Array Digital Infrastructure Inc 2026年季度报告

(Mark One) 62-1147325 (IRS Employer Identification No.) Securities registered pursuant to Section 12(b) of the Act:Title of each class New York Stock ExchangeNew York Stock ExchangeNew York Stock ExchangeNew York Stock Exchange Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ The number of shares outstanding of each of the issuer's classes of common stock, as of March 31, 2026, is 53.4 million CommonShares, $1 par value, and 33.0 million Series A Common Shares, $1 par value. Array Digital Infrastructure, Inc. Index Management's Discussion and Analysis of Financial Condition and Results of OperationsExecutive OverviewTerms Used by ArrayArray OperationsFinancial OverviewLiquidity and Capital ResourcesConsolidated Cash Flow AnalysisConsolidated Balance Sheet AnalysisSupplemental Information Relating to Non-GAAP Financial MeasuresApplication of Critical Accounting Policies and EstimatesPrivate Securities Litigation Reform Act of 1995 Safe Harbor Cautionary Statement Risk Factors Quantitative and Qualitative Disclosures About Market Risk Financial Statements (Unaudited)Consolidated Statement of OperationsConsolidated Statement of Cash FlowsConsolidated Balance SheetConsolidated Statement of Changes in EquityNotes to Consolidated Financial Statements Signatures36 Array Digital Infrastructure, Inc.Management’s Discussion and Analysis ofFinancial Condition and Results of Operations Executive Overview The following discussion and analysis compares Array Digital Infrastructure, Inc.'s (Array) financial results for the three months endedMarch 31, 2026, to the three months ended March 31, 2025.It should be read in conjunction with Array’s interim consolidated financialstatements and notes included herein, and with the description of Array’s business, its audited consolidated financial statements andManagement's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) included in Array’s Annual Report onForm 10-K (Form 10-K) for the year ended December 31, 2025.Certain numbers included herein are rounded to thousands or millionsfor ease of presentation; however, certain calculated amounts and percentages are determined using the unrounded numbers. This report contains statements that are not based on historical facts, which may be identified by words such as “believes,”“anticipates,” “estimates,” “expects,” “plans,” “intends,” “projects,” “will” and similar expressions.These statements constitute andrepresent “forward looking statements” as this term is defined in the Private Securities Litigation Reform Act of 1995.Such forwardlooking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events ordevelopments to be significantly different from any future results, events or developments expressed or implied by such forward lookingstatements. See the disclosure under the heading Private Securities Litigation Reform Act of 1995 Safe Harbor Cautionary Statementelsewhere in this report for additional information. The accounting policies of Array conform to accounting principles generally accepted in the United States of America (GAAP). However,Array uses certain “non-GAAP financial measures” in the MD&A. A discussion of the reasons Array determines these metrics to beuseful and reconciliations of these measures to their most directly comparable measures determined in accordance with GAAP areincluded in the disclosure under the heading Supplemental Information Relating to Non-GAAP Financial Measures within the MD&A ofthis report. Overview Array connects America through digital infrastructure by leasing tower space to tenants and providing ancillary services. Array alsoholds noncontrolling interests in primarily wireless operating companies and holds certain wireless spectrum licenses. As of March 31,2026, Array is an 81.9%-owned subsidiary of Telephone and Data Systems, Inc. (TDS). Towers Array seeks to grow tower revenue primarily through increasing colocations on existing towers and amendments to existing colocations.Array seeks to provide unique tower locations, attractive terms and streamlined implementation to wireless network operators, internetservice providers, government and public safety agencies, broadcast and media companies, and other businesses. As of March 31,2026, Array owns 4,452 towers in 19 states. Noncontrolling interest investments Array holds noncontrolling interests in primarily wireless operating companies that generate material amounts of income and cashdistributions. These entities primarily consist of wireless entities managed by Verizon and AT&T. The noncontrolling entities that aremanaged by Array consist primarily of tower operations. Retained spectrum Array hol