7Baggers

Array Technologies, Inc
(NASDAQ:ARRY) 

ARRY stock logo

Array Technologies, Inc. manufactures and supplies solar tracking systems and related products for customers in the United States and internationally. Its products include DuraTrack HZ v3, a single-axis solar tracking system; and SmarTrack, a machine learning software that is used to identify the op...

Founded: 1989
IPO Price: $22 (Oct 15, 2020)
Full Time Employees: 369
CEO: James M. Fusaro  
Sector: Technology
Industry: Solar
SolarTechnology
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 
                           
      revenue
    		223,412,000 226,044,000 393,491,000 362,243,000 302,363,000 275,232,000 231,406,000 255,766,000 153,403,000 341,615,000 350,438,000 507,725,000 376,773,000 402,071,000 515,024,000 424,929,000 300,586,000 212,522,000 192,068,000 202,796,000 245,932,000   
      yoy
    		-26.11% -17.87% 70.04% 41.63% 97.10% -19.43% -33.97% -49.63% -59.29% -15.04% -31.96% 19.48% 25.35% 89.19% 168.15% 109.54% 22.22%       
      qoq
    		-1.16% -42.55% 8.63% 19.80% 9.86% 18.94% -9.52% 66.73% -55.09% -2.52% -30.98% 34.76% -6.29% -21.93% 21.20% 41.37% 41.44% 10.65% -5.29% -17.54%    
      cost of revenue
    		           357,683,000 275,594,000 321,551,000 434,801,000 377,553,000 273,999,000 209,587,000 182,789,000 176,009,000 202,074,000 131,186,750 112,731,000 
      cost of product and service revenue
    		154,794,000 171,391,000 283,386,000 261,479,000 222,296,000 193,273,000 149,452,000 166,173,000 94,674,000 253,746,000 259,419,000             
      amortization of developed technology and backlog
    		5,614,000 5,807,000 4,434,000                     
      total cost of revenue
    		160,408,000 206,714,000 287,820,000 265,119,000 225,935,000 196,913,000 153,091,000 169,813,000 98,313,000 257,386,000 263,059,000             
      gross profit
    		63,004,000 19,330,000 105,671,000 97,124,000 76,428,000 78,319,000 78,315,000 85,953,000 55,090,000 84,229,000 87,379,000 150,042,000 101,179,000 80,520,000 80,223,000 47,376,000 26,587,000 2,935,000 9,279,000 26,787,000 43,858,000 35,452,000 26,731,000 
      yoy
    		-17.56% -75.32% 34.93% 13.00% 38.73% -7.02% -10.37% -42.71% -45.55% 4.61% 8.92% 216.70% 280.56% 2643.44% 764.57% 76.86% -39.38% -91.72% -65.29%     
      qoq
    		225.94% -81.71% 8.80% 27.08% -2.41% 0.01% -8.89% 56.02% -34.59% -3.60% -41.76% 48.29% 25.66% 0.37% 69.33% 78.19% 805.86% -68.37% -65.36% -38.92% 23.71% 32.63%  
      gross margin %
    		28.20% 8.55% 26.85% 26.81% 25.28% 28.46% 33.84% 33.61% 35.91% 24.66% 24.93% 29.55% 26.85% 20.03% 15.58% 11.15% 8.85% 1.38% 4.83% 13.21% 17.83% Infinity% Infinity% 
      operating expenses
    		                       
      general and administrative
    		50,404,000 57,465,000 52,248,000 44,954,000 43,945,000 45,663,000 40,149,000 36,971,000 37,784,000 43,710,000 37,432,000 40,250,000 38,142,000 42,896,000 38,911,000 31,509,000 39,827,000 22,695,000 18,493,000 15,113,000 24,673,000 20,862,000 11,873,000 
      change in fair value of contingent consideration
    		-2,586,000 -837,000 1,014,000 150,000 -150,000 396,000 -39,000 503,000 -735,000 732,000 190,000 705,000 1,338,000           
      depreciation and amortization
    		8,077,000 8,248,000 6,958,000 5,644,000 5,349,000 8,702,000 8,880,000 8,877,000 9,627,000 9,567,000 9,552,000 12,846,000 14,241,000 28,734,000 23,364,000 24,389,000 22,652,000 5,981,000 5,984,000 5,981,000 5,984,000 6,397,000 6,374,000 
      total operating expenses
    		55,895,000 167,436,000 60,220,000 50,748,000 49,144,000 220,665,000 210,990,000 46,351,000 46,676,000 54,009,000 47,174,000 53,801,000 53,721,000 73,104,000 61,703,000 54,220,000 58,748,000 30,301,000 25,413,000 21,081,000 30,805,000 37,692,000 31,838,000 
      income from operations
    		7,109,000 -148,106,000 45,451,000 46,376,000 27,284,000 -142,346,000 -132,675,000 39,602,000 8,414,000 30,220,000 40,205,000 96,241,000 47,458,000 7,416,000 18,520,000 -6,844,000 -32,161,000 -27,366,000 -16,134,000 5,706,000 13,053,000 -2,240,000 -5,107,000 
      yoy
    		-73.94% 4.05% -134.26% 17.11% 224.27% -571.03% -430.00% -58.85% -82.27% 307.50% 117.09% -1506.21% -247.56% -127.10% -214.79% -219.94% -346.39% 1121.70% 215.92%     
      qoq
    		-104.80% -425.86% -1.99% 69.98% -119.17% 7.29% -435.02% 370.67% -72.16% -24.84% -58.22% 102.79% 539.94% -59.96% -370.60% -78.72% 17.52% 69.62% -382.75% -56.29% -682.72% -56.14%  
      operating margin %
    		3.18% -65.52% 11.55% 12.80% 9.02% -51.72% -57.33% 15.48% 5.48% 8.85% 11.47% 18.96% 12.60% 1.84% 3.60% -1.61% -10.70% -12.88% -8.40% 2.81% 5.31% -Infinity% -Infinity% 
      interest income
    		2,387,000 1,756,000 2,977,000 3,800,000 3,319,000 4,092,000 4,223,000 4,782,000 3,680,000 2,206,000 3,425,000             
      interest expense
    		-5,563,000 -5,482,000 -5,046,000 -8,768,000 -8,035,000 -9,007,000 -8,264,000 -8,614,000 -8,940,000 -8,857,000 -13,064,000 -10,109,000 -9,500,000 -9,804,000 -8,746,000 -8,021,000 -6,942,000 -6,706,000 -13,109,000 -6,651,000 -9,009,000 -6,816,000 -673,000 
      foreign currency gain
    		161,000 16,000 -6,000 1,343,000 689,000 -3,442,000 -106,000 -468,000  68,250 207,000 260,000 -194,000 -813,000 -159,000 -1,736,000 3,863,000       
      other income
    		31,000 3,000 68,000     -1,794,000 814,000   125,000 194,000   -371,000 743,000    -78,000 -540,750 -29,000 
      total other expense
    		-2,984,000    -4,004,000 -3,967,000 -4,829,000 -6,094,000 -4,945,000       -10,128,000 -2,336,000 -7,114,000 -13,406,000 -6,773,000 -9,087,000 -6,958,000 -702,000 
      income before income tax expense
    		4,125,000 -152,820,000 43,444,000 56,879,000 23,280,000 -150,049,000 -137,504,000 33,508,000 3,469,000   87,211,000  -1,141,750 51,966,000  -34,497,000 -34,480,000 -29,540,000 -1,067,000 3,966,000 -9,198,000 -5,809,000 
      income tax expense
    		2,128,000 -7,074,000 9,941,000 13,617,000 6,534,000 -23,146,000 3,850,000 7,810,000 1,304,000 409,000 7,229,000 22,403,000  8,725,000 11,144,000  -12,443,000 -6,759,000 -3,988,000 -1,050,000 1,079,000 574,000 1,423,000 
      net income
    		1,997,000 -145,746,000 33,503,000 43,262,000 16,746,000 -126,903,000 -141,354,000 25,698,000 2,165,000 23,086,000 23,214,000 64,808,000 26,132,000 -9,110,000 40,822,000 -2,777,000 -22,054,000 -27,721,000 -25,552,000 -17,000 2,887,000 -9,772,000 -7,232,000 
      yoy
    		-88.07% 14.85% -123.70% 68.35% 673.49% -649.70% -708.92% -60.35% -91.72% -353.41% -43.13% -2433.74% -218.49% -67.14% -259.76% 16235.29% -863.91% 183.68% 253.32%     
      qoq
    		-101.37% -535.02% -22.56% 158.34% -113.20% -10.22% -650.06% 1086.97% -90.62% -0.55% -64.18% 148.00% -386.85% -122.32% -1570.00% -87.41% -20.44% 8.49% 150205.88% -100.59% -129.54% 35.12%  
      net income margin %
    		0.89% -64.48% 8.51% 11.94% 5.54% -46.11% -61.08% 10.05% 1.41% 6.76% 6.62% 12.76% 6.94% -2.27% 7.93% -0.65% -7.34% -13.04% -13.30% -0.01% 1.17% -Infinity% -Infinity% 
      preferred dividends and accretion
    		15,537,000 15,422,000 15,144,000 14,788,000 14,443,000 14,338,000 14,080,000 13,749,000 13,502,000 13,332,000 13,091,000 12,784,000 12,484,000 12,009,000 12,257,000 12,182,000 11,606,000 -10,236,000 -5,479,000     
      net income to common stockholders
    		-13,540,000                       
      income per common share
    		                       
      basic
    		-90 -1,050 120 190 20 -930 -1,020 80 -70 70 70 340 90 -140 190         
      diluted
    		-90 -1,050 120 190 20 -930 -1,020 80 -70 60 70 340 90 -140 190         
      weighted-average number of common shares outstanding
    		                       
      basic
    		152,956,000 152,537,000 152,727,000 152,584,000 152,076,000 151,754,000 151,923,000 151,797,000 151,351,000 150,942,000 151,068,000 150,919,000 150,607,000 149,819,000 150,322,000 150,203,000 148,288 129,984 130,955 126,994 126,994 121,467  
      diluted
    		152,956,000 152,537,000 154,090,000 153,068,000 152,783,000 151,754,000 151,923,000 152,207,000 151,351,000 152,022,000 152,323,000 152,129,000 151,795,000 149,819,000 151,382,000 150,203,000 148,288 129,984 130,955 126,994 127,298 121,514  
      goodwill impairment
    		     74,000,000 162,000,000                 
      gain on extinguishment of debts
    		 3,551,750  14,207,000                    
      total other income
    		 1,123,000 -2,007,000 10,503,000      -6,725,000 -9,762,000   -7,801,000 33,446,000         
      net income to common shareholders
    		 -161,168,000 18,359,000 28,474,000 2,303,000 -141,241,000 -155,434,000 11,949,000 -11,337,000 9,754,000 10,123,000 52,024,000 13,648,000 -21,119,000 28,565,000  -33,660,000 -37,957,000 -31,031,000     
      amortization of developed technology
    		   3,640,000 3,639,000 3,640,000 3,639,000 3,640,000 3,639,000 3,640,000 3,640,000             
      other expense
    		   -79,000 23,000         -6,750 -399,000   -408,000 -297,000 -122,000    
      other loss
    		     -415,500 -682,000                 
      foreign currency loss
    		        -499,000               
      cost of revenue:
    		                       
      operating expenses:
    		                       
      other income:
    		                       
      other (expense)
    		         -31,750 -446,000             
      legal settlement
    		              42,750,000         
      change in fair value of derivative assets
    		         -285,000 116,000 694,000 -1,950,000           
      income before taxes
    		         38,415,500 30,443,000             
      total other
    		           -9,030,000 -11,450,000           
      income before income tax (benefit) expense
    		            36,008,000           
      income tax (benefit) expense
    		            9,876,000           
      contingent consideration
    		             1,474,000 -572,000 -1,678,000 -3,731,000 1,625,000 936,000 -13,000 148,000 10,433,000 13,591,000 
      weighted-average number of common shares
    		                       
      basic
    		152,956,000 152,537,000 152,727,000 152,584,000 152,076,000 151,754,000 151,923,000 151,797,000 151,351,000 150,942,000 151,068,000 150,919,000 150,607,000 149,819,000 150,322,000 150,203,000 148,288 129,984 130,955 126,994 126,994 121,467  
      diluted
    		152,956,000 152,537,000 154,090,000 153,068,000 152,783,000 151,754,000 151,923,000 152,207,000 151,351,000 152,022,000 152,323,000 152,129,000 151,795,000 149,819,000 151,382,000 150,203,000 148,288 129,984 130,955 126,994 127,298 121,514  
      loss before income tax benefit
    		               -16,972,000        
      income tax benefit
    		               -14,195,000        
      net loss to common shareholders
    		               -14,959,000        
      loss per common share
    		                       
      basic
    		               -100        
      diluted
    		               -100        
      earnings per share
    		                       
      basic
    		                -0.23 -0.29 -0.24  0.02   
      diluted
    		                -0.23 -0.29 -0.24  0.02   
      weighted-average number of shares
    		                       
      basic
    		152,956,000 152,537,000 152,727,000 152,584,000 152,076,000 151,754,000 151,923,000 151,797,000 151,351,000 150,942,000 151,068,000 150,919,000 150,607,000 149,819,000 150,322,000 150,203,000 148,288 129,984 130,955 126,994 126,994 121,467  
      diluted
    		152,956,000 152,537,000 154,090,000 153,068,000 152,783,000 151,754,000 151,923,000 152,207,000 151,351,000 152,022,000 152,323,000 152,129,000 151,795,000 149,819,000 151,382,000 150,203,000 148,288 129,984 130,955 126,994 127,298 121,514  
      revenues
    		                     180,566,000 139,462,000 
      earnings per unit
    		                       
      basic and diluted
    		                     142.5 -60 
      weighted-average number of units
    		                       
      basic and diluted
    		                      119,994,000 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 
                             
        assets
      		                       
        current assets
      		                       
        cash and cash equivalents
      		200,702,000 244,388,000 221,516,000 377,271,000 348,324,000 362,992,000 332,372,000 282,320,000 287,620,000 249,080,000 174,010,000 155,966,000 147,756,000 133,901,000 62,778,000 51,046,000 49,491,000 367,670,000 116,391,000 17,682,000 19,133,000 108,441,000  
        restricted cash
      		1,291,000 1,596,000 1,587,000 1,499,000 1,169,000 1,149,000                  
        accounts receivable
      		292,327,000 271,578,000 378,592,000 367,175,000 282,575,000 275,838,000 282,117,000 309,719,000 229,224,000 332,152,000 427,664,000 502,363,000 414,712,000 421,183,000 485,174,000 457,900,000 390,921,000 236,009,000 177,462,000 153,610,000 121,921,000 118,694,000 118,098,000 
        inventories
      		167,973,000 150,374,000 180,885,000 177,966,000 186,875,000 200,818,000 195,697,000 165,639,000 178,695,000 161,964,000 216,018,000 206,857,000 254,624,000 233,159,000 269,775,000 329,951,000 299,010,000 205,653,000 173,126,000 137,666,000 124,705,000 118,459,000 96,515,000 
        prepaid expenses and other
      		217,126,000 201,108,000 83,969,000 114,543,000 157,348,000 157,927,000 92,096,000 91,259,000 78,884,000 89,085,000 45,029,000 42,740,000 46,381,000 39,434,000 41,309,000 52,831,000 46,495,000 33,649,000 18,193,000 11,597,000 15,639,000 12,423,000 6,302,000 
        total current assets
      		879,419,000 869,044,000 866,549,000 1,038,454,000 976,291,000 998,724,000 902,282,000 848,937,000 774,423,000 832,281,000 863,088,000 908,238,000 866,636,000 831,209,000 871,801,000 907,945,000 816,996,000 852,033,000 491,625,000 330,212,000 285,553,000 375,175,000 264,577,000 
        property, plant and equipment
      		62,136,000 58,225,000 54,664,000 35,081,000 28,740,000 26,222,000 27,629,000 26,677,000 26,689,000 31,886,000 29,521,000 30,674,000 25,864,000 23,174,000 20,024,000 17,802,000 16,878,000 10,692,000 10,202,000 9,763,000 9,740,000 9,774,000 9,620,000 
        lease assets
      		94,531,000 97,088,000                      
        goodwill
      		135,173,000 135,173,000 245,215,000 172,608,000 164,221,000 160,189,000 250,873,000 402,501,000 425,414,000 435,591,000 426,541,000 441,255,000 428,173,000 416,184,000 359,629,000 378,706,000 379,840,000 69,727,000 69,727,000 69,727,000 69,727,000 69,727,000 69,727,000 
        other intangible assets
      		224,921,000 238,579,000 244,484,000 174,346,000 176,347,000 181,409,000 301,599,000 307,591,000 339,177,000 350,396,000 353,923,000 375,527,000 379,374,000 386,364,000 384,084,000 421,862,000 470,690,000 174,753,000 180,630,000 186,507,000 192,383,000 198,260,000 204,573,000 
        deferred income tax assets
      		24,735,000 23,965,000 17,312,000 25,166,000 16,049,000 17,754,000 15,716,000 13,369,000 13,854,000 15,870,000              
        other assets
      		54,112,000 29,718,000 182,937,000 96,503,000 64,110,000 41,701,000 65,005,000 52,447,000 49,726,000 40,717,000 41,554,000 33,076,000 30,802,000 32,655,000 27,502,000 30,573,000 31,314,000 26,429,000 24,405,000 26,109,000 25,873,000 3,088,000 3,775,000 
        total assets
      		1,475,027,000 1,451,792,000 1,611,161,000 1,542,158,000 1,425,758,000 1,425,999,000 1,563,104,000 1,651,522,000 1,629,283,000 1,706,741,000 1,778,757,000 1,852,784,000 1,794,169,000 1,706,052,000 1,681,825,000 1,775,409,000 1,715,718,000 1,142,979,000 776,589,000 622,318,000 583,276,000 656,024,000 552,272,000 
        liabilities, redeemable perpetual preferred stock and stockholders' equity
      		                       
        current liabilities
      		                       
        accounts payable
      		142,172,000 143,994,000 231,876,000 161,248,000 153,781,000 172,368,000 149,202,000 112,489,000 93,404,000 119,498,000 171,730,000 188,633,000 200,585,000 170,430,000 199,358,000 231,798,000 187,466,000 91,392,000 84,703,000 81,377,000 71,823,000 82,755,000 47,300,000 
        accrued expenses
      		62,777,000                       
        income tax payable
      		5,685,000 4,687,000 2,479,000 4,982,000 8,734,000 5,227,000 1,437,000 3,368,000 7,030,000 5,754,000 6,143,000 16,711,000 11,833,000 6,881,000 10,587,000 3,034,000 6,452,000 60,000 629,000  10,224,000 8,814,000 8,528,000 
        deferred revenue
      		138,527,000 128,433,000 95,387,000 151,758,000 120,225,000 119,775,000 112,618,000 90,982,000 86,558,000 66,488,000 100,757,000 114,810,000 151,343,000 178,922,000 154,692,000 167,556,000 121,624,000 99,575,000 81,347,000 51,458,000 89,880,000 149,821,000 44,781,000 
        current portion of contingent consideration
      		10,248,000 14,551,000 17,666,000 2,563,000 2,528,000 1,193,000 1,873,000 1,918,000 1,888,000 1,427,000 1,814,000 1,809,000 1,811,000 1,200,000    1,773,000 2,168,000 1,908,000 9,567,000 8,955,000 18,123,000 
        current portion of warranty liability
      		12,018,000 10,844,000 4,234,000 2,369,000                    
        current portion of lease liabilities
      		7,587,000 7,662,000                      
        current portion of debt
      		9,464,000 10,315,000 22,595,000 36,257,000 34,472,000 30,714,000 28,055,000 29,221,000 22,496,000 21,472,000 38,767,000 37,450,000 34,382,000 38,691,000 47,686,000 51,494,000 48,180,000       
        other current liabilities
      		1,925,000 2,237,000 7,669,000 7,580,000 9,132,000 15,291,000 31,248,000 40,697,000 35,558,000 48,051,000 6,155,000 12,844,000 10,393,000 10,553,000 4,981,000 6,949,000 10,886,000 5,909,000 6,457,000 6,379,000 6,288,000   
        total current liabilities
      		390,403,000 377,012,000 458,489,000 468,335,000 408,493,000 437,814,000 374,888,000 337,579,000 283,662,000 335,691,000 400,510,000 434,953,000 470,585,000 465,262,000 513,121,000 515,292,000 433,124,000 245,305,000 214,495,000 168,129,000 232,339,000 289,103,000 146,690,000 
        deferred income tax liabilities
      		21,307,000 22,133,000 22,042,000 22,775,000 21,634,000 21,398,000 55,253,000 54,512,000 62,880,000 66,858,000 69,928,000 74,902,000 73,051,000           
        contingent consideration, net of current portion
      		11,882,000 12,739,000 11,212,000 5,294,000 5,179,000 7,868,000 6,792,000 6,786,000 6,313,000 8,936,000 7,805,000 7,620,000 6,914,000 7,387,000 7,113,000 7,686,000 9,363,000 12,804,000 10,784,000 10,108,000 10,272,000 10,736,000 16,135,000 
        warranty liability, net of current portion
      		5,209,000 5,466,000 5,984,000 5,606,000                    
        lease liabilities, net of current portion
      		89,197,000 89,552,000                      
        accrued expenses and other
      		 54,289,000 76,583,000 101,578,000 77,576,000 91,183,000 48,952,000 57,265,000 34,449,000 70,211,000 72,638,000 61,156,000 58,795,000 54,895,000 91,102,000 51,072,000 54,837,000 38,494,000 31,256,000 19,129,000 34,551,000 29,164,000 22,740,000 
        long-term debt
      		 658,664,000 658,378,000 657,591,000 644,520,000 646,570,000 648,318,000 651,522,000 657,708,000 660,948,000 658,879,000 702,485,000 705,827,000 720,352,000 725,109,000 793,557,000 778,248,000 711,056,000 299,212,000 493,945,000 391,682,000 423,970,000  
        other long-term liabilities
      		 25,838,000 50,467,000 17,262,000 17,311,000 18,684,000 16,885,000 18,613,000 19,260,000 20,428,000 21,820,000 16,117,000 13,939,000 14,808,000 9,113,000 9,723,000 7,102,000 5,557,000 2,953,000 4,273,000 6,055,000   
        total liabilities
      		 1,191,404,000 1,206,572,000 1,176,863,000 1,102,158,000 1,137,164,000 1,106,025,000 1,073,047,000 1,033,297,000 1,096,233,000  1,240,492,000 1,274,785,000 1,282,201,000 1,332,447,000 1,415,133,000  974,722,000 534,027,000 690,927,000 653,391,000 736,923,000 175,012,000 
        commitments and contingencies
      		                       
        accrued warranty reserve
      		    2,045,000 2,063,000 1,503,000 1,639,000 2,279,000 2,790,000 2,506,000 1,540,000 1,443,000 3,690,000 4,237,000 2,911,000 3,201,000 3,192,000 3,025,000 2,968,000 3,098,000 3,049,000 2,884,000 
        long-term warranty
      		    5,021,000 4,830,000 3,889,000 4,035,000 3,474,000 3,372,000 3,421,000 4,415,000 4,469,000 1,786,000 3,852,000 4,056,000 4,743,000       
        series a redeemable perpetual preferred stock: 0.001 par value...
      		     406,931,000    351,260,000    299,570,000          
        income tax receivables
      		          367,000 312,000 3,163,000 3,532,000 12,765,000 16,217,000 31,079,000 9,052,000 6,453,000 9,657,000 4,155,000 17,158,000 16,518,000 
        current assets:
      		                       
        derivative assets
      		          64,130,000 64,014,000 63,320,000           
        current liabilities:
      		                       
        deferred tax assets
      		             16,466,000 18,785,000 18,521,000  9,345,000      
        deferred tax liability
      		             72,606,000 74,139,000 84,819,000 92,931,000  6,583,000 14,472,000 13,043,000 13,114,000 12,187,000 
        stockholders’ equity
      		                       
        liabilities and stockholders' equity
      		                       
        accounts payable - related party
      		              478,000 478,000 478,000 610,000 610,000 610,000 2,608,000 2,232,000 2,232,000 
        long-term liabilities
      		                       
        total long-term liabilities
      		              819,326,000 899,841,000 892,387,000 729,417,000 319,532,000 522,798,000 421,052,000 447,820,000 28,322,000 
        liabilities and stockholders' deficit
      		                       
        current portion of term loan
      		                 4,300,000 4,300,000 4,300,000 4,300,000   
        series a redeemable perpetual preferred stock of 0.001 par value - 500,000 authorized; 350,000 and none issued as of december 31, 2021 and 2020, respectively; liquidation preference of 350.0 million and none as of december 31, 2021 and 2020, respectively
      		                 237,462,000      
        stockholders’ deficit
      		                       
        preferred stock of 0.001 par value - 4,500,000 authorized; none issued as of december 31, 2021 and 2020, respectively
      		                       
        liabilities and stockholders' equity/
      		                       
        liabilities and member’s equity/stockholders’ deficit
      		                       
        current portion of long-term debt
      		                     4,313,000  
        current portion of related party loans
      		                       
        member’s equity
      		                      377,260,000 
        preferred stock of 0.001 par value - authorized 5,000,000 shares as of december 31, 2020; none issued as of december 31, 2020
      		                       
        cash
      		                      27,144,000 
        liabilities and members' equity
      		                       
        revolving loan
      		                      102,000 
        current portion of term loan and related party loans
      		                       
        total liabilities and members’ equity
      		                      552,272,000 
        revenues
      		                      139,462,000 
        cost of revenue
      		                      112,731,000 
        gross profit
      		                      26,731,000 
        operating expenses
      		                       
        general and administrative
      		                      11,873,000 
        contingent consideration
      		                      13,591,000 
        depreciation and amortization
      		                      6,374,000 
        total operating expenses
      		                      31,838,000 
        income from operations
      		                      -5,107,000 
        other income
      		                      -29,000 
        interest expense
      		                      -673,000 
        total other income
      		                      -702,000 
        income before income tax expense
      		                      -5,809,000 
        income tax expense
      		                      1,423,000 
        net income
      		                      -7,232,000 
        earnings per unit
      		                       
        basic and diluted
      		                      -60 
        weighted-average number of units
      		                       
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 
                              
          operating activities
        		                      
          net income
        		1,997,000 -145,746,000 33,503,000 43,262,000 16,746,000 -126,903,000 -141,354,000 25,698,000 2,165,000 23,086,000 23,214,000 64,808,000 26,132,000 -9,110,000   -22,054,000 -27,721,000 -25,552,000 -17,000 2,887,000 -9,772,000 
          adjustments to reconcile net income to cash from operating activities:
        		                      
          provision for bad debts
        		195,000  -909,000 239,000 1,671,000  1,719,000 800,000 896,000              
          deferred tax expense
        		-1,596,000 -3,553,000   1,024,000    -13,000  -532,000 -3,739,000 4,555,000  -10,944,000       927,000 
          depreciation and amortization
        		9,751,000 9,845,000 7,735,000 6,256,000 5,932,000 9,206,000 9,559,000 9,331,000 10,125,000 9,950,000 2,626,000 13,159,000 14,533,000 29,852,000 23,628,000 24,556,000 23,023,000 6,492,000 6,490,000 6,483,000 6,481,000 6,887,000 
          amortization of developed technology and backlog
        		5,614,000 5,807,000                     
          amortization of debt discount and issuance costs
        		876,000 809,000 950,000 1,951,000 1,506,000 1,435,000 1,551,000 1,548,000 1,553,000 1,447,000 4,125,000 2,172,000 2,826,000 1,854,000 1,717,000 1,576,000 1,710,000 1,383,000 8,535,000 1,532,000 3,586,000 1,206,000 
          equity-based compensation
        		3,941,000 4,228,000 4,647,000 3,898,000 2,798,000 3,498,000 2,015,000 910,000 3,926,000 2,845,000 3,384,000 4,945,000 3,366,000 3,305,000 4,205,000 2,964,000 4,508,000 2,051,000 2,239,000 1,556,000 7,911,000  
          change in fair value of contingent consideration
        		-2,586,000 -837,000   -150,000 396,000 -39,000                
          warranty provision
        		3,341,000 6,983,000 4,954,000 3,616,000 1,720,000 3,127,000 97,000 1,077,000 -1,138,000 4,215,000 -28,000 43,000 436,000 -189,000 3,126,000 621,000 594,000 211,000 -120,000 123,000 302,000 320,000 
          inventory reserve
        		-526,000 155,000 678,000 1,843,000 839,000                  
          other non-cash
        		161,000 -15,000                     
          changes in operating assets and liabilities
        		-50,589,000                      
          net cash from operating activities
        		-29,421,000 43,640,000 27,363,000 43,841,000 -13,059,000 57,586,000 44,935,000 3,957,000 47,502,000 93,981,000 71,618,000 20,540,000 45,816,000   -10,667,000 -50,097,000 -97,350,000 -31,728,000 -91,961,000 -42,148,000 104,295,000 
          capital expenditures
        		-7,511,000 -7,476,000 -5,513,000 -6,631,000 -2,352,000 -1,701,000 -1,077,000 -2,131,000 -2,396,000 -5,374,000 -2,191,000 -5,541,000 -3,883,000   -1,538,000 -2,357,000 -1,105,000 -1,052,000 -630,000 -570,000 -728,000 
          free cash flows
        		-36,932,000 36,164,000 21,850,000 37,210,000 -15,411,000 55,885,000 43,858,000 1,826,000 45,106,000 88,607,000 69,427,000 14,999,000 41,933,000   -12,205,000 -52,454,000 -98,455,000 -32,780,000 -92,591,000 -42,718,000 103,567,000 
          investing activities
        		                      
          purchase of property, plant and equipment
        		-7,511,000 -7,476,000 -5,513,000 -6,631,000 -2,352,000 -1,701,000 -1,077,000 -2,131,000 -2,396,000 -5,374,000 -2,191,000 -5,541,000 -3,883,000 -3,929,000 -2,795,000 -1,538,000 -2,357,000 -1,105,000 -1,052,000 -630,000 -570,000 -728,000 
          net cash from investing activities
        		-7,511,000 -8,476,000 -170,429,000 -6,631,000 -2,352,000 -15,981,000 10,897,000 -2,102,000 -2,386,000 -5,206,000 -2,191,000 -5,541,000 -3,883,000 -3,931,000 -2,793,000 -1,540,000 -376,173,000 -1,105,000 -1,052,000 -2,605,000 -10,570,000 -728,000 
          financing activities
        		                      
          proceeds from issuance of other debt
        		24,218,000 42,492,000 51,595,000 49,202,000 7,862,000 74,035,000 6,340,000 10,401,000 2,283,000 2,795,000 36,715,000 17,332,000 6,469,000 -19,031,000 8,620,000 24,370,000 6,229,000      
          repayments of other debt
        		-27,412,000 -55,211,000 -64,427,000                    
          repayments of term loan facility
        		 0 0                    
          contingent consideration payments
        		-2,574,000 0 0 0 -1,204,000 0 0 0 -1,427,000 0 0 0 -1,200,000          
          other financing
        		-1,844,000 184,000 90,000 -1,109,000 -14,000                  
          net cash from financing activities
        		-7,612,000 -12,535,000 -12,742,000 -11,051,000 -1,725,000 397,000 -8,097,000 431,000 -4,575,000 -17,319,000 -45,128,000 -15,552,000 -23,762,000 -24,706,000 -89,551,000 21,961,000 100,736,000 349,734,000 131,489,000 93,115,000 -36,590,000 -22,270,000 
          effect of exchange rate changes on cash and cash equivalent balances
        		553,000 252,000 141,000 3,118,000 2,488,000 -10,233,000 2,317,000 -7,586,000 -2,001,000 3,614,000 -6,255,000 8,763,000 -4,316,000 2,290,000 -711,000 -8,199,000 7,355,000      
          net change in cash and cash equivalents and restricted cash
        		-43,991,000  -155,667,000 29,277,000 -14,648,000                  
          cash and cash equivalents, and restricted cash beginning of period
        		245,984,000  0 0 364,141,000                  
          cash and cash equivalents and restricted cash, end of period
        		201,993,000 22,881,000 -155,667,000 29,277,000 349,493,000                  
          operating activities:
        		                      
          adjustments to net income:
        		                      
          goodwill impairment
        		     74,000,000                 
          impairment of long-lived assets
        		                      
          provision for credit losses
        		                      
          gain on extinguishment of debt
        		                      
          gain on debt refinancing
        		                      
          inventory valuation charge
        		                      
          changes in operating assets and liabilities, net of business acquisition:
        		                      
          accounts receivable
        		     -442,000 43,244,000 -97,369,000 95,990,000 99,164,000 74,675,000 -87,277,000 6,238,000 62,052,000 -27,424,000 -67,344,000 -44,268,000 -58,654,000 -23,829,000 -31,673,000 -2,692,000 -698,000 
          inventories
        		     -14,823,000 -22,757,000 4,335,000 -11,542,000 54,189,000 -10,290,000 46,156,000 -23,312,000 35,143,000 62,918,000 -30,941,000 -46,250,000 -32,863,000 -34,878,000 -14,197,000 -6,246,000 -20,652,000 
          income tax receivables
        		     33,000 -2,832,000 -1,315,000 2,000 -3,156,000 -55,000 2,851,000 369,000 9,221,000 3,452,000 14,862,000 -21,924,000 -2,599,000 3,204,000 -5,502,000 13,003,000 -640,000 
          prepaid expenses and other
        		     -24,505,000 -41,750,000 -1,234,000 -2,219,000 -8,700,000 1,152,000 3,655,000 -6,947,000 7,978,000 11,522,000 -6,336,000 5,960,000 -15,456,000 -6,596,000 4,042,000 -3,216,000 -6,121,000 
          accounts payable
        		     24,475,000 36,637,000 20,959,000 -23,891,000 -52,097,000 -16,099,000 387,000 30,155,000 -29,538,000 -32,440,000 15,094,000 59,551,000 6,689,000 3,326,000 9,178,000 -10,556,000 31,765,000 
          accrued expenses and other
        		     34,492,000 -19,756,000 35,397,000 -50,569,000 -13,159,000 11,387,000 3,197,000 3,900,000 -40,247,000 37,915,000 -3,671,000 7,027,000 7,450,000 12,224,000 -15,675,000 5,134,000 6,269,000 
          income tax payable
        		     3,790,000 -1,969,000 -3,619,000 935,000 2,674,000 -10,568,000 4,878,000 4,952,000 -3,706,000 7,553,000 4,158,000 -8,760,000 -569,000 629,000 -10,224,000 1,410,000 286,000 
          lease liabilities
        		     -2,894,000 -2,595,000 -663,000 -2,472,000 9,227,000 -9,464,000 590,000 824,000 1,870,000 -2,786,000 -1,385,000 6,085,000 -116,000 269,000 -179,000 247,000  
          deferred revenue
        		     8,443,000 20,050,000 6,820,000 20,250,000 -33,821,000 -14,053,000 -36,533,000 -27,579,000 24,230,000 -12,491,000 65,902,000 -18,639,000 17,855,000 29,889,000 -38,422,000 -59,941,000 105,040,000 
          other operating assets and liabilities
        		                      
          investing activities:
        		                      
          acquisition, net of cash acquired
        		 0                     
          retirement/disposal of property, plant and equipment
        		     -4,000 -1,000 29,000 10,000              
          cash payments for the acquisition of right-of-use assets
        		                      
          investment in securities
        		                      
          sale of equity investment
        		     0                 
          financing activities:
        		                      
          proceeds from issuance of convertible notes
        		 0 0                    
          premium paid on capped call
        		 0 0                    
          fees paid on issuance of convertible notes
        		 0 0                    
          repayments of convertible notes
        		 0 0                    
          net change in cash and cash equivalents
        		     31,769,000 50,052,000 -5,300,000 38,540,000 75,070,000 18,044,000 8,210,000 13,855,000 71,123,000 11,732,000 1,555,000 -318,179,000 251,279,000     
          cash and cash equivalents and restricted cash, beginning of period
        		                      
          gain on extinguishment of debts
        		  0                    
          changes in working capital
        		  -34,610,000 -5,547,000 -48,784,000                  
          deferred tax benefit
        		     -30,371,000 -3,778,000          6,649,000  -7,889,000 1,429,000 -71,000  
          amortization of developed technology
        		   3,640,000 3,639,000 3,640,000 3,639,000 3,640,000 3,639,000 3,640,000             
          loss on disposal of fixed assets
        		                      
          principal payments on other debt
        		    -7,294,000 -72,545,000 -12,208,000 -8,890,000 -3,781,000 -19,039,000 -30,767,000 -21,051,000 -17,206,000          
          principal payments on term loan facility
        		    -1,075,000 -1,075,000 -1,075,000 -1,080,000 -1,070,000 -1,075,000 -51,075,000 -11,075,000 -11,075,000     -1,075,000 -101,075,000 -1,075,000 -30,000,000  
          allowance for credit losses
        		                      
          write-down of inventories
        		     442,000 1,254,000 627,000 600,000 1,844,000 1,129,000 1,611,000 1,847,000          
          acquisition of sti, net of cash acquired
        		             -2,000 2,000 -2,000 -373,816,000      
          safe investment
        		                      
          proceeds from series a issuance
        		             0 0 0 33,098,000 0     
          proceeds from common stock issuance
        		             0 0 0 15,885,000 0     
          series a equity issuance costs
        		          -1,000 -758,000 -750,000 -726,000 -592,000 -400,000 -175,000 0     
          tax withholding related to vesting of equity-based compensation
        		     -18,000 -1,154,000 0 -580,000              
          common stock issuance costs
        		             0 0 0 -450,000 0     
          dividends paid on series a preferred
        		             0         
          payments on revolving credit facility
        		             0 -83,000,000   -24,033,000     
          proceeds from revolving credit facility
        		             0 15,000,000 49,000,000 52,000,000 24,033,000 0    
          supplemental cash flow information
        		                      
          cash paid for interest
        		     8,989,000 11,847,000 6,519,000 11,300,000 7,813,000 20,256,000 7,900,000 7,980,000          
          cash paid for income taxes
        		     2,746,000 8,219,000 16,599,000 402,000 9,145,000 18,313,000 15,962,000 2,522,000          
          non-cash investing and financing activities
        		                      
          dividends accrued on series a preferred
        		     7,246,000 7,132,000 6,945,000 6,837,000 6,803,000 6,696,000 6,521,000 6,350,000          
          stock consideration paid for acquisition of sti
        		             0 0 0 200,224,000      
          cash and cash equivalents, beginning of period
        		      0 0 249,080,000 0 0 0 133,901,000 0 0 0 367,670,000 0     
          cash and cash equivalents, end of period
        		      50,052,000 -5,300,000 287,620,000 75,070,000 18,044,000 8,210,000 147,756,000 71,123,000 11,732,000 1,555,000 49,491,000 251,279,000     
          contingent consideration gain
        		        -735,000              
          provision for (recovery of) bad debts
        		         2,644,000    1,939,000 150,000 365,000 145,000 107,000 -23,000 -16,000 -535,000 102,000 
          contingent consideration
        		         732,000 189,000 705,000 1,338,000 1,474,000 -572,000 -1,678,000 -3,731,000 1,625,000 936,000 -13,000 148,000 10,433,000 
          retirement/disposal of pp&e
        		                      
          investment in equity securities
        		                      
          series a equity issuance costs and commitment fees
        		                      
          debt issuance costs
        		                 0 0 0 -6,590,000  
          change in fair value of derivative assets
        		          -116,000 -694,000 1,950,000          
          warranty payments
        		                      
          dividends on series a preferred
        		                      
          adjustments to net income
        		                      
          benefit from bad debts
        		            233,000          
          changes in operating assets and liabilities, net of business acquisition
        		                      
          interest paid-in-kind
        		                     0 
          provision for inventory obsolescence
        		             1,474,000 -2,742,000 0 409,000 336,000 -582,000   -1,292,000 
          changes in operating assets and liabilities, net of acquisition
        		                      
          investment in equity security
        		                 0 0 -1,975,000 -10,000,000  
          proceeds from term loan facility
        		                      
          payments on related party loans
        		                     0 
          payment of special distribution
        		                      
          deferred offering costs
        		                     -2,689,000 
          cash flows from operating activities
        		                      
          adjustments to reconcile net income to net cash from, (used in) operating activities:
        		                      
          accounts payable - related party
        		              0 0 -132,000 0 0    
          net cash from, (used in) operating activities
        		                      
          cash flows from investing activities
        		                      
          cash flows from financing activities
        		                      
          principal payments on debt
        		              -10,909,000 -18,009,000 -4,368,000      
          net loss
        		                      
          adjustments to reconcile net loss to net cash from operating activities:
        		                      
          adjustments to reconcile net income to net cash from operating activities:
        		                      
          cash flows from (provided by) operating activities
        		                      
          adjustments to reconcile net income to net cash from (provided by) operating activities:
        		                      
          principal payments on term loan
        		                     0 
          proceeds from (payments on) revolving loan
        		                     -102,000 
          proceeds from issuance of common stock, net of underwriting discount and commissions
        		                      
          capital contribution
        		                      
          net decrease in cash, cash equivalents and restricted cash
        		                   -1,451,000 -89,308,000  
          cash, cash equivalents and restricted cash, beginning of period
        		                   0 108,441,000  
          cash, cash equivalents, and restricted cash, end of period
        		                   -1,451,000 19,133,000  
          changes in operating assets and liabilities:
        		                      
          internal-use software modification costs
        		                      
          proceeds from related party loan
        		                      
          debt discount and financing costs
        		                      
          proceeds from issuance of class a common stock, net of underwriting discount and commissions
        		                      
          net increase in cash, cash equivalents and restricted cash
        		                      
          cash, cash equivalents and restricted cash, beginning of year
        		                      
          cash, cash equivalents and restricted cash, end of year
        		                      
          equity based compensation
        		                      
          net decrease in cash and restricted cash
        		                      
          cash and restricted cash, beginning of year
        		                      
          cash and restricted cash, end of year