Anterix reported fiscal 2026 results with $127 million in cash collected against an $80 million consensus forecast, ending the year with $98 million in cash and zero debt. The company added four new utility spectrum customers and saw its Catalyx platform interest more than double year-over-year. Despite a wider-than-expected EPS miss, investors are rewarding the stock as the market focuses on Anterix's expanding spectrum monetization pipeline. The 900 MHz licensed spectrum assets held by Anterix are considered scarce and difficult to replicate, underpinning long-term valuation support.