ARRAY’s Q3 2025 revenue rose 70% YoY to $393.5 million, driven by APA Solar acquisition and strong product demand
Its orderbook expanded to $1.9 billion, with over 95% from the US market and growing demand for its tracker models
The company is now advancing onshoring and domestic sourcing to reduce tariff exposure and leverage IRA incentives
US-based solar tracker manufacturer ARRAY Technologies has reported strong quarterly results, with revenue rising 70% year-on-year (YoY) and 9% sequentially to $393.5 million. The company attributed the growth to increased market share following its APA Solar acquisition and strong demand for new products.
APA Solar’s acquisition contributed $16.9 million to the group’s revenues during the reporting quarter. ARRAY’s investment in APA Solar expands its product portfolio with fixed-tilt and engineered foundation solutions (see North America Solar PV News Snippets).
Adjusted EBITDA of $72.2 million was the 2nd highest quarterly achievement in the company’s history, having risen 14% YoY, it added. A higher mix of domestic projects and ASP improvements contributed to a 30 bps increase in adjusted gross margin compared to the previous quarter. The company also posted a net income of $18.4 million, but it declined by $28.5 million in Q2 2025 (see ARRAY Delivers 20% Sequential Revenue Growth In Q2 2025).
On a year-to-date (YTD) basis, ARRAY said it has already grown its revenue to exceed $1 billion, surpassing its FY 2024 revenue of $915.8 million (see Array Technologies Meets Q4 2024 & FY2024 Revenue Guidance).
Its orderbook at the end of the quarter expanded to $1.9 billion, excluding APA for now, with more than 95% for the domestic market. In terms of products, around 40% of this pipeline comprises orders for OmniTrack, SkyLink, and Hail XP.
With APA Solar’s inclusion and a strong orderbook, one of the world’s leading tracker makers has now once again updated its FY 2025 guidance. It now expects revenues to range within $1.25 billion to $1.28 billion (comprising around $50 million APA revenue) and adjusted gross margin in the range of 27% to 28%. Adjusted EBITDA guidance has been lowered at the higher end, now expected to range from $185 million to $195 million.
“We expect the inclusion of APA will fuel top-line expansion and strong profitability,” said ARRAY CEO Kevin G. Hostetler. “We remain highly confident in our ability to execute through the remainder of 2025, supported by our strong operational performance and strategic initiatives.”
Looking ahead, ARRAY sees significant AI data center growth and onshoring of manufacturing in the US as the primary factors driving demand for solar. It will also seek larger volume commitment agreements after having signed a multi-year multi-GW portfolio with an independent power producer (IPP) in Q4 2025.
ARRAY’s President and COO, Neil Manning, shared that since the company sources from over 50 domestic and 100 international suppliers, it is able to offer a 100% domestic content tracker in the US, meeting the Department of the Treasury guidance.
On its Q3 earnings conference, management shared that it is strengthening its US manufacturing and supply chain to reduce tariff impacts and costs. By expanding facilities in Albuquerque and Ohio, shifting more production to US suppliers, and leveraging Inflation Reduction Act (IRA) incentives, ARRAY said it is cutting reliance on imports and minimizing exposure to steel and aluminum tariffs while improving cost control and supply flexibility.