indicators. A detailed reconciliation between GAAP results and results excluding special items (“non-GAAP”) is included within this presentation. As such, for our 2021 outlook, we have not included estimates for these items and are unable to address the probable significance of the unavailable information, which could be material to future results. The below chart uses adjusted close instead of market close prices. ARRY Stock Price Chart Interactive Chart > ARRY Price/Volume Stats. The company grew its installed base 56% year-over-year in the fourth quarter to 75 platforms. Array Technologies Inc stock price, live market quote, shares value, historical data, intraday chart, earnings per share and news. ARRY, $ARRY, stock technical analysis with charts, breakout and price targets, support and resistance levels, and more trend analysis indicators For the three months ended December 31, 2019, other costs represent consulting fees for certain accounting, finance and IT services. Get Array BioPharma Inc historical price data for ARRY_old stock. Store Chart Settings. ARRY - Array Technologies Inc. Basic Chart Advanced Chart. You should review the reconciliation of net income (loss) to Adjusted EBITDA and Adjusted Net Income below and not rely on any single financial measure to evaluate our business. Price/Cash Flow: Latest closing price divided by the last 12 months revenue/cash flow per share. Gross margin decreased from 27% to 20% driven by less revenue to absorb fixed costs and project mix. As a result, we expect to see a more even distribution of our revenues throughout 2021 than we did in 2020, reflecting traditional construction seasonality with more of our revenue coming in the second and third quarters than the first and fourth quarters. Yahoo is part of Verizon Media. To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. Find the latest Array Technologies, Inc. (ARRY) stock quote, history, news and other vital information to help you with your stock trading and investing. Full Year 2021 Guidance For the full year 2021 ending December 31, 2021, the Company expects: Revenues to be in the range of $1,025 million to $1,125 millionAdjusted EBITDA(2) to be in the range of $164 million to $180 millionAdjusted net income per share(2) to be in the range of $0.82 to $0.92 “The midpoint of our revenue guidance represents a 23% year-over-year increase and reflects the strong demand we are seeing for our products. Basic Chart, Quote and financial news from the leading provider and award-winning BigCharts.com. In the U.S. market, we are continuing to grow our wallet share with existing customers as well as convert new customers to Array as demonstrated by our strong order book. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. While we currently expect commodity prices and shipping costs to normalize, the low end of our Adjusted EBITDA guidance range contemplates a delayed return to a normal pricing environment,” concluded Mr. Patel. Importantly, since our customers had no incentive to place orders in Q4, the size of our executed contracts and awarded orders at year end 2020 underscores the strength of the demand that we are seeing.” “Commodity prices and freight costs have increased significantly over the past several months as business activity levels are increasing in response to the availability of a COVID-19 vaccine and capacity that was idled during the pandemic comes back online. Array Technologies Stock Forecast, "ARRY" Share Price Prediction Charts Is "Array Technologies Inc" a Good Investment? We have several new products, product features and installation methods in development this year that we believe could significantly reduce the cost and labor required to install our tracker system and further extend our technology lead over competitors.” “We believe the tremendous tailwinds we have in solar today from government, businesses and consumers coupled with the innovations we are preparing to introduce to the market position us to deliver continued strong results for our shareholders,” concluded Mr. Fusaro. The replay will be available until 11:59 p.m. (ET) on March 23, 2021. Get It Now! Fourth Quarter 2020 Financial Results Revenues decreased 20% to $180.6 million, compared to $224.7 million for the prior-year period driven by decreases in the number of tracker systems delivered as a result of customers taking delivery for most orders during the first and second quarters in order to preserve the 30% ITC rate for their projects, resulting in fewer shipments in the fourth quarter when compared to the prior year. This was one of the hottest and most talked about IPOs of 2020. Shares have fallen since then and could be a buying opportunity at new 52-week lows set this week. The arrangement with RP Construction Services will increase our penetration of the small ground mount market which we believe is growing rapidly.In the first quarter of 2021, we made an investment in a technology company that has the potential to significantly reduce the cost of installing trackers. Free real-time prices, trades, and chat. Currency in USD. (d) Represents the estimated tax impact of all Adjusted Net Income add-backs, excluding those which represent permanent differences between book versus tax. ARRY: Get the latest Array Technologies stock price and detailed information including ARRY news, historical charts and realtime prices. Discover new investment ideas by accessing unbiased, in-depth investment research, NasdaqGM - NasdaqGM Real Time Price. Because of these limitations, Adjusted EBITDA and Adjusted Net Income should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP. The dark blue line represents the company's actual price. Adjusted net income increased 40% to $112.4 million, compared to $80.3 million during the same period in the prior year and adjusted basic and diluted adjusted net income per share was $0.93 compared to $0.67 during the same period in the prior year. (b) Represents certain legal fees and other related costs associated with (i) a patent infringement action against a competitor for which a judgement has been entered in our favor and successful defense of a related matter and (ii) a pending action against a competitor in connection with violation of a non-competition agreement and misappropriation of trade secrets. Fourth Quarter 2020 Highlights and Recent Developments During 2020, we added 38 new customers underscoring our ability to convert EPCs, developers to our tracker system which delivers superior functionality, reliability and total cost of ownership relative to competing products.On November 10, 2020, we entered into an agreement to supply 1.4 GW of our DuraTrack HZ v3 trackers and SmartTrack Software to Lightsource bp, a global solar energy project developer, valued at over $100 million. We consider these costs not representative of legal costs that we will incur from time to time in the ordinary course of our business. The elimination of the ITC step-downs in 2021 and 2022 take away the incentive for customers to place their orders in Q4 and take delivery in the first half. Cryptocurrencies. We also made a recent investment in a company with a unique technology that we believe could revolutionize the way utility-scale solar is installed.” “Cutting across all three of our growth strategies will be product innovation. They've been around for three decades but just recently did an IPO. Net loss was $9.8 million, compared to net income of $26.8 million during the same period in the prior year and basic and diluted loss per share were $0.08, compared to basic and diluted earnings per share of $0.22 during the same period in the prior year. 0. PlanTradePlanMM. The stock represents 1.6% of the ETF’s assets. ARRY. “I am proud of what the Array team accomplished in 2020. Full Year 2020 Financial Results Revenues increased 35% to $872.7 million, compared to $647.9 million for the prior-year period driven by increases in the number of tracker systems delivered. DoorDash reported $970 million in revenue in the last full fiscal year, beating a Street consensus of $935 million. The company launched six new workflows in 2020, enabling customers to find the best cell in new applications. Long. (Adjusted close factors in corporate or institutional level actions outside the market.) Going forward, the company announced plans to launch several new products including Opto Plasma B Discovery 4.0, which it says will “create a new gold standard for lead molecule discovery.” The Ark Genomic Revolution ETF (BATS: ARKG) owns 2.7 million shares of Berkley Lights valued at $145.2 million. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. (c) For the three months ended December 31, 2020, other costs represent (i) certain costs associated with our initial public offering and follow on offering of $3.2 million and, (ii) costs associated with our initial Board of Directors search for $0.1 million. Enter Symbol or Keyword. ARRY: Array Technologies, Inc. - Price and Consensus Chart. and (iii) costs associated with our initial Board of Directors search for $0.1 million. Find real-time ARRY - Array Technologies Inc stock quotes, company profile, news and forecasts from CNN Business. Deliveries under the arrangement are expected to commence in 2021 and continue through 2022. Average Share Price and Price Target by Month. See more from BenzingaClick here for options trades from BenzingaCathie Wood, Ark Funds Add Roblox Stock On IPO DayRocket Companies CEO Downplays Rising Interest Rates© 2021 Benzinga.com. The food delivery company has seen shares drop 25% in the last month alone. Array Technologies (ARRY) stock price, charts, trades & the US's most popular discussion forums. We compensate for these limitations by relying primarily on our GAAP results and using Adjusted EBITDA and Adjusted Net Income on a supplemental basis. ARRY stock quote, chart and news. Fourth Quarter 2020 Financial Highlights Revenue of $180.6 millionNet Loss of ($9.8) millionBasic and Diluted Net Loss per share of ($0.08)Adjusted EBITDA of $20.0 million(1)Adjusted Basic and Diluted Net Income per share of $0.08(1) Full Year 2020 Financial Highlights Revenue of $872.7 millionNet Income of $59.1 millionBasic and Diluted Net Income per share of $0.49Adjusted EBITDA of $160.5 million(1)Adjusted Basic and Diluted Net Income per share of $0.93(1) (1) A reconciliation of the GAAP to the most comparable Non-GAAP results is included below. ___________________________________ (2) A reconciliation of projected adjusted EBITDA and adjusted net income per share, which are forward-looking measures that are not prepared in accordance with GAAP, to the most directly comparable GAAP financial measures, is not provided because we are unable to provide such reconciliation without unreasonable effort. Related Link: Are Genomic Stocks The Next FANG Stocks Array Technologies: In October 2020, Array Technologies (NASDAQ: ARRY) went public bringing a new solar stock offering for investors. time frame. To learn more about Array Technologies, please visit the company's website at http://ir.arraytechinc.com. ARRY Long. Gross profit decreased 41% to $35.5 million, compared to $60.6 million in the prior year period driven primarily by lower revenues. Non-GAAP Financial InformationThis presentation includes unaudited financial measures that exclude items and therefore are not in accordance with U.S. generally accepted accounting principles (“GAAP”), including Adjusted EBITDA, Adjusted Net Income and Adjusted Net Income per share. EPS Surprise is the difference (expressed as a percentage) between the … All rights reserved. Forward-looking statements include statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” "seek," “should,” “will,” “would” or similar expressions and the negatives of those terms. The company, which manufactures ground-mounting systems used in solar energy products, reported fourth-quarter revenue of $180.6 million. ARRY 10-Year Price Chart: Below is a graph showing closing prices of Array BioPharma Inc (ARRY) for the past 10 years. Installation is a growing portion of the total cost of a solar energy project and the availability of skilled labor can be a constraint on our customers’ growth. The total was ahead of the Street consensus of $164 million. compare to. In the third quarter, the company had a backlog of $703 million of executed contracts and awarded orders. View live ARRAY TECHNOLOGIES INC chart to track its stock's price action. Long. A high-level overview of Array Technologies, Inc. (ARRY) stock. Outside of the U.S., we are in the process of building the sales, supply chain and fulfillment infrastructure we need to service international customers. Symbol Last Price; Stocks: Gainers. Recently Viewed. Find market predictions, ARRY financials and market news. Symbol Last Price; Trending Tickers. This $2.2 million is reflected in the "Other Expense" line in Adjusted EBITDA. 34.22-1.33 (-3.74%) At close: 4:00PM EST. Home; Quotes; News; Industries; Markets; Historical Quotes; MarketWatch Search. Full fiscal year revenue was up 13% year-over-year to $64.3 million. This company offers tracking solutions for solar panels, shifting them to track the sun directly. Gross profit increased 35% to $202.8 million, compared to $150.8 million in the prior year period driven primarily by higher revenues. Net income increased 49% to $59.1 million, compared to $39.7 million during the same period in the prior year and basic and diluted income per share was $0.49 compared to $0.33 during the same period in the prior year. The latest closing stock price for Array Technologies as of March 10, 2021 is 33.52. Executed Contracts and Awarded Orders Total executed contracts and awarded orders at December 31, 2020 was $705.3 million of which we expect to recognize $654.2 million during the 12 months ending December 31, 2021. In depth view into ARRY (Array Technologies) stock including the latest price, news, dividend history, earnings information and financials. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. Array’s engineers will use the facility to demonstrate how developers and EPCs can overcome these challenges using new technology developed by the company. Get Array Technologies, Inc.'s stock price today. As part of its IPO, the company hit on its plan to capture additional growth from international markets. The following table reconciles net income to Adjusted Net Income: Three Months Ended December 31, Year EndedDecember 31, 2020 2019 2020 2019Net income (loss) $(9,772) $26,780 $59,073 $39,745 Amortization of intangibles 6,313 6,313 25,250 25,250 Amortization of debt discount and issuance costs 1,206 964 3,366 3,968 Equity based compensation 1,545 799 4,809 799 Contingent consideration 10,433 462 26,441 640 ERP implementation costs(a) — 649 1,946 2,874 Legal expense(b) 169 675 1,068 3,915 Other costs(c) 3,255 38 5,821 2,836 Income tax expense of adjustments(d) (2,528) (1,998) (8,755) (8,984) Non-recurring income tax adjustments related to the IRS settlement and CARES Act — — (6,608) 9,284 Adjusted Net Income $10,621 $34,682 $112,411 $80,327 (a) Represents consulting costs associated with our enterprise resource planning system implementation. ARRY - Array Technologies Inc. Advanced Chart, Quote and financial news from the leading provider and award-winning BigCharts.com. Use real-time Cboe BZX data when available (U.S. Equities only): For U.S. equities, the chart will use real-time prices from the Cboe BZX Exchange when markets are in session and when Cboe BZX prices are available for the symbol on the chart (requires you to be logged in to your free Barchart account.) Analysts have begun to upgrade some beaten-down renewable stocks, which got expensive in 2020 and now face a broad-market shift to value. Berkeley Lights: Cell biology company Berkeley Lights (NASDAQ: BLI) went public in 2020 and saw shares double in five months. The conference call can be accessed live over the phone by dialing (877) 451-6152 (domestic) or (201) 389-0879 (international). ARRY Price Target Upside: 37.03% upside: 10.01% upside: 7.03% upside : N/A: Array Technologies (NASDAQ:ARRY) Consensus Price Target History. DoorDash: Shares of DoorDash Inc (NYSE: DASH) hit new 52-week lows on March 9. Announces Fourth Quarter & Full-Year 2020 Earnings Release Date and Conference Call. Array Technologies historical price data and ARRY charts. ARRY - Array Technologies Inc Stock quote - CNNMoney.com Markets Get the latest Price and Consensus Chart for Array Technologies, Inc. from Zacks Investment Research All rights reserved. We define Adjusted Net Income as net income (loss) plus (i) amortization of intangibles, (ii) amortization of debt discount and issuance costs (iii) equity based compensation, (iv) remeasurement of the fair value of contingent consideration, (v) ERP implementation costs, (vi) certain legal expense, (vii) other costs, and (viii) income tax (expense) benefit of adjustments. To help provide a sense of the short to long-term trend, included is an interactive Array Biopharma stock chart which you can easily adjust to the time frame of your choosing (e.g. For the year ended December 31, 2019, other costs represent (i) consulting fees for certain accounting, finance and IT services of $2.6 million and (ii) $0.2 million for the executive consulting costs. Among other limitations, Adjusted EBITDA and Adjusted Net Income do not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments; do not reflect the impact of certain cash charges resulting from matters we consider not to be indicative of our ongoing operations; do not reflect income tax expense or benefit; and other companies in our industry may calculate Adjusted EBITDA and Adjusted Net Income differently than we do, which limits their usefulness as comparative measures. We consider these costs not representative of legal costs that we will incur from time to time in the ordinary course of our business. Shares of DoorDash have traded between $130 and $256.09 over the last 52 weeks. ARRY over 38.45. The 12-month stock price forecast is 50.45, which is an increase of 44.02% from the latest price. Adjusted net income decreased 69% to $10.6 million, compared to $34.7 million during the same period in the prior year and adjusted basic and diluted adjusted net income per share was $0.08 compared to $0.29 during the same period in the prior year. 1 ARRY Stock's Price Graph & Average Annual Return. The passcode for the live call and the replay is 13716229. With efficient installation and terrain flexibility coupled with high reliability, durability, and performance, Array delivers a lower levelized cost of energy. Array Biopharma Stock Price History + Charts (ARRY) The following presents a detailed Array Biopharma stock price history for your review. Gross margin was flat versus the prior year period driven by reductions in the cost of purchased materials which offset higher logistics costs in the second half of the year caused by COVID-19 related freight increases. Shares of Array Technologies have traded between $29.05 and $54.78 over the last 52 weeks. Find out more about how we use your information in our Privacy Policy and Cookie Policy. It is based on a 60-month historical regression of the return on the stock onto the return on the S&P 500. According to 10 analysts, the average rating for ARRY stock is "Hold." SpinTrades. Prior to a year with an ITC step-down, we historically received most orders for the following year during the fourth quarter and shipped those orders during the first and second quarters which allowed our customers to preserve the higher ITC rate for their projects. NASDAQ:ARRY There Is Possibility For Cup -- Target First 47.04 -- Second Target 54.68 0. Array Technologies, Inc. Common Stock (ARRY) After-Hours Stock Quotes - Nasdaq offers after-hours quotes and extended trading activity data for US and global markets. Conference Call Information Array management will host a conference call today at 5:00 p.m. Eastern Time, to discuss the Company’s financial results. We expect to be able to accelerate the build-out later this year as travel restrictions and other challenges created by the pandemic abate. Operating expenses increased to $107.6 million compared to $67.4 million during the same period in the prior year primarily as a result of a $26.4 million expense related to the revaluation of contingent consideration mainly related to an earn-out obligation we have with our founder. Forward-looking statements include information concerning our projected future results of operations, business strategies, and industry and regulatory environment. We exceeded the high end of our guidance with revenues and adjusted EBITDA for the full year 2020 increasing 35% and 32%, respectively, versus last year. 2. Here is a look at three stocks at 52-week lows that could bounce. Current price $34.02 : 52-week high $54.78 : Prev. The lighter blue line represents the stock… Historical daily share price chart and data for Array Technologies since 2021 adjusted for splits. Access detailed information about the Array Technologies Inc (ARRY) Share including Price, Charts, Technical Analysis, Historical data, Array Reports and more. A telephonic replay will be available approximately two hours after the call by dialing (844) 512-2921, or for international callers, (412) 317-6671. The GAAP measures may include the impact of such items as non-cash share-based compensation, revaluation of the fair-value of our contingent consideration, and the tax effect of such items, in addition to other items we have historically excluded from adjusted EBITDA and adjusted net income per share. President Joe Biden and the new administration are seen as positive catalysts for the solar industry. Finally, in 2020 we had an increase in equity-based compensation of $4.0 million. chart style. Array Technologies, Inc. Array Technologies, Inc. (ARRY) Add to watchlist. For the three months ended December 31, 2019, other costs represent consulting fees for certain accounting, finance and IT services. The Company's focus on innovation, combined with its customer-centric approach, has helped achieve some of the industry's best returns. You can change your choices at any time by visiting Your Privacy Controls. Current Price 32.150 USD . We define Adjusted EBITDA as net income (loss) plus (i) interest expense, (ii) other (income) expense, (iii) income tax expense (benefit), (iv) depreciation expense, (v) amortization of intangibles, (vi) equity based compensation, (vii) remeasurement of the fair value of contingent consideration, (viii) ERP implementation costs, (ix) certain legal expense, and (x) other costs. Investor Relations Contact: Array Technologies, Inc.Investor Relations505-437-0010investors@arraytechinc.com Forward-Looking Statements This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. Investing.com has all the historical stock data including the closing price, open, high, low, change and % change. Mr. Patel continued “The two-year extension of the 26% investment tax credit (ITC) has significantly expanded the universe of viable projects in the U.S. which should lead to higher volumes as well as change how our customers time their orders. Shares of Berkeley Lights have traded between $47.28 and $113.53 over the last 52 weeks. Your list is empty. Additionally, in 2019 we recorded a $4.0 million benefit from the reversal of a bad debt expense for which we had no comparable benefit in 2020. This could be a case of shares falling too far too fast. Income from operations increased 14% to $95.2 million, compared to $83.4 million during the same period in the prior year. NasdaqGS - NasdaqGS Real Time Price. Loss from operations was $2.2 million, compared to income of $40.5 million during the same period in the prior year. The all-time high Array Technologies stock closing price was 51.05 on January 22, 2021. 7 Days Forecast. About Array Technologies, Inc. Array Technologies, Inc.Consolidated Balance Sheets (Unaudited)(In thousands) December 31, 2020 2019Assets Current Assets Cash and cash equivalents$108,441 $310,262 Restricted cash— 50,995 Accounts receivable, net118,694 96,251 Inventories, net118,459 148,024 Income tax receivables17,158 628 Prepaid expenses and other12,423 13,524 Total Current Assets375,175 619,684 Property, plant and equipment, net9,774 10,660 Goodwill69,727 69,727 Other intangible assets, net198,260 223,510 Other assets3,088 — Total Assets$656,024 $923,581 Liabilities and Member’s Equity/Stockholders’ Deficit Current Liabilities Accounts payable$82,755 $129,584 Accounts payable - related party2,232 5,922 Accrued expenses and other29,164 17,755 Accrued warranty reserve3,049 2,592 Income tax payable8,814 1,944 Deferred revenue149,821 328,781 Current portion of contingent consideration8,955 6,293 Current portion of long-term debt4,313 55,949 Current portion of related party loans— 41,800 Total Current Liabilities289,103 590,620 Long-Term Liabilities Deferred tax liability13,114 15,853 Contingent consideration, net of current portion10,736 11,957 Long-term debt, net of current portion, debt discount and issuance costs423,970 — Total Long-Term Liabilities447,820 27,810 Total Liabilities736,923 618,430 Commitments and Contingencies Member’s equity— 305,151 Stockholders’ Deficit Preferred stock of $0.001 par value - authorized 5,000,000 shares as of December 31, 2020; none issued as of December 31, 2020— — Common stock of $0.001 par value - authorized 1,000,000,000 shares as of December 31, 2020; issued: 126,994,467 as of December 31, 2020127 — Additional paid-in capital140,473 — Accumulated deficit(221,499) — Total member’s equity/stockholders’ deficit(80,899) 305,151 Total Liabilities and Member’s Equity/Stockholders’ Deficit$656,024 $923,581 Array Technologies, Inc.Consolidated Statements of Operations (Unaudited)(In thousands, except per share amounts) Three Months EndedDecember 31, Year EndedDecember 31, 2020 2019 2020 2019Revenues$180,566 $224,710 $872,662 $647,899 Cost of Revenue 145,114 164,114 669,861 497,138 Gross profit 35,452 60,596 202,801 150,761 Operating Expenses General and administrative 20,862 13,273 55,634 41,212 Contingent consideration 10,433 462 26,441 640 Depreciation and amortization 6,397 6,367 25,514 25,500 Total Operating Expenses 37,692 20,102 107,589 67,352 Income (Loss) from Operations (2,240) 40,494 95,212 83,409 Other Expense Other expense, net (142) (139) (2,305) (33) Interest expense (6,816) (4,918) (15,129) (18,797) Total Other Expense (6,958) (5,057) (17,434) (18,830) Income (Loss) Before Income Tax Expense (9,198) 35,437 77,778 64,579 Income Tax Expense 574 8,657 18,705 24,834 Net Income (Loss)$(9,772) $26,780 $59,073 $39,745 Earnings (Loss) per Share Basic$(0.08) $0.22 $0.49 $0.33 Diluted$(0.08) $0.22 $0.49 $0.33 Weighted Average Number of Shares Basic 125,918 119,994 121,467 119,994 Diluted 125,918 119,994 121,514 119,994 Array Technologies, Inc.Consolidated Statements of Cash Flows (Unaudited)(In thousands) Three Months EndedDecember 31, Year EndedDecember 31, 2020 2019 2020 2019Cash Flows from Operating Activities Net income (loss) $(9,772) $26,780 $59,073 $39,745 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Provision for (recovery of) bad debts 102 1 595 (3,986) Deferred tax (benefit) expense 927 7,783 (2,739) 22,322 Depreciation and amortization 6,887 6,829 27,474 27,316 Amortization of debt discount and issuance costs 1,206 964 3,366 3,968 Interest paid-in-kind — 576 3,421 2,832 Equity-based compensation 1,545 799 4,809 799 Contingent consideration 10,433 462 26,441 640 Warranty provision 320 1,143 953 1,387 Provision for inventory obsolescence (1,292) (459) 1,225 1,742 Changes in operating assets and liabilities: — — Accounts receivable (698) 22,533 (23,038) (40,708) Inventories (20,652) (54,544) 28,340 (94,594) Income tax receivables (640) 1,496 (16,530) 9,941 Prepaid expenses and other (6,121) (7,620) 1,101 2,228 Accounts payable 35,455 71,979 (50,519) 105,481 Accrued expenses and other 6,269 11,243 10,913 (1,978) Income tax payable 286 (514) 6,870 1,944 Deferred revenue 105,040 308,142 (178,960) 306,994 Contingent consideration (25,000) — (25,000) — Net Cash Provided by (Used in) Operating Activities 104,295 397,593 (122,205) 386,073 Cash Flows from Investing Activities Purchase of property, plant and equipment (728) (913) (1,338) (1,697) Net Cash Used in Investing Activities (728) (913) (1,338) (1,697) Cash Flows from Financing Activities Principal payments on term loan — (5,000) (57,702) (25,000) Proceeds from term loan facility 575,000 — 575,000 — Principal payments on term loan facility (115,000) — (115,000) — Proceeds from (Payments on) revolving loan (102) (33,271) (70) (39,078) Payments on related party loans — — (45,558) — Debt discount and financing costs (36,011) — (36,011) — Payment of special distribution (589,000) — (589,000) — Proceeds from issuance of Class A Common Stock, net of underwriting discount and commissions 145,532 — 145,532 — Deferred offering costs (2,689) — (6,464) — Capital contribution — — — 133 Net Cash Used in Financing Activities (22,270) (38,271) (129,273) (63,945) Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 81,297 358,409 (252,816) 320,431 Cash, Cash Equivalents and Restricted Cash, beginning of period 27,144 2,848 361,257 40,826 Cash, Cash Equivalents and Restricted Cash, end of period $108,441 $361,257 $108,441 $361,257 Array Technologies, Inc.Adjusted EBITDA and Adjusted Net Income Reconciliation (Unaudited)(In thousands) The following table reconciles net income (loss) to Adjusted EBITDA: Three Months EndedDecember 31, Year EndedDecember 31, 2020 2019 2020 2019Net income (loss)$(9,772) $26,780 $59,073 $39,745 Interest expense6,816 4,918 15,129 18,797 Other expense, net142 139 2,305 33 Income tax expense574 8,657 18,705 24,834 Depreciation expense574 516 2,224 2,066 Amortization of intangibles6,313 6,313 25,250 25,250 Equity-based compensation1,545 799 4,809 799 Contingent consideration10,433 462 26,441 640 ERP implementation costs(a)— 649 1,946 2,874 Legal expense(b)169 675 1,068 3,915 Other costs(c)3,255 38 3,589 2,836 Adjusted EBITDA$20,049 $49,946 $160,539 $121,789 (a) Represents consulting costs associated with our enterprise resource planning system implementation.