February 25, 2026 4Q and FY25 EARNINGS PRESENTATION 4Q25 EARNNINGS PRESENTATION 0 4Q25 EARNNINGS PRESENTATION DISCLAIMER FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, technology or product developments, financing and investment ...

Core Insights - ARRAY Technologies, Inc. achieved a 40% full-year revenue growth, with a record order book of $2.2 billion, and is guiding for 2026 revenue between $1.4 billion and $1.5 billion [1][2][5] Financial Highlights - For Q4 2025, revenue was $226 million, and for the full year 2025, revenue reached $1,284.1 million, reflecting a significant increase from $915.8 million in 2024 [1][27] - Gross margin for Q4 2025 was 8.6%, while the full-year gross margin was 23.2% [1][27] - Adjusted EBITDA for Q4 2025 was $11.2 million, with a full-year adjusted EBITDA of $187.6 million [1][27] - The net loss to common shareholders for Q4 2025 was $161.2 million, compared to a loss of $112 million for the full year [1][27] Business Developments - The company reported a 35% volume growth for the full year 2025, surpassing broader industry trends, indicating strong demand for its differentiated technology [2] - ARRAY is focusing on international expansion of its DuraTrack technology and plans to launch multiple new products in 2026, including an integrated tracker and foundation solution [2][3] - The company has made strategic investments in enhancing its commercial organization and customer engagement, which contributed to its strong performance [2] Future Guidance - For 2026, ARRAY expects approximately $200 million in revenue for Q1, with a projected adjusted EBITDA range of $200 million to $230 million [3][5] - The company anticipates a revenue split of 40% in the first half and 60% in the second half of 2026, influenced by regulatory uncertainties [3]

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]