Highest-materiality recent filing
Array Tech Q1 revenue $223.4M, record orderbook $2.4B, reaffirms FY guidance
Q1 revenue $223.4M, gross margin 28.2%, adjusted gross margin 30.7%.
FY2025 revenue $1,284.1M (+40% YoY); Q4 revenue $226.0M. Full-year volume growth of 35%.
Array upsizes revolver from $166M to $370M, extends maturity to Feb 2031
Revolving credit facility increased from $166M to $370M; maturity extended from Oct 2028 to Feb 2031.
Array Technologies Q3 revenue $393.5M (+70% YoY); updates FY2025 guidance to include APA acquisition
Q3 revenue $393.5M (up 70% YoY); GAAP net income $18.4M ($0.12 EPS); adjusted EPS $0.30.
Array Technologies completes acquisition of APA Solar for ~$159.9M cash plus deferred consideration
Cash consideration ~$159.9M net of adjustments; additional deferred consideration equal to 20% of purchase price payable over 2 years.
Array Tech Q2 adj EPS $0.25, revenue $362M; raises FY25 guidance, acquires APA Solar
Revenue $362.2M, up 20% sequentially; net income $28.5M ($0.19/shr); adj EBITDA $63.6M; adj EPS $0.25.
$345M aggregate principal of 2.875% convertible senior notes due 2031, upsized from $300M; net proceeds ~$334.1M.
Array Technologies prices upsized $300M convertible notes at 2.875% due 2031
$300M aggregate principal (plus $45M greenshoe); 2.875% coupon, semiannual, due July 1, 2031.
Offering $250M aggregate principal of convertible senior notes due 2031; initial purchasers option for additional $37.5M.
Array buys APA Solar for $210M; expands into engineered foundations, expects EPS accretion
Base purchase price $210M comprising $168M upfront cash and $42M deferred consideration payable in two installments.
Array Technologies Q1 2025 revenue $302.4M, adjusted EPS $0.13, beats guidance; maintains FY outlook
Revenue $302.4M, gross margin 25.3%, adjusted gross margin 26.5%.
Q4 2024 revenue $275.2M, adj. gross margin 29.8%, adj. EBITDA $45.2M, adj. EPS $0.16.
Array Technologies names H. Keith Jennings as CFO effective January 6, 2025
Jennings receives $500K base salary, 80% target bonus, and $500K equity grant (RSUs) on start.
Array Tech Q3 revenue $231.4M, net loss $155.4M on $162M goodwill impairment; adjusts FY24 guidance
Revenue $231.4M; adjusted gross margin 35.4%; adjusted EBITDA $46.7M.
Array Q2 rev $255.8M, adj EPS $0.20; cuts FY rev outlook to $900M-$1,000M
Revenue $255.8M, gross margin 33.6%, adjusted gross margin 35.0% including 45X benefits.
Array Q1: Record gross margin 38.3%, revenue $153.4M, $2.1B order book
Revenue $153.4M; net loss $11.3M ($0.07 diluted EPS); adjusted diluted EPS $0.06.
Array Tech Q4 rev $341.6M, adj EPS $0.21; FY adj EBITDA record $288M; FY24 rev guide $1.25-$1.4B
Q4 revenue $341.6M; net income $6M; adj EBITDA $48.2M; adj diluted EPS $0.21.
Paulo Almirante informed Array Technologies, Inc. (the “Company”) that he will not stand for re-election as a director of the Board of Directors of the Company (the “Board”) at the Company’s 2025 Annual Meeting of Stockholders expected to be held on or around May 20, 2025
On September 24, 2024, Tyson Hottinger, the Chief Legal Officer and Corporate Secretary of Array Technologies, Inc. (the “Company”), gave notice of his intention to resign from his positions as an officer and employee of the Company and its subsidiaries and affiliates effective October 31, 2024.
On June 4, 2024, Array Technologies, Inc. (the “Company”) and Kurt Wood, Chief Financial Officer of the Company (“CFO”), mutually determined that Mr. Wood would step down from his position as CFO, effective as of June 30, 2024.
On March 19, 2024, James Zhu, age 62, was appointed to the position of Chief Accounting Officer of Array Technologies, Inc. (the “Company” or “Array”) by the Company’s Board of Directors (the “Board”).
Max materiality 0.85 · Median 0.72 · Most common event earnings