everyone. Thanks and welcome Cody
In addition Financial joined Patel, to Nipul also Officer. Cody, I'm our Chief by
with I'm Let's results. highlights our across some of where strong has Board. provide yet I'll quarter performance the three, that another to second delivered say proud slide Array begin
delivered continue internal In For over also include revenue. $XXX does drive efforts not manufacturing revenue, from quarter, we year-over-year non-tracker develop our points in to growth. the basis Rather, benefits delivering X,XXX we higher-margin result any this out point savings to to the gross margin XX% initiatives It's on XX.X%. XXX credits. cost while the to IRA's important representing we quarter, by second million expanded year-over-year an impressive
the more at prior $XXX $XX to year's have half XXXX XXXX testament everyone we put was year. This To of XXXX the did quarter million, combined. and an this in EBITDA dedicated the context, in efforts Array. a from we almost for than focused in of is adjusted the full first increase and million EBITDA of Adjusted produced
include of quarter identified. the our and in value agreements bookings billion. order recorded book $X.X we nearly volume specifically the to start not ending not bringing where $XXX finally, been And any does commitment million have number date project This
I in we in the preliminary the heavily of bookings two to the very received of weighted last that after May. the months IRA will also quarter quarter middle note our were guidance
like also Directors very class always company I'd a recent of on with of and action of was were as point the rejection strong out claims shareholder filed decision that and lawsuit to We officers that dispute. XXXX. is the the dismissal in the plaintiff's Array's right that pleased side court's a affirmation view the this
bookings has market on would the last lot specific the offer be on dive to well Moving have share perspective of this dynamics few a how year. I US There discussion thought operates impacted to and next us and the momentum around as deeper helpful the of been so a slide. our it over obviously months, as that industry
gigawatt fact to have basis multiple megawatts, it having is large-scale good nearing demonstration in our XXX and that operates Legacy project are June note that individual a in a order its this characteristics. business average important book is our projects is with project of on we First, projects of the Array size size. own A but XXth each
become size the and and content including ease all changes, increasingly Key selection as important of our elements projects increases. flexibility panel domestic proposition, installation of our high value in commissioning of greater and
electrical elements sales cycle on of of and all have the and other like As components, through of and timing the obtainability availability regulatory dependent the also of, projects things we like labor. is aware delivery pace very project become modules, speed and
rarely and by linear. set and This we means certainly revenue are before one hurdles begin true is when it year that is bookings own most comparing deliveries. its This quarters. be of true timeframes, has can it of growth full project and Each but before extension,
only a individual or does defines impact medium-term business. is in can mean, and momentum characteristics that A few short not change trajectory projects quarter perceived on however, of the share. market any to bookings, our But this revenue,
At the XX% updated we XXXX basis. grown will on our midpoint XXXX to of business the Array by annual Legacy have organic nearly guidance, from an
quarterly from business our During that $XXX $XXX Legacy million. revenue ranging and million time, to million from to Array quarterly had have bookings million $XXX $XXX ranging
in profitable out and of individual To whether quarter. to one that, on while of quarters this a movements immediately path into our And even context reading one sequential to good the lowest or provide the I our more on caution offer point misleading. by followed QX, recently, points data much we largest have had bookings sustained wide I of outcomes range bad. quarterly growth, can be too this
momentum bit With this this but seeing to we longer for seeing a are as we year, relates term. background, specific let's characteristics about the the near-term, talk little more are the the it also both
First, on near-term. the
we the factors; project our of revenue rate two book, projects contained of will within that wins our is book the of largely in on forecast As dependent and previously, have outlook already order the two, new discussed window. and timing backfill buildup ship our one, assumed
order XX% that our midpoint assumptions covered assumed our When guidance of This updated our last by at reflected we we of outlook the quarter, book. figure pushout approximately time. project had our
For we quarters $XXX the approximately to those million had secure that to needed backfill, we XX% or orders. roughly remaining
we increasingly, a continued seen further the than a past have IRA clarity occurred. have combination rather of around over single anticipated. However, outs push driver, the availability of we There months, backlog. of for and few is module requirements not permitting one larger things couple challenges, level a but the One,
of from the additional already out shifted the timing XXXX saw has Array analysis. million XXXX. of revenue previous that This incremental an to had moved our clear, This get quarter, $XXX are in past assumed them To still we we these will to be XXXX. was projects of just pushouts deliver
of smaller customers approximately the minimizing newly have while causing issues bookings of projects. level represented before same would of begin we anticipated. December won on we construction those million to The than new XXXX incentive deliveries two, And added normally for pushouts quarter, also elevated XXst $XXX are orders this an percentage a
dynamics net these factors Nipul The in more near-term is discuss outlook, some revenue of our a outside or for market a indication of factors any The underlying lumpiness, share control. the in merely our two by which in year shift reduction not loss in significant of detail. impact in will It function reduction revenue an this driven is of industry. this quarterly of is
our worth additional June before that our high after at projects even to point, million we $XXX in bookings. our gross in that our our pipeline expectations. revenue we It the we full is midpoint of the awaiting sitting of margin final reduction by outlook, convert despite here they this million year important in illustrate are IRA raising $XXX bookings, year as adjusted lift EBITDA are full probability to note XX% XXth, have To an clarity guidance
over previously later, Vipul on revenue this deliver $XX in The drive will million on faster to additional EBITDA than also anticipated. million originally more we this allows $XXX ability more us will discuss lower cash but flow free had this forecast. to adjusted year flow to de-lever than cash
market on Our EBITDA valuation bidding when the performance in in is year. projects this important our very
product in number. hit We we a offering a to where compromise terms need are not or scenario topline pricing, to on
profitably, liked that are We growth have more we of deliver at an strategic not obviously we our efficient this extraordinarily to maintaining growing put capital while would additional confident we committed principles us to So, strong remain position XXXX. topline, comps. will as use all in while enter
proportion generation. our in our LCOE As we reliability an beyond, solar of we produces reduction for undoubtedly through supply ever-improving we of costs a to sustained with This look XXXX at the will others energy. in industry coupled improvements and in are electricity solar global as sentiments lead growth years a ahead chain, of energy output seeing echo and across greater
So, short-term forefront times this disruption, to our goals is which remain will of the focused again, ensure time-to-time happen that industry, on important at us strategic of from in when this growth. is hit to Array for it we
discuss more our I the page, what detail to we those next ensure margin to doing about If maintain you are and goals will turn industry-leading position. we in
been pricing on discipline outside it and what we would has to are margin provide expand helpful the which pricing by the something consistent insight and over additional doing past, mean of concept lead to in we I will improvement discussed be have thought of the work time. we While pricing, discipline into sustainable
to areas are There focus that on. broad we continue
First, target market. expanding our
provide quarters but discipline. now, have for to how wanted exactly additional I with a pricing this We insights some interacts into couple this of discussed
patent-protected DuraTrack. today, domestic As This only we our one our flagship provide operate continue industry-leading tracker to to have customers, tracker platform product. will we be
not is all technology it ideal the most projects. for However,
or conditions. terrain, undulating mild severely For example, weather
product, For to of these we the segments. to therein value diluting rapidly projects in compete proposition our offerings lower have currently, flagship these with price with growing characteristics, would other our
the may In chosen to range have has do the created on inconsistent because past, individual wide. more results margins which can we of so, be projects selectively
maintained introduction with it we our on have DuraTrack cost the flexible of the terrain to offers. discipline our tracker, been OmniTrack, have product. the lower that However, and and more take pricing willing our route, HXXX, not value recently, tracker we STI to protect
not The price only will enter targeted products universe we to lasting the at consistent also expand can of be more scale, projects we new be better of to our revenue As this but sustainable us effect performance. XXXX, margin available margins. will and allowing both where growth, achieve
compatibility cost. spans a multiple efficiently designing few. pile improving items Second, mounting name like overall and our to work only The installed reducing modules sites, more efficiently customers' more here including our disciplines,
We our customers' pending innovative will new moved launch, on and have either the over launched base. which cost a our recently dozen or solutions, needle
our thus and patents. around months, and as been XXX engineering investment patents applied for far have the last we in fact, have In increased in innovation, granted we've XX XXX
securing innovations more specifically previous the and XX combined. the optimizing and is of last panels. targeting sourced than months patents years Many in these XX applications of This domestically installation are granted the
move to we be cost like-for-like DuraTrack we on innovations. our installed of points XXXX to due compared will platform XXXX, lower the As these basis into base hundreds expect when
aftermarket offerings. in part like we maximizing This product productizing software, service a solely contracts, non-tracker on focus and Last business. our and this parts, engineering of higher-margin manager brought year, means Third, services. things to
a great results points on the in build uneven second impact offerings base, will drove as area example a power alternate of XXX we of to our in for our basis saw the margin. as streams these sales revenue while of the lift we quarter While gross this these our up be from
but process of and to the initiatives in maturation. There the that it crucial discussed is margin a lot business helpful I've thought Fourth, some The enhancements. past, reiterate leaks margin are reduced ones. and would opportunistic here I of key different be
ensures This that our First, we across have aligned one to company goal in broadly mind end all with changed our the on of members same structure growth. the shareholders. in the clearly sustained incentive have driving is focus functions and that profitable
XX streamlined, response to acting in customers. Second, to in that and business opportunities. processes mapped, our increasing XX process last speed we have over to changing to business months, cost savings of standardized capture and core to have been the instrumental our and are eliminate changes conditions ensure we waste our These ability quickly
in we facility manufacturing New have manufacturing Third, of instituted lean introduction with our Mexico, principles. the significant to changes Albuquerque,
this We reorganized of layout the changed material facility. have through flow and
last working And added compared in XX% year. of to capacity capital period doing additional environment, have safer the same the a not created by also increasing have when but we facility we the equipment, so, only
have more And accurately, to finally, input our price price this customers. new launched more offerings week, our system, we quote and dynamically quotes our to our turn as more costs capture us of allowing efficiently, configure
is on compound. indication to are of number time in improvements small sustained They in our work to raising has powerful prices customers. changes hard ongoing organization direct that of centered shareholder way a yet is that a necessary are been value a that These and the deliver over not
And of XXXX detailed with for the turn that, update more our will over guidance. I our an a to to Nipul financial discussion call and results
