FTC Solar (FTCI) Financial Statements & Analysis

FTC Solar (FTCI) Income Statement

FTC Solar reported revenue of $99.69M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 110.5% from $47.35M a year earlier. FTC Solar posted a net loss of $79.58M, compared with a net loss of $48.61M a year earlier. Gross margin was -0.9% and operating margin -35.5%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $26.16M, up 30.8% from the same quarter a year earlier.

FTC Solar Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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FTC Solar, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Mar 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Revenue & Gross Profit
Revenue	99.69	47.36	47.36	127.00	123.07	270.53	187.35	53.12
Cost of Revenue	100.53	59.95	59.88	118.44	150.29	303.07	183.71	55.08
Gross Profit	-0.88	-12.59	-12.59	8.31	-27.23	-32.55	3.64	-1.95
Operating Expenses
Research & Development	4.31	5.92	5.79	6.97	9.95	11.54	5.22	3.96
Selling, General & Administrative	30.09	34.32	33.88	47.94	62.40	82.72	15.34	6.46
Operating Expenses	34.54	40.24	40.24	59.08	72.34	94.26	20.57	10.42
Operating Income	-35.42	-52.83	-52.83	-50.78	-99.57	-126.80	-16.93	-12.37
Other Income/Expense
Interest Income	1.57	0.00	-0.74	-0.66	0.00	-0.35	0.00	0.00
Interest Expense	7.56	0.32	-0.62	-1.25	0.98	0.81	0.36	0.45
Other Income/Expense	-43.63	4.45	4.45	0.15	0.39	21.20	0.92	-1.16
Income
Income Before Tax	-80.60	-48.38	-47.29	-49.97	-99.18	-106.42	-16.01	-13.53
Income Tax Expense	-0.53	0.23	-0.23	0.34	0.44	0.17	-0.08	-0.04
Net Income	-79.58	-48.61	-48.61	-50.29	-99.61	-106.59	-15.92	-13.50
Net Income - Continuous Operations	-76.92	-48.61	-48.61	-50.29	-99.61	-106.59	-15.92	-13.50
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-
EBITDA	-34.21	-46.39	-50.77	-45.65	-97.30	-105.37	-15.60	-11.96
EBIT	-35.25	-	-52.19	-46.36	-99.13	-105.61	-16.93	-
Depreciation & Amortization	1.29	1.67	0.92	0.71	0.90	0.23	0.05	0.41
Earnings Per Share
Basic EPS	-6.00	-4.00	-4.00	-4.00	-10.00	-12.00	-	-
Diluted EPS	-6.00	-4.00	-4.00	-4.00	-10.00	-12.00	-	-
Basic Shares Outstanding	14.01	12.68	12.68	11.55	10.14	8.60	8.51	8.22
Diluted Shares Outstanding	14.01	12.68	12.68	11.55	10.14	8.60	8.51	8.22

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About FTC Solar Financial Statements

What was FTC Solar's revenue in fiscal 2025?

FTC Solar reported revenue of $99.69M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 110.5% from $47.35M a year earlier.

Is FTC Solar profitable?

No. FTC Solar reported a net loss of $79.58M in fiscal 2025. In fiscal 2024 it lost $48.61M.

What is FTC Solar's operating margin?

FTC Solar's operating income was −$35.42M on revenue of $99.69M in fiscal 2025, an operating margin of -35.5%, compared with -111.6% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition