Array Technologies, Inc.

Greetings and welcome to Array Technologies first quarter and FY2026 earnings call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star and then zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce Sarah Shepard, Array's Head of Investor Relations. Thank you, and you may proceed, Sarah.

Thank you. I would like to welcome everyone to Array Technologies' first quarter 2026 earnings conference call. I'm joined on this call by Kevin Hofstetler, 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 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 file with the SEC for a 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 achievement. 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. Our performance this quarter reinforces that demand across our core and differentiated products remains strong and our adjusted gross margin is durable and execution driven. I'll begin by highlighting some key achievements from the first quarter, followed by a discussion of how our 2026 performance is trending and an update on our strategic priorities. I'll then pass it to Neil and Keith for an update on our product and operational initiatives and a walkthrough of our financial performance. Let's begin on slide four with a brief discussion of our financial highlights for the quarter. Q1 was a strong start to the year four array. We delivered $223 million in revenue and achieved significant profitability improvements with adjusted gross margins reaching 30.7 percent, a significant improvement versus the prior quarter and adjusted EBITDA came in at $29 million, an $18 million improvement sequentially. These numbers include one-time benefits of a little over 300 basis points. Volumes increased approximately 15% quarter over quarter, with revenue stable due to lower ASPs driven by project mix. Importantly, That volume growth combined with improved execution drove meaningful margin expansion sequentially, reinforcing that our profitability improvement in the quarter is execution-driven, not price-dependent. I'm pleased to report we achieved another record order book this quarter of $2.4 billion, marking the second consecutive quarter with a roughly two times book-to-bill ratio. We now have a 12-month trailing book-to-bill ratio of 1.3 times. I'll now turn to slide five to discuss our business highlights for the quarter. On the commercial front, our momentum continues to build. As noted, our new record order book of $2.4 billion represents growing traction across our new product introductions. We also began multiple deployments of Skylink reinforcing our ability to deliver on our innovative product roadmap. Internationally, we executed contracts in three expansion countries across EMEA and Latin America during the quarter, demonstrating the broadening reach of our global platform as we extend our industry-leading platforms internationally. Taken together, these updates reflect our execution-driven culture, investing in innovation, scaling new products, and expanding our geographic footprint, all while growing a high-quality order book positioning us well for the future. At APA, we officially opened our new 30,000-square-foot headquarters, bringing together our functional teams under one roof to drive closer collaboration and faster innovation cycles. Our campus now includes a dedicated research, testing, and training center for new product developments, anchored by a five-acre solar site where we can validate new product innovations in real-world conditions. This expanded facility also houses APA's Foundations Center of Excellence, which is central to delivering differentiated customer value through integrated offerings and strengthening the technical interoperability between APA Foundations and Array Tracker solutions. Moving to slide six, I'll revisit our strategic priorities for 2026 introduced on our last call. Q1 execution delivered tangible progress across all three pillars. First, innovation. We're introducing our highly anticipated Duratrac D2S tracker internationally, and the APA integration is progressing very well, broadening our product portfolio and tracker foundation interoperability. We're planning to host members of the investor community at APA around the first anniversary of our acquisition, where we will showcase our vision for APA within the array portfolio. We look forward to sharing more details on this event in the coming weeks. Second, international expansion. We executed Omnitrack and Duratrack contracts in Turkey, Peru, and Colombia, building real geographic diversification on a proven unified product platform. We believe the execution of our international strategy will only strengthen with our introduction of the D2S. Third, customer first culture. Our record order book and two times book to bill reflect strong customer confidence. Our technical sales efforts are lifting win rates through deeper engagement as we provide our customers with technical data supporting our elevated performance in real world conditions. As many of you are reading in recent industry reports, Array is showing up. Our priorities continue to work in concert. Innovation feeds our international expansion, and both are supported by the deep customer relationships we've built and continue to reinforce. We're executing with discipline, and the results this quarter validate our strategy. With that, I'll turn it over to Neil to discuss some of the proof points of our success against our priorities in greater detail.