Company: ARRY
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001820721-25-000023
Chunk: 31

Company: Array Technologies, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1A
Chunk 31
---
 costs, import duties and tariffs and foreign currency exchange rates. When steel prices are higher, the prices that we charge customers for our products may increase, which may decrease demand for our products. If we do not increase our prices due to an increase in the price of steel, we will experience lower profitability on our products. Conversely, if steel prices decline, customers may demand lower prices and 

13

our and our competitors’ responses to those demands could result in lower sale prices, lower volume, and consequently, negatively affect our profitability. 

In addition, as noted above, the IRA provides incremental tax credits for U.S. solar projects satisfying domestic content requirements. If we are unable to provide our tracker products in a manner that satisfies applicable domestic content requirements and our competitors are able to do so, we might experience a decline in sales for U.S. projects. In addition, compliance with these requirements may increase our production costs. In light of the foregoing, our U.S. sales, profitability and results of operations in the U.S. may be adversely affected by the applicable domestic content requirements which must be satisfied in order for solar projects to be eligible for these incremental credits.

Other events that could also cause disruptions to our supply chain include:

•the imposition of additional trade law provisions or regulations; 

•the imposition of additional duties, tariffs and other charges or quotas on imports and exports, or other trade law provisions or regulations, such as anti-dumping and countervailing duties, and our ability to pass along such charges to our customers; 

•continued or renewed instability in the global supply of semiconductors, which has and could continue to impact the timely receipt of our self-powered controller;

•foreign currency fluctuations; 

•inflationary pressure and its impact on labor, commodities and fuel prices;

•natural disasters, severe weather, political instability, war, such as the Russia-Ukraine war or conflict in the Middle East, terrorist attacks, social unrest and economic instability in the regions in which our suppliers are located, or through which our components and materials travel; 

•shipping and transport disruptions;

•public health issues, such as a pandemic or other epidemic, and their effects (including measures taken by governmental authorities in response to their effects); 

•theft or other loss; 

•restrictions on the transfer of funds; 

•the financial instability or bankruptcy of vendors; and 

•significant labor disputes, strikes, work stoppages or boycotts. 

Any significant disruption to our ability to procure our products, and our suppliers’ ability