ARRY · Nasdaq
It filed on time and stood behind its numbers. Of companies scoring zero, 4.0% were delisted, went bankrupt, restated or stopped filing within the following year.
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On March 2, 2023, Array Technologies, Inc. (the “Company”) filed a Notification of Late Filing on Form 12b-25 (the “Original Form 12b-25”) reporting that it required additional time to complete its Annual Report on Form 10-K for the period ended December 31, 2022 (the “Annual Report”) principally because the Company required additional time to (i) complete its review of its new subsidiaries’ financial information and consolidation of these results into the Company’s financial statements and (ii) correct errors in the unaudited condensed consolidated financial statements as of and for the quarter and year-to-date periods ended March 31, 2022, June 30, 2022 and September 30, 2022. This amendment to the Original Form 12b-25 is being filed to report that the Company will not be filing the Annual Report within the 15-day extension period provided by the Original Form 12b-25, as additional time is needed to complete the Annual Report. The Company is continuing in its efforts to file the Annual Report as soon as reasonably practicable. The Company does not expect that the anticipated timing of filing the Annual Report will affect any of the financial reporting covenants under the credit agreement, dated October 14, 2020, governing its term loan facility and revolving credit facility, or under the indenture, dated December 3, 2021, governing the Company’s 1.00% Convertible Senior Notes due 2028
NT 10-K/A, filed 2023-03-15 · accounts not ready
2023-04-10auditor changed or resigned SEC →
2023-03-31auditor changed or resigned SEC →
On March 2, 2023, Array Technologies, Inc. (the “Company”) filed a Notification of Late Filing on Form 12b-25 (the “Original Form 12b-25”) reporting that it required additional time to complete its Annual Report on Form 10-K for the period ended December 31, 2022 (the “Annual Report”) principally because the Company required additional time to (i) complete its review of its new subsidiaries’ financial information and consolidation of these results into the Company’s financial statements and (ii) correct errors in the unaudited condensed consolidated financial statements as of and for the quarter and year-to-date periods ended March 31, 2022, June 30, 2022 and September 30, 2022. This amendment to the Original Form 12b-25 is being filed to report that the Company will not be filing the Annual Report within the 15-day extension period provided by the Original Form 12b-25, as additional time is needed to complete the Annual Report. The Company is continuing in its efforts to file the Annual Report as soon as reasonably practicable. The Company does not expect that the anticipated timing of filing the Annual Report will affect any of the financial reporting covenants under the credit agreement, dated October 14, 2020, governing its term loan facility and revolving credit facility, or under the indenture, dated December 3, 2021, governing the Company’s 1.00% Convertible Senior Notes due 2028
Array Technologies, Inc., (the “Company”) has determined that it is unable to file its Annual Report on Form 10-K for the year ended December 31, 2022 (the “Annual Report”) by its original due date, March 1, 2023. As disclosed in the Company’s current report on Form 8-K filed with the Securities and Exchange Commission on January 12, 2022, the Company completed the acquisition (the “STI Acquisition”) of Soluciones Técnicas Integrales Norland, S.L.U. (“STI Spain”), a Spanish private limited liability company, and its subsidiaries (together with STI Spain, “STI”) on January 11, 2022. The Company is still in the process of reviewing the financial information of several of the foreign subsidiaries acquired through the STI Acquisition during the 2022 fiscal year. The process of completing the required review of our new subsidiaries’ financial information and consolidation of these results into the Company’s financial statements could not be completed prior to the Annual Report original due date of March 1, 2023. During the preparation of Company’s consolidated financial statements for the quarter and year ended December 31, 2022, the Company noted that the intangible assets acquired and goodwill recognized in connection with the STI Acquisition as of the acquisition date required a reclassification between the two balances. Additionally, the Company noted that the intangible assets acquired and goodwill recognized in connection with the STI Acquisition were not maintained in the appropriate functional currency . The net impact of the reclassification and the correction to the functional currency is expected to materially increase goodwill as well as other intangible assets, net, deferred tax liability and accumulated other comprehensive income (loss) on the Consolidated Balance Sheets for the quarters ended March 31, 2022, June 30, 2022 and September 30, 2022 (collectively, the “Affected Periods”)
2023-03-02accounts declared unreliable SEC →
2022-11-08accounts declared unreliable SEC →
2022-03-29accounts declared unreliable SEC →
Array Technologies, Inc., (the “Company”) has determined that it is unable to file its Annual Report on Form 10-K by its original due date, March 1, 2022, because the Company needs additional time to complete its year-end reporting process after becoming a large accelerated filer for the first time this past year and, also, to evaluate the accounting for certain transactions during the audit period. The Company is assessing the classification and recognition of its revenue for the sale of tracker products, which could reflect a change to the period in which revenue is recognized (the Company’s average contract is performed over a 3-5 month period). The Company is still evaluating whether any adjustments would be required and, if so, whether they would be material. It is important to note that there will not be a change in the aggregate revenue and profitability of any of the Company’s contracts over time. While the Company’s assessment is ongoing, the Company will not be able to provide the financial statements required to be included in its Annual Report for the fiscal year ended December 31, 2021. The Company intends to file the annual report as soon as practicable after its review is complete. Although the Company cannot estimate when it will complete its review, it is working diligently to do so
reportingrisk.com scores every active US filer on three things a company tells the SEC about itself: late-filing notices on Form NT, 8-K item 4.02 (past accounts declared unreliable) and 4.01 (auditor changes). 1,012 are flagged today.
Every score is frozen and checked twelve months later. Across 91,452 of them, a company scoring 4 or more ended that year delisted, bankrupt, restated or silent 17.2% of the time, against 4.0% for a clean record. Scores before 2026-09-27 were reconstructed from the filing history as it stood at each date, so the record is a backtest rather than years of live calls.
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Snapshot 2026-11-04 · data from SEC EDGAR (public domain) · not
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