Anterix executives said the company sees growing demand and limited supply for its low-band 900 MHz spectrum, citing recent spectrum transactions and potential satellite-direct-to-device applications as factors that could expand monetization options beyond its traditional utility customer base. During an Oppenheimer fireside chat, Chief Financial Officer Elena Marquez said Anterix completed a regulatory effort in February that expanded its band capacity from 6 MHz to 10 MHz, and that the company is currently engaged in active discussions with about a dozen utility opportunities, many involving pricing renegotiations. Marquez estimated Anterix was trading at roughly $0.60 per MHz-pop based on a market capitalization of approximately $1.8 billion and 3 billion MHz-pops, compared with the approximately $2.50 nationwide average from Auction 113, which would imply a gross asset value of about $7.5 billion for Anterix's spectrum. Chief Regulatory and Communications Officer Chris Guttman-McCabe said a recent SpaceX filing with the Federal Communications Commission raised the possibility of using satellite coverage to satisfy certain spectrum build-out requirements, and that Anterix has filed for an experimental license with direct-to-device satellite company Lynk, with initial tests including data connectivity, text messaging and web browsing described as successful but in early stages. Anterix ended the quarter with no debt and $116 million in cash.
Anterix IncGrowing demand for 900 MHz spectrum from utilities and potential satellite applications expands monetization.
Oppenheimer Holdings IncSuccessful initial tests with Anterix for direct-to-device satellite connectivity.
