FTC Solar (FTCI) Cash Flow: Operating & Free Cash Flow

FTC Solar Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities 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
Operating Activities
Net Income	-79.58	-48.61	-48.61	-50.29	-99.61	-106.59	-15.92	-13.50
Depreciation & Amortization	1.28	1.67	1.67	8.30	0.90	0.23	0.05	0.41
Deferred Income Tax	0.22	0.08	0.08	0.14	-0.14	-12.68	0.00	0.00
Stock Based Compensation	4.96	5.41	5.41	8.30	20.30	61.77	1.82	0.91
Change in Working Capital	-10.96	0.50	0.50	-25.70	9.29	-75.58	9.35	8.91
Change in Accounts Receivable	-10.19	23.50	23.50	-23.60	57.34	-83.72	-9.71	-13.84
Change in Inventory	1.43	-6.42	-6.42	10.34	-7.90	-7.26	2.82	-4.51
Change in Accounts Payable	-4.51	4.96	4.96	-7.96	-22.94	21.66	10.08	7.78
Change in Other Working Capital	0.54	-21.54	1.09	-7.35	5.11	-18.78	6.17	19.47
Other Operating Activities	48.20	6.24	1.09	13.66	5.11	-12.69	5.34	3.01
Net Cash from Operating Activities	-33.44	-34.70	-34.70	-52.66	-54.51	-132.85	0.63	-0.25
Investing Activities
Capital Expenditures	-1.13	-1.65	-1.65	-0.82	-0.99	-1.03	-0.26	-0.02
Acquisitions	0.58	0.00	-1.80	0.42	-5.09	22.33	2.12	0.00
Purchases of Investments	0.00	-1.80	7.01	0.42	0.00	22.33	0.00	0.00
Sales/Maturities of Investments	3.20	8.81	8.81	1.32	0.00	22.33	0.00	0.00
Other Investing Activities	3.35	0.90	-1.80	0.00	0.09	22.33	0.00	0.00
Net Cash from Investing Activities	2.80	6.26	6.26	-0.40	-4.25	21.31	1.87	-0.02
Financing Activities
Debt Repayment	35.80	14.49	-	0.00	0.00	-1.00	-6.22	1.00
Common Stock Issued	4.73	0.01	0.01	34.23	0.00	241.47	30.00	6.00
Common Stock Repurchased	0.00	0.00	-	0.00	0.00	-54.16	0.00	0.00
Other Financing Activities	-0.28	0.00	-0.06	-0.28	0.90	-5.95	-1.14	0.00
Net Cash from Financing Activities	40.40	14.50	14.50	33.95	0.90	180.37	22.64	7.00
Summary
Effect of Forex Changes on Cash	0.10	-0.05	-0.05	-0.05	0.05	-0.01	0.00	0.00
Net Change in Cash	9.86	-13.99	-13.99	-19.15	-57.80	68.81	25.14	6.73
Cash at Beginning of Period	11.25	25.24	25.24	44.39	102.19	33.37	8.24	1.51
Cash at End of Period	21.11	11.25	11.25	25.24	44.39	102.19	33.37	8.24
Free Cash Flow	-34.57	-36.34	-36.34	-53.47	-55.50	-133.88	0.37	-0.27
Supplemental Disclosures
Interest Paid	-	-	0.22	0.58	0.78	0.46	0.35	-
Income Taxes Paid	-	-	0.13	0.18	0.12	0.08	-	-

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 Cash Flow

What is FTC Solar's free cash flow?

FTC Solar had negative free cash flow of $34.57M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −$33.44M minus $1.13M of capital expenditures.

How much does FTC Solar spend on capital expenditures?

FTC Solar spent $1.13M on capital expenditures in fiscal 2025, compared with $1.65M a year earlier.

Does FTC Solar pay dividends or buy back shares?

FTC Solar's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition