AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (six months ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Revenue declined 15% YoY to $565.5M driven by 83% drop in STI Operations, while Array Legacy Operations grew 6% and gross margin improved to 28.8% despite volume headwinds.
Biggest Revenue Drivers
Array Legacy Operations$537.7M+6% YoY
Increased 15% in average selling prices, partially offset by 7% reduction in volume; includes APA contributions since August 2025 acquisition.
STI Operations$27.8M-83% YoY
Volume decreased approximately 82% and average selling prices declined 4%.
Biggest Revenue Drivers
Total revenue: $565.5M-15% YoY
Array Legacy Operations$537.7M+6% YoY
Increased 15% in average selling prices, partially offset by 7% reduction in volume; includes APA contributions since August 2025 acquisition.
STI Operations$27.8M-83% YoY
Volume decreased approximately 82% and average selling prices declined 4%.
Largest Expense Items
General and administrative$104.7M+18% YoY
Increase of $16.9M from personnel-related expenses and $2.8M service-related expenses.
Cost of product and service revenue$391.6M-19% YoY
Decreased in line with lower volume; includes cost reductions from productivity initiatives.
Depreciation and amortization$16.2M+47% YoY
Increase primarily from $4.7M of incremental depreciation and amortization contributed by APA acquisition.
Margins: Consolidated gross margin improved to 28.8% for six months ended June 30, 2026 from 26.1% in prior year, driven by Array Legacy Operations' 30.5% margin reflecting higher average selling prices despite higher cost per watt. STI Operations margin declined significantly to (4.1)% from 15.0% due to volume collapse and cost pressures.
Watch Items from the Filing
STI Operations revenue collapsed 83% YoY to $27.8M (6% of total), with gross margin turning negative at (4.1)%. Volume down 82% and pricing down 4%, indicating severe operational challenges in international segment.
Proposed AWM acquisition ($153M base price plus $50M earn-out and deferred payments) pending regulatory approval, expected Q3 2026 close; adds wire management product line to portfolio.
OBBB legislation eliminating solar ITC after December 31, 2027 (unless construction begins by July 4, 2026) and new foreign entity limitations on credits could materially impact customer demand and project timing.
Remaining performance obligations of $413.7M as of June 30, 2026, with 99% expected to be recognized within next 12 months, indicating strong near-term revenue visibility.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Officers, directors and 10% owners with a Form 4 filed in the last 24 months, most recent first. From SEC EDGAR.
Manning NeilPresident & COOShares withheld for tax or exercise price · Sep 24, 2026
Collins Terrance LChief Human Resources OfficerShares withheld for tax or exercise price · Sep 24, 2026
Zhu JamesChief Accounting OfficerShares withheld for tax or exercise price · Sep 24, 2026
Hostetler Kevin G.Chief Executive OfficerShares withheld for tax or exercise price · Sep 24, 2026
Murff CarolyneDirectorGrant or award · May 19, 2026
Alstead TroyDirectorGrant or award · May 19, 2026
Ashford Orlando DDirectorGrant or award · May 19, 2026
Cohen Emily RachelDirectorGrant or award · May 19, 2026
Forth John BradfordDirectorGrant or award · May 19, 2026
Iyengar JayanthiDirectorGrant or award · May 19, 2026
Congress trading in ARRY
2 transactions in ARRY reported by 1 member of Congress under the STOCK Act, most recent trade Apr 10, 2023. Reported transactions, not recommendations.
About Array Technologies, Inc. (ARRY): stock profile, AI score and financials
Array Technologies, Inc. (ARRY) stock profile, AI quality score, and SEC EDGAR financial data, a Consumer Discretionary sector company. 13F Pro's AI-powered ranking engine scores ARRY at 44.3/100 on a composite quality score built from its SEC filings, placing it at rank #1,932 of 2,925 stocks — the bottom half of the AI-ranked universe. Areas of concern include balance sheet strength (21.9) and profitability (29.7), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), Array Technologies, Inc. reports quarterly revenue of $342.1M, net income of $24.3M, an operating margin of 10.2%. Top institutional holders of ARRY by reported 13-F value include BlackRock, LINDEN ADVISORS, UBS Group AG, based on the most recent SEC filings. ARRY trades on the Nasdaq exchange and files with the SEC under CIK 1820721. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ARRY daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Array Technologies, Inc. directly from SEC EDGAR.