Tuesday, May 21, 2024

Anterix’s Q3 2024 Earnings Call Insights: Making 900 MHz Utility Broadband Standard for a Resilient Energy Future

Share

Anterix Inc. (NASDAQ:ATEX) Q3 2024 Earnings Call Transcript

Welcome to the Anterix Fiscal 2024 Third Quarter Investor Conference Call. As we embark on our journey to make 900 MHz Utility Broadband the standard for a cleaner, safer, affordable, and more secure energy future, we’ve seen significant developments and progress in our latest quarter.

Joining us today are Anterix’s leadership team: Rob Schwartz, President and CEO; Ryan Gerbrandt, COO; Tim Gray, CFO; and Chris Guttman-McCabe, Chief Regulatory and Communications Officer.

Quarterly Highlights and Updates

Since our last update, Anterix has welcomed a new utility customer, Tampa Electric, marked a pivotal achievement with the 3GPP standards approval for our 900 MHz spectrum users, and built upon industry-wide support for utility private broadband.

A notable moment this quarter was the inclusion of Anterix in the global channel for utility-private wireless networks, affirmed by 3GPP’s release 18. This ensures a seamless evolution to 5G for 900 MHz spectrum users, safeguarding future investments in private networks.

Demonstrated Intent Scorecard

To quantify indicators of customer intent, our Demonstrated Intent (DI) scorecard plays a critical role. This quarter, we’ve seen four utilities cross the DI threshold, totaling approximately 200 million dollars in potential contract prospects. Currently, 18 utilities exhibit the highest DI, representing about $1.1 billion in potential contracts.

Milestones and Industry Engagement

Further solidifying our commitments, the 3GPP specification updates herald a new era for utilities using our spectrum. Additionally, our active participation in industry-leading events such as DISTRIBUTECH and NARUC further catalyzes support and understanding of the significant benefits of private wireless broadband at 900 MHz.

Anterix’s approach extends beyond providing spectrum; we’re enabling a nationwide platform to support utilities in achieving a resilient energy future. This quarter, we’ve actively engaged with the Department of Energy and national laboratories in efforts to modernize the electric grid, emphasizing the pivotal role of communications in grid resilience and cybersecurity.

Leadership Enrichment

Our executive team is stronger with the addition of Tom Kuhn as Vice Chairman of our Board of Directors. Tom’s vast experience and successful career in advancing public policies for the energy sector will be instrumental as we continue to advocate for and implement utility broadband solutions.

Looking Forward

Anterix stands at the forefront of shaping a future where private wireless broadband networks are integral to the energy sector’s success. We are committed to the long game, focusing on strategic sector-specific strategies that will foster growth and opportunities for our stakeholders.

As we continue along this transformative journey, we are dedicated to fostering partnerships, advancing industry standards, and driving innovation that meets the momentous challenges and opportunities of our time.

Thank you for your continued interest in Anterix. We look forward to updating you on our progress and future milestones.

Jordan Clark
Jordan Clarkhttps://www.businessorbital.com/
Jordan Clark brings a dynamic and investigative approach to business reporting. Holding a degree in Business Administration and a certification in Data Analysis, Jordan has an eye for detail and a knack for uncovering the stories behind the numbers. His career began in the bustling world of Silicon Valley startups, giving him firsthand experience in tech entrepreneurship and venture capital. Jordan's reports often focus on technology's impact on business, startup culture, and emerging

Read more

Latest News