Core Insights - Array Digital Infrastructure, Inc. reported strong financial results for Q4 and full year 2025, with total operating revenues of $60.3 million for Q4 2025, up from $26.1 million in Q4 2024, and full-year revenues of $163.0 million compared to $102.9 million in 2024 [1][2][3] - The company achieved a net income of $41.4 million for Q4 2025, significantly higher than $11.7 million in Q4 2024, and a full-year net income of $169.7 million compared to a loss of $85.9 million in 2024 [1][3] - Array is focused on integrating T-Mobile's MLA, increasing tower tenancy, and monetizing its spectrum assets, including a recent transaction with AT&T [1][2] Financial Performance - Total operating revenues for Q4 2025 were $60.3 million, a 131% increase year-over-year, while full-year revenues reached $163.0 million, a 58% increase from 2024 [1][2] - Net income attributable to Array shareholders for Q4 2025 was $41.4 million, translating to diluted earnings per share of $0.48, compared to $11.7 million and $0.13 in Q4 2024 [1][3] - For the full year 2025, net income was $169.7 million, with diluted earnings per share of $1.94, compared to a loss of $85.9 million and $(1.00) per share in 2024 [1][3] Operational Highlights - Co-location applications, excluding T-Mobile applications, increased by 47%, and site rental revenues rose by 51% [1][2] - The company owns 4,450 cell towers across 19 states, facilitating the deployment of 5G and other wireless technologies [2] - The tower tenancy rate was reported at 21.0% as of December 31, 2025, reflecting growth in co-location [2] Future Guidance - For 2026, Array estimates total operating revenues between $200 million and $215 million, with adjusted EBITDA expected in the range of $200 million to $215 million [1][2] - Capital expenditures for 2026 are projected to be between $25 million and $35 million [1][2] Strategic Transactions - Array closed a sale of spectrum licenses to AT&T for $1.018 billion on January 13, 2026, and has additional agreements with T-Mobile for spectrum licenses totaling $178 million [1][2] - A license purchase agreement with Verizon is expected to close in the second or third quarter of 2026, pending regulatory approval [1][2]