Company: ARRY
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001820721-25-000095
Chunk: 33

Company: Array Technologies, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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,000 authorized; 483,112 and 460,920 shares issued as of September 30, 2025 and December 31, 2024, respectively; liquidation preference of $493.1 million at both dates451,306 406,931 Stockholders’ equityPreferred stock of $0.001 par value - 4,500,000 shares authorized; none issued at respective dates— — Common stock of $0.001 par value - 1,000,000,000 shares authorized; 152,747,767 and 151,951,652 shares issued at respective dates152 151 Additional paid-in capital238,043 297,780 Accumulated deficit(277,113)(370,624)Accumulated other comprehensive loss(7,799)(45,403)Total stockholders’ equity(46,717)(118,096)Total liabilities, redeemable perpetual preferred stock and stockholders’ equity$1,611,161 $1,425,999 

See accompanying Notes to Condensed Consolidated Financial Statements.

2

Array Technologies, Inc.Condensed Consolidated Statements of Operations (unaudited) (in thousands, except per share amounts)

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Revenue$393,491 $231,406 $1,058,097 $640,575 Cost of revenueCost of product and service revenue283,386 149,452 767,161 410,299 Amortization of developed technology and backlog4,434 3,639 11,713 10,918 Total cost of revenue287,820153,091778,874 421,217 Gross profit105,671 78,315 279,223 219,358 Operating expensesGeneral and administrative52,248 40,149 141,147 114,904 Change in fair value of contingent consideration1,014 (39)1,014 (271)Depreciation and amortization6,958 8,880 17,951 27,384 Goodwill impairment— 162,000 — 162,000 Total operating expenses60,220 210,990 160,112 304,017 Income (loss) from operations45,451 (132,675)119,111 (84,659)Interest income2,977 4,223 10