Company: ARRY
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001820721-25-000095
Chunk: 52

Company: Array Technologies, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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Computer software and other15,251 14,552 Customer relationships121,065 102,541 Backlog19,388 16,877 Trade name3,284 2,245 Total accumulated amortization293,913 259,677 Total amortizable intangibles, net234,184 171,109 Non-amortizable:Trade name10,300 10,300 Total other intangible assets, net$244,484 $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