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U.S. stock futures were lower this morning, with the Dow futures falling around 0.1% on Thursday.Shares of C3.ai Inc (NYSE:AI) fell sharply in pre-market trading after the company reported worse-than-expected third-quarter financial results.C3 AI reported quarterly losses of 40 cents per share, which missed the consensus estimate for losses of 29 cents, according to data from Benzinga Pro. Quarterly revenue came in at $53.26 million, which missed the Street estimate of $75.616 million by more than 29% and w ...

Array Technologies (NasdaqGM:ARRY) Q4 2025 Earnings call February 25, 2026 05:00 PM ET Company ParticipantsDylan Nassano - VP of Equity ResearchKeith Jennings - CFOKevin Hostetler - CEONeil Manning - President and COOSarah Sheppard - Head of Investor RelationsConference Call ParticipantsAmeet Thakkar - Director and Equity Research AnalystBen Kallo - Senior Research AnalystBrian Lee - AnalystChris Dendrinos - Clean Energy AnalystColin Rusch - Managing Director and Senior Research AnalystCorinne Blanchard - D ...

Array Technologies (NasdaqGM:ARRY) Q4 2025 Earnings call February 25, 2026 05:00 PM ET Company ParticipantsDylan Nassano - VP of Equity ResearchKeith Jennings - CFOKevin Hostetler - CEONeil Manning - President and COOSarah Sheppard - Head of Investor RelationsConference Call ParticipantsAmeet Thakkar - Director and Equity Research AnalystBen Kallo - Senior Research AnalystBrian Lee - AnalystChris Dendrinos - Clean Energy AnalystColin Rusch - Managing Director and Senior Research AnalystCorinne Blanchard - D ...

Array Technologies (NasdaqGM:ARRY) Q4 2025 Earnings call February 25, 2026 05:00 PM ET Speaker14Good afternoon. Welcome to Array Technologies' fourth quarter and full year 2025 earnings conference call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Sarah Sheppard, Investor Relations at Array. Please go ahead.Speaker16Thank you. I would ...

Array Technologies (NasdaqGM:ARRY) Q4 2025 Earnings call February 25, 2026 05:00 PM ET Speaker11Good afternoon. Welcome to Array Technologies' fourth quarter and full year 2025 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Sarah Sheppard, Investor Relations at Array. Please go ahead.Speaker13Thank you. I would ...

Revenue and Customer Base - The company generated 81% of its revenues from U.S. customers and 19% from international customers during the year ended December 31, 2025[280]. - The company’s largest customer accounted for 13.4% of total revenue in 2025, down from 15.6% in 2024, indicating a shift in customer concentration[314]. - During the year ended December 31, 2025, the two largest customers accounted for approximately 13.7% and 12.2% of total revenue[389]. - The largest customer accounted for 13.4% of total accounts receivable as of December 31, 2025, while the five largest customers accounted for 29.8%[388]. Financial Performance - Consolidated revenue for the year ended December 31, 2025 increased by $368.3 million, or 40%, compared to 2024, primarily driven by a 62% increase in revenue from Array Legacy Operations[336]. - Array Legacy Operations revenue increased by $408.8 million, or 62%, for the year ended December 31, 2025, primarily due to a volume increase of approximately 62%[337]. - STI Operations revenue decreased by $40.5 million, or 16%, for the year ended December 31, 2025, driven by a 20% decrease in volume, partially offset by a 5% increase in average selling price (ASP)[338]. - Consolidated cost of revenue increased by $367.5 million, or 59%, for the year ended December 31, 2025, in line with higher volume[339]. - Consolidated gross profit increased by $0.9 million, or 0.3%, for the year ended December 31, 2025, with a gross margin decrease to 23% from 33% in the prior year[339]. - Array Legacy Operations gross profit increased by $30.0 million, or 11%, for the year ended December 31, 2025, with a gross margin decrease to 28% from 41%[340]. - STI Operations gross profit decreased by $29.1 million, or 105%, for the year ended December 31, 2025, with a gross margin decrease to (1)% from 11%[341]. - General and administrative expenses increased by $38.0 million, or 24%, for the year ended December 31, 2025, primarily due to increased compensation costs and acquisition-related expenses[343]. - Consolidated interest income decreased by $4.9 million, or 29%, for the year ended December 31, 2025, primarily due to lower yields on cash management[348]. - Consolidated income tax expense increased by $33.2 million, or 326%, shifting from a tax benefit in 2024 to a tax expense in 2025, primarily due to a decrease in pre-tax loss[351]. Acquisitions and Investments - The APA Acquisition was completed for a total purchase consideration of approximately $185.4 million, including an earnout provision valued at approximately $19.3 million[281]. - The acquisition of APA involved cash consideration of $164.9 million, contributing to a total cash used in investing activities of $187.9 million for 2025[365]. - The Earnout Consideration from the APA acquisition is estimated at a fair value of $22.4 million as of December 31, 2025, based on a Monte-Carlo simulation method[376]. Cash Flow and Liquidity - For the year ended December 31, 2025, net cash provided by operating activities was $101.8 million, down from $153.98 million in 2024, while cash used in investing activities increased to $187.9 million[359][365]. - As of December 31, 2025, the Company had a cash balance of $244.4 million and net working capital of $492.0 million, with $137.9 million available under the revolving credit facility[360]. - The Company believes that operating cash flows will be sufficient to meet liquidity needs in the next 12 months and beyond[363]. - The Company posted surety bonds totaling approximately $215.5 million as of December 31, 2025, which do not adversely impact liquidity[358]. Debt and Financing - The Company entered into a senior secured credit facility with a $575 million term loan and a $200 million revolving credit facility, which was later amended to reduce commitments to $166 million and extend maturity to October 14, 2028[355]. - The Revolving Credit Facility was increased to $370 million and extended to February 18, 2031 under the Fifth Amendment[356]. - The Company repaid $233.9 million on its Term Loan Facility and $174.4 million of other debt during the financing activities of 2025[366]. - As of December 31, 2025, the Company's long-term debt was $658.7 million, with $12.8 million subject to variable-rate interest agreements[392]. - A 50 basis point change in interest rates would impact the expected annual interest expense by approximately $0.1 million[392]. Research and Development - R&D expenses totaled $9.9 million, $6.7 million, and $8.5 million for the years ended December 31, 2025, 2024, and 2023, respectively, out of total engineering expenses of $18.7 million, $17.0 million, and $16.7 million[288]. Market Conditions and Risks - The ongoing Russia-Ukraine war has led to increased logistics costs and material availability issues, impacting the company's procurement strategy[300]. - Disruptions in key shipping lanes have caused port congestion and increased shipping costs, prompting the company to enhance local sourcing efforts[301]. - Inflationary pressures are expected to negatively impact operations, leading the company to accelerate productivity initiatives and expand its supplier base[302]. - The USDOC's affirmative determinations on circumvention have resulted in AD/CVD orders on certain CSPV cells and modules, with cash deposit rates potentially exceeding 250%[303]. - The Company is exposed to market risk from fluctuations in steel and aluminum prices, which could impact operating margins[391]. Product Development and Innovation - The company shipped approximately 96 gigawatts of solar trackers to customers worldwide since its founding[280]. - The company’s flagship tracker, DuraTrack, utilizes a patented design that allows one motor to drive multiple rows of solar panels, enhancing efficiency and reliability[277]. - The company’s OmniTrack product, introduced in September 2022, requires significantly less grading and civil works permitting prior to installation[278]. Tax and Regulatory Matters - The company expects tax provisions from the OBBB to reduce its 2025 taxable income, improving near-term operating cash flows[293]. - The IRS issued guidance on domestic content bonus tax credits, with further clarifications in Notices 2024-41 and 2025-08, which may affect project timelines for customers[297]. - The domestic content threshold for solar facilities starting construction after June 16, 2025, has been increased, but the overall requirements for claiming the bonus credit remain unchanged[298]. Goodwill and Impairment - The Company recorded goodwill impairments totaling $102.6 million and $236.0 million for the years ended December 31, 2025 and 2024, respectively, related to the STI Operations reporting unit[379]. - The Company identified indicators of impairment related to its reporting units during the third and fourth quarters of 2024 due to a sustained decline in stock price[378]. - The Company performed quantitative goodwill impairment tests with the assistance of a third-party valuation specialist as of September 30, 2024, and December 31, 2024[378]. - The significant assumptions for fair value determination included revenue growth rate, forecasted EBITDA margin, and discount rate[380]. - As of December 31, 2025, the estimated fair value of the Array Legacy Operations reporting unit was significantly higher than its carrying balance[379]. Performance Metrics - MWs shipped is a key performance metric, with the company tracking changes in MWs to evaluate sales performance and market acceptance[316]. - Revenue growth is dependent on the expansion of solar energy projects and the company's ability to maintain market share and develop innovative products[322]. - A majority of revenue is recognized over time as work progresses, with adjustments made based on ongoing contract estimates[323].

Here's a look at the details from the report. ARRY stock is moving. Watch the price action here.The Details: Array Technologies reported quarterly losses of one cent per share, which met the consensus estimate, according to Benzinga Pro.Quarterly revenue came in at $226.04 million, which beat the Street estimate of $212.02 million, but was down from $275.23 million in the same period last year.“ARRAY closed out an exceptional year in which we further demonstrated the resilience and agility of our business,” ...

February 25, 2026 4Q and FY25 EARNINGS PRESENTATION 4Q25 EARNNINGS PRESENTATION 0 4Q25 EARNNINGS PRESENTATION DISCLAIMER FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, technology or product developments, financing and investment ...

February 25, 2026 ARRAY Technologies Reports Financial Results for the Fourth Quarter and Full Year 2025 Achieves 40% Full-Year Revenue Growth, Record Orderbook of $2.2 Billion, Further Expands DuraTrack® Technology to Global Markets and Guides 2026 Revenue to $1.4 Billion to $1.5 Billion • Total executed contracts and awarded orders at December 31, 2025 were $2.2 billion (1) • Achieved 2x book-to-bill for both total ARRAY and APA • DuraTrack introduced to global markets to align with customer demand for pa ...