FTC Solar, Inc.
For the period ended Sep 30, 2026. Filed Nov 4, 2026.
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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, 2026 · Filed Nov 4, 2026
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 Cash Flows
| Nine months ended September 30, | ||
|---|---|---|
| (in thousands) | 2026 | 2025 |
| Cash flows from operating activities | ||
| Net income (loss) | $12,177 | $(43,187) |
| Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: | ||
| Stock-based compensation | 7,604 | 2,343 |
| Depreciation and amortization | 1,249 | 897 |
| (Gain) loss from change in fair value of warrant liability | (59,335) | 14,298 |
| Amortization of debt discount and issue costs | 7,155 | 1,385 |
| Paid-in-kind non-cash interest | 3,267 | 1,567 |
| Provision for obsolete and slow-moving inventory | 1,467 | — |
| Income from unconsolidated subsidiary | — | (1,344) |
| Gain from disposal of investment in unconsolidated subsidiary | — | (3,204) |
| Gain on sale of Atlas | (26) | (140) |
| Loss on extinguishment of debt | — | 173 |
| Warranties issued and remediation added | 2,235 | 2,073 |
| Warranty recoverable from manufacturer | 60 | 271 |
| Credit loss provisions (credits) | 16 | 566 |
| Deferred income taxes | 229 | 425 |
| Lease expense | 784 | 884 |
| Impact on cash from changes in operating assets and liabilities: | ||
| Accounts receivable | (2,003) | (9,875) |
| Inventories | 21 | 2,489 |
| Prepaid and other current assets | (9,850) | (399) |
| Other assets | (191) | (344) |
| Accounts payable | 2,823 | 3,150 |
| Accruals and other current liabilities | 33,763 | 5,696 |
| Deferred revenue | 1,500 | (898) |
| Other non-current liabilities | (1,021) | (1,208) |
| Lease payments and other, net | (847) | (1,034) |
| Net cash provided by (used in) operations | 1,077 | (25,416) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (885) | (793) |
| Proceeds from sale of Atlas software platform | 26 | 140 |
| Proceeds from sale of property and equipment | — | 6 |
| Proceeds from disposal of investment in unconsolidated subsidiary | — | 3,204 |
| Net cash (used in) provided by investing activities | (859) | 2,557 |
| Cash flows from financing activities: | ||
| Proceeds from borrowings | — | 35,955 |
| Repayments of borrowings | (7,406) | — |
| Proceeds from sale of common stock | 3,335 | — |
| Stock offering costs paid | (78) | — |
| Financing costs paid | (465) | (58) |
| Finance lease principal payments | (24) | — |
| Proceeds from stock option exercises | — | 3 |
| Net cash (used in) provided by financing activities | (4,638) | 35,900 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (1) | 81 |
| Increase (decrease) in cash, cash equivalents and restricted cash | (4,421) | 13,122 |
| Cash and cash equivalents at beginning of period | 21,105 | 11,247 |
| Cash, cash equivalents and restricted cash at end of period | $16,684 | $24,369 |
| Supplemental disclosures of cash flow information: | ||
| Purchases of property and equipment included in ending accounts payable and accruals | $100 | $167 |
| Fair value of common stock issued for warrant exercise and equity line of credit commitment | $2,023 | $7,927 |
| Right-of-use asset and lease liability recognition for new operating and finance leases | $1,380 | $526 |
| Paid-in-kind and exit fee non-cash interest added to debt | $3,267 | $1,567 |
| Cash paid during the period for interest | $2,268 | $263 |
| Cash paid during the period for taxes, net of refunds | $189 | $12 |
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