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Array Technologies (ARRY) investor relations material
Array Technologies Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Q3 2025 revenue reached $393.5 million, up 70% year-over-year, driven by strong volume growth, new product adoption, and the APA Solar acquisition, which contributed $16.9 million.
Net income for Q3 2025 was $33.5 million, reversing a prior-year loss, with adjusted net income at $45.8 million, up 73% year-over-year.
Adjusted EBITDA for Q3 2025 was $72.2 million (18.3% margin), up 55% year-over-year.
The order book stands at $1.9 billion, with over 95% domestic content and nearly 40% from new products.
Integration of APA Solar is progressing, expanding product offerings and procurement synergies.
Financial highlights
Q3 2025 gross profit was $105.7 million (26.9% margin); adjusted gross profit was $111 million (28.1% margin), up 35% year-over-year.
Adjusted net income per diluted share was $0.30; reported EPS was $0.12.
Free cash flow for Q3 2025 was $22 million; year-to-date $44 million.
Ended Q3 with $221.5 million in cash and $365 million in total liquidity; net debt leverage ratio at 2.1x trailing twelve months adjusted EBITDA.
Debt-to-equity ratio increased due to new convertible notes; long-term debt at $658.4 million.
Outlook and guidance
Full-year 2025 revenue guidance raised to $1.25–$1.28 billion, including approximately $50 million from APA.
Adjusted gross margin expected at 27–28%; adjusted EBITDA $185–$195 million; adjusted EPS $0.64–$0.70.
Free cash flow forecasted at ~$100 million, slightly lower due to acquisition expenses and timing of collections.
Guidance includes benefits from the Inflation Reduction Act Section 45X production credit.
Strong order book and pipeline position the company for continued growth into 2026.
APA margin accretion timeline?
Multi-gigawatt win: key value drivers?
International business outlook given order book rules?
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Next Array Technologies earnings date
Q4 202511 Mar, 2026
Next Array Technologies earnings date
Q4 202511 Mar, 2026
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Frequently asked questions
Array Technologies, Inc. manufactures and supplies solar tracking systems and related products for commercial and utility-scale power plants to drive down the cost of solar energy. The company manufactures and supplies commercial dual-axis trackers that optimize the performance of solar photovoltaics (PV) modules by moving with the sun throughout the day. It also provides system services that include site lay-out and plant design, project management, engineering, procurement, construction management, training and commissioning, maintenance and operations, warranty care, and parts supply services for dual-axis technology. In addition, the company offers a range of custom lifecycle services for individual facilities; and automated systems to monitor PV performance. The company is based in the U.S., with additional offices in Valencia/Alicante/Madrid Spain; and Frankfurt/Berlin Germany.
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