FTC Solar Inc
For the period ended Jun 30, 2024. Filed Aug 8, 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.
Jun 30, 2024 · Filed Aug 8, 2024
FTCI$1.59+1.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
| (in thousands, except shares and per share data) | June 30, 2024 | December 31, 2023 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $10,779 | $25,235 |
| Accounts receivable, net | 41,511 | 65,279 |
| Inventories | 17,061 | 3,905 |
| Prepaid and other current assets | 14,969 | 14,089 |
| Total current assets | 84,320 | 108,508 |
| Operating lease right-of-use assets | 1,926 | 1,819 |
| Property and equipment, net | 2,446 | 1,823 |
| Intangible assets, net | 264 | 542 |
| Goodwill | 7,169 | 7,353 |
| Equity method investment | 1,529 | 240 |
| Other assets | 2,696 | 2,785 |
| Total assets | $100,350 | $123,070 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities | ||
| Accounts payable | $17,580 | $7,979 |
| Accrued expenses | 22,835 | 34,848 |
| Income taxes payable | 106 | 88 |
| Deferred revenue | 2,595 | 3,612 |
| Other current liabilities | 8,202 | 8,138 |
| Total current liabilities | 51,318 | 54,665 |
| Operating lease liability, net of current portion | 1,107 | 1,124 |
| Other non-current liabilities | 3,684 | 4,810 |
| Total liabilities | 56,109 | 60,599 |
| Commitments and contingencies (Note 14) | ||
| Stockholders’ equity | ||
| Preferred stock par value of $0.0001 per share, 10,000,000 shares authorized; none issued as of June 30, 2024 and December 31, 2023 | — | — |
| Common stock par value of $0.0001 per share, 850,000,000 shares authorized; 127,002,580 and 125,445,325 shares issued and outstanding as of June 30, 2024 and December 31, 2023 | 13 | 13 |
| Treasury stock, at cost; 10,762,566 shares as of June 30, 2024 and December 31, 2023 | — | — |
| Additional paid-in capital | 364,813 | 361,886 |
| Accumulated other comprehensive loss | (438) | (293) |
| Accumulated deficit | (320,147) | (299,135) |
| Total stockholders’ equity | 44,241 | 62,471 |
| Total liabilities and stockholders’ equity | $100,350 | $123,070 |
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