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Side-by-side financial comparison of ADC Therapeutics SA (ADCT) and FTC Solar, Inc. (FTCI). Click either name above to swap in a different company.
FTC Solar, Inc. is the larger business by last-quarter revenue ($32.9M vs $23.1M, roughly 1.4× ADC Therapeutics SA). On growth, FTC Solar, Inc. posted the faster year-over-year revenue change (148.9% vs 36.4%). Over the past eight quarters, FTC Solar, Inc.'s revenue compounded faster (61.6% CAGR vs 13.7%).
ADC Telecommunications, Inc. was a communications company in Eden Prairie, Minnesota, a southwest suburb of Minneapolis. It was acquired by TE Connectivity in December 2010 and ceased to exist as a separate entity. ADC products were sold by CommScope after it acquired the Broadband Network Solutions business unit from TE Connectivity in August 2015.
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.
ADCT vs FTCI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $23.1M | $32.9M |
| Net Profit | — | $-36.4M |
| Gross Margin | — | 14.9% |
| Operating Margin | -77.7% | -17.2% |
| Net Margin | — | -110.7% |
| Revenue YoY | 36.4% | 148.9% |
| Net Profit YoY | — | -197.4% |
| EPS (diluted) | $0.04 | $-2.31 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $23.1M | $32.9M | ||
| Q3 25 | $15.8M | $26.0M | ||
| Q2 25 | $18.1M | $20.0M | ||
| Q1 25 | $17.4M | $20.8M | ||
| Q4 24 | $16.9M | $13.2M | ||
| Q3 24 | $18.0M | $10.1M | ||
| Q2 24 | $17.0M | $11.4M | ||
| Q1 24 | $17.8M | $12.6M |
| Q4 25 | — | $-36.4M | ||
| Q3 25 | $-41.0M | $-23.9M | ||
| Q2 25 | $-56.6M | $-15.4M | ||
| Q1 25 | $-38.6M | $-3.8M | ||
| Q4 24 | — | $-12.2M | ||
| Q3 24 | $-44.0M | $-15.4M | ||
| Q2 24 | $-36.5M | $-12.2M | ||
| Q1 24 | $-46.6M | $-8.8M |
| Q4 25 | — | 14.9% | ||
| Q3 25 | — | 6.1% | ||
| Q2 25 | — | -19.6% | ||
| Q1 25 | — | -16.6% | ||
| Q4 24 | — | -29.1% | ||
| Q3 24 | — | -42.5% | ||
| Q2 24 | — | -20.5% | ||
| Q1 24 | — | -16.7% |
| Q4 25 | -77.7% | -17.2% | ||
| Q3 25 | -196.6% | -29.6% | ||
| Q2 25 | -244.1% | -57.5% | ||
| Q1 25 | -163.5% | -50.8% | ||
| Q4 24 | -191.8% | -101.7% | ||
| Q3 24 | -197.4% | -147.8% | ||
| Q2 24 | -170.5% | -104.3% | ||
| Q1 24 | -188.3% | -99.3% |
| Q4 25 | — | -110.7% | ||
| Q3 25 | -260.1% | -92.0% | ||
| Q2 25 | -313.2% | -77.2% | ||
| Q1 25 | -221.8% | -18.4% | ||
| Q4 24 | — | -92.7% | ||
| Q3 24 | -244.1% | -151.5% | ||
| Q2 24 | -214.6% | -107.1% | ||
| Q1 24 | -261.1% | -69.7% |
| Q4 25 | $0.04 | $-2.31 | ||
| Q3 25 | $-0.30 | $-1.61 | ||
| Q2 25 | $-0.50 | $-1.18 | ||
| Q1 25 | $-0.36 | $-0.58 | ||
| Q4 24 | $-0.26 | $-0.95 | ||
| Q3 24 | $-0.42 | $-1.21 | ||
| Q2 24 | $-0.38 | $-0.97 | ||
| Q1 24 | $-0.56 | $-0.70 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $261.3M | $21.1M |
| Total DebtLower is stronger | — | $9.9M |
| Stockholders' EquityBook value | $-185.8M | $-43.0M |
| Total Assets | $323.1M | $111.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $261.3M | $21.1M | ||
| Q3 25 | $234.7M | $24.4M | ||
| Q2 25 | $264.6M | $3.5M | ||
| Q1 25 | $194.7M | $5.9M | ||
| Q4 24 | $250.9M | $11.2M | ||
| Q3 24 | $274.3M | $8.3M | ||
| Q2 24 | $300.1M | $10.8M | ||
| Q1 24 | $234.3M | $14.0M |
| Q4 25 | — | $9.9M | ||
| Q3 25 | — | $16.6M | ||
| Q2 25 | — | $10.9M | ||
| Q1 25 | — | $10.2M | ||
| Q4 24 | — | $9.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-185.8M | $-43.0M | ||
| Q3 25 | $-238.2M | $-13.7M | ||
| Q2 25 | $-199.2M | $9.0M | ||
| Q1 25 | $-238.2M | $15.5M | ||
| Q4 24 | $-202.6M | $19.0M | ||
| Q3 24 | $-171.9M | $30.4M | ||
| Q2 24 | $-131.7M | $44.2M | ||
| Q1 24 | $-194.4M | $55.2M |
| Q4 25 | $323.1M | $111.8M | ||
| Q3 25 | $289.8M | $111.5M | ||
| Q2 25 | $321.6M | $83.0M | ||
| Q1 25 | $272.5M | $84.1M | ||
| Q4 24 | $322.0M | $89.9M | ||
| Q3 24 | $349.1M | $91.7M | ||
| Q2 24 | $371.8M | $100.3M | ||
| Q1 24 | $308.0M | $115.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-31.1M | $-8.0M |
| Free Cash FlowOCF − Capex | — | $-8.4M |
| FCF MarginFCF / Revenue | — | -25.7% |
| Capex IntensityCapex / Revenue | 0.0% | 1.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-31.1M | $-8.0M | ||
| Q3 25 | $-29.6M | $-14.6M | ||
| Q2 25 | $-24.1M | $-2.3M | ||
| Q1 25 | $-56.3M | $-8.5M | ||
| Q4 24 | $-21.9M | $-16.7M | ||
| Q3 24 | $-25.0M | $-2.4M | ||
| Q2 24 | $-32.8M | $-3.8M | ||
| Q1 24 | $-44.1M | $-11.9M |
| Q4 25 | — | $-8.4M | ||
| Q3 25 | — | $-15.1M | ||
| Q2 25 | — | $-2.5M | ||
| Q1 25 | $-56.6M | $-8.6M | ||
| Q4 24 | $-21.9M | $-17.0M | ||
| Q3 24 | $-25.3M | $-2.6M | ||
| Q2 24 | $-32.9M | $-4.5M | ||
| Q1 24 | $-44.6M | $-12.3M |
| Q4 25 | — | -25.7% | ||
| Q3 25 | — | -57.9% | ||
| Q2 25 | — | -12.4% | ||
| Q1 25 | -325.2% | -41.2% | ||
| Q4 24 | -129.8% | -128.6% | ||
| Q3 24 | -140.2% | -25.6% | ||
| Q2 24 | -193.0% | -39.2% | ||
| Q1 24 | -250.0% | -97.6% |
| Q4 25 | 0.0% | 1.3% | ||
| Q3 25 | 0.0% | 1.7% | ||
| Q2 25 | 0.0% | 0.9% | ||
| Q1 25 | 1.5% | 0.4% | ||
| Q4 24 | 0.5% | 2.2% | ||
| Q3 24 | 1.2% | 2.2% | ||
| Q2 24 | 0.2% | 6.1% | ||
| Q1 24 | 3.0% | 3.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADCT
Segment breakdown not available.
FTCI
| Products | $26.2M | 80% |
| Services | $6.7M | 20% |
