Array Technologies Inc. (ARRY) saw its stock plummet 21.45% in after-hours trading on Wednesday following the release of its fourth-quarter and full-year 2025 financial results.

The solar tracker manufacturer reported a net loss to common shareholders of $161.2 million for the fourth quarter, which included significant one-time charges. These comprised a $29.5 million inventory valuation charge related to phasing out non-compatible STI H250 inventory and a substantial $102.6 million non-cash goodwill impairment charge tied to its 2022 acquisition of STI.

Despite posting full-year revenue growth of 40% to $1.3 billion and providing forward guidance for fiscal 2026, the market reacted negatively to the quarterly net loss and the magnitude of the impairment and inventory charges disclosed in the earnings report.