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Dec 31, 2025
Array Technologies Q4 2025 Earnings Report
Array Technologies Q4 2025 Earnings Report
Key Takeaways
Array Technologies reported a challenging fourth quarter with a significant net loss driven by one-time inventory charges and goodwill impairment, despite achieving a record orderbook of $2.2 billion. While revenue declined year-over-year for the quarter, the company saw strong full-year volume growth and provided optimistic 2026 guidance based on international expansion and new product launches.
Achieved a record orderbook of $2.2 billion as of December 31, 2025, including $100 million from the APA acquisition.
Q4 results were heavily impacted by a $29.5 million inventory valuation charge and a $102.6 million non-cash goodwill impairment charge.
Full-year 2025 revenue grew 40% to $1.28 billion, outpacing broader industry trends with 35% volume growth.
Introduced DuraTrack technology to global markets to meet demand for wind-stow energy performance.
Forward Guidance
Array Technologies expects significant growth in 2026, with revenue projected between $1.4 billion and $1.5 billion, weighted toward the second half of the year.
Positive Outlook
- Full year 2026 revenue guidance of $1.4 billion to $1.5 billion.
- Expected Adjusted EBITDA in the range of $200 million to $230 million.
- Adjusted net income per share guided to $0.65 - $0.75.
- Launch of multiple new products including integrated tracker and foundation solutions.
- Expansion of DuraTrack technology into international markets.
Challenges Ahead
- Q1 2026 revenue expected to be approximately $200 million, lower than Q4 2025.
- Q1 2026 Adjusted EBITDA expected to decline slightly from Q4 2025 levels.
- Revenue split expected to be 40:60 between first and second half, indicating a slower start to the year.
- Regulatory uncertainty through 2025 influenced contracting timelines.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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