ARRAY DIGITAL INFRASTRUCTURE, INC. (AD) Form 10-Q — Aug 7, 2026

$ADForm 10-QFiled Aug 7, 2026, 7:39 AM ET0000821130-26-000046Original filing

Array Digital Infrastructure reported Q2 2026 total operating revenues of $54.1 million, up 90% year over year, with diluted EPS of $4.15 versus $0.37 a year ago. Net income attributable to Array shareholders was $358.7 million, boosted by a $409.8 million gain on the sale of AWS, Cellular and PCS spectrum licenses to Verizon that closed June 1, 2026. The tower business strengthened on the T-Mobile master lease agreement, which added a minimum 2,015 towers on 15-year terms plus roughly 1,800 interim sites.

Key figures

Eps: $4.15 diluted Q2 2026 (vs $0.37 Q2 2025); $6.20 for 1H 2026
Revenue: $54.07 million Q2 2026 total operating revenues ($106.08 million for 1H 2026)
Net Income: $358.70 million attributable to Array shareholders in Q2 2026 (vs $31.50 million Q2 2025); $536.49 million for 1H 2026
Total Debt: $688.93 million total long-term debt obligations at 6.0% weighted-average rate
Revenue Yoy: +90% Q2 2026 vs Q2 2025 (+91% for 1H)
Total Assets: $3,371.36 million at June 30, 2026
Cash Position: $416.44 million at June 30, 2026 (vs $113.40 million at December 31, 2025)
Shares Outstanding: 53.5 million Common Shares plus 33.0 million Series A Common Shares
Colocations: 4362
Towers owned: 4456
Tds ownership: 81.9%
Cobank term loan: $325.0 million at SOFR + 2.50%, maturing June 2030
Tower tenancy rate: 0.98
Accumulated deficit: $534.81 million at June 30, 2026
Capex guidance 2026: $25.0 million to $35.0 million
Tmobile interim sites: up to 1,800 sites for up to 30 months
Adjusted oibda q2 2026: $15.06 million vs -$9.49 million year-ago
Adjusted ebitda q2 2026: $56.20 million, +56% YoY
Att spectrum sale price: $1,018.0 million (3.45 GHz and 700 MHz; closed January 13, 2026)
Unused revolver capacity: $99.9 million of $100.0 million
Special dividend jan 2026: $10.25/share, $885.5 million total, paid February 2, 2026
Special dividend jun 2026: $11.00/share, $951.3 million total, paid June 25, 2026
Tmobile sale consideration: $4,293.8 million total ($2,628.8 million cash + $1,665.0 million debt assumed)
Site rental revenue q2 2026: $53.18 million, +95% YoY
Tmobile mla committed sites: 2015
Verizon spectrum sale price: $1.0 billion (AWS, Cellular, PCS; closed June 1, 2026)
Retained spectrum book value: $1,584.7 million, primarily C-Band
Gain on license sales 1h 2026: $566.47 million
Gain on license sales q2 2026: $409.83 million
Tmobile interim lease revenue: $6.7 million Q2 2026; $14.9 million 1H 2026, declining through January 2028
Q2 2026 spectrum sale proceeds: $1,167.6 million from Verizon and T-Mobile sales
Expected spectrum sale tax liability: ~$250.0 million, mostly payable in Q3 2026
Tmobile purchase price trueup payable: $24.9 million

Price after filing

1 day: +0.1%7 days: +2.2%30 days: +9.4%

Close on the filing date to close N calendar days later (from $35.20). Historical, not a forecast.

AI analysis

Red flags8 · Pro

The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.

Upgrade to Pro · $49/mo billed annually

AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.