FTC Solar, Inc.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
View on SEC.govAbout 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.
Sep 30, 2025 · Filed Nov 12, 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 Comprehensive Loss
| Three months ended September 30, | Nine months ended September 30, | |||
|---|---|---|---|---|
| (in thousands, except shares and per share data) | 2025 | 2024 | 2025 | 2024 |
| Revenue: | ||||
| Product | $20,061 | $7,411 | $54,130 | $27,092 |
| Service | 5,969 | 2,725 | 12,696 | 7,061 |
| Total revenue | 26,030 | 10,136 | 66,826 | 34,153 |
| Cost of revenue: | ||||
| Product | 18,550 | 11,798 | 57,537 | 34,632 |
| Service | 5,886 | 2,644 | 15,061 | 8,278 |
| Total cost of revenue | 24,436 | 14,442 | 72,598 | 42,910 |
| Gross profit (loss) | 1,594 | (4,306) | (5,772) | (8,757) |
| Operating expenses | ||||
| Research and development | 1,228 | 1,467 | 3,281 | 4,441 |
| Selling and marketing | 1,672 | 2,406 | 4,099 | 6,830 |
| General and administrative | 6,399 | 6,797 | 16,612 | 19,374 |
| Total operating expenses | 9,299 | 10,670 | 23,992 | 30,645 |
| Loss from operations | (7,705) | (14,976) | (29,764) | (39,402) |
| Interest expense | (1,988) | (14) | (3,430) | (448) |
| Interest income | 6 | 38 | 17 | 337 |
| Gain from disposal of investment in unconsolidated subsidiary | — | — | 3,204 | 4,085 |
| Gain on sale of Atlas | 90 | — | 140 | — |
| Loss from change in fair value of warrant liability | (16,066) | — | (14,298) | — |
| Loss on extinguishment of debt | (173) | — | (173) | — |
| Other income, net | 35 | 93 | 110 | 122 |
| Income (loss) from unconsolidated subsidiary | 1,907 | (256) | 1,344 | (767) |
| Loss before income taxes | (23,894) | (15,115) | (42,850) | (36,073) |
| Provision for income taxes | (44) | (244) | (337) | (298) |
| Net loss | (23,938) | (15,359) | (43,187) | (36,371) |
| Other comprehensive income: | ||||
| Foreign currency translation adjustments | 37 | 207 | 146 | 62 |
| Comprehensive loss | $(23,901) | $(15,152) | $(43,041) | $(36,309) |
| Net loss per share: | ||||
| Basic and diluted(*) | $(1.61) | $(1.21) | $(3.17) | $(2.88) |
| Weighted-average common shares outstanding: | ||||
| Basic and diluted(*) | 14,899,638 | 12,738,030 | 13,626,800 | 12,623,500 |
| * | Prior year per-share amounts and number of shares, as applicable, have been revised to reflect the 1-for-10 reverse stock split effective November 29, 2024. |
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