Array Q2 Earnings Beat Expectations, Raises Full-Year Guidance

Array (NASDAQ:ARRY) reported Q2 CY2025 revenue of $362.2 million, up 41.6% YoY, beating analyst estimates. Full-year revenue guidance was raised to $1.2 billion, a 6.1% increase above estimates. Non-GAAP profit of $0.25 per share was 27.9% above consensus estimates. Array also announced the acquisition of APA Solar and the launch of Hail XP.

Array Technologies Inc. (NASDAQ: ARRY), a leading provider of solar tracking technology, has reported robust financial results for the second quarter of 2025. The company achieved revenue of $362.2 million, representing a 41.6% year-over-year (YoY) increase and exceeding analyst estimates. This strong performance was driven by a 20% sequential revenue growth compared to the previous quarter, highlighting the company's commercial execution [1].

Key highlights of the Q2 2025 results include:
- Revenue: $362.2 million, up 41.6% YoY
- Net Income: $28.5 million, or $0.19 per share
- Gross Margin: 26.8% (GAAP) and 27.8% (adjusted)
- Adjusted EBITDA: $63.6 million
- Adjusted EPS: $0.25

Array Technologies also announced several strategic moves to bolster its financial position and product offerings. The company issued $345 million in convertible notes, enabling it to fully repay its higher-interest term loan and repurchase $100 million of 2028 convertible notes at a roughly 20% discount. This move significantly reduced the company's interest expense and total debt burden [1].

In addition, Array Technologies raised its full-year 2025 revenue guidance to $1.180-1.215 billion, an increase of 6.1% above previous estimates. The company also projected adjusted EBITDA of $185-$200 million and adjusted net income per share of $0.63-$0.70. These upward revisions reflect strong first-half performance and confidence in continued execution through the year-end [1].

The company also announced the pending acquisition of APA Solar, which is expected to close soon. This acquisition represents a strategic expansion that should complement Array's product portfolio. Furthermore, the launch of their Hail XP™ product demonstrates the company's continued focus on innovation [1].

Array Technologies' strong Q2 performance and strategic moves position it well for future growth. The company's year-to-date volume growth of 84% over 2024 levels, along with a healthy orderbook of over $1.8 billion in total executed contracts and awarded orders, underscores its market leadership and commercial success [1].

References:
[1] https://www.stocktitan.net/news/ARRY/array-technologies-inc-reports-financial-results-for-the-second-goi16bkjjcvg.html