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ARRY · NASDAQ · Solar

Array Technologies

Builds solar trackers, foundations, software, and field support for utility-scale PV projects.

$4.64

After-hours close+0.05 (+1.09%)

At close$4.59(−1.71%)

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Profile

Array Technologies, Inc.ARRYInformation Technology

Sells integrated solar tracking systems, fixed-tilt and foundation products, control software, and project services to developers, utilities, independent power producers, and EPC contractors. Revenue is concentrated in the U.S., with international reach through STI operations and deliveries across more than thirty countries.

Manufactures utility-scale solar tracker systems through Array Legacy Operations and STI Operations, including DuraTrack, STI H250, OmniTrack, SkyLink, Hail XP, DuraTrack D2S, and SmarTrack. APA added fixed-tilt racking, mounting, and foundation products such as ground screws, helicals, c-piles, and ballast foundations.

Sales flow through project contracts, master supply agreements, and multi-year procurement contracts with solar developers, independent power producers, utilities, and EPCs. Demand is concentrated in the U.S., while STI adds manufacturing and assembly in Spain and Brazil for local and international markets.

Execution depends on tracker design, software controls, supply-chain diversification, field support, and project timing. The business is shaped by customer concentration, renewable-energy policy, tariffs, steel and component availability, and weather-related operating requirements such as wind and hail stow features.

Company facts

CEOKevin G. Hostetler

ListedOct 15, 2020

ExchangeNASDAQ

HeadquartersAlbuquerque, NM

CountryUnited States

Employees1,200

CIK0001820721

ISINUS04271T1007

Key statistics

Market cap$706.1M

EPS (ttm)−$0.9785

P/E (ttm)−4.69

ROE-47.0%

P/B−3.49

P/S0.5958

Dividend yield—

Beta2.95vs XLK 0.50

Year to date −52.6% · Average volume (30d) 7.0M

Analysts

Price target, next 12 months$9.00+96.1%Median of 28 analysts · vs the Aug 28 close

ConsensusBuy14 of 28 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $4.59

High$12.00+161.4%

Median$9.00+96.1%

Low$6.00+30.7%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Prior target	Target
Aug 6, 2026	Robert W. Baird	Target			$11	$9
Aug 6, 2026	Deutsche Bank	Target			$8	$7.50
Aug 6, 2026	UBS	Reiterate		Buy	$11	$10
Aug 6, 2026	Wolfe Research	Reiterate		Outperform		$9
Jul 21, 2026	JP Morgan	Downgrade	Overweight	Neutral

Earnings

EPS

Estimate$0.12

ReportedDue Nov 4, 2026

Revenue

Estimate$329.7M

ReportedDue Nov 4, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 5, 2026Q2 FY26	$0.12	$0.24	+97.2%	$313.0M	$342.1M	+9.3%	−6.91%
May 6, 2026Q1 FY26	−$0.06	$0.06	+200.0%	$201.7M	$223.4M	+10.8%	+0.86%
Feb 25, 2026Q4 FY25	−$0.01	−$0.01	−27.2%	$211.5M	$226.0M	+6.9%	−33.82%
Nov 5, 2025Q3 FY25	$0.21	$0.30	+42.9%	$211.1M	$393.5M	+86.4%	+0.60%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$302.4M	$362.2M	$393.5M	$226.0M	$223.4M	$342.1M
Gross profit	$76.4M	$97.1M	$105.7M	$19.3M	$63.0M	$99.6M
Operating income	$27.1M	$46.5M	$46.5M	−$46.4M	$4.5M	$34.8M
Net income	$16.7M	$43.3M	$33.5M	−$145.7M	$2.0M	$24.3M
Diluted EPS	$0.02	$0.19	$0.12	−$1.06	−$0.09	$0.05
Gross margin	25.3%	26.8%	26.9%	8.6%	28.2%	29.1%
Operating margin	9.0%	12.8%	11.8%	-20.5%	2.0%	10.2%

Fiscal years (4-quarter sums)FY21 $846.0M · FY22 $1.64B · FY23 $1.58B · FY24 $915.8M · FY25 $1.28B

Revenue by geography · FY25

United States$1.04B · 82%

Spain$141.0M · 11%

Brazil$60.7M · 5%

Australia$23.8M · 2%

Balance sheet, Jun 30, 2026Cash & short-term investments $307.3M · Total debt $752.9M · Total assets $1.53B · Shareholders' equity −$202.1M

Dividends

No dividends on record.

Ownership

Institutions 133.29%Insiders 0.66%

A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.

Shares outstanding 153.83M · Float 139.88M · 90.9% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
BlackRock, Inc.	29.25M	19.02%	13F	Aug 7, 2026
Hill City Capital, LP	12.89M	8.38%	13F	Aug 17, 2026
Grantham, Mayo, van Otterloo & Co. LLC	11.89M	7.73%	13F	Aug 13, 2026
UBS Group AG	11.47M	7.46%	13F	Aug 13, 2026
First Trust Portfolios L.P.	10.40M	6.76%	13G	Jul 30, 2026

Insider tradesForm 4

No open-market trades in the last 12 months.