Filing Flows › Array Technologies (ARRY) › Q4 2025
Array Technologies (ARRY) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Array Technologies (ARRY) reported revenue of $226M for the fourth quarter 2025 (Q4 2025), -18% from a year earlier and -43% from the quarter before. Operating margin was -65.5%, net loss $146M (64.5% of revenue).
Array Technologies, Q4 2025: revenue $226M (-18% year over year), operating margin -65.5%, net loss $146M, operating cash flow $43.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $226M | -43% | -18% |
| Operating profit | −$148M | -426% | — |
| Net earnings | −$146M | -535% | — |
| Operating cash flow | $43.6M | +59% | -24% |
| Free cash flow | $36.2M | — | — |
What changed
Revenue was $226.0M in Q4 2025, down 18% year over year and down 43% from the previous quarter. Array U.S. Operations was the largest line at 94% of revenue.
Gross margin was 8.6%, down 19.9 points from a year earlier. Operating costs exceeded revenue by $148.1M, an operating margin of -65.5%. Operating expenses fell 24% while revenue fell 18%. The fastest-growing cost line was Research & development (+93%). The quarter ended with a net loss of $145.7M, after a profit of $33.5M the previous quarter.
Operating cash flow was $43.6M (down 24% year over year). Non-cash charges added back $8.2M of depreciation and amortization and $4.2M of share-based compensation. Working capital and other items added $176.9M. After purchase of property, plant and equipment ($7.5M), free cash flow as the company reports it was $36.2M.
Questions
What was Array Technologies' revenue in the fourth quarter 2025?
Array Technologies (ARRY) reported revenue of $226M for the fourth quarter 2025 (Q4 2025), -18% from a year earlier and -43% from the quarter before.
Was Array Technologies profitable in the fourth quarter 2025?
Operating loss was $148M (-65.5% of revenue) and net loss $146M.
Source: Array Technologies 10-K on SEC EDGAR.