Revenue has collapsed by 95.68% year-over-year as the firm pivots to infrastructure, resulting in a compressed gross margin of 34.2% that reflects ongoing legacy cost burdens.
| Revenue | 1.08B | 162.96M | 3.77B | 3.91B | 4.17B | 4.12B | 4.04B | 4.02B | 3.97B | 3.89B | 3.99B | 4.03B | 3.89B |
| Revenue Growth % | -71.02% | -95.68% | -3.48% | -6.31% | 1.14% | 2.11% | 0.37% | 1.39% | 1.98% | -2.51% | -1.02% | 3.54% | - |
| Cost of Revenue | 494.28M | 127.75M | 1.63B | 1.73B | 1.97B | 1.91B | 1.79B | 1.78B | 1.79B | 1.8B | 1.84B | 1.83B | 1.96B |
| Gross Profit | 581.18M | 35.21M | 2.14B | 2.18B | 2.2B | 2.21B | 2.24B | 2.24B | 2.18B | 2.09B | 2.15B | 2.2B | 1.93B |
| Gross Margin % | 54.04% | 21.61% | 56.76% | 55.76% | 52.72% | 53.71% | 55.59% | 55.64% | 54.9% | 53.65% | 53.86% | 54.65% | 49.58% |
| Gross Profit Growth % | - | -98.35% | -1.74% | -0.91% | -0.72% | -1.34% | 0.27% | 2.75% | 4.36% | -2.89% | -2.45% | 14.15% | - |
| Operating Expenses | 537.65M | 84.44M | 2.15B | 2.04B | 2.13B | 2.04B | 2.07B | 2.13B | 2.02B | 2.39B | 2.1B | 1.86B | 2.07B |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA | 243.4M | -968K | 653M | 795M | 769M | 848M | 856M | 814M | 798M | 311M | 666M | 954M | 463M |
| EBITDA Margin % | 22.63% | -0.59% | 17.32% | 20.35% | 18.45% | 20.57% | 21.2% | 20.24% | 20.12% | 7.99% | 16.69% | 23.67% | 11.89% |
| EBITDA Growth % | -62.09% | -100.15% | -17.86% | 3.38% | -9.32% | -0.93% | 5.16% | 2% | 156.59% | -53.3% | -30.19% | 106.05% | - |
| Depreciation & Amortization | 199.87M | 48.26M | 665M | 656M | 700M | 678M | 683M | 702M | 640M | 615M | 618M | 607M | 606M |
| D&A / Revenue % | 18.58% | 29.62% | 17.64% | 16.79% | 16.79% | 16.45% | 16.92% | 17.45% | 16.13% | 15.81% | 15.49% | 15.06% | 15.57% |
| Operating Income (EBIT) | 43.53M | -49.23M | -12M | 139M | 69M | 170M | 173M | 112M | 158M | -304M | 48M | 347M | -143M |
| Operating Margin % | 4.05% | -30.21% | -0.32% | 3.56% | 1.66% | 4.12% | 4.29% | 2.78% | 3.98% | -7.81% | 1.2% | 8.61% | -3.67% |
| Operating Income Growth % | - | -310.25% | -108.63% | 101.45% | -59.41% | -1.73% | 54.46% | -29.11% | 151.97% | -733.33% | -86.17% | 342.66% | - |
| Interest Expense | 4M | 28.22M | 183M | 196M | 163M | 175M | 104M | 93M | 101M | 105M | 107M | 84M | 45M |
| Interest Coverage | - | 6.00x | 0.88x | 1.57x | 1.44x | 2.03x | 1.86x | 1.40x | 1.49x | 0.57x | 0.48x | 1.21x | -5.96x |
| Interest / Revenue % | 0.37% | 17.32% | 4.85% | 5.02% | 3.91% | 4.25% | 2.58% | 2.31% | 2.55% | 2.7% | 2.68% | 2.08% | 1.16% |
| Non-Operating Income | 4M | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Pretax Income | 380.74M | 141.12M | -22M | 111M | 72M | 180M | 250M | 185M | 215M | -272M | 82M | 404M | -59M |
| Pretax Margin % | 35.4% | 86.6% | -0.58% | 2.84% | 1.73% | 4.37% | 6.19% | 4.6% | 5.42% | -6.99% | 2.06% | 10.02% | -1.52% |
| Income Tax | 17.03M | -31.15M | 10M | 53M | 37M | 20M | 17M | 52M | 51M | -287M | 33M | 157M | -12M |
| Effective Tax Rate % | 4.47% | -22.07% | -45.45% | 47.75% | 51.39% | 11.11% | 6.8% | 28.11% | 23.72% | 105.51% | 40.24% | 38.86% | 20.34% |
| Net Income | 450.36M | 290.92M | -39M | 54M | 30M | 155M | 229M | 127M | 150M | 12M | 48M | 241M | -43M |
| Net Margin % | 41.88% | 178.52% | -1.03% | 1.38% | 0.72% | 3.76% | 5.67% | 3.16% | 3.78% | 0.31% | 1.2% | 5.98% | -1.1% |
| Net Income Growth % | 1254.78% | 845.95% | -172.22% | 80% | -80.65% | -32.31% | 80.31% | -15.33% | 1150% | -75% | -80.08% | 660.47% | - |
| EPS (Diluted) | 5.21 | 3.33 | -0.46 | 0.63 | 0.35 | 1.77 | 2.62 | 1.44 | 1.72 | 0.14 | 0.56 | 2.84 | -0.51 |
| EPS Growth % | 1253.33% | 823.91% | -173.02% | 80% | -80.23% | -32.44% | 81.94% | -16.28% | 1128.57% | -75% | -80.28% | 656.86% | - |
| EPS (Basic) | - | 3.39 | -0.45 | 0.64 | 0.35 | 1.80 | 2.66 | 1.48 | 1.74 | 0.14 | 0.56 | 2.87 | -0.51 |
| Diluted Shares Outstanding | 86.49M | 87.29M | 86M | 87M | 86M | 87M | 87M | 88M | 87M | 86M | 85M | 85M | 84M |
Carrier CapEx Concentration Risk
As reported in recent financial filings, UZD experienced a 95.68% year-over-year revenue decline, signaling a definitive transition from a high-volume consumer wireless service provider to a specialized, lower-revenue infrastructure leasing entity focused on tower assets and spectrum licenses within specific, high-barrier-to-entry rural and mid-tier markets.
The precipitous drop in top-line figures confirms the divestiture of legacy wireless operations, rendering historical growth comparisons largely irrelevant for future performance modeling. Investors should interpret this as a 'day-one' scenario where the company's durability now hinges entirely on the recurring nature of long-term tower lease contracts rather than consumer subscription volume.
Based on the latest quarterly data, the company's gross margin has contracted to 34.2%, a significant deviation from the 50%-plus levels maintained prior to the asset divestiture, suggesting that the current cost structure remains burdened by legacy overheads not yet fully aligned with the new infrastructure model.
The current margin profile appears insufficient to support the remaining corporate infrastructure, as evidenced by the persistent volatility in operating margins. Future profitability will likely depend on the company's ability to increase tenancy ratios on its existing tower portfolio to achieve the economies of scale typical of established digital infrastructure REITs.
According to the income statement, the reported net margin of 178.52% in 2026Q1 is heavily skewed by non-recurring gains from asset disposals, which masks the underlying operational reality of a business currently struggling to achieve consistent profitability through its core tower leasing and spectrum management activities.
Analysts should exercise caution when evaluating net income, as these one-time items provide a misleading picture of sustainable earnings power. A focus on core EBITDA, stripped of divestiture-related windfalls, is necessary to determine whether the new business model can eventually generate positive, recurring cash flows.
While the company's pivot to infrastructure is strategic, the financial data suggests a heightened risk profile, as the firm's revenue is now critically dependent on the network expansion and equipment consolidation strategies of a very limited number of national carriers, as indicated by recent quarterly performance trends.
Short-term observers may focus on the potential for 'cell site grooming,' where carriers consolidate equipment to reduce costs, directly threatening UZD's lease renewal rates. This concentration risk warrants further investigation into the specific terms of the company's master lease agreements and the geographic importance of its tower assets to major carrier networks.
Quick answers to the most common questions about buying UZD stock.
For fiscal year 2025, Array Digital Infrastructure, Inc. 6.250% Senior Notes due 2069 (UZD) reported total revenue of $163.0M. This represents a 95.8% decline compared to $3.89B in 2014.
Array Digital Infrastructure, Inc. 6.250% Senior Notes due 2069 (UZD) is profitable, generating $290.9M in net income for the fiscal year ending 2025 with a net profit margin of 178.5%.
Array Digital Infrastructure, Inc. 6.250% Senior Notes due 2069 (UZD) reported an operating income of $-49.2M, resulting in an operating profit margin of -30.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Array Digital Infrastructure, Inc. 6.250% Senior Notes due 2069 (UZD) generated $35.2M in gross profit for the year, representing a gross profit margin of 21.6%. This demonstrates the company's core pricing power and production efficiency.