Q4 2025 Anterix Inc Earnings Call
Good day and thank you for standing by welcome Gentex fiscal fourth quarter 2025 earnings Conference call. At this time all participants are in a listen only mode. After the speaker's presentation there'll be a question and answer session. Just a question during the session you will need to press star one on your telephone.
Operator: Good day, and thank you for standing by.
Operator: Welcome to Anterix's fiscal fourth quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode.
Operator: After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised.
You will then hear an automated message advising yohan histories. Please know that today's conference maybe recorded I will now hand, the conference over to your first because that's a shot of Gabelli. Please go ahead.
Operator: Please note that today's conference may be recorded.
Natasha Vecchiarelli: I will now hand the conference over to your first speaker host, Natasha Vecchiarelli. Please go ahead.
Speaker Change: Thank you operator, and good morning, everyone I'm, Natasha Vecchiarelli, Vice President of Investor Relations and corporate Communications and welcome to our fiscal 'twenty five fourth quarter Investor update call.
Natasha Vecchiarelli: Thank you, operator, and good morning, everyone. I'm Natasha Vecchiarelli, Vice President of Investor Relations and Corporate Communications.
Natasha Vecchiarelli: Welcome to our fiscal 25 fourth quarter investor update call.
Natasha Vecchiarelli: Joining me today are Scott Lang, President and CEO, Tim Gray, CFO, Chris Guttman-McCabe, Chief Regulatory and Communications Officer, and Ryan Gerbrandt, COO. Before we begin, please note that today's discussion may include forward-looking statements regarding our outlook, operations, and expected performance. These are based on current assumptions and subject to risks and uncertainty. We do not undertake any obligation to update forward-looking statements.
Joining me today are Scott Lang, President and CEO, Tim Gray our CFO.
Guttman Mccabe: Guttman Mccabe, Chief regulatory and Communications Officer, and Ryan Gerbrandt C O O.
Guttman Mccabe: Before we begin please note that today's discussion may include forward looking statements regarding our outlook operations unexpected performance.
These are based on current assumptions and subject to risks and uncertainties.
Guttman Mccabe: We do not undertake any obligation to update forward looking statements.
Natasha Vecchiarelli: We encourage you to review our SEC filings, including Forms 10-K and 10-Q, for a detailed discussion of these risks, which are available on our website.
Guttman Mccabe: We encourage you to review our SEC filings, including forms 10-K, and 10-Q for a detailed discussion of these risks which are available on our website.
Scott Lang: With that, I'll turn the call over to. Good morning, everyone.
Scott Lang: With that I'll turn the call over to Scott.
Scott Lang: Good morning, everyone.
Scott Lang: I am excited to give you a brief update on the progress we've made since our last earnings call, where we announced three important initiatives to drive growth for Anterix that will return value to our shareholders, our employees, and deliver great benefits to our customers. First, we committed to focus on optimizing our cost structure and streamlining our operation.
Speaker Change: To give you a brief update on the progress we've made since our last earnings call, where we announced three important initiatives to drive growth for <unk> that will return value to our shareholders, our employees and deliver great benefits to our customers.
Speaker Change: First we committed to focus on optimizing our cost structure and streamlining our operations. We are already seeing these benefits that Tim will cover in detail shortly.
Scott Lang: We are already seeing these benefits that Tim will cover in detail shortly.
Scott Lang: Second, we launched Anterix Accelerator, designed to test the correlation between price and action in the industry. We are very pleased with how this initiative has ramped up during the quarter. As of today, we are oversubscribed with utilities that are in active discussions and negotiations for the $250 million of spectrum we made available as part of the program. What we are seeing is clear. The demand for 900 megahertz LTE continues to be strong.
Speaker Change: Second we launched and Terex accelerator.
Speaker Change: Behind the test the correlation between price and action in the industry.
Speaker Change: We are very pleased with how this initiative has ramped up during the quarter.
Speaker Change: As of today, we are oversubscribed with utilities that are in active discussions and negotiations for the $250 million of spectrum, we made available as part of the program.
Speaker Change: What we are seeing is clear that.
Speaker Change: The demand for 900 megahertz LTE continues to be strong.
Scott Lang: And finally, the strategic review process that Morgan Stanley is leading has been active and continued.
Speaker Change: And finally, the strategic review process that Morgan Stanley is leading has been active and continues we.
Scott Lang: We entered it from a position of strength, with zero debt, nearly $150 million in outstanding contracted proceeds, a $3 billion pipeline, a proven deployment model, and a disciplined cost We have no predetermined outcome, particularly at our current market. This initiative continues and we will keep you updated as appropriate.
Speaker Change: We entered it from a position of strength with zero debt nearly $150 million in outstanding contracted proceeds a $3 billion pipeline, a proven deployment model and a disciplined cost structure, we have no pre determined outcome.
Speaker Change: Particularly at our current market cap.
Speaker Change: This initiative continues and we will keep you updated as appropriate.
Scott Lang: Before I introduce Chris to give us an update on the FCC process, I want to address a question that we've been asked about other spectrum choices that may become available to the utility industry. One of those that might be more well-known is an 800-megapixel camera. We are confident that our economic along with our market leadership of actual deployments and our long-term commitment to the industry will continue to be the utility's preferred choice. to reinforce that. Our current 3x3 offering is being deployed at scale and is already delivering the robust and powerful bandwidth that utilities need to meet today's demands and support virtually any use case well into the future.
Speaker Change: Before I introduce Chris to give us an update on the FCC process.
Speaker Change: I want to address a question that we've been asked about other spectrum choices that may become available to the utility industry.
Speaker Change: One of those that might be more well known is that 800 megahertz.
Speaker Change: We are confident that our economics, along with our market leadership of actual deployments and our long term commitment to the industry will continue to be the utilities preferred choice.
Speaker Change: To reinforce this our current three by three offering is being deployed at scale and is already delivering for the robust and powerful bandwidth that utilities need to meet today's demands and support virtually any use case well into the future.
Speaker Change: But as we have said before.
Scott Lang: But as we have said before, we are not standing still. We are pushing forward. Our momentum toward a 5x5 future is accelerating, unlocking even greater potential for the digital grid. We are in a strong position as the market leaders.
Speaker Change: We are not standing still we are pushing forward.
Speaker Change: Our momentum toward a five by five future is accelerating.
Speaker Change: Locking even greater potential for the digital grid.
Speaker Change: We are in a strong position as the market leader, we will continue to be aggressive to drive value for this company and I am excited for our future.
Scott Lang: We will continue to be aggressive to drive value for this company, and I am excited for our future.
Chris Guttman-McCabe: With that, I will hand it over to Chris. Thank you, Scott.
Speaker Change: With that I will hand, it over to Chris.
Chris: Thank you Scott and good morning, everyone.
Chris Guttman-McCabe: And good morning, everyone. I'm excited about the momentum we've seen since the last investor call. To recap, earlier in 2025, the FCC developed and adopted a notice of proposed rulemaking to modify the 900 MHz rules to allow for a 5 by 5 MHz opportunity. Since our last call, both the initial comment period and the reply comment period have now officially closed. What came through loud and clear in those filings was a chorus of support. from multiple utilities, 20 technology companies like Ericsson, GE, Nokia, and more, as well as multiple industry associations, all calling for an evolution of the band to support the growing demand for private, secure, dedicated wireless network.
Speaker Change: I am excited about the momentum we've seen since the last investor call.
Chris: To recap.
Chris: Earlier in 2025, the FCC developed and adopted a notice of proposed rulemaking to modify the 900 megahertz rules to allow for a five by five megahertz opportunity.
Chris: Since our last call both the initial comment period and the reply comment period have now officially closed.
Chris: What came through loud and clear in those filings was of course of support.
Chris: For multiple utilities 20 technology companies like Ericsson, GE, Nokia and more as well as multiple industry associations, all calling for an evolution of the band to support the growing demand for private secure dedicated wireless networks.
Chris: Again, we're excited about the current status of the proceeding and believe there is a real opportunity to cement the United States as a global leader in Smart grid communications as well as private network deployments by authorizing this next phase of broadband innovation.
Chris Guttman-McCabe: Again, we're excited about the current status of the proceeding and believe there is a real opportunity to cement the United States as a global leader in smart grid communications, as well as private network deployments, by authorizing this next phase of broadband innovation. The case has been made, the record is strong, and we're optimistic about a forward-looking outcome. As stewards of the 900 megahertz band, we will continue to engage with the FCC and with stakeholders in the proceeding in this final stage of the process. urging a timely and favorable outcome. We thank Chairman Carr for his leadership and the commission for its hard work to date.
Chris: The case has been made the record is strong and we're optimistic about our forward looking outcome.
Chris: As stewards of the 900 megahertz band, we will continue to engage with the FCC and with stakeholders in the proceeding in this final stage of the process urging a timely and favorable outcome.
Speaker Change: We think chairman car for his leadership.
Chris: And the commission for its hard work to date and we look forward to updating you as this proceeding moves towards a conclusion.
Chris Guttman-McCabe: And we look forward to updating you as this proceeding moves towards a conclusion.
Tim Gray: With that, I'll turn it over to Tim to walk through our financial proposal. Thanks, Chris, and good morning, all. As a reminder, in our fiscal 25, we executed key spectrum sales agreements with Encore and LCRA. two critical steps at expanding 900 megahertz broadband coverage across tech. We've now contracted Spectrum that covers 93% of Texas County. creating a powerful regional deployment model that can be replicated nationwide. In addition, these deals for a combined $116 million represent our best year of contracted proceeds. We also received milestone payments of $44 million from Encore and $8.5 million from AmeriCorps.
Speaker Change: With that I'll turn it over to Tim to walk through our financial performance.
Tim Gray: Thanks, Chris and good morning, all.
Tim Gray: As a reminder, in our fiscal 'twenty five we executed key spectrum sales agreements with encore and LCR.
Chris: Two critical steps that expanding 900 megahertz broadband coverage across Texas.
Chris: We've now contracted spectrum that covers 93% of Texas counties, creating.
Chris: Creating a powerful regional deployment model that can be replicated nationwide.
Chris: In addition, these deals for a combined $116 million represent our best year of contracted proceeds.
Chris: We also received milestone payments of $44 million from encore and $8 $5 million from Ameren.
Tim Gray: and successfully accelerated delivery of Spectrum to a customer ahead of schedule resulting in an additional $34 million in cash received at the end of January. We close the fourth quarter of fiscal year 25 with over $47 million in cash and no debt, a position we view as a meaningful strategic advantage. Additionally, we have approximately $150 million of contracted proceeds outstanding. with $80 million expected in fiscal 26. These are not potential deals, they're binding commitments that provide clear visibility and confidence in our future cash flow.
Chris: And successfully accelerated delivery of spectrum to a customer ahead of schedule, resulting in an additional $34 million of cash received at the end of January.
Chris: We closed the fourth quarter of fiscal year, 'twenty, five with over $47 million of cash and no debt a position, we view as a meaningful strategic advantage.
Chris: Additionally, we have approximately $150 million of contracted proceeds outstanding.
Chris: With the $80 million expected in fiscal 'twenty six.
Chris: Or not potential deals they are binding commitments that provide clear visibility and confidence in our future cash flow.
Speaker Change: As Scott mentioned.
Tim Gray: As Scott mentioned, we undertook a thorough review of our cost structure and implemented targeted changes to strengthen our long-term financial These efforts resulted in roughly a $4 million reduction to our operating expense run rate from the first half of fiscal 25, enhancing both efficiency and cash flow. Importantly, we achieve these savings without impacting our ability to serve our customers or advance strategic priorities. We're now operating Liener and continue to be well-positioned to execute.
Speaker Change: We undertook a thorough review of our cost structure and implemented targeted changes to strengthen our long term financial discipline.
Chris: These efforts resulted in roughly a $4 million reduction to our operating expense run rate from the first half of fiscal 'twenty five.
Chris: Enhancing both efficiency and cash flow.
Chris: Importantly, we achieved these savings without impacting our ability to serve our customers or advanced strategic priorities.
Chris: We're now operating leaner and continue to be well positioned to execute.
Chris: As we look toward FY 'twenty six.
Tim Gray: As we look toward FY26... We are entering the year with a healthy cash position. $80 million in contracted payments expected during the fiscal year. A streamlined cost structure that enhances cash generation. and a capital light model, where customer funded deployments allow us to scale without incurring significant capex. We will continue to focus on monetizing our pipeline, expanding our customer base, and delivering value through both strategic execution and financial discipline.
Chris: We are entering the year with a healthy cash position.
Chris: $80 million in contracted payments expected during the fiscal year.
Chris: Streamline cost structure that enhances cash generation.
Chris: And a capital light model, where customer funded deployments allow us to scale without incurring significant capex.
Chris: We will continue to focus on monetizing our pipeline.
Chris: Expanding our customer base and delivering value through both strategic execution and financial discipline.
Operator: With that, let's open the line for questions. Thank you. Ladies and gentlemen, if you would like to ask a question, you will need to press star 11 on your telephone and wait for your name to be announced. To withdraw your question, simply press star 11 again. Please stand by while we compile the Q&A roster.
Chris: With that.
Chris: Let's open the line for questions.
Chris: Thank you.
Chris: Ladies and gentlemen, I would like to ask a question you May press Star one one on your telephone and wait for your name to be announced to withdraw your question simply press Star One again, please standby, while we compile the Q&A roster.
Speaker Change: Our first question coming from the line of George Sutton from Craig Hallum. Your line is now open.
George Sutton: Our first question coming from the line of George Sutton from Cracow, Milan, is now open. Thank you. I think the real meaningful update is the fact that you're oversubscribed on the 250 million accelerator program. Can you just give us a sense of what are the incentives? I assume there's multiple players involved. Is this a first-come, first-served scenario? Can you just walk through how these customers are thinking of it?
Chris: Thank you I think the real meaningful update as the.
Chris: The fact that you are oversubscribed on the $250 million.
Chris: Accelerated program can you just give us a sense of.
Chris: What are the incentives I assume theres multiple players involved.
Chris: Is this a first come first serve scenario can you just walk through.
Chris: These customers are thinking of it.
Scott Lang: Hey George, good to hear from you, it's Scott here. Yeah, you know, we launched this, and we've been, at the last quarterly earnings call, we've been very pleased with the energy this has picked up, and, you know, there's a number of players involved, the negotiations are very active, and we couldn't be really more pleased. There were, just to give you an idea, there were well over a dozen utilities that participated in it, and the demand for private LTE 900 megahertz was very strong, and we learned a tremendous amount, and I would also say every one of those utilities have continued to stay engaged and in active conversations, and then a large number of them have continued all the way through to where we're actually negotiating, and you can imagine, to see that kind of a ramp up in one quarter in the utility industry, I think, is pretty well, in my entire career, nearly unheard of, a one quarter for the utility industry to kind of rally and get behind the demand, and as we said in the prepared remarks, kind of testing this correlation between economics and action, and we couldn't feel better about the position that we're in with the economics we can bring to the table, and the powerful results that we're seeing with our existing customers.
Scott Lang: Hey, George good to hear from you it's Scott here.
Chris: Yes.
Chris: We launched this and we've been at the last quarterly earnings call. We've been very pleased with the energy. This is picked up.
Chris: And.
Chris: There is a number of players involved there is negotiations are very active and we couldnt be really more pleased there were just give you an idea there were well over a dozen utilities that participated in it.
Chris: The demand for private LTE 900 megahertz was very strong.
Chris: And we learned a tremendous amount.
Chris: And I would also say every one of those utilities have continued to stay engaged and in active conversations and then a large number of them have continued all the way through to where we're actually negotiating and you could imagine.
Chris: That kind of a ramp up in one quarter in the utility industry.
Chris: I think is pretty well in my entire career.
Chris: Nearly unheard of.
Chris: One quarter for the utility industry to kind of rally and get behind.
Chris: The demand and as we said in the prepared remarks kind of testing this correlation between economics and action.
Chris: We couldnt feel better about the position that we're in with the economics, we can bring to the table and the powerful results that we're seeing with our existing customers.
Scott Lang: and how much robustness that they're seeing from the network. So it's been active. We've been very pleased. The conversations and the negotiations are very active, and we're pleased with where we're at.
Chris: And how much robustness that they're seeing from the network. So it's been active we've been very pleased the conversations.
Chris: And then negotiations are very active and we're pleased with where we're at.
Scott Lang: So you have a partner program in addition to your program that is part of the accelerator program. Have some of these utilities begun to engage with some of the partners as a result? And is that part of the negotiation? There have been other companies that have participated in the Accelerator Program. I'll let Ryan speak to a couple of those in a moment. I would tell you, we're not gonna get into exactly which ones or where they're at in their own negotiations, but I will tell you that the consistent... Thiem is.
Chris: So you have a partner program. In addition to your program.
Chris: As part of the accelerator program have some of these utilities began to engage with.
Chris: With some of the partners as a result is that part of the negotiation.
Chris: There have been other companies that have participated in the <unk> and the accelerated program I'll, let Brian speak to a couple of those in a moment I would tell you we are not going to get into exactly which ones are where they're at in their own negotiations, but I will tell you that the consist.
Chris: <unk>.
Chris: Theme is.
Scott Lang: The C-level exposure of the importance of making network-first decision really tees up the additional players that are getting involved with bringing these holistic solutions live and standing these networks up.
Speaker Change: The C level exposure of the importance of making network first decision really tees up the additional players that are getting involved with bringing these holistic solutions live and standing these networks.
Ryan Gerbrandt: So, but Ryan, you want to talk about a couple of specific companies that are, that have kind of jumped in and been part of the program? Yeah, hey, I'd be happy to.
Speaker Change: But Ryan do you want to talk about a couple of specific companies that are that have kind of jumped in and been part of the program.
Ryan: Yes, I'd be happy to good morning, George.
Ryan Gerbrandt: Good morning, George. And yeah, what you're noting is, you know, we have recognized kind of as we initiated the accelerator program, still consistent with what we've said before, is that Spectrum still is just one part of the overall decision making that we're really trying to bring utilities through where, you know, Spectrum is the first of, you know, several that they have to make. And it was critical as we were contemplating how to help them through that to, you know, encompass as much of the kind of larger technology partners as necessary to help facilitate that. And, you know, we were delighted to have Ericsson, Nokia, and GE jump in, as you saw in the announcement, who defined really what were bespoke products to this project, to this program, meaning that they were unique, you know, that these were unique packages specifically targeted to provide a level of support and acceleration to these utilities.
Ryan: And yes.
Speaker Change: You are noting is we have recognized kind of as we initiated the accelerated program still consistent with what we've said before is that spectrum is still is just one part of the overall decision, making that we're really trying to bring utilities through where spectrum is the first of several that they have to make.
Ryan: It was critical as we were contemplating how to help them through that process to encompass as much of the kind of larger technology partners as necessary to help facilitate that.
Ryan: And we were delighted to have Ericsson Nokia and GE jump in as you saw in the announcement, who defined really what we're but spoke products to this to this project to this program.
Ryan: Meaning that they were unique that these were unique packages specifically targeted.
Ryan: To provide a level of support and acceleration to these utilities.
Ryan Gerbrandt: And as part of the conversations across the overarching aspects of the program, of the accelerator program. Super.
Ryan: And as part of the conversations across the overarching aspects of the program of the accelerated program.
Speaker Change: Super One last question, so I'm curious how the five by five.
George Sutton: One last question. So, I'm curious how the 5x5 could potentially slow some of those who are requiring that as sort of their launch thought process. So, hypothetically, if I'm a potential customer, I want to take advantage of this program, but I also know that 5x5 is really my requirement. Can I still be involved in this program? Or how does that work?
Speaker Change: Potentially slow somewhat.
Ryan: For those who are requiring that is sort of their launch thought process. So quickly.
Ryan: Historically, if I may potential customer I wanted to take advantage of this program, but I also know that 505 is really my requirement.
Speaker Change: Can I still be involved in this program or how does that work.
Scott Lang: George, great question. We haven't seen any hesitation from utilities to jump in with 3x3 when they're seeing the results coming from our existing deployments and how much power that is still remaining in these current deployments that are being pushed and there's still room. And having said that, I would say they're all excited about our 5x5 plan and the more they learn about it, it makes them even more comfortable that 3x3 is more than enough bandwidth for the many years ahead that they see of any use case they can throw at it. But the trajectory to 5x5 is very powerful for us, but we haven't seen anybody hesitate of the concern with the just 3x3 at this point.
Speaker Change: George Great question, we haven't seen any hesitation from utilities to jump in.
Speaker Change: With three by three when they are seeing the results coming from our existing deployments.
Speaker Change: The how much power of that is still remaining in these current deployments that are being pushed and theres still room.
Speaker Change: Having said that I would say they are all excited about our buyback five plan and the more they learned about it.
Speaker Change: Sure.
Speaker Change: It makes them even more comfortable the three by three is more than enough bandwidth for many years ahead that they see of any use case, they can throw at it but.
Speaker Change: Trajectory two five by five is very powerful for us and.
Speaker Change: We haven't seen anybody hesitate the concern with the with the just three by three at this point in time.
Speaker Change: Okay. Thanks, guys.
George Sutton: Okay.
Operator: Thanks, guys. Thank you, George. Thank you.
George: Thank you George.
George: Thank you.
Operator: And as a reminder, to ask a question, please press star 1-1.
Speaker Change: And as a reminder to ask a question. Please press star one.
Michael Crawford: Our next question coming from the line of Michael Crawford from Brea Valley Securities. Your line is now open. Come on, Mike. Morning. Thank you.
Speaker Change: Next question coming from the line of Mike Crawford from B Riley Securities. Your line is now open.
George: Hello, Mike.
George: Morning.
Ryan Gerbrandt: Who else has recently joined your Active Ecosystem besides Digi International, which put out some news in that regard a couple days ago.
George: Right.
George: Hello.
George: Has recently joined.
George: And to Eric's active ecosystem, Besides digi international.
George: Put out some news regarding a couple of days ago.
George: Okay.
Ryan Gerbrandt: Ryan, do you want to take that? Yeah, I can speak a little bit to it. I don't have the full list of kind of who joined recently. I mean, it's probably noticing, Mike, I mean, we've continued to focus on, in partnership with our advisory board, you know, another direction of utility executives of what is necessary as we continue to strategically grow that, you know, and so I anticipate we're going to continue to see a handful, you know, of new come in, I think we're somewhere 140, 140 plus, you know, total participants in the program right now.
Brian: Brian do you want to take that.
Brian: Yes, I can speak a little bit too and I don't know if the full list of kind of who joined recently I mean, it's probably noticing Mike I mean, we've continued to focus on in partnership with our advisory Board. Another direction of utility executives of what is necessary as we continue to strategically grow that.
Brian: And so I anticipate we're going to continue to see a handful of new come in I think we're somewhere 140 to 140 plus of total participants in the program right now.
Ryan Gerbrandt: The Digi announcement you saw was actually a product offering that they put out, specifically an IoT edge gateway, you know, that was capable of supporting some edge computing capacity, a great innovation. I mean, I think this is where we're going to continue to see the intersection of a lot of the AI, you know, kind of edge conversation and what we're trying to do. It's, you know, it's just, it's a natural evolution of these use cases where connectivity really provides data and real time access to enable those kinds of more sophisticated solutions as we see it start playing out in the market.
George: The Disney announcement, you saw was actually a product offering that they put out specifically in Iot edge gateway.
George: That was capable of supporting some edge computing capacity a great innovation I mean, I think this is where we're going to continue to see the intersection of a lot of the AI kind of edge conversation and what we're trying to do.
George: It's just it's a natural evolution of these use cases, where connectivity really provides the data in real time access to enable those kinds of more sophisticated solutions as we see it start playing out in the market. So seeing those product lines come in natively kind of off the shelf supporting 900 is exactly what we would expect to see with a growing <unk>.
Ryan Gerbrandt: So seeing those product lines come in natively, you know, kind of off the shelf supporting 900 is exactly what we would expect to see with a growing ecosystem, and ultimately being able to put whole things in. So we're pretty excited about it overall.
George: System, and ultimately being able to put all things in so we're pretty excited about it overall.
George: Okay. Thank you and then.
Michael Crawford: Okay, thank you.
Michael Crawford: And then. is And if grain management acquires this 800 megahertz spectrum and targets utilities, what would happen if? If that entity negotiated a deal with the utility in a region where you have spectrum, then what would be the fallback, I guess, strategy to deploy your spectrum in a region where an instance like that might occur?
George: Yes.
Speaker Change: If grain management acquires the 800 megahertz spectrum targets utilities.
Speaker Change: What would what would happen.
Speaker Change: Is that a.
Speaker Change: <unk> the deal what the utility in the region, where you have the spectrum and what would what would be what would you what would be the fall back I guess strategy to deploy.
Speaker Change: More spectrum in a region, where it looks like that might occur.
Scott Lang: Well, there were a lot of ifs there. You know, the more spectrum the better. We'd like where we are positioned with 900 megahertz. We like where we are with our proven deployments. And when I talk about proven deployments, remember, seven utilities, 400 million dollars of contracts, have now moved over the last few years from lab to field. And they are now providing references for these next wave of utilities that are in the queue and we're negotiating with to expand the 900. Our economics are extremely powerful of what we can bring to the table.
Speaker Change: Well there were a lot of ifs there.
Speaker Change: Sure.
Speaker Change: We.
Speaker Change: More spectrum the better.
Speaker Change: We like where we are positioned with 900 megahertz, we like where we are with our proven deployments and when I talk about proven deployments remember seven utilities $400 million of contracts have now moved over the last few years from lab to field.
Speaker Change: And they are now providing references for these next wave of utilities that are in the queue and we're negotiating with.
Speaker Change: To expand the 900.
Speaker Change: Our economics are extremely powerful.
Speaker Change: What we can bring to the table when we look at.
Scott Lang: When we look at current market cap and the accelerator program, we still have dry powder and we're going to continue to be aggressive as the market leader to continue to show our market leadership across this industry. Regarding 800, I think it could become an alternative, it could become a choice, but we think we're going to be in a great position to continue to be the preferred choice for utilities when they look at it holistically from what they're seeing in the field. But any use cases on the near-term horizon and the economics that we bring to the table and the fact that our current three-by-three is very powerful, all the device manufacturers are completely behind it, there is no pause in our plan to get to five-by-five.
Speaker Change: Current market cap.
Speaker Change: And the accelerator program, we still have dry powder and we're going to continue to be aggressive as the market leader to continue to show our market leadership across this industry regarding 800.
Speaker Change: I think it could become an alternative it could become a choice, but we think we're going to be in a great position.
Speaker Change: <unk> continue to be the preferred choice for the utilities when they look at it holistically from a what they're seeing in that what we're seeing in the field, but any use cases on the near term horizon and the economics that we bring to the table and the fact that our current three by three is very powerful all the divi.
Speaker Change: Nice manufacturers are completely behind it there is no pause in our in.
Speaker Change: Our plan to get to five by five and in fact as Chris shared in our prepared remarks, we are very pleased with the progress of that.
Michael Crawford: And in fact, as Chris shared in our prepared remarks, we are very pleased with the progress of that. So I guess that would be my... hopefully that kind of starts to frame of how we're thinking about it, Mike. Yeah, thank you.
Speaker Change: So I guess I guess that would be my I, hopefully that kind of starts to frame of how we're thinking about it Mike.
Speaker Change: Well. Thank you and then just maybe.
Michael Crawford: And then just maybe.
Tim Gray: Final question for me is, how... It's nice that you have this 150, 160 million of contracted proceeds coming in in the next couple of years. Do you have any goal for how much you would like to add to that in deals signed in the next, say, 12 to 18 months?
Speaker Change: Idaho.
Speaker Change: Question for me is.
Speaker Change:
Speaker Change: It's nice that you have.
Speaker Change: 150 $160 million of contracted proceeds coming in in the next couple of years.
Speaker Change: Hi.
Speaker Change: Do you have any goal for how.
Speaker Change: How much you would like to add to that and deals signed in the next say.
Speaker Change: 12 months to 18 months.
Tim Gray: Tim, do you want to talk a little bit about kind of how we're looking at our next 12 months, the rest of this fiscal year, please? Sure. So, Mike, our internal goals are just to grow from the $116 million that we had last year, which was the best year that we've had. We believe with the Accelerator Program, we're going to be able to do that quite successfully. I'm not going to give any specific set of numbers, but we project that we will be able to grow a pretty significant percentage from the $116 million that we did last year in contract proceeds.
Tim Gray: Tim do you want to talk a little bit about kind of work how we're looking at are.
Tim Gray: Next 12 months the rest of this fiscal year. Please.
Speaker Change: Sure so.
Speaker Change: Mike.
Speaker Change: Internal goals are to grow from the $116 million that we had last year.
Speaker Change: Which was the best year that we've had.
Speaker Change: We believe with the accelerated program, we're going to be able to do that.
Speaker Change: Quite successfully.
Speaker Change: Not going to give any specific set of numbers, but we think we projected we will be able to grow.
Speaker Change: A pretty significant percentage from that 116 that we did last year and contract proceeds.
Speaker Change: Okay.
Speaker Change: Okay, Alright, thank you very much.
Michael Crawford: Okay, all right.
Michael Crawford: Thank you very much. Thanks for the question, Mike. Have a great day. Thank you.
Speaker Change: For the question, Mike have a great day.
Speaker Change: Sure.
Speaker Change: Thank you and I will now turn the call back over to Mr. Scott Lang for any closing remarks.
Scott Lang: And I will now turn the call back over to Mr. Scott Lang for any closing remarks. This concludes today's conference call. Thank you for your participation, and you may now disconnect.
Speaker Change: I want to do a call out for our customers that are really teamed up with us in full partnership to drive this movement across the industry I want to thank my team and the <unk> team that are continuing to drive great results that I have a pleasure seeing every single day all of our partners.
Speaker Change: And in.
Speaker Change: And the customers that were in conversations with the negotiations with we're excited to be great partners and great stewards in the industry.
Speaker Change: And I look forward to checking in with you all of you in the next quarter or so we'll continue to share the progress that we're making.
Speaker Change: And the company.
Speaker Change: And that's it for now and I Hope you all have a great day. Thank you.
Speaker Change: This conclude today's conference call. Thank you for your participation and you may now disconnect.
Speaker Change: Okay.
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