Filing Flows › Array Technologies (ARRY) › Q1 2025
Array Technologies (ARRY) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Array Technologies (ARRY) reported revenue of $302M for the first quarter 2025 (Q1 2025), +97% from a year earlier and +10% from the quarter before. Operating margin was 9.0%, net earnings $16.7M (5.5% of revenue).
Array Technologies, Q1 2025: revenue $302M (+97% year over year), operating margin 9.0%, net earnings $16.7M, operating cash flow −$13.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $302M | +10% | +97% |
| Gross profit | $76.4M | -2% | +39% |
| Operating profit | $27.3M | — | +224% |
| Net earnings | $16.7M | — | +673% |
| Operating cash flow | −$13.1M | — | — |
What changed
Revenue was $302.4M in Q1 2025, up 97% year over year and up 10% from the previous quarter. Array Legacy Operations was the largest line at 71% of revenue. Array Legacy Operations added $98.8M year over year (up 86%), 66% of the total change.
Gross margin was 25.3%, down 10.6 points from a year earlier. Operating profit was $27.3M, a 9.0% margin (up 3.5 points year over year). Of the extra revenue versus a year earlier, 13% reached operating profit, above the 5% margin then. Operating expenses grew 5% against revenue growth of 97%. The fastest-growing cost line was Research & development (+26%). Net earnings were $16.7M, up 673% year over year. The effective tax rate was 28.1%.
Operating cash flow was −$13.1M. Non-cash charges added back $5.3M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items used $38.0M. Capital expenditures of $2.4M exceeded it, leaving free cash flow of −$15.4M.
Questions
What was Array Technologies' revenue in the first quarter 2025?
Array Technologies (ARRY) reported revenue of $302M for the first quarter 2025 (Q1 2025), +97% from a year earlier and +10% from the quarter before.
Was Array Technologies profitable in the first quarter 2025?
Operating profit was $27.3M (9.0% of revenue) and net earnings $16.7M.
Source: Array Technologies 10-Q on SEC EDGAR.