Company: ARRY
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001820721-25-000095
Chunk: 142

Company: Array Technologies, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 142
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 from the design, manufacture and sale of utility-scale solar tracker systems in the U.S., and STI Operations consists primarily of amounts earned from the design, manufacture and sale of utility-scale solar tracker systems outside of the U.S.The Company’s CODM assesses the performance of each operating segment by using gross profit. This measure is also predominantly used in the annual budget and forecasting process. The CODM primarily uses the annual operating plan and the monthly financial results for Array Legacy Operations and STI Operations when making decisions about the allocation of operating and capital resources to each segment. The following tables summarize the financial results by segment during the periods presented (in thousands): Three months ended September 30, 2025Array Legacy OperationsSTI OperationsConsolidatedSegment revenue$353,374 $40,117 $393,491 Less:Product cost (1)233,575 35,572 269,147 Amortization of developed technology and backlog4,434 — 4,434 Depreciation845 (67)778 Other costs (2)12,393 1,068 13,461 Gross profit102,127 3,544 105,671 Total operating expenses— — (60,220)Total other income, net— — (2,007)Income before income taxes$43,444 Segment assets1,211,117 400,044 1,611,161 Capital expenditures5,211 302 5,513 Depreciation and amortization9,209 2,960 12,169 Interest income2,866 111 2,977 Interest expense4,362 684 5,046 Three months ended September 30, 2024Array Legacy OperationsSTI OperationsConsolidatedSegment revenue$160,266 $71,140 $231,406 Less:Product cost (1)84,474 56,054 140,528 Amortization of developed technology and backlog3,639 — 3,639 Depreciation602 — 602 Other costs (2)5,825 2,497 8,322 Gross profit65,726 12,589 78,315 Total operating expenses— — (210,990)Total other expense, net— — (4,829)Income before income taxes$(137,504)Segment assets898,159 664,945