Array Technologies(NASDAQ) ARRY

Array Technologies, Inc. makes tools that follow the sun. These systems help solar plants produce more energy for their owners. The technology makes renewable power more reliable and cheaper to create.

Following the Sun

• Solar Trackers: Mechanical systems that rotate solar panels to face the sun throughout the day; include the flagship DuraTrack and terrain-flexible OmniTrack models.
• Fixed-Tilt Racking: Rigid mounting systems designed for solar projects in challenging environments, high snow loads, or uneven terrain.
• Software Platforms: SmarTrack machine learning software that continuously determines the best alignment for solar arrays to maximize energy output in real time.
• Foundations and Wire Management: Specialized structural supports and wire solutions for utility-scale solar and battery storage projects.

Strategic Acquisitions and New Tech

• Acquired Soluciones Tecnicas Integrales Norland, S.L.U. in January 2022 to add dual-row trackers and expand into international markets.
• Completed the purchase of APA Solar in August 2025 to integrate fixed-tilt racking and adaptable foundation systems into the product lineup.
• Introduced the DuraTrack D2S in May 2026, a next-generation tracker designed for global markets using patented wind-stow technology.
• Launched Atlas in July 2026, a suite of solutions designed to improve technical interoperability between trackers and foundations.
• Entered an agreement in July 2026 to acquire Affordable Wire Management, LLC to add specialized wire products for solar and battery storage industries.

Efficiency Through Patented Design

Array uses a patented linked-row design that allows one motor to drive multiple rows of solar panels through articulated joints. This system aims to provide higher reliability and lower maintenance costs than designs that require a motor for every row.

A Look at the Books

• Consolidated revenue was $565.5 million for the six months ended June 30, 2026, representing a 15% decrease from the same period in 2025.
• Net income reached $26.3 million during the six-month period ended June 30, 2026, down 56% year over year.
• Gross margin for the six months ended June 30, 2026, rose to 28.8%, up from 26.1% in the prior-year period.
• Cash provided by operating activities was $91.9 million for the six months ended June 30, 2026, compared to $30.8 million in the first half of 2025.
• The company held $307.3 million in cash as of June 30, 2026, with $25.8 million of that total held outside the United States.

Bottom Line

Array has evolved from a tracker manufacturer into a provider of diverse structural and software solutions for the global solar industry. Its expansion through acquisitions and new product platforms has increased its ability to support solar projects in complex environments and varied climates.