FTC Solar, Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 31, 2025
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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Consolidated Balance Sheets
| (in thousands, except shares and per share data) | December 31, 2024 | December 31, 2023 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $11,247 | $25,235 |
| Accounts receivable, net of allowance for credit losses of $1,717 and $8,557 at December 31, 2024 and December 31, 2023, respectively | 39,709 | 65,279 |
| Inventories | 10,144 | 3,905 |
| Prepaid and other current assets | 15,028 | 14,089 |
| Total current assets | 76,128 | 108,508 |
| Operating lease right-of-use assets | 1,149 | 1,819 |
| Property and equipment, net | 2,217 | 1,823 |
| Intangible assets, net | — | 542 |
| Goodwill | 7,139 | 7,353 |
| Equity method investment | 954 | 240 |
| Other assets | 2,341 | 2,785 |
| Total assets | $89,928 | $123,070 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities | ||
| Accounts payable | $12,995 | $7,979 |
| Accrued expenses | 20,134 | 34,848 |
| Income taxes payable | 325 | 88 |
| Deferred revenue | 5,306 | 3,612 |
| Other current liabilities | 10,313 | 8,138 |
| Total current liabilities | 49,073 | 54,665 |
| Long-term debt | 9,466 | — |
| Operating lease liability, net of current portion | 411 | 1,124 |
| Warrant liability | 9,520 | — |
| Other non-current liabilities | 2,422 | 4,810 |
| Total liabilities | 70,892 | 60,599 |
| Commitments and contingencies (Note 15) | ||
| Stockholders’ equity | ||
| Preferred stock par value of $0.0001 per share, 10,000,000 shares authorized; none issued as of December 31, 2024 and December 31, 2023 | — | — |
| Common stock par value of $0.0001 per share, 850,000,000 shares authorized; 12,853,823 and 12,544,533 shares issued and outstanding as of December 31, 2024 and December 31, 2023(*) | 1 | 1 |
| Treasury stock, at cost; 1,076,257 shares as of December 31, 2024 and December 31, 2023 | — | — |
| Additional paid-in capital(*) | 367,318 | 361,898 |
| Accumulated other comprehensive loss | (542) | (293) |
| Accumulated deficit | (347,741) | (299,135) |
| Total stockholders’ equity | 19,036 | 62,471 |
| Total liabilities and stockholders’ equity | $89,928 | $123,070 |
| * - | Prior year shares and amounts, as applicable, have been revised to reflect the Reverse Stock Split, effective November 29, 2024. |
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.