Company: ARRY
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001820721-25-000085
Chunk: 92

Company: Array Technologies, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 92
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$299,541 $205,559 69 %STI Operations70,357 70,606 (249)— %159,506 109,628 49,878 45 %Total$362,243 $255,766 $106,477 42 %$664,606 $409,169 $255,437 62 %Gross profitArray Legacy Operations$84,005 $77,306 $6,699 9 %$149,686 $126,392 $23,294 18 %STI Operations13,119 8,647 4,472 52 %23,866 14,651 9,215 63 %Total$97,124 $85,953 $11,171 13 %$173,552 $141,043 $32,509 23 %

Comparison of the three and six months ended June 30, 2025 and 2024

Revenue 

Consolidated revenue increased $106.5 million, or 42%, for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, primarily driven by higher revenue from Array Legacy Operations of 58%.

Array Legacy Operations revenue increased by $106.7 million, or 58%, for the three months ended June 30, 2025 compared to the three months ended June 30, 2024, primarily driven by an increase of approximately 81% in volume, partially offset by a decrease of approximately 13% in ASPs, reflecting the commodity price decrease at the time when revenue contracts were executed. 

Revenue from STI Operations decreased by 0.2 million, or 0.4% for the three months ended June 30, 2025 compared to the three months ended June 30, 2024. The decrease was primarily driven by a decrease of approximately 8% in volume and an increase of approximately 5% in ASPs, partially offset by a favorable foreign currency impact of approximately 3%.

Consolidated revenue increased $255.4 million, or 62%, for the six months ended June 30, 2025, compared to the six months ended June 30, 2024, primarily driven by higher revenue from Array Legacy Operations of 69% and STI Operations of 45%.

Array Legacy Operations revenue increased by $205.6