FTC Solar, Inc.
For the period ended Dec 31, 2025. Filed Mar 24, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
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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Item 8. Consolidated Statements of Cash Flows
Consolidated Stat ements of Cash Flows
| Year ended December 31, | ||
|---|---|---|
| (in thousands) | 2025 | 2024 |
| Cash flows from operating activities | ||
| Net loss | $(79,577) | $(48,606) |
| Adjustments to reconcile net loss to cash used in operating activities: | ||
| Stock-based compensation | 4,960 | 5,412 |
| Depreciation and amortization | 1,275 | 1,671 |
| Loss from change in fair value of warrant liability | 40,686 | 4,322 |
| Amortization of debt discount and issue costs | 3,802 | 296 |
| Paid-in-kind non-cash interest | 2,567 | 146 |
| Provision for obsolete and slow-moving inventory | — | 177 |
| (Income) loss from unconsolidated subsidiary | (1,551) | 1,086 |
| Gain from disposal of investment in unconsolidated subsidiary | (3,204) | (8,807) |
| Gain on sale of Atlas | (140) | (906) |
| Loss on extinguishment of debt | 173 | — |
| Bargain purchase gain | (377) | — |
| Warranties issued and remediation added | 3,140 | 7,204 |
| Warranty recoverable from manufacturer | 366 | 558 |
| Credit loss provisions | 1,352 | 2,072 |
| Deferred income taxes | 221 | 83 |
| Lease expense | 1,166 | 1,123 |
| Impact on cash from changes in operating assets and liabilities: | ||
| Accounts receivable | (10,191) | 23,498 |
| Inventories | 1,429 | (6,416) |
| Prepaid and other current assets | 3,498 | (934) |
| Other assets | 35 | (376) |
| Accounts payable | (4,507) | 4,963 |
| Accruals and other current liabilities | 2,559 | (19,292) |
| Deferred revenue | 1,866 | 1,754 |
| Other non-current liabilities | (1,629) | (2,696) |
| Lease payments and other, net | (1,363) | (1,031) |
| Net cash used in operations | (33,444) | (34,699) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (1,129) | (1,645) |
| Proceeds from sale of Atlas software platform | 140 | 900 |
| Proceeds from sale of property and equipment | 6 | — |
| Equity method investment in Alpha Steel | — | (1,800) |
| Acquisitions, net of cash acquired | 580 | — |
| Proceeds from disposal of investment in unconsolidated subsidiary | 3,204 | 8,807 |
| Net cash provided by investing activities | 2,801 | 6,262 |
| Cash flows from financing activities: | ||
| Proceeds from borrowings | 35,955 | 14,550 |
| Sale of common stock | 4,710 | — |
| Stock offering costs paid | (122) | — |
| Financing costs paid | (159) | (60) |
| Proceeds from stock option exercises | 15 | 8 |
| Net cash provided by financing activities | 40,399 | 14,498 |
| Effect of exchange rate changes on cash and cash equivalents | 102 | (49) |
| Increase (decrease) in cash and cash equivalents | 9,858 | (13,988) |
| Cash and cash equivalents at beginning of period | 11,247 | 25,235 |
| Cash and cash equivalents at end of period | $21,105 | $11,247 |
| Supplemental disclosures of cash flow information: | ||
| Purchases of property and equipment included in ending accounts payable and accruals | $17 | $51 |
| Fair value of common stock issued upon warrant exercise | $7,927 | $— |
| Alpha Steel purchase price included in short-term debt | $2,638 | $— |
| Right-of-use asset and lease liability recognition for new leases | $643 | $500 |
| Paid-in-kind non-cash interest added to term loan principal | $2,567 | $146 |
| Cash paid during the period for interest | $786 | $222 |
| Cash paid during the period for taxes, net of refunds | $12 | $133 |
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