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
$ —