Array Technologies, Inc. (ARRY) Revenue History
Annual and quarterly revenue from 2018 to present
ARRY Revenue Over Time (2018–2025)
ARRY Revenue Growth History
4 of 7 years with positive growth- FY2018 revenue growth
- N/A
- FY2019 revenue growth
- +122.8%
- FY2020 revenue growth
- +34.7%
- FY2021 revenue growth
- -2.2%
- FY2022 revenue growth
- +91.9%
- FY2023 revenue growth
- -3.7%
- FY2024 revenue growth
- -41.9%
- FY2025 revenue growth
- +40.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $223.4M | -26.1% |
| Q4 2025 | $226.0M | -17.9% |
| Q3 2025 | $393.5M | +70.0% |
| Q2 2025 | $362.2M | +41.6% |
| Q1 2025 | $302.4M | +97.1% |
| Q4 2024 | $275.2M | -19.4% |
| Q3 2024 | $231.4M | -34.0% |
| Q2 2024 | $255.8M | -49.6% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown
ARRY's revenue distribution by segment and geography
By Geography
ARRY Revenue Analysis (2018–2025)
Current Revenue & Growth
As of June 21, 2026, Array Technologies, Inc. (ARRY) generated trailing twelve-month (TTM) revenue of $1.21 billion, reflecting significant decline in growth of -26.1% year-over-year. The most recent quarter (Q1 2026) recorded $223.4 million in revenue, down 1.2% sequentially.
Historical Growth Trajectory
ARRY's 5-year compound annual growth rate (CAGR) stands at +8.0%, indicating steady revenue expansion. The 3-year CAGR of -7.8% is below the 5-year average, signalling a growth deceleration in recent years. Array Technologies, Inc.'s highest annual revenue of $1.64 billion was recorded in 2022.
Peer Comparison
Compared to Energy sector peers — including SHLS (+37.8% YoY), FTCI (+73.0% YoY), and FSLR (+27.3% YoY) — ARRY has underperformed the peer group in revenue growth. Compare ARRY vs SHLS →
ARRY Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ARRYCurrent | $1.2B | -26.1% | +8.0% | 6.6% | |
 SHLS | $475M | +37.8% | +22.0% | 11.9% | |
 FTCI | $100M | +73.0% | -11.9% | -33.5% | |
 FSLR | $5.2B | +27.3% | +14.0% | 32.3% | |
 ENPH | $1.5B | -1.6% | +13.7% | 11.2% | |
 SEDG | $1.2B | +39.2% | -4.1% | -24.1% |
ARRY Historical Revenue Data (2018–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.28B | +40.2% | $272.4M | 21.2% | $84.3M | 6.6% |
| 2024 | $915.8M | -41.9% | $297.7M | 32.5% | $-227,005,000 | -24.8% |
| 2023 | $1.58B | -3.7% | $415.6M | 26.4% | $214.1M | 13.6% |
| 2022 | $1.64B | +91.9% | $212.7M | 13.0% | $-18,133,000 | -1.1% |
| 2021 | $853.3M | -2.2% | $68.3M | 8.0% | $-24,741,000 | -2.9% |
| 2020 | $872.7M | +34.7% | $202.8M | 23.2% | $95.2M | 10.9% |
| 2019 | $647.9M | +122.8% | $150.8M | 23.3% | $83.4M | 12.9% |
| 2018 | $290.8M | - | $11.6M | 4.0% | $-61,206,000 | -21.0% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
8+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
ARRY — Frequently Asked Questions
Quick answers to the most common questions about buying ARRY stock.
Is ARRY's revenue growth accelerating or slowing?
ARRY revenue is declining -26.1% year-over-year. TTM revenue fell to $1.2B, contrasting with the 5-year CAGR of +8.0%. The reversal reflects either macro headwinds or company-specific challenges.
What is ARRY's revenue history from 2018 to 2026?
Array Technologies, Inc. (ARRY) revenue history spans 2018 to 2026. TTM revenue as of 2026 is $1.2B, growing at -26.1% YoY. The 5-year CAGR is +8.0%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is ARRY's long-term revenue growth rate (CAGR)?
Array Technologies, Inc.'s 5-year revenue CAGR of +8.0% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -26.1% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for ARRY.
Why does ARRY's quarterly revenue fluctuate?
ARRY quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Array Technologies, Inc.'s revenue data from 2018 to 2026 shows full historical quarterly detail on this page.
How is ARRY's revenue distributed by segment?
ARRY reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does ARRY's revenue compare to industry peers?
Array Technologies, Inc. (ARRY) with TTM revenue of $1.2B and -26.1% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.