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Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
ASC Topic 280 Segment Reporting establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The CODM is the Chief Executive Officer of the Company.

The Company works with customers to design a solar array to achieve the project’s desired power output. The Company provides the solar tracking system components, which include standard and nonstandard parts. The Company delivers the fully functioning tracker systems for the project sites and provides commissioning services. Although the solar array may use different components and technology depending on the geography and type of system, the Company conducts its operations in the United States and internationally, primarily in Spain and Brazil and is expanding into other international markets through STI Operations.

The Company has two separate operating segments, Array Legacy Operations and STI Operations, which are also reportable segments. Array Legacy Operations consists primarily of amounts earned from the design and delivery of solar arrays in the United States, and STI Operations consists primarily of amounts earned from the design and delivery of solar arrays outside of the United States. APA is a component of the Array Legacy Operations reportable segment.

The Company’s CODM assesses the performance of each operating segment by using gross profit. This measure is also predominantly used in the annual budget and forecasting process. The CODM primarily uses the annual operating plan and the monthly financial results for Array Legacy Operations and STI Operations when making decisions about the allocation of operating and capital resources to each segment.
The following tables summarize the financial results by segment during the periods presented (in thousands):
Three Months Ended March 31, 2026
Array Legacy Operations
STI Operations
Consolidated
Segment revenue
$217,381 $6,031 $223,412 
Less:
Product cost(1)
134,759 8,107 142,866 
Amortization of developed technology and backlog
5,614 — 5,614 
Depreciation
1,674 — 1,674 
Other costs(2)
10,077 177 10,254 
Gross profit (loss)
65,257 (2,253)63,004 
Total operating expenses
— — (55,895)
Total other expense, net
— — (2,984)
Loss before income taxes
$4,125 
Segment assets
1,265,004 210,023 1,475,027 
Capital expenditures
7,018 493 7,511 
Depreciation and amortization
12,403 2,962 15,365 
Interest income
2,188 199 2,387 
Interest expense
5,380 183 5,563 
Three Months Ended March 31, 2025
Array Legacy Operations
STI Operations
Consolidated
Segment revenue
$213,214 $89,149 $302,363 
Less:
Product cost(1)
133,340 76,758 210,098 
Amortization of developed technology and backlog
3,639 — 3,639 
Depreciation550 33 583 
Other costs(2)
10,004 1,611 11,615 
Gross profit
65,681 10,747 76,428 
Total operating expenses
— — (49,144)
Total other expense, net
— — (4,004)
Income before income taxes
$23,280 
Segment assets
1,005,615 420,143 1,425,758 
Capital expenditures
2,214 138 2,352 
Depreciation and amortization
6,901 2,670 9,571 
Interest income
3,047 272 3,319 
Interest expense
7,522 513 8,035 

(1) Includes 45X benefits realized.
(2) Other is primarily comprised of outbound freight and certain overhead costs. Outbound freight for the three months ended March 31, 2026 and 2025 for Array Legacy Operations was $9.5 million and $9.9 million, respectively.