---
schema_version: "secwatch.filing_event.v1"
accession: "0001820721-23-000023"
form_type: "8-K"
ticker: "ARRY"
cik: "0001820721"
company_name: "Array Technologies, Inc."
filed_at: "2023-03-02T23:59:59+00:00"
generated_at: "2026-06-18T15:49:43.637651+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Array Technologies restates prior quarterly financials; reports preliminary FY2022 revenue $1.62-1.64B

## Summary
- Audit Committee concludes Q1-Q3 2022 financials should not be relied upon due to STI acquisition accounting errors.
- Preliminary FY2022 revenue $1,620-1,640M; net loss $40-42M; adjusted EBITDA $126-129M.
- FY2023 guidance: revenue $1,800-1,950M; adjusted EBITDA $240-265M; adjusted EPS $0.75-0.85.
- Orderbook at Dec 31, 2022: $1.9B; free cashflow expected $135-137M, above prior $100M forecast.
- Form 10-K to be filed within 15-day grace period; errors are non-cash, no impact on revenue or gross margin.

## SEC filing metadata
- accession: 0001820721-23-000023
- form_type: 8-K
- ticker: ARRY
- cik: 0001820721
- company_name: Array Technologies, Inc.
- filed_at: 2023-03-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820721/000182072123000023/0001820721-23-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820721/000182072123000023/arry-20230301.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001820721-23-000023
- JSON: https://secwatch.observer/filing/0001820721-23-000023.json
- Plain text: https://secwatch.observer/filing/0001820721-23-000023.txt

## Key facts
- Auditor Changes
  Array Technologies, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: The errors in the unaudited condensed consolidated financial statements for the Non-Reliance Periods noted above will be corrected in restated financial statements for the Non-Reliance Periods in the Form 10-K for the year ended December 31, 2022 (the “Form 10-K”). The Company is diligently pursuing completion of the restatement and intends to file the Form 10-K no later than the fifteenth calendar day after its original due date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820721/000182072123000023/0001820721-23-000023-index.htm
- Earnings Releases
  Array Technologies, Inc. reported full year ended December 31, 2022 results: revenue $1,620 million to $1,640 million, net income $40 million to $42 million net loss, EPS $0.27 to $0.28 diluted loss per share.
  - Period: full year ended December 31, 2022
  - Revenue: $1,620 million to $1,640 million
  - Net income: $40 million to $42 million net loss
  - EPS: $0.27 to $0.28 diluted loss per share
  - Result: preliminary results
  source text: Revenues expected in a range of $1,620 million to $1,640 million • Gross margin expected in the range of 13.5% to 14.0% • Net loss expected in the range of $40 million to $42 million • Diluted Loss Per Share expected in the range of $0.27 to $0.28
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820721/000182072123000023/0001820721-23-000023-index.htm
- Earnings Releases
  Array Technologies, Inc. reported year ending December 31, 2023 results: revenue $1,800 million to $1,950 million, EPS $0.75 to $0.85 adjusted net income per share. Guidance initiated.
  - Period: year ending December 31, 2023
  - Revenue: $1,800 million to $1,950 million
  - EPS: $0.75 to $0.85 adjusted net income per share
  - Guidance: initiated
  - Result: guidance update
  source text: Revenue to be in the range of $1,800 million to $1,950 million • Adjusted EBITDA (4) to be in the range of $240 million to $265 million • Adjusted net income per share (4) to be in the range of $0.75 to $0.85
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820721/000182072123000023/0001820721-23-000023-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.