Array Technologies Inc

For the period ended Mar 31, 2024. Filed May 9, 2024.

About 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.

Mar 31, 2024 · Filed May 9, 2024

ARRY$4.73-8.9%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations

Condensed Consolidated Statements of Operations(unaudited)

(in thousands, except per share amounts)

	Three Months Ended March 31,
	2024	2023
Revenue	$153,403	$376,773
Cost of revenue
Cost of product and service revenue	94,674	275,594
Amortization of developed technology	3,639	3,639
Total cost of revenue	98,313	279,233
Gross profit	55,090	97,540
Operating expenses
General and administrative	37,784	38,142
Change in fair value of contingent consideration	(735)	1,338
Depreciation and amortization	9,627	10,602
Total operating expenses	46,676	50,082
Income from operations	8,414	47,458
Other income, net	814	194
Interest income	3,680	1,231
Foreign currency loss	(499)	(194)
Interest expense	(8,940)	(10,731)
Total other expense, net	(4,945)	(9,500)
Income before income tax expense	3,469	37,958
Income tax expense	1,304	8,323
Net income	2,165	29,635
Preferred dividends and accretion	13,502	12,484
Net (loss) income to common shareholders	$(11,337)	$17,151
(Loss) income per common share
Basic	$(0.07)	$0.11
Diluted	$(0.07)	$0.11
Weighted average number of common shares outstanding
Basic	151,351	150,607
Diluted	151,351	151,795

ContentsView on SEC.gov

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