ATEX

Anterix operates as a wireless communications company focused on modernizing critical infrastructure through private broadband networks, holding nationwide FCC licenses in the 900 MHz spectrum band ideally suited for utility, transportation, and industrial communications requiring wide-area coverage and deep building penetration. Headquartered in Woodland Park, New Jersey, Anterix's business model involves deploying private LTE networks enabling electric utilities, pipeline operators, railroads, and other critical infrastructure owners to replace aging narrowband communication systems with modern broadband networks supporting smart grid applications, operational technology systems, and video surveillance. The company's 900 MHz spectrum licenses cover the entire continental United States with propagation characteristics enabling fewer cell sites covering larger geographic areas compared to higher-frequency bands, reducing infrastructure costs for utilities and industrial customers operating across vast territories. Anterix partners with equipment vendors including Cisco, Nokia, and Motorola Solutions developing 900 MHz LTE ecosystem supporting private network deployments, while working with utilities including Southern Company, Ameren, and others piloting network implementations demonstrating business case justifications for full-scale rollouts. The company reported minimal revenues as utilities evaluate business cases and plan multi-year network deployment programs requiring substantial capital investments, regulatory approvals, and organizational change management. Anterix operates with significant operating losses funding sales and marketing efforts engaging prospective utility customers, spectrum management activities coordinating frequency usage avoiding interference with incumbent narrowband users, and technology development supporting standards development and product certifications. Recent strategic developments include utilities announcing commitments to deploy private networks using Anterix spectrum, FCC rules facilitating spectrum transitions clearing frequencies for broadband use, and vendor partnerships expanding equipment availability supporting market adoption. The company faces execution risks including longer-than-expected utility decision cycles, competition from alternative private network solutions including FirstNet and Citizens Broadband Radio Service spectrum options, and capital intensity of network deployments potentially limiting near-term revenue growth.