Anterix (ATEX) Q4 FY26 earnings call

Anterix's spectrum-scarcity thesis is materializing: utility engagement has shifted from evaluation to deployment and direct pricing, with fresh utility signings and surging Catalyx interest anchoring an expanding recurring-revenue layer atop spectrum sales. A debt-free balance sheet and a pivot to gross-basis sale accounting position it to monetize the large majority of spectrum still uncontracted, while early satellite direct-to-device testing with Link opens non-utility optionality.