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Side-by-side financial comparison of FTC Solar, Inc. (FTCI) and SANDRIDGE ENERGY INC (SD). Click either name above to swap in a different company.
SANDRIDGE ENERGY INC is the larger business by last-quarter revenue ($39.4M vs $32.9M, roughly 1.2× FTC Solar, Inc.). SANDRIDGE ENERGY INC runs the higher net margin — 54.9% vs -110.7%, a 165.7% gap on every dollar of revenue. On growth, FTC Solar, Inc. posted the faster year-over-year revenue change (148.9% vs 1.1%). SANDRIDGE ENERGY INC produced more free cash flow last quarter ($14.4M vs $-8.4M). Over the past eight quarters, FTC Solar, Inc.'s revenue compounded faster (61.6% CAGR vs 14.1%).
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.
SandRidge Energy, Inc. is a company engaged in hydrocarbon exploration in the Mid-Continent region of the United States. It is organized in Delaware and headquartered in Oklahoma City, Oklahoma.
FTCI vs SD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $32.9M | $39.4M |
| Net Profit | $-36.4M | $21.6M |
| Gross Margin | 14.9% | — |
| Operating Margin | -17.2% | 38.5% |
| Net Margin | -110.7% | 54.9% |
| Revenue YoY | 148.9% | 1.1% |
| Net Profit YoY | -197.4% | 23.1% |
| EPS (diluted) | $-2.31 | $0.59 |
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 | $39.4M | ||
| Q3 25 | $26.0M | $39.8M | ||
| Q2 25 | $20.0M | $34.5M | ||
| Q1 25 | $20.8M | $42.6M | ||
| Q4 24 | $13.2M | $39.0M | ||
| Q3 24 | $10.1M | $30.1M | ||
| Q2 24 | $11.4M | $26.0M | ||
| Q1 24 | $12.6M | $30.3M |
| Q4 25 | $-36.4M | $21.6M | ||
| Q3 25 | $-23.9M | $16.0M | ||
| Q2 25 | $-15.4M | $19.6M | ||
| Q1 25 | $-3.8M | $13.0M | ||
| Q4 24 | $-12.2M | $17.6M | ||
| Q3 24 | $-15.4M | $25.5M | ||
| Q2 24 | $-12.2M | $8.8M | ||
| Q1 24 | $-8.8M | $11.1M |
| 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 | -17.2% | 38.5% | ||
| Q3 25 | -29.6% | 37.8% | ||
| Q2 25 | -57.5% | 53.7% | ||
| Q1 25 | -50.8% | 28.6% | ||
| Q4 24 | -101.7% | 25.9% | ||
| Q3 24 | -147.8% | 28.3% | ||
| Q2 24 | -104.3% | 23.9% | ||
| Q1 24 | -99.3% | 27.8% |
| Q4 25 | -110.7% | 54.9% | ||
| Q3 25 | -92.0% | 40.1% | ||
| Q2 25 | -77.2% | 56.6% | ||
| Q1 25 | -18.4% | 30.6% | ||
| Q4 24 | -92.7% | 45.1% | ||
| Q3 24 | -151.5% | 84.8% | ||
| Q2 24 | -107.1% | 33.9% | ||
| Q1 24 | -69.7% | 36.7% |
| Q4 25 | $-2.31 | $0.59 | ||
| Q3 25 | $-1.61 | $0.43 | ||
| Q2 25 | $-1.18 | $0.53 | ||
| Q1 25 | $-0.58 | $0.35 | ||
| Q4 24 | $-0.95 | $0.46 | ||
| Q3 24 | $-1.21 | $0.69 | ||
| Q2 24 | $-0.97 | $0.24 | ||
| Q1 24 | $-0.70 | $0.30 |
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 | $111.0M |
| Total DebtLower is stronger | $9.9M | — |
| Stockholders' EquityBook value | $-43.0M | $510.9M |
| Total Assets | $111.8M | $644.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $111.0M | ||
| Q3 25 | $24.4M | $101.2M | ||
| Q2 25 | $3.5M | $102.8M | ||
| Q1 25 | $5.9M | $99.7M | ||
| Q4 24 | $11.2M | $98.1M | ||
| Q3 24 | $8.3M | $92.7M | ||
| Q2 24 | $10.8M | $209.9M | ||
| Q1 24 | $14.0M | $207.0M |
| 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 | $-43.0M | $510.9M | ||
| Q3 25 | $-13.7M | $492.4M | ||
| Q2 25 | $9.0M | $480.2M | ||
| Q1 25 | $15.5M | $464.9M | ||
| Q4 24 | $19.0M | $460.5M | ||
| Q3 24 | $30.4M | $446.8M | ||
| Q2 24 | $44.2M | $424.8M | ||
| Q1 24 | $55.2M | $419.7M |
| Q4 25 | $111.8M | $644.0M | ||
| Q3 25 | $111.5M | $619.0M | ||
| Q2 25 | $83.0M | $602.3M | ||
| Q1 25 | $84.1M | $588.3M | ||
| Q4 24 | $89.9M | $581.5M | ||
| Q3 24 | $91.7M | $565.2M | ||
| Q2 24 | $100.3M | $529.6M | ||
| Q1 24 | $115.0M | $527.4M |
| 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 | $31.7M |
| Free Cash FlowOCF − Capex | $-8.4M | $14.4M |
| FCF MarginFCF / Revenue | -25.7% | 36.6% |
| Capex IntensityCapex / Revenue | 1.3% | 43.8% |
| Cash ConversionOCF / Net Profit | — | 1.46× |
| TTM Free Cash FlowTrailing 4 quarters | $-34.6M | $41.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.0M | $31.7M | ||
| Q3 25 | $-14.6M | $25.3M | ||
| Q2 25 | $-2.3M | $22.9M | ||
| Q1 25 | $-8.5M | $20.3M | ||
| Q4 24 | $-16.7M | $26.0M | ||
| Q3 24 | $-2.4M | $20.8M | ||
| Q2 24 | $-3.8M | $11.4M | ||
| Q1 24 | $-11.9M | $15.7M |
| Q4 25 | $-8.4M | $14.4M | ||
| Q3 25 | $-15.1M | $5.9M | ||
| Q2 25 | $-2.5M | $7.3M | ||
| Q1 25 | $-8.6M | $13.9M | ||
| Q4 24 | $-17.0M | $13.2M | ||
| Q3 24 | $-2.6M | $10.8M | ||
| Q2 24 | $-4.5M | $9.0M | ||
| Q1 24 | $-12.3M | $14.6M |
| Q4 25 | -25.7% | 36.6% | ||
| Q3 25 | -57.9% | 14.9% | ||
| Q2 25 | -12.4% | 21.0% | ||
| Q1 25 | -41.2% | 32.7% | ||
| Q4 24 | -128.6% | 33.8% | ||
| Q3 24 | -25.6% | 36.1% | ||
| Q2 24 | -39.2% | 34.5% | ||
| Q1 24 | -97.6% | 48.1% |
| Q4 25 | 1.3% | 43.8% | ||
| Q3 25 | 1.7% | 48.6% | ||
| Q2 25 | 0.9% | 45.2% | ||
| Q1 25 | 0.4% | 15.0% | ||
| Q4 24 | 2.2% | 32.9% | ||
| Q3 24 | 2.2% | 33.3% | ||
| Q2 24 | 6.1% | 9.4% | ||
| Q1 24 | 3.4% | 3.7% |
| Q4 25 | — | 1.46× | ||
| Q3 25 | — | 1.58× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | 0.82× | ||
| Q2 24 | — | 1.30× | ||
| Q1 24 | — | 1.41× |
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% |
SD
| Oil Reserves | $19.0M | 48% |
| Natural Gas Reserves | $11.6M | 30% |
| Natural Gas Liquids Reserves | $8.7M | 22% |
