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Segment Reporting
 9 Months Ended
Sep. 30, 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 September 30, 2026
Array Legacy Operations
STI Operations
Consolidated
Segment revenue
$296,238 $33,974 $330,212 
Less:
Product cost(1)
198,116 32,638 230,754 
Amortization of developed technology and backlog
6,144 — 6,144 
Depreciation
2,501 18 2,519 
Other costs(2)
19,333 2,243 21,576 
Gross profit70,144 (925)69,219 
Total operating expenses
— — (55,279)
Total other expense, net
— — (4,092)
Income before income taxes$9,848 
Segment assets
1,371,284 213,667 1,584,951 
Capital expenditures
5,368 332 5,700 
Depreciation and amortization
12,527 2,925 15,452 
Interest income
1,943 209 2,152 
Interest expense
5,650 160 5,810 
Three Months Ended September 30, 2025
Array Legacy Operations
STI Operations
Consolidated
Segment revenue
$353,374 $40,117 $393,491 
Less:
Product cost(1)
233,575 35,572 269,147 
Amortization of developed technology and backlog
4,434 — 4,434 
Depreciation845 (67)778 
Other costs(2)
12,393 1,068 13,461 
Gross profit
102,127 3,544 105,671 
Total operating expenses
— — (60,220)
Total other expense, net
— — (2,007)
Income before income taxes
$43,444 
Segment assets
1,211,117 400,044 1,611,161 
Capital expenditures
5,211 302 5,513 
Depreciation and amortization
9,209 2,960 12,169 
Interest income
2,866 111 2,977 
Interest expense
4,362 684 5,046 
Nine Months Ended September 30, 2026
Array Legacy Operations
STI Operations
Consolidated
Segment revenue
$833,927 $61,762 $895,689 
Less:
Product cost(1)
522,440 61,050 583,490 
Amortization of developed technology and backlog
17,373 — 17,373 
Depreciation
6,201 19 6,220 
Other costs(2)
54,027 2,752 56,779 
Gross profit233,886 (2,059)231,827 
Total operating expenses
— — (176,013)
Total other expense, net
— — (10,118)
Income before income taxes$45,696 
Segment assets
1,371,284 213,667 1,584,951 
Capital expenditures
20,019 825 20,844 
Depreciation and amortization
37,704 8,828 46,532 
Interest income
6,103 838 6,941 
Interest expense
16,523 636 17,159 
Nine Months Ended September 30, 2025
Array Legacy Operations
STI Operations
Consolidated
Segment revenue
$858,474 $199,623 $1,058,097 
Less:
Product cost(1)
560,535 165,545 726,080 
Amortization of developed technology and backlog
11,713 — 11,713 
Depreciation1,973 — 1,973 
Other costs(2)
32,440 6,668 39,108 
Gross profit
251,813 27,410 279,223 
Total operating expenses
— — (160,112)
Total other income, net— — 4,492 
Income before income taxes
$123,603 
Segment assets
1,211,117 400,044 1,611,161 
Capital expenditures
13,922 574 14,496 
Depreciation and amortization
23,134 8,502 31,636 
Interest income
9,513 583 10,096 
Interest expense
19,905 1,944 21,849 

(1) Includes 45X benefits realized.
(2) Other costs is primarily comprised of outbound freight and certain overhead costs. Outbound freight for the three months ended September 30, 2026 and 2025 for Array Legacy Operations was $19.9 million and $12.0 million, respectively. Outbound freight for the nine months ended September 30, 2026 and 2025 for Array Legacy Operations was $53.4 million and $31.8 million, respectively.