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Side-by-side financial comparison of FTC Solar, Inc. (FTCI) and Sight Sciences, Inc. (SGHT). Click either name above to swap in a different company.
FTC Solar, Inc. is the larger business by last-quarter revenue ($32.9M vs $20.4M, roughly 1.6× Sight Sciences, Inc.). Sight Sciences, Inc. runs the higher net margin — -20.4% vs -110.7%, a 90.3% gap on every dollar of revenue. On growth, FTC Solar, Inc. posted the faster year-over-year revenue change (148.9% vs 6.9%). Sight Sciences, Inc. produced more free cash flow last quarter ($-2.0M vs $-8.4M). Over the past eight quarters, FTC Solar, Inc.'s revenue compounded faster (61.6% CAGR vs 2.9%).
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.
Sight Sciences, Inc. is a commercial-stage medical technology company focused on developing and commercializing innovative products for treating common eye conditions including glaucoma and dry eye disease. It offers minimally invasive surgical devices and non-surgical care solutions, primarily serving ophthalmology clinicians and patients across the United States.
FTCI vs SGHT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $32.9M | $20.4M |
| Net Profit | $-36.4M | $-4.2M |
| Gross Margin | 14.9% | 87.3% |
| Operating Margin | -17.2% | -18.0% |
| Net Margin | -110.7% | -20.4% |
| Revenue YoY | 148.9% | 6.9% |
| Net Profit YoY | -197.4% | 64.9% |
| EPS (diluted) | $-2.31 | $-0.07 |
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 | $20.4M | ||
| Q3 25 | $26.0M | $19.9M | ||
| Q2 25 | $20.0M | $19.6M | ||
| Q1 25 | $20.8M | $17.5M | ||
| Q4 24 | $13.2M | $19.1M | ||
| Q3 24 | $10.1M | $20.2M | ||
| Q2 24 | $11.4M | $21.4M | ||
| Q1 24 | $12.6M | $19.3M |
| Q4 25 | $-36.4M | $-4.2M | ||
| Q3 25 | $-23.9M | $-8.2M | ||
| Q2 25 | $-15.4M | $-11.9M | ||
| Q1 25 | $-3.8M | $-14.2M | ||
| Q4 24 | $-12.2M | $-11.8M | ||
| Q3 24 | $-15.4M | $-11.1M | ||
| Q2 24 | $-12.2M | $-12.3M | ||
| Q1 24 | $-8.8M | $-16.3M |
| Q4 25 | 14.9% | 87.3% | ||
| Q3 25 | 6.1% | 86.4% | ||
| Q2 25 | -19.6% | 84.8% | ||
| Q1 25 | -16.6% | 86.2% | ||
| Q4 24 | -29.1% | 86.8% | ||
| Q3 24 | -42.5% | 83.9% | ||
| Q2 24 | -20.5% | 85.8% | ||
| Q1 24 | -16.7% | 85.5% |
| Q4 25 | -17.2% | -18.0% | ||
| Q3 25 | -29.6% | -39.7% | ||
| Q2 25 | -57.5% | -59.6% | ||
| Q1 25 | -50.8% | -79.2% | ||
| Q4 24 | -101.7% | -62.5% | ||
| Q3 24 | -147.8% | -55.7% | ||
| Q2 24 | -104.3% | -59.2% | ||
| Q1 24 | -99.3% | -76.4% |
| Q4 25 | -110.7% | -20.4% | ||
| Q3 25 | -92.0% | -41.0% | ||
| Q2 25 | -77.2% | -61.0% | ||
| Q1 25 | -18.4% | -80.8% | ||
| Q4 24 | -92.7% | -62.1% | ||
| Q3 24 | -151.5% | -54.9% | ||
| Q2 24 | -107.1% | -57.7% | ||
| Q1 24 | -69.7% | -84.4% |
| Q4 25 | $-2.31 | $-0.07 | ||
| Q3 25 | $-1.61 | $-0.16 | ||
| Q2 25 | $-1.18 | $-0.23 | ||
| Q1 25 | $-0.58 | $-0.28 | ||
| Q4 24 | $-0.95 | $-0.23 | ||
| Q3 24 | $-1.21 | $-0.22 | ||
| Q2 24 | $-0.97 | $-0.25 | ||
| Q1 24 | $-0.70 | $-0.33 |
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 | $92.0M |
| Total DebtLower is stronger | $9.9M | $42.4M |
| Stockholders' EquityBook value | $-43.0M | $63.9M |
| Total Assets | $111.8M | $115.3M |
| Debt / EquityLower = less leverage | — | 0.66× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | $92.0M | ||
| Q3 25 | $24.4M | $92.4M | ||
| Q2 25 | $3.5M | $101.5M | ||
| Q1 25 | $5.9M | $108.8M | ||
| Q4 24 | $11.2M | $120.4M | ||
| Q3 24 | $8.3M | $118.6M | ||
| Q2 24 | $10.8M | $118.2M | ||
| Q1 24 | $14.0M | $127.3M |
| Q4 25 | $9.9M | $42.4M | ||
| Q3 25 | $16.6M | $42.4M | ||
| Q2 25 | $10.9M | $42.4M | ||
| Q1 25 | $10.2M | $42.4M | ||
| Q4 24 | $9.5M | $40.0M | ||
| Q3 24 | — | $37.1M | ||
| Q2 24 | — | $35.0M | ||
| Q1 24 | — | $35.0M |
| Q4 25 | $-43.0M | $63.9M | ||
| Q3 25 | $-13.7M | $64.3M | ||
| Q2 25 | $9.0M | $70.0M | ||
| Q1 25 | $15.5M | $77.6M | ||
| Q4 24 | $19.0M | $87.5M | ||
| Q3 24 | $30.4M | $95.0M | ||
| Q2 24 | $44.2M | $101.6M | ||
| Q1 24 | $55.2M | $109.2M |
| Q4 25 | $111.8M | $115.3M | ||
| Q3 25 | $111.5M | $116.3M | ||
| Q2 25 | $83.0M | $122.0M | ||
| Q1 25 | $84.1M | $129.7M | ||
| Q4 24 | $89.9M | $142.8M | ||
| Q3 24 | $91.7M | $143.6M | ||
| Q2 24 | $100.3M | $149.7M | ||
| Q1 24 | $115.0M | $155.6M |
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | 1.20× | 0.61× | ||
| Q1 25 | 0.65× | 0.55× | ||
| Q4 24 | 0.50× | 0.46× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.32× |
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 | $-1.8M |
| Free Cash FlowOCF − Capex | $-8.4M | $-2.0M |
| FCF MarginFCF / Revenue | -25.7% | -9.7% |
| Capex IntensityCapex / Revenue | 1.3% | 0.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-34.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.0M | $-1.8M | ||
| Q3 25 | $-14.6M | $-8.7M | ||
| Q2 25 | $-2.3M | $-7.5M | ||
| Q1 25 | $-8.5M | $-11.6M | ||
| Q4 24 | $-16.7M | $-3.5M | ||
| Q3 24 | $-2.4M | $362.0K | ||
| Q2 24 | $-3.8M | $-9.5M | ||
| Q1 24 | $-11.9M | $-9.8M |
| Q4 25 | $-8.4M | $-2.0M | ||
| Q3 25 | $-15.1M | $-8.9M | ||
| Q2 25 | $-2.5M | $-7.8M | ||
| Q1 25 | $-8.6M | — | ||
| Q4 24 | $-17.0M | $-3.6M | ||
| Q3 24 | $-2.6M | $311.0K | ||
| Q2 24 | $-4.5M | $-9.5M | ||
| Q1 24 | $-12.3M | $-9.9M |
| Q4 25 | -25.7% | -9.7% | ||
| Q3 25 | -57.9% | -44.7% | ||
| Q2 25 | -12.4% | -39.6% | ||
| Q1 25 | -41.2% | — | ||
| Q4 24 | -128.6% | -18.9% | ||
| Q3 24 | -25.6% | 1.5% | ||
| Q2 24 | -39.2% | -44.7% | ||
| Q1 24 | -97.6% | -51.4% |
| Q4 25 | 1.3% | 0.8% | ||
| Q3 25 | 1.7% | 0.9% | ||
| Q2 25 | 0.9% | 1.1% | ||
| Q1 25 | 0.4% | 0.0% | ||
| Q4 24 | 2.2% | 0.7% | ||
| Q3 24 | 2.2% | 0.3% | ||
| Q2 24 | 6.1% | 0.4% | ||
| Q1 24 | 3.4% | 0.6% |
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% |
SGHT
| Surgical Glaucoma | $19.7M | 96% |
| Other | $724.0K | 4% |
