Company: UZF
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000821130-25-000051
Chunk: 11

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 2
Chunk 11
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 by an increase in maintenance, utilities, and cell site expenses.

9

Cost of equipment sold

Cost of equipment sold decreased for the six months ended June 30, 2025, due primarily to a decline in smartphone devices sold partially offset by a higher average cost per unit sold. 

(Gain) loss on license sales and exchanges, net

(Gain) loss on license sales and exchanges increased for the three and six months ended June 30, 2025, due to the write-off of the liability associated with the Put/Call Agreement with T-Mobile in 2025.

10

Towers Operations

As of June 30,202520242025 vs. 2024Owned towers4,4184,3881 %Number of colocations2,5272,3926 %Tower tenancy rate1.57 1.55 2 %

Financial Overview — Towers 

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

Three Months EndedJune 30,Six Months EndedJune 30,202520242025 vs. 2024202520242025 vs. 2024(Dollars in millions)   Third-party revenues$28 $25 12 %$56 $51 9 %Intra-company revenues34 33 3 %67 65 3 %Total tower revenues62 58 7 %123 116 6 %System operations (excluding Depreciation, amortization and accretion reported below)20 19 6 %39 37 5 %Selling, general and administrative9 9 (1)%18 16 14 %Depreciation, amortization and accretion12 11 7 %23 21 6 %(Gain) loss on asset disposals, net— — 14 %1 1 60 %Total operating expenses41 39 5 %81 75 8 %Operating income$21 $19 11 %$42 $41 2 %Adjusted OIBDA (Non-GAAP)1$34 $31 9 %$67 $64 4 %Adjusted EBITDA (Non-GAAP)1$34 $31 9 %$67 $64 4 %Capital expenditures$3