ARRAY DIGITAL INFRASTRUCTURE, INC.
ARRAY DIGITAL INFRASTRUCTURE, INC.
Insider Sentiment (TTM):
Last Purchase:-Last Sale:2025-08-18Shares Purchased (TTM):0Shares Sold (TTM):95,260
Institutional Sentiment:
As of:2026-03-31Institutional Shares Owned:19,147,763Shares Outstanding:86,416,000Institutional Ownership Pct.:22.16%
Earnings Market Reaction:
Filing Date:2026-05-08Price on Filing Date:N/APrevious Close:N/A% Change:N/A
ARRAY DIGITAL INFRASTRUCTURE, INC. (AD) — SEC Financial Statements & Analysis
ARRAY DIGITAL INFRASTRUCTURE, INC. (AD) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | |||||||||||||||||
Assets Current | |||||||||||||||||
Cash And Cash Equivalents At Carrying Value | 254 | 113 | 326 | 386 | 182 | 144 | 272 | 195 | 185 | 150 | 153 | 186 | |||||
Other Receivables | 11 | 14 | 10 | 60 | 55 | 11 | 46 | 61 | 53 | 54 | 67 | 65 | |||||
Inventory Net | - | - | - | 126 | 178 | 179 | 161 | 143 | 175 | 199 | 175 | 210 | |||||
Prepaid Expense Current | 3 | 3 | 3 | 53 | 63 | 7 | 55 | 58 | 71 | 57 | 64 | 69 | |||||
Income Taxes Receivable | - | - | - | 1 | - | 0 | 0 | 0 | 0 | 1 | 2 | 4 | |||||
Income Tax Receivable | - | - | 0 | - | - | - | - | - | - | - | - | - | |||||
Assets Of Disposal Group Including Discontinued Op… | - | 0 | 0 | - | - | 1,163 | - | - | - | - | - | - | |||||
Other Assets Current | 4 | 7 | 4 | 21 | 25 | 18 | 21 | 26 | 32 | 36 | 40 | 47 | |||||
Assets Current | 274 | 145 | 352 | 1,509 | 1,373 | 1,345 | 1,427 | 1,374 | 1,395 | 1,400 | 1,393 | 1,500 | |||||
Assets Held For Sale Not Part Of Disposal Group | 732 | 1,592 | 1,585 | - | - | 0 | - | - | - | - | - | - | |||||
Disposal Group Including Discontinued Operation As… | - | - | 0 | - | - | - | - | - | - | - | - | - | |||||
Assets Of Disposal Group Including Discontinued Op… | - | 0 | - | - | 1 | 4,499 | 0 | 0 | 0 | 15 | 16 | 16 | |||||
Indefinite Lived License Agreements | 1,642 | 1,642 | 1,649 | 4,583 | 4,581 | 3,282 | 4,576 | 4,715 | 4,711 | 4,693 | 4,690 | 4,694 | |||||
Investments In Affiliates Subsidiaries Associates … | 435 | 413 | 452 | 444 | 479 | 454 | 478 | 461 | 482 | 461 | 477 | 457 | |||||
Property Plant And Equipment Gross | - | 1,079 | 1,071 | 8,477 | 8,417 | 1,038 | 8,402 | 8,294 | 8,321 | 9,560 | 9,571 | 9,491 | |||||
Property Plant And Equipm… | |||||||||||||||||
Property Plant And Equipment Net | 387 | 389 | 387 | 2,313 | 2,394 | 384 | 2,504 | 2,540 | 2,540 | 2,576 | 2,593 | 2,640 | |||||
Operating Lease Right Of Use Asset | 473 | 473 | 478 | 922 | 925 | 465 | 912 | 906 | 910 | 915 | 914 | 912 | |||||
Other Assets Noncurrent | 22 | 25 | 15 | 606 | 612 | 20 | 619 | 643 | 666 | 690 | 666 | 670 | |||||
Assets | 3,965 | 4,678 | 4,918 | 10,377 | 10,365 | 10,449 | 10,516 | 10,639 | 10,704 | 10,750 | 10,749 | 10,889 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Liabilities Current | |||||||||||||||||
Long Term Debt And Capital Lease Obligations Curre… | 6 | 4 | 2 | 28 | 26 | 22 | 20 | 20 | 20 | 20 | 18 | 54 | |||||
Accounts Payable Current | |||||||||||||||||
Accounts Payable Trade Current | 26 | 28 | 58 | 204 | 198 | 27 | 266 | 261 | 224 | 241 | 406 | 240 | |||||
Contract With Customer Liability Current | 45 | 86 | 122 | 225 | 231 | 2 | 225 | 236 | 235 | 229 | 222 | 231 | |||||
Taxes Payable Current | 132 | 17 | 290 | 37 | 57 | 27 | 63 | 41 | 49 | 32 | 35 | 32 | |||||
Employee Related Liabilities Current | 1 | 4 | 5 | 54 | 33 | 89 | 66 | 57 | 32 | 83 | 61 | 54 | |||||
Operating Lease Liability Current | 16 | 15 | 16 | 137 | 140 | 16 | 139 | 134 | 134 | 135 | 135 | 134 | |||||
Liabilities Of Disposal Group Including Discontinu… | 20 | 20 | 20 | - | - | 672 | - | - | - | - | - | - | |||||
Other Liabilities Current | 14 | 15 | 15 | 109 | 113 | 19 | 124 | 130 | 138 | 154 | 148 | 254 | |||||
Liabilities Current | 266 | 200 | 539 | 808 | 807 | 884 | 909 | 886 | 837 | 901 | 1,031 | 1,008 | |||||
Liabilities Of Disposal Group Including Discontinu… | - | 0 | 0 | - | - | 2,311 | - | - | - | - | - | - | |||||
Liabilities Noncurrent | |||||||||||||||||
Deferred Income Tax Liabilities Net | 321 | 387 | 321 | 719 | 720 | 728 | 719 | 765 | 758 | 755 | 749 | 732 | |||||
Operating Lease Liability Noncurrent | 512 | 510 | 513 | 825 | 824 | 496 | 813 | 822 | 827 | 831 | 834 | 836 | |||||
Other Liabilities Noncurrent | 333 | 336 | 336 | 576 | 570 | 221 | 579 | 573 | 564 | 565 | 601 | 607 | |||||
Long Term Debt And Capital Lease Obligations | 668 | 670 | 672 | 2,819 | 2,829 | 1,202 | 2,882 | 2,887 | 3,029 | 3,044 | 2,903 | 3,105 | |||||
Redeemable Noncontrolling Interest Equity Other Ca… | - | 0 | 0 | 16 | 16 | 16 | 16 | 16 | 16 | 12 | 12 | 12 | |||||
Stockholders Equity Inclu… | |||||||||||||||||
Common Stock Value | 88 | 88 | 88 | 88 | 88 | 88 | 88 | 88 | 88 | 88 | 88 | 88 | |||||
Additional Paid In Capital | 1,796 | 1,795 | 1,795 | 1,812 | 1,800 | 1,782 | 1,764 | 1,752 | 1,740 | 1,726 | 1,717 | 1,710 | |||||
Treasury Stock Value | -84 | -86 | 86 | -102 | -125 | -112 | -83 | -58 | -80 | -80 | -80 | -80 | |||||
Retained Earnings Accumulated Deficit | 59 | 770 | 732 | 2,802 | 2,822 | 2,818 | 2,813 | 2,893 | 2,910 | 2,892 | 2,878 | 2,855 | |||||
Stockholders Equity | 1,865 | 2,568 | 2,537 | 4,600 | 4,585 | 4,577 | 4,598 | 4,675 | 4,673 | 4,626 | 4,603 | 4,589 | |||||
Minority Interest | 6 | 7 | 7 | 14 | 14 | 15 | 16 | 15 | 15 | 16 | 16 | 16 | |||||
Liabilities And Stockholders Equity | 3,965 | 4,678 | 4,918 | 10,377 | 10,365 | 10,449 | 10,516 | 10,639 | 10,704 | 10,750 | 10,749 | 10,889 | |||||
Variable Interest Entity Primary Beneficiary | 43 | 45 | -832 | -174 | 1,050 | 193 | -39 | -59 | 1,145 | 1,217 | -143 | -112 | |||||
Common Class A | 33 | 33 | 0 | 0 | 33 | 50 | 0 | 0 | 33 | 50 | -0 | 0 | |||||
Common Class B | 53 | 53 | 0 | 1 | 52 | 140 | 0 | 1 | 52 | 140 | -0 | 1 | |||||
Assets Held | 43 | 45 | -832 | -174 | 1,050 | 193 | -39 | -59 | 1,145 | 1,217 | -143 | -112 | |||||
Nonrecourse | 11 | 11 | -17 | 2 | 26 | 25 | -2 | 1 | 25 | 26 | -1 | -2 | |||||
Allowance For Doubtful Accounts Receivable Current | - | - | - | 55 | 58 | 63 | 59 | 61 | 62 | 66 | 62 | 66 | |||||
Related Party | 2 | 7 | 8 | -6 | 7 | 1 | 1 | -2 | 2 | 3 | -3 | 9 | |||||
Receivables Net Current | |||||||||||||||||
Accounts Receivable Net Current | - | - | - | 861 | 863 | 905 | 871 | 891 | 877 | 900 | 890 | 917 | |||||
Allowance For Doubtful Other Receivables Current | 2 | 3 | 3 | 2 | 2 | 2 | 2 | 2 | 3 | 4 | 3 | 3 | |||||
Accumulated Depreciation Depletion And Amortizatio… | 698 | 690 | 684 | 6,164 | 6,023 | 654 | 5,898 | 5,754 | 5,781 | 6,984 | 6,978 | 6,851 | |||||
Stockholders Equity | |||||||||||||||||
Common Stock Shares Authorized | 190 | 190 | 190 | 190 | 190 | 190 | 190 | 190 | 190 | 190 | 190 | 190 | |||||
Common Stock Shares Issued | 88 | 88 | 88 | 88 | 88 | 88 | 88 | 88 | 88 | 88 | 88 | 88 | |||||
Shares Outstanding | 86 | 86 | 86 | 86 | 85 | 85 | 86 | 86 | 85 | 85 | 85 | 85 | |||||
Variable Interest Entitie… | |||||||||||||||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -8.80% | -15.85% | - | - | - | - | - | - | - | - | - | - |
| 2025 | -3.16% | -4.68% | 8.61% | -2.17% | -5.59% | -8.54% | 6.08% | 15.49% | 24.54% | -2.15% | 0.35% | 13.19% |
| 2024 | 26.04% | 55.34% | 67.45% | 7.57% | 7.05% | 22.23% | 13.05% | 7.97% | 11.41% | -0.06% | 0.70% | -3.49% |
| 2023 | - | - | - | 16.77% | 20.50% | 23.49% | -1.07% | -11.88% | -3.00% | 2.58% | 2.96% | -1.10% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 1.03 | 0.72 | 0.65 | 1.87 | 1.70 | 1.52 | 1.57 | 1.55 | 1.67 | 1.55 | 1.35 | 1.49 | |||||
| Quick Ratio | 1.02 | 0.71 | 0.65 | 1.65 | 1.40 | 1.31 | 1.33 | 1.32 | 1.37 | 1.27 | 1.12 | 1.21 | |||||
| Working Capital | 8.46M | -55.20M | -186.79M | 701.00M | 566.00M | 461.10M | 518.00M | 488.00M | 558.00M | 499.00M | 362.00M | 492.00M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 0.14 | 0.08 | 0.21 | 0.18 | 0.18 | 0.19 | 0.20 | 0.19 | 0.18 | 0.19 | 0.22 | 0.22 | |||||
| Interest Coverage TTM | 1.08 | -1.07 | -1.71 | -2.58 | -2.57 | -1.51 | -0.36 | 0.89 | 0.85 | 0.71 | 0.46 | 0.10 | |||||
| Debt Ratio | 0.07 | 0.04 | 0.11 | 0.08 | 0.08 | 0.08 | 0.09 | 0.08 | 0.08 | 0.08 | 0.10 | 0.09 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.03 | 0.02 | -0.10 | -0.08 | -0.08 | 0.01 | 0.27 | 0.36 | 0.36 | 0.36 | 0.36 | 0.37 | |||||
| Days Sales Outstanding TTM | - | - | - | -384.73 | -387.22 | 3,200.26 | 110.72 | 85.93 | 85.69 | 88.07 | 86.61 | 84.42 | |||||
| Receivables Turnover TTM | - | - | - | -0.95 | -0.94 | 0.11 | 3.30 | 4.25 | 4.26 | 4.14 | 4.21 | 4.32 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 2.63 | 0.79 | 0.28 | -0.18 | -0.34 | -0.37 | -0.37 | 0.80 | 0.66 | 0.62 | 0.12 | -0.29 | |||||
| Free Cash Flow Per Share TTM | -2.60 | -0.97 | 2.82 | 5.15 | 5.08 | 4.10 | 2.65 | 5.41 | 5.68 | 3.04 | 2.96 | -0.25 | |||||
| Dividend Per Share TTM | 0.31 | 0.32 | 0.32 | 0.04 | 0.05 | 0.06 | 0.06 | 0.05 | 0.05 | 0.04 | 0.02 | 0.04 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 54.89% | 51.22% | 89.26% | 89.21% | 88.69% | 29.08% | 80.60% | 80.99% | 80.88% | 81.05% | 81.34% | 81.60% | |||||
| Operating Profit Margin TTM | 52.07% | -56.78% | 29.04% | 41.15% | 41.58% | -252.92% | -1.76% | 4.32% | 4.24% | 3.56% | 2.28% | 0.44% | |||||
| Net Profit Margin TTM | 121.02% | 42.46% | -2.97% | 1.91% | 3.65% | -30.68% | -1.08% | 1.82% | 1.50% | 1.38% | 0.25% | -0.61% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | -122.92% | 58.32% | -127.89% | -121.64% | -121.19% | -97.36% | -26.61% | -5.77% | -6.63% | -6.31% | -5.59% | -1.14% | |||||
| Net Income Growth (1Y) | -861.03% | -319.12% | -176.55% | -122.70% | -151.54% | -158.48% | -413.81% | -380.00% | -825.00% | 80.00% | -89.25% | -117.99% | |||||
| EPS Growth (1Y) | -849.77% | -318.42% | -176.18% | -122.70% | -151.46% | -158.05% | -410.77% | -376.74% | -825.00% | 80.00% | -89.25% | -118.20% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 13.84 | 43.64 | 117.71 | -158.25 | -90.04 | -77.76 | -68.34 | 31.35 | 24.45 | 29.89 | 166.98 | -27.40 | |||||
| P/B | 1.69 | 1.17 | 1.11 | 0.55 | 0.59 | 0.53 | 0.47 | 0.47 | 0.30 | 0.35 | 0.36 | 0.15 | |||||
| P/S TTM | 16.75 | 18.53 | -3.49 | -3.03 | -3.28 | 23.85 | 0.74 | 0.57 | 0.37 | 0.41 | 0.42 | 0.17 | |||||
| Market Cap | 3.15B | 3.02B | 2.83B | 2.52B | 2.69B | 2.46B | 2.14B | 2.19B | 1.42B | 1.61B | 1.67B | 685.09M | |||||
| Enterprise Value | 3.57B | 3.58B | 3.18B | 4.96B | 5.35B | 3.52B | 4.76B | 4.89B | 4.26B | 4.50B | 4.41B | 3.62B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | -224.93M | -83.17M | 243.38M | 442.74M | 432.50M | 350.74M | 227.85M | 465.00M | 483.00M | 258.00M | 252.00M | -21.00M | |||||
| Net Debt | 420.96M | 560.92M | 348.31M | 2.45B | 2.65B | 1.06B | 2.61B | 2.69B | 2.84B | 2.89B | 2.74B | 2.94B | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
| Cash Flow Per Share TTM | |||||||||||||||||
| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
| Altman D | |||||||||||||||||
| Altman E | |||||||||||||||||
| Altman Z-Score | |||||||||||||||||
| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
| Payout Ratio TTM | |||||||||||||||||
| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
| Free Cash Flow Yield TTM | |||||||||||||||||
| EV EBITDA TTM | |||||||||||||||||
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| Stock Compensation TTM | |||||||||||||||||
| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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Insider Transactions
2025-08-18Sale
Owner: Harczak, Harry J Jr
Title: -
Shares: 1,960
Price/Share: $76.20
Value: $149,352.00
Shares Owned: 19,374
Relationship: Director
Ownership: Direct
2025-08-12Sale
Owner: Chambers, Douglas W
Title: Interim President and CEO
Shares: 93,300
Price/Share: $75.77
Value: $7,069,341.00
Shares Owned: 17,600
Relationship: Director,Officer
Ownership: Direct
2024-08-05Sale
Owner: Lowell, Kevin R
Title: EVP, Chief People Officer
Shares: 37,597
Price/Share: $49.34
Value: $1,855,035.98
Shares Owned: -
Relationship: Officer
Ownership: Direct
2023-04-10Sale
Owner: Irizarry, Michael
Title: EVP-CTO
Shares: 18,826
Price/Share: $22.15
Value: $416,995.90
Shares Owned: 18,825
Relationship: Officer
Ownership: Direct
2022-12-09Sale
Owner: Josefowicz, Gregory P
Title: -
Shares: 1,834
Price/Share: $19.61
Value: $35,964.74
Shares Owned: 18,981
Relationship: Director
Ownership: Direct
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Institutional Ownership
No data available for chart
2026-03-31
22.16%
Inst. Shares: 19,147,763
Shares Outstanding: 86,416,000
2025-12-31
20.16%
Inst. Shares: 17,318,630
Shares Outstanding: 85,908,000
2025-09-30
19.50%
Inst. Shares: 16,817,017
Shares Outstanding: 86,251,000
2025-06-30
17.03%
Inst. Shares: 14,646,021
Shares Outstanding: 86,000,000
2025-03-31
15.34%
Inst. Shares: 13,057,952
Shares Outstanding: 85,137,000