FTC Solar, Inc. (FTCI) Financial Statements
Industry: Semiconductors & Related Devices
In fiscal 2025, FTC Solar reported revenue of $99.7M, up 110.5% from $47.4M the year before. Net income was -$79.6M (a -79.8% net margin), or -$5.68 per diluted share. Gross margin was -0.9% and operating margin was -35.5%. Operating activities generated -$33.4M of cash, leaving -$34.5M of free cash flow. At fiscal year end, FTC Solar held $111.8M in total assets against $154.8M in total liabilities, including $21.1M of cash and equivalents.
Open the full interactive FTC Solar financials → Quarterly statements, key ratios, valuation history and price charts.
FTC Solar Key Stats
| Share Price | $1.87 |
|---|---|
| Market Cap | $30.0M |
| Revenue YoY Growth | +110.5% |
| 52-Week Range | $1.83 – $12.50 |
| Shares Outstanding | 16.0 million (basic, 2026 Q2) |
FTC Solar Income Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $270.5M | $123.1M | $127.0M | $47.4M | $99.7M |
| Cost of Goods Sold | $303.1M | $150.3M | $118.7M | $59.9M | $100.6M |
| Gross Profit | -$32.5M | -$27.2M | $8.3M | -$12.6M | -$880,000 |
| Operating Income | -$126.8M | -$99.6M | -$50.8M | -$52.8M | -$35.4M |
| Pre-Tax Income | -$106.4M | -$99.2M | -$50.6M | -$48.4M | -$79.1M |
| Income Tax | $169,000 | $435,000 | -$338,000 | $230,000 | $525,000 |
| Net Income | -$106.6M | -$99.6M | -$50.3M | -$48.6M | -$79.6M |
| Diluted EPS | -$12.40 | -$9.80 | -$4.40 | -$3.83 | -$5.68 |
FTC Solar Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $26.0M | $32.9M | $17.3M | $26.2M |
| Net Income | -$23.9M | -$36.4M | $32.6M | -$27.1M |
| Diluted EPS | -$1.61 | -$2.60 | -$0.72 | -$1.69 |
FTC Solar Balance Sheet
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Cash & Equivalents | $102.2M | $44.4M | $25.2M | $11.2M | $21.1M |
| Current Assets | $235.8M | $118.7M | $108.5M | $76.1M | $97.8M |
| Total Assets | $243.0M | $134.4M | $123.1M | $89.9M | $111.8M |
| Current Liabilities | $93.2M | $60.3M | $54.7M | $49.1M | $68.2M |
| Total Long-Term Debt | — | — | — | $9.5M | $55.2M |
| Total Liabilities | $100.2M | $67.9M | $60.6M | $70.9M | $154.8M |
| Shareholders' Equity | $142.9M | $66.5M | $62.5M | $19.0M | -$43.0M |
FTC Solar Cash Flow Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Cash From Operations | -$132.9M | -$54.5M | -$52.7M | -$34.7M | -$33.4M |
| Cash From Investing | $21.3M | -$4.2M | -$397,000 | $6.3M | $2.8M |
| Cash From Financing | $180.4M | $903,000 | $34.0M | $14.5M | $40.4M |
| Free Cash Flow | -$133.9M | -$55.5M | -$53.5M | -$36.3M | -$34.5M |
Figures from FTC Solar's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full FTC Solar financials page for every line item.
FTC Solar Company Profile
| Ticker | FTCI |
|---|---|
| Exchange | Nasdaq |
| Industry | Semiconductors & Related Devices |
| Headquarters | Austin, Texas |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Emerging growth company |
| SEC CIK | 0001828161 |
Frequently Asked Questions
What was FTC Solar's revenue in fiscal 2025?
FTC Solar (FTCI) reported revenue of $99.7M for fiscal 2025.
What is FTC Solar's annual revenue history?
FTC Solar's annual revenue by fiscal year: 2021: $270.5M; 2022: $123.1M; 2023: $127.0M; 2024: $47.4M; 2025: $99.7M.
What was FTC Solar's net income in fiscal 2025?
FTC Solar reported net income of -$79.6M for fiscal 2025.
What was FTC Solar's earnings per share (EPS) in fiscal 2025?
FTC Solar's diluted EPS was -$5.68 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did FTC Solar generate in fiscal 2025?
FTC Solar generated -$34.5M of free cash flow in fiscal 2025.
What was FTC Solar's revenue last quarter?
In its most recent reported quarter (2026 Q2), FTC Solar reported revenue of $26.2M.
How much debt does FTC Solar have?
FTC Solar reported $55.2M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of FTC Solar are outstanding?
FTC Solar reported a weighted average of 16.0 million basic shares outstanding in 2026 Q2.
What is FTC Solar's market cap?
Based on its latest closing price, FTC Solar (FTCI) has a market capitalization of about $30.0M.
When does FTC Solar's fiscal year end?
FTC Solar's fiscal year end, as registered with the SEC, is December 31.
Where is FTC Solar headquartered?
FTC Solar lists its business address in Austin, Texas in its SEC filings.