FTC Solar, Inc.

For the period ended Mar 31, 2025. Filed May 1, 2025.

About this filing

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

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Contents

Condensed Consolidated Statements of Comprehensive Loss

	Three months ended March 31,
(in thousands, except shares and per share data)	2025	2024
Revenue:
Product	$18,202	$10,905
Service	2,601	1,682
Total revenue	20,803	12,587
Cost of revenue:
Product	20,111	12,367
Service	4,139	2,328
Total cost of revenue	24,250	14,695
Gross loss	(3,447)	(2,108)
Operating expenses
Research and development	924	1,439
Selling and marketing	1,136	2,388
General and administrative	5,053	6,567
Total operating expenses	7,113	10,394
Loss from operations	(10,560)	(12,502)
Interest expense	(711)	(317)
Interest income	6	181
Gain from disposal of investment in unconsolidated subsidiary	3,204	4,085
Gain from change in fair value of warrant liability	4,604	—
Other income, net	4	36
Loss from unconsolidated subsidiary	(112)	(265)
Loss before income taxes	(3,565)	(8,782)
(Provision for) benefit from income taxes	(254)	11
Net loss	(3,819)	(8,771)
Other comprehensive income (loss):
Foreign currency translation adjustments	28	(181)
Comprehensive loss	$(3,791)	$(8,952)
Net loss per share:
Basic(*)	$(0.30)	$(0.70)
Diluted(*)	$(0.58)	$(0.70)
Weighted-average common shares outstanding:
Basic(*)	12,888,695	12,556,938
Diluted(*)	14,588,972	12,556,938

* -	Prior year per-share amounts 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.