Filing Flows › Array Technologies (ARRY) › Q3 2025
Array Technologies (ARRY) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Array Technologies (ARRY) reported revenue of $393M for the third quarter 2025 (Q3 2025), +70% from a year earlier and +9% from the quarter before. Operating margin was 11.6%, net earnings $33.5M (8.5% of revenue).
Array Technologies, Q3 2025: revenue $393M (+70% year over year), operating margin 11.6%, net earnings $33.5M, operating cash flow $27.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $393M | +9% | +70% |
| Gross profit | $106M | +9% | +35% |
| Operating profit | $45.5M | -2% | — |
| Net earnings | $33.5M | -23% | — |
| Operating cash flow | $27.4M | -38% | -39% |
| Free cash flow | $21.9M | — | -50% |
What changed
Revenue was $393.5M in Q3 2025, up 70% year over year and up 9% from the previous quarter. Array Legacy Operations was the largest line at 90% of revenue. Array Legacy Operations added $193.1M year over year (up 120%), 119% of the total change. STI Operations declined 44%.
Gross margin was 26.9%, down 7.0 points from a year earlier. Operating profit was $45.5M, a 11.6% margin (up 68.9 points year over year). Operating expenses fell 71% while revenue rose 70%. The fastest-growing cost line was Research & development (+44%). Net earnings were $33.5M. The effective tax rate was 22.9%.
Operating cash flow was $27.4M (down 39% year over year), 82% of net earnings. Non-cash charges added back $7.0M of depreciation and amortization and $4.6M of share-based compensation. Working capital and other items used $17.7M. After purchase of property, plant and equipment ($5.5M), free cash flow as the company reports it was $21.9M.
Questions
What was Array Technologies' revenue in the third quarter 2025?
Array Technologies (ARRY) reported revenue of $393M for the third quarter 2025 (Q3 2025), +70% from a year earlier and +9% from the quarter before.
Was Array Technologies profitable in the third quarter 2025?
Operating profit was $45.5M (11.6% of revenue) and net earnings $33.5M.
Source: Array Technologies 10-Q on SEC EDGAR.