Company: UZF
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000821130-25-000070
Chunk: 3

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 2
Chunk 3
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 Financial Statements for additional information.

The strategic alternatives review process is ongoing as Array works toward closing the Verizon, AT&T and T-Mobile spectrum transactions signed during 2024 and 2025, and seeks to opportunistically monetize its remaining spectrum assets that are not subject to executed agreements.

Array incurred third-party expenses related to the announced transactions and strategic alternatives review of $0.5 million and $2.3 million for the three and nine months ended September 30, 2025, respectively, and $1.3 million and $19.9 million for the three and nine months ended September 30, 2024, respectively, which are included in Selling, general and administrative (SG&A) expenses for continuing operations. 

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Terms Used by Array

The following is a list of definitions of certain industry terms that are used throughout this document: 

▪Colocations – represents instances where a third-party leases space on a company-owned tower.

▪Adjusted EBITDA – non-GAAP metric referring to earnings before interest, taxes, depreciation, amortization and accretion, gains and losses and other nonrecurring expenses. See Supplemental Information Relating to Non-GAAP Financial Measures within this MD&A for additional information.

▪Adjusted OIBDA – non-GAAP measure referring to operating income before depreciation, amortization and accretion, gains and losses and other nonrecurring expenses. See Supplemental Information Relating to Non-GAAP Financial Measures within this MD&A for additional information.

▪Tower Tenancy Rate – calculated as total number of colocations divided by total number of towers.

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Array Operations

OPERATIONS

As of September 30, 2025Owned towers4,449Number of colocations14,517Tower tenancy rate11.02 

1    Excludes Interim Sites whereby T-Mobile is leasing up to 1,800 sites for a period of up to 30 months subject to the terms and conditions of the MLA.

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Financial Overview — Array

The following discussion and analysis compares financial results for the three and nine months ended September 30, 2025, to the three and nine months ended September 30, 2024.

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,202520242025 vs. 2024202520242025 vs. 2024(Dollars in thousands)   Operating revenuesSite rental$45,838 $25,669 79 %$99,663