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MKT CAP:$4B

Array Digital Infrastructure, Inc.

Market Cap

$4B

Communication Services·Telecommunications Services·🇺🇸 United States·NYSE

Communication·Telecommunications·🇺🇸·NYSE

Stock Price

$48.84-$5.16 (-9.55%)

Apr 24, 2026

Company Details

Array Digital Infrastructure, Inc. provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides wireless devices, such as handsets,...

CEO

Anthony J. Carlson

IPO Date

Aug 23, 2007

Website

www.arrayinc.com

Key Metrics TTM

Revenue

$3.8B

-2.8% YoY

Net Income

-$42M

EPS (Diluted)

-$0.50

Free Cash Flow

$158M

Revenue / Share

$43.67

Gross Margin

55.7%

Operating Margin

-0.7%

Net Margin

-1.1%

FCF Margin

4.1%

P/S

1.1x

P/E

—

Earnings Reports

Q1 2025

May 1, 2026

PENDING

Q4 2024

Dec 31, 2024

$971M-2.9%EPS $0.06

Q3 2024

Sep 30, 2024

$922M-4.3%EPS -$0.92

Q1 2024

Mar 31, 2024

$950M-3.7%EPS $0.20

Q4 2023

Dec 31, 2023

$1.0B-4.7%EPS $0.16

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 20	$1.1B	$552M	$5M
Q1 21	$1.0B	$563M	$84M
Q2 21	$1.0B	$552M	$36M
Q3 21	$1.0B	$559M	$45M
Q4 21	$1.1B	$541M	$5M
Q1 22	$1.0B	$568M	$71M
Q2 22	$1.0B	$560M	$40M
Q3 22	$1.1B	$532M	-$15M
Q4 22	$1.0B	$539M	-$27M
Q1 23	$986M	$551M	$26M
Q2 23	$957M	$539M	$34M
Q3 23	$963M	$550M	$57M
Q4 23	$1.0B	$537M	$22M
Q1 24	$950M	$552M	$51M
Q3 24	$922M	$539M	-$90M
Q4 24	$971M	$513M	-$9M

Valuation

Quarter	P/S	P/E
Q4 20	0.6x	11.4x
Q1 21	0.8x	14.2x
Q2 21	0.8x	17.6x
Q3 21	0.7x	21.0x
Q4 21	0.7x	17.6x
Q1 22	0.6x	18.0x
Q2 22	0.6x	19.8x
Q3 22	0.5x	26.5x
Q4 22	0.5x	66.1x
Q1 23	0.5x	—
Q2 23	0.4x	—
Q3 23	0.9x	272.2x
Q4 23	0.9x	66.8x
Q1 24	0.8x	51.4x
Q3 24	1.2x	—
Q4 24	1.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 20	$287M	-$12M
Q1 21	$124M	-$9M
Q2 21	$239M	$91M
Q3 21	$304M	$129M
Q4 21	$135M	-$133M
Q1 22	$311M	$161M
Q2 22	$267M	$129M
Q3 22	$74M	-$47M
Q4 22	$180M	-$13M
Q1 23	$41M	-$155M
Q2 23	$349M	$194M
Q3 23	$329M	$226M
Q4 23	$147M	-$7M
Q1 24	$203M	$70M
Q3 24	$245M	$114M
Q4 24	$122M	-$19M

Capital Expenditures

Quarter	CapEx
Q4 20	$299M
Q1 21	$133M
Q2 21	$148M
Q3 21	$175M
Q4 21	$268M
Q1 22	$150M
Q2 22	$138M
Q3 22	$121M
Q4 22	$193M
Q1 23	$196M
Q2 23	$155M
Q3 23	$103M
Q4 23	$154M
Q1 24	$133M
Q3 24	$131M
Q4 24	$141M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 20	+2.0%	+1.2%
Q1 21	+6.2%	+2.8%
Q2 21	+4.2%	+6.3%
Q3 21	-1.1%	+0.9%
Q4 21	-0.4%	-0.4%
Q1 22	-1.3%	+0.0%
Q2 22	+1.3%	+0.9%
Q3 22	+6.6%	+13.1%
Q4 22	-1.9%	+1.1%
Q1 23	-2.4%	+2.2%
Q2 23	-6.8%	-6.5%
Q3 23	-11.1%	-17.5%
Q4 23	-4.7%	-9.1%
Q1 24	-3.7%	-6.4%
Q3 24	-3.7%	+9.6%
Q4 24	+0.8%	+8.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 20	$7M	0.7%
Q1 21	$6M	0.6%
Q2 21	$6M	0.6%
Q3 21	$8M	0.8%
Q4 21	$7M	0.7%
Q1 22	$7M	0.7%
Q2 22	$7M	0.7%
Q3 22	$4M	0.4%
Q4 22	$6M	0.6%
Q1 23	$13M	1.3%
Q2 23	-$7M	-0.7%
Q3 23	$8M	0.8%
Q4 23	$9M	0.9%
Q1 24	$13M	1.4%
Q3 24	$12M	1.3%
Q4 24	$18M	1.9%

OpEx Breakdown

Quarter	SG&A
Q4 20	$374M
Q1 21	$305M
Q2 21	$334M
Q3 21	$346M
Q4 21	$361M
Q1 22	$325M
Q2 22	$339M
Q3 22	$369M
Q4 22	$376M
Q1 23	$345M
Q2 23	$341M
Q3 23	$333M
Q4 23	$348M
Q1 24	$331M
Q3 24	$324M
Q4 24	$353M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$300M	$0	$300M
Q2 22	$320M	$0	$320M
Q3 22	$254M	$0	$254M
Q4 22	$273M	$0	$273M
Q1 23	$154M	$0	$154M
Q2 23	$186M	$0	$186M
Q3 23	$153M	$0	$153M
Q4 23	$150M	$0	$150M
Q1 24	$185M	$0	$185M
Q2 24	$195M	$0	$195M
Q3 24	$272M	$0	$272M
Q4 24	$144M	$0	$144M
Q1 25	$182M	$0	$182M
Q2 25	$386M	$0	$386M
Q3 25	$326M	$0	$326M
Q4 25	$113M	$0	$113M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 20	88M	0.0%	0.0%
Q1 21	88M	0.0%	0.0%
Q2 21	88M	0.0%	+1.1%
Q3 21	87M	-1.1%	-1.1%
Q4 21	87M	0.0%	-1.1%
Q1 22	87M	0.0%	-1.1%
Q2 22	87M	0.0%	-1.1%
Q3 22	85M	-2.3%	-2.3%
Q4 22	85M	0.0%	-2.3%
Q1 23	86M	+1.2%	-1.1%
Q2 23	86M	0.0%	-1.1%
Q3 23	86M	0.0%	+1.2%
Q4 23	88M	+2.3%	+3.5%
Q1 24	88M	0.0%	+2.3%
Q3 24	86M	-2.3%	0.0%
Q4 24	88M	+2.3%	+2.3%

Shares Outstanding