Anterix Inc. (NASDAQ:ATEX) Q3 2023 Earnings Call Transcript

Robert Schwartz: Great. And again, I apologize for the connectivity challenges here. There’s a joke in there some about how many telecommunications investors and executives it takes to connect the phone call. What’s changed? It’s just the continued evolution. You’re absolutely right. We’ve been talking about these issues and recognize them and learning a lot from the customers. For us, what we realized is our goal of — our mission of becoming a de facto provider of these services to utilities. I consider that to be the war that we’re winning and the progress we’re making what’s challenging and more so all the time is predicting the timing of the individual battles to get us there. And so we really decided it just doesn’t make sense for us to provide those projections on contracts going forward.

But instead really focusing on what we see as a much more transparent and fact-based scorecard focusing on our demonstrated intent. And just one thing before I pass over to Ryan. I mean, what’s unusual in this kind of conservative audience of utility executives is to see them well ahead of a contracting process and demonstrating this intent through so many kinds of factors that we’re going to go through. There’s well over 20 factors that we measure in this demonstrated intent. But let me let Ryan talk about that a little further and maybe the historic reference point.

Ryan Gerbrandt: Simon. Yes. So as we’ve seen kind of as we’ve been tracking the opportunities through and just for a little bit of a reflection, as I said in the prepared remarks, we’re continuing the activities that go along with the pipeline. And what we found is these different indicators of a tech play out through many of the phases of the pipeline but that the pipeline itself in just having 3 categories, is overly granular in terms of how we can provide information and transparency view. So these elements give us more granularity and more ability to be able to track the change over time. And absolutely we’ve seen significant changes over the — looking back over the last 3, 6, 9 months. A couple of the things that I’ll highlight a few of the metrics didn’t even exist at categories, frankly, until some of the initiatives played out for ourselves in the market.

For example, with the activities that we’ve seen with UBBA or , where we see speakers, that we just came out of the event last week. And so again, a significant amount of utilities out in the public speaking about what they’re doing opportunistically with their private LTE network. Same thing with like VIL funding, which is another one that I referenced in terms of active engagement that we’re seeing with Utilities pursuing their opportunities with funding associated with broadband networks. We’ve also seen more regulatory filings progress rented. Those don’t happen quite as often as we see with some of the other metrics, but there are consistent signs we continue to see as they’re putting those publications out and making their financing available around what they’re trying to do with broadband.

Now specifically to your other question around the other deals that we’ve been talking about. Obviously, we’ve spoken about 4 deals in contract to get some transparency to what we’re seeing in the near-term opportunities in the pipeline. One of those, as we’ve discussed on the last call, was clearly Xcel. The other 3, as you would anticipate, are clearly front and center in this highest category of demonstrated intent and we’re continuing to see good progress. In fact, a couple of data points on those coming out of our model, 2 of them specifically do have the rate cases all of them have capital plans in place that are driving their internal programs for PLT and one is pursuing an infrastructure RFP, but we do continue to see good progress on those as they’re continuing to work through their individual processes and the pursuit of broadband.