Array Technologies Inc
For the period ended Mar 31, 2025. Filed May 6, 2025.
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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.
Mar 31, 2025 · Filed May 6, 2025
ARRY$4.73-8.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows (unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities | ||
| Net income | $16,746 | $2,165 |
| Adjustments to reconcile net income to cash provided by operating activities: | ||
| Provision for bad debts | 1,671 | 896 |
| Deferred tax expense (benefit) | 1,024 | (13) |
| Depreciation and amortization | 5,932 | 10,125 |
| Amortization of developed technology | 3,639 | 3,639 |
| Amortization of debt discount and issuance costs | 1,506 | 1,553 |
| Equity-based compensation | 2,798 | 3,926 |
| Change in fair value of contingent consideration | (150) | (735) |
| Warranty provision | 1,720 | (1,138) |
| Inventory reserve | 839 | 600 |
| Changes in working capital, net | (48,784) | 26,484 |
| Net cash provided by (used in) operating activities | (13,059) | 47,502 |
| Investing activities | ||
| Purchase of property, plant and equipment | (2,352) | (2,396) |
| Retirement/disposal of property, plant and equipment | — | 10 |
| Net cash used in investing activities | (2,352) | (2,386) |
| Financing activities | ||
| Proceeds from issuance of other debt | 7,862 | 2,283 |
| Principal payments on other debt | (7,294) | (3,781) |
| Principal payments on term loan facility | (1,075) | (1,070) |
| Contingent consideration payments | (1,204) | (1,427) |
| Other financing | (14) | (580) |
| Net cash used in financing activities | (1,725) | (4,575) |
| Effect of exchange rate changes on cash and cash equivalent balances | 2,488 | (2,001) |
| Net change in cash and cash equivalents and restricted cash | (14,648) | 38,540 |
| Cash and cash equivalents, and restricted cash beginning of period | 364,141 | 249,080 |
| Cash and cash equivalents and restricted cash, end of period | $349,493 | $287,620 |
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