FTCI

+ Watchlist + Portfolio

FTC Solar, Inc.

GridBrain — Sign in

GridSentinel — Sign in

GridAegis — Sign in

Key Metrics

Previous Close: $2.24
52-Week Range: $2.12 – $12.75
Market Cap: $35.69M
P/E (TTM): —
EPS (TTM): -5.71
Dividend Yield: —

Advanced Metrics

Price/Book: —
PEG Ratio: —
Return on Equity: —
Return on Assets: -26.18%
Gross Margin: 2.99%
Operating Margin: -47.44%
Profit Margin: -53.61%
Current Ratio: 0.91
Debt/Equity: —
Total Debt: $24.27M
Free Cash Flow: $-14.28M
Revenue Growth: 30.80%
Earnings Growth: —
Enterprise Value: $51.07M

FTCI Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$123.07M	$127.00M	$47.35M	$99.69M
Cost of Revenue	$150.29M	$118.69M	$59.95M	$100.57M
Gross Profit	-$27.23M	$8.31M	-$12.59M	-$880.00K
Research & Development	$9.95M	$7.17M	$5.92M	$4.39M
Selling, General & Admin	$62.40M	$51.92M	$34.32M	$30.16M
Operating Expenses	$72.34M	$59.08M	$40.24M	$34.54M
Operating Income	-$99.57M	-$50.78M	-$52.83M	-$35.42M
EBITDA	-$97.30M	-$49.00M	-$46.04M	-$69.57M
Pretax Income	-$99.18M	-$50.63M	-$48.38M	-$79.05M
Income Tax	$435.00K	-$338.00K	$230.00K	$525.00K
Net Income	-$99.61M	-$50.29M	-$48.61M	-$79.58M
Diluted EPS	-9.80	-4.35	-3.83	-5.49
Diluted Shares	10.14M	11.55M	12.68M	14.01M

FTCI Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$44.38M	$25.23M	$11.25M	$21.11M
Receivables	$49.05M	$65.28M	$39.71M	$55.74M
Inventory	$14.95M	$3.90M	$10.14M	$9.63M
Current Assets	$118.69M	$108.51M	$76.13M	$97.77M
Total Assets	$134.40M	$123.07M	$89.93M	$111.81M
Current Liabilities	$60.34M	$54.66M	$49.07M	$68.22M
Long-Term Debt	—	—	$9.47M	$9.92M
Total Debt	$1.20M	$1.86M	$10.63M	$23.56M
Total Liabilities	$67.95M	$60.60M	$70.89M	$154.77M
Retained Earnings	-$248.84M	-$299.13M	-$347.74M	-$427.32M
Shareholders' Equity	$66.45M	$62.47M	$19.04M	-$42.96M
Working Capital	$58.35M	$53.84M	$27.05M	$29.54M
Net Debt	—	—	—	$1.50M

FTCI Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$54.51M	-$52.66M	-$34.70M	-$33.44M
Capital Expenditure	-$985.00K	-$816.00K	-$1.65M	-$1.13M
Free Cash Flow	-$55.49M	-$53.47M	-$36.34M	-$34.57M
Depreciation & Amortisation	$900.00K	$1.38M	$1.67M	$1.27M
Stock-Based Compensation	$20.30M	$8.29M	$5.41M	$4.96M
Investing Cash Flow	-$4.25M	-$397.00K	$6.26M	$2.80M
Financing Cash Flow	$903.00K	$33.95M	$14.50M	$40.40M
Share Repurchases	$0.00	$0.00	—	—
Net Change in Cash	-$57.85M	-$19.10M	-$13.94M	$9.76M

FTCI Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$20.80M	$19.99M	$26.03M	$32.86M	$17.27M
Cost of Revenue	$24.25M	$23.91M	$24.44M	$27.97M	$18.49M
Gross Profit	-$3.45M	-$3.92M	$1.59M	$4.89M	-$1.23M
Research & Development	$924.00K	$1.13M	$1.23M	$1.11M	$1.12M
Selling, General & Admin	$6.19M	$6.45M	$8.07M	$9.45M	$9.71M
Operating Expenses	$7.11M	$7.58M	$9.30M	$10.55M	$10.83M
Operating Income	-$10.56M	-$11.50M	-$7.71M	-$5.66M	-$12.06M
EBITDA	-$2.55M	-$14.36M	-$21.62M	-$31.05M	$37.05M
Pretax Income	-$3.56M	-$15.39M	-$23.89M	-$36.20M	$32.79M
Income Tax	$254.00K	$39.00K	$44.00K	$188.00K	$195.00K
Net Income	-$3.82M	-$15.43M	-$23.94M	-$36.39M	$32.60M
Diluted EPS	-0.58	-1.18	-1.61	-2.23	-0.72
Diluted Shares	14.59M	13.10M	14.90M	15.14M	22.40M

FTCI Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$5.91M	$3.52M	$24.37M	$21.11M	$5.64M
Receivables	$44.24M	$45.65M	$49.19M	$55.74M	$56.39M
Inventory	$6.83M	$7.32M	$7.66M	$9.63M	$9.43M
Current Assets	$71.10M	$70.30M	$96.59M	$97.77M	$83.82M
Total Assets	$84.06M	$82.95M	$111.53M	$111.81M	$97.85M
Current Liabilities	$50.90M	$60.63M	$58.13M	$68.22M	$63.45M
Long-Term Debt	$10.17M	$10.89M	$16.65M	$9.92M	$12.89M
Total Debt	$11.14M	$11.82M	$17.66M	$23.56M	$23.42M
Total Liabilities	$68.53M	$73.91M	$125.26M	$154.77M	$104.00M
Retained Earnings	-$351.56M	-$366.99M	-$390.93M	-$427.32M	-$394.72M
Shareholders' Equity	$15.53M	$9.04M	-$13.73M	-$42.96M	-$6.15M
Working Capital	$20.20M	$9.66M	$38.46M	$29.54M	$20.38M
Net Debt	$4.26M	$7.38M	—	$1.50M	$16.96M

FTCI Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$8.48M	-$2.30M	-$14.64M	-$8.03M	-$12.77M
Capital Expenditure	-$83.00K	-$185.00K	-$525.00K	-$336.00K	-$276.00K
Free Cash Flow	-$8.57M	-$2.48M	-$15.16M	-$8.36M	-$13.05M
Depreciation & Amortisation	$302.00K	$305.00K	$290.00K	$378.00K	$365.00K
Stock-Based Compensation	$280.00K	$936.00K	$1.13M	$2.62M	$3.34M
Investing Cash Flow	$3.12M	-$135.00K	-$432.00K	$244.00K	-$276.00K
Financing Cash Flow	$3.00K	$0.00	$35.90M	$4.50M	-$2.42M
Net Change in Cash	-$5.36M	-$2.43M	$20.83M	-$3.29M	-$15.47M

Market Snapshot

About

FTC Solar, Inc. is a provider of advanced solar tracker systems and technology solutions for utility-scale solar projects. The company's solar trackers use sophisticated algorithms and hardware to automatically adjust solar panel angles throughout the day to optimize energy production by following the sun's path. FTC Solar's products include single-axis trackers and software platforms that help maximize the efficiency and output of large-scale solar installations. The company serves solar project developers, independent power producers, and utilities globally. FTC Solar's technology aims to reduce the levelized cost of energy (LCOE) for solar power generation while improving project economics.