Array Technologies Inc. (ARRY) Financial Statements (2024 and earlier)

Company Profile

Business Address 3901 MIDWAY PLACE NE
ALBUQUERQUE, NM 87109
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 399 - Miscellaneous Manufacturing Industries (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments133,901367,670108,441
Cash and cash equivalents133,901367,670108,441
Receivables424,715245,061135,852
Inventory, net of allowances, customer advances and progress billings233,159205,653118,459
Inventory233,159205,653118,459
Other undisclosed current assets39,43433,64912,423
Total current assets:831,209852,033375,175
Noncurrent Assets
Property, plant and equipment23,17410,6929,774
Intangible assets, net (including goodwill)802,548244,480267,987
Goodwill416,18469,72769,727
Intangible assets, net (excluding goodwill)386,364174,753198,260
Deferred income tax assets16,4669,345 
Other noncurrent assets32,65526,4293,088
Total noncurrent assets:874,843290,946280,849
TOTAL ASSETS:1,706,0521,142,979656,024
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities235,896133,138123,782
Taxes payable608,814
Accounts payable170,43091,39282,755
Accrued liabilities65,46641,68632,213
Deferred revenue178,92299,575149,821
Debt38,6914,3004,313
Business combination, contingent consideration, liability1,2001,7738,955
Other liabilities10,5535,909 
Due to related parties 6102,232
Other undisclosed current liabilities   
Total current liabilities:465,262245,305289,103
Noncurrent Liabilities
Long-term debt and lease obligation720,352711,056423,970
Long-term debt, excluding current maturities720,352711,056423,970
Liabilities, other than long-term debt96,58718,36123,850
Accounts payable and accrued liabilities1,786  
Deferred income tax liabilities72,606 13,114
Other liabilities14,8085,557 
Business combination, contingent consideration, liability7,38712,80410,736
Total noncurrent liabilities:816,939729,417447,820
Total liabilities:1,282,201974,722736,923
Temporary equity, carrying amount299,570237,462 
Equity
Equity, attributable to parent124,281(69,205)(80,899)
Common stock150135127
Additional paid in capital383,176202,562140,473
Accumulated other comprehensive income8,425  
Accumulated deficit(267,470)(271,902)(221,499)
Total equity:124,281(69,205)(80,899)
TOTAL LIABILITIES AND EQUITY:1,706,0521,142,979656,024

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
Revenues1,637,546853,318872,662
Cost of revenue(1,410,270)(770,459)(669,861)
Cost of goods and services sold(741)(2,990)(3,225)
Gross profit:227,27682,859202,801
Operating expenses(245,409)(107,600)(107,589)
Operating income (loss):(18,133)(24,741)95,212
Nonoperating income (expense)13,181(36,380)(17,434)
Other nonoperating income (expense)2,789(905)(2,305)
Interest and debt expense(33,513)(35,475)(15,129)
Income (loss) from continuing operations before equity method investments, income taxes:(38,465)(96,596)62,649
Other undisclosed income (loss) from continuing operations before income taxes33,51335,47515,129
Income (loss) from continuing operations before income taxes:(4,952)(61,121)77,778
Income tax expense (benefit)9,38410,718(18,705)
Income (loss) from continuing operations:4,432(50,403)59,073
Income (loss) before gain (loss) on sale of properties:(50,403)59,073
Net income (loss) attributable to parent:4,432(50,403)59,073
Other undisclosed net loss available to common stockholders, basic(48,054)(15,715) 
Net income (loss) available to common stockholders, diluted:(43,622)(66,118)59,073

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
Net income (loss):4,432(50,403)59,073
Comprehensive income (loss):4,432(50,403)59,073
Other undisclosed comprehensive income, net of tax, attributable to parent8,425  
Comprehensive income (loss), net of tax, attributable to parent:12,857(50,403)59,073

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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