| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 26.03 | 30.2% | 156.7% |
| Total Income | 26.03 | 30.2% | 156.7% |
| Expenditure | 33.74 | 7.2% | 34.4% |
| PBT | -23.89 | 55.2% | 58.0% |
| Net Profit | -23.94 | 55.1% | 55.9% |
| OPM | -29.60% | 27.92pp | |
| NPM | -91.96% | 14.79pp | |
| EPS | -1.61 | 36.4% | 1241.7% |
FTC Solar Reports Third Quarter 2025 Revenue of $26.0 Million, Up 156.8% Y/Y
04 May 2026 · 4 May, 7:24 am
Summary
FTC Solar announced its third quarter 2025 financial results, with revenue reaching $26.0 million, a 156.8% increase compared to the year-earlier quarter. The company reported a GAAP gross profit of $1.6 million, or 6.1% of revenue, compared to a gross loss of $3.9 million in the prior quarter. Non-GAAP gross profit was $2.0 million, representing a return to positive gross margin for the first time since late 2023. For the fourth quarter, the company expects revenue at the midpoint of its guidance range to be up approximately 25% compared to the third quarter.
Key Highlights
- 1
Third quarter revenue reached $26.0 million, exceeding target guidance and marking a 156.8% year-over-year increase.
- 2
Gross margin improved by more than 2,500 basis points quarter-over-quarter and 4,500 points year-over-year.
- 3
The company achieved its lowest loss from operations and best Adjusted EBITDA since 2020.
- 4
FTC Solar secured a $75 million strategic financing facility during the quarter, closing on $37.5 million.
- 5
A 1GW tracker supply agreement with Levona Renewables was announced.
- 6
The contracted portion of the company's backlog now stands at approximately $462 million.
Management Comments
Yann Brandt
“Third quarter results came in above the high-end of our guidance ranges on nearly all metrics,” commented Yann Brandt, President and Chief Executive Officer of FTC Solar. “I’m pleased to say that the company remains on a growth trajectory with quarterly revenue up nearly 160% year-over-year and at its highest level in eight quarters; operating income and adjusted EBITDA at the highest levels in 5 years; and a more compelling and complete product offering helping to drive increasing traction with key existing and new customers. Overall, I believe the company continues to make great progress across all aspects of the business, and I am excited about the long-term potential of this company.”
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