Array Technologies, Inc. Q1 FY2026 earnings call

• Key achievements: Strong start to the year, $223M revenue, adjusted gross margin 30.7%, adjusted EBITDA $29M, 15% QoQ volume growth, record order book $2.4B. • Business highlights: Commercial momentum builds, new record order book, multiple Skylink deployments, international contracts in EMEA and Latin America, opened new 30,000-square-foot headquarters with research, testing, training center. • Strategic priorities: Innovation with Duratrac D2S tracker, international expansion with contracts in Turkey, Peru, Colombia, customer first culture with strong order book and book-to-bill ratio

Q1 revenue was $223 million. Adjusted gross margin reached 30.7%, adjusted EBITDA was $29 million. Volume increased ~15% QoQ. Record order book of $2.4 billion. Revenue contribution: domestic mix heavier, new products over half the order book. Adjusted gross margin for the year guided at 26 - 27%

• Reaffirming full year 2026 guidance across key metrics. • Adjusted gross margin outlook 26 - 27% unchanged. • Q2 revenue expected $300 - $320 million, Q2 adjusted gross margin at higher end of full year range, second-half margins influenced by international volume mix. • Expect to protect margins through focused execution, with innovation and diversification for future margin expansion

• Forward-looking statements subject to risks and uncertainties that may cause actual results to differ from statements. • Macro and regulatory backdrop remains fluid, including potential impacts from events like the war in Iran on logistics costs

Q: Talk about gross margin hedging strategy.

A: Took prudent approach to withstand shocks, has puts and takes in business, rising commodities and logistics offset by productivity gains and new product success.

Q: Impact of tax equity issue on timelines?

A: No material changes to schedule seen yet, backlog conversion rate shows backlog aligned to near-term delivery windows.

Q: Diversification with customers?

A: Seeing good traction with technical selling approach, new products in backlog over 50%, improving win rate.

Q: International business and margin?

A: APA taking market share in fixed tilt, international business selective and returns-focused, D2S developed for international markets.

Q: Order book conversion and new products?

A: ~80% of order book expected to convert over next six quarters, similar weighting of new products.

Q: International sales activity and acceleration?

A: Targeted and selective, looking for markets appreciating DuraTrac and OmniTrac platforms, D2S to launch in Munich.

Q: Freight cost impact and offset?

A: Working to adjust bid processes, renegotiating carrier agreements, optimizing routings, embedding into new bids