HIGHOutside partyCustomer
T-Mobile
“10-K Item 1A: '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'”
AD · Concentration risk · 10-K extracted
Array Digital Infrastructure, I (AD) concentration risks
Updated
The most significant concentration Array Digital Infrastructure, I discloses is T-Mobile, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Array Digital Infrastructure, I’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH2
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partyCustomer
Verizon, AT&T and particularly T-Mobile tenants
“10-K Item 1A: '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'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24Array Digital Infrastructure's concentration profile is defined by a single, dominant customer dependency that the filing characterizes in unambiguous terms. The business is described as substantially dependent upon T-Mobile, with the filing noting that if T-Mobile fails to meet its obligations under its leases to Array, this would have a significant adverse impact. By disclosed size this is a large exposure, and its character is one of contractual dependency — the company's revenue is tied to lease obligations from a specific named tenant rather than diffused across a broad set of counterparties. The same dependency is reinforced from a different angle: a substantial portion of Array's revenues are derived from a small number of tenants concentrated in the wireless industry, including Verizon, AT&T and particularly T-Mobile, with the language again singling out T-Mobile as the most prominent relationship within that group. By disclosed size this wireless-tenant concentration is also large, and it compounds the T-Mobile exposure by confirming that the remaining revenue base is not diversified outside the wireless carrier sector — it is simply distributed among a small number of carriers in the same industry. Together, the two disclosures describe a company whose economics are heavily levered to the wireless infrastructure spending decisions of a handful of carriers, with T-Mobile as the most critical single relationship. There is no disclosed geographic or product concentration beyond the wireless industry context. The practical implication is that T-Mobile's lease commitments, capital spending priorities, and network deployment plans are the dominant variables governing Array's revenue stability and long-term growth visibility.
For the engine’s reasoning on AD’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Telecom Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AD● | Array Digital Infrastructure, I | 2 | 0 | 0 | 2 |
| CMCSA | Comcast Corporation | 1 | 1 | 0 | 2 |
| GSAT | Globalstar, Inc. | 1 | 1 | 0 | 2 |
| LBRDA | Liberty Broadband Corporation | 1 | 0 | 0 | 1 |
| IRDM | Iridium Communications Inc | 0 | 1 | 1 | 2 |
| CHTR | Charter Communications, Inc. | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.