FTC Solar (FTCI) Balance Sheet: Assets & Liabilities

FTC Solar (FTCI) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), FTC Solar reported total assets of $111.81M and total liabilities of $154.77M. Shareholders' equity was negative at −$42.96M, meaning liabilities exceed assets. Total debt stood at $22.60M against $21.11M in cash and short-term investments, a net debt position of $1.50M.

FTC Solar Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for FTC Solar, Inc. (FTCI) - 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
Current Assets
Cash and Cash Equivalents	21.11	11.25	11.25	25.24	44.39	102.19	32.36	7.22
Cash & Short-Term Investments	21.11	11.25	11.25	25.24	44.39	102.19	32.36	7.22
Accounts Receivable	55.74	39.71	22.37	65.28	49.05	38.60	23.73	14.05
Inventory	9.63	10.14	10.14	3.91	14.95	8.86	1.69	4.51
Other Current Assets	11.29	15.03	3.97	14.09	10.30	1.52	1.04	4.86
Total Current Assets	97.77	76.13	76.13	108.51	118.69	235.78	65.72	30.64
Non-Current Assets
Property, Plant & Equipment (Net)	4.78	3.37	3.37	3.64	2.86	3.32	0.88	0.04
Long-Term Investments	0.00	0.95	0.95	0.24	0.00	0.00	1.86	2.58
Goodwill	7.44	7.14	7.14	7.35	7.54	0.00	0.00	0.00
Intangible Assets	0.00	0.00	-	0.54	1.11	0.00	0.00	0.03
Other Non-Current Assets	1.82	2.34	2.34	2.79	4.20	3.93	2.94	0.58
Total Non-Current Assets	14.04	13.80	13.80	14.56	15.71	7.24	6.67	3.19
Total Assets	111.81	89.93	89.93	123.07	134.40	243.02	71.39	33.83
Current Liabilities
Accounts Payable	13.25	13.00	13.00	7.98	15.80	39.26	17.13	8.19
Short-Term Debt	12.68	0.76	-	0.74	0.42	0.45	1.24	0.01
Accrued Liabilities	24.40	-	16.45	30.99	19.21	46.88	6.59	-
Deferred Revenue	7.17	5.31	5.31	3.61	11.32	1.42	22.98	19.87
Other Current Liabilities	10.73	29.69	10.31	42.25	31.90	4.66	11.81	5.65
Total Current Liabilities	68.23	49.07	49.07	54.67	60.34	93.25	59.81	33.72
Non-Current Liabilities
Long-Term Debt	9.92	9.88	9.47	1.12	0.79	1.34	0.78	7.86
Deferred Tax Liabilities	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00
Other Non-Current Liabilities	76.07	11.94	2.42	4.81	6.82	5.57	2.99	0.69
Total Non-Current Liabilities	86.55	21.82	21.82	5.93	7.61	6.91	4.13	8.55
Total Liabilities	154.77	70.89	70.89	60.60	67.95	100.15	63.94	42.28
Stockholders' Equity
Common Stock	0.00	0.00	0.00	0.01	0.01	0.01	0.00	0.00
Retained Earnings	-427.32	-347.74	-347.74	-299.14	-248.85	-149.23	-42.64	-26.72
Accumulated Other Comprehensive Income	-0.29	-0.54	-0.54	-0.29	-0.06	0.01	0.00	0.00
Additional Paid-in Capital	384.65	367.32	367.32	361.89	315.35	292.08	50.10	18.27
Shares Outstanding	15.54	-	12.85	12.54	10.50	9.26	-	-
Total Stockholders' Equity	-42.96	19.04	19.04	62.47	66.45	142.87	7.45	-8.45
Total Liabilities & Equity	111.81	89.93	89.93	123.07	134.40	243.02	71.39	33.83

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 Balance Sheet

How much debt does FTC Solar have?

FTC Solar had total debt of $22.60M as of Dec 31, 2025, against $21.11M in cash and short-term investments. Total debt was $10.63M a year earlier.

What are FTC Solar's total assets?

FTC Solar reported total assets of $111.81M as of Dec 31, 2025, up 24.3% from $89.93M a year earlier. Total liabilities were $154.77M.

What is FTC Solar's shareholders' equity?

FTC Solar's shareholders' equity was negative at −$42.96M as of Dec 31, 2025, so its liabilities exceeded its assets.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition