Array Technologies, Inc.

Good afternoon. Welcome to Array Technologies' fourth quarter and full year 2025 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Sarah Shepard, Investor Relations at Array. Please go ahead.

Thank you. I would like to welcome everyone to Array Technologies' fourth quarter and full year 2025 earnings conference call. I am joined on this call by Kevin Hostetler, our CEO, Keith Jennings, our CFO, and Neil Manning, our President and COO. Today's call is being webcast via our investor relations site at ir.arraytechinc.com, where the related presentation and press release are also available. In addition, the press release and the presentation detailing our quarterly and full-year results have been posted on the website. Today's discussion of financial results includes non-GAAP measures. A reconciliation of GAAP to non-GAAP financial measures can be found in the related presentation and on our website. We encourage you to visit our website at arraytechinc.com for the most current information on our company. As a reminder, The matters we are discussing today include forward-looking statements regarding market demand and supply, our expected results, and other matters. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from statements made on this call. We refer you to the periodic reports we filed with the SEC for discussion of risks that may affect our future results. Although we believe that the expectations reflected in the forward-looking statements are reasonable, We cannot guarantee future results, levels of activity, performance, or achievements. We are under no duty to update any of the forward-looking statements to conform these statements to actual results, except as required by law. I'll now turn the call over to Kevin.

Thank you, Sarah. Good afternoon, everyone, and thank you for joining us. I'll begin by highlighting our key achievements from 2025 before transitioning to our strategic imperatives for 2026. Neil will provide additional detail on these objectives, and Keith will conclude with an in-depth review of our financial results and introduce our 2026 financial guidance. Then, we'll open the line for your questions. I'll begin on slide four. 2025 marked a year of pivotal growth, commercial momentum, and strategic execution for Array. We closed the year with nearly $1.3 billion in revenue achieving an exceptional 40% year-over-year increase supported by 35% tracker volume growth. This result underscores our team's unwavering dedication and resilience as we continue to outpace broader industry growth trends. Our profitability remains strong, with adjusted gross margin, adjusted EBITDA, and adjusted net income per share all landing within our guidance range. and adjusted net income delivering solid double-digit growth year over year. After the regulatory-related uncertainty throughout 2025, commercial activity built meaningfully as we exited the year, driving strong bookings momentum across our core markets and enhancing our visibility entering 2026. Importantly, we closed 2025 with a record $2.2 billion order book, reflecting both sustained customer demand and improved commercial execution across our portfolio. This performance was enabled by the commitment and discipline of our commercial teams as demonstrated by a two times book to bill for both total array and our recently acquired APA business. As committed last quarter, APA is now incorporated into our order book, contributing approximately $100 million. We remain highly confident in APA's growth trajectory, and APA, along with our recent new product introductions, now comprise close to half of our total order book value. Turning to slide five, I'd like to reflect on what has been a standout year for Array. Our progress and achievements are a direct testament to the strength, resilience, and commitment of our employees. Together, we didn't just meet challenges. We transformed them into opportunities to engage, evolve, and innovate, positioning Array for sustained growth. I'm especially proud of the successful completion of the APA acquisition, which brought over 200 talented new team members to our organizations. Our teams are seamlessly integrating and we are already unlocking meaningful value and expanding our share of wallet with customers. At APA, continuous innovation extends beyond engineered foundations to fixed tilt racking where the business holds a market-leading position. The team has some exciting new fixed tilt offerings slated to come out this year and we look forward to sharing more details in the coming quarters. Complementing the progress made on our balance of systems strategy, we continue to elevate the organization by investing in both our leadership team and our product portfolio, while at the same time optimizing our capital structure. We strengthen our leadership bench by bringing in seasoned executives with deep industry knowledge and relationships, fresh perspectives, and a proven execution capability. enhancing our ability to operate with discipline while accelerating growth. In parallel, driven by deep customer engagement, we broadened and upgraded our product portfolio to more effectively address the industry's most pressing challenges and better meet the evolving needs of our customers. Finally, by refinancing higher-cost debt and proactively managing our debt maturity profile, We improved our financial flexibility to support our next phase of strategic growth. I'm now on slide six. Our results in 2025 demonstrate that the foundation we've built is working, anchored by a talented team, a stronger product portfolio, a more resilient supply chain, and meaningful expansion through APA. Now, our focus shifts to how we build on that momentum capture emerging opportunities across the industry, and create lasting impact. This brings us to our 2026 Strategic Imperatives. This year, we're sharpening execution around three imperatives that operate as an integrated framework. Innovate our future, elevate our international business, and advance our customer-first culture. Against the backdrop of organizational and portfolio advancement, Our first strategic imperative for 2026 centers around innovation. At this stage in our company's evolution, innovation remains paramount. It is the core engine driving growth and bolstering our competitive positioning. We will continue to invest, both organically and inorganically, in differentiated technologies and solutions that enhance customer value and reinforce our role as a trusted technology partner. This does not just mean new product development, but also continually updating and improving our internal tools and processes. To this end, we've created a robust AI roadmap with plans to apply transformational technology in all areas of our business. I'm excited to share updates in the coming quarters of the enhancements we're making. Innovation is how we win, not only in product performance, but in customer experience, financial strength, and with the deliberate and targeted market expansion. It's the unifying catalyst that connects every element of our strategy, which is why it stands first among our 2026 strategic imperatives. As we anchor our strategy in innovation, we are equally focused on our second imperative, elevating our international business. While recent macro conditions in key markets such as Brazil and Spain have presented challenges, the broader international landscape presents compelling opportunities for growth. Key international markets are maturing and demanding more feature-rich capabilities. This also brings further opportunity to refine and adjust our global supply chain for enhanced scale and efficiency, and streamline research and development around a common leading platform. Our focus remains on discipline execution, positioning the right products in the markets where our differentiation and value proposition resonates with our customers and where they are willing to pay for it. As we position our international business for enhanced performance, Our third strategic imperative further strengthens our customer-first culture across the organization. At the end of the day, our growth depends on how we effectively satisfy our customers' needs, and to do this, we need to listen to, support, and partner with them. In 2025, we saw very clearly that when we focus on our customers' outcomes, strong business performance follows. We will continue to grow our order book and pipeline by engaging and thrilling our customers with our diverse offerings, quality level of service, and our differentiated value proposition that delivers measurable impact to our customers' economics. Together, our three strategic imperatives for 2026 form a unified strategy that drives our market-leading performance, expands our opportunities, and supports durable, long-term value creation. With that, I'll now turn it over to Neil to provide a deeper look at our strategic imperatives and how we will evaluate our success. Neil? Thank you, Kevin.