Company: ARRY
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001820721-25-000095
Chunk: 32

Company: Array Technologies, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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Item 1. Financial Statements.

Array Technologies, Inc. 

Condensed Consolidated Balance Sheets (unaudited)

(in thousands, except per share and share amounts)

September 30, 2025December 31, 2024ASSETSCurrent assetsCash and cash equivalents$221,516 $362,992 Restricted cash1,587 1,149 Accounts receivable, net of allowance of $8,418 and $4,848, respectively378,592 275,838 Inventories, net180,885 200,818 Prepaid expenses and other83,969 157,927 Total current assets866,549 998,724 Property, plant and equipment, net54,664 26,222 Goodwill245,215 160,189 Other intangible assets, net244,484 181,409 Deferred income tax assets17,312 17,754 Other assets182,937 41,701 Total assets$1,611,161 $1,425,999 LIABILITIES, REDEEMABLE PERPETUAL PREFERRED STOCK AND STOCKHOLDERS' EQUITYCurrent liabilitiesAccounts payable$231,876 $172,368 Accrued expenses and other76,583 91,183 Income tax payable2,479 5,227 Deferred revenue95,387 119,775 Current portion of contingent consideration17,666 1,193 Current portion of warranty liability4,234 2,063 Current portion of debt22,595 30,714 Other current liabilities7,669 15,291 Total current liabilities458,489 437,814 Deferred income tax liabilities22,042 21,398 Contingent consideration, net of current portion11,212 7,868 Warranty liability, net of current portion5,984 4,830 Long-term debt, net of current portion658,378 646,570 Other long-term liabilities50,467 18,684 Total liabilities1,206,572 1,137,164 

1

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

September 30, 2025December 31, 2024Commitments and contingencies (Note 12)Series A Redeemable Perpetual Preferred Stock of $0.001 par value; 500