Segment Reporting

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

ASC 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 in deciding how to allocate resources and in assessing performance. Historically, the Company managed its business on the basis of one operating and reportable segment. Concurrent with the acquisition of STI in January 2022, the Company began operating as two segments; Array Legacy Operations and STI Operations.

The following table provides a reconciliation of certain financial information for the Company’s reportable segments to information presented in its condensed consolidated financial statements for the three and nine months ended September 30, 2023 and 2022 (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Revenue:
Array Legacy Operations	$	244,857	$	400,463	$	895,322	$	998,292
STI Operations	105,581		114,561		339,614		237,183
Total	$	350,438	$	515,024	$	1,234,936	$	1,235,475
Gross Profit:
Array Legacy Operations	$	58,233	$	60,281	$	241,019	$	108,111
STI Operations	29,146		16,302		90,303		27,727
Total	$	87,379	$	76,583	$	331,322	$	135,838