FTC Solar, Inc. (FTCI)

FTC Solar Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	64.13	47.36	127	123.07	270.53	187.35
Revenue Growth (YoY)	-17.53%	-62.71%	3.20%	-54.51%	44.39%	252.67%
Cost of Revenue	79.64	59.95	118.7	150.29	303.07	183.71
Gross Profit	-15.51	-12.59	8.31	-27.23	-32.55	3.64
Selling, General & Admin	29.96	34.32	51.92	62.4	82.72	15.34
Research & Development	4.99	5.92	7.17	9.95	11.54	5.22
Total Operating Expenses	34.95	40.24	59.08	72.34	94.26	20.57
Operating Income	-50.46	-52.83	-50.78	-99.57	-126.8	-16.93
Interest Expense	-	-0.32	-0.25	-0.98	-0.81	-0.36
Other Non-Operating Income (Expense)	7.3	4.77	0.4	1.37	21.2	1.28
Total Non-Operating Income (Expense)	7.3	4.45	0.15	0.39	20.38	0.92
Pretax Income	-43.16	-48.38	-50.63	-99.18	-106.42	-16.01
Provision for Income Taxes	-0.47	-0.23	0.34	-0.44	-0.17	0.08
Net Income	-46.84	-48.61	-50.29	-99.61	-106.59	-15.92
Net Income to Common	-46.84	-48.61	-50.29	-99.61	-106.59	-15.92
Shares Outstanding (Basic)	13	13	12	10	9	7
Shares Outstanding (Diluted)	13	13	12	10	9	7
Shares Change (YoY)	7.52%	9.70%	13.94%	17.86%	25.04%	10.91%
EPS (Basic)	-3.61	-3.83	-4.35	-9.80	-12.40	-2.30
EPS (Diluted)	-3.89	-3.83	-4.35	-9.80	-12.40	-2.30
Free Cash Flow	-30.63	-36.34	-53.47	-55.5	-133.88	0.37
Free Cash Flow Per Share	-2.30	-2.87	-4.63	-5.47	-15.56	0.05
Gross Margin	-24.18%	-26.59%	6.54%	-22.12%	-12.03%	1.94%
Operating Margin	-78.68%	-111.56%	-39.98%	-80.91%	-46.87%	-9.03%
Profit Margin	-66.57%	-101.67%	-40.13%	-80.24%	-39.28%	-8.59%
FCF Margin	-47.75%	-76.75%	-42.10%	-45.09%	-49.49%	0.20%
EBITDA	-45.26	-47.42	-42.48	-98.67	-126.57	-16.88
EBITDA Margin	-70.56%	-100.13%	-33.45%	-80.18%	-46.79%	-9.01%
EBIT	-50.46	-52.83	-50.78	-99.57	-126.8	-16.93
EBIT Margin	-78.68%	-111.56%	-39.98%	-80.91%	-46.87%	-9.03%
Effective Tax Rate	1.09%	0.48%	-0.67%	0.44%	0.16%	-0.52%

Updated Aug 5, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q