Array Digital Infrastructure Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Array Digital Infrastructure Inc. reported revenue of $163.0M (-95.7% year on year) and net income of $172.3M.
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total operating revenues | $163.0M | $3.8B | $3.9B | $4.2B |
| Cost of goods and services sold | $79.5M | $1.6B | $1.7B | $2.0B |
| Selling, general and administrative | $84.4M | $1.3B | $1.4B | $1.4B |
| Depreciation, amortization and accretion | $48.3M | $665.0M | $656.0M | $700.0M |
| Loss on impairment of licenses | $47.7M | $136.0M | $0 | $3.0M |
| (Gain) loss on asset disposals, net | $1.7M | $18.0M | $17.0M | $19.0M |
| (Gain) loss on license sales and exchanges, net | ($6.1M) | $3.0M | ($2.0M) | $0 |
| Total operating expenses | $255.5M | $3.8B | $3.8B | $4.1B |
| Operating income (loss) | ($92.5M) | ($12.0M) | $139.0M | $69.0M |
| Equity in earnings of unconsolidated entities | $173.8M | $161.0M | $158.0M | $158.0M |
| Interest and dividend income | $18.9M | $12.0M | $10.0M | $8.0M |
| Interest expense | ($28.2M) | ($183.0M) | ($196.0M) | ($163.0M) |
| Short-term imputed spectrum lease income | $69.0M | — | — | — |
| Other, net | $169.0K | — | — | — |
| Total other income | $233.7M | ($10.0M) | ($28.0M) | $3.0M |
| Income (loss) before income taxes | $141.1M | ($22.0M) | $111.0M | $72.0M |
| Income tax expense (benefit) | ($31.1M) | $10.0M | $53.0M | $37.0M |
| Net income (loss) from continuing operations | $172.3M | — | — | — |
| Less: Net income from continuing operations attributable to noncontrolling interests, net of tax | $2.6M | — | — | — |
| Net income (loss) from continuing operations attributable to Array shareholders | $169.7M | — | — | — |
| Net income (loss) from discontinued operations | ($103.1M) | — | — | — |
| Less: Net income from discontinued operations attributable to noncontrolling interests, net of tax | $17.8M | — | — | — |
| Net income (loss) from discontinued operations attributable to Array shareholders | ($120.9M) | — | — | — |
| Net income (loss) | $69.2M | ($32.0M) | $58.0M | $35.0M |
| Less: Net income attributable to noncontrolling interests, net of tax | $20.4M | $7.0M | $4.0M | $5.0M |
| Net income (loss) attributable to Array shareholders | $48.8M | ($39.0M) | $54.0M | $30.0M |
| Basic weighted average shares outstanding (in shares) | 85.9M | 86.0M | 85.0M | 85.0M |
| Basic earnings (loss) per share from continuing operations attributable to Array shareholders | $1.98 | — | — | — |
| Basic earnings (loss) per share from discontinued operations attributable to Array shareholders | -$1.41 | — | — | — |
| Basic earnings (loss) per share attributable to Array shareholders | $0.57 | -$0.46 | $0.64 | $0.35 |
| Diluted weighted average shares outstanding (in shares) | 87.3M | 86.0M | 87.0M | 86.0M |
| Diluted earnings (loss) per share from continuing operations attributable to Array shareholders | $1.94 | — | — | — |
| Diluted earnings (loss) per share from discontinued operations attributable to Array shareholders | -$1.38 | — | — | — |
| Diluted earnings (loss) per share attributable to Array shareholders | $0.56 | -$0.46 | $0.63 | $0.35 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Total operating revenues | $54.1M | $52.0M | $47.1M | $916.0M |
| Cost of operations (excluding Depreciation, amortization and accretion reported below) | $23.5M | $21.6M | $21.0M | $392.0M |
| Selling, general and administrative | $22.9M | $12.7M | $20.5M | $328.0M |
| Depreciation, amortization and accretion | $14.4M | $12.6M | $11.9M | $163.0M |
| (Gain) loss on asset disposals, net | $3.8M | $904.0K | $707.0K | $2.0M |
| (Gain) loss on license sales and exchanges, net | ($409.8M) | ($156.6M) | ($1.3M) | ($4.0M) |
| Total operating expenses | ($345.2M) | ($108.8M) | $100.4M | $881.0M |
| Operating income (loss) | $399.3M | $160.8M | ($53.3M) | $35.0M |
| Equity in earnings of unconsolidated entities | $34.7M | $40.4M | $69.8M | $42.0M |
| Interest and dividend income | $6.4M | $4.2M | $8.9M | $4.0M |
| Interest expense | ($10.9M) | ($7.2M) | ($8.9M) | ($45.0M) |
| Short-term imputed spectrum lease income | $23.8M | $34.2M | $30.4M | — |
| Other, net | ($13.0K) | ($14.0K) | $254.0K | — |
| Total other income | $54.1M | $71.6M | $100.5M | $1.0M |
| Income before income taxes | $453.3M | $232.4M | $47.2M | $36.0M |
| Income tax expense | $115.9M | $52.4M | ($62.7M) | $4.0M |
| Net income from continuing operations | $337.4M | $180.0M | $109.9M | — |
| Less: Net income from continuing operations attributable to noncontrolling interests, net of tax | $3.7M | $193.0K | $1.1M | — |
| Net income from continuing operations attributable to Array shareholders | $333.8M | $179.8M | $108.8M | — |
| Net income from discontinued operations | $25.1M | ($2.0M) | ($130.5M) | — |
| Less: Net income from discontinued operations attributable to noncontrolling interests, net of tax | $188.0K | $0 | $16.8M | — |
| Net income from discontinued operations attributable to Array shareholders | $24.9M | ($2.0M) | ($147.3M) | — |
| Net income | $362.6M | $178.0M | ($20.6M) | $32.0M |
| Less: Net income attributable to noncontrolling interests, net of tax | $3.9M | $193.0K | $17.9M | $1.0M |
| Net income attributable to Array shareholders | $358.7M | $177.8M | ($38.5M) | $31.0M |
| Basic weighted average shares outstanding (in shares) | 86.5M | 86.4M | 86.3M | 86.0M |
| Basic earnings per share from continuing operations attributable to Array shareholders | $3.86 | $2.08 | $1.26 | — |
| Basic earnings per share from discontinued operations attributable to Array shareholders | $0.29 | -$0.02 | -$1.71 | — |
| Basic earnings per share attributable to Array shareholders | $4.15 | $2.06 | -$0.45 | $0.37 |
| Diluted weighted average shares outstanding (in shares) | 86.5M | 86.5M | 86.8M | 88.0M |
| Diluted earnings per share from continuing operations attributable to Array shareholders | $3.86 | $2.08 | $1.25 | — |
| Diluted earnings per share from discontinued operations attributable to Array shareholders | $0.29 | -$0.02 | -$1.69 | — |
| Diluted earnings per share attributable to Array shareholders | $4.15 | $2.06 | -$0.44 | $0.36 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $113.4M | $144.0M | $150.0M | $273.0M |
| Customers and agents, less allowances of $0 and $0, respectively | $1.4M | $905.0M | $900.0M | $985.0M |
| Affiliated | $7.4M | $1.0M | $3.0M | $12.0M |
| Other, less allowances of $3,090 and $1,540, respectively | $14.2M | $49.0M | $54.0M | $83.0M |
| Prepaid expenses | $3.2M | $46.0M | $57.0M | $68.0M |
| Current assets of discontinued operations | $0 | — | — | — |
| Other current assets | $6.5M | $21.0M | $36.0M | $45.0M |
| Total current assets | $144.8M | $1.3B | $1.4B | $1.7B |
| Non-current assets held for sale | $1.6B | — | — | — |
| Non-current assets of discontinued operations | $0 | $0 | $15.0M | $26.0M |
| Licenses | $1.6B | $4.6B | $4.7B | $4.7B |
| Investments in unconsolidated entities | $412.6M | $454.0M | $461.0M | $452.0M |
| Property, plant and equipment, net of accumulated depreciation and amortization of $690,007 and $653,624, respectively | $389.0M | $2.5B | $2.6B | $2.6B |
| Operating lease right-of-use assets | $473.0M | $926.0M | $915.0M | $918.0M |
| Other assets and deferred charges | $24.8M | $643.0M | $690.0M | $686.0M |
| Total assets | $4.7B | $10.4B | $10.8B | $11.1B |
| Current portion of long-term debt | $4.1M | $22.0M | $20.0M | $13.0M |
| Affiliated | $10.5M | $10.0M | $7.0M | — |
| Trade | $27.9M | $232.0M | $241.0M | $344.0M |
| Customer deposits and deferred revenues | $85.9M | $238.0M | $229.0M | $239.0M |
| Accrued taxes | $16.9M | $30.0M | $32.0M | $35.0M |
| Accrued compensation | $4.3M | $93.0M | $83.0M | $84.0M |
| Short-term operating lease liabilities | $15.3M | $141.0M | $135.0M | $133.0M |
| Current liabilities of discontinued operations | $20.2M | — | — | — |
| Other current liabilities | $14.8M | $118.0M | $154.0M | $335.0M |
| Total current liabilities | $200.0M | $884.0M | $901.0M | $1.2B |
| Non-current liabilities of discontinued operations | $0 | — | — | — |
| Deferred income tax liability, net | $387.0M | $728.0M | $755.0M | $708.0M |
| Long-term operating lease liabilities | $509.9M | $822.0M | $831.0M | $843.0M |
| Other deferred liabilities and credits | $336.4M | $570.0M | $565.0M | $604.0M |
| Long-term debt, net | $670.3M | $2.8B | $3.0B | $3.2B |
| Noncontrolling interests with redemption features | $0 | $16.0M | $12.0M | $12.0M |
| Series A Common and Common Shares Authorized 190,000 shares (50,000 Series A Common and 140,000 Common Shares) Issued 88,074 shares (33,006 Series A Common and 53,374 Common Shares) Outstanding 86,380 shares (33,006 Series A Common and 53,374 Common Shares) and 85,094 shares (33,006 Series A Common and 52,088 Common Shares), respectively Par Value ($1.00 per share) ($33,006 Series A Common and $55,068 Common Shares) | $88074000.00 | $88000000.00 | $88000000.00 | $88000000.00 |
| Additional paid-in capital | $1.8B | $1.8B | $1.7B | $1.7B |
| Treasury shares, at cost, 1,694 and 2,980 Common Shares, respectively | -85.6M | -112.0M | -80.0M | -98.0M |
| Retained earnings | $769.8M | $2.8B | $2.9B | $2.9B |
| Total Array shareholders' equity | $2.6B | $4.6B | $4.6B | $4.6B |
| Noncontrolling interests | $6.9M | $15.0M | $16.0M | $16.0M |
| Total equity | $2.6B | $4.6B | $4.6B | $4.6B |
| Total liabilities and equity | $4.7B | $10.4B | $10.8B | $11.1B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $416.4M | $253.6M | $325.6M | $386.0M |
| Affiliated | $3.5M | $1.9M | $9.4M | $1.0M |
| Other, less allowances of $2,847 and $3,090, respectively | $14.4M | $11.5M | $10.3M | $60.0M |
| Prepaid expenses | $2.0M | $3.3M | $3.0M | $53.0M |
| Other current assets | $2.4M | $3.8M | $4.0M | $21.0M |
| Total current assets | $438.7M | $274.1M | $352.2M | $1.5B |
| Non-current assets held for sale | $47.4M | $731.7M | $1.6B | — |
| Licenses | $1.6B | $1.6B | $1.6B | $4.6B |
| Investments in unconsolidated entities | $421.6M | $435.1M | $452.2M | $444.0M |
| Property, plant and equipment, net of accumulated depreciation of $693,165 and $690,007, respectively | $374.7M | $386.7M | $386.8M | $2.3B |
| Operating lease right-of-use assets | $467.6M | $473.4M | $477.7M | $922.0M |
| Other assets and deferred charges | $26.7M | $21.7M | $15.5M | $606.0M |
| Total assets | $3.4B | $4.0B | $4.9B | $10.4B |
| Current portion of long-term debt | $8.1M | $6.1M | $2.0M | $28.0M |
| Accounts payable - Affiliated | $4.6M | $6.4M | $10.7M | $14.0M |
| Accounts payable - Trade | $36.5M | $26.1M | $58.5M | $204.0M |
| Customer deposits and deferred revenues | $27.5M | $45.2M | $122.1M | $225.0M |
| Accrued taxes | $317.4M | $131.7M | $289.8M | $37.0M |
| Accrued compensation | $1.1M | $558.0K | $4.6M | $54.0M |
| Short-term operating lease liabilities | $16.8M | $15.6M | $15.6M | $137.0M |
| Current liabilities of discontinued operations | $24.9M | $20.2M | $20.2M | — |
| Other current liabilities | $24.9M | $13.7M | $15.5M | $109.0M |
| Total current liabilities | $461.7M | $265.6M | $539.0M | $808.0M |
| Deferred income tax liability, net | $169.5M | $320.5M | $320.7M | $719.0M |
| Long-term operating lease liabilities | $505.9M | $511.6M | $513.4M | $825.0M |
| Other deferred liabilities and credits | $295.7M | $333.4M | $336.1M | $576.0M |
| Long-term debt, net | $666.8M | $668.5M | $671.9M | $2.8B |
| Series A Common and Common Shares Authorized 190,000 shares (50,000 Series A Common and 140,000 Common Shares) Issued 88,074 shares (33,006 Series A Common and 55,068 Common Shares) Outstanding 86,479 shares (33,006 Series A Common and 53,473 Common Shares) and 86,380 shares (33,006 Series A Common and 53,374 Common Shares), respectively Par Value ($1.00 per share) ($33,006 Series A Common and $55,068 Common Shares) | $88074000.00 | $88074000.00 | $88074000.00 | $88000000.00 |
| Additional paid-in capital | $1.8B | $1.8B | $1.8B | $1.8B |
| Treasury shares, at cost, 1,595 and 1,694 Common Shares, respectively | -83.3M | -84.1M | 85.6M | -102.0M |
| Retained earnings (accumulated deficit) | ($534.8M) | $59.3M | $732.3M | $2.8B |
| Total Array shareholders' equity | $1.3B | $1.9B | $2.5B | $4.6B |
| Noncontrolling interests | $6.3M | $6.2M | $7.3M | $14.0M |
| Total equity | $1.3B | $1.9B | $2.5B | $4.6B |
| Total liabilities and equity | $3.4B | $4.0B | $4.9B | $10.4B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | $69.2M | ($32.0M) | $58.0M | $35.0M |
| Net income (loss) from discontinued operations | ($103.1M) | — | — | — |
| Net income (loss) from continuing operations | $172.3M | — | — | — |
| Depreciation, amortization and accretion | $48.3M | $665.0M | $656.0M | $700.0M |
| Bad debts expense | $1.7M | $97.0M | $104.0M | $132.0M |
| Stock-based compensation expense | $1.8M | $55.0M | $23.0M | $24.0M |
| Deferred income taxes, net | ($37.7M) | ($27.0M) | $47.0M | $33.0M |
| Equity in earnings of unconsolidated entities | ($173.8M) | ($161.0M) | ($158.0M) | ($158.0M) |
| Distributions from unconsolidated entities | $215.6M | $169.0M | $150.0M | $145.0M |
| Loss on impairment of licenses | $47.7M | $136.0M | $0 | $3.0M |
| (Gain) loss on asset disposals, net | $1.7M | $18.0M | $17.0M | $19.0M |
| (Gain) loss on sale of business and other exit costs, net | ($47.7M) | $0 | $0 | ($1.0M) |
| (Gain) loss on license sales and exchanges, net | ($6.1M) | $3.0M | ($2.0M) | $0 |
| Other operating activities | $1.3M | $5.0M | $6.0M | $9.0M |
| Accounts receivable | ($6.6M) | ($11.0M) | $17.0M | ($59.0M) |
| Accounts payable | ($9.3M) | ($19.0M) | ($85.0M) | $12.0M |
| Customer deposits and deferred revenues | ($65.0M) | $9.0M | ($9.0M) | $47.0M |
| Accrued taxes | ($16.0M) | ($4.0M) | $0 | $121.0M |
| Other assets and liabilities | ($100.7M) | ($4.0M) | $0 | $57.0M |
| Net cash provided by operating activities - continuing operations | $75.1M | — | — | — |
| Net cash provided by operating activities - discontinued operations | $125.7M | — | — | — |
| Net cash provided by operating activities | $200.8M | $883.0M | $866.0M | $832.0M |
| Cash paid for additions to property, plant and equipment | ($27.2M) | ($537.0M) | ($608.0M) | ($602.0M) |
| Cash paid for licenses | ($4.2M) | ($20.0M) | ($130.0M) | ($585.0M) |
| Cash received from divestitures | $5.4M | — | — | $8.0M |
| Other investing activities | $1.3M | $1.0M | $17.0M | $0 |
| Net cash used in investing activities - continuing operations | ($24.6M) | — | — | — |
| Net cash provided by (used in) investing activities - discontinued operations | $2.5B | — | — | — |
| Net cash provided by (used in) investing activities | $2.4B | ($556.0M) | ($721.0M) | ($1.2B) |
| Issuance of long-term debt | $325.0M | $40.0M | $315.0M | $800.0M |
| Repayment of long-term debt | ($875.3M) | ($248.0M) | ($453.0M) | ($329.0M) |
| Repayment of short-term debt | $0 | $0 | ($60.0M) | ($50.0M) |
| Tax withholdings, net of cash receipts, for Array stock-based compensation awards | ($63.4M) | — | — | — |
| Repurchase of Common Shares | -21.4M | -54.0M | 0 | -43.0M |
| Dividends paid to Array shareholders | ($2.0B) | — | — | — |
| Payment of debt issuance costs | ($6.4M) | $0 | ($1.0M) | ($1.0M) |
| Distributions to noncontrolling interests | ($27.6M) | ($5.0M) | ($3.0M) | ($3.0M) |
| Other financing activities | ($8.0M) | ($3.0M) | $0 | ($1.0M) |
| Net cash used in financing activities - continuing operations | ($2.7B) | — | — | — |
| Net cash used in financing activities - discontinued operations | ($20.5M) | — | — | — |
| Net cash used in financing activities | ($2.7B) | ($347.0M) | ($274.0M) | $456.0M |
| Net decrease in cash, cash equivalents and restricted cash | ($45.7M) | ($20.0M) | ($129.0M) | $109.0M |
| Beginning of period | $159.1M | $179.0M | $308.0M | $199.0M |
| End of period | $113.4M | $159.0M | $179.0M | $308.0M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $540.5M | $178.0M | $31.3M | $52.0M |
| Net income from discontinued operations | $23.1M | ($2.0M) | ($99.2M) | — |
| Net income from continuing operations | $517.5M | $180.0M | $130.5M | — |
| Depreciation, amortization and accretion | $27.0M | $12.6M | $35.9M | $325.0M |
| Bad debts expense | $196.0K | ($264.0K) | $1.7M | $43.0M |
| Stock-based compensation expense | $540.0K | $227.0K | $1.6M | $29.0M |
| Deferred income taxes, net | ($203.3M) | ($62.3M) | ($81.1M) | ($9.0M) |
| Equity in earnings of unconsolidated entities | ($75.1M) | ($40.4M) | ($147.5M) | ($78.0M) |
| Distributions from unconsolidated entities | $66.6M | $18.4M | $149.7M | $88.0M |
| (Gain) loss on asset disposals, net | $4.7M | $904.0K | $620.0K | $4.0M |
| (Gain) loss on license sales and exchanges, net | ($566.5M) | ($156.6M) | ($6.1M) | ($5.0M) |
| Other operating activities | $225.0K | ($111.0K) | $338.0K | $3.0M |
| Accounts receivable | $4.4M | $9.5M | ($5.2M) | ($21.0M) |
| Accounts payable | ($3.4M) | ($7.3M) | $22.2M | ($4.0M) |
| Customer deposits and deferred revenues | ($56.7M) | ($33.3M) | ($28.9M) | ($13.0M) |
| Accrued taxes | $288.7M | $112.2M | ($11.7M) | $10.0M |
| Accrued interest | ($390.0K) | $756.0K | $2.4M | $0 |
| Other assets and liabilities | ($17.5M) | ($9.7M) | ($89.6M) | ($35.0M) |
| Net cash used in operating activities - continuing operations | ($13.2M) | $24.5M | $22.5M | — |
| Net cash provided by (used in) operating activities - discontinued operations | ($5.8M) | ($652.0K) | $380.4M | — |
| Net cash provided by (used in) operating activities | ($19.0M) | $23.8M | $402.9M | $485.0M |
| Cash paid for additions to property, plant and equipment | ($19.6M) | ($13.8M) | ($18.6M) | ($147.0M) |
| Cash paid for licenses | $0 | $0 | ($4.2M) | ($4.0M) |
| Cash received from divestitures | $2.2B | $1.0B | $5.4M | — |
| Other investing activities | $0 | — | $1.3M | $1.0M |
| Net cash provided by (used in) investing activities - continuing operations | $2.2B | $1.0B | ($16.0M) | — |
| Net cash used in investing activities - discontinued operations | $0 | $0 | $2.5B | — |
| Net cash provided by (used in) investing activities | $2.2B | $1.0B | $2.4B | ($150.0M) |
| Repayment of long-term debt | $0 | $0 | ($875.3M) | ($12.0M) |
| Tax withholdings, net of cash receipts, for stock-based compensation awards | ($2.1M) | ($1.4M) | ($63.5M) | ($36.0M) |
| Repurchase of Common Shares | 0 | 0 | -21.4M | -21.0M |
| Dividends paid to Array shareholders | ($1.8B) | ($885.5M) | ($2.0B) | — |
| Payment of debt issuance costs | $0 | — | ($5.7M) | — |
| Distributions to noncontrolling interests | ($4.8M) | ($964.0K) | ($26.8M) | ($2.0M) |
| Payments to acquire additional interest in subsidiaries | ($593.0K) | — | — | — |
| Other financing activities | $0 | $0 | ($7.9M) | ($2.0M) |
| Net cash used in financing activities - continuing operations | ($1.8B) | ($887.8M) | ($2.7B) | — |
| Net cash used in financing activities - discontinued operations | $0 | $0 | ($20.5M) | — |
| Net cash used in financing activities | ($1.8B) | ($887.8M) | ($2.7B) | ($93.0M) |
| Net increase in cash, cash equivalents and restricted cash | $303.0M | $140.2M | $166.5M | $242.0M |
| Beginning of period | $113.4M | $113.4M | $159.1M | $159.0M |
| End of period | $416.4M | $253.6M | $325.6M | $401.0M |
Array Digital Infrastructure Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.