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HomeBusinessAnterix Inc. Reports Second Quarter Fiscal Year 2024 Results

Anterix Inc. Reports Second Quarter Fiscal Year 2024 Results

Anterix Inc.

Earnings Release Tables

Consolidated Statements of Cash Flows

(Unaudited, in thousands)



Three months ended September 30,


Six months ended September 30,


2023


2022


2023


2022

CASH FLOWS FROM OPERATING ACTIVITIES








Net income (loss)

$              2,073


$          (10,643)


$                 (45)


$          (23,839)

Adjustments to reconcile net income (loss) to net cash used in operating activities








Depreciation and amortization

209


372


455


734

Non-cash compensation expense attributable to stock awards

3,838


4,691


8,103


8,819

Deferred income taxes

645


203


373


403

Gain on disposal of intangible assets, net

(8,513)


(2,905)


(19,298)


(3,553)

Gain on sale of intangible assets, net

(7,332)



(7,332)


Loss on disposal of long-lived assets, net

67


20


36


22

Changes in operating assets and liabilities








Prepaid expenses and other assets

225


83


788


1,263

Right of use assets

262


280


545


518

Accounts payable and accrued expenses

(795)


328


374


(1,132)

Due to related parties


(24)


(533)


Operating lease liabilities

(371)


(372)


(759)


(699)

Contingent Liability


249



249

Deferred revenue

20,114


(398)


19,506


(733)

Net cash provided by (used in) operating activities

10,422


(8,116)


2,213


(17,948)

CASH FLOWS FROM INVESTING ACTIVITIES








Purchases of intangible assets, including refundable deposits

(4,907)


(4,578)


(10,077)


(11,228)

Proceeds from sale of spectrum

25,178



25,178


Purchases of equipment

(187)


(1,139)


(212)


(1,145)

Net cash provided by (used in) investing activities

20,084


(5,717)


14,889


(12,373)

CASH FLOWS FROM FINANCING ACTIVITIES








Proceeds from stock option exercises



7


872

Repurchase of common stock

(10,735)


(2,000)


(10,735)


(4,725)

Payments of withholding tax on net issuance of restricted stock

(270)


(509)


(1,022)


(1,336)

Net cash used in financing activities

(11,005)


(2,509)


(11,750)


(5,189)

Net change in cash and cash equivalents

19,501


(16,342)


5,352


(35,510)

CASH AND CASH EQUIVALENTS








Beginning of the period

29,033


86,456


43,182


105,624

End of the period

$           48,534


$           70,114


$           48,534


$           70,114

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION








Cash paid during the period:








Taxes paid

$                   —


$                   12


$                     1


$                   12

Non-cash investing activity:








Network equipment provided in exchange for wireless licenses

$                 130


$                   25


$                 568


$                   29

Deferred gain on sale of intangible assets

$              4,889


$                   —


$              4,889


$                   —

Derecognition of contingent liability related to sale of intangible assets

$           18,840


$                   —


$           18,840


$                   —

Originally published at https://www.prnewswire.com/news-releases/anterix-inc-reports-second-quarter-fiscal-year-2024-results-301986602.html
Images courtesy of https://pixabay.com

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