Updated
The most significant concentration Anterix discloses is a limited number of customers, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: Anterix’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'we generally intend to enter into long-term leasing or sales agreements for our spectrum assets in one county with one customer, or a limited number of customers, in each geographic area'”
Anterix's disclosed concentration risk is customer-based and tied to its core business model: the company generally intends to enter into long-term leasing or sales agreements for its spectrum assets with one customer, or a limited number of customers, in each geographic area. This is a dependency-type exposure of medium disclosed size — the structure of Anterix's go-to-market approach inherently concentrates revenue around a small number of counterparties per county rather than diversifying broadly within each market. Because this describes the company's general business strategy rather than a single anomalous relationship, the concentration is somewhat embedded in how Anterix operates across its many geographic areas: each area carries its own limited-customer risk, though the overall business spans multiple such areas. With no other concentration exposures disclosed, this customer-concentration-by-design pattern is the primary lens through which to view Anterix's revenue durability — the loss or renegotiation of an agreement with a key customer in a given area would affect that area's contribution, though the medium size band suggests this is a manageable, structural feature of the model rather than an acute single-point risk spanning the whole company.
For the engine’s reasoning on ATEX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AD | Array Digital Infrastructure, I | 2 | 0 | 0 | 2 |
| CMCSA | Comcast Corporation | 1 | 1 | 0 | 2 |
| ATEX● | Anterix Inc. | 0 | 1 | 0 | 1 |
| CCOI | Cogent Communications Holdings, | 0 | 1 | 0 | 1 |
| CHTR | Charter Communications, Inc. | 0 | 1 | 0 | 1 |
| ECHO | EchoStar Corporation | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.