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Side-by-side financial comparison of FTC Solar, Inc. (FTCI) and i-80 Gold Corp. (IAUX). Click either name above to swap in a different company.
FTC Solar, Inc. is the larger business by last-quarter revenue ($32.9M vs $21.3M, roughly 1.5× i-80 Gold Corp.). FTC Solar, Inc. runs the higher net margin — -110.7% vs -401.9%, a 291.1% gap on every dollar of revenue. FTC Solar, Inc. produced more free cash flow last quarter ($-8.4M vs $-39.2M).
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.
i-80 Gold Corp is a mineral exploration and development firm focused on gold and silver asset operations in Nevada, US. It advances high-potential mining projects, using responsible extraction practices to deliver precious metals to global industrial and investment markets.
FTCI vs IAUX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $32.9M | $21.3M |
| Net Profit | $-36.4M | $-85.6M |
| Gross Margin | 14.9% | 22.0% |
| Operating Margin | -17.2% | -291.6% |
| Net Margin | -110.7% | -401.9% |
| Revenue YoY | 148.9% | — |
| Net Profit YoY | -197.4% | — |
| EPS (diluted) | $-2.31 | $-0.10 |
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 | $32.9M | $21.3M | ||
| Q3 25 | $26.0M | $32.0M | ||
| Q2 25 | $20.0M | $27.8M | ||
| Q1 25 | $20.8M | $14.0M | ||
| Q4 24 | $13.2M | — | ||
| Q3 24 | $10.1M | $11.5M | ||
| Q2 24 | $11.4M | $7.2M | ||
| Q1 24 | $12.6M | — |
| Q4 25 | $-36.4M | $-85.6M | ||
| Q3 25 | $-23.9M | $-41.9M | ||
| Q2 25 | $-15.4M | $-30.2M | ||
| Q1 25 | $-3.8M | $-41.2M | ||
| Q4 24 | $-12.2M | — | ||
| Q3 24 | $-15.4M | $-43.1M | ||
| Q2 24 | $-12.2M | $-41.0M | ||
| Q1 24 | $-8.8M | — |
| Q4 25 | 14.9% | 22.0% | ||
| Q3 25 | 6.1% | 9.7% | ||
| Q2 25 | -19.6% | 2.9% | ||
| Q1 25 | -16.6% | 20.7% | ||
| Q4 24 | -29.1% | — | ||
| Q3 24 | -42.5% | -42.7% | ||
| Q2 24 | -20.5% | -171.4% | ||
| Q1 24 | -16.7% | — |
| Q4 25 | -17.2% | -291.6% | ||
| Q3 25 | -29.6% | -86.7% | ||
| Q2 25 | -57.5% | -67.4% | ||
| Q1 25 | -50.8% | -112.3% | ||
| Q4 24 | -101.7% | — | ||
| Q3 24 | -147.8% | -210.0% | ||
| Q2 24 | -104.3% | -435.2% | ||
| Q1 24 | -99.3% | — |
| Q4 25 | -110.7% | -401.9% | ||
| Q3 25 | -92.0% | -130.8% | ||
| Q2 25 | -77.2% | -108.5% | ||
| Q1 25 | -18.4% | -293.3% | ||
| Q4 24 | -92.7% | — | ||
| Q3 24 | -151.5% | -374.5% | ||
| Q2 24 | -107.1% | -570.8% | ||
| Q1 24 | -69.7% | — |
| Q4 25 | $-2.31 | $-0.10 | ||
| Q3 25 | $-1.61 | $-0.05 | ||
| Q2 25 | $-1.18 | $-0.05 | ||
| Q1 25 | $-0.58 | $-0.10 | ||
| Q4 24 | $-0.95 | — | ||
| Q3 24 | $-1.21 | $-0.11 | ||
| Q2 24 | $-0.97 | $-0.11 | ||
| Q1 24 | $-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 | $21.1M | $63.2M |
| Total DebtLower is stronger | $9.9M | $174.7M |
| Stockholders' EquityBook value | $-43.0M | $346.8M |
| Total Assets | $111.8M | $703.4M |
| Debt / EquityLower = less leverage | — | 0.50× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $63.2M | ||
| Q3 25 | $24.4M | $102.9M | ||
| Q2 25 | $3.5M | $133.7M | ||
| Q1 25 | $5.9M | $13.5M | ||
| Q4 24 | $11.2M | — | ||
| Q3 24 | $8.3M | $21.8M | ||
| Q2 24 | $10.8M | $47.8M | ||
| Q1 24 | $14.0M | — |
| Q4 25 | $9.9M | $174.7M | ||
| Q3 25 | $16.6M | $175.9M | ||
| Q2 25 | $10.9M | $175.8M | ||
| Q1 25 | $10.2M | $197.5M | ||
| Q4 24 | $9.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-43.0M | $346.8M | ||
| Q3 25 | $-13.7M | $423.0M | ||
| Q2 25 | $9.0M | $463.5M | ||
| Q1 25 | $15.5M | $318.0M | ||
| Q4 24 | $19.0M | — | ||
| Q3 24 | $30.4M | $346.9M | ||
| Q2 24 | $44.2M | $377.2M | ||
| Q1 24 | $55.2M | — |
| Q4 25 | $111.8M | $703.4M | ||
| Q3 25 | $111.5M | $756.2M | ||
| Q2 25 | $83.0M | $782.9M | ||
| Q1 25 | $84.1M | $659.0M | ||
| Q4 24 | $89.9M | — | ||
| Q3 24 | $91.7M | — | ||
| Q2 24 | $100.3M | — | ||
| Q1 24 | $115.0M | — |
| Q4 25 | — | 0.50× | ||
| Q3 25 | — | 0.42× | ||
| Q2 25 | 1.20× | 0.38× | ||
| Q1 25 | 0.65× | 0.62× | ||
| 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 | $-8.0M | $-34.3M |
| Free Cash FlowOCF − Capex | $-8.4M | $-39.2M |
| FCF MarginFCF / Revenue | -25.7% | -184.3% |
| Capex IntensityCapex / Revenue | 1.3% | 23.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-34.6M | $-93.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.0M | $-34.3M | ||
| Q3 25 | $-14.6M | $-15.2M | ||
| Q2 25 | $-2.3M | $-11.3M | ||
| Q1 25 | $-8.5M | $-22.7M | ||
| Q4 24 | $-16.7M | — | ||
| Q3 24 | $-2.4M | $-23.5M | ||
| Q2 24 | $-3.8M | $-24.6M | ||
| Q1 24 | $-11.9M | — |
| Q4 25 | $-8.4M | $-39.2M | ||
| Q3 25 | $-15.1M | $-18.5M | ||
| Q2 25 | $-2.5M | $-12.4M | ||
| Q1 25 | $-8.6M | $-23.1M | ||
| Q4 24 | $-17.0M | — | ||
| Q3 24 | $-2.6M | $-23.8M | ||
| Q2 24 | $-4.5M | $-25.1M | ||
| Q1 24 | $-12.3M | — |
| Q4 25 | -25.7% | -184.3% | ||
| Q3 25 | -57.9% | -57.8% | ||
| Q2 25 | -12.4% | -44.7% | ||
| Q1 25 | -41.2% | -164.1% | ||
| Q4 24 | -128.6% | — | ||
| Q3 24 | -25.6% | -206.7% | ||
| Q2 24 | -39.2% | -349.1% | ||
| Q1 24 | -97.6% | — |
| Q4 25 | 1.3% | 23.1% | ||
| Q3 25 | 1.7% | 10.2% | ||
| Q2 25 | 0.9% | 3.9% | ||
| Q1 25 | 0.4% | 2.5% | ||
| Q4 24 | 2.2% | — | ||
| Q3 24 | 2.2% | 2.5% | ||
| Q2 24 | 6.1% | 7.3% | ||
| Q1 24 | 3.4% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FTCI
| Products | $26.2M | 80% |
| Services | $6.7M | 20% |
IAUX
| Granite Creek Mining Company | $20.3M | 95% |
| Ruby Hill Mining Company LLC | $991.0K | 5% |
| Lone Tree Minning Company | $3.0K | 0% |
