ARRAY TECHNOLOGIES, INC.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-52.2M | $-240.4M | $137.2M | $4.4M | $-50.4M | $59.1M | $39.7M | $-60.8M |
| Depreciation & Amortization | $26.2M | $36.1M | $38.9M | $101.1M | $25.9M | $27.5M | $27.3M | $28.5M |
| Depreciation | $6.1M | $4.4M | $2.6M | $2.4M | $2.4M | $2.2M | $2.1M | $1.9M |
| Amortization | $41.2M | $48.4M | $52.2M | $98.4M | $23.5M | $25.3M | $25.2M | $26.5M |
| Stock-Based Compensation | $15.6M | $10.3M | $14.5M | $15.0M | $13.8M | $4.8M | $799.0K | $0 |
| Net Cash from Operating Activities | $101.8M | $154.0M | $232.0M | $141.5M | $-263.2M | $-122.2M | $386.1M | $-11.7M |
| Investing Activities | ||||||||
| Capital Expenditures | $22.0M | $7.3M | $17.0M | $10.6M | $3.4M | $1.3M | $1.7M | $2.1M |
| Business Acquisitions | $164.9M | $0 | $0 | $373.8M | $0 | $0 | — | — |
| Net Cash from Investing Activities | $-187.9M | $-9.6M | $-16.8M | $-384.4M | $-15.3M | $-1.3M | $-1.7M | $-6.4M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-38.1M | $-11.8M | $-101.8M | $8.4M | $537.7M | $-129.3M | $-63.9M | $50.9M |
| Net Change in Cash | $-118.2M | $115.1M | $115.2M | $-233.8M | $259.2M | $-252.8M | $320.4M | $32.7M |
| Free Cash Flow | $79.8M | $146.7M | $215.0M | $130.9M | $-266.5M | $-123.5M | $384.4M | $-13.8M |