.20%
ROIC Less NNEP Spread (ROIC-NNEP)	39.26%	-8.91%	-10.83%	13.10%	-13.97%	0.00%	-16.59%	18.77%	122.71%	131.40%	-13.02%
Return on Net Nonoperating Assets (RNNOA)	-13.79%	3.78%	3.26%	-2.62%	3.38%	0.00%	4.70%	-5.00%	-14.85%	-25.07%	1.50%
Return on Equity (ROE)	26.23%	-12.45%	-15.33%	11.99%	-15.57%	0.00%	-19.91%	14.85%	112.20%	107.24%	-12.70%
Cash Return on Invested Capital (CROIC)	-73.85%	-15.40%	12.39%	17.93%	37.41%	0.00%	12.56%	-20.40%	-166.44%	-12.48%	-8.63%
Operating Return on Assets (OROA)	17.82%	-7.36%	-9.88%	5.90%	-11.54%	0.00%	-13.29%	6.92%	26.12%	62.81%	-9.12%
Return on Assets (ROA)	17.63%	-7.62%	-9.61%	6.46%	-10.37%	0.00%	-12.93%	7.58%	29.26%	55.42%	-6.69%
Return on Common Equity (ROCE)	26.23%	-12.45%	-15.33%	11.99%	-15.57%	0.00%	-19.91%	14.85%	112.20%	107.24%	-12.70%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-3.52%	-5.29%	16.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	15	-11	-9.19	7.25	-7.36	-11	-9.19	7.25	25	53	-6.34
NOPAT Margin	2,476.62%	-689.08%	-592.59%	463.10%	-583.94%	-689.08%	-592.59%	463.10%	1,741.50%	3,428.07%	-403.22%
Net Nonoperating Expense Percent (NNEP)	0.75%	-7.31%	-7.77%	1.51%	-4.98%	0.00%	-8.01%	1.08%	4.34%	0.92%	-1.18%
Return On Investment Capital (ROIC_SIMPLE)	-	-7.02%	-	4.83%	-	-	-6.56%	4.83%	12.11%	21.35%	-2.59%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	1,695.07%	842.69%	734.82%	587.68%	761.35%	842.69%	734.82%	587.68%	736.88%	541.11%	550.29%
R&D to Revenue	234.70%	114.75%	114.51%	71.52%	178.02%	114.75%	114.51%	71.52%	78.98%	78.09%	70.18%
Operating Expenses to Revenue	-2,478.13%	1,090.49%	946.55%	-349.04%	934.21%	1,084.39%	946.55%	-349.04%	-1,485.40%	-3,809.47%	676.03%
Earnings before Interest and Taxes (EBIT)	16	-15	-13	7.04	-10	-15	-13	7.04	22	61	-8.99
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	16	-15	-13	7.24	-10	-15	-13	7.18	23	61	-8.89
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.47	4.94	5.04	3.95	3.87	0.00	5.04	3.95	2.60	1.67	1.73
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	324.87	335.38	209.35	148.94	148.52	143.92	149.31	114.55	80.95	67.91	68.88
Price to Earnings (P/E)	0.00	0.00	0.00	24.61	0.00	0.00	0.00	0.00	16.35	4.21	5.02
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	4.06%	0.00%	0.00%	0.00%	0.00%	6.12%	23.77%	19.90%
Enterprise Value to Invested Capital (EV/IC)	3.83	6.98	6.79	4.51	5.55	0.00	6.79	4.51	2.82	1.77	1.80
Enterprise Value to Revenue (EV/Rev)	312.92	312.25	196.76	142.83	134.31	0.00	140.33	109.85	77.17	62.80	65.44
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	23.51	0.00	0.00	0.00	0.00	17.36	3.72	4.62
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	24.53	0.00	0.00	0.00	0.00	17.69	3.73	4.64
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	25.61	0.00	0.00	0.00	0.00	16.78	3.96	4.87
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	20.07	13.40	0.00	18.93	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	49.85	25.12	11.65	0.00	46.40	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.11	0.01	0.01	0.04	0.01	0.00	0.01	0.04	0.10	0.04	0.04
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.35	-0.42	-0.30	-0.20	-0.24	0.00	-0.28	-0.27	-0.12	-0.19	-0.12
Leverage Ratio	1.52	1.81	1.88	1.92	1.77	0.00	1.89	2.04	1.95	1.94	1.95
Compound Leverage Factor	1.57	1.73	1.79	2.04	1.61	0.00	1.81	2.17	1.98	1.96	1.88
Debt to Total Capital	10.12%	0.67%	0.71%	3.59%	0.62%	0.00%	0.71%	3.59%	9.35%	3.53%	3.73%
Short-Term Debt to Total Capital	10.12%	0.67%	0.71%	3.59%	0.62%	0.00%	0.71%	3.59%	9.35%	3.53%	3.73%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	89.88%	99.33%	99.29%	96.41%	99.38%	0.00%	99.29%	96.41%	90.65%	96.47%	96.27%
Debt to EBITDA	-1.37	-0.21	-0.13	0.23	-0.11	0.00	-0.04	-0.29	0.72	0.09	0.11
Net Debt to EBITDA	1.55	10.82	5.57	-1.00	6.59	0.00	1.71	1.26	-0.85	-0.30	-0.24
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	-1.76	-0.23	-0.16	0.25	-0.14	0.00	-0.06	-0.40	0.70	0.09	0.11
Net Debt to NOPAT	1.99	11.63	6.92	-1.09	8.41	0.00	2.36	1.72	-0.82	-0.32	-0.26
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	2.40	0.90	0.61	0.31	0.79	0.00	0.62	0.32	0.51	0.85	0.26
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.86	3.98	3.59	1.65	4.07	0.00	3.59	1.65	1.54	1.70	1.39
Quick Ratio	1.35	3.13	2.73	1.18	3.37	0.00	2.73	1.18	1.15	1.13	0.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-61	-20	10	7.67	48	88	23	-2.86	-138	-60	-101
Operating Cash Flow to CapEx	-1,470.67%	0.00%	2,157.55%	61,163.64%	15,350.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-91,911.11%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.01	0.01	0.01	0.01	0.01	0.00	0.02	0.02	0.02	0.02	0.02
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.59	0.99	1.33	1.56	1.48	0.00	2.32	2.69	5.06	4.32	4.74
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	157	98	97	121	101	0.00	97	121	162	210	216
Invested Capital Turnover	0.02	0.02	0.03	0.03	0.03	0.00	0.04	0.04	0.07	0.04	0.04
Increase / (Decrease) in Invested Capital	76	9.97	-19	-0.42	-55	-98	-32	10	162	113	94
Enterprise Value (EV)	600	684	658	548	563	0.00	658	548	457	372	388
Market Capitalization	623	735	700	571	622	735	700	571	480	402	409
Book Value per Share	$9.53	$8.01	$7.48	$7.77	$8.70	$0.00	$7.48	$7.77	$9.88	$12.83	$12.61
Tangible Book Value per Share	($1.18)	($3.82)	($4.45)	($5.45)	($3.01)	$0.00	($4.45)	($5.45)	($4.31)	($4.53)	($5.07)
Total Capital	200	150	140	150	162	0.00	140	150	204	249	245
Total Debt	20	1.00	1.00	5.40	1.00	0.00	1.00	5.40	19	8.80	9.15
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-23	-51	-42	-23	-60	0.00	-42	-23	-22	-30	-20
Capital Expenditures (CapEx)	0.58	0.00	0.21	0.06	0.04	0.00	0.00	0.00	0.00	0.00	0.01
Debt-free, Cash-free Net Working Capital (DFCFNWC)	4.63	-1.55	-1.16	-7.52	-4.52	0.00	-1.16	-7.52	-2.95	-6.09	-6.34
Debt-free Net Working Capital (DFNWC)	48	50	42	21	56	0.00	42	21	38	33	23
Net Working Capital (NWC)	28	49	41	16	55	0.00	41	16	19	24	14
Net Nonoperating Expense (NNE)	-0.48	5.02	3.58	-0.46	2.05	5.02	3.58	-0.46	-0.49	-0.33	0.26
Net Nonoperating Obligations (NNO)	-23	-51	-42	-23	-60	0.00	-42	-23	-22	-30	-20
Total Depreciation and Amortization (D&A)	0.31	0.18	0.28	0.20	0.19	0.18	0.15	0.14	0.12	0.13	0.10
Debt-free, Cash-free Net Working Capital to Revenue	241.06%	-70.80%	-34.74%	-196.19%	-107.80%	0.00%	-24.78%	-150.89%	-49.83%	-102.70%	-106.83%
Debt-free Net Working Capital to Revenue	2,491.30%	2,288.46%	1,254.62%	554.90%	1,337.63%	0.00%	894.82%	426.78%	649.56%	556.71%	391.05%
Net Working Capital to Revenue	1,436.11%	2,242.84%	1,224.72%	414.14%	1,313.77%	0.00%	873.50%	318.52%	327.70%	408.15%	236.80%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.82	($0.84)	($0.69)	$0.41	($0.51)	$0.00	($0.69)	$0.41	$1.35	$2.86	($0.35)
Adjusted Weighted Average Basic Shares Outstanding	18.84M	18.49M	18.59M	18.61M	18.77M	0.00	18.59M	18.61M	18.62M	18.69M	18.68M
Adjusted Diluted Earnings per Share	$0.82	($0.84)	($0.69)	$0.41	($0.51)	$0.00	($0.69)	$0.41	$1.35	$2.86	($0.35)
Adjusted Weighted Average Diluted Shares Outstanding	18.84M	18.49M	18.59M	18.78M	18.77M	0.00	18.59M	18.78M	18.70M	18.71M	18.68M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	19.04M	18.59M	18.62M	18.59M	18.57M	0.00	18.62M	18.59M	18.74M	18.72M	18.73M
Normalized Net Operating Profit after Tax (NOPAT)	-13	-11	-9.19	-7.15	-8.75	-11	-9.19	7.38	16	44	-6.25
Normalized NOPAT Margin	-2,114.96%	-689.08%	-592.59%	-456.30%	-694.17%	-689.08%	-592.59%	471.36%	1,093.34%	2,822.80%	-397.13%
Pre Tax Income Margin	2,661.02%	-937.84%	-808.25%	477.39%	-757.22%	-937.84%	-808.25%	477.39%	1,616.57%	3,933.89%	-550.10%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-50.40%	-104.94%	-193.33%	80.61%	-270.33%	-118.50%	-66.62%	-74.84%	21.72%	7.70%	3.62%

Financials Breakdown Chart

Key Financial Trends

Here are the notable trends in Anterix (ATEX) using the last four years of quarterly statements. The data show a company with a very small revenue base, sporadic large non-operating gains, substantial equity funding, and ongoing losses that have been offset temporarily by one-time items in some quarters. Liquidity has held up due to equity raises, but cash earnings from operations remain constrained in most periods.

In Q2 2026, net income attributable to common shareholders was about $53.5 million, driven by a large pre-tax income and non-operating gains. This represents a sharp, likely one-time, earnings boost rather than a steady run-rate of profitability.
The balance sheet shows a strong equity base in Q3 2026: Total Equity around $235.95 million, with a very large Common Stock balance (~$556.77 million). This reflects substantial equity financing that provides a cushion against liabilities and a liquidity runway.
Cash and cash equivalents were approximately $29.53 million at Q3 2026, with cash balances remaining in the mid-to-high tens of millions in recent quarters, signaling usable liquidity for near-term needs.
Revenue is modest and relatively flat, hovering around $1.4–$1.6 million per quarter in the latest periods, indicating limited top-line growth.
There is no long-term debt balance reported in these periods; liabilities exist, but the company appears to rely on equity financing rather than debt to fund operations.
Intangible assets are substantial (roughly $265–$331 million across the last four quarters), and retained earnings are negative, suggesting a large non-cash asset base and ongoing accumulated losses.
Q3 2026 saw a decline in net income to about $-6.6 million after the strong Q2 performance, indicating pronounced earnings volatility and potential near-term profitability risk.
Net cash from operating activities was negative in Q3 2026 (about $-8.27 million), contributing to cash burn in that quarter.
Retained earnings remain deeply negative across multiple years (e.g., around $-320.8 million in Q3 2026), signaling sustained cumulative losses.
Ongoing equity dilution is evident, with large common stock values and meaningful share-count changes; earnings per share have been negative in most quarters, underscoring dilution risk for shareholders.

05/21/26 03:23 AM ETAI Generated. May Contain Errors.

Anterix Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Anterix's financial year ends in March. Their financial year 2025 ended on March 31, 2025.

Anterix's net income appears to be on a downward trend, with a most recent value of -$11.37 million in 2025, falling from -$14.71 million in 2015. The previous period was -$9.13 million in 2024. See Anterix's forecast for analyst expectations on what's next for the company.

Anterix's total operating income in 2025 was -$11.71 million, based on the following breakdown:

Total Gross Profit: $6.03 million
Total Operating Expenses: $17.75 million

Over the last 10 years, Anterix's total revenue changed from $3.17 million in 2015 to $6.03 million in 2025, a change of 90.1%.

Anterix's total liabilities were at $176.50 million at the end of 2025, a 7.7% increase from 2024, and a 1,195.7% increase since 2015.

In the past 10 years, Anterix's cash and equivalents has ranged from $43.18 million in 2023 to $153.46 million in 2016, and is currently $47.37 million as of their latest financial filing in 2025.

Over the last 10 years, Anterix's book value per share changed from 17.10 in 2015 to 8.43 in 2025, a change of -50.7%.

Related Companies

Financial statements for NASDAQ:ATEX last updated on 4/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Anterix (ATEX) Financials

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Anterix (ATEX) Financials

Annual Income Statements for Anterix

Quarterly Income Statements for Anterix

Annual Cash Flow Statements for Anterix

Quarterly Cash Flow Statements for Anterix

Annual Balance Sheets for Anterix

Quarterly Balance Sheets for Anterix

Annual Metrics And Ratios for Anterix

Quarterly Metrics And Ratios for Anterix

Financials Breakdown Chart

Key Financial Trends

Anterix Financials - Frequently Asked Questions

When does Anterix's fiscal year end?

How has Anterix's net income changed over the last 10 years?

What is Anterix's operating income?

How has Anterix's revenue changed over the last 10 years?

How much debt does Anterix have?

How much cash does Anterix have?

How has Anterix's book value per share changed over the last 10 years?

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