Array Technologies Inc
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
ARRY$4.73-8.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations F-
Consolidated Statements of Operations
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenue | $1,576,551 | $1,637,546 | $853,318 |
| Cost of revenue: | |||
| Cost of product and service revenue | 1,146,442 | 1,410,270 | 770,459 |
| Amortization of developed technology | 14,558 | 14,558 | 14,558 |
| Total cost of revenue | 1,161,000 | 1,424,828 | 785,017 |
| Gross profit | 415,551 | 212,718 | 68,301 |
| Operating expenses: | |||
| General and administrative | 159,535 | 150,777 | 80,974 |
| Change in fair value of contingent consideration | 2,964 | (4,507) | 2,696 |
| Depreciation and amortization | 38,928 | 84,581 | 9,372 |
| Total operating expenses | 201,427 | 230,851 | 93,042 |
| Income (loss) from operations | 214,124 | (18,133) | (24,741) |
| Other (expense) income, net | (1,015) | 2,789 | (905) |
| Interest income | 8,330 | 3,181 | 209 |
| Legal settlement | — | 42,750 | — |
| Foreign currency transaction (loss) gain, net | (53) | 1,155 | — |
| Interest expense | (44,229) | (36,694) | (35,684) |
| Total other (expense) income | (36,967) | 13,181 | (36,380) |
| Income (loss) before income tax expense (benefit) | 177,157 | (4,952) | (61,121) |
| Income tax expense (benefit) | 39,917 | (9,384) | (10,718) |
| Net income (loss) | 137,240 | 4,432 | (50,403) |
| Preferred dividends and accretion | 51,691 | 48,054 | 15,715 |
| Net income (loss) to common shareholders | $85,549 | $(43,622) | $(66,118) |
| Income (loss) per common share | |||
| Basic | $0.57 | $(0.29) | $(0.51) |
| Diluted | $0.56 | $(0.29) | $(0.51) |
| Weighted average common shares outstanding | |||
| Basic | 150,942 | 149,819 | 129,984 |
| Diluted | 152,022 | 149,819 | 129,984 |
Consolidated Statements of Comprehensive Income (Loss)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Net income (loss) | $137,240 | $4,432 | $(50,403) |
| Foreign currency(1) | 36,385 | 8,425 | — |
| Comprehensive income (loss) | $173,625 | $12,857 | $(50,403) |
(1) There are no tax effects on foreign currency adjustments.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.