FTC Solar Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	24.37	11.25	25.24	44.39	102.19	32.36
Cash & Short-Term Investments	24.37	11.25	25.24	44.39	102.19	32.36
Cash Growth	195.20%	-55.43%	-43.15%	-56.56%	215.78%	348.12%
Accounts Receivable	45.39	36.59	64.41	49.03	107.4	23.69
Other Receivables	3.81	3.12	0.87	0.03	0.15	0.05
Receivables	51.19	41.71	68.28	49.05	107.55	23.73
Inventory	7.66	10.14	3.91	14.95	8.86	1.69
Prepaid Expenses	3.09	1.44	1.7	3.71	2.57	1.04
Restricted Cash	-	-	-	-	-	1.01
Other Current Assets	10.28	11.59	9.39	6.6	14.62	5.88
Total Current Assets	96.59	76.13	108.51	118.69	235.78	65.72
Property, Plant & Equipment	3.26	3.37	3.64	2.86	3.32	0.88
Long-Term Investments	2.3	0.95	0.24	-	-	1.86
Goodwill	7.31	7.14	7.35	7.54	-	-
Other Intangible Assets	-	-	0.54	1.11	-	-
Other Long-Term Assets	2.07	2.34	2.79	4.2	3.93	2.94
Total Assets	111.53	89.93	123.07	134.4	243.02	71.39
Accounts Payable	16.31	13	7.98	15.8	39.26	17.13
Accrued Expenses	4.83	5.46	6.74	11.16	4.85	6.59
Short-Term Debt	-	-	-	-	-	1
Current Portion of Leases	0.42	0.76	0.74	0.42	0.45	0.23
Current Income Taxes Payable	0.45	0.33	0.09	0.44	0.05	0.08
Current Unearned Revenue	4.41	5.31	3.61	11.32	1.42	22.98
Other Current Liabilities	31.7	24.23	35.5	21.2	47.22	11.81
Total Current Liabilities	58.13	49.07	54.67	60.34	93.25	59.81
Long-Term Debt	16.65	9.47	-	-	-	0.78
Long-Term Leases	0.58	0.41	1.12	0.79	1.34	0.36
Other Long-Term Liabilities	49.89	11.94	4.81	6.82	5.57	2.99
Total Liabilities	125.26	70.89	60.6	67.95	100.15	63.94
Common Stock	0	0	0	0.01	0.01	0
Additional Paid-In Capital	377.59	367.32	361.9	315.35	292.08	50.1
Retained Earnings	-390.93	-347.74	-299.14	-248.85	-149.23	-42.64
Comprehensive Income & Other	-0.4	-0.54	-0.29	-0.06	0.01	-0
Shareholders' Equity	-13.73	19.04	62.47	66.45	142.87	7.45
Total Liabilities & Equity	111.53	89.93	123.07	134.4	243.02	71.39
Total Debt	17.66	10.63	1.86	1.2	1.79	2.37
Net Cash (Debt)	6.71	0.62	23.37	43.18	100.39	29.99
Net Cash Growth	3.29%	-97.37%	-45.88%	-56.99%	234.75%	-
Net Cash Per Share	0.50	0.05	2.02	4.26	11.67	4.36
Filing Date Shares Outstanding	14.94	12.87	12.56	10.62	9.91	5.63
Total Common Shares Outstanding	14.94	12.85	12.54	10.5	9.26	5.63
Working Capital	38.46	27.06	53.84	58.35	142.53	5.91
Book Value Per Share	-0.92	1.48	4.98	6.33	15.43	1.32
Tangible Book Value	-21.04	11.9	54.58	57.8	142.87	7.45
Tangible Book Value Per Share	-1.41	0.93	4.35	5.50	15.43	1.32
Machinery	4.21	3.61	2.54	2.26	1.56	0.07
Leasehold Improvements	0.41	0.34	0.16	0.02	0.02	0.01

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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