Company: ARRY
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001820721-25-000085
Chunk: 41

Company: Array Technologies, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 currency gain (loss), net1,343 (468)2,032 (967)Gain on extinguishment of debts, net14,207 — 14,207 — Other expense, net(79)(1,794)(56)(980)Total other income (expense), net10,503 (6,094)6,499 (11,039)Income before income tax expense56,879 33,508 80,159 36,977 Income tax expense13,617 7,810 20,151 9,114 Net income43,262 25,698 60,008 27,863 Preferred dividends and accretion14,788 13,749 29,231 27,251 Net income to common shareholders$28,474 $11,949 $30,777 $612 Income per common shareBasic$0.19 $0.08 $0.20 $— Diluted$0.19 $0.08 $0.20 $— Weighted average number of common shares outstandingBasic152,584 151,797 152,331 151,574 Diluted 153,068 152,207 152,958 152,170 

See accompanying Notes to Condensed Consolidated Financial Statements.

3

Array Technologies, Inc.Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) (in thousands)

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net income $43,262 $25,698 $60,008 $27,863 Foreign currency translation(1)21,439 (43,768)36,716 (63,010)Comprehensive income (loss)$64,701 $(18,070)$96,724 $(35,147)(1) There are no tax effects on foreign currency adjustments.

See accompanying Notes to Condensed Consolidated Financial Statements.

4

Array Technologies, Inc.Condensed Consolidated Statements of Changes in Redeemable Perpetual Preferred Stock and Stockholders’ Equity(unaudited) (in thousands)

Three Months Ended June 30, 2025

Temporary EquityPermanent EquitySeries A Redeemable Perpetual Preferred StockPreferred StockCommon StockSharesAmountSharesAmountSharesAmountAdditional Paid-In CapitalAccumulated DeficitAccumulated Other Comprehensive LossTotal Stockholders’