# FTC Solar, Inc.: financial statements, quarterly

FTCI · Nasdaq · CIK 1828161 · [Technology](/sectors/technology.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/ftci.md) · [Financials](/companies/ftci/financials.md) · [Filings](/companies/ftci/filings.md) · [Insiders](/companies/ftci/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/ftci/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [30.5](/filings/0000950170-24-125440.md) | [23.2 d](/filings/0000950170-25-047224.md) | [12.6](/filings/0000950170-25-061469.md) | [11.4](/filings/0000950170-25-102455.md) | [10.1](/filings/0001193125-25-276228.md) | [13.2 d](/filings/0001193125-26-120372.md) | [20.8](/filings/0001193125-26-205290.md) | [20.0](/filings/0001193125-26-334042.md) | [26.0](/filings/0001193125-25-276228.md) | [32.9 d](/filings/0001193125-26-120372.md) | [17.3](/filings/0001193125-26-205290.md) | [26.2](/filings/0001193125-26-334042.md) |
| Cost of revenue | $m | [27.2](/filings/0000950170-24-125440.md) | [22.5 d](/filings/0000950170-25-047224.md) | [14.7](/filings/0000950170-25-061469.md) | [13.8](/filings/0000950170-25-102455.md) | [14.4](/filings/0001193125-25-276228.md) | [17.0 d](/filings/0001193125-26-120372.md) | [24.3](/filings/0001193125-26-205290.md) | [23.9](/filings/0001193125-26-334042.md) | [24.4](/filings/0001193125-25-276228.md) | [28.0 d](/filings/0001193125-26-120372.md) | [18.5](/filings/0001193125-26-205290.md) | [28.4](/filings/0001193125-26-334042.md) |
| Gross profit | $m | [3.4](/filings/0000950170-24-125440.md) | [0.7 d](/filings/0000950170-25-047224.md) | [(2.1)](/filings/0000950170-25-061469.md) | [(2.3)](/filings/0000950170-25-102455.md) | [(4.3)](/filings/0001193125-25-276228.md) | [(3.8) d](/filings/0001193125-26-120372.md) | [(3.4)](/filings/0001193125-26-205290.md) | [(3.9)](/filings/0001193125-26-334042.md) | [1.6](/filings/0001193125-25-276228.md) | [4.9 d](/filings/0001193125-26-120372.md) | [(1.2)](/filings/0001193125-26-205290.md) | [(2.2)](/filings/0001193125-26-334042.md) |
| Research and development | $m | [1.9](/filings/0000950170-24-125440.md) | [1.5 d](/filings/0000950170-25-047224.md) | [1.4](/filings/0000950170-25-061469.md) | [1.5](/filings/0000950170-25-102455.md) | [1.5](/filings/0001193125-25-276228.md) | [1.5 d](/filings/0001193125-26-120372.md) | [0.9](/filings/0001193125-26-205290.md) | [1.1](/filings/0001193125-26-334042.md) | [1.2](/filings/0001193125-25-276228.md) | [1.1 d](/filings/0001193125-26-120372.md) | [1.1](/filings/0001193125-26-205290.md) | [1.2](/filings/0001193125-26-334042.md) |
| Operating income | $m | [(16.3)](/filings/0000950170-24-125440.md) | [(11.7) d](/filings/0000950170-25-047224.md) | [(12.5)](/filings/0000950170-25-061469.md) | [(11.9)](/filings/0000950170-25-102455.md) | [(15.0)](/filings/0001193125-25-276228.md) | [(13.4) d](/filings/0001193125-26-120372.md) | [(10.6)](/filings/0001193125-26-205290.md) | [(11.5)](/filings/0001193125-26-334042.md) | [(7.7)](/filings/0001193125-25-276228.md) | [(5.7) d](/filings/0001193125-26-120372.md) | [(12.1)](/filings/0001193125-26-205290.md) | [(13.7)](/filings/0001193125-26-334042.md) |
| Interest expense | $m | not reported | not reported | [0.3](/filings/0000950170-25-061469.md) | [0.1](/filings/0000950170-25-102455.md) | [0.0](/filings/0001193125-25-276228.md) | [0.2 d](/filings/0001193125-26-120372.md) | [0.7](/filings/0001193125-26-205290.md) | [0.7](/filings/0001193125-26-334042.md) | [2.0](/filings/0001193125-25-276228.md) | [4.8 d](/filings/0001193125-26-120372.md) | [3.9](/filings/0001193125-26-205290.md) | [4.3](/filings/0001193125-26-334042.md) |
| Income tax | $m | [0.2](/filings/0000950170-24-125440.md) | [(0.5) d](/filings/0000950170-25-047224.md) | [(0.0)](/filings/0000950170-25-061469.md) | [0.1](/filings/0000950170-25-102455.md) | [0.2](/filings/0001193125-25-276228.md) | [(0.1) d](/filings/0001193125-26-120372.md) | [0.3](/filings/0001193125-26-205290.md) | [0.0](/filings/0001193125-26-334042.md) | [0.0](/filings/0001193125-25-276228.md) | [0.2 d](/filings/0001193125-26-120372.md) | [0.2](/filings/0001193125-26-205290.md) | [0.2](/filings/0001193125-26-334042.md) |
| Net income | $m | [(16.9)](/filings/0000950170-24-125440.md) | [(11.2) d](/filings/0000950170-25-047224.md) | [(8.8)](/filings/0001193125-25-276228.md) | [(12.2)](/filings/0001193125-25-276228.md) | [(15.4)](/filings/0001193125-25-276228.md) | [(12.2) d](/filings/0001193125-26-120372.md) | [(3.8)](/filings/0001193125-26-334042.md) | [(15.4)](/filings/0001193125-26-334042.md) | [(23.9)](/filings/0001193125-25-276228.md) | [(36.4) d](/filings/0001193125-26-120372.md) | [32.6](/filings/0001193125-26-334042.md) | [(27.1)](/filings/0001193125-26-334042.md) |
| Diluted EPS | $ per share | [(0.14)](/filings/0000950170-24-125440.md) | not reported | [(0.70)](/filings/0000950170-25-061469.md) | [(0.97)](/filings/0000950170-25-102455.md) | [(1.21)](/filings/0001193125-25-276228.md) | not reported | [(0.58)](/filings/0001193125-26-205290.md) | [(1.18)](/filings/0001193125-26-334042.md) | [(1.61)](/filings/0001193125-25-276228.md) | not reported | [(0.72)](/filings/0001193125-26-205290.md) | [(1.69)](/filings/0001193125-26-334042.md) |
| Basic EPS | $ per share | [(0.14)](/filings/0000950170-24-125440.md) | not reported | [(0.70)](/filings/0000950170-25-061469.md) | [(0.97)](/filings/0000950170-25-102455.md) | [(1.21)](/filings/0001193125-25-276228.md) | not reported | [(0.30)](/filings/0001193125-26-205290.md) | [(1.18)](/filings/0001193125-26-334042.md) | [(1.61)](/filings/0001193125-25-276228.md) | not reported | [2.09](/filings/0001193125-26-205290.md) | [(1.69)](/filings/0001193125-26-334042.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: us-gaap:CostOfGoodsAndServicesSold
- Gross profit: us-gaap:GrossProfit
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [31.5](/filings/0000950170-23-060722.md) | [25.2](/filings/0001193125-26-120372.md) | [14.0](/filings/0000950170-25-061469.md) | [10.8](/filings/0000950170-25-102455.md) | [8.3](/filings/0000950170-24-125440.md) | [11.2](/filings/0001193125-26-120372.md) | [5.9](/filings/0000950170-25-061469.md) | [3.5](/filings/0000950170-25-102455.md) | [24.4](/filings/0001193125-25-276228.md) | [21.1](/filings/0001193125-26-334042.md) | [5.6](/filings/0001193125-26-205290.md) | [10.1](/filings/0001193125-26-334042.md) |
| Current assets | $m | [121](/filings/0000950170-23-060722.md) | [109](/filings/0000950170-25-047224.md) | [100](/filings/0000950170-24-057486.md) | [84.3](/filings/0000950170-24-093388.md) | [76.2](/filings/0000950170-24-125440.md) | [76.1](/filings/0001193125-26-120372.md) | [71.1](/filings/0000950170-25-061469.md) | [70.3](/filings/0000950170-25-102455.md) | [96.6](/filings/0001193125-25-276228.md) | [97.8](/filings/0001193125-26-334042.md) | [83.8](/filings/0001193125-26-205290.md) | [83.3](/filings/0001193125-26-334042.md) |
| Total assets | $m | [136](/filings/0000950170-23-060722.md) | [123](/filings/0000950170-25-047224.md) | [115](/filings/0000950170-25-061469.md) | [100](/filings/0000950170-25-102455.md) | [91.7](/filings/0001193125-25-276228.md) | [89.9](/filings/0001193125-26-120372.md) | [84.1](/filings/0001193125-26-205290.md) | [83.0](/filings/0001193125-26-334042.md) | [112](/filings/0001193125-25-276228.md) | [112](/filings/0001193125-26-334042.md) | [97.8](/filings/0001193125-26-205290.md) | [98.1](/filings/0001193125-26-334042.md) |
| Current liabilities | $m | [55.6](/filings/0000950170-23-060722.md) | [54.7](/filings/0000950170-25-047224.md) | [54.5](/filings/0000950170-24-057486.md) | [51.3](/filings/0000950170-24-093388.md) | [57.3](/filings/0000950170-24-125440.md) | [49.1](/filings/0001193125-26-120372.md) | [50.9](/filings/0000950170-25-061469.md) | [60.6](/filings/0000950170-25-102455.md) | [58.1](/filings/0001193125-25-276228.md) | [68.2](/filings/0001193125-26-334042.md) | [63.4](/filings/0001193125-26-205290.md) | [91.2](/filings/0001193125-26-334042.md) |
| Total liabilities | $m | [62.2](/filings/0000950170-23-060722.md) | [60.6](/filings/0000950170-25-047224.md) | [59.9](/filings/0000950170-24-057486.md) | [56.1](/filings/0000950170-24-093388.md) | [61.3](/filings/0000950170-24-125440.md) | [70.9](/filings/0001193125-26-120372.md) | [68.5](/filings/0000950170-25-061469.md) | [73.9](/filings/0000950170-25-102455.md) | [125](/filings/0001193125-25-276228.md) | [155](/filings/0001193125-26-334042.md) | [104](/filings/0001193125-26-205290.md) | [128](/filings/0001193125-26-334042.md) |
| Long-term debt | $m | not reported | [0.0](/filings/0000950170-25-047224.md) | not reported | not reported | not reported | [9.5](/filings/0001193125-26-120372.md) | [10.2](/filings/0000950170-25-061469.md) | [10.9](/filings/0000950170-25-102455.md) | [16.6](/filings/0001193125-25-276228.md) | [9.9](/filings/0001193125-26-334042.md) | [12.9](/filings/0001193125-26-205290.md) | [0.0](/filings/0001193125-26-334042.md) |
| Short-term borrowings | $m | not reported | not reported | not reported | not reported | not reported | [0.0](/filings/0001193125-26-120372.md) | not reported | not reported | not reported | [12.7](/filings/0001193125-26-334042.md) | [9.7](/filings/0001193125-26-205290.md) | [22.6](/filings/0001193125-26-334042.md) |
| Shareholders' equity | $m | [74.1](/filings/0000950170-24-125440.md) | [62.5](/filings/0001193125-26-120372.md) | [55.2](/filings/0001193125-25-276228.md) | [44.2](/filings/0001193125-25-276228.md) | [30.4](/filings/0001193125-25-276228.md) | [19.0](/filings/0001193125-26-334042.md) | [15.5](/filings/0001193125-26-334042.md) | [9.0](/filings/0001193125-26-334042.md) | [(13.7)](/filings/0001193125-25-276228.md) | [(43.0)](/filings/0001193125-26-334042.md) | [(6.1)](/filings/0001193125-26-334042.md) | [(30.3)](/filings/0001193125-26-334042.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: us-gaap:LongTermDebt
- Short-term borrowings: us-gaap:ShortTermBorrowings
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(15.6) d](/filings/0000950170-24-125440.md) | [(6.3) d](/filings/0000950170-25-047224.md) | [(11.9)](/filings/0000950170-25-061469.md) | [(3.8) d](/filings/0000950170-25-102455.md) | [(2.4) d](/filings/0001193125-25-276228.md) | [(16.7) d](/filings/0001193125-26-120372.md) | [(8.5)](/filings/0001193125-26-205290.md) | [(2.3) d](/filings/0001193125-26-334042.md) | [(14.6) d](/filings/0001193125-25-276228.md) | [(8.0) d](/filings/0001193125-26-120372.md) | [(12.8)](/filings/0001193125-26-205290.md) | [8.3 d](/filings/0001193125-26-334042.md) |
| Capital expenditure | $m | [0.3 d](/filings/0000950170-24-125440.md) | [0.4 d](/filings/0000950170-25-047224.md) | [0.4](/filings/0000950170-25-061469.md) | [0.7](/filings/0000950170-25-102455.md) | [0.2](/filings/0001193125-25-276228.md) | [0.3 d](/filings/0001193125-26-120372.md) | [0.1](/filings/0001193125-26-205290.md) | [0.2](/filings/0001193125-26-334042.md) | [0.4](/filings/0001193125-25-276228.md) | [0.3 d](/filings/0001193125-26-120372.md) | [0.3](/filings/0001193125-26-205290.md) | [0.3](/filings/0001193125-26-334042.md) |
| Share repurchases | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Share repurchases: not reported

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [102](/filings/0000950170-23-060722.md) | [107](/filings/0000950170-24-057486.md) | [113](/filings/0000950170-24-093388.md) | [120](/filings/0000950170-24-125440.md) | [12.6](/filings/0000950170-25-061469.md) | [12.6](/filings/0000950170-25-102455.md) | [12.7](/filings/0001193125-25-276228.md) | [14.6](/filings/0001193125-26-205290.md) | [13.1](/filings/0001193125-26-334042.md) | [14.9](/filings/0001193125-25-276228.md) | [22.4](/filings/0001193125-26-205290.md) | [16.0](/filings/0001193125-26-334042.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 16,461,251 at 2026-07-31, from the cover of the [10-Q filed 2026-08-05](/filings/0001193125-26-334042.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:48 ET. No prices; not investment advice.