Company: ARRY
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001820721-25-000085
Chunk: 39

Company: Array Technologies, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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Item 1. Financial Statements.

Array Technologies, Inc. 

Condensed Consolidated Balance Sheets (unaudited)

(in thousands, except per share and share amounts)

June 30, 2025December 31, 2024ASSETSCurrent assetsCash and cash equivalents$377,271 $362,992 Restricted cash1,499 1,149 Accounts receivable, net of allowance of $6,821 and $4,848, respectively367,175 275,838 Inventories, net177,966 200,818 Prepaid expenses and other114,543 157,927 Total current assets1,038,454 998,724 Property, plant and equipment, net35,081 26,222 Goodwill172,608 160,189 Other intangible assets, net174,346 181,409 Deferred income tax assets25,166 17,754 Other assets96,503 41,701 Total assets$1,542,158 $1,425,999 LIABILITIES, REDEEMABLE PERPETUAL PREFERRED STOCK AND STOCKHOLDERS' EQUITYCurrent liabilitiesAccounts payable$161,248 $172,368 Accrued expenses and other101,578 91,183 Income tax payable4,982 5,227 Deferred revenue151,758 119,775 Current portion of contingent consideration2,563 1,193 Current portion of warranty liability2,369 2,063 Current portion of debt36,257 30,714 Other current liabilities7,580 15,291 Total current liabilities468,335 437,814 Deferred income tax liabilities22,775 21,398 Contingent consideration, net of current portion5,294 7,868 Warranty liability, net of current portion5,606 4,830 Long-term debt, net of current portion657,591 646,570 Other long-term liabilities17,262 18,684 Total liabilities1,176,863 1,137,164 

1

Array Technologies, Inc.Condensed Consolidated Balance Sheets (unaudited) (continued)(in thousands, except per share and share amounts)

June 30, 2025December 31, 2024Commitments and contingencies (Note 11)Series A Redeemable Perpetual Preferred Stock of $0.001 par value;