FTC Solar, Inc.
Business
FTC Solar, Inc. is a global provider of solar tracker systems that integrate proprietary software and engineering services to increase energy production at utility-scale and distributed generation solar installations. Its main products and services include Voyager 2P and Pioneer 1P solar tracker systems, mounting solutions for thin-film modules, SUNPATH and SUNOPS software, and value-added engineering services such as site layout, structural design and pile testing. The company operates in a single business segment focused on the manufacturing and servicing of solar tracker systems, outsourcing production to contract manufacturers. It sells primarily to EPCs, developers and project owners across the United States, Asia, Europe, the Middle East, North Africa, South Africa and Australia through direct contracts and international subsidiaries.
Summary from filing dated 2025-03-31
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenue | 100 | 47 | 127 | 123 | 271 | |
| Total cost of revenue | 101 | 60 | 119 | 150 | 303 | |
| Gross loss | −880,000 | −13 | 8 | −27 | −33 | |
| Research and development | 4 | 6 | 7 | 10 | 12 | |
| Selling and marketing | 6 | 9 | 15 | 9 | 7 | |
| General and administrative | 24 | 25 | 37 | 54 | 76 | |
| Total Operating expenses | 35 | 40 | 59 | 72 | 94 | |
| Loss from operations | −35 | −53 | −51 | −100 | −127 | |
| Interest expense | −8 | −700,000 | — | — | — | |
| Interest income | 23,000 | 346,000 | — | — | — | |
| Gain from disposal of investment in unconsolidated subsidiary | 3 | 9 | 1 | 2 | 21 | |
| Gain on sale of Atlas | 140,000 | 906,000 | 0 | — | — | |
| Loss from change in fair value of warrant liability | −41 | −4 | 0 | — | — | |
| Loss on extinguishment of debt | −200,000 | 0 | 0 | 0 | 790,000 | |
| Bargain purchase gain | 377,000 | 0 | — | — | — | |
| Other income, net | 140,000 | 468,000 | −257,000 | — | — | |
| Income (loss) from unconsolidated subsidiary | 2 | −1 | −660,000 | — | — | |
| Loss before income taxes | −79 | −48 | −51 | −99 | −106 | |
| Provision for income taxes | −525,000 | −230,000 | 338,000 | −435,000 | −169,000 | |
| Net loss | −80 | −49 | −50 | −100 | −107 | |
| Foreign currency translation adjustments | 252,000 | −249,000 | −232,000 | −68,000 | 10,000 | |
| Comprehensive loss | −79 | −49 | −51 | −100 | −107 | |
| Basic | −5.68 | −3.83 | −4.35 | −0.98 | −1.24 | |
| Diluted | −5.68 | −3.83 | −4.35 | −0.98 | −1.24 | |
| Basic weighted-average number of common shares outstanding | 14 | 13 | 12 | 101 | 86 | |
| Diluted weighted-average number of common shares outstanding | 14 | 13 | 12 | 101 | 86 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 21 | 11 | 25 | 44 | 102 | |
| Accounts receivable, net of allowance for credit losses of $3,069 and $1,717 at December 31, 2025 and December 31, 2024, respectively | 56 | 40 | 65 | 49 | 108 | |
| Inventories | 10 | 10 | 4 | 15 | 9 | |
| Prepaid and other current assets | 11 | 15 | 14 | 10 | 17 | |
| Total current assets | 98 | 76 | 109 | 119 | 236 | |
| Operating lease right-of-use assets | 983,000 | 1 | 2 | 1 | 2 | |
| Property and equipment, net | 4 | 2 | 2 | 2 | 2 | |
| Goodwill | 7 | 7 | 7 | 8 | 0 | |
| Equity method investment | 0 | 954,000 | 240,000 | 0 | 0 | |
| Other assets | 2 | 2 | 3 | 4 | 4 | |
| Total assets at period end | 112 | 90 | 123 | 134 | 243 | |
| Accounts payable | 13 | 13 | 8 | 16 | 39 | |
| Short-term debt | 13 | 0 | — | — | 0 | |
| Accrued expenses | 24 | 20 | 35 | 24 | 48 | |
| Income taxes payable | 630,000 | 325,000 | 88,000 | 443,000 | 47,000 | |
| Deferred revenue | 7 | 5 | 4 | 11 | 1 | |
| Other current liabilities | 11 | 10 | 8 | 9 | 5 | |
| Total current liabilities | 68 | 49 | 55 | 60 | 93 | |
| Long-term debt | 10 | 9 | 0 | — | — | |
| Operating lease liability, net of current portion | 553,000 | 411,000 | 1 | 786,000 | 1 | |
| Warrant liability | 75 | 10 | 0 | — | — | |
| Other non-current liabilities | 2 | 2 | 5 | 7 | 6 | |
| Total liabilities | 155 | 71 | 61 | 68 | 100 | |
| Commitments and contingencies (Note 15) | — | — | — | — | — | |
| Preferred stock par value of $0.0001 per share, 10,000,000 shares authorized; none issued as of December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | 0 | 0 | |
| Common stock par value of $0.0001 per share, 850,000,000 shares authorized; 15,537,344 and 12,853,823 shares issued and outstanding as of December 31, 2025 and December 31, 2024 | 2,000 | 1,000 | 1,000 | 11,000 | 9,000 | |
| Treasury stock, at cost; 1,076,257 shares as of December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | 0 | 0 | |
| Additional paid-in capital | 385 | 367 | 362 | 315 | 292 | |
| Accumulated other comprehensive loss | −290,000 | −542,000 | −293,000 | −61,000 | 7,000 | |
| Accumulated deficit | −427 | −348 | −299 | −249 | −149 | |
| Total stockholders' equity (deficit) | −43 | 19 | 62 | 66 | 143 | |
| Total liabilities and stockholders' equity (deficit) | 112 | 90 | 123 | 134 | 243 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation | 5 | 5 | 8 | 20 | 62 | |
| Depreciation and amortization | 1 | 2 | 1 | 900,000 | 232,000 | |
| Amortization of debt discount and issue costs | 4 | 296,000 | 709,000 | 703,000 | 461,000 | |
| Paid-in-kind non-cash interest | 3 | 146,000 | 0 | — | — | |
| Provision for obsolete and slow-moving inventory | 0 | 177,000 | 706,000 | 2 | 90,000 | |
| Warranties issued and remediation added | 3 | 7 | 4 | 8 | 9 | |
| Warranty recoverable from manufacturer | 366,000 | 558,000 | 90,000 | −302,000 | −928,000 | |
| Credit loss provisions | 1 | 2 | 7 | — | — | |
| Deferred income taxes | 221,000 | 83,000 | 138,000 | −135,000 | 0 | |
| Lease expense | 1 | 1 | — | — | — | |
| Accounts receivable | −10 | 23 | −24 | 57 | −84 | |
| Inventories | 1 | −6 | 10 | −8 | −7 | |
| Prepaid and other current assets | 3 | −934,000 | −4 | 7 | −10 | |
| Other assets | 35,000 | −376,000 | 383,000 | −1 | −2 | |
| Accounts payable | −5 | 5 | −8 | −23 | 22 | |
| Accruals and other current liabilities | 3 | −19 | 11 | −33 | 34 | |
| Deferred revenue | 2 | 2 | −8 | 10 | −22 | |
| Other non-current liabilities | −2 | −3 | −3 | −599,000 | −6 | |
| Lease payments and other, net | −1 | −1 | −972,000 | −493,000 | −393,000 | |
| Net cash used in operations | −33 | −35 | −53 | −55 | −133 | |
| Purchases of property and equipment | −1 | −2 | −816,000 | −985,000 | −1 | |
| Proceeds from sale of Atlas software platform | 140,000 | 900,000 | 0 | — | — | |
| Proceeds from sale of property and equipment | 6,000 | 0 | — | — | — | |
| Equity method investment in Alpha Steel | 0 | −2 | −900,000 | 0 | 0 | |
| Acquisitions, net of cash acquired | 580,000 | 0 | — | — | — | |
| Proceeds from disposal of investment in unconsolidated subsidiary | 3 | 9 | 1 | 2 | 22 | |
| Net cash provided by investing activities | 3 | 6 | −397,000 | −4 | 21 | |
| Proceeds from borrowings | 36 | 15 | 0 | — | — | |
| Sale of common stock | 5 | 0 | 34 | 0 | 0 | |
| Stock Offering costs paid | −122,000 | 0 | −283,000 | 0 | −6 | |
| Financing costs paid | −159,000 | −60,000 | 0 | — | — | |
| Proceeds from stock option exercises | 15,000 | 8,000 | 226,000 | 903,000 | 317,000 | |
| Net cash provided by financing activities | 40 | 14 | 34 | 903,000 | 180 | |
| Effect of exchange rate changes on cash and cash equivalents | 102,000 | −49,000 | −47,000 | 54,000 | −10,000 | |
| Increase (decrease) in cash and cash equivalents | 10 | −14 | −19 | −58 | 69 | |
| Purchases of property and equipment included in ending accounts payable and accruals | 17,000 | 51,000 | 166,000 | 11,000 | 478,000 | |
| Fair value of common stock issued upon warrant exercise | 8 | 0 | — | — | — | |
| Alpha Steel purchase price included in short-term debt | 3 | 0 | — | — | — | |
| Right-of-use asset and lease liability recognition for new leases | 643,000 | 500,000 | 1 | 0 | 2 | |
| Paid-in-kind non-cash interest added to term loan principal | 3 | 146,000 | — | — | — | |
| Cash paid during the period for interest | 786,000 | 222,000 | 576,000 | 784,000 | 254,000 | |
| Cash paid during the period for taxes, net of refunds | 12,000 | 133,000 | 177,000 | 123,000 | 76,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is FTC Solar, Inc.'s CIK number?
FTC Solar, Inc.'s SEC CIK number is 0001828161 (1828161). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find FTC Solar, Inc.'s SEC filings?
All of FTC Solar, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did FTC Solar, Inc. last report earnings?
FTC Solar, Inc. (FTCI) most recently filed an earnings 8-K with the SEC on May 5, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-204973). This is FTC Solar, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is FTC Solar, Inc.'s most recent earnings 8-K?
FTC Solar, Inc.'s latest earnings 8-K (Item 2.02) was filed May 5, 2026 under accession 0001193125-26-204973. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View FTC Solar, Inc.'s latest earnings 8-K →
Look up any company's CIK number →