ARRAY DIGITAL INFRASTRUCTURE, INC.

Listed Company

ADCIK 0000821130NYSELarge AcceleratedRadiotelephone CommunicationsDelawareNLFY ends Dec 31

Period

FY 2025

Revenue

$162.96M

Net Income

$48.76M

Total Assets

$4.68B

Equity

$2.57B

Shares Out

86.44M

Op. Cash Flow

$200.84M

UZD$18.85−23.11% · past yearDBEQ Basic

Daily closing prices

Business

Array Digital Infrastructure, Inc. (formerly United States Cellular Corporation) owns and operates wireless communications tower infrastructure, leasing space on 4,450 towers across 19 U.S. states to wireless carriers and other tenants. The company generates revenue primarily through long-term master license agreements and individual site lease agreements with major carriers including T-Mobile, AT&T, and Verizon, along with ancillary colocation services. Array also holds noncontrolling interests in wireless operating companies and wireless spectrum licenses, though it divested its legacy wireless operations and select spectrum assets to T-Mobile on August 1, 2025.

Summary from 10-K filed 2026-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total operating revenues	163	103	100	4,169	4,122
Cost of goods and services sold	79	73	68	—	—
Selling, general and administrative	84	103	101	1,408	1,345
Depreciation, amortization and accretion	48	47	50	700	678
Loss on impairment of licenses	48	136	0	3	—
(Gain) loss on asset disposals, net	2	809,000	−4	19	23
(Gain) loss on license sales and exchanges, net	−6	3	−2	0	0
Total operating expenses	255	363	213	4,100	3,952
Operating income (loss)	−93	−260	−112	69	170
Equity in earnings of unconsolidated entities	174	161	158	158	179
Interest and dividend income	19	12	10	8	6
Interest expense	−28	−12	−15	−163	−175
Short-term imputed spectrum lease income	69	0	0	—	—
Other, net	169,000	0	−7,000	—	—
Total other income	234	161	153	3	10
Income (loss) before income taxes	141	−100	41	72	180
Income tax expense (benefit)	−31	−19	33	37	20
Net income (loss) from continuing operations	172	−80	8	—	—
Less: Net income from continuing operations attributable to noncontrolling interests, net of tax	3	5	1	—	—
Net income (loss) from continuing operations attributable to Array shareholders	170	−86	7	—	—
Net income (loss) from discontinued operations	−103	49	50	—	—
Less: Net income from discontinued operations attributable to noncontrolling interests, net of tax	18	2	2	—	—
Net income (loss) from discontinued operations attributable to Array shareholders	−121	46	47	—	—
Net income (loss)	69	−32	58	35	160
Less: Net income attributable to noncontrolling interests, net of tax	20	8	3	5	5
Net income (loss) attributable to Array shareholders	49	−39	54	30	155
Basic weighted average shares outstanding (in shares)	86	86	85	85	86
Basic earnings (loss) per share from continuing operations attributable to Array shareholders	1.98	−1	0.08	—	—
Basic earnings (loss) per share from discontinued operations attributable to Array shareholders	−1.41	0.54	0.56	—	—
Basic earnings (loss) per share attributable to Array shareholders	0.57	−0.46	0.64	0.35	1.8
Diluted weighted average shares outstanding (in shares)	87	86	87	86	87
Diluted earnings (loss) per share from continuing operations attributable to Array shareholders	1.94	−1	0.08	—	—
Diluted earnings (loss) per share from discontinued operations attributable to Array shareholders	−1.38	0.54	0.55	—	—
Diluted earnings (loss) per share attributable to Array shareholders	0.56	−0.46	0.63	0.35	1.77

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	113	144	150	273	156
Other, less allowances of $3,090 and $1,540, respectively	14	11	54	87	63
Prepaid expenses	3	7	57	68	58
Current assets of discontinued operations	0	1,163	—	—	18
Other current assets	7	18	36	45	49
Total current assets	145	1,345	1,400	1,723	1,605
Non-current assets held for sale	1,592	12,000	—	—	—
Non-current assets of discontinued operations	0	4,499	15	26	18
Licenses	1,642	3,282	4,693	4,690	4,088
Investments in unconsolidated entities	413	454	461	452	439
Property, plant and equipment, net of accumulated depreciation and amortization of $690,007 and $653,624, respectively	389	384	2,576	2,624	2,606
Operating lease right-of-use assets	473	465	915	918	959
Other assets and deferred charges	25	20	690	686	626
Total assets	4,678	10,449	10,750	11,119	10,341
Current portion of long-term debt	4	22	20	13	3
Trade	28	27	241	344	346
Customer deposits and deferred revenues	86	2	229	239	191
Accrued taxes	17	27	32	35	33
Accrued compensation	4	89	83	84	83
Short-term operating lease liabilities	15	16	135	133	129
Current liabilities of discontinued operations	20	672	—	—	—
Other current liabilities	15	19	154	335	104
Total current liabilities	200	884	901	1,195	903
Non-current liabilities of discontinued operations	0	2,311	—	—	0
Deferred income tax liability, net	387	728	755	708	674
Long-term operating lease liabilities	510	496	831	843	889
Other deferred liabilities and credits	336	221	565	604	573
Long-term debt, net	670	1,202	3,044	3,187	2,728
Commitments and contingencies	—	—	—	—	—
Noncontrolling interests with redemption features	0	16	12	12	11
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)	88	88	88	88	88
Additional paid-in capital	1,795	1,782	1,726	1,703	1,678
Treasury shares, at cost, 1,694 and 2,980 Common Shares, respectively	−86	−112	−80	−98	−68
Retained earnings	770	2,818	2,892	2,861	2,849
Total Array shareholders' equity	2,568	4,577	4,626	4,554	4,547
Noncontrolling interests	7	15	16	16	16
Total equity	2,575	4,592	4,642	4,570	4,563
Total liabilities and equity	4,678	10,449	10,750	11,119	10,341

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Bad debts expense	2	−2	1	132	56
Stock-based compensation expense	2	3	1	24	27
Deferred income taxes, net	−38	−17	33	33	41
Distributions from unconsolidated entities	216	169	150	145	176
Loss on impairment of licenses	48	136	0	3	—
(Gain) loss on sale of business and other exit costs, net	−48	—	—	—	—
Other operating activities	1	121,000	113,000	9	33
Accounts receivable	−7	5	−2	−59	−27
Accounts payable	−9	−35	−18	12	−57
Customer deposits and deferred revenues	−65	−352,000	−442,000	47	40
Accrued taxes	−16	−39	−8	121	−41
Other assets and liabilities	−101	9	−1	57	17
Net cash provided by operating activities - continuing operations	75	38	49	—	—
Net cash provided by operating activities - discontinued operations	126	844	818	—	—
Net cash provided by operating activities	201	882	867	832	802
Cash paid for additions to property, plant and equipment	−27	−18	−41	−602	−724
Cash paid for licenses	−4	−19	−129	−585	−1,302
Cash received from divestitures	5	0	1	8	3
Other investing activities	1	0	15	8	10
Net cash used in investing activities - continuing operations	−25	−38	−153	—	—
Net cash provided by (used in) investing activities - discontinued operations	2,462	−519	−568	—	—
Net cash provided by (used in) investing activities	2,438	−556	−721	−1,179	−2,036
Issuance of long-term debt	325	40	315	800	1,342
Repayment of long-term debt	−875	−248	−453	−329	−1,118
Repayment of short-term debt	0	0	−60	−50	0
Tax withholdings, net of cash receipts, for Array stock-based compensation awards	−63	−11	−6	−5	—
Repurchase of Common Shares	−21	−54	0	−43	−31
Dividends paid to Array shareholders	−1,987	0	0	—	—
Payment of debt issuance costs	−6	0	−2	−1	−22
Distributions to noncontrolling interests	−28	−5	−3	−3	−3
Other financing activities	−8	−2	−412,000	−1	−1
Net cash used in financing activities - continuing operations	−2,664	−280	−209	—	—
Net cash used in financing activities - discontinued operations	−21	−67	−66	—	—
Net cash used in financing activities	−2,684	−347	−274	456	142
Net decrease in cash, cash equivalents and restricted cash	−46	−21	−128	109	−1,092

Filings

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Frequently asked questions

What is ARRAY DIGITAL INFRASTRUCTURE, INC.'s CIK number?

ARRAY DIGITAL INFRASTRUCTURE, INC.'s SEC CIK number is 0000821130 (821130). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find ARRAY DIGITAL INFRASTRUCTURE, INC.'s SEC filings?

All of ARRAY DIGITAL INFRASTRUCTURE, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did ARRAY DIGITAL INFRASTRUCTURE, INC. last report earnings?

ARRAY DIGITAL INFRASTRUCTURE, INC. (AD) most recently filed an earnings 8-K with the SEC on May 8, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000821130-26-000034). This is ARRAY DIGITAL INFRASTRUCTURE, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is ARRAY DIGITAL INFRASTRUCTURE, INC.'s most recent earnings 8-K?

ARRAY DIGITAL INFRASTRUCTURE, INC.'s latest earnings 8-K (Item 2.02) was filed May 8, 2026 under accession 0000821130-26-000034. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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