| Stage | TDS | % of rev | AD | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $309M | 100.00% | $54M | 100.00% | TDS ×5.72 |
| Gross profit | $180M | 58.19% | $31M | 56.54% | TDS +1.6pp |
| Operating income | $373M | 120.67% | $399M | 738.42% | AD +617.7pp |
| Pre-tax income | $448M | 144.75% | $453M | 838.39% | AD +693.6pp |
| Net income | $366M | 118.45% | $363M | 670.54% | AD +552.1pp |
| Stage | TDS | AD | Gap · A − B |
|---|---|---|---|
| Revenue | $309M100.00% | $54M100.00% | TDS ×5.72 |
| Gross profit | 58.19%$180M | 56.54%$31M | TDS +1.6pp |
| Operating income | 120.67%$373M | 738.42%$399M | AD +617.7pp |
| Pre-tax income | 144.75%$448M | 838.39%$453M | AD +693.6pp |
| Net income |
| 118.45%$366M |
| 670.54%$363M |
| AD +552.1pp |
TDS 10-KFeb 24 '26
“On October 17, 2024, Array entered into the Verizon License Purchase Agreement to sell certain AWS, Cellular and PCS wireless spectrum licenses and agreed to grant Verizon certain rights to lease such licenses prior to the transaction close.”
AD 10-KFeb 20 '26
“A substantial portion of Array revenues are derived from a small number of tenants concentrated in the wireless industry including Verizon, AT&T and particularly T-Mobile (collectively, large carriers).”
None
TDS 10-KFeb 24 '26
“3.45 GHz and 700 MHz AT&T $ 1,018,044 $ 860,145 November 6, 2024 January 13, 2026”
AD 10-KFeb 20 '26
“A substantial portion of Array revenues are derived from a small number of tenants concentrated in the wireless industry including Verizon, AT&T and particularly T-Mobile (collectively, large carriers).”
TDS 10-KFeb 24 '26
“At the closing of the T-Mobile transaction, Array and T-Mobile entered into a MLA, pursuant to which, among other things, T-Mobile will lease space on certain additional Array-owned towers for a minimum of 15 years and also commit to 15 year minimum extensions of existing leases for Array-owned towers.”
AD 10-KFeb 20 '26
“A substantial portion of Array revenues are derived from a small number of tenants concentrated in the wireless industry including Verizon, AT&T and particularly T-Mobile (collectively, large carriers).”