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Equiscale · Syntellia LLC
Array Technologies, Inc. engages in the manufacture and sale of solar tracking technology products in the United States, Spain, Brazil, Australia, and internationally. It operates through two segments, Array Legacy Operations and STI Operations. The company's products portfolio includes DuraTrack HZ V3, a single axis tracker; Array STI H250, a dual-row tracker system; Array OmniTrack; Array SkyLink, a photovoltaic-powered control tracker system; and SmarTrack, a software and control-based product. Array Technologies, Inc. was incorporated in 1987 and is headquartered in Albuquerque, New Mexico.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.3B | $45M | $-52M | $80M | 25.3% | 40.2% | -78.3% |
| 2024 | $916M | $-163M | $-240M | $135M | 203.6% | -41.9% | -275.2% |
| 2023 | $1.6B | $276M | $137M | $215M | 52.9% | -3.7% | 2996.6% |
| 2022 | $1.6B | $133M | $4M | $131M | 3.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,637.55 | 1,576.55 | 915.81 | 1,284.14 |
| Operating Revenue | - | 1,637.55 | 1,576.55 | 915.81 | 1,284.14 |
| Cost Of Revenue | - | 1,424.83 | 1,161 | 618.13 | 985.59 |
| Gross Profit | - | 212.72 | 415.55 | 297.68 | 298.55 |
| Operating Expense | - | 235.36 | 198.46 | 196.65 | 224.81 |
| Selling General And Administration | - | 150.78 | 159.54 | 160.57 | 198.61 |
| Total Expenses | - | 1,660.19 | 1,359.46 | 814.78 | 1,210.40 |
| Operating Income | - | -22.64 | 217.09 | 101.02 | 73.74 |
| Total Operating Income As Reported | - | -18.13 | 214.12 | -227 | -29 |
| EBITDA | - | 132.80 | 276.21 | -162.97 | 45.40 |
| Normalized EBITDA | - | 84.39 | 279.23 | 169.57 | 131.89 |
| EBIT | - | 31.74 | 221.39 | -215.75 | -1.89 |
| Interest Income | - | 3.18 | 8.33 | 16.78 | 11.85 |
| Interest Expense | - | 36.69 | 44.23 | 34.83 | 27.33 |
| Net Interest Income | - | -33.51 | -35.90 | -18.05 | -15.48 |
| Other Non Operating Income Expenses | - | 2.79 | -1.01 | -1.01 | -0.99 |
| Other Income Expense | - | 51.20 | -4.03 | -333.55 | -87.48 |
| Interest Income Non Operating | - | 3.18 | 8.33 | 16.78 | 11.85 |
| Interest Expense Non Operating | - | 36.69 | 44.23 | 34.83 | 27.33 |
| Net Non Operating Interest Income Expense | - | -33.51 | -35.90 | -18.05 | -15.48 |
| Pretax Income | - | -4.95 | 177.16 | -250.58 | -29.22 |
| Tax Provision | - | -9.38 | 39.92 | -10.18 | 23.02 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 10.17 | -0.68 | -13.63 | -18.16 |
| Net Income Continuous Operations | - | 4.43 | 137.24 | -240.39 | -52.24 |
| Net Income From Continuing And Discontinued Operation | - | 4.43 | 137.24 | -240.39 | -52.24 |
| Net Income From Continuing Operation Net Minority Interest | - | 4.43 | 137.24 | -240.39 | -52.24 |
| Net Income | - | 4.43 | 137.24 | -240.39 | -52.24 |
| Net Income Common Stockholders | - | -43.62 | 85.55 | -296.06 | -112.03 |
| Net Income Including Noncontrolling Interests | - | 4.43 | 137.24 | -240.39 | -52.24 |
| Normalized Income | - | -33.81 | 139.58 | 78.52 | 16.09 |
| Diluted NI Availto Com Stockholders | - | -43.62 | 85.55 | -296.06 | -112.03 |
| Basic Average Shares | - | 149.82 | 150.94 | 151.75 | 152.54 |
| Diluted Average Shares | - | 149.82 | 152.02 | 151.75 | 152.54 |
| Reconciled Depreciation | - | 101.06 | 54.83 | 52.78 | 47.29 |
| Reconciled Cost Of Revenue | - | 1,408.35 | 1,145.10 | 601.44 | 964.50 |
| Total Unusual Items | - | 48.41 | -3.02 | -332.54 | -86.49 |
| Total Unusual Items Excluding Goodwill | - | 48.41 | -3.02 | -332.54 | -86.49 |
| Preferred Stock Dividends | - | 48.05 | 51.69 | 55.67 | 59.80 |
| Special Income Charges | - | 47.26 | -2.96 | -328.03 | -88.53 |
| Other Special Charges | - | -42.75 | - | - | -14.21 |
| Impairment Of Capital Assets | - | 0 | 0 | 327.90 | 102.56 |
| Restructuring And Mergern Acquisition | - | -4.51 | 2.96 | 0.12 | 0.18 |
| Gain On Sale Of Security | - | 1.16 | -0.05 | -4.51 | 2.04 |
| Depreciation Amortization Depletion Income Statement | - | 84.58 | 38.93 | 36.09 | 26.20 |
| Depreciation And Amortization In Income Statement | - | 84.58 | 38.93 | 36.09 | 26.20 |
| General And Administrative Expense | - | 150.78 | 159.54 | 160.57 | 198.61 |
| Other Gand A | - | 150.78 | 159.54 | 160.57 | 198.61 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Array Technologies, Inc.this co. | ARRY | $1.4B | - | 5.37 | -43.0% | 42.29 |
| Alpha and Omega Semiconductor Limited | AOSL | $1.5B | -15.51 | 1.83 | -11.8% | 37.64 |
| EVERTEC, Inc. | EVTC | $1.4B | 9.90 | 2.25 | 22.8% | 6.46 |
| ADTRAN Holdings, Inc. | ADTN | $1.4B | -30.64 | 9.59 | -31.3% | 19.20 |
| Rackspace Technology, Inc. | RXT | $1.4B |
| - |
| - |
| - |
| - |
| - |
| - |
| -6.17 |
| -1.14 |
| 18.5% |
| 18.61 |
| CEVA, Inc. | CEVA | $1.4B | -129.84 | 4.11 | -3.2% | -191.72 |
| Progress Software Corporation | PRGS | $1.3B | 18.15 | 2.78 | 15.3% | 8.75 |
| Blackbaud, Inc. | BLKB | $1.3B | 11.33 | 15.32 | 135.2% | 8.32 |
| VIA | VIA | $1.3B | -13.50 | 2.07 | -15.4% | -12.17 |
| Peer Median | - | -9.84 | 2.51 | 6.1% | 8.53 | |
Historically, May has averaged the highest return (+17.7%); Feb the lowest (-13.4%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +22.8%Positive MonthJan 2026: +22.83% | -33.1%Negative MonthFeb 2026: -33.07% | -4.6%Negative MonthMar 2026: -4.62% | +7.1%Positive MonthApr 2026: +7.05% | +17.3%Positive MonthMay 2026: +17.31% | -18.4%Negative MonthJun 2026: -18.39% | -29.6%Negative MonthJul 2026: -29.55% | -5.7%*Negative MonthAug 2026: -5.75% | — | — | — | — |
| 2025 | +21.4%Positive MonthJan 2025: +21.36% | -28.0%Negative MonthFeb 2025: -27.97% | -7.8%Negative MonthMar 2025: -7.77% | -1.8%Neutral MonthApr 2025: -1.85% | +38.1%Positive MonthMay 2025: +38.08% | -10.6%Negative MonthJun 2025: -10.61% | +10.2%Positive MonthJul 2025: +10.17% | +38.6%Positive MonthAug 2025: +38.62% | -9.5%Negative MonthSep 2025: -9.54% | +6.3%Positive MonthOct 2025: +6.26% | -13.3%Negative MonthNov 2025: -13.28% | +22.8%Positive MonthDec 2025: +22.77% |
| 2024 | -21.2%Negative MonthJan 2024: -21.19% | +3.0%Positive MonthFeb 2024: +3.02% | +9.3%Positive MonthMar 2024: +9.31% | -17.2%Negative MonthApr 2024: -17.24% | +14.9%Positive MonthMay 2024: +14.91% | -27.6%Negative MonthJun 2024: -27.64% | +2.5%Positive MonthJul 2024: +2.53% | -36.2%Negative MonthAug 2024: -36.22% | -1.6%Neutral MonthSep 2024: -1.64% | -1.1%Neutral MonthOct 2024: -1.06% | +2.8%Positive MonthNov 2024: +2.76% | -10.0%Negative MonthDec 2024: -9.99% |
| 2023 | +15.0%Positive MonthJan 2023: +15.00% | -15.7%Negative MonthFeb 2023: -15.70% | +16.8%Positive MonthMar 2023: +16.76% | -6.5%Negative MonthApr 2023: -6.54% | +8.4%Positive MonthMay 2023: +8.41% | +1.9%Neutral MonthJun 2023: +1.94% | -15.7%Negative MonthJul 2023: -15.71% | +30.6%Positive MonthAug 2023: +30.55% | -10.8%Negative MonthSep 2023: -10.78% | -21.9%Negative MonthOct 2023: -21.90% | -10.7%Negative MonthNov 2023: -10.73% | +8.6%Positive MonthDec 2023: +8.60% |
| 2022 | -32.8%Negative MonthJan 2022: -32.82% | +6.6%Positive MonthFeb 2022: +6.64% | +0.3%Neutral MonthMar 2022: +0.27% | -42.1%Negative MonthApr 2022: -42.06% | +69.7%Positive MonthMay 2022: +69.68% | -0.6%Neutral MonthJun 2022: -0.63% | +53.0%Positive MonthJul 2022: +53.04% | +24.0%Positive MonthAug 2022: +24.04% | -20.7%Negative MonthSep 2022: -20.67% | +9.2%Positive MonthOct 2022: +9.17% | +15.7%Positive MonthNov 2022: +15.69% | -7.7%Negative MonthDec 2022: -7.69% |
| 2021 | — | — | — | — | -42.1%Negative MonthMay 2021: -42.12% | -4.3%Negative MonthJun 2021: -4.29% | -13.2%Negative MonthJul 2021: -13.21% | +40.8%Positive MonthAug 2021: +40.84% | -2.9%Negative MonthSep 2021: -2.88% | +15.3%Positive MonthOct 2021: +15.28% | -15.6%Negative MonthNov 2021: -15.62% | -12.9%Negative MonthDec 2021: -12.91% |
| Avg±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation — the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position — all Januaries together, all Februaries together, and so on — to show whether a given month has leaned positive or negative historically. ‘Simple’ counts each month as +1 or −1. ‘Weighted’ gives larger moves more influence: +2 above +10%, −2 below −10%. With only 6 years of history for this asset, each month’s score reflects a small number of observations — read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the asset’s full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each day’s closing price by the price on January 1st of that year (or the asset’s first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen — at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in “Average from”, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
