Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following tables summarize the financial results by segment during the periods presented (in thousands):

	Year Ended December 31, 2024
	Array Legacy Operations		STI Operations		Consolidated
Segment revenue	$	661,629	$	254,178	$	915,807
Less:
Product cost (1)	353,034		225,517		578,551
Amortization of developed technology	14,558		—		14,558
Depreciation	2,045		90		2,135
Other costs (2)	21,961		925		22,886
Gross profit	$	270,031	$	27,646	$	297,677
Total operating expenses	—		—		(524,682)
Total other expense, net	—		—		(23,571)
Income (loss) before income taxes					$	(250,576)
Segment assets	1,018,487		407,512		1,425,999
Capital expenditures	6,423		882		7,305
Depreciation and amortization	27,303		25,476		52,779
Interest income	12,767		4,010		16,777
Interest expense	32,516		2,309		34,825

	Year Ended December 31, 2023
	Array Legacy Operations		STI Operations		Consolidated
Segment revenue	$	1,172,827	$	403,724	$	1,576,551
Less:
Product cost (1)	805,174		305,778		1,110,952
Amortization of developed technology	14,558		—		14,558
Depreciation (3)	1,348		—		1,348
Other costs (2) (3)	34,142		—		34,142
Gross profit	$	317,605	$	97,946	$	415,551
Total operating expenses	—		—		(201,427)
Total other expense, net	—		—		(36,967)
Income (loss) before income taxes					$	177,157
Segment assets	868,697		838,044		1,706,741
Capital expenditures	15,748		1,241		16,989
Depreciation and amortization	26,840		27,986		54,826
Interest income	3,985		4,345		8,330
Interest expense	40,982		3,247		44,229

	Year Ended December 31, 2022
	Array Legacy Operations		STI Operations		Consolidated
Segment revenue	$	1,267,883	$	369,663	$	1,637,546
Less:
Product cost	1,047,772		310,557		1,358,329
Amortization of developed technology	14,558		—		14,558
Depreciation (3)	1,620		—		1,620
Other costs (2) (3)	50,321		—		50,321
Gross profit	$	153,612	$	59,106	$	212,718
Total operating expenses	—		—		(230,851)
Total other expense, net	—		—		13,181
Income (loss) before income taxes					$	(4,952)
Segment assets	843,934		862,118		1,706,052
Capital expenditures	9,831		788		10,619
Depreciation and amortization	25,960		75,099		101,059
Interest income	504		2,677		3,181
Interest expense	34,272		2,422		36,694

(1) Includes 45X benefits realized in the amount of $137.8 million and $9.3 million for fiscal 2024 and 2023, respectively.

(2) Other is primarily comprised of outbound freight and certain overhead costs.

(3) Depreciation and Other for STI Operations for the years ended December 31, 2023 and 2022 is immaterial and included within the line item product cost.

Schedule of Revenue from External Customers by Geographic Areas

The following table presents revenues by geographic region, based on the customers project location (in thousands):        

	Year Ended December 31,
	2024		2023		2022
U.S.	$	643,481	$	1,166,160	$	1,286,064
Spain	83,742		99,160		129,292
Brazil	135,102		257,872		144,464
Australia	8,708		20,842		9,429
Remainder	44,774		32,517		68,297
Total revenue	$	915,807	$	1,576,551	$	1,637,546

Schedule of Long-Lived Assets by Geographic Areas

The following table presents property, plant and equipment, net by geographic region at the end of the period (in thousands):

	December 31,
	2024		2023
U.S.	$	20,058	$	18,982
Spain	2,967		3,457
Brazil	13		3,305
Australia	471		554
Remainder	2,713		1,595
Total property, plant and equipment, net	$	26,222	$	27,893