Array Technologies, Inc. (ARRY) Q2 2025 Earnings Call

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WEBVTT 00:00:00.000 -- 00:00:05.660 2026 and 2027 projects associated with our sole remaining 00:00:05.660 -- 00:00:09.060 legacy fixed-priced VCA. 00:00:09.120 -- 00:00:14.320 This effort resulted in an improved higher margin order book with a more diverse product 00:00:14.320 -- 00:00:15.960 mix. 00:00:15.960 -- 00:00:21.060 Excluding the legacy VCA project reconfiguring noted, our gross new bookings 00:00:21.060 -- 00:00:27.720 were approximately one times booked to bill and our customer mix continues to improve. 00:00:27.720 -- 00:00:33.040 Our direct engagement with utilities, developers, and independent power 00:00:33.040 -- 00:00:38.120 producers or IPPs pay dividends as the amount of our business with these 00:00:38.120 -- 00:00:41.540 tier one customers has accelerated. 00:00:41.760 -- 00:00:46.960 We continue to add new customers to our order book as well, and we remain committed to 00:00:46.960 -- 00:00:51.640 deepening our collaboration and relationships with the critical decision makers on solar 00:00:51.640 -- 00:00:53.180 projects. 00:00:53.180 -- 00:00:58.400 As of quarter end, roughly half of our order book now represents business 00:00:58.400 -- 00:01:03.460 directly with utilities, IPPs, and developers, several of 00:01:03.460 -- 00:01:08.760 which are new customers to array. A clear reflection of our strengthening the 00:01:08.760 -- 00:01:13.640 front end of our business and our commitment to deepening the collaboration and relationships 00:01:13.640 -- 00:01:17.140 with these critical decision makers. 00:01:17.140 -- 00:01:22.220 On the product mix front, we are excited by the accelerated market adoption 00:01:22.220 -- 00:01:27.360 of our new products, and as of today, our Omnitrack and Skylink new 00:01:27.360 -- 00:01:33.440 products now cons...