Company: ARRY
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001820721-25-000085
Chunk: 125

Company: Array Technologies, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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 immediate transport to the customer project upon request. Additionally, title and risk of loss has passed to the customer and the Company does not have the ability to use the product or direct it to another customer.The Company did not recognize any revenue from bill-and-hold arrangements during the six months ended June 30, 2025. During the six months ended June 30, 2024, the Company recognized $1.9 million in revenue from one customer under such arrangements. 

24

Remaining Performance Obligations 

As of June 30, 2025, the Company had $644.5 million of remaining performance obligations. The Company expects to recognize revenue on 97% of these performance obligations in the next twelve months. 

10.    Earnings Per Share

The following table sets forth the computation of basic and diluted income per share (in thousands, except per share amounts): Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net income$43,262 $25,698 $60,008 $27,863 Less: preferred dividends and accretion14,788 13,749 29,231 27,251 Net income to common shareholders$28,474 $11,949 $30,777 $612 Basic:Weighted average shares152,584 151,797 152,331 151,574  Income per share$0.19 $0.08 $0.20 $— Diluted:Effect of restricted stock and performance awards484 410 627 596 Weighted average shares153,068 152,207 152,958 152,170 Income per share$0.19 $0.08 $0.20 $— Potentially dilutive common shares issuable pursuant to equity-based awards of 1,467,345 and 1,242,226 were excluded from the computation of diluted earnings per share for the three and six months ended June 30, 2025, respectively, as their effect would have been antidilutive. For the three and six months ended June 30, 2024, shares of 479,623 and 473,074 were also excluded for the same reason.In addition, there were no potentially dilutive common shares issuable pursuant to the Convertible Notes for both the six months ended June 30, 2025 and 2024, as the average market price