FTC Solar, Inc.
For the period ended Mar 31, 2025. Filed May 1, 2025.
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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, 2025 · Filed May 1, 2025
FTCI$1.55-2.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
| Three months ended March 31, | ||
|---|---|---|
| (in thousands) | 2025 | 2024 |
| Cash flows from operating activities | ||
| Net loss | $(3,819) | $(8,771) |
| Adjustments to reconcile net loss to cash used in operating activities: | ||
| Stock-based compensation | 280 | 1,639 |
| Depreciation and amortization | 302 | 404 |
| Gain from change in fair value of warrant liability | (4,604) | — |
| Gain from sale of property and equipment | (3) | — |
| Amortization of debt discount and issue costs | 210 | 177 |
| Paid-in-kind non-cash interest | 492 | — |
| Provision for obsolete and slow-moving inventory | — | 177 |
| Loss from unconsolidated subsidiary | 112 | 265 |
| Gain from disposal of investment in unconsolidated subsidiary | (3,204) | (4,085) |
| Warranties issued and remediation added | 1,045 | 838 |
| Warranty recoverable from manufacturer | 80 | 98 |
| Credit loss (credits) provisions | (92) | 670 |
| Deferred income taxes | 426 | 225 |
| Lease expense and other | 327 | 309 |
| Impact on cash from changes in operating assets and liabilities: | ||
| Accounts receivable | (4,437) | (1,770) |
| Inventories | 3,316 | (116) |
| Prepaid and other current assets | 918 | 45 |
| Other assets | (216) | (226) |
| Accounts payable | 1,688 | 3,989 |
| Accruals and other current liabilities | 2,539 | (6,200) |
| Deferred revenue | (3,069) | 1,285 |
| Other non-current liabilities | (415) | (523) |
| Lease payments and other, net | (359) | (287) |
| Net cash used in operations | (8,483) | (11,857) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (83) | (432) |
| Proceeds from sale of property and equipment | 3 | — |
| Equity method investment in Alpha Steel | — | (1,035) |
| Proceeds from disposal of investment in unconsolidated subsidiary | 3,204 | 4,085 |
| Net cash provided by investing activities | 3,124 | 2,618 |
| Cash flows from financing activities: | ||
| Proceeds from stock option exercises | 3 | — |
| Net cash provided by financing activities | 3 | — |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 18 | (59) |
| Decrease in cash, cash equivalents and restricted cash | (5,338) | (9,298) |
| Cash and cash equivalents at beginning of period | 11,247 | 25,235 |
| Cash, cash equivalents and restricted cash at end of period | $5,909 | $15,937 |
| Supplemental disclosures of cash flow information: | ||
| Purchases of property and equipment included in ending accounts payable and accruals | $4 | $175 |
| Paid-in-kind non-cash interest added to Senior Notes principal | $492 | $— |
| Cash paid during the period for interest | $8 | $140 |
| Cash paid during the period for taxes, net of refunds | $7 | $58 |
| Reconciliation of cash, cash equivalents and restricted cash at period end: | March 31,2025 | March 31,2024 |
| Cash and cash equivalents | $5,909 | $14,041 |
| Restricted cash | — | 1,896 |
| Total cash, cash equivalents and restricted cash | $5,909 | $15,937 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.