Array Technologies Business Summary

Array Technologies, Inc. (ARRY) generates revenue through the design, manufacture, and sale of utility-scale solar tracking systems, primarily its DuraTrack and OmniTrack single-axis trackers, alongside SmarTrack yield-optimization software and long-term operations and maintenance (O&M) services. The company operates through three primary business segments: Legacy Operations, which focuses on its core North American tracker business; STI Operations, established via the acquisition of STI Norland to capture international markets in Europe and Latin America; and APA Solar, which provides specialized foundation and fixed-tilt solutions. Array maintains a dominant market position as the world’s second-largest solar tracker supplier by shipments, trailing only Nextracker (NXT) while competing directly with Arctech, PVHardware, and Soltec in a highly consolidated global landscape. Founded in 1989 by solar pioneer Ron Corio, Array is currently led by Chief Executive Officer Kevin Hostetler, who joined in 2022 after a successful tenure as CEO of Rotork. The executive leadership team includes H. Keith Jennings as Chief Financial Officer (appointed January 2025), Neil Manning as President and COO, and Aaron Gabelnick as Chief Strategy and Technology Officer. The company’s strategic direction is overseen by a board chaired by Brad Forth, a senior partner at Neos Partners with deep energy transition expertise. Notable institutional investors include Blackstone and Oaktree Capital Management—both of which have provided significant historical backing—alongside major public shareholders such as BlackRock and The Vanguard Group.