FTC Solar, Inc.
For the period ended Dec 31, 2025. Filed Mar 24, 2026.
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FY2025 · Filed Mar 24, 2026
FTCI$1.55-2.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| (in thousands, except shares and per share data) | December 31, 2025 | December 31, 2024 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $21,105 | $11,247 |
| Accounts receivable, net of allowance for credit losses of $3,069 and $1,717 at December 31, 2025 and December 31, 2024, respectively | 55,743 | 39,709 |
| Inventories | 9,627 | 10,144 |
| Prepaid and other current assets | 11,294 | 15,028 |
| Total current assets | 97,769 | 76,128 |
| Operating lease right-of-use assets | 983 | 1,149 |
| Property and equipment, net | 3,793 | 2,217 |
| Goodwill | 7,444 | 7,139 |
| Equity method investment | — | 954 |
| Other assets | 1,823 | 2,341 |
| Total assets | $111,812 | $89,928 |
| LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | ||
| Current liabilities | ||
| Accounts payable | $13,247 | $12,995 |
| Short-term debt | 12,681 | — |
| Accrued expenses | 23,770 | 20,134 |
| Income taxes payable | 630 | 325 |
| Deferred revenue | 7,172 | 5,306 |
| Other current liabilities | 10,725 | 10,313 |
| Total current liabilities | 68,225 | 49,073 |
| Long-term debt | 9,921 | 9,466 |
| Operating lease liability, net of current portion | 553 | 411 |
| Warrant liability | 74,515 | 9,520 |
| Other non-current liabilities | 1,556 | 2,422 |
| Total liabilities | 154,770 | 70,892 |
| Commitments and contingencies (Note 15) | ||
| Stockholders’ equity (deficit) | ||
| Preferred stock par value of $0.0001 per share, 10,000,000 shares authorized; none issued as of December 31, 2025 and December 31, 2024 | — | — |
| Common stock par value of $0.0001 per share, 850,000,000 shares authorized; 15,537,344 and 12,853,823 shares issued and outstanding as of December 31, 2025 and December 31, 2024 | 2 | 1 |
| Treasury stock, at cost; 1,076,257 shares as of December 31, 2025 and December 31, 2024 | — | — |
| Additional paid-in capital | 384,648 | 367,318 |
| Accumulated other comprehensive loss | (290) | (542) |
| Accumulated deficit | (427,318) | (347,741) |
| Total stockholders' equity (deficit) | (42,958) | 19,036 |
| Total liabilities and stockholders’ equity (deficit) | $111,812 | $89,928 |
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