Array Technologies Inc

For the period ended Mar 31, 2025. Filed May 6, 2025.

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, 2025 · Filed May 6, 2025

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,
	2025	2024
Revenue	$302,363	$153,403
Cost of revenue
Cost of product and service revenue	222,296	94,674
Amortization of developed technology	3,639	3,639
Total cost of revenue	225,935	98,313
Gross profit	76,428	55,090
Operating expenses
General and administrative	43,945	37,784
Change in fair value of contingent consideration	(150)	(735)
Depreciation and amortization	5,349	9,627
Total operating expenses	49,144	46,676
Income from operations	27,284	8,414
Other expense, net	23	814
Interest income	3,319	3,680
Foreign currency gain (loss), net	689	(499)
Interest expense	(8,035)	(8,940)
Total other expense, net	(4,004)	(4,945)
Income before income tax expense	23,280	3,469
Income tax expense	6,534	1,304
Net income	16,746	2,165
Preferred dividends and accretion	14,443	13,502
Net income (loss) to common shareholders	$2,303	$(11,337)
Income (loss) per common share
Basic	$0.02	$(0.07)
Diluted	$0.02	$(0.07)
Weighted average number of common shares outstanding
Basic	152,076	151,351
Diluted	152,783	151,351

ContentsView on SEC.gov

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