FTC Solar, Inc.
8.72+0.15 (+1.75%)
Oct 29, 4:00:00 PM EDT · NasdaqCM · FTCI · USD
Key Stats
Market Cap
129.71MP/E (TTM)
-Basic EPS (TTM)
-3.65Dividend Yield
0%Recent Filings
8-K
Stockholders approve share expansions
FTC Solar stockholders approved two key proposals at the September 4, 2025 special meeting, unlocking 6,836,237 common shares upon warrant exercises beyond existing caps and adding 2,000,000 shares to the 2021 Stock Incentive Plan's reserve, now totaling 5,071,068 shares post-reverse split. This bolsters equity incentives amid the company's emerging growth status. Warrants expand potential dilution; plan supports talent retention.
10-Q
Q2 FY2025 results
FTC Solar's Q2 revenue jumped 75% year-over-year to $20M, driven by 147% higher MW produced from recent 1P tracker wins, though average selling prices dipped 27% on project mix shifts; service revenue rose 56% on logistics gains. Gross margins held steady at -19.6%, pressured by tariffs and Alpha Steel commitments yet buoyed by headcount cuts and lower warranty costs. Operating loss narrowed to $11.5M from $11.9M, with expenses down 21% on payroll and professional fee trims. Cash dipped to $3.5M amid $10.8M YTD operating burn, but July's $13M net from a $75M credit facility—secured by assets, maturing 2029 at 12% interest—bolsters liquidity, alongside $13.8M ATM capacity. Free cash flow not disclosed in the 10-Q. Revenue surged, but tariffs sting.
8-K
Q2 revenue up 75%, new financing
FTC Solar reported Q2 2025 revenue of $20.0 million, surging 74.9% year-over-year yet posting a $15.4 million net loss amid persistent gross losses. The company secured a $75 million financing facility on July 2, providing runway to profitability while bolstering customer confidence. Dean Priddy retired from the board on August 4; Tony Alvarez, with deep solar expertise, stepped in as independent director and Audit Committee chair on August 5. Backlog hit $470 million. Q3 revenue guidance spans $18.0–$24.0 million.
8-K
FTC Solar announces $75M strategic financing with $14.3M received July 2 and $23.2M expected in Q3 2025; total funding scalable to $75M.
FTC Solar, Inc. (Nasdaq: FTCI) has entered into a $75 million strategic financing facility with Cleanhill Partners and affiliates, AV Securities, and other long-term investors. The facility includes an initial term loan of up to $37.5 million, with $14.3 million funded on July 2, 2025, and an additional $23.2 million expected in Q3 2025, subject to shareholder approval. The remaining $37.5 million is available for future needs. The financing supports balance sheet strengthening, growth, and general corporate purposes. The company has added over 6.5 GW of new business with Tier 1 customers recently.
8-K
Annual meeting elects directors
FTC Solar's stockholders convened their annual meeting on June 11, 2025, electing Pablo Barahona, Darrell Jackson, and David Springer as directors until the 2028 meeting, with strong support exceeding 3.5 million votes each amid 4.2 million broker non-votes. They also ratified BDO USA, P.C. as independent auditors for the year ending December 31, 2025, passing decisively with 7.7 million for votes. Governance continuity holds firm.
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