Array Technologies Inc
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 8, 2024
ARRY$4.73-8.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations(unaudited)
(in thousands, except per share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | $255,766 | $507,725 | $409,169 | $884,498 |
| Cost of revenue | ||||
| Cost of product and service revenue | 166,173 | 357,683 | 260,847 | 633,277 |
| Amortization of developed technology | 3,640 | 3,640 | 7,279 | 7,279 |
| Total cost of revenue | 169,813 | 361,323 | 268,126 | 640,556 |
| Gross profit | 85,953 | 146,402 | 141,043 | 243,942 |
| Operating expenses | ||||
| General and administrative | 36,971 | 40,250 | 74,755 | 78,392 |
| Change in fair value of contingent consideration | 503 | 705 | (232) | 2,043 |
| Depreciation and amortization | 8,877 | 9,206 | 18,504 | 19,808 |
| Total operating expenses | 46,351 | 50,161 | 93,027 | 100,243 |
| Income from operations | 39,602 | 96,241 | 48,016 | 143,699 |
| Other (loss) income, net | (1,794) | 125 | (980) | 319 |
| Interest income | 4,782 | 1,468 | 8,462 | 2,699 |
| Foreign currency (loss) gain, net | (468) | 260 | (967) | 66 |
| Interest expense | (8,614) | (11,577) | (17,554) | (22,308) |
| Total other expense, net | (6,094) | (9,724) | (11,039) | (19,224) |
| Income before income tax expense | 33,508 | 86,517 | 36,977 | 124,475 |
| Income tax expense | 7,810 | 21,352 | 9,114 | 29,675 |
| Net income | 25,698 | 65,165 | 27,863 | 94,800 |
| Preferred dividends and accretion | 13,749 | 12,784 | 27,251 | 25,268 |
| Net income to common shareholders | $11,949 | $52,381 | $612 | $69,532 |
| Income per common share | ||||
| Basic | $0.08 | $0.34 | $0.00 | $0.47 |
| Diluted | $0.08 | $0.34 | $0.00 | $0.46 |
| Weighted average number of common shares outstanding | ||||
| Basic | 151,797 | 150,919 | 151,574 | 150,763 |
| Diluted | 152,207 | 152,129 | 152,170 | 151,970 |
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