Company: ARRY
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001820721-25-000095
Chunk: 121

Company: Array Technologies, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 121
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 $181,409 Amortization expense related to intangible assets was $10.6 million and $11.9 million for the three months ended September 30, 2025 and 2024, respectively, of which $4.4 million and $3.6 million, respectively, was included in Amortization of developed technology and backlog, a component of cost of revenue, and $6.2 million and $8.3 million, respectively, was included in Depreciation and amortization, on the accompanying condensed consolidated statements of operations.Amortization expense related to intangible assets was $27.9 million and $36.6 million for the nine months ended September 30, 2025 and 2024, respectively, of which $11.7 million and $10.9 million, respectively, was included in Amortization of developed technology and backlog, a component of cost of revenue, and $16.2 million and $25.7 million, respectively, was included in Depreciation and amortization, on the accompanying condensed consolidated statements of operations.

22

Estimated future amortization expense of intangible assets as of September 30, 2025, is as follows (in thousands):AmountRemainder of 2025$12,863 202644,693 202738,249 202838,249 202938,249 Thereafter61,881 $234,184 

7.    Income Taxes 

The Company follows guidance under ASC Topic 740-270 Income Taxes, which requires that an estimated annual effective tax rate is applied to year-to-date ordinary income (loss). At the end of each interim period, the Company estimates the effective tax rate expected to be applicable for the full fiscal year. The tax effect of discrete items is recorded in the quarter in which the discrete events occur.The Company recorded Income tax expense of $9.9 million and $30.1 million for the three and nine months ended September 30, 2025. The Income tax expense for the three and nine months ended September 30, 2025 was favorably impacted by tax credits recorded during the periods. Additionally, tax expense of zero and $1.2 million related to equity-based compensation was recorded discretely for the three and nine months ended September 30, 2025, respectively.The Company recorded Income tax expense of $3.9 million and $13.0 million for the three