2026 Second Quarter
Filed Aug 5, 2026ARRAY Technologies Reports Financial Results for the Second Quarter 2026 Delivers Record $2.5 Billion Orderbook While Advancing Innovation Strategy
The company reported $342.1 million of revenue, 29.1% gross margin, $63.3 million of Adjusted EBITDA, and a record $2.5 billion orderbook that was 37% higher year-over-year. Full-year revenue guidance was maintained while the lower ends of Adjusted EBITDA and adjusted net income per share guidance were raised.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| RevenueGAAP | $342.1 million | – | – |
| Gross marginGAAP | 29.1% | – | – |
| Adjusted gross marginnon-GAAP | 30.8% | – | – |
| Net income to common stockholdersGAAP | $8.4 million | – | – |
| Adjusted EBITDAnon-GAAP | $63.3 million | – | – |
| Net income per basic and diluted common shareGAAP | $0.05 | – | – |
| Adjusted net income per diluted common sharenon-GAAP | $0.24 | – | – |
| Total executed contracts and awarded ordersother | $2.5 billion | – | 37% increase year-over-year |
| New orders in the quarterother | Over $500 million | – | – |
| Trailing twelve-month book-to-billother | 1.5x | – | – |
| Cumulative tracker product shipmentsother | 100 gigawatts | – | – |
For the year ending December 31, 2026 and for the quarter ending September 30, 2026 outlook
- RevenueFor the year ending December 31, 2026: $1.4 billion to $1.5 billion; for the quarter ending September 30, 2026: $310 million to $330 million
- Gross marginFull-year Adjusted Gross Margin: 27% to 28%
- NoteFull-year Adjusted EBITDA: $210 million to $230 million, previously $200 million to $230 million
- NoteFull-year Adjusted net income per common share: $0.68 to $0.75, previously $0.65 to $0.75
What drove it
- Record total executed contracts and awarded orders at June 30, 2026 of $2.5 billion, a 37% increase year-over-year.
- Over $500 million of new orders in the quarter and a trailing twelve-month book-to-bill of 1.5x.
- The company formally launched DuraTrack D2S for international markets.
- The company announced next-generation OmniTrack, which accommodates an industry-leading 2° of slope change between adjacent posts.
- The company announced the ARRAY Atlas suite of foundation-to-tracker solutions and stated that its pending acquisition of Affordable Wire Management would add high-margin cable management and safety products.
Concerns
- Management stated that it will continue to monitor market dynamics.
- The Affordable Wire Management transaction is expected to close in the third quarter of 2026, subject to required regulatory approvals and other customary closing conditions.
- The filing identifies risks related to demand for solar projects, tariffs and trade policy, government incentives, customer performance, supply-chain disruption, raw-material costs, transportation and logistics, and project delays.
What to watch
- Conversion of the $2.5 billion orderbook into revenue.
- Revenue performance against the $310 million to $330 million outlook for the quarter ending September 30, 2026.
- Delivery of full-year Adjusted Gross Margin of 27% to 28%.
- Progress toward full-year Adjusted EBITDA of $210 million to $230 million and adjusted net income per common share of $0.68 to $0.75.
- Closing of the pending Affordable Wire Management acquisition and its role in the company's balance of system strategy.
Analysis
Array reported second-quarter revenue of $342.1 million, GAAP gross margin of 29.1%, adjusted gross margin of 30.8%, and GAAP net income to common stockholders of $8.4 million. Adjusted EBITDA was $63.3 million, while GAAP net income per basic and diluted common share was $0.05 and adjusted net income per diluted common share was $0.24. The supplied release does not provide prior-year or prior-quarter financial results for these line items.
Demand indicators were the principal strength of the release. Total executed contracts and awarded orders reached a record $2.5 billion at June 30, 2026, representing a 37% increase year-over-year. The company also reported over $500 million of new orders during the quarter and a trailing twelve-month book-to-bill of 1.5x. Management described the orderbook as a reflection of continued share gains and strong execution.
The company highlighted product and solution-set expansion rather than segment-level financial performance. It formally launched DuraTrack D2S for international markets, announced next-generation OmniTrack, and cited the ARRAY Atlas suite of foundation-to-tracker solutions. Management also said the pending Affordable Wire Management acquisition would add high-margin cable management and safety products and further its balance of system strategy. No segment revenue, segment margin, or segment profitability was reported in the supplied filing text.
Guidance was updated following what management described as strong first-half performance. Full-year revenue guidance remained $1.4 billion to $1.5 billion, while full-year Adjusted EBITDA guidance increased to $210 million to $230 million from $200 million to $230 million and adjusted net income per common share increased to $0.68 to $0.75 from $0.65 to $0.75. The company introduced full-year Adjusted Gross Margin guidance of 27% to 28% and expects third-quarter revenue of $310 million to $330 million.
The main execution points are orderbook conversion, delivery against the third-quarter revenue range, and achievement of the full-year adjusted-margin outlook. Management stated that it will continue to monitor market dynamics. The release also states that the Affordable Wire Management transaction is expected to close in the third quarter of 2026, subject to regulatory approvals and customary closing conditions.
Management, verbatim
ARRAY delivered a strong second quarter while achieving a significant company milestone, surpassing 100 gigawatts of cumulative tracker product shipments since our founding. For the third consecutive quarter, we achieved a record orderbook of $2.5 billion, reflecting continued share gains and strong execution.
Kevin G. Hostetler, Chief Executive Officer
Supported by our strong first-half financial performance, we are updating our full-year guidance. While we will continue to monitor market dynamics, we believe our $2.5 billion record orderbook, strong customer demand, and expanding solution set give us confidence in our ability to execute and create long-term value.
Kevin G. Hostetler, Chief Executive Officer
Not in the filing
stated, not guessed- Prior-year and prior-quarter values for revenue, gross margin, adjusted gross margin, net income to common stockholders, Adjusted EBITDA, GAAP EPS, and adjusted EPS were not provided in the supplied filing text.
- Revenue growth, gross-margin change, adjusted-gross-margin change, net-income change, Adjusted EBITDA change, and EPS growth rates were not provided for the corresponding financial line items.
- GAAP operating income, non-GAAP operating income, operating expenses, tax rate, operating cash flow, free cash flow, cash balance, debt balance, dividends, and share repurchases were not provided in the supplied filing text.
- Segment revenue, segment growth, and segment profitability were not provided in the supplied filing text.
- Prior outlook section from the previous release was not provided; therefore, no actual-versus-prior-guidance comparison is included.
- GAAP reconciliations for forward-looking adjusted measures were not provided because the company stated it was unable to provide them without unreasonable effort.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.