Anterix Inc.
Earnings Release Tables
Consolidated Statements of Cash Flows
(Unaudited, in thousands)
Three months ended September 30,
Six months ended September 30,
2024
2023
2024
2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss (income)
$ (12,766)
$ 2,073
$ (28,290)
$ (45)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities
Depreciation and amortization
151
209
330
455
Stock compensation expense
3,408
3,838
7,754
8,103
Deferred income taxes
332
645
1,389
373
Right of use assets
398
262
832
545
Gain on disposal of intangible assets, net
—
(8,513)
(93)
(19,298)
Gain on sale of intangible assets, net
—
(7,332)
—
(7,332)
Loss from disposal of long-lived assets, net
—
67
—
36
Changes in operating assets and liabilities
Prepaid expenses and other assets
551
225
1,525
788
Accounts payable and accrued expenses
21
(795)
(1,537)
374
Due to related parties
—
—
—
(533)
Operating lease liabilities
(501)
(371)
(1,032)
(759)
Contingent liability
—
—
10,000
—
Deferred revenue
5,940
20,114
4,415
19,506
Other liabilities
(182)
—
(302)
—
Net cash (used in) provided by operating activities
(2,648)
10,422
(5,009)
2,213
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of intangible assets, including refundable deposits, retuning costs and swaps
(5,504)
(4,907)
(10,904)
(10,077)
Proceeds from sale of spectrum
—
25,178
—
25,178
Purchases of equipment
(41)
(187)
(41)
(212)
Net cash (used in) provided by investingactivities
(5,545)
20,084
(10,945)
14,889
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from stock option exercises
343
—
1,960
7
Repurchases of common stock
—
(10,735)
(2,027)
(10,735)
Payments of withholding tax on net issuance of restricted stock
(705)
(270)
(1,366)
(1,022)
Net cash used in financing activities
(362)
(11,005)
(1,433)
(11,750)
Net change in cash and cash equivalents and restricted cash
(8,555)
19,501
(17,387)
5,352
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Cash and cash equivalents and restricted cash at beginning of the period
59,292
29,033
68,124
43,182
Cash and cash equivalents and restricted cash at end of the period
$ 50,737
$ 48,534
$ 50,737
$ 48,534
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the period:
Taxes paid
$ 885
$ 1
$ 885
$ 1
Operating leases paid
$ 606
$ 578
$ 1,199
$ 1,152
Non-cash investing activity:
Network equipment provided in exchange for wireless licenses
$ —
$ 130
$ 47
$ 568
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
Right of use assets new leases
$ 42
$ 41
$ 290
$ 106
Right of use assets modifications and renewals
$ 850
$ 55
$ 1,097
$ 55
The following tables provide a reconciliation of cash and cash equivalents and restricted cash reported on the Consolidated Balance Sheets that sum to the total of the same such amounts on the Consolidated Statements of Cash Flows:
September 30, 2024
June 30, 2024
March 31, 2024
Cash and cash equivalents
$ 43,129
$ 51,715
$ 60,578
Escrow deposits
7,608
7,577
7,546
Total cash and cash equivalents and restricted cash
$ 50,737
$ 59,292
$ 68,124
September 30, 2023
June 30, 2023
March 31, 2023
Cash and cash equivalents
$ 48,534
$ 29,033
$ 43,182
Escrow deposits
—
—
—
Total cash and cash equivalents and restricted cash
$ 48,534
$ 29,033
$ 43,182
