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Side-by-side financial comparison of FTC Solar, Inc. (FTCI) and RHYTHM PHARMACEUTICALS, INC. (RYTM). Click either name above to swap in a different company.
RHYTHM PHARMACEUTICALS, INC. is the larger business by last-quarter revenue ($57.3M vs $32.9M, roughly 1.7× FTC Solar, Inc.). RHYTHM PHARMACEUTICALS, INC. runs the higher net margin — -83.0% vs -110.7%, a 27.8% gap on every dollar of revenue. On growth, FTC Solar, Inc. posted the faster year-over-year revenue change (148.9% vs 36.9%). Over the past eight quarters, FTC Solar, Inc.'s revenue compounded faster (61.6% CAGR vs 48.5%).
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.
Rhythm Pharmaceuticals is a biopharmaceutical firm focused on developing and commercializing targeted therapies for rare genetic disorders causing severe unmanageable obesity, including POMC deficiency, LEPR deficiency, and Bardet-Biedl syndrome. It serves patients in North America and Europe who lack effective standard treatments for their chronic life-altering conditions.
FTCI vs RYTM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $32.9M | $57.3M |
| Net Profit | $-36.4M | $-47.5M |
| Gross Margin | 14.9% | 91.6% |
| Operating Margin | -17.2% | -82.2% |
| Net Margin | -110.7% | -83.0% |
| Revenue YoY | 148.9% | 36.9% |
| Net Profit YoY | -197.4% | -9.6% |
| EPS (diluted) | $-2.31 | $-0.73 |
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 | $57.3M | ||
| Q3 25 | $26.0M | $51.3M | ||
| Q2 25 | $20.0M | $48.5M | ||
| Q1 25 | $20.8M | $32.7M | ||
| Q4 24 | $13.2M | $41.8M | ||
| Q3 24 | $10.1M | $33.3M | ||
| Q2 24 | $11.4M | $29.1M | ||
| Q1 24 | $12.6M | $26.0M |
| Q4 25 | $-36.4M | $-47.5M | ||
| Q3 25 | $-23.9M | $-52.9M | ||
| Q2 25 | $-15.4M | $-46.6M | ||
| Q1 25 | $-3.8M | $-49.5M | ||
| Q4 24 | $-12.2M | $-43.3M | ||
| Q3 24 | $-15.4M | $-43.6M | ||
| Q2 24 | $-12.2M | $-32.3M | ||
| Q1 24 | $-8.8M | $-141.4M |
| Q4 25 | 14.9% | 91.6% | ||
| Q3 25 | 6.1% | 89.3% | ||
| Q2 25 | -19.6% | 88.6% | ||
| Q1 25 | -16.6% | 88.8% | ||
| Q4 24 | -29.1% | 90.9% | ||
| Q3 24 | -42.5% | 88.5% | ||
| Q2 24 | -20.5% | 89.9% | ||
| Q1 24 | -16.7% | 89.2% |
| Q4 25 | -17.2% | -82.2% | ||
| Q3 25 | -29.6% | -102.6% | ||
| Q2 25 | -57.5% | -93.4% | ||
| Q1 25 | -50.8% | -143.7% | ||
| Q4 24 | -101.7% | -98.6% | ||
| Q3 24 | -147.8% | -132.0% | ||
| Q2 24 | -104.3% | -139.2% | ||
| Q1 24 | -99.3% | -538.7% |
| Q4 25 | -110.7% | -83.0% | ||
| Q3 25 | -92.0% | -103.1% | ||
| Q2 25 | -77.2% | -96.1% | ||
| Q1 25 | -18.4% | -151.4% | ||
| Q4 24 | -92.7% | -103.6% | ||
| Q3 24 | -151.5% | -131.2% | ||
| Q2 24 | -107.1% | -110.9% | ||
| Q1 24 | -69.7% | -544.4% |
| Q4 25 | $-2.31 | $-0.73 | ||
| Q3 25 | $-1.61 | $-0.82 | ||
| Q2 25 | $-1.18 | $-0.75 | ||
| Q1 25 | $-0.58 | $-0.81 | ||
| Q4 24 | $-0.95 | $-0.71 | ||
| Q3 24 | $-1.21 | $-0.73 | ||
| Q2 24 | $-0.97 | $-0.55 | ||
| Q1 24 | $-0.70 | $-2.35 |
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 | $388.9M |
| Total DebtLower is stronger | $9.9M | — |
| Stockholders' EquityBook value | $-43.0M | $139.1M |
| Total Assets | $111.8M | $480.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $388.9M | ||
| Q3 25 | $24.4M | $416.1M | ||
| Q2 25 | $3.5M | $291.0M | ||
| Q1 25 | $5.9M | $314.5M | ||
| Q4 24 | $11.2M | $320.6M | ||
| Q3 24 | $8.3M | $298.4M | ||
| Q2 24 | $10.8M | $319.1M | ||
| Q1 24 | $14.0M | $201.2M |
| 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 | $-43.0M | $139.1M | ||
| Q3 25 | $-13.7M | $148.8M | ||
| Q2 25 | $9.0M | $-11.9M | ||
| Q1 25 | $15.5M | $18.9M | ||
| Q4 24 | $19.0M | $21.7M | ||
| Q3 24 | $30.4M | $11.2M | ||
| Q2 24 | $44.2M | $39.3M | ||
| Q1 24 | $55.2M | $61.6M |
| Q4 25 | $111.8M | $480.2M | ||
| Q3 25 | $111.5M | $506.9M | ||
| Q2 25 | $83.0M | $372.7M | ||
| Q1 25 | $84.1M | $386.7M | ||
| Q4 24 | $89.9M | $392.3M | ||
| Q3 24 | $91.7M | $363.6M | ||
| Q2 24 | $100.3M | $381.8M | ||
| Q1 24 | $115.0M | $258.7M |
| 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 | $-8.0M | $-25.4M |
| 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.
| Q4 25 | $-8.0M | $-25.4M | ||
| Q3 25 | $-14.6M | $-26.6M | ||
| Q2 25 | $-2.3M | $-23.3M | ||
| Q1 25 | $-8.5M | $-40.4M | ||
| Q4 24 | $-16.7M | $-18.8M | ||
| Q3 24 | $-2.4M | $-25.2M | ||
| Q2 24 | $-3.8M | $-29.1M | ||
| Q1 24 | $-11.9M | $-40.7M |
| Q4 25 | $-8.4M | — | ||
| Q3 25 | $-15.1M | — | ||
| Q2 25 | $-2.5M | — | ||
| Q1 25 | $-8.6M | — | ||
| Q4 24 | $-17.0M | — | ||
| Q3 24 | $-2.6M | — | ||
| Q2 24 | $-4.5M | — | ||
| Q1 24 | $-12.3M | — |
| Q4 25 | -25.7% | — | ||
| Q3 25 | -57.9% | — | ||
| Q2 25 | -12.4% | — | ||
| Q1 25 | -41.2% | — | ||
| Q4 24 | -128.6% | — | ||
| Q3 24 | -25.6% | — | ||
| Q2 24 | -39.2% | — | ||
| Q1 24 | -97.6% | — |
| Q4 25 | 1.3% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 2.2% | — | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | 6.1% | — | ||
| 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% |
RYTM
Segment breakdown not available.
