Filing Flows › Array Digital Infrastructure (AD) › Q4 2025
Array Digital Infrastructure (AD) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 20, 2026
Array Digital Infrastructure (AD) reported revenue of $60.3M for the fourth quarter 2025 (Q4 2025), +131% from a year earlier and +28% from the quarter before. Operating margin was 14.3%, net earnings $37.5M (62.1% of revenue).
Array Digital Infrastructure, Q4 2025: revenue $60.3M (+131% year over year), operating margin 14.3%, net earnings $37.5M, operating cash flow −$202M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $60.3M | +28% | +131% |
| Operating profit | $8.6M | — | — |
| Net earnings | $37.5M | — | +724% |
| Operating cash flow | −$202M | — | — |
What changed
Revenue was $60.3M in Q4 2025, up 131% year over year and up 28% from the previous quarter. Site rental was the largest line at 91% of revenue.
Operating profit was $8.6M, a 14.3% margin (up 125.9 points year over year). Total costs fell 6% while revenue rose 131%. The fastest-growing cost line was Other operating costs (+18%). Net earnings were $37.5M, up 724% year over year. The effective tax rate was 38.1%. Non-operating items added $52.6M, 86% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$202.1M. Non-cash charges added back $12.4M of depreciation and amortization and $259K of share-based compensation. Working capital and other items used $252.6M. Capital expenditures of $8.6M exceeded it, leaving free cash flow of −$210.7M.
Questions
What was Array Digital Infrastructure's revenue in the fourth quarter 2025?
Array Digital Infrastructure (AD) reported revenue of $60.3M for the fourth quarter 2025 (Q4 2025), +131% from a year earlier and +28% from the quarter before.
Was Array Digital Infrastructure profitable in the fourth quarter 2025?
Operating profit was $8.6M (14.3% of revenue) and net earnings $37.5M.