FTC Solar, Inc.

For the period ended Dec 31, 2024. Filed Mar 31, 2025.

About this filing

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

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Contents

Consolidated Statements of Comprehensive Loss

	Year ended December 31,
(in thousands, except shares and per share data)	2024	2023
Revenue:
Product	$37,520	$101,872
Service	9,835	25,130
Total revenue	47,355	127,002
Cost of revenue:
Product	48,185	93,314
Service	11,764	25,381
Total cost of revenue	59,949	118,695
Gross profit (loss)	(12,594)	8,307
Operating expenses
Research and development	5,915	7,166
Selling and marketing	8,881	14,811
General and administrative	25,440	37,107
Total operating expenses	40,236	59,084
Loss from operations	(52,830)	(50,777)
Interest expense, net	(319)	(253)
Gain from disposal of investment in unconsolidated subsidiary	8,807	1,319
Gain on sale of Atlas	906	—
Loss from change in fair value of warrant liability	(4,322)	—
Other income (expense), net	468	(257)
Loss from unconsolidated subsidiary	(1,086)	(660)
Loss before income taxes	(48,376)	(50,628)
(Provision for) benefit from income taxes	(230)	338
Net loss	(48,606)	(50,290)
Other comprehensive loss:
Foreign currency translation adjustments	(249)	(232)
Comprehensive loss	$(48,855)	$(50,522)
Net loss per share:
Basic and diluted (*)	$(3.83)	$(4.35)
Weighted-average common shares outstanding:
Basic and diluted (*)	12,675,923	11,554,615

* -	Prior year amounts per share and number of shares, as applicable, have been revised to reflect the Reverse Stock Split, effective November 29, 2024.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.