Array Digital Infrastructure (AD) Operating Expenses (2009 - 2026)
Array Digital Infrastructure's Operating Expenses was -$345.19 million in Q2 2026, compared with $46.72 million a year earlier.
Powered by 
Analysis
Array Digital Infrastructure (AD) Operating Expenses (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Array Digital Infrastructure's Operating Expenses was -$301.8 million through Jun 30, 2026; for FY2025, it was $255.49 million, down 29.7% from FY2024.
- Operating Expenses shows a five-year compound annual growth rate of -41.9% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $363.27 million in FY2024 (+70.8%), $212.69 million in FY2023 (-94.8%), $4.1 billion in FY2022 (+3.7%) and $3.95 billion in FY2021 (+2.3%).
- The Q2 2026 figure marks the lowest quarterly Operating Expenses since Q4 2023.
- The best year-over-year quarter for Operating Expenses over five years was Q3 2022 (growth of 13.1%); the worst was Q2 2025 (a decline of 94.8%).
- Per Business Quant data, AD's Operating Expenses in the three quarters before Q2 2026 was -$108.77 million (Q1 2026), $51.73 million (Q4 2025) and $100.43 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | American Tower | 76.26 Bn | 75.99 Bn | 2.72 Bn | 1.48 Bn |
| 2 | Digital Realty Trust | 64.98 Bn | 55.50 Bn | - | 1.46 Bn |
| 3 | Crown Castle | 28.39 Bn | 27.14 Bn | 989.00 Mn | 538.00 Mn |
| 4 | Sba Communications | 16.99 Bn | 17.07 Bn | 539.27 Mn | 363.41 Mn |
| 5 | Lamar Advertising | 12.56 Bn | 12.38 Bn | 422.53 Mn | 408.79 Mn |
| 6 | OUTFRONT Media | 4.89 Bn | 4.65 Bn | 276.40 Mn | 406.40 Mn |
| 7 | Array Digital Infrastructure | 2.92 Bn | 1.81 Bn | 30.57 Mn | -345.19 Mn |
| 8 | IHS Holding | 2.80 Bn | -57.74 Mn | 207.10 Mn | -125.40 Mn |
| 9 | Fermi | 2.69 Bn | 1.82 Bn | - | 26.76 Mn |
| 10 | Clear Channel Outdoor Holdings | 1.20 Bn | 488.27 Mn | 241.86 Mn | 69.97 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -345.19 Mn |
| Mar 31, 2026 | -108.77 Mn |
| Dec 31, 2025 | 51.73 Mn |
| Sep 30, 2025 | 100.43 Mn |
| Jun 30, 2025 | 46.72 Mn |
| Mar 31, 2025 | 56.61 Mn |
| Dec 31, 2024 | 55.21 Mn |
| Sep 30, 2024 | 185.91 Mn |
| Jun 30, 2024 | 891.00 Mn |
| Mar 31, 2024 | 899.00 Mn |
| Dec 31, 2023 | -2.58 Bn |
| Sep 30, 2023 | 906.00 Mn |
| Jun 30, 2023 | 923.00 Mn |
| Mar 31, 2023 | 960.00 Mn |
| Dec 31, 2022 | 1.08 Bn |
| Sep 30, 2022 | 1.10 Bn |
| Jun 30, 2022 | 987.00 Mn |
| Mar 31, 2022 | 939.00 Mn |
| Dec 31, 2021 | 1.06 Bn |
| Sep 30, 2021 | 971.00 Mn |
API Access
Array Digital Infrastructure Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=AD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "AD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=AD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();