Company: UZF
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000821130-25-000051
Chunk: 6

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 2
Chunk 6
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▪Retail Connections – individual lines of service associated with each device activated by a postpaid or prepaid customer. Connections are associated with all types of devices that connect directly to the Array network.

▪Tower Tenancy Rate – average number of tenants that lease space on company-owned towers, measured on a per-tower basis.

▪Universal Service Fund (USF) – a system of telecommunications collected fees and support payments managed by the Federal Communications Commission (FCC) intended to promote universal access to telecommunications services in the United States.

4

Financial Overview — Array

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. The financial results include the wireless operations that were sold to T-Mobile on August 1, 2025.

Three Months EndedJune 30,Six Months EndedJune 30,202520242025 vs. 2024202520242024 vs. 2023(Dollars in millions)   Operating RevenuesWireless$888 $902 (1)%$1,751 $1,826 (4)%Towers62 58 7 %123 116 6 %Intra-company eliminations(34)(33)(3)%(67)(65)(3)%Total operating revenues916 927 (1)%1,807 1,877 (4)%Operating expensesWireless874 885 (1)%1,717 1,779 (3)%Towers41 39 5 %81 75 8 %Intra-company eliminations(34)(33)(3)%(67)(65)(3)%Total operating expenses881 891 (1)%1,731 1,789 (3)%Operating income35 36 (4)%76 88 (13)%Other income (expense)Equity in earnings of unconsolidated entities42 38 8 %78 80 (3)%Interest and dividend income4 3 12 %6 6 15 %Interest expense(45)(45)5 %(84)(91)7 %Total other income (expense)1 (4)N/M— (5)99 %Income before income taxes36 32 13 %76 83 (9)%Income tax expense4 14 (73)%24 41 (42)%