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Side-by-side financial comparison of FTC Solar, Inc. (FTCI) and UNITY BANCORP INC (UNTY). Click either name above to swap in a different company.
UNITY BANCORP INC is the larger business by last-quarter revenue ($35.3M vs $32.9M, roughly 1.1× FTC Solar, Inc.). UNITY BANCORP INC runs the higher net margin — 43.9% vs -110.7%, a 154.6% gap on every dollar of revenue. On growth, FTC Solar, Inc. posted the faster year-over-year revenue change (148.9% vs 24.2%). UNITY BANCORP INC produced more free cash flow last quarter ($44.3M vs $-8.4M). Over the past eight quarters, FTC Solar, Inc.'s revenue compounded faster (61.6% CAGR vs 17.5%).
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.
Unity Bancorp Inc is a New Jersey-headquartered financial holding company operating Unity Bank. It offers a full range of commercial and retail banking services including business loans, deposit products, mortgage services, and personal banking solutions, primarily serving small and medium-sized enterprises and individual consumers across local communities in New Jersey and eastern Pennsylvania.
FTCI vs UNTY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $32.9M | $35.3M |
| Net Profit | $-36.4M | $15.5M |
| Gross Margin | 14.9% | — |
| Operating Margin | -17.2% | 55.8% |
| Net Margin | -110.7% | 43.9% |
| Revenue YoY | 148.9% | 24.2% |
| Net Profit YoY | -197.4% | 34.5% |
| EPS (diluted) | $-2.31 | $1.52 |
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 | $35.3M | ||
| Q3 25 | $26.0M | $32.8M | ||
| Q2 25 | $20.0M | $34.4M | ||
| Q1 25 | $20.8M | $29.4M | ||
| Q4 24 | $13.2M | $28.4M | ||
| Q3 24 | $10.1M | $27.7M | ||
| Q2 24 | $11.4M | $25.5M | ||
| Q1 24 | $12.6M | $25.6M |
| Q4 25 | $-36.4M | $15.5M | ||
| Q3 25 | $-23.9M | $14.4M | ||
| Q2 25 | $-15.4M | $16.5M | ||
| Q1 25 | $-3.8M | $11.6M | ||
| Q4 24 | $-12.2M | $11.5M | ||
| Q3 24 | $-15.4M | $10.9M | ||
| Q2 24 | $-12.2M | $9.5M | ||
| Q1 24 | $-8.8M | $9.6M |
| 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% | 55.8% | ||
| Q3 25 | -29.6% | 57.5% | ||
| Q2 25 | -57.5% | 62.6% | ||
| Q1 25 | -50.8% | 52.6% | ||
| Q4 24 | -101.7% | 51.0% | ||
| Q3 24 | -147.8% | 52.7% | ||
| Q2 24 | -104.3% | 49.3% | ||
| Q1 24 | -99.3% | 50.0% |
| Q4 25 | -110.7% | 43.9% | ||
| Q3 25 | -92.0% | 43.8% | ||
| Q2 25 | -77.2% | 48.0% | ||
| Q1 25 | -18.4% | 39.5% | ||
| Q4 24 | -92.7% | 40.5% | ||
| Q3 24 | -151.5% | 39.4% | ||
| Q2 24 | -107.1% | 37.1% | ||
| Q1 24 | -69.7% | 37.5% |
| Q4 25 | $-2.31 | $1.52 | ||
| Q3 25 | $-1.61 | $1.41 | ||
| Q2 25 | $-1.18 | $1.61 | ||
| Q1 25 | $-0.58 | $1.13 | ||
| Q4 24 | $-0.95 | $1.13 | ||
| Q3 24 | $-1.21 | $1.07 | ||
| Q2 24 | $-0.97 | $0.92 | ||
| Q1 24 | $-0.70 | $0.94 |
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 | — |
| Total DebtLower is stronger | $9.9M | — |
| Stockholders' EquityBook value | $-43.0M | $345.6M |
| Total Assets | $111.8M | $3.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.1M | — | ||
| Q3 25 | $24.4M | — | ||
| Q2 25 | $3.5M | — | ||
| Q1 25 | $5.9M | — | ||
| Q4 24 | $11.2M | — | ||
| Q3 24 | $8.3M | — | ||
| Q2 24 | $10.8M | — | ||
| Q1 24 | $14.0M | — |
| Q4 25 | $9.9M | — | ||
| Q3 25 | $16.6M | — | ||
| Q2 25 | $10.9M | — | ||
| Q1 25 | $10.2M | — | ||
| Q4 24 | $9.5M | $230.8M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-43.0M | $345.6M | ||
| Q3 25 | $-13.7M | $334.0M | ||
| Q2 25 | $9.0M | $319.8M | ||
| Q1 25 | $15.5M | $306.1M | ||
| Q4 24 | $19.0M | $295.6M | ||
| Q3 24 | $30.4M | $284.3M | ||
| Q2 24 | $44.2M | $273.4M | ||
| Q1 24 | $55.2M | $266.8M |
| Q4 25 | $111.8M | $3.0B | ||
| Q3 25 | $111.5M | $2.9B | ||
| Q2 25 | $83.0M | $2.9B | ||
| Q1 25 | $84.1M | $2.8B | ||
| Q4 24 | $89.9M | $2.7B | ||
| Q3 24 | $91.7M | $2.6B | ||
| Q2 24 | $100.3M | $2.6B | ||
| Q1 24 | $115.0M | $2.6B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.20× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.50× | 0.78× | ||
| 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 | $44.9M |
| Free Cash FlowOCF − Capex | $-8.4M | $44.3M |
| FCF MarginFCF / Revenue | -25.7% | 125.7% |
| Capex IntensityCapex / Revenue | 1.3% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 2.90× |
| TTM Free Cash FlowTrailing 4 quarters | $-34.6M | $81.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.0M | $44.9M | ||
| Q3 25 | $-14.6M | $45.5M | ||
| Q2 25 | $-2.3M | $-25.3M | ||
| Q1 25 | $-8.5M | $17.9M | ||
| Q4 24 | $-16.7M | $48.0M | ||
| Q3 24 | $-2.4M | $17.7M | ||
| Q2 24 | $-3.8M | $-8.4M | ||
| Q1 24 | $-11.9M | $15.8M |
| Q4 25 | $-8.4M | $44.3M | ||
| Q3 25 | $-15.1M | $45.3M | ||
| Q2 25 | $-2.5M | $-25.5M | ||
| Q1 25 | $-8.6M | $17.6M | ||
| Q4 24 | $-17.0M | $47.3M | ||
| Q3 24 | $-2.6M | $17.5M | ||
| Q2 24 | $-4.5M | $-8.6M | ||
| Q1 24 | $-12.3M | $15.7M |
| Q4 25 | -25.7% | 125.7% | ||
| Q3 25 | -57.9% | 138.1% | ||
| Q2 25 | -12.4% | -74.2% | ||
| Q1 25 | -41.2% | 59.9% | ||
| Q4 24 | -128.6% | 166.5% | ||
| Q3 24 | -25.6% | 63.3% | ||
| Q2 24 | -39.2% | -33.7% | ||
| Q1 24 | -97.6% | 61.4% |
| Q4 25 | 1.3% | 1.6% | ||
| Q3 25 | 1.7% | 0.7% | ||
| Q2 25 | 0.9% | 0.5% | ||
| Q1 25 | 0.4% | 1.0% | ||
| Q4 24 | 2.2% | 2.4% | ||
| Q3 24 | 2.2% | 0.5% | ||
| Q2 24 | 6.1% | 0.5% | ||
| Q1 24 | 3.4% | 0.3% |
| Q4 25 | — | 2.90× | ||
| Q3 25 | — | 3.16× | ||
| Q2 25 | — | -1.54× | ||
| Q1 25 | — | 1.54× | ||
| Q4 24 | — | 4.17× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | -0.89× | ||
| Q1 24 | — | 1.64× |
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% |
UNTY
Segment breakdown not available.
