ARRAY DIGITAL INFRASTRUCTURE, INC.

For the period ended Dec 31, 2025. Filed Feb 20, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 20, 2026

AD$29.98-4.4%Stored close · as of Nov 6, 2026

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Contents

Consolidated Statement of Operations

Array Digital Infrastructure, Inc.
Consolidated Statement of Operations
Year Ended December 31,	2025	2024	2023
(Dollars and shares in thousands, except per share amounts)
Operating revenues
Site rental	$154,654	$102,610	$100,382
Services	8,307	323	87
Total operating revenues	162,961	102,933	100,469
Operating expenses
Cost of operations (excluding Depreciation, amortization and accretion reported below)	79,485	72,997	67,890
Selling, general and administrative	84,444	102,556	101,407
Depreciation, amortization and accretion	48,262	47,212	49,984
Loss on impairment of licenses	47,679	136,234	—
(Gain) loss on asset disposals, net	1,746	809	(4,417)
(Gain) loss on license sales and exchanges, net	(6,123)	3,460	(2,170)
Total operating expenses	255,493	363,268	212,694
Operating income (loss)	(92,532)	(260,335)	(112,225)
Other income (expense)
Equity in earnings of unconsolidated entities	173,754	161,364	158,296
Interest and dividend income	18,917	11,656	9,774
Interest expense	(28,222)	(12,405)	(14,606)
Short-term imputed spectrum lease income	69,033	—	—
Other, net	169	—	(7)
Total other income	233,651	160,615	153,457
Income (loss) before income taxes	141,119	(99,720)	41,232
Income tax expense (benefit)	(31,148)	(19,256)	32,855
Net income (loss) from continuing operations	172,267	(80,464)	8,377
Less: Net income from continuing operations attributable to noncontrolling interests, net of tax	2,615	5,411	1,306
Net income (loss) from continuing operations attributable to Array shareholders	169,652	(85,875)	7,071
Net income (loss) from discontinued operations	(103,074)	48,886	49,540
Less: Net income from discontinued operations attributable to noncontrolling interests, net of tax	17,822	2,414	2,152
Net income (loss) from discontinued operations attributable to Array shareholders	(120,896)	46,472	47,388
Net income (loss)	69,193	(31,578)	57,917
Less: Net income attributable to noncontrolling interests, net of tax	20,437	7,825	3,458
Net income (loss) attributable to Array shareholders	$48,756	$(39,403)	$54,459

Array Digital Infrastructure, Inc.
Consolidated Statement of Operations
Year Ended December 31,	2025	2024	2023
(Dollars and shares in thousands, except per share amounts)
Basic weighted average shares outstanding	85,908	85,633	85,185
Basic earnings (loss) per share from continuing operations attributable to Array shareholders	$1.98	$(1.00)	$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
Diluted weighted average shares outstanding	87,293	85,633	86,732
Diluted earnings (loss) per share from continuing operations attributable to Array shareholders	$1.94	$(1.00)	$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

ContentsView on SEC.gov

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