Tearsheet
AD Home Investment Highlights Valuation, Metrics & Events Price Chart Why The Stock Moved Return vs. Risk About AD Interactive Breakdown Better Bets vs. AD Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Trade Sentinel Industry Resource Links External Quote Links

Array Digital Infrastructure (AD)

Market Price (4/7/2026): $48.485 | Market Cap: $4.2 Bil
Sector: Communication Services | Industry: Integrated Telecommunication Services

Array Digital Infrastructure (AD)

Market Price (4/7/2026): $48.485
Market Cap: $4.2 Bil
Sector: Communication Services
Industry: Integrated Telecommunication Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%

Low stock price volatility
Vol 12M is 31%

Megatrend and thematic drivers
Megatrends include Artificial Intelligence, E-commerce Logistics & Data Centers, and Datacenter Power. Themes include Data Centers & Infrastructure, Show more.

Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 87x

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.8%

Key risks
AD key risks include [1] execution risk in its strategic pivot to an infrastructure model, Show more.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%
1 Low stock price volatility
Vol 12M is 31%
2 Megatrend and thematic drivers
Megatrends include Artificial Intelligence, E-commerce Logistics & Data Centers, and Datacenter Power. Themes include Data Centers & Infrastructure, Show more.
3 Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 87x
4 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.8%
5 Key risks
AD key risks include [1] execution risk in its strategic pivot to an infrastructure model, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Array Digital Infrastructure (AD) stock has gained about 10% since 12/31/2025 because of the following key factors:

1. Array Digital Infrastructure completed a significant spectrum asset sale, generating substantial cash and enabling a large special dividend.

On January 13, 2026, the company closed the sale of select spectrum licenses to AT&T for $1.018 billion. This transaction facilitated the declaration of a special cash dividend of $10.25 per share, paid on February 2, 2026, rewarding shareholders. Additional spectrum deals totaling approximately $178 million with T-Mobile and a separate $1 billion agreement with Verizon are expected to further bolster liquidity in 2026.

2. The company reported strong financial results for Q4 2025 and issued optimistic guidance for 2026.

For the fourth quarter of 2025, Array Digital Infrastructure's revenue increased by 131.25% year-over-year to $60.33 million, surpassing consensus estimates. Full-year 2025 total operating revenues grew 58% to $163.0 million, resulting in a net income of $169.7 million or $1.94 diluted EPS, a significant turnaround from a loss in 2024. Management projects 2026 total operating revenues to be between $200 million and $215 million, reflecting confidence in continued growth.

Show more

Stock Movement Drivers

Fundamental Drivers

The 9.0% change in AD stock from 12/31/2025 to 4/6/2026 was primarily driven by a 212.6% change in the company's Net Income Margin (%).
(LTM values as of)123120254062026Change
Stock Price ($)44.5048.509.0%
Change Contribution By: 
Total Revenues ($ Mil)1,8801,9141.8%
Net Income Margin (%)0.8%2.5%212.6%
P/E Multiple254.587.3-65.7%
Shares Outstanding (Mil)8686-0.2%
Cumulative Contribution9.0%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 4/6/2026
ReturnCorrelation
AD9.0% 
Market (SPY)-5.4%19.4%
Sector (XLC)-5.1%16.4%

Fundamental Drivers

The 16.8% change in AD stock from 9/30/2025 to 4/6/2026 was primarily driven by a 14.1% change in the company's P/S Multiple.
(LTM values as of)93020254062026Change
Stock Price ($)41.5148.5016.8%
Change Contribution By: 
Total Revenues ($ Mil)1,8591,9143.0%
P/S Multiple1.92.214.1%
Shares Outstanding (Mil)8686-0.5%
Cumulative Contribution16.8%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 4/6/2026
ReturnCorrelation
AD16.8% 
Market (SPY)-2.9%28.5%
Sector (XLC)-5.3%23.8%

Fundamental Drivers

The 21.2% change in AD stock from 3/31/2025 to 4/6/2026 was primarily driven by a 23.6% change in the company's P/S Multiple.
(LTM values as of)33120254062026Change
Stock Price ($)40.0248.5021.2%
Change Contribution By: 
Total Revenues ($ Mil)1,9291,914-0.7%
P/S Multiple1.82.223.6%
Shares Outstanding (Mil)8586-1.2%
Cumulative Contribution21.2%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2025 to 4/6/2026
ReturnCorrelation
AD21.2% 
Market (SPY)16.3%29.4%
Sector (XLC)16.9%28.0%

Fundamental Drivers

The 304.2% change in AD stock from 3/31/2023 to 4/6/2026 was primarily driven by a 248.5% change in the company's Net Income Margin (%).
(LTM values as of)33120234062026Change
Stock Price ($)12.0048.50304.2%
Change Contribution By: 
Total Revenues ($ Mil)4,1691,914-54.1%
Net Income Margin (%)0.7%2.5%248.5%
P/E Multiple32.887.3166.3%
Shares Outstanding (Mil)8286-5.2%
Cumulative Contribution304.2%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2023 to 4/6/2026
ReturnCorrelation
AD304.2% 
Market (SPY)63.3%11.7%
Sector (XLC)98.6%13.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
AD Return3%-34%99%51%23%8%170%
Peers Return32%-30%10%2%-6%10%8%
S&P 500 Return27%-19%24%23%16%-4%75%

Monthly Win Rates [3]
AD Win Rate42%33%50%58%67%75% 
Peers Win Rate70%37%58%53%45%75% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
AD Max Drawdown-7%-38%-32%-22%-7%-3% 
Peers Max Drawdown-12%-40%-21%-16%-13%-7% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: AMT, CCI, SBAC, EQIX, DLR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/6/2026 (YTD)

How Low Can It Go

Unique KeyEventADS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-64.2%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven179.6%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven74 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-30.7%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven44.3%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven155 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-46.7%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven87.6%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven1,677 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-72.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven264.4%131.3%
2008 Global Financial CrisisTime to BreakevenTime to BreakevenNot Fully Recovered days1,480 days

Compare to AMT, CCI, SBAC, EQIX, DLR

In The Past

Array Digital Infrastructure's stock fell -64.2% during the 2022 Inflation Shock from a high on 6/11/2021. A -64.2% loss requires a 179.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Array Digital Infrastructure (AD)

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides devices, such as smartphones and other handsets, tablets, wearables, mobile hotspots, routers, and internet of things devices. In addition, the company offers various accessories, such as cases, screen protectors, chargers, and memory cards; and consumer electronics, including audio, home automation, and networking products; as well as offers option to purchase devices and accessories under installment contracts. Further, the company offers roaming, wireless eligible telecommunications carrier, and wireless tower rental services. It serves consumer, business, and government customers with 5.0 million connections, including 4.4 million postpaid, 0.5 million prepaid, and 0.1 million reseller and other connections in 21 states. The company provides its products and services through retail sales, direct sales, third-party national retailers, and independent agents, as well as e-commerce and telesales. The company was incorporated in 1983 and is headquartered in Chicago, Illinois. United States Cellular Corporation is a subsidiary of Telephone and Data Systems, Inc.

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

Anthony Carlson President and CEO Anthony Carlson was appointed President and CEO of Array Digital Infrastructure, Inc. in November 2025. He previously served as Vice President of Organizational Transformation at TDS Telecom, Array's sister company. In 2020, he joined the TDS Family of Companies at UScellular, where he held various roles in sales, marketing, and financial analysis, including Senior Director of Growth Marketing Strategy and Execution. He also has prior experience working at McKinsey & Company and Samsung Electronics. Vicki L. Villacrez Executive Vice President and Chief Financial Officer Vicki L. Villacrez is the Executive Vice President and Chief Financial Officer for Array Digital Infrastructure, Inc., a role she assumed at the August 1, 2025 closing. She also serves as Executive Vice President and Chief Financial Officer for TDS, Inc. Prior to her current roles, Ms. Villacrez was Vice President – Finance and CFO at TDS Telecom starting in 2012, and was promoted to Senior Vice President in 2017. She has over 30 years of experience in finance and strategic planning across the TDS enterprise. Douglas W. Chambers Senior Advisor Douglas W. Chambers served as the Interim President and CEO of Array Digital Infrastructure until November 16, 2025, and now holds the position of Senior Advisor until December 9, 2025, to ensure a smooth transition. Mr. Chambers joined the TDS family of companies in 2007. He previously served as Executive Vice President, CFO, and Treasurer of UScellular for six years, where he was instrumental in executing the transformational sale of its wireless operations to T-Mobile US, Inc. Walter Carlson Executive Chair Walter Carlson is the Executive Chair of Array Digital Infrastructure, Inc., and also serves as the President and Chief Executive Officer of TDS. He is a former Senior Counsel and partner of the law firm Sidley Austin LLP. Harry Harczak, Jr. Independent Director Harry Harczak, Jr. is an independent director for Array Digital Infrastructure. He is a private investor and a managing director of Sawdust Investment Management, indicating involvement with private equity. Previously, he held positions at CDW Corporation, serving successively as chief financial officer and executive vice president of sales, marketing, and business development. Before that, Mr. Harczak was a partner at PricewaterhouseCoopers LLP.

AI Analysis | Feedback

Array Digital Infrastructure (symbol: AD) faces several key risks to its business as an owner and operator of shared wireless communications infrastructure.
  1. Dependence on Major Tenants: Array Digital Infrastructure relies significantly on long-term agreements with major wireless carriers, such as T-Mobile, for leasing its tower space. Should these key tenants fail to meet their lease obligations or if these relationships deteriorate, the company's financial results could be adversely impacted due to revenue volatility.
  2. Competition and Emerging Technologies: The company faces competition not only from other tower companies but also from the emergence of alternative technologies. The adoption of systems like satellite and mesh transmission, particularly in rural areas, poses a threat to Array Digital Infrastructure's traditional tower-based business model, potentially disrupting its market position and eroding demand for its infrastructure.
  3. Transition Costs and Operational Challenges: Following the divestiture of its wireless communication services and certain spectrum licenses, Array Digital Infrastructure has incurred substantial transition costs. These include employee-related obligations, advisory fees, and restructuring expenses. The ongoing strategic shift and asset monetization efforts may continue to present operational challenges and impact future earnings.

AI Analysis | Feedback

null

AI Analysis | Feedback

Array Digital Infrastructure (symbol: AD) primarily operates in the wireless communications infrastructure sector, with a core focus on owning and operating shared wireless communications infrastructure, specifically cell towers, within the United States. The company enables the deployment of 5G and other wireless technologies by leasing tower space to wireless carriers and other tenants. Array Digital Infrastructure owns over 4,400 cell towers across the country. Currently, the search results do not provide specific addressable market size figures for Array Digital Infrastructure's main products or services (wireless tower leasing and digital infrastructure) in the United States.

AI Analysis | Feedback

Array Digital Infrastructure (symbol: AD), formerly United States Cellular Corporation, has undergone a significant business transformation, shifting its focus from wireless telecommunications services to digital infrastructure. Over the next 2-3 years, its revenue growth is expected to be driven by several key factors:
  1. Expansion of Tower Leasing and Colocation Services: With a portfolio of approximately 4,400 wireless towers, a primary driver of future revenue growth will be the increased leasing of tower space and colocation services to national carriers and other wireless providers. The company's new business model explicitly focuses on generating revenue through these services.
  2. Demand from 5G and Next-Generation Wireless Technology Deployment: As wireless carriers continue to build out and enhance their 5G networks and deploy other advanced wireless technologies, the demand for Array Digital Infrastructure's tower assets is expected to grow. The company positions itself as enabling the deployment of these technologies across the country.
  3. Revenue from Strategic Wireless Partnerships: Array Digital Infrastructure holds a 5.5% stake in Verizon Wireless' Los Angeles operations, as well as other smaller wireless partnership interests in Oklahoma and upstate New York. Revenue generated from these non-controlling investments will contribute to the company's financial performance.
  4. Growth in Ancillary Services related to Tower Operations: Beyond core tower leasing, Array Digital Infrastructure also offers ancillary services. As the demand for its primary tower infrastructure services grows, so too can the revenue derived from these supporting services, further diversifying its income streams within the digital infrastructure sector.

AI Analysis | Feedback

Capital Allocation Decisions for Array Digital Infrastructure (AD)

Share Repurchases

  • Array Digital Infrastructure repurchased $43 million of common stock in 2022.
  • The company repurchased $31 million of common stock in 2021.

Inbound Investments

  • Newtyn Management disclosed a new $67.5 million position in Array Digital Infrastructure as of September 30, 2025.

Capital Expenditures

  • Array Digital Infrastructure projects capital expenditures for fiscal year 2026 to range between $25 million and $35 million.
  • The anticipated capital expenditures for 2026 are focused on growth and operational enhancement, reflecting confidence in tower growth and spectrum monetization.

Better Bets vs. Array Digital Infrastructure (AD)

Latest Trefis Analyses

Title
0ARTICLES

Trade Ideas

Select ideas related to AD.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
SBAC_3272026_Dip_Buyer_FCFYield03272026SBACSBA CommunicationsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		3.0%3.0%0.0%
META_3272026_Dip_Buyer_ValueBuy03272026METAMeta PlatformsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		8.8%8.8%0.0%
CARG_3062026_Insider_Buying_GTE_1Mil_EBITp+DE_V203062026CARGCarGurusInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		1.2%1.2%-8.3%
YELP_2132026_Dip_Buyer_High_CFO_Margins_ExInd_DE02132026YELPYelpDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		17.9%17.9%-5.7%
TRIP_2132026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG02132026TRIPTripadvisorDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap		10.9%10.9%-3.9%

Recent Active Movers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Peers to compare with:

Financials

ADAMTCCISBACEQIXDLRMedian
NameArray Di.American.Crown Ca.SBA Comm.Equinix Digital . 
Mkt Price48.50176.1486.57212.421,016.08181.99179.06
Mkt Cap4.282.437.722.699.862.550.1
Rev LTM1,91410,6454,2642,8159,2176,1135,188
Op Inc LTM784,9292,0861,5541,9669221,760
FCF LTM413,7842,8751,067-4002,4121,739
FCF 3Y Avg2103,4692,4481,160732,1031,632
CFO LTM2015,4643,0571,2913,9112,4122,735
CFO 3Y Avg6505,1593,0421,3903,4592,1032,572

Growth & Margins

ADAMTCCISBACEQIXDLRMedian
NameArray Di.American.Crown Ca.SBA Comm.Equinix Digital . 
Rev Chg LTM-0.7%5.1%-4.4%5.1%5.4%10.0%5.1%
Rev Chg 3Y Avg573.8%3.5%-14.1%2.3%8.3%9.4%5.9%
Rev Chg Q131.3%7.5%-4.3%3.7%7.0%13.8%7.2%
QoQ Delta Rev Chg LTM1.8%1.8%-1.1%0.9%1.8%3.4%1.8%
Op Mgn LTM4.1%46.3%48.9%55.2%21.3%15.1%33.8%
Op Mgn 3Y Avg-37.2%42.0%48.1%51.6%19.2%14.0%30.6%
QoQ Delta Op Mgn LTM2.0%-0.1%-0.5%-1.2%0.8%0.3%0.1%
CFO/Rev LTM10.5%51.3%71.7%45.9%42.4%39.5%44.2%
CFO/Rev 3Y Avg306.4%49.5%67.9%50.9%39.6%36.7%50.2%
FCF/Rev LTM2.2%35.5%67.4%37.9%-4.3%39.5%36.7%
FCF/Rev 3Y Avg51.4%33.3%55.1%42.5%1.0%36.7%39.6%

Valuation

ADAMTCCISBACEQIXDLRMedian
NameArray Di.American.Crown Ca.SBA Comm.Equinix Digital . 
Mkt Cap4.282.437.722.699.862.550.1
P/S2.27.78.88.010.810.28.4
P/EBIT14.318.718.313.149.035.118.5
P/E87.332.684.821.473.947.860.8
P/CFO20.915.112.317.525.525.919.2
Total Yield1.1%6.9%6.7%6.8%3.2%2.1%5.0%
Dividend Yield0.0%3.8%5.5%2.1%1.9%0.0%2.0%
FCF Yield 3Y Avg4.4%3.9%6.0%5.0%0.1%4.1%4.2%
D/E0.30.50.80.70.20.30.4
Net D/E0.30.50.80.70.20.30.4

Returns

ADAMTCCISBACEQIXDLRMedian
NameArray Di.American.Crown Ca.SBA Comm.Equinix Digital . 
1M Rtn-1.1%-6.6%-3.1%8.8%8.4%4.0%1.5%
3M Rtn7.2%-0.1%-0.9%12.5%32.3%17.6%9.9%
6M Rtn18.1%-4.2%-5.6%14.0%30.1%4.4%9.2%
12M Rtn30.0%-17.2%-10.2%-1.2%35.7%36.2%14.4%
3Y Rtn277.5%-5.7%-24.0%-13.4%52.2%120.8%23.2%
1M Excs Rtn1.5%-2.9%0.5%12.5%9.8%5.1%3.3%
3M Excs Rtn11.8%4.4%2.4%14.7%37.3%21.8%13.3%
6M Excs Rtn17.8%-5.4%-5.6%13.7%34.6%7.8%10.8%
12M Excs Rtn3.6%-32.9%-29.3%-17.6%8.4%9.4%-7.0%
3Y Excs Rtn261.9%-66.0%-86.2%-75.7%-8.3%53.1%-37.1%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Array103    
Elimination of intersegment revenues -127   
Towers 228   
Wireless 3,805   
Equipment sales  1,0441,007970
Inbound roaming  67110152
Operating lease income  93  
Other service  172248229
Retail service  2,7932,7572,686
Total1033,9064,1694,1224,037


Price Behavior

Price Behavior
Market Price$48.50 
Market Cap ($ Bil)4.2 
First Trading Date03/17/1992 
Distance from 52W High-5.3% 
   50 Days200 Days
DMA Price$48.21$43.18
DMA Trendupup
Distance from DMA0.6%12.3%
 3M1YR
Volatility32.2%30.9%
Downside Capture-0.170.17
Upside Capture3.8648.32
Correlation (SPY)18.6%29.0%
AD Betas & Captures as of 3/31/2026

 1M2M3M6M1Y3Y
Beta0.820.460.480.620.490.55
Up Beta2.120.791.650.910.330.32
Down Beta0.670.880.991.010.780.90
Up Capture83%26%13%54%37%58%
Bmk +ve Days7162765139424
Stock +ve Days10233475135396
Down Capture79%28%-8%25%49%60%
Bmk -ve Days12233358110323
Stock -ve Days12192951114350

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with AD
AD20.3%31.4%0.61-
Sector ETF (XLC)16.5%18.3%0.6928.0%
Equity (SPY)15.3%19.0%0.6429.4%
Gold (GLD)49.6%28.0%1.44-1.1%
Commodities (DBC)15.5%17.7%0.740.0%
Real Estate (VNQ)3.1%16.5%0.0130.9%
Bitcoin (BTCUSD)-19.0%44.0%-0.3518.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with AD
AD18.7%59.9%0.47-
Sector ETF (XLC)9.9%20.7%0.3914.5%
Equity (SPY)11.7%17.0%0.5314.3%
Gold (GLD)21.8%17.8%1.014.1%
Commodities (DBC)11.6%18.8%0.502.8%
Real Estate (VNQ)3.4%18.8%0.0917.6%
Bitcoin (BTCUSD)3.0%56.5%0.277.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with AD
AD6.8%50.7%0.30-
Sector ETF (XLC)9.2%22.4%0.4922.4%
Equity (SPY)14.0%17.9%0.6723.7%
Gold (GLD)14.0%15.9%0.730.6%
Commodities (DBC)8.4%17.6%0.398.9%
Real Estate (VNQ)5.1%20.7%0.2121.5%
Bitcoin (BTCUSD)65.9%66.9%1.055.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date3132026
Short Interest: Shares Quantity1.3 Mil
Short Interest: % Change Since 2282026-4.1%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest7.3 days
Basic Shares Quantity86.5 Mil
Short % of Basic Shares1.5%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/20/2026-2.1%-4.6%-9.8%
11/7/2025-2.8%-4.9%3.3%
8/11/20253.7%1.0%-1.0%
5/2/2025-8.4%-8.8%-8.8%
2/21/2025-2.4%-3.0%1.0%
11/1/2024-6.8%4.7%1.9%
7/16/2024-0.5%-6.6%-9.8%
5/3/2024-8.5%23.3%57.4%
...
SUMMARY STATS   
# Positive61112
# Negative181312
Median Positive11.3%4.7%3.3%
Median Negative-3.9%-6.6%-6.1%
Max Positive92.9%117.5%162.5%
Max Negative-22.4%-25.9%-35.1%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202502/20/202610-K
09/30/202511/07/202510-Q
06/30/202508/11/202510-Q
03/31/202505/02/202510-Q
12/31/202402/21/202510-K
09/30/202411/01/202410-Q
06/30/202408/02/202410-Q
03/31/202405/03/202410-Q
12/31/202302/16/202410-K
09/30/202311/03/202310-Q
06/30/202308/04/202310-Q
03/31/202305/04/202310-Q
12/31/202202/16/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/05/202210-Q

Recent Forward Guidance [BETA]

Latest: Q4 2025 Earnings Reported 2/20/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Total operating revenues200.00 Mil207.50 Mil215.00 Mil   
2026 Adjusted OIBDA50.00 Mil57.50 Mil65.00 Mil   
2026 Adjusted EBITDA200.00 Mil207.50 Mil215.00 Mil   
2026 Capital expenditures25.00 Mil30.00 Mil35.00 Mil   

Prior: Q3 2025 Earnings Reported 11/7/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2025 Aggregate proceeds from spectrum sales 178.00 Mil    

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Harczak, Harry J Jr DirectSell818202576.201,960149,3571,476,347Form
2Chambers, Douglas WInterim President and CEODirectSell814202575.7793,3007,069,3411,333,552Form

External Quote Links


Prefer one of these to Trefis? Tell us why.