Filing Flows › Array Digital Infrastructure (AD) › Q3 2025
Array Digital Infrastructure (AD) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Array Digital Infrastructure (AD) reported revenue of $47.1M for the third quarter 2025 (Q3 2025), +83% from a year earlier and -95% from the quarter before. Operating margin was -113.1%, net loss $20.6M (43.7% of revenue).
Array Digital Infrastructure, Q3 2025: revenue $47.1M (+83% year over year), operating margin -113.1%, net loss $20.6M, operating cash flow −$81.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $47.1M | -95% | +83% |
| Operating profit | −$53.3M | -252% | — |
| Net earnings | −$20.6M | -165% | — |
| Operating cash flow | −$81.7M | -125% | — |
What changed
Revenue was $47.1M in Q3 2025, up 83% year over year and down 95% from the previous quarter. Equipment sales was the largest line at 97% of revenue. Equipment sales added $20.2M year over year (up 79%), 94% of the total change.
Operating costs exceeded revenue by $53.3M, an operating margin of -113.1%. Total costs fell 46% while revenue rose 83%. The fastest-growing cost line was Cost of revenue (+15%). The quarter ended with a net loss of $20.6M, after a profit of $32.2M the previous quarter. Net interest and other expense of $30.0M was the main reason.
Operating cash flow was −$81.7M. Non-cash charges added back $11.9M of depreciation and amortization. Working capital and other items used $73.0M. Capital expenditures of −$128.4M left free cash flow of $46.7M.
Questions
What was Array Digital Infrastructure's revenue in the third quarter 2025?
Array Digital Infrastructure (AD) reported revenue of $47.1M for the third quarter 2025 (Q3 2025), +83% from a year earlier and -95% from the quarter before.
Was Array Digital Infrastructure profitable in the third quarter 2025?
Operating loss was $53.3M (-113.1% of revenue) and net loss $20.6M.