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Side-by-side financial comparison of FTC Solar, Inc. (FTCI) and John Marshall Bancorp, Inc. (JMSB). Click either name above to swap in a different company.
FTC Solar, Inc. is the larger business by last-quarter revenue ($32.9M vs $16.8M, roughly 2.0× John Marshall Bancorp, Inc.). John Marshall Bancorp, Inc. runs the higher net margin — 36.3% vs -110.7%, a 147.1% gap on every dollar of revenue. Over the past eight quarters, FTC Solar, Inc.'s revenue compounded faster (61.6% CAGR vs 15.3%).
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.
John Marshall Bancorp, Inc. is a U.S.-based bank holding company that operates through its wholly owned subsidiary John Marshall Bank. It provides a full suite of commercial and consumer banking products including deposit accounts, commercial loans, residential mortgages, and personal financial services, primarily serving retail customers and small-to-mid-sized businesses across the U.S. Mid-Atlantic region.
FTCI vs JMSB — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $32.9M | $16.8M |
| Net Profit | $-36.4M | $6.1M |
| Gross Margin | 14.9% | — |
| Operating Margin | -17.2% | — |
| Net Margin | -110.7% | 36.3% |
| Revenue YoY | 148.9% | — |
| Net Profit YoY | -197.4% | 26.8% |
| EPS (diluted) | $-2.31 | $0.43 |
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.
| Q1 26 | — | $16.8M | ||
| Q4 25 | $32.9M | $16.4M | ||
| Q3 25 | $26.0M | $16.3M | ||
| Q2 25 | $20.0M | $15.4M | ||
| Q1 25 | $20.8M | $14.6M | ||
| Q4 24 | $13.2M | $14.3M | ||
| Q3 24 | $10.1M | $13.8M | ||
| Q2 24 | $11.4M | $12.6M |
| Q1 26 | — | $6.1M | ||
| Q4 25 | $-36.4M | $5.9M | ||
| Q3 25 | $-23.9M | $5.4M | ||
| Q2 25 | $-15.4M | $5.1M | ||
| Q1 25 | $-3.8M | $4.8M | ||
| Q4 24 | $-12.2M | $4.8M | ||
| Q3 24 | $-15.4M | $4.2M | ||
| Q2 24 | $-12.2M | $3.9M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | -17.2% | 47.4% | ||
| Q3 25 | -29.6% | 42.2% | ||
| Q2 25 | -57.5% | 42.7% | ||
| Q1 25 | -50.8% | 42.4% | ||
| Q4 24 | -101.7% | 42.5% | ||
| Q3 24 | -147.8% | 38.8% | ||
| Q2 24 | -104.3% | 39.7% |
| Q1 26 | — | 36.3% | ||
| Q4 25 | -110.7% | 36.2% | ||
| Q3 25 | -92.0% | 33.2% | ||
| Q2 25 | -77.2% | 33.1% | ||
| Q1 25 | -18.4% | 32.9% | ||
| Q4 24 | -92.7% | 33.3% | ||
| Q3 24 | -151.5% | 30.7% | ||
| Q2 24 | -107.1% | 30.9% |
| Q1 26 | — | $0.43 | ||
| Q4 25 | $-2.31 | $0.41 | ||
| Q3 25 | $-1.61 | $0.38 | ||
| Q2 25 | $-1.18 | $0.36 | ||
| Q1 25 | $-0.58 | $0.34 | ||
| Q4 24 | $-0.95 | $0.33 | ||
| Q3 24 | $-1.21 | $0.30 | ||
| Q2 24 | $-0.97 | $0.27 |
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 | $150.2M |
| Total DebtLower is stronger | $9.9M | — |
| Stockholders' EquityBook value | $-43.0M | $268.1M |
| Total Assets | $111.8M | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $150.2M | ||
| Q4 25 | $21.1M | $130.0M | ||
| Q3 25 | $24.4M | $163.6M | ||
| Q2 25 | $3.5M | $116.9M | ||
| Q1 25 | $5.9M | $169.1M | ||
| Q4 24 | $11.2M | $122.5M | ||
| Q3 24 | $8.3M | $177.2M | ||
| Q2 24 | $10.8M | $182.6M |
| Q1 26 | — | — | ||
| Q4 25 | $9.9M | $80.9M | ||
| Q3 25 | $16.6M | $80.9M | ||
| Q2 25 | $10.9M | $80.8M | ||
| Q1 25 | $10.2M | $80.8M | ||
| Q4 24 | $9.5M | $80.8M | ||
| Q3 24 | — | $80.8M | ||
| Q2 24 | — | $24.7M |
| Q1 26 | — | $268.1M | ||
| Q4 25 | $-43.0M | $265.6M | ||
| Q3 25 | $-13.7M | $259.7M | ||
| Q2 25 | $9.0M | $253.7M | ||
| Q1 25 | $15.5M | $253.0M | ||
| Q4 24 | $19.0M | $246.6M | ||
| Q3 24 | $30.4M | $243.1M | ||
| Q2 24 | $44.2M | $235.3M |
| Q1 26 | — | $2.4B | ||
| Q4 25 | $111.8M | $2.3B | ||
| Q3 25 | $111.5M | $2.3B | ||
| Q2 25 | $83.0M | $2.3B | ||
| Q1 25 | $84.1M | $2.3B | ||
| Q4 24 | $89.9M | $2.2B | ||
| Q3 24 | $91.7M | $2.3B | ||
| Q2 24 | $100.3M | $2.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | 1.20× | 0.32× | ||
| Q1 25 | 0.65× | 0.32× | ||
| Q4 24 | 0.50× | 0.33× | ||
| Q3 24 | — | 0.33× | ||
| Q2 24 | — | 0.11× |
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 | — |
| Free Cash FlowOCF − Capex | $-8.4M | — |
| FCF MarginFCF / Revenue | -25.7% | — |
| Capex IntensityCapex / Revenue | 1.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-34.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-8.0M | $22.6M | ||
| Q3 25 | $-14.6M | $1.2M | ||
| Q2 25 | $-2.3M | $7.5M | ||
| Q1 25 | $-8.5M | $7.0M | ||
| Q4 24 | $-16.7M | $17.3M | ||
| Q3 24 | $-2.4M | $1.4M | ||
| Q2 24 | $-3.8M | $10.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-8.4M | $22.0M | ||
| Q3 25 | $-15.1M | $1.2M | ||
| Q2 25 | $-2.5M | $7.4M | ||
| Q1 25 | $-8.6M | $6.6M | ||
| Q4 24 | $-17.0M | $16.8M | ||
| Q3 24 | $-2.6M | $1.3M | ||
| Q2 24 | $-4.5M | $10.1M |
| Q1 26 | — | — | ||
| Q4 25 | -25.7% | 134.7% | ||
| Q3 25 | -57.9% | 7.3% | ||
| Q2 25 | -12.4% | 47.8% | ||
| Q1 25 | -41.2% | 45.3% | ||
| Q4 24 | -128.6% | 116.9% | ||
| Q3 24 | -25.6% | 9.5% | ||
| Q2 24 | -39.2% | 80.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 3.4% | ||
| Q3 25 | 1.7% | 0.2% | ||
| Q2 25 | 0.9% | 1.0% | ||
| Q1 25 | 0.4% | 2.3% | ||
| Q4 24 | 2.2% | 3.4% | ||
| Q3 24 | 2.2% | 0.8% | ||
| Q2 24 | 6.1% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.82× | ||
| Q3 25 | — | 0.23× | ||
| Q2 25 | — | 1.48× | ||
| Q1 25 | — | 1.45× | ||
| Q4 24 | — | 3.61× | ||
| Q3 24 | — | 0.33× | ||
| Q2 24 | — | 2.60× |
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% |
JMSB
| Net Interest Income | $16.5M | 98% |
| Noninterest Income | $284.0K | 2% |
