FTC Solar, Inc.
For the period ended Sep 30, 2025. Filed Nov 12, 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.
Sep 30, 2025 · Filed Nov 12, 2025
FTCI$1.59+1.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
| (in thousands, except shares and per share data) | September 30, 2025 | December 31, 2024 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $24,369 | $11,247 |
| Accounts receivable, net of allowance for credit losses of $2,283 and $1,717 at September 30, 2025 and December 31, 2024, respectively | 49,193 | 39,709 |
| Inventories | 7,655 | 10,144 |
| Prepaid and other current assets | 15,374 | 15,028 |
| Total current assets | 96,591 | 76,128 |
| Operating lease right-of-use assets | 1,026 | 1,149 |
| Property and equipment, net | 2,229 | 2,217 |
| Goodwill | 7,312 | 7,139 |
| Equity method investment | 2,298 | 954 |
| Other assets | 2,069 | 2,341 |
| Total assets | $111,525 | $89,928 |
| LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | ||
| Current liabilities | ||
| Accounts payable | $16,313 | $12,995 |
| Accrued expenses | 26,850 | 20,134 |
| Income taxes payable | 452 | 325 |
| Deferred revenue | 4,408 | 5,306 |
| Other current liabilities | 10,111 | 10,313 |
| Total current liabilities | 58,134 | 49,073 |
| Long-term debt | 16,648 | 9,466 |
| Operating lease liability, net of current portion | 583 | 411 |
| Warrant liability | 48,127 | 9,520 |
| Other non-current liabilities | 1,765 | 2,422 |
| Total liabilities | 125,257 | 70,892 |
| Commitments and contingencies (Note 13) | ||
| Stockholders’ equity | ||
| Preferred stock par value of $0.0001 per share, 10,000,000 shares authorized; none issued as of September 30, 2025 and December 31, 2024 | — | — |
| Common stock par value of $0.0001 per share, 850,000,000 shares authorized; 14,937,835 and 12,853,823 shares issued and outstanding as of September 30, 2025 and December 31, 2024 | 1 | 1 |
| Treasury stock, at cost; 1,076,257 shares as of September 30, 2025 and December 31, 2024 | — | — |
| Additional paid-in capital | 377,591 | 367,318 |
| Accumulated other comprehensive loss | (396) | (542) |
| Accumulated deficit | (390,928) | (347,741) |
| Total stockholders' equity (deficit) | (13,732) | 19,036 |
| Total liabilities and stockholders’ equity (deficit) | $111,525 | $89,928 |
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