ARRAY DIGITAL INFRASTRUCTURE, INC. (AD) SEC Filings & Earnings Calls

DISH Wireless bankruptcy may impact future revenue; pending TDS acquisition creates uncertainty.

“DISH Wireless filed for bankruptcy; TDS made non-binding proposal to acquire outstanding shares.”

Spectrum sale gains are non-recurring; core tower operations still developing.

“Net income includes significant gains from spectrum sales; site rental revenue growing but smaller base.”

DISH Wireless bankruptcy and revenue loss

“In June 2026, DISH Wireless and other DISH entities filed for bankruptcy and Array is monitoring those proceedings.” · word for word

T-Mobile interim lease revenue decline

“Array expects interim lease revenue, which was $6.7 million and $14.9 million for the three and six months ended June 30, 2026, respectively, to continue to decline in future periods as T-Mobile terminates these interim leases over the course of the 30-month integration period, which ends January 2028.” · word for word

TDS take-private proposal uncertainty

“There is no guarantee that any definitive agreement will be entered into or that any transaction will be accepted, rejected, consummated or abandoned, and the terms of any such transaction may differ materially from those originally proposed by TDS.” · word for word

Concentration on T-Mobile

“Array is particularly reliant on its relationship with T-Mobile.” · word for word

Proposal non-binding and may not be consummated

“No assurances can be given that the transaction contemplated by the Proposal or any other potential transaction involving TDS and the Issuer will be consummated, or if a transaction is undertaken, as to its terms or timing.” · word for word

DISH Wireless payment default

“DISH Wireless has subsequently failed to make certain payments due to Array under their contractual commitment.” · word for word

T-Mobile interim lease cancellations

“Array expects revenue will decline in future periods as T-Mobile terminates these interim leases.” · word for word

Spectrum sale to Verizon may not close

“This license transaction remains subject to regulatory approval and other customary closing conditions.” · word for word

Parent company buyout proposal uncertainty

“There can be no guarantee whether any transaction will be accepted, rejected, consummated or abandoned.” · word for word

DISH Wireless dispute could impact lease revenue; Array believes claim is without merit.

“DISH Wireless has subsequently failed to make certain payments due to Array under their contractual commitment. Array believes that DISH Wireless' claim that its obligations under its Agreement with Array are excused is without merit.” · word for word

Spectrum sale transactions subject to regulatory approvals; delays could impact cash flow timing.

“Pending transactions subject to receipt of regulatory approvals... expected to close in Q2/Q3 2026.”

Concentration on TDS parent

“TDS, as the sole holder of Series A Common Shares, has 86.1% voting power and elects 6 of 9 directors.” · word for word

Spectrum monetization dependency

“Array expects that the remaining pending spectrum transactions will close in 2026.” · word for word

DISH Wireless payment default

“DISH Wireless has failed to make certain payments due to Array under their contractual commitment.” · word for word

Spectrum monetization failure

“most of the remaining spectrum licenses not subject to the Verizon and T-Mobile spectrum transactions have FCC build-out requirements that have not yet been fully satisfied.” · word for word

T-Mobile dependency

“Array’s business is substantially dependent upon T-Mobile, and if T-Mobile fails to meet its obligations under these leases to Array, this would have a significant adverse impact on Array's business and financial results.” · word for word

TDS controlling shareholder conflict

“TDS owns over 80% of the combined shares outstanding... and controls 96% of their combined voting power.” · word for word

Pending transactions subject to regulatory approvals and closing conditions

“Additional T-Mobile agreements totaling $178M and Verizon spectrum sale expected Q2-Q3 2026, subject to regulatory approval and customary conditions.”

Integration risk from T-Mobile MLA and spectrum monetization execution

“Management emphasizes focus on smooth T-Mobile MLA integration and increasing tower tenancy.”

Spectrum monetization uncertainty

“There is no guarantee that such transactions contemplated by the License Purchase Agreements will be consummated and, in particular, the impact of the ongoing government shutdown on timing of closing of these transactions is unknown.” · word for word

Customer concentration risk

“Array will be particularly reliant on its relationship with T-Mobile.” · word for word

Transition and wind-down costs

“Array expects legacy wireless operations winddown expenses to persist at third quarter of 2025 levels into the first half of 2026.” · word for word

Echostar revenue risk

“Site rental revenues from Echostar Communications could be negatively impacted in future periods; see Risk Factors in this report for additional information.” · word for word

Customer concentration risk: T-Mobile is a major tenant under MLA.

“Array's reliance on a small number of tenants for a substantial portion of its revenues” · word for word

Spectrum sale completion risk: pending regulatory approvals.

“subject to closing conditions and regulatory approvals” · word for word