FTC Solar Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
FTCI$1.55-2.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Comprehensive Loss
| Three months ended March 31, | ||
|---|---|---|
| (in thousands, except shares and per share data) | 2024 | 2023 |
| Revenue: | ||
| Product | $10,905 | $32,579 |
| Service | 1,682 | 8,315 |
| Total revenue | 12,587 | 40,894 |
| Cost of revenue: | ||
| Product | 12,367 | 31,767 |
| Service | 2,328 | 7,092 |
| Total cost of revenue | 14,695 | 38,859 |
| Gross profit (loss) | (2,108) | 2,035 |
| Operating expenses | ||
| Research and development | 1,439 | 1,922 |
| Selling and marketing | 2,388 | 1,711 |
| General and administrative | 6,567 | 10,799 |
| Total operating expenses | 10,394 | 14,432 |
| Loss from operations | (12,502) | (12,397) |
| Interest expense, net | (136) | (58) |
| Gain from disposal of investment in unconsolidated subsidiary | 4,085 | 898 |
| Other income (expense), net | 36 | (74) |
| Loss from unconsolidated subsidiary | (265) | — |
| Loss before income taxes | (8,782) | (11,631) |
| (Provision for) benefit from income taxes | 11 | (131) |
| Net loss | (8,771) | (11,762) |
| Other comprehensive loss: | ||
| Foreign currency translation adjustments | (181) | (5) |
| Comprehensive loss | $(8,952) | $(11,767) |
| Net loss per share: | ||
| Basic and diluted | $(0.07) | $(0.11) |
| Weighted-average common shares outstanding: | ||
| Basic and diluted | 125,569,375 | 106,791,198 |
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