Array Technologies Inc
NASDAQ:ARRY
Decide at what price you'd be comfortable buying and we'll help you stay ready.
|
Array Technologies Inc
NASDAQ:ARRY
|
US |
|
Zimplats Holdings Ltd
ASX:ZIM
|
GG |
|
Nanhua Futures Co Ltd
SSE:603093
|
CN |
Array Technologies Inc
Array Technologies, Inc. manufactures ground-mounting systems used in solar energy projects. The company is headquartered in Albuquerque, New Mexico and currently employs 471 full-time employees. The company went IPO on 2020-10-15. The firm's principal product is an integrated system of steel supports, electric motors, gearboxes, and electronic controllers referred to as a single-axis tracker. Its trackers use a design that allows one motor to drive multiple rows of solar panels through articulated driveline joints. The firm sells its products to engineering, procurement and construction firms (EPCs) that build solar energy projects and to solar developers, independent power producers and utilities. Its DuraTrack HZ v3 is a single axis tracker and incorporates features, such as single bolt per module mounting system. The firm's SmarTrack software uses site-specific historical weather and energy production data, in combination with machine learning algorithms, to identify the position for a solar array in real time to enhance its energy production.
Array Technologies, Inc. manufactures ground-mounting systems used in solar energy projects. The company is headquartered in Albuquerque, New Mexico and currently employs 471 full-time employees. The company went IPO on 2020-10-15. The firm's principal product is an integrated system of steel supports, electric motors, gearboxes, and electronic controllers referred to as a single-axis tracker. Its trackers use a design that allows one motor to drive multiple rows of solar panels through articulated driveline joints. The firm sells its products to engineering, procurement and construction firms (EPCs) that build solar energy projects and to solar developers, independent power producers and utilities. Its DuraTrack HZ v3 is a single axis tracker and incorporates features, such as single bolt per module mounting system. The firm's SmarTrack software uses site-specific historical weather and energy production data, in combination with machine learning algorithms, to identify the position for a solar array in real time to enhance its energy production.
Revenue Growth: Array delivered full-year 2025 revenue of nearly $1.3 billion, up 40% year-over-year, and exceeded the high end of its revenue guidance.
Record Order Book: The company closed 2025 with a record $2.2 billion order book and a book-to-bill ratio of 2x for both Array and APA, signaling strong customer demand and market share gains.
Profitability: Adjusted gross margin was 27% for 2025, and adjusted EBITDA grew 8% to $188 million, though margins declined due to loss of some prior year benefits and commodity/tariff pressures.
Strong Tier 1 Customer Mix: Over 50% of the order book is now direct with Tier 1 customers, and 95% of the order book is domestic, improving order quality and reducing volatility.
APA Integration: The APA acquisition contributed $50 million in 2025 revenue and is expected to be accretive to gross margin and EBITDA in 2026 as synergies take effect.
2026 Guidance: For 2026, revenue is expected between $1.4 billion and $1.5 billion, with adjusted gross margin of 26% to 27% and adjusted EBITDA of $200 million to $230 million.
International Expansion: Array is selectively growing in international markets, prioritizing regions where its technological differentiation is valued, and rolling out new global product offerings.
Seasonality and Pipeline: Management expects a 40–60 revenue split between first and second half of 2026, with Q1 being the slowest quarter, followed by sequential acceleration.
