Anterix Inc (NASDAQ:ATEX) Q1 2021 Earnings Conference Call - Final Transcript

Good afternoon, ladies and gentlemen, and welcome to the Anterix Investor Conference Call. At this time, all participants have been placed on a listen-only mode and the floor will be open for your questions and comments following the presentation.

It is now my pleasure to turn the floor over to your host, Natasha Vecchiarelli. Ma'am, the floor is yours.

Thank you, Catherine. Good afternoon everyone and thank you for joining us. With me today are Morgan O'Brien, our Executive Chairman; Rob Schwartz, our President and CEO; Ryan Gerbrandt our COO; and Tim Gray, our CFO.

Before we begin, please note that any statements we make during this call that are not based on historical facts constitute forward-looking statements and our actual results could differ materially from those implied. Information regarding the risk factors that could cause such differences can be found in our public filings, including report on Form 10-K filed with the SEC on May 18, 2020 and our quarterly report on Form 10-Q for the quarter ended June 30, 2020 filed with the SEC on August 6, 2020. Form 10-K and Form 10-Q can be found on our Investor Relations webpage.

With that, I'll now turn the call over to Morgan O'Brien.

Thanks Natasha. Welcome back, and good afternoon to our investors. Today is my first opportunity to address this audience since in July Anterix promoted Rob Schwartz to the role of CEO and made me as the Executive Chairman of the Board. In my new role, I will continue to pursue my highest priority in building shareholder value, but I'll do that by assisting Rob and his team to run the company. At the outset, let me say that the transition has been seamless, and I could not be happier with our progress and outlook. I want to reserve the bulk of our time this afternoon for Rob and for Ryan Gerbrandt, our Chief Operating Officer to report on the many areas of progress that they're managing.

So I can patch up the opportunity after all these years to share one last report on the FCC Report and Order. As expected, the FCC rulemaking process, which included the issuance of that order came to an end on August 27. Without any party asking the FCC to reconsider the rules that adopted to create the 900 megahertz broadband opportunity or the FCC changing its mind on its own motion. So this date passing means finality for the rules, which are foundational to our business case and give us the unique position at 900 megahertz to bring nationwide broadband to the critical infrastructure industries. Our analysis of the new rules plus constructive further discussions with FCC staff corroborate our view that this outcome could not have been better for our shareholders. We believe your patience has been rewarded amply.

A quick introduction from my chair to this afternoon's reports from Rob, Ryan and Tim includes these highlights. Our message of the availability of new wireless broadband spectrum has been promulgated