FTC Solar, Inc. (FTCI)

NASDAQ: FTCI · Real-Time Price · USD

1.540

-0.050 (-3.14%)

At close: Nov 10, 2026, 4:00 PM EST

1.490

-0.050 (-3.25%)

After-hours: Nov 10, 2026, 5:28 PM EST

FTC Solar Financials Overview

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

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	109.1	99.69	47.36	127	123.07	270.53
Revenue Growth	36.32%	110.51%	-62.71%	3.20%	-54.51%	44.39%
Gross Profit	3.37	-0.85	-12.52	8.56	-27.08	-32.55
Operating Income	-38.77	-35.25	-52.19	-46.36	-99.13	-126.8
Net Income	-24.21	-79.58	-48.61	-50.29	-99.61	-106.59
Earnings Per Share	-5.23	-5.68	-3.83	-4.35	-9.82	-12.40
EPS Growth	-	-	-	-	-	-

Revenue by Geography

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
United States	98.24	42.25	119.98	97.99	270.11
Australia	1.45	4.37	7	24.85	0.42
ALL Other	-	0.73	0.02	0.23	-
Total	99.69	47.36	127	123.07	270.53

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	5.08	21.11	11.25	25.24	44.39	102.19
Total Debt	26.72	23.56	10.63	1.86	1.2	1.79
Net Cash (Debt)	-21.64	-2.45	0.62	23.37	43.18	100.39
Net Cash Growth	-	-	-97.37%	-45.88%	-56.99%	234.75%
Net Cash Per Share	-1.35	-0.18	0.05	2.02	4.26	11.67

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	-6.95	-33.44	-34.7	-52.66	-54.51	-132.85
Capital Expenditures	-1.22	-1.13	-1.65	-0.82	-0.99	-1.03
Free Cash Flow	-8.17	-34.57	-36.34	-53.47	-55.5	-133.88
Free Cash Flow Growth	-	-	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	3.08%	-0.85%	-26.45%	6.74%	-22.01%	-12.03%
Operating Margin	-35.54%	-35.36%	-110.21%	-36.50%	-80.55%	-46.87%
Pretax Margin	-22.87%	-80.86%	-99.86%	-39.34%	-80.59%	-39.21%
Profit Margin	-22.19%	-79.83%	-102.64%	-39.60%	-80.94%	-39.40%
FCF Margin	-7.49%	-34.68%	-76.75%	-42.10%	-45.09%	-49.49%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '26 Nov 10, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Forward PE	-	124.83	124.83	124.83	124.83	124.83
PS Ratio	0.27	1.64	1.50	0.68	2.25	2.38