Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2026

Segment Reporting [Abstract]

Segment Reporting

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 profit	70,144		(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
Depreciation	845		(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 profit	233,886		(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
Depreciation	1,973		—		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.