Array Digital Infrastructure vs AST Spacemobile
Array Digital Infrastructure is the larger business, with $163m of revenue in fiscal 2025 against $70.9m for AST Spacemobile (2.3 times as much). AST Spacemobile grew faster (413.0% against -95.6%). Array Digital Infrastructure kept more of each dollar of sales as profit: a net margin of 29.9% against -482.2%.
| Latest fiscal year | Array Digital InfrastructureAD, 2025 | AST SpacemobileASTS, 2025 |
|---|---|---|
| Revenue | $163m | $70.9m |
| Revenue growth | -95.6% | 413.0% |
| Net income | $48.8m | −$342m |
| Operating margin | -56.8% | — |
| Net margin | 29.9% | -482.2% |
| Return on equity | 1.4% | -22.3% |
| Free cash flow | $174m | −$1.14bn |
| Cash | $113m | $2.34bn |
| Total debt | $674m | $2.22bn |
| Debt to equity | 26.3% | — |
| Dividend per share | — | — |
| Dividend yield | -5.2% | — |
| Share buybacks | $21.4m | — |
| Employees | 60 | 1,126 |
| Market value | $2.91bn | $10.86bn |
| Price vs our value range | Above our value range | — |
| Moat score | 28 (Weak) | 12 (Weak) |
| Insider trades, 12 months | 0 buys, 2 sales | 7 buys, 13 sales |