Segment Reporting

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

ASC 280 Segment Reporting establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Historically, the Company managed its business on the basis of one operating and reportable segment. Concurrent with the acquisition of STI in January 2022, the Company began operating as two segments; Array Legacy Operations and STI Operations.

The following table provides a reconciliation of certain financial information for the Company’s reportable segments to information presented in its condensed consolidated financial statements for the three and six months ended June 30, 2024 and 2023 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Revenue
Array Legacy Operations	$	185,160	$	345,261	$	299,541	$	650,465
STI Operations	70,606		162,464		109,628		234,033
Total	$	255,766	$	507,725	$	409,169	$	884,498
Gross Profit
Array Legacy Operations	$	77,306	$	102,950	$	126,392	$	182,785
STI Operations	8,647		43,452		14,651		61,157
Total	$	85,953	$	146,402	$	141,043	$	243,942