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

And the concept of now what’s being talked about in the industry as smart metering 2.0 is really becoming an evolving story that is really only capable because of the investments that we see now in front of us with broadband communications and the ability to do more with the connected devices, provide connectivity not just to the meter on the side of a consumer’s home, but into the devices that they call behind the meter with renewables and residential solar and everything else that comes with it. It’s really an exploding opportunity we’re seeing in the ecosystem and across the industry at large will have a total of something like 40 of our ecosystem members just to give you an example at our booth with us at DISTRIBUTECH, so we’ll have a big team.

Obviously they’re present, we’re anticipating a lot of direct customer interaction as we have for the last few years.

Tim Gray: So, Alana, this is Tim. On the buyback, so we spent about $8 million this last quarter and then the previous quarter was about $10.8 million. So it will have variability quarter-to-quarter based on current liquidity, what we’re expecting to spend particularly around clearing at that time and then looking at what the near-term cash inflows are going to be, but I would expect us to remain very active and we are in the $250 million program that we just announced. So we’ll continue to be very active. Quarter-to-quarter, I can’t say what exactly those numbers are going to be, but hopefully we’ll stay within the vicinity of where we’ve been in the last couple of quarters.

Alana Papa: Got it. Thank you.

Operator: Thank you. [Operator Instructions] There are no further questions. This concludes our question-and-answer session. I’d like to turn the call back to Robert Schwartz for any closing remarks.

Rob Schwartz: Thanks MJ. Thanks everyone for your participation this morning. As you heard, we’re really excited about the progress we made this quarter and we remain laser focused on advancing and completing our contracts towards our mission of becoming the de facto provider of wireless broadband in our nation’s utilities. Look forward to sharing more with you all soon, and look forward to our next call. Thank you very much.

Operator: The conference has now concluded. Thank you for your participation. You may now disconnect your lines.