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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 256M | 66.7% |
| Gross Profit | 86M | 56% |
| Cost of Revenue | 170M | 72.7% |
| Operating expense | 46M | 0.7% |
| Net Income | 26M | 1087% |
| EBITDA | 48M | 120% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 1.65B | 1.4% |
| Total Liabilities | 1.07B | 3.8% |
| Total Equity | 200M | 13.5% |
| Shares Outstanding | 152M | 0.3% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 4M | 91.7% |
| Cash from investing | -2.1M | 11.9% |
| Cash from financing | 430,000 | 109.4% |
EPS
Financial Highlights for Array Technologies in Q2 '24
Array Technologies reported a revenue of 256M, which is a 66.7% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 86M, marking a 56% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 170M, a 72.7% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 46M, showing a -0.7% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 26M, showing a 1087% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 48M, showing a 120% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Array Technologies with growth in revenue, gross profit, and net income. An increase in the cost of revenue, higher than the revenue growth, suggests potential margin pressures.
