Array Technologies, Inc. (ARRY)

From the record

Array Technologies, Inc.'s filings since 2020 show 9 warning events of 4 kinds: a notice about its exchange listing (8-K item 3.01, the latest 2022-03-04); a warning not to rely on past financial statements (8-K item 4.02, 3 times, the latest 2023-03-02); an auditor change (8-K item 4.01, 2 times, the latest 2023-04-10); a late-report notice (Form NT 10-K or NT 10-Q, 3 times, the latest 2023-03-15) (its current reports).

From the record

Array Technologies, Inc.'s 8 filed years say what it did: revenue went from $291 million in fiscal 2018 to $1.3 billion in fiscal 2025, up 23.6% a year; it rose in 4 of 7 years; the deepest fall was 44% from fiscal 2022 to fiscal 2024; net income was positive in 4 of 8 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, Array Technologies, Inc.'s diluted share count grew about 0.6% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Array Technologies, Inc.'s shareholders' equity was below zero, so the profit on it is not read, and gross profitability: its products earned about 21 cents per dollar of everything the company owns. Leverage: it owed about 114 cents per dollar of assets, and net share issuance: its share count grew 0.5% over the year (the filed statements).

From the record

Array Technologies, Inc.'s standing among 97 graded names in its industry family: revenue of $1.3 billion in fiscal 2025 ranks in the top 36% by size; a net margin of -4.1% ranks in the bottom 40%; revenue growth of -7.8% a year over the last 3 filed years ranks in the bottom 26% (its annual reports).

From the record

Array Technologies, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Hostetler, Kevin G. (Chief Executive Officer, as filed), filing under that title since 2022-04-26, 4.6 years (bottom 48% of its family); the 14 officers and directors filing in the last fifteen months have been on the record a median of 4.1 years (bottom 16%); 10 officer or director changes were reported on Form 8-K since 2023-11-13, against the 14 people in charge now (bottom 31%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Array Technologies, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $246 million against debt of $659 million leaves -28.4% of its assets as net cash, bottom 7% of its family; cash from operations less capital spending is 6.2% of revenue (top 47%); a gross margin of 23.2% (bottom 26%); research spending of 0.8% of revenue (bottom 2%) (its annual report).

From the record

Array Technologies, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -7.8% a year over the last three filed years against 23.6% over all 8, slowing (bottom 9% of its family); the newest year grew 40.3% (top 19%); research spending grew 33.1% a year (top 8%); capital spending grew 27.4% a year (top 20%) (its annual reports). Array Technologies, Inc. reported 2 lines of business in fiscal 2025: Array Legacy Operations at $1.1 billion (83%), STI Operations at $214 million (17%); 1 of 2 grew against the year before (its annual report).

From the record

Array Technologies, Inc.'s newest year against its own record: revenue of $1.3 billion in fiscal 2025 came in 87.5% above the $685 million its prior three years' pace pointed to (top 16% of its family); net income of $52 million against a prior three-year average of $33 million (bottom 30%); a net margin of -4.1% against -5.8% before (top 40%) (its annual reports).