FTC Solar Inc
For the period ended Sep 30, 2024. Filed Nov 12, 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.
Sep 30, 2024 · Filed Nov 12, 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 September 30, | Nine months ended September 30, | |||
|---|---|---|---|---|
| (in thousands, except shares and per share data) | 2024 | 2023 | 2024 | 2023 |
| Revenue: | ||||
| Product | $7,411 | $27,274 | $27,092 | $80,927 |
| Service | 2,725 | 3,274 | 7,061 | 22,874 |
| Total revenue | 10,136 | 30,548 | 34,153 | 103,801 |
| Cost of revenue: | ||||
| Product | 11,798 | 22,775 | 34,632 | 73,694 |
| Service | 2,644 | 4,394 | 8,278 | 22,492 |
| Total cost of revenue | 14,442 | 27,169 | 42,910 | 96,186 |
| Gross profit (loss) | (4,306) | 3,379 | (8,757) | 7,615 |
| Operating expenses | ||||
| Research and development | 1,467 | 1,921 | 4,441 | 5,716 |
| Selling and marketing | 2,406 | 6,324 | 6,830 | 9,887 |
| General and administrative | 6,797 | 11,411 | 19,374 | 31,053 |
| Total operating expenses | 10,670 | 19,656 | 30,645 | 46,656 |
| Loss from operations | (14,976) | (16,277) | (39,402) | (39,041) |
| Interest income (expense), net | 24 | (108) | (111) | (194) |
| Gain from disposal of investment in unconsolidated subsidiary | — | — | 4,085 | 898 |
| Other income (expense), net | 93 | (50) | 122 | (265) |
| Loss from unconsolidated subsidiary | (256) | (336) | (767) | (336) |
| Loss before income taxes | (15,115) | (16,771) | (36,073) | (38,938) |
| Provision for income taxes | (244) | (166) | (298) | (175) |
| Net loss | (15,359) | (16,937) | (36,371) | (39,113) |
| Other comprehensive income (loss): | ||||
| Foreign currency translation adjustments | 207 | (38) | 62 | (451) |
| Comprehensive loss | $(15,152) | $(16,975) | $(36,309) | $(39,564) |
| Net loss per share: | ||||
| Basic and diluted | $(0.12) | $(0.14) | $(0.29) | $(0.35) |
| Weighted-average common shares outstanding: | ||||
| Basic and diluted | 127,380,292 | 119,793,821 | 126,234,997 | 112,794,562 |
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