Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

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

	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	3,639		—		3,639
Depreciation	550		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 (loss) 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

	Three Months Ended March 31, 2024
	Array Legacy Operations		STI Operations		Consolidated
Segment revenue	$	114,381	$	39,022	$	153,403
Less:
Product cost (1)	56,579		30,152		86,731
Amortization of developed technology	3,639		—		3,639
Depreciation	510		24		534
Other costs (2)	4,567		2,842		7,409
Gross profit	49,086		6,004		55,090
Total operating expenses	—		—		(46,676)
Total other expense, net	—		—		(4,945)
Income (loss) before income taxes					$	3,469
Segment assets	813,729		815,554		1,629,283
Capital expenditures	2,206		190		2,396
Depreciation and amortization	7,112		6,652		13,764
Interest income	1,814		1,866		3,680
Interest expense	8,195		745		8,940

(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, 2025 and 2024 for Array Legacy Operations was $9.9 million and $4.5 million, respectively.