Array Technologies, Inc.
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets(unaudited)
(in thousands, except per share and share amounts)
| September 30, 2026 | December 31, 2025 | |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $143,280 | $244,388 |
| Restricted cash | — | 1,596 |
| Accounts receivable, net of allowance of $7,163 and $6,245, respectively | 329,456 | 271,578 |
| Inventories, net | 167,494 | 150,374 |
| Assets held for sale | 3,662 | — |
| Prepaid expenses and other | 91,769 | 201,108 |
| Total current assets | 735,661 | 869,044 |
| Property, plant and equipment, net | 67,442 | 58,225 |
| Lease assets | 94,294 | 97,088 |
| Goodwill | 231,765 | 135,173 |
| Other intangible assets, net | 274,638 | 238,579 |
| Deferred income tax assets | 24,980 | 23,965 |
| Other assets | 156,171 | 29,718 |
| Total assets | $1,584,951 | $1,451,792 |
| LIABILITIES, REDEEMABLE PERPETUAL PREFERRED STOCK AND STOCKHOLDERS' EQUITY | ||
| Current liabilities | ||
| Accounts payable | $199,966 | $143,994 |
| Accrued expenses | 101,533 | 54,289 |
| Income tax payable | — | 4,687 |
| Current portion of deferred revenue | 108,484 | 128,433 |
| Current portion of contingent consideration | 13,166 | 14,551 |
| Current portion of warranty liability | 10,301 | 10,844 |
| Current portion of lease liabilities | 8,470 | 7,662 |
| Current portion of debt | 3,244 | 10,315 |
| Other current liabilities | 8,826 | 2,237 |
| Total current liabilities | 453,990 | 377,012 |
| Deferred income tax liabilities | 19,479 | 22,133 |
| Deferred revenue, net of current portion | 36,031 | 16,794 |
| Contingent consideration, net of current portion | 18,405 | 12,739 |
Condensed Consolidated Balance Sheets(unaudited) (continued)
(in thousands, except per share and share amounts)
| September 30, 2026 | December 31, 2025 | |
|---|---|---|
| Warranty liability, net of current portion | 6,308 | 5,466 |
| Lease liabilities, net of current portion | 89,117 | 89,552 |
| Long-term debt, net of current portion | 658,550 | 658,664 |
| Other long-term liabilities | 1,450 | 9,044 |
| Total liabilities | 1,283,330 | 1,191,404 |
| Commitments and contingencies (Note 12) | ||
| Series A Redeemable Perpetual Preferred Stock of $0.001 par value; 500,000 authorized; 400,0001 and 490,829 shares issued as of September 30, 2026 and December 31, 2025, respectively; liquidation preference of $510.0 million and $493.1 million at each date, respectively | 509,978 | 466,728 |
| Stockholders’ equity | ||
| Preferred 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; 154,269,366 and 152,779,614 shares issued at respective dates | 155 | 152 |
| Additional paid-in capital | 189,253 | 226,848 |
| Accumulated deficit | (388,319) | (422,859) |
| Accumulated other comprehensive loss | (9,446) | (10,481) |
| Total stockholders’ equity | (208,357) | (206,340) |
| Total liabilities, redeemable perpetual preferred stock and stockholders’ equity | $1,584,951 | $1,451,792 |
1 Adjusted to reflect the increase in liquidation preference rather than the number of shares.
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