Array Digital Infrastructure, Inc. (AD) Income Statement
AD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAD revenue and net income
Where AD's revenue goes
2025Each bar shows an amount and its share of revenue. AD kept 178.5% of revenue as net income.
AD profit margins
AD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −95.7% | −66.1% | −47.4% | −27.4% |
| Gross profit | −98.4% | −74.8% | −56.4% | −33.9% |
| Operating income | — | — | — | — |
| Net income | — | +113.2% | +4.9% | +1.9% |
| EPS (diluted) | −32.2% | +6.1% | −25.3% | −0.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AD quarterly EPS vs estimates
Array Digital Infrastructure beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 6, 2026 (estimate $0.07).
AD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $163.0M | $3.77B | $3.91B | $4.17B | $4.12B | $4.04B | $4.02B | $3.97B | $3.89B | $3.99B |
| Cost of revenue | $127.7M | $1.63B | $1.73B | $1.97B | $1.91B | $1.79B | $1.78B | $1.79B | $1.80B | $1.84B |
| Gross profit | $35.2M | $2.14B | $2.18B | $2.20B | $2.21B | $2.24B | $2.24B | $2.18B | $2.09B | $2.15B |
| Sales, general & admin | $84.4M | $1.33B | $1.37B | $1.41B | $1.34B | — | — | — | — | $1.48B |
| Total operating expenses | $84.4M | $2.15B | $2.04B | $2.13B | $2.04B | $2.07B | $2.13B | $2.02B | $2.39B | $2.10B |
| Operating income | −$49.2M | −$12.0M | $139.0M | $69.0M | $170.0M | $173.0M | $112.0M | $158.0M | −$304.0M | $48.0M |
| Interest income | $18.9M | $12.0M | $10.0M | $8.0M | $6.0M | — | — | — | — | — |
| Interest expense | $28.2M | $183.0M | $196.0M | $163.0M | $175.0M | $104.0M | $93.0M | $101.0M | $105.0M | $107.0M |
| Income before taxes | $141.1M | −$22.0M | $111.0M | $72.0M | $180.0M | $250.0M | $185.0M | $215.0M | −$272.0M | $82.0M |
| Income taxes | −$31.1M | $10.0M | $53.0M | $37.0M | $20.0M | $17.0M | $52.0M | $51.0M | −$287.0M | $33.0M |
| Net income | $290.9M | −$39.0M | $54.0M | $30.0M | $155.0M | $229.0M | $127.0M | $150.0M | $12.0M | $48.0M |
| EBITDA | $217.6M | $826.0M | $963.0M | $935.0M | $1.03B | $876.0M | $832.0M | $790.0M | $675.0M | $669.0M |
| EPS (diluted) | $0.61 | $0.90 | $0.79 | $0.51 | $1.77 | $2.62 | $1.43 | $1.72 | $3.76 | $0.58 |
| Gross margin | 21.6% | 56.8% | 55.8% | 52.7% | 53.7% | 55.6% | 55.6% | 54.9% | 53.7% | 53.9% |
| Operating margin | −30.2% | −0.3% | 3.6% | 1.7% | 4.1% | 4.3% | 2.8% | 4.0% | −7.8% | 1.2% |
| Net margin | 178.5% | −1.0% | 1.4% | 0.7% | 3.8% | 5.7% | 3.2% | 3.8% | 0.3% | 1.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $54.1M | $52.0M | $60.3M | $47.1M | $916.0M | $891.0M | $971.0M | $922.0M | $927.0M | $950.0M | $1.00B | $963.0M |
| Cost of revenue | $23.5M | $34.2M | $35.2M | $32.8M | $392.0M | $354.0M | $458.0M | $383.0M | $391.0M | $398.0M | $463.0M | $413.0M |
| Gross profit | $30.6M | $17.8M | $25.1M | $14.3M | $524.0M | $537.0M | $513.0M | $539.0M | $536.0M | $552.0M | $537.0M | $550.0M |
| Sales, general & admin | $22.9M | $12.7M | $15.4M | $20.5M | $328.0M | $332.0M | $353.0M | $324.0M | $322.0M | — | — | — |
| Total operating expenses | −$368.7M | $12.7M | $15.4M | $20.5M | $489.0M | $496.0M | $522.0M | $629.0M | $500.0M | $501.0M | $515.0M | $493.0M |
| Operating income | $399.3M | $5.1M | $9.7M | −$6.2M | $35.0M | $41.0M | −$9.0M | −$90.0M | $36.0M | $51.0M | $22.0M | $57.0M |
| Interest income | $6.4M | $4.2M | $3.6M | $8.9M | $4.0M | $3.0M | $3.0M | $4.0M | $3.0M | — | — | — |
| Interest expense | $10.9M | $7.2M | $12.0M | $8.9M | $45.0M | $40.0M | $46.0M | $49.0M | $45.0M | $43.0M | $47.0M | $47.0M |
| Income before taxes | $453.3M | $232.4M | $65.1M | $47.2M | $36.0M | $40.0M | −$14.0M | −$92.0M | $32.0M | $52.0M | $12.0M | $50.0M |
| Income taxes | $115.9M | $52.4M | $23.3M | −$62.7M | $4.0M | $20.0M | −$19.0M | −$14.0M | $14.0M | $28.0M | −$3.0M | $27.0M |
| Net income | $358.7M | $178.2M | $40.4M | $200.8M | $31.0M | $18.0M | $5.0M | −$79.0M | $17.0M | $18.0M | $14.0M | $23.0M |
| EBITDA | $478.6M | $252.2M | $89.5M | $67.9M | $244.0M | $243.0M | $198.0M | $127.0M | $242.0M | $221.0M | $189.0M | $218.0M |
| EPS (diluted) | $0.44 | $0.42 | $0.49 | −$0.45 | $0.36 | $0.21 | $0.05 | $0.26 | $0.36 | $0.23 | $0.23 | $0.29 |
| Gross margin | 56.5% | 34.2% | 41.6% | 30.3% | 57.2% | 60.3% | 52.8% | 58.5% | 57.8% | 58.1% | 53.7% | 57.1% |
| Operating margin | 738.4% | 9.7% | 16.1% | −13.3% | 3.8% | 4.6% | −0.9% | −9.8% | 3.9% | 5.4% | 2.2% | 5.9% |
| Net margin | 663.4% | 342.6% | 66.9% | 426.2% | 3.4% | 2.0% | 0.5% | −8.6% | 1.8% | 1.9% | 1.4% | 2.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AD's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AD financial results
In fiscal year 2025 (ended December 31, 2025), Array Digital Infrastructure reported revenue of $163.0 million, down 95.7% from the year before. It had net income of $290.9 million, a net profit margin of 178.5%. Diluted earnings per share came to $0.61. Over five years revenue grew at an average rate of −47.4% a year.
See the AD stock overview for the latest quote and news, or the AD chart for price history and technical indicators.
AD income statement FAQ
What is Array Digital Infrastructure's annual revenue?
Array Digital Infrastructure reported total revenue of $163.0 million for fiscal year 2025, which ended on December 31, 2025. That was down 95.7% from $3.8 billion the previous year.
Is Array Digital Infrastructure profitable?
Yes. Array Digital Infrastructure reported net income of $290.9 million in fiscal 2025, a net profit margin of 178.5%; its operating margin was −30.2%.
What is Array Digital Infrastructure's gross margin?
Array Digital Infrastructure's gross margin was 21.6% in fiscal 2025: for every $100 of revenue, Array Digital Infrastructure kept $22 after the direct cost of its products and services.
How fast is Array Digital Infrastructure growing?
Revenue grew −47.4% a year on average over the last five fiscal years, from $4.0 billion to $163.0 million.
What are Array Digital Infrastructure's earnings per share?
Array Digital Infrastructure earned $0.61 per diluted share in fiscal 2025, compared with $0.90 a year earlier.
When will Array Digital Infrastructure report its next earnings?
Array Digital Infrastructure is expected to report results for the quarter ending September 30, 2026 on November 6, 2026.
When does Array Digital Infrastructure's fiscal year end?
Array Digital Infrastructure's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.