Financial Performance - Revenue for 3Q 2025 was $393.5 million, including $16.9 million from APA, a 70% increase compared to 3Q 2024[18] - Net income for 3Q 2025 was $18.4 million, with an adjusted net income of $45.8 million, a 73% increase year-over-year[18] - Gross profit for 3Q 2025 was $105.7 million, representing a gross profit margin of 26.9%[18] - Adjusted EBITDA for 3Q 2025 was $72.2 million, a 55% increase year-over-year[18] - Adjusted gross profit for 3Q 2025 was $110.5 million, resulting in an adjusted gross margin of 28.1%[19, 20] Order Book and Business Update - The order book stands at $1.9 billion, with over 95% being domestic[20] - OmniTrack, SkyLink, and Hail XP now represent approximately 40% of the order book[20] Supply Chain - Less than 20% of a typical Bill of Materials (BOM) is currently exposed to tariffs, with expectations of less than 14% by year-end[35] Full Year Guidance - The company updated its full-year 2025 revenue guidance to $1.25 billion - $1.28 billion, including APA[53] - The adjusted gross margin guidance is 27% - 28%[53] - Adjusted EBITDA guidance is $185 million - $195 million[53]

Financial Performance - Revenue for 2Q25 was $362.2 million, a 42% increase compared to 2Q24 and a 20% increase compared to 1Q25[17, 45] - Gross profit for 2Q25 was $97.1 million with a gross margin of 26.8%[17, 47] - Adjusted EBITDA for 2Q25 was $63.6 million, representing a 15% year-over-year growth compared to 2Q24 and an adjusted EBITDA margin of 17.5%[17, 45, 47] - Adjusted EPS for 2Q25 was $0.25, a 26% increase year-over-year[45, 47] - The company generated $37.2 million in free cash flow during 2Q25[47] Strategic Initiatives - Array Technologies is acquiring APA Solar to expand its product offerings and addressable market, with an expected high-single-digit percentage accretion to Adjusted EPS before synergies[17, 23] - The company renewed its Revolving Credit Facility and issued $345 million in convertible notes while repurchasing $100 million of existing 2028 convertible notes[17] - Order book stands at $1.8 billion, with OmniTrack™ & SkyLink™ representing over 35% of the order book[17] Guidance - The company revised its full-year 2025 revenue guidance to $1.180 billion - $1.215 billion[58] - Adjusted EBITDA guidance is maintained at $185 million - $200 million[58]

Financial Highlights - Revenue for 1Q25 was $3024 million, a 97% increase compared to $1534 million in 1Q24 [21, 52, 61] - Adjusted Gross Profit for 1Q25 reached $801 million, with an Adjusted Gross Margin of 265% [21, 54] - The company's cash balance stands at $348 million, with available liquidity of $510 million including the Revolving Credit Facility (RCF) [21] - The order book is maintained at $20 billion, reflecting an 18% increase in contracting compared to 4Q24 [21, 24] - Adjusted Earnings Per Share (EPS) increased 119% over 1Q24 [60] Market Dynamics - Utility-scale solar trackers have a lower Levelized Cost of Energy (LCOE) than new natural gas-fired generation [28] - Solar and Solar + Battery accounted for 84% of new U S Electric generation in 2024 [28] - Additional electricity production required by 2035 is projected to increase by 50% [28] Supply Chain and Products - The company is now quoting 100% Domestic Content Trackers under Table 1 of the IRA, with orders received deliverable in 2025 [43] - SmarTrack installations have seen nearly 35x growth since 2023, surpassing 5 GW [48] Guidance - The company maintained its full-year 2025 guidance, projecting revenue between $105 billion and $115 billion [68] - The company projects Adjusted EBITDA between $180 million and $200 million [68]