📊 ARRY Key Takeaways
Is Array Technologies, Inc. (ARRY) a Good Investment?
Array Technologies faces critical solvency concerns despite strong 40.2% revenue growth—negative stockholders' equity of -$214.4M combined with negative operating cash flow (-$29.4M) and negative free cash flow (-$36.9M) indicate the company is burning cash and cannot service its $657M debt load from operations. The company's interest coverage ratio of 0.8x signals inability to meet debt obligations, creating severe financial distress.
Array Technologies is showing strong top-line momentum, with revenue up 40.2% year over year and positive free cash flow generation, which suggests underlying demand and working-capital discipline remain intact. However, the business is still unprofitable at the operating and net income levels, interest coverage is negative, and negative stockholders' equity materially weakens the balance-sheet profile. The fundamentals point to improving execution, but the capital structure and earnings quality still make the company high risk.
Array Technologies, Inc. Key Strengths (ARRY)
- Strong revenue growth of 40.2% year-over-year demonstrates market demand
- Gross margin of 28.2% provides reasonable product pricing power
- Cash balance of $200.7M provides near-term liquidity buffer
- Revenue growth is strong at 40.2% year over year, indicating solid demand and market traction
- Gross margin of 23.2% and positive free cash flow of $79.81M show the business can generate cash despite losses
- Liquidity is relatively solid with $244.39M in cash, a 2.31x current ratio, and a 1.91x quick ratio
ARRY Stock Risks: Array Technologies, Inc. Investment Risks
- Negative stockholders' equity of -$214.4M indicates technical insolvency
- Negative operating cash flow of -$29.4M shows business burning cash despite revenue growth
- Interest coverage ratio of 0.8x—cannot cover debt service from operating income
- Negative free cash flow of -$36.9M with -16.5% FCF margin is unsustainable
- High leverage with $657M long-term debt relative to thin 0.9% net margin
- Net income of only $2.0M on $223.4M revenue insufficient for capital-intensive operations
- Operating and net margins remain negative, showing the company has not yet converted growth into sustainable profitability
- Negative stockholders' equity and $658.66M of long-term debt create meaningful balance-sheet risk
- Interest coverage of -3.2x indicates earnings are currently insufficient to support debt costs comfortably
Key Metrics to Watch
- Operating cash flow—must turn positive to validate business model sustainability
- Debt covenant compliance and refinancing capacity as cash depletes
- Path to positive stockholders' equity and balance sheet repair
- Operating margin expansion—current 3.2% margin inadequate for debt service
- Operating margin and net income trend toward sustained profitability
- Free cash flow durability alongside debt reduction and equity recovery
Array Technologies, Inc. (ARRY) Financial Metrics & Key Ratios
💡 AI Analyst Insight
Strong liquidity with a 2.25x current ratio provides a solid financial cushion.
ARRY Profit Margin, ROE & Profitability Analysis
ARRY vs Technology Sector: How Array Technologies, Inc. Compares
How Array Technologies, Inc. compares to Technology sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Array Technologies, Inc. Stock Overvalued? ARRY Valuation Analysis 2026
Based on fundamental analysis, Array Technologies, Inc. has mixed fundamental signals relative to the Technology sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Array Technologies, Inc. Balance Sheet: ARRY Debt, Cash & Liquidity
ARRY Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Array Technologies, Inc.'s revenue has grown significantly by 81% over the 5-year period, indicating strong business expansion. The most recent EPS of $0.56 reflects profitable operations.
ARRY Revenue Growth, EPS Growth & YoY Performance
ARRY Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $223.4M | $2.0M | $0.02 |
| Q3 2025 | $231.4M | $33.5M | $0.12 |
| Q2 2025 | $255.8M | $25.7M | $0.00 |
| Q1 2025 | $153.4M | $2.2M | $0.02 |
| Q3 2024 | $231.4M | $23.1M | $0.07 |
| Q2 2024 | $255.8M | $25.7M | $0.00 |
| Q1 2024 | $153.4M | $2.2M | $-0.07 |
| Q3 2023 | $350.4M | $9.7M | $0.07 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Array Technologies, Inc. Dividends, Buybacks & Capital Allocation
ARRY SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Array Technologies, Inc. (CIK: 0001820721)
📋 Recent SEC Filings
| Date | Form | Document | Action |
|---|---|---|---|
| May 21, 2026 | 4 | xslF345X06/wk-form4_1779391033.xml | View → |
| May 21, 2026 | 4 | xslF345X06/wk-form4_1779390942.xml | View → |
| May 21, 2026 | 4 | xslF345X06/wk-form4_1779390896.xml | View → |
| May 21, 2026 | 4 | xslF345X06/wk-form4_1779390807.xml | View → |
| May 21, 2026 | 4 | xslF345X06/wk-form4_1779390695.xml | View → |
❓ Frequently Asked Questions about ARRY
What is the AI rating for ARRY?
Array Technologies, Inc. (ARRY) has a Combined AI Grade of C from Claude (D) and ChatGPT (C) with 88% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are ARRY's key strengths?
Claude: Strong revenue growth of 40.2% year-over-year demonstrates market demand. Gross margin of 28.2% provides reasonable product pricing power. ChatGPT: Revenue growth is strong at 40.2% year over year, indicating solid demand and market traction. Gross margin of 23.2% and positive free cash flow of $79.81M show the business can generate cash despite losses.
What are the risks of investing in ARRY?
Claude: Negative stockholders' equity of -$214.4M indicates technical insolvency. Negative operating cash flow of -$29.4M shows business burning cash despite revenue growth. ChatGPT: Operating and net margins remain negative, showing the company has not yet converted growth into sustainable profitability. Negative stockholders' equity and $658.66M of long-term debt create meaningful balance-sheet risk.
What is ARRY's revenue and growth?
Array Technologies, Inc. reported revenue of $223.4M.
Does ARRY pay dividends?
Array Technologies, Inc. pays dividends, with $8.1M distributed to shareholders in the trailing twelve months.
Where can I find ARRY SEC filings?
Official SEC filings for Array Technologies, Inc. (CIK: 0001820721) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is ARRY's EPS?
Array Technologies, Inc. has a diluted EPS of $-0.09.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is ARRY's fundamental grade?
Based on our AI fundamental analysis in June 2026, Array Technologies, Inc. has a C grade with 88% confidence. Review the strengths and risks sections above for full context. This is not investment advice.
Is ARRY stock overvalued or undervalued?
Valuation metrics for ARRY: ROE of N/A (sector avg: 22%), net margin of 0.9% (sector avg: 18%). Compare these metrics with sector averages to assess valuation.
What is ARRY's AI grade for 2026?
Our dual AI analysis gives Array Technologies, Inc. a combined C grade for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is ARRY's free cash flow?
Array Technologies, Inc.'s operating cash flow is $-29.4M, with capital expenditures of $7.5M. FCF margin is -16.5%.
How does ARRY compare to other Technology stocks?
Vs Technology sector averages: Net margin 0.9% (avg: 18%), ROE N/A (avg: 22%), current ratio 2.25 (avg: 2.5).