ARRAY Technologies, Inc. Reports Financial Results for the Third Quarter 2025

Core Insights - ARRAY Technologies, Inc. reported a significant year-to-date revenue increase of 65% and volume growth of 74% as of the third quarter of 2025 [1][2] - The company achieved a revenue of $393.5 million for the third quarter, reflecting a year-over-year growth of 70% [3][7] - The acquisition of APA Solar is expected to enhance ARRAY's product offerings and profitability, contributing approximately $50 million in revenue for the full year 2025 [4][8] Financial Performance - The company recorded an Adjusted EBITDA of $72.2 million for the third quarter, marking its second highest quarter on record [3][7] - The gross margin for the third quarter was reported at 26.9%, with an adjusted gross margin of 28.1% [7][28] - Net income attributable to common shareholders was $18.4 million, translating to earnings of $0.12 per share [7][29] Guidance and Future Outlook - ARRAY updated its full-year 2025 revenue guidance to a range of $1.25 billion to $1.28 billion, including APA's contribution [4][8] - The company anticipates continued growth into 2026, driven by new product launches and strategic initiatives [4][8] - The guidance reflects benefits from the Inflation Reduction Act, particularly in advanced manufacturing production credits [6][8] Market Position and Strategy - ARRAY's strong bookings indicate growing trust and partnerships with key players in the solar industry, including developers and utilities [3][4] - The integration of APA Solar is seen as a pivotal moment for ARRAY, enhancing its competitive advantage and ability to meet evolving market needs [3][4] - The company emphasizes its commitment to operational reliability and performance, which are valued by its customer base [3][4]