Array Technologies, Inc. (ARRY) Income Statement
ARRY 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsARRY revenue and net income
Where ARRY's revenue goes
2025Each bar shows an amount and its share of revenue. ARRY kept −4.1% of revenue as net income.
ARRY profit margins
ARRY growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +40.2% | −7.8% | +8.0% | +37.8% |
| Gross profit | +0.3% | +12.0% | +8.0% | +44.5% |
| Operating income | — | — | −5.0% | +14.2% |
| Net income | — | — | — | — |
| EPS (diluted) | −13.6% | +18.1% | +10.5% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ARRY quarterly EPS vs estimates
Array Technologies beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.07).
ARRY income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.28B | $915.8M | $1.58B | $1.64B | $853.3M | $872.7M | $647.9M | $290.8M | $150.9M | $137.9M |
| Cost of revenue | $985.6M | $618.1M | $1.16B | $1.42B | $785.0M | $669.9M | $497.1M | $279.2M | $35.4M | $23.2M |
| Gross profit | $298.6M | $297.7M | $415.6M | $212.7M | $68.3M | $202.8M | $150.8M | $11.6M | $115.5M | $114.7M |
| Research & development | $18.7M | — | — | $26.4M | — | — | — | $185.8M | $178.2M | $160.7M |
| Sales, general & admin | $198.6M | $160.6M | $159.5M | $150.8M | $81.0M | $55.6M | $41.2M | $46.9M | $39.3M | $36.3M |
| Total operating expenses | $224.8M | $524.7M | $201.4M | $230.9M | $93.0M | $107.6M | $67.4M | $73.6M | $252.9M | $220.1M |
| Operating income | $73.7M | −$227.0M | $214.1M | −$18.1M | −$24.7M | $95.2M | $83.4M | −$61.2M | −$104.5M | −$82.0M |
| Interest income | $11.9M | $16.8M | $8.3M | $3.2M | $209,000 | — | — | — | — | — |
| Interest expense | $27.3M | $34.8M | $44.2M | $36.7M | $35.7M | $15.1M | $18.8M | $19.0M | $12.3M | $10.9M |
| Income before taxes | −$29.2M | −$250.6M | $177.2M | −$5.0M | −$61.1M | $77.8M | $64.6M | −$80.7M | −$116.8M | −$92.8M |
| Income taxes | $23.0M | −$10.2M | $39.9M | −$9.4M | −$10.7M | $18.7M | $24.8M | −$19.9M | $12.3M | $10.9M |
| Net income | −$52.2M | −$240.4M | $137.2M | $4.4M | −$50.4M | $59.1M | $39.7M | −$60.8M | −$129.1M | −$103.7M |
| EBITDA | $45.4M | −$163.0M | $276.2M | $132.8M | $509,000 | $149.1M | $110.7M | −$33.2M | −$94.9M | −$74.1M |
| EPS (diluted) | $0.51 | $0.59 | $1.14 | $0.31 | $0.13 | $0.31 | $0.33 | −$0.28 | −$0.69 | −$0.66 |
| Gross margin | 23.2% | 32.5% | 26.4% | 13.0% | 8.0% | 23.2% | 23.3% | 4.0% | 76.5% | 83.2% |
| Operating margin | 5.7% | −24.8% | 13.6% | −1.1% | −2.9% | 10.9% | 12.9% | −21.0% | −69.3% | −59.4% |
| Net margin | −4.1% | −26.2% | 8.7% | 0.3% | −5.9% | 6.8% | 6.1% | −20.9% | −85.6% | −75.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $342.1M | $223.4M | $226.0M | $393.5M | $362.2M | $302.4M | $275.2M | $231.4M | $255.8M | $153.4M | $341.6M | $350.4M |
| Cost of revenue | $242.5M | $160.4M | $206.7M | $287.8M | $265.1M | $225.9M | $196.9M | $153.1M | $169.8M | $98.3M | $257.4M | $263.1M |
| Gross profit | $99.6M | $63.0M | $19.3M | $105.7M | $97.1M | $76.4M | $78.3M | $78.3M | $86.0M | $55.1M | $84.2M | $87.4M |
| Research & development | — | — | $5.0M | — | — | $3.6M | $31.6M | — | — | $3.6M | $31.3M | — |
| Sales, general & admin | $54.3M | $50.4M | $57.5M | $52.2M | $45.0M | $43.9M | $45.7M | $40.1M | $37.0M | $37.8M | $43.7M | $37.4M |
| Total operating expenses | $64.8M | $58.5M | $65.7M | $59.2M | $50.6M | $49.3M | $220.7M | $211.0M | $46.4M | $46.7M | $54.0M | $47.2M |
| Operating income | $34.8M | $4.5M | −$46.4M | $46.5M | $46.5M | $27.1M | −$142.3M | −$132.7M | $39.6M | $8.4M | $30.2M | $40.2M |
| Interest income | $2.4M | $2.4M | $1.8M | $3.0M | $3.8M | $3.3M | $4.1M | $4.2M | $4.8M | $3.7M | $2.2M | $3.4M |
| Interest expense | $5.8M | $5.6M | $5.5M | $5.0M | $8.8M | $8.0M | $9.0M | $8.3M | $8.6M | $8.9M | $8.9M | $13.1M |
| Income before taxes | $31.7M | $4.1M | −$152.8M | $43.4M | $56.9M | $23.3M | −$150.0M | −$137.5M | $33.5M | $3.5M | $23.5M | $30.3M |
| Income taxes | $7.4M | $2.1M | −$7.1M | $9.9M | $13.6M | $6.5M | −$23.1M | $3.9M | $7.8M | $1.3M | $409,000 | $7.2M |
| Net income | $24.3M | $2.0M | −$145.7M | $33.5M | $43.3M | $16.7M | −$126.9M | −$141.4M | $25.7M | $2.2M | $23.1M | $23.1M |
| EBITDA | $50.1M | $25.1M | −$131.7M | $60.7M | $75.5M | $40.9M | −$128.2M | −$136.9M | $55.1M | $26.2M | $45.9M | $56.9M |
| EPS (diluted) | $0.22 | $0.06 | −$0.01 | $0.27 | $0.23 | $0.02 | $0.16 | $0.17 | $0.20 | $0.06 | $0.21 | $0.21 |
| Gross margin | 29.1% | 28.2% | 8.6% | 26.9% | 26.8% | 25.3% | 28.5% | 33.8% | 33.6% | 35.9% | 24.7% | 24.9% |
| Operating margin | 10.2% | 2.0% | −20.5% | 11.8% | 12.8% | 9.0% | −51.7% | −57.3% | 15.5% | 5.5% | 8.8% | 11.5% |
| Net margin | 7.1% | 0.9% | −64.5% | 8.5% | 11.9% | 5.5% | −46.1% | −61.1% | 10.0% | 1.4% | 6.8% | 6.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ARRY's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ARRY financial results
In fiscal year 2025 (ended December 31, 2025), Array Technologies reported revenue of $1.3 billion, up 40.2% from the year before. It had a net loss of $52.2 million, a net profit margin of −4.1%. Diluted earnings per share came to $0.51. Over five years revenue grew at an average rate of 8.0% a year.
See the ARRY stock overview for the latest quote and news, or the ARRY chart for price history and technical indicators.
ARRY income statement FAQ
What is Array Technologies's annual revenue?
Array Technologies reported total revenue of $1.3 billion for fiscal year 2025, which ended on December 31, 2025. That was up 40.2% from $915.8 million the previous year.
Is Array Technologies profitable?
No. Array Technologies reported a net loss of $52.2 million in fiscal 2025, a net profit margin of −4.1%; its operating margin was 5.7%.
What is Array Technologies's gross margin?
Array Technologies's gross margin was 23.2% in fiscal 2025: for every $100 of revenue, Array Technologies kept $23 after the direct cost of its products and services.
How much does Array Technologies spend on research and development?
Array Technologies spent $18.7 million on research and development in fiscal 2025, 1.5% of revenue.
How fast is Array Technologies growing?
Revenue grew 8.0% a year on average over the last five fiscal years, from $872.7 million to $1.3 billion.
What are Array Technologies's earnings per share?
Array Technologies earned $0.51 per diluted share in fiscal 2025, compared with $0.59 a year earlier.
When will Array Technologies report its next earnings?
Array Technologies is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Array Technologies's fiscal year end?
Array Technologies's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.