Array Technologies Inc
For the period ended Sep 30, 2024. Filed Nov 7, 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.
Sep 30, 2024 · Filed Nov 7, 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 September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | $231,406 | $350,438 | $640,575 | $1,234,936 |
| Cost of revenue | ||||
| Cost of product and service revenue | 149,452 | 259,419 | 410,299 | 892,696 |
| Amortization of developed technology | 3,639 | 3,640 | 10,918 | 10,918 |
| Total cost of revenue | 153,091 | 263,059 | 421,217 | 903,614 |
| Gross profit | 78,315 | 87,379 | 219,358 | 331,322 |
| Operating expenses | ||||
| General and administrative | 40,149 | 37,432 | 114,904 | 115,825 |
| Change in fair value of contingent consideration | (39) | 190 | (271) | 2,232 |
| Depreciation and amortization | 8,880 | 9,552 | 27,384 | 29,361 |
| Goodwill impairment | 162,000 | — | 162,000 | — |
| Total operating expenses | 210,990 | 47,174 | 304,017 | 147,418 |
| (Loss) income from operations | (132,675) | 40,205 | (84,659) | 183,904 |
| Other loss, net | (682) | (446) | (1,662) | (127) |
| Interest income | 4,223 | 3,425 | 12,685 | 6,124 |
| Foreign currency (loss) gain, net | (106) | 207 | (1,073) | 273 |
| Interest expense | (8,264) | (13,064) | (25,818) | (35,372) |
| Total other expense, net | (4,829) | (9,878) | (15,868) | (29,102) |
| (Loss) income before income tax expense | (137,504) | 30,327 | (100,527) | 154,802 |
| Income tax expense | 3,850 | 7,229 | 12,964 | 36,904 |
| Net (loss) income | (141,354) | 23,098 | (113,491) | 117,898 |
| Preferred dividends and accretion | 14,080 | 13,091 | 41,332 | 38,359 |
| Net (loss) income to common shareholders | $(155,434) | $10,007 | $(154,823) | $79,539 |
| (Loss) income per common share | ||||
| Basic | $(1.02) | $0.07 | $(1.02) | $0.52 |
| Diluted | $(1.02) | $0.07 | $(1.02) | $0.52 |
| Weighted average number of common shares outstanding | ||||
| Basic | 151,923 | 151,068 | 151,691 | 150,865 |
| Diluted | 151,923 | 152,323 | 151,691 | 152,083 |
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