FTC Solar, Inc.FTCIEarnings & Financial Report
FTC Solar, Inc. is a leading global provider of advanced solar tracker systems, associated components, and supporting software for solar projects. It serves utility-scale, commercial, and industrial solar segments across key global markets, helping customers boost energy generation efficiency and lower overall project costs.
Revenue
$12.6M
Gross Profit
$-2.1M
Operating Profit
$-12.5M
Net Profit
$-8.8M
Gross Margin
-16.7%
Operating Margin
-99.3%
Net Margin
-69.7%
YoY Growth
-69.2%
EPS
$-0.70
FTC Solar, Inc. Q1 FY2024 Financial Summary
FTC Solar, Inc. reported revenue of $12.6M (down 69.2% YoY) for Q1 FY2024, with a net profit of $-8.8M (up 25.4% YoY) (-69.7% margin). Cost of goods sold was $14.7M, operating expenses totaled $10.4M.
Key Financial Metrics
| Total Revenue | $12.6M |
|---|---|
| Net Profit | $-8.8M |
| Gross Margin | -16.7% |
| Operating Margin | -99.3% |
| Report Period | Q1 FY2024 |
Revenue Breakdown
FTC Solar, Inc. Q1 FY2024 revenue of $12.6M breaks down across 2 segments, led by Products at $10.9M (86.6% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Products | $10.9M | 86.6% |
| Services | $1.7M | 13.4% |
FTC Solar, Inc. Revenue by Segment — Quarterly Trend
FTC Solar, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Products and Services) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Products | $26.2M | $20.1M | $15.9M | $18.2M |
| Services | $6.7M | $6.0M | $4.1M | $2.6M |
FTC Solar, Inc. Annual Revenue by Year
FTC Solar, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $99.7M).
| Year | Annual Revenue |
|---|---|
| 2025 | $99.7M |
| 2024 | $47.4M |
| 2023 | $127.0M |
| 2022 | $123.1M |
FTC Solar, Inc. Quarterly Revenue & Net Profit History
FTC Solar, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $32.9M | +148.9% | $-36.4M | -110.7% |
| Q3 FY2025 | $26.0M | +156.8% | $-23.9M | -92.0% |
| Q2 FY2025 | $20.0M | +74.9% | $-15.4M | -77.2% |
| Q1 FY2025 | $20.8M | +65.3% | $-3.8M | -18.4% |
| Q4 FY2024 | $13.2M | -43.1% | $-12.2M | -92.7% |
| Q3 FY2024 | $10.1M | -66.8% | $-15.4M | -151.5% |
| Q2 FY2024 | $11.4M | -64.7% | $-12.2M | -107.1% |
| Q1 FY2024 | $12.6M | -69.2% | $-8.8M | -69.7% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.6M | $11.4M | $10.1M | $13.2M | $20.8M | $20.0M | $26.0M | $32.9M |
| YoY Growth | -69.2% | -64.7% | -66.8% | -43.1% | 65.3% | 74.9% | 156.8% | 148.9% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $115.0M | $100.3M | $91.7M | $89.9M | $84.1M | $83.0M | $111.5M | $111.8M |
| Liabilities | $59.9M | $56.1M | $61.3M | $70.9M | $68.5M | $73.9M | $125.3M | $154.8M |
| Equity | $55.2M | $44.2M | $30.4M | $19.0M | $15.5M | $9.0M | $-13.7M | $-43.0M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-11.9M | $-3.8M | $-2.4M | $-16.7M | $-8.5M | $-2.3M | $-14.6M | $-8.0M |