First SolarFSLREarnings & Financial Report
First Solar, Inc. is a publicly traded American manufacturer of solar panels. First Solar uses rigid thin-film modules for its solar panels, and produces CdTe panels using cadmium telluride (CdTe) as a semiconductor. The company was founded in 1990 by inventor Harold McMaster as Solar Cells, Inc. In 1999 it was purchased by True North Partners, LLC, which rebranded it as First Solar, Inc. It provides end-of-life panel recycling at each of its manufacturing facilities.
Revenue
$367.0M
Gross Profit
$11.5M
Operating Profit
$-57.8M
Net Profit
$-43.3M
Gross Margin
3.1%
Operating Margin
-15.7%
Net Margin
-11.8%
YoY Growth
-54.3%
EPS
$-0.41
Financial Flow
First Solar Q1 2022 Financial Summary
First Solar reported revenue of $367.0M for Q1 2022, with a net profit of $-43.3M (-11.8% margin). Cost of goods sold was $355.6M, operating expenses totaled $69.3M.
Key Financial Metrics
| Total Revenue | $367.0M |
|---|---|
| Net Profit | $-43.3M |
| Gross Margin | 3.1% |
| Operating Margin | -15.7% |
| Report Period | Q1 2022 |
First Solar Annual Revenue by Year
First Solar annual revenue history includes year-by-year totals (for example, 2024 revenue was $4.2B).
| Year | Annual Revenue |
|---|---|
| 2024 | $4.2B |
| 2023 | $3.3B |
| 2022 | $2.6B |
Income Statement
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.16B | $794.1M | $1.01B | $887.7M | $1.51B | $844.6M | $1.10B | $1.59B |
| YoY Growth | 15.6% | 44.8% | 24.6% | 10.8% | 30.7% | 6.4% | 8.6% | 79.7% |
Balance Sheet
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $10.37B | $10.76B | $11.01B | $11.44B | $12.12B | $12.12B | $12.86B | $13.46B |
| Liabilities | $3.68B | $3.86B | $3.76B | $3.84B | $4.15B | $3.93B | $4.31B | $4.44B |
| Equity | $6.69B | $6.90B | $7.26B | $7.59B | $7.98B | $8.19B | $8.55B | $9.02B |
Cash Flow
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $561.1M | $267.7M | $193.0M | $-53.7M | $811.0M | $-608.0M | $149.6M | $1.27B |
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