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WOODLAND PARK, N.J. - Crown Castle and Anterix (NASDAQ:ATEX) announced Wednesday the launch of Anterix TowerX, a new service designed to help utilities deploy 900 MHz private LTE networks more efficiently. Anterix, currently trading at $18.38 and near its 52-week low, has seen its shares decline by nearly 38% over the past six months despite maintaining a strong balance sheet with more cash than debt.
The turnkey tower solution combines access to qualified tower sites with comprehensive site development services, according to a press release from the companies. Utilities using the service will have access to Crown Castle's portfolio of over 40,000 tower sites across the United States.
TowerX aims to standardize processes for network deployment while helping utilities control costs and reduce project delays. The service focuses on optimizing tower assets for long-term operational needs in utility communications networks. According to InvestingPro data, Anterix has demonstrated revenue growth of nearly 16% over the last twelve months, suggesting potential market demand for its specialized services.
"Every resilient grid starts with resilient infrastructure," said Scott Lang, Anterix President & CEO. "TowerX provides the infrastructure and insight utilities need to modernize their grids."
Dwayne Townsend, Vice President of Tower National Accounts at Crown Castle, noted that the service would help utilities "deploy secure wireless networks faster, reduce capital cost, and de-risk critical infrastructure decisions."
The new offering reinforces Anterix's ecosystem of technology and infrastructure partners, which now includes more than 125 companies working on solutions for utilities.
Anterix holds licensed spectrum in the 900 MHz band throughout the contiguous United States, Alaska, Hawaii, and Puerto Rico, positioning it to enable private wireless broadband solutions for utilities. With a current ratio of 1.54, Anterix's liquid assets exceed its short-term obligations, providing financial flexibility as it expands its service offerings. Crown Castle operates approximately 40,000 cell towers and 90,000 route miles of fiber supporting small cells and fiber solutions across major U.S. markets.For deeper insights into Anterix's financial health and growth prospects, InvestingPro offers comprehensive analysis with additional ProTips and detailed metrics in its Pro Research Report, available for over 1,400 US equities.
In other recent news, Anterix reported its first-quarter earnings for 2025, delivering a notable earnings per share (EPS) of $1.35, surpassing the forecasted -$0.55. This represents a significant earnings surprise of -345.45%. However, the company's revenue of $1.42 million fell short of the expected $1.57 million, resulting in a 9.55% revenue miss. Additionally, Anterix announced changes in its executive leadership, appointing Heather Martin as Chief Marketing Officer and Chief of Staff, and Elena Marquez as Chief Financial Officer. Marquez steps into the role following her tenure as Vice President of Finance and Controller at Anterix, replacing Tim Gray. Gray is leaving the company to explore other opportunities. These developments highlight Anterix's ongoing efforts to drive broadband innovation and strengthen its leadership team.
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